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Tag: plan

Reliance Home investors plan more actions to recover dues

Reliance Home investors plan more actions to recover dues

Finance
MUMBAI: Some bond investors at Reliance Home Finance are considering multiple options, including a complaint to the regulator of audit firms, to ensure recovery of their outstanding investments after the stressed home financier was taken to the National Company Law Tribunal (NCLT) last week. Complaints to the National Financial Reporting Authority (NFRA), the regulator of CA firms, are likely to cite failures of Grant Thornton and PwC in spotting irregularities, market sources said. Investors have also demanded a copy of the forensic audit conducted by Grant Thornton. PwC was the statutory auditor of Reliance Home Finance. Both audit firms did not respond to ET’s queries. Investors are concerned that unless recovery efforts are stepped up, the remaining funds at the company may be ‘diverte
Facebook riles tiny Oregon town with plan for undersea cable

Facebook riles tiny Oregon town with plan for undersea cable

Technology
TIERRA DEL MAR, Ore. -- A battle playing out in a tiny Oregon town with no stoplights or cellphone service is pitting residents against one of the world's biggest tech companies. Locals in coastal Tierra del Mar are trying to stop Facebook from using property in their quiet community to build a landing spot for an ultra high-speed, undersea cable connecting America with Asia. Representatives of the social media giant say Tierra del Mar is one of the few places on the U.S. West Coast suitable for the cable, which will feature the latest fiber optic technologies. It will link multiple U.S. locations, including Facebook's huge data center in the central Oregon town of Prineville, with Japan and the Philippines, and will help meet an increasing demand for internet services worldwide, the comp...
Trump’s plan to curb teen vaping exempts some flavors

Trump’s plan to curb teen vaping exempts some flavors

Health
WASHINGTON -- U.S. health officials will begin cracking down on most flavored e-cigarettes that are popular with underage teenagers, but their plan includes major exceptions that benefit vaping manufacturers, retailers and adults who use the nicotine-delivery devices. The Trump administration announced Thursday that it will prohibit fruit, candy, mint and dessert flavors from small, cartridge-based e-cigarettes favored by high school and middle school students. But menthol and tobacco-flavored e-cigarettes will be allowed to remain on the market. The targeted flavor ban will also entirely exempt large, tank-based vaping devices, which are primarily sold in vape shops that cater to adult smokers. Together, the two exemptions represent a significant retreat from President Donald Trump's or...
DHFL: Resolution professional discusses plan with lenders

DHFL: Resolution professional discusses plan with lenders

Finance
MUMBAI: The Reserve Bank-appointed administrator Monday met committee of creditors (CoC) of Dewan Housing Finance (DHFL) and discussed about the resolution plan for the crippled lender and the Rs 87,905.6 crore worth of claims received from banks, employees and bond holders, sources said. The administrator, R Subramaniakumar, met the committee of creditors for the first meeting after the stressed financier was admitted for insolvency proceedings on December 2. "This was the first meeting of CoC. The RP (administrator) discussed about the resolution plan and the way forward," a banker who attended the meeting said. All creditors of the company including banks, bond holders, insurance and mutual fund companies attended the meeting. "The CoC also discussed about the claims which have been sub...

Plan to import cheaper Canadian drugs advances under Trump

Health
WASHINGTON -- The Trump administration, eager to show progress on prescription drug costs, on Wednesday moved forward with its plan to allow Americans to safely and legally get access to lower-priced medicines from abroad. But patients are unlikely to see quick relief on prices, even in states such as Florida that are pursuing their own import plans. Meanwhile, major legislation to lower costs for seniors has gotten bogged down in a Congress consumed by the impeachment of President Donald Trump. Canadian officials have also raised questions, saying their country's prescription drug market is too small to have any real impact on U.S. prices. In Washington, U.S. health officials unveiled a proposed regulation that would allow states to import many brand name drugs from Canada, with ...