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Oaktree emerges highest bidder for DHFL; Kapil Wadhawan offers fresh proposal to repay 100% within 8 yrs

Oaktree emerges highest bidder for DHFL; Kapil Wadhawan offers fresh proposal to repay 100% within 8 yrs

Finance
US-based Oaktree on Monday pipped Piramal Enterprises and Adani Group to emerge as the highest bidder for DHFL after fresh bids were invited under the insolvency process, according to sources. The committee of creditors had fixed December 14 as the last for submission of revised bids. According to the sources, Oaktree raised the bid to Rs 36,646 crore, including Rs 1,000 crore for insurance and Rs 3,000 crore of interest earned, while Piramal Enterprises offered Rs 35,550 crore, including Rs 300 for insurance and Rs 3,000 of interest earned.Let's block ads! (Why?) Banking/Finance-Industry-Economic Times
Firms say fresh wage subsidy may ‘cushion blow’

Firms say fresh wage subsidy may ‘cushion blow’

Business
Businesses groups have largely welcomed a new wage support for workers at firms forced to close by Covid restrictions.Chancellor Rishi Sunak has said the state will cover two-thirds of staff wages at closed workplaces, and firms in England can get grants of up to £3,000 per month. The subsidy is an extension to the Job Support Scheme announced last month.The CBI business lobby group said it "should cushion the blow for the most affected and keep more people in work"."But many firms, including pubs and restaurants, will still be hugely disappointed if they have to close their doors again after doing so much to keep customers and staff safe," added CBI boss Dame Carolyn Fairbairn.The business group additionally called for a "consistent and open strategy for...
Will Smith bringing ‘Fresh Prince of Bel Air’ reunion to HBO Max

Will Smith bringing ‘Fresh Prince of Bel Air’ reunion to HBO Max

Entertainment
Aug. 31 (UPI) -- Westbrook Entertainment announced Monday that it would produce a Fresh Prince of Bel-Air reunion special for HBO Max. Cast members Will Smith, Tatyana Ali, Karyn Parsons, Joseph Marcell, Daphne Maxwell Reid, Alfonso Ribeiro and DJ Jazzy Jeff are scheduled to participate. They will tape the special Sept. 10 and intend to air it close to Thanksgiving. Advertisement The Fresh Prince of Bel-Air ran on NBC from 1990-1996. Smith was already a popular rap artists with DJ Jazzy Jeff. The hit sitcom led him to movie roles, including breakout hits Bad Boys and Independence Day at the end of the show's run. Smith played Will, a boy from Philadelphia whose mother sends him to live with his rich aunt and uncle in Bel-Air, Calif. Smith's streetwise shenanigans make him a fish out of wa...
The Fresh Prince of Bel-Air to be rebooted as gritty drama

The Fresh Prince of Bel-Air to be rebooted as gritty drama

Entertainment
In west Philadelphia born and raised, on the playground was where he spent most of his days...Now The Fresh Prince of Bel-Air - played by Will Smith in the beloved 90s sitcom - is coming back in a reboot.But this time the story of the streetwise teen who moves in with his upper-class uncle and aunt will not be a comedy, according to US reports.The new version will be based on a viral YouTube trailer that reimagined the series as a hard-hitting drama.Smith is working on the series with Morgan Cooper, who created the alternative trailer last year.At the time, the actor praised the trailer as a "brilliant idea, the dramatic version of The Fresh Prince for the next generation".Smith's company Westbrook Studios will make it with Unive...
UK inflation rate at fresh four-year low as fuel prices slump

UK inflation rate at fresh four-year low as fuel prices slump

Business
A record fall in fuel prices, including petrol, pushed the UK's inflation rate down to 0.5% in May, the second full month of the coronavirus lockdown.Fuel prices declined by 16.7% during the month, the Office for National Statistics (ONS) said, dragging the Consumer Prices Index (CPI) to the lowest level since June 2016.Clothing and footwear prices also fell.Supermarkets were among the few shops allowed to open in May and food prices rose, the ONS said. May's inflation rate was down from 0.8% in April, the first full month of the pandemic lockdown. Clothing and footwear prices fell 3.1% amid heavy discounting. What is inflation?Inflation is the rate at which the prices for goods and servi...