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PM Modi Meets UK PM Theresa May in London et al

Professor of Financial Economics and Part-time Value Investor, Transfin.
Apr 18, 2018 12:18 PM 1 min read
Editorial

End of Day Wrap-up (Wednesday / April 18, 2018) #PM #Modi #UK #TheresaMay #ATM #Fortis #RBI #FB #GDPR #US #Canada #Transfin

Editor's comment: PM Modi meets UK PM Theresa May in London. Announces signing of £1bn free trade agreement. Discussion around economic offenders also on cards. 

 

Cash crunch in ATMs continue. Govt to print INR500 denomination notes at 5x the usual rate. Cash shortage expected to be tackled in 5-7 days.

 

Chinese investment company Fosun bids for Fortis, joining TPG-Manipal, IHH Healthcare, and Hero-Burman Group. Fosun offers INR156 per share, INR1 more than the Manipal offer.

 

RBI cautions banks against risky lending to retail customers to cover for reduced lending to corporate borrowers. As per latest RBI data, personal loans increased by 20% in February 2018 vs. 12% in February 2017.  

 

Facebook to comply with strict new European data privacy laws (GDPR) coming out in May, but also continue to serve targeted ads based on user data.

 

California toy mogul Isaac Larian's $675m bid to acquire Toys R Us stores in the US and Canada rejected, being cited as "way off".