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Finance Minister to Announce Union Budget Tomorrow et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Jan 31, 2018 1:14 PM 2 min read

Union Budget 2018 to be announced tomorrow at 11am; CEA Arvind Subramanium talks against pre-election fiscal populism; Delhi High Court allows Daiichi Sankyo to collect over $500m from former Ranbaxy promoters; Fujifilm to acquire Xerox Corp into their JV Fuji Xerox, cut 10,000 jobs by 2020; Amazon, JP Morgan, and Berkshire Hathaway team up to revamp and make healthcare more affordable for employees and the broader market; Facebook bans ads on cryptocurrencies.

End of Day Wrap-up (Wednesday / January 31, 2018) #UnionBudget2018 #ArvindSubramanian #HighCourt #Fujifilm #Amazon #JPMorgan #Facebook #Xerox #Cryptocurrency #Transfin


Editor's comment: Finance Minister to announce salient points of Union Budget 2018. Speech scheduled to start at 11am. CEA Arvind Subramanium concurs with markets which expects fiscal prudence. Says FRBM trajetory of 3% became obsolete post demonetisation, GST etc. 

Delhi High Court concurs with Singapore arbitration tribunal's award of $500m to Daiichi Sankyo by Ranbaxy ex-promoters Malvinder and Shivinder Singh on charges of making and distributing adulterated medicines in US
Fujifilm to cut 10,000 jobs in JV Fuji Xerox as a result of global decline in photocopier demand and push to use less paper. Current headcount stands at 46,000.

Jeff Bezos, Jamie Dimon, and Warren Buffett team up to revamp healthcare for 2.4m workers and dependents of the companies they run. Amazon will potentially bring in focus group of workers to test new healthcare models to monetise (for the broader market), Berkshire Hathway to bring risk management expertise through its insurance subsidiaries, and JP Morgan to bring financial expertise.
Facebook bans ads related to cryptocurrencies, including binary options, initial coin offerings etc. to crackdown on fraud