Surprise arrest of Lotte Chairman creates leadership vacuum, shares down

The shock arrest of the head of South Korea's Lotte for bribery sent shares in group firms plunging on Wednesday as investors fretted about a leadership vacuum at a challenging time for the country's fifth-largest conglomerate.

The Seoul Central Court on Tuesday sentenced Lotte Group Chairman Shin Dong-bin to two years and six months in prison in a case tied to an influence-peddling scandal that has rocked the country's business and political elite.

News digest: Lotte buys Havmor Ice Cream, clouds over Rafale, and more

Insolvency ordinance: Defaulting promoters set to lose their companies

An ordinance amending the Insolvency and Bankruptcy Code (IBC) has practically barred promoters of companies undergoing the resolution process from bidding for their own companies when they are auctioned as part of bankruptcy proceedings. Read more

South Korea's Lotte Confectionery buys Havmor Ice Cream for Rs 1,020 crore

South Korea’s Lotte Confectionery has acquired Ahmedabad-headquartered ice cream maker Havmor Ice Cream Ltd (HIL) for Rs 1,020 crore in an all-stock deal. Read more

Clouds over fighter jet: How much did Rafale actually cost?

Has the Indian Air Force (IAF) paid more per Rafale fighter than what Prime Minister (PM) Narendra Modi had undertaken in Paris whilst announcing his agreement with French President Francois Hollande to buy 36 aircraft from French vendor, Dassault? Read more

Govt vows to keep web access equitable

At a time when the US’ Federal Communications Commission has decided to replace the net neutrality rules, the Indian government has vowed to keep cyberspace equal for everyone and not allow any firm to restrict people’s access to the web. Read more

Over my birthday dinner, the family pledged 10% wealth: Sunil Mittal

Sunil Bharti-led Bharti Group has pledged Rs 7,000 crore, which is 10 per cent of its family wealth, for philanthropy. A large chunk of this will be used to set up Satya Bharti University for Science and Technology, modelled on MIT, Stanford, and Berkeley.
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