BMW AG and two US subsidiaries on Thursday agreed to pay $18 million (£14.1 million) as a fine to resolve acquisitions that had disclosed misleading information about the retail sales volume of German luxury automakers in the US and raising approximately $18 billion from investors through corporate bond offerings. The US Securities and Exchange Commission said BMW has inflated reported US retail sales from 2015 to 2019 which in turn helped the automaker to close the gap between the actual retail sales volume and internal targets and to publicly maintain a leading retail sales position as compared to the other premium automotive companies. BMW in a statement said, "There is no allegation or finding in the Order that any BMW entity engaged in intentional misconduct," and added to it "attaches great importance to t

After Royal Challengers Bangalore (RCB) kept a slow over-rate in the IPL match against Kings XI Punjab, Captain Virat Kohli has been issued a fine of Rs 12 lakh. During Thursday night, the team took a hit by 97 runs in the match. IPL addressed the fining in a release, “As it was his team's first offence of the season under the IPL's Code of Conduct relating to minimum over-rate offences, Mr Kohli was fined Rs 12 lakh” The Indian batting mainstay had a forgettable outing at the Dubai International Stadium. In parts where he dropped two catches of centurion KL Rahul, which turned out to be costly, Kohli also could not add anything further substantial with the willow. Meanwhile, his KXIP counterpart Rahul broke a few records making his way to a 69-ball 132, which is to date the highest IPL game score by an India

The United Nations has awarded Kerala on Thursday in view of its “outstanding contribution” in the regulation of the non-communicable disease based goals towards sustainable development. The declaration was made by World Health Organization director-general Tedros Adhanom Ghebreyesus this year for the UN Interagency Task Force (UNIATF) award for prevention and control of non-communicable diseases, in appreciation of efforts through 2019 in multi-sectoral areas dealing with preventing and regulating NCDs. Other areas include mental health and supervision of planning sustainable development in NCDs on a wide scale. Health Minister KK Shailaja said the award was a recognition of the tireless service of Kerala in the health sector. "The state government has arranged facilities from the basic public health centres

PepsiCo has decided to shut its Kerala's manufacturing unit due to the labour issues with its franchise holder Varun Beverages Ltd. approaching the Labour Department with a mandatory closure notice. PepsiCo’s Kerala unit is located at Kanjikode Palakkad, which was operated by Varun Beverages Ltd. and was in a lockout from 22 March over various labour protests to close the unit. The closure notice dated on 22 September states, "M/s Varun Beverages Ltd manufacturing carbonated soft drinks and packaged drinking water, is intended to be closed down under section 25-O of the Industrial dispute Act 1947 (Act 14 of 1947) and necessary application is filed to the Government, of Kerala on 22.09.2020 stating clearly the reasons for the intended closure". The closure notice also stated that all the affected workmen sha

Domestic gold and silver rates buckled with pressure during a mild respite in the last session. MCX indicated futures in gold having declined 0.27% at Rs 49,771 per 10 gram in its fourth subsequent fall in five days. Silver futures on MCX were down 0.5% to Rs 59329 per kg. Previously, gold climbed 0.64% or Rs 300 while silver added 1.8% or Rs 1060 per kg. Gold and silver prices have dropped heavily this week domestically. Current week gold is down nearly Rs 2,000 per 10 gram whereas silver has slumped Rs 9,000 per kg. Internationally, gold fell by a firmer US dollar performance, although the losses were capped between renewed hopes for additional US stimulus measures. Spot gold dropped 0.2% to $1,864.47 per ounce, crossing losses over 4% this week. Between additional valuable metals, silver dropped 1.1% to $22.95

The Bengaluru-based social media company, ShareChat said that it has raised $40 million in Pre-Series E round. The fund raised in the current round of funding will be utilised for driving the growth of newly launched short video platform, Moj. The company said that the new funding round had seen significant investments from MD of Hero MotoCorp, Dr Pawan Munjal, DCM Shriram Promoters Family Office, SAIF Partners, Twitter, Lightspeed Ventures and India Quotient. The investments made towards Moj’s development, growing its creator ecosystem and establishing partnerships with music labels would be doubled, the company said. “Our short-video platform Moj has been on an explosive growth trajectory since its launch. This funding will help us further invest in our product development, ML capabilities and helping th

SAIC Motor Corp. Limited’s Indian subsidiary, MG Motor India plans to invest Rs 1,000 crore for boosting capacity at its Gujarat’s facility and to increase localisation levels in its products in the next one year. MG Motor India had already invested Rs 3,000 crore in the country and now, the additional amount of Rs 1,000 crore is for boosting the capacity of the facility centre and in the localisation levels of its components and products. “We will invest an additional Rs 1,000 crore between now and September 2021. Some of this will be used to increase capacity at our existing facility in Halol (Gujarat),” said Rajeev Chaba, President and MD at MG Motor India Pvt. Ltd. He said that the Gujarat facility centre had an annual production capacity of 75,000-80,000 vehicles which will now be increased to 100

Greenko Energy Holdings and AES Corporation of US have emerged as the front runners to acquire a stake of Massachusetts-headquartered NEC Energy Solutions, in a deal potentially valued at around $300 million, said two people aware of the development.  The Sovereign funds GIC Holdings Pte. Ltd and Abu Dhabi Investment Authority (ADIA)-backed Greenko have been preparing to pivot towards battery storage. On September 13, Greenko Energy Holdings has the plan to invest $ 1 billion in the new business of battery storage. Also plan to produce lithium-ion batteries in India for power grid-scale applications and electric vehicles (EVs), as per Livemint reported. An NEC Corporation spokesperson in an emailed response said, "I'm afraid we are not able to comment on market speculation on potential agreements." "The due d