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The CFO Reading List: October 19, 2019

| Updated on October 19, 2019 Published on October 19, 2019

Gross domestic product rose just 6% year-on-year, marking a further loss of momentum for the economy. File Photo   -  Reuters

Missed all the important financial news this week because you were buried in work? Here’s a curated reading list of BL’s most important financial stories this week.

Slowing China

Even as the IMF cut India’s GDP growth forecast for 2019 to 6.1 per cent, China’s also seen its recent growth slump to the slowest in 30 years.

Read more: China's GDP growth grinds to near 30-year low as tariffs hit production

Hiring pickup

The festive season has boosted flexi hiring by retailers

Also read: Festive season hiring continues amid muted job growth

And India’s IT majors are also stepping up hiring after a two-year limbo

Read more: Hiring by Big Three IT firms up 59% in Q2

Rural slowdown

Rural growth in FMCGs has continued to slow and has undershot urban growth for the first time in 7 years.

Also read: FMCG performance in rural India worst in 7 years: Nielsen

Small packs selling

Coca Cola’s CEO said in a concall that India has remained a growth market for it with immediate coonsumption packs growing fast.

India's immediate consumption transactions grown double-digits

Stuck again

The two-year old Bhushan Power resolution before the IBC is caught in a new legal tangle as the Enforcement Directorate readies to challenge the NCLAT order directing it to release the company’s attached assets. 

Only five days before, the NCLAT had directed the ED to release Bhushan Power’s assets, upholding the JSW petition seeking immunity for the company from the ED investigation of Bhushan promoters.

Bhushan Power case: ED to move apex court against NCLAT order

Frivolous plea

Bombay High Court has dismissed an attempt by the tax department to withhold tax refunds to Vodafone Idea because it reported large losses this year, from profits the previous year.

Bombay HC orders IT dept to refund about ₹1,000 crore to Vodafone Idea

Robot threat

Automation is a live threat for Indian industry as some businesses have already seen robots replace human workers

India’s employment challenge may worsen as robots snatch away jobs

 

Compiled by Aarati Krishnan

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Published on October 19, 2019
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