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United Spirits PE deal unlikely to sail through
United Spirits, India’s largest spirits firm from the stables of UB Group, efforts to raise Rs 1,000 crore through the private equity route is unlikely to sail through. United Spirits, owned by Indian billionaire Vijay Mallya has been in discussions with global private equity giants including KKR and Capital International to raise resources to largely settle the huge debt pile of the firm.

Parliament remembers 26/11 victims
Parliament today remembered those killed in the terror strike in Mumbai on this day last year with the Lok Sabha resolving to unitedly fight and defeat the forces of terrorism which pose the "gravest threat to humanity".

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What Gladwell saw, and questioned
At the height of the dot-com boom of the 1990s, several executives at McKinsey & Company, the world’s most prestigious management consulting firm, launched what they called the War for Talent. After extensive research, they concluded that the best companies had leaders who were obsessed with “the talent issue”. They recruited ceaselessly, finding and hiring as many top performers as possible. They singled out and segregated their stars, rewarding them disproportionately, and pushing them into ever more senior positions. The “talent mind-set” became the new orthodoxy of American management — the intellectual justification for why a high premium was placed on degrees from first-tier business schools, and why the compensation packages for top executives had become so lavish.
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Govt proposes to compensate 50% of CST losses to states

With the economic slowdown hitting the exchequer hard, the Centre today proposed that the states accept half of the compensation on account of their losses due to cut in the Central Sales Tax (CST) for the current fiscal. - Firms may seek compensation if spectrum delayed: DoT - SC issues notice to Centre, Maha govt on security of hotels - Govt keeping watch on sugar prices: Sharma - Govt to encourage pvt investments in shipping - Govt ready to deal with Satyam-like frauds: Khurshid - Govt mulling next move on Telangana The states are compensated for the cut in the CST, a tax on inter-state movement of goods, from 4 per cent to 2 per cent in phases as they suffer losses on this count. While the total compensation package for the states works out to be Rs 14,000 crore for the current fiscal, Rs 5,000 crore will be paid out of the total transfer of proceeds from tax on 33 services to the states. This would leave Rs 9,000 crore to be paid in compensation to the states, on which the Finance Ministry has asked states to take Rs 4,500 and rest will be paid as arrears. "The CST compensation package for this current year requires around Rs 14,000 crore, of which about Rs 5,000 crore should be taken care of by 33 services sector items. For the remaining about Rs 9,000 crore, his (Pranab Mukherjee"s) suggestion is, if keeping in view the recession, states can accept 50 per cent of it," the Empowered Committee of State Finance Ministers Asim Dasgupta told reporters here today. The CST was cut from 4 per cent to 3 per cent from April 1, 2007 and then to 2 per cent a year later. It is expected to be removed, once the Goods and Service Tax comes into effect, as it does not conform to the common market concept of either VAT or GST.


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