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Ann Woolner: Wall Street 'corruption' might buy crooks a break
A federal judge implied this week he might go easy on two brokers convicted of securities fraud because they worked within a “culture of corruption".

L&T tumbles on fall in net
The scrip ended 3.5% lower at Rs 1,472. The counter clocked volumes of 13.97 crore as compared tp the two-week daily average traded volumes of 3.78 crore shares on the BSE.

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Options limited for Madhya Pradesh
Will Madhya Pradesh be isolated on goods and service tax (GST) issue? If highly placed government sources, working the new tax system, are to be believed, the state government will have to follow the trend. “Eventually the state will have to implement the system, we cannot linger on. Other states like Chhattisgarh have also agreed to implement it, Gujarat government has welcomed it, Haryana has accepted it ‘in principle’ except for few points. How Madhya Pradesh can stand out?” asked an official. But the state finance minister has a long list to point out flaws in the new tax system, the main being, “The GST will bring even dal-chawal (rice and pulses) under tax net, which are exempted from VAT.”
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Coal unions oppose disinvestment of CIL

Five major coal unions today opposed the government"s move to sell its stake in Coal India (CIL) saying the firm is competent enough to meet its financing needs and demanded infrastructure status for the sector. "We express our strong resentment at the proposal of the government of India to disinvest the shareholding of Coal India in the share market," Centre of Indian Trade Unions said in a statement here. Cox & Kings Q3 net jumps 88% to Rs 19 cr UCO Bank seeks shareholders" nod for fund raising Negative view on state-run oil cos: Fitch Jan cement sales in high double-digit The unions said they are opposed to allotment of virgin coal blocks in general and allotment of coal blocks within the command area of CIL given to private sector companies. "We demand that all the blocks should be handed over to Coal India. "We resolutely oppose the amendment to Coal Mines Nationalisation Act and request the government of India to desist from doing so," CITU said. The workers" body said the National Coal Wage Agreement-VIII signed between Coal India and its workers should be the benchmark for the private firms, involved in captive mining, to pay salaries to their miners. While demanding parity in wages amongst permanent mining workers at government and private firms, the trade union sought minimum salaries for the contractual employees. "We demand that the contract workers should not be allowed to be engaged in permanent and perennial nature of jobs and in other coal sectors they should be paid minimum of the scale in the coal industry." In view of CIL outsourcing some of its jobs, CITU added, "We are opposed to contracterisation and outsourcing of coal industry jobs to private parties."


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