The Massachusetts senator's alarm-sounding on consumer debt neglects to measure it against the growth in the economy and the ability to pay.Economyread more
Equifax will give consumers a range of options for monitoring their credit or making claims of fraud or data misuse, part of a $425 million restitution fund.Technologyread more
The deal between the White House and Democrats was earlier expected to raise the debt ceiling for two years and permanently end the sequester.Politicsread more
The deal could be announced as soon as next week, according to the report.Technologyread more
President Donald Trump held "constructive" discussions on a range of economic issues including trade and national security issues.Technologyread more
Secretary of Education Betsy DeVos and her family have seen their investments skyrocket since President Donald Trump started enacting pro-business policies. Meanwhile, DeVos...Politicsread more
See which stocks are posting big moves after the bell on July 22.Market Insiderread more
The construction industry is heavily dependent on Hispanic and Latino workers, a workforce that diminished during the last housing crisis and has not come close to full...Real Estateread more
Former NFL offensive lineman Jeff Hatch, who had previously been candid about his own struggles with opioid addiction and substance abuse, pleaded guilty Friday to a drug...Politicsread more
U.S. stock futures were indicating a higher Wall Street open and a possible reversal of recent negative trends.Morning Briefread more
A group of gold miners stocks, "BAANG," are better plays than mega-cap FAANG names, according to John Roque, technical analyst at Wolfe Research.Marketsread more
* Reliance plans e-commerce push, challenge Amazon, Walmart
* New initiative to connect shopkeepers with its retail network
* New state investment to also expand telecom services in state
MUMBAI/KOLKATA, Feb 7 (Reuters) - India's Reliance Industries will invest 100 billion rupees ($1.4 billion) in the eastern state of West Bengal, a part of which would fund the company's new e-commerce venture, its chairman Mukesh Ambani said on Thursday.
The energy and telecoms conglomerate, which already runs retail stores, has announced plans to diversify into e-commerce at a time when India's new foreign investment curbs have dealt a blow to Amazon.com Inc and Walmart's Flipkart.
The investment announcements also come as a boost for the state's chief minister, Mamata Banerjee, who has in recent weeks rallied regional parties and the main opposition Congress to forge an alliance to beat Prime Minister Narendra Modi in upcoming elections, which must be held by May.
Ambani's so-called "new commerce" venture aims to connect small merchants with his retail network and warehouses, helping them better manage their inventory. It already has more than 500 retail stores in the state, selling everything from clothes to groceries, and the new plan would "increase manifold" its warehouse space in the next 24 months in West Bengal, he said.
The new e-commerce platform "will bring win-win benefits to consumers, retailers and producers" and help 30 million small shopkeepers, Ambani said.
The billionaire businessman has been more vocal about his e-commerce plans after India in December imposed new restrictions on how foreign companies operate in the e-commerce sector. The new rules, which kicked in on Feb. 1, have disrupted product listings on Amazon.com's India website.
Addressing a business summit in West Bengal's Kolkata city, Ambani also said he plans to expand the reach of his telecom services in the state and swiftly open a data centre which would be "as good as the ones in Silicon Valley".
"There is no area of the economy, governance or life which is untouched by the revolutionary potential of digital technologies," Ambani said. ($1 = 71.4050 Indian rupees) (Editing by Aditya Kalra)