Page 1044 - Business Finance

Bengal secures over Rs 40k cr investment proposals on Day 1 of business summit

West Bengal has bagged over Rs 40,000 crore worth of investment proposals on the opening day of the flagship business summit, which was inaugurated by state Chief Minister Mamata Banerjee on Thursday.

Asian demand boosts L'Oreal cosmetics sales

PARIS (Reuters) - L'Oreal reported better-than-expected fourth quarter sales growth on Thursday, boosted by strong demand for its luxury skincare brands such as Lancome in Asia, and a slight improvement in its underperforming mass market division.

Bank of England sees weakest UK outlook since 2009 on Brexit, global slowdown

LONDON (Reuters) - The Bank of England said Britain faces its weakest economic growth in a decade this year as uncertainty over Brexit mounts and the global economy slows, but interest rates will eventually rise if an EU divorce deal is done.

France 'categorically denies' Nikkei report on Renault-Nissan stakes

PARIS (Reuters) - France's finance ministry denied on Thursday a report from Japanese news outlet Nikkei that the French government had informed Tokyo it was open to considering reducing Renault's stake in Nissan Motor.

Huawei open to European supervision: executive in speech

BRUSSELS (Reuters) - Chinese telecoms giant Huawei wants cybersecurity to be viewed as a technical rather than ideological issue and is open to supervision by European governments to prove the point, a senior company executive is expected to say on Thursday evening.

Global Markets: Shares drop on weak Europe data, renewed U.S.-China worries

NEW YORK (Reuters) - Stocks around the world pulled back sharply on Thursday on fears of a global growth slowdown spreading to Europe and renewed worries about any near-term resolution of U.S.-China trade tensions, while the U.S. dollar strengthened for a sixth session.

'Wall of money' flooding emerging markets after Fed change: IIF

LONDON (Reuters) - A "wall of money" is set to flood into emerging markets assets now the U.S. Federal Reserve has eased the risk of a sharp rise in global borrowing costs, the Institute of International Finance (IIF) said on Thursday.

Future of Airbus's A380 superjumbo in doubt as demand fades

A decision by Australian airline Qantas on Thursday to cancel an order for Airbus A380 superjumbos raised fresh questions about the future of the world's largest passenger jet, which has struggled to find enough buyers to justify its production. Launched with fanfare a decade ago, the double-decker plane capable of seating up to 850 people was hailed as a revolution for the industry as it prepared for soaring numbers of long-haul passengers. It was also seen as a bold challenger to Boeing and the US giant's stranglehold on the large-aircraft market. But after an initial spurt of orders the A380 has hit bumpy skies, with aviation experts suggesting its future is now in doubt. When one expert was asked if the whole programme could be wound up, he said: "Honestly, it seems inevitable." "Airbus is facing a difficult dilemma, and the more orders dwindle, the more it becomes pressing," said the expert, who asked to remain anonymous. "Economically, the programme is lopsided" and "the current

L'Oreal's fourth-quarter sales lifted by Asia, luxury products

PARIS (Reuters) - Lancome-owner L'Oreal on Thursday reported a higher than expected 7.7 percent rise in comparable sales in the fourth quarter, boosted by demand for its higher-end skincare products and a strong performance in Asia Pacific.

Kellogg posts loss on strong dollar, Brexit costs; shares slump

CHICAGO (Reuters) - Kellogg Co reported a fourth-quarter loss on Thursday as it suffered the effects of a strong dollar, the costs of an ongoing restructuring and preparations for Brexit.

Rs 1.32 lakh crore interim budget presented in Odisha

Odisha Finance Minister Sashi Bhusan Behera on Thursday presented a Rs 56,921 crore vote-on-account for the first four months of 2019-20 fiscal while tabling the Rs 1.32 lakh crore interim budget for the full year of 2019-20 in the Assembly.

Four aircraft grounded due to non-payment of dues: Jet Airways

Jet Airways told BSE on Thursday evening that four of its aircraft have been grounded due to non-payment of amounts outstanding to lessors under lease agreements. The airline added that it is "actively engaged with all its aircraft lessors" and "making all efforts to minimize disruption to its network due to above and is proactively informing and re-accommodating affected guests (passengers)". The airline said in a statement to BSE that it regularly provides aircraft lessors "on efforts undertaken by the company to improve its liquidity". It added:"Aircraft lessors have been supportive of the company's efforts in this regard". "The company also continues to provide required and periodic updates to the Directorate General of Civil Aviation (DGCA)," it added.

Exclusive: Dell explores sale of cyber security company SecureWorks - sources

(Reuters) - Computer maker Dell Technologies Inc is exploring a sale of SecureWorks Corp, a U.S. provider of cyber security services with a market value of close to $2 billion, people familiar with the matter said on Thursday.

Trump, Xi unlikely to meet before March 1 trade deadline: U.S. officials

WASHINGTON (Reuters) - U.S. President Donald Trump and Chinese President Xi Jinping are unlikely to meet before their countries' March 1 deadline to reach a trade deal, two U.S. administration officials and a source familiar with the negotiations said on Thursday.

Wall Street tumbles on growth worries, trade fears

(Reuters) - U.S. stocks sank over 1 percent to session lows on Thursday on fears that the United States and China would not be able to reach a trade deal with less than a month left in their fragile truce, adding to worries about a slowdown in global growth.

Lamborghini sees India in the fast lane, thanks to popularity of Urus

Lamborghini expects 60% growth this year and in the next five years India will be one of the top 15 markets for the company

Fiat Chrysler shares tumble as 2019 guidance disappoints

MILAN/DETROIT (Reuters) - Fiat Chrysler (FCA) shares fell 12 percent on Thursday after weaker-than-expected guidance for profits and industrial free cash flow this year raised doubts about the Italian-American carmaker's longer-term targets.

Tata Motors Group posts Q3 net loss of Rs 26,961 cr

Automobile major Tata Motors Group on Thursday reported a massive net loss of Rs 26,961 crore for the quarter ended December 31, 2018.

Wall Street extends slide on report Trump-Xi meeting unlikely before deadline

(Reuters) - U.S. stocks extended losses on Thursday after a CNBC report said a meeting between President Donald Trump and Chinese President Xi Jinping was "highly unlikely" to take place by a key March deadline, set by the two countries for reaching a trade deal.

U.S. weekly jobless claims retreat from 1-1/2-year high

WASHINGTON (Reuters) - The number of Americans filing applications for unemployment benefits dropped from near a 1-1/2-year high last week, but the decline was less than expected, suggesting some moderation in the pace of job growth.