Page 1150 - Business Finance
H&M sticks to dividend despite surprise fourth-quarter profit fall
STOCKHOLM (Reuters) - Fashion retailer H&M reported an unexpected fall in quarterly pretax profit on Thursday, hit by lingering costs to upgrade its logistics, but kept its dividend unchanged while assuring investors its group-wide overhaul was gaining traction.
UK house prices stagnate ahead of Brexit: Nationwide
LONDON (Reuters) - British house prices rose by just 0.1 percent in annual terms in January, their weakest increase in nearly six years, adding to signs of a slowdown in the country's housing market ahead of Brexit, data from mortgage lender Nationwide showed.
Gold futures up Rs 93 on firm demand, global cues
Gold prices rose by Rs 93 to Rs 32,992 per 10 gram in futures trade Thursday as speculators widened their bets, tracking a firm trend overseas. At the Multi Commodity Exchange, gold for delivery in February was trading higher by Rs 93, or 0.28 per cent, to Rs 32,992 per 10 gram, in a business turnover of 3,849 lots. Similarly, the April rates of the precious metal was up by Rs 74, or 0.22 per cent, at Rs 33,008 per 10 gram, with a business volume of 16,744 lots. Analysts said raising of bets by participants, taking positive cues from global market mainly pushed up gold prices at futures trade here. Globally, gold rose 0.81 per cent to trade at USD 1,320.55 an ounce in Singapore.
China central bank unveils plan to build Shanghai into a financial centre
BEIJING (Reuters) - China's central bank issued a plan on Thursday on building Shanghai into an international financial centre, and reiterated that it will step up the opening of its financial services sector.
Fed rate pause keeps gold near 8-month highs; eyes fourth monthly gain
(Reuters) - Gold prices on Thursday held near eight-month highs hit in the previous session, as the dollar weakened after the U.S. Federal Reserve paused its monetary tightening cycle, putting bullion on course for its fourth straight monthly gain.
Diageo's half-year sales rise on India, China demand; announces share buyback
(Reuters) - Diageo Plc, the world's largest spirits company, reported higher half-year sales on Thursday, helped by strength in India and China.
H&M fourth-quarter pretax profit lags consensus, keeps dividend unchanged
STOCKHOLM (Reuters) - Swedish fashion retailer H&M reported on Thursday an unexpected fall in fiscal fourth-quarter pretax profit, hit by lingering costs to upgrade its logistics systems, but kept its annual dividend payout unchanged.
Diageo's HY sales rise on India, China demand; announces share buyback
(Reuters) - Diageo Plc, the world's largest spirits company, reported higher half-year sales on Thursday, helped by strength in India and China.
ZestMoney aims to disburse skill loans worth $100 mn
ZestMoney, India's largest digital consumer lending company, on Thursday announced plans to grant over USD 100 million in skill loans to executives in 2019.The company has partnered with Byjus, UpGrad, Manipal, Great Learning (Great Lakes Institute of Management), NMIMS, Udacity, Springboard among others for disbursal of loans."Our endeavour is to empower every Indian with the power of credit and support their pursuits. For majority of executives, acquisition of skills is an important aspect of career growth, and for ZestMoney, the vertical currently contributes 25% of revenues. With steady growth, we look to disburse over USD 100 million in loans this year for skill education through our partners," said Lizzie Chapman, Co-founder and CEO of ZestMoney.The higher education industry in India is expected to grow to USD 35.03 billion by 2025. The education sector in India is estimated to be valued at USD 91.7 billion in FY18, and is expected to reach USD 101.1 billion in FY19.A user can ..
Clariant Chemicals (India) intimates of withdrawal of rating for bank facilities by CARE
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Board of Compuage Infocom approves increase in authorised share capital
At meeting held on 31 January 2019
Oil stocks gain
Key indices held firm in early afternoon trade after an intraday spurt. At 12:28 IST, the barometer index, the S&P BSE Sensex, was up 388.12 points or 1.09% at 35,979.37. The Nifty 50 index was up 97.60 points or 0.92% at 10,749.40. Oil stocks gained.
Fed rate pause keeps gold near eight-month highs; eyes fourth monthly gain
(Reuters) - Gold prices on Thursday held near eight-month highs hit in the previous session, as the dollar weakened after the U.S. Federal Reserve paused its monetary tightening cycle, putting bullion on course for its fourth straight monthly gain.
Chinese EV carmaker NIO raises $650 million via convertible bond
HONG KONG (Reuters) - Electric carmaker NIO Inc, one of the main rivals to Tesla in China, raised $650 million in a five-year convertible bond on Thursday, aiming to use the proceeds to fund expansion.
Preview: Saudi Arabia may hold most oil prices to Asia steady in March, Venezuela impact eyed
SINGAPORE (Reuters) - Saudi Arabia is expected to keep prices for most of the crude grades it sells to Asia little changed in March, with most attention on heavier grades following sanctions on Venezuela, traders said on Thursday.
Fitch warns of fiscal slippage if govt goes for populist interim budget
Ahead of BJP-led NDA government presenting the final budget of its tenure, Fitch Ratings Thursday warned of a second consecutive year of fiscal slippage in the event of Finance Minister Piyush Goyal resorting to populist spending to win over lost vote base. The interim budget to be presented Friday could give some indication of the government's commitment to fiscal consolidation, which is one of the main sensitivities in the sovereign ratings, Fitch said. "Pressure for new expenditure to attract votes, particularly among rural and small-business owner voters, has increased as polls have shown the ruling Bharatiya Janata Party (BJP) is becoming less assured of victory in the general elections. "The BJP has reportedly lost votes in some recent state elections due to rural distress and public concerns over job creation. Targeted cash programmes appear the most likely form of support, as they would avoid downside risks of alternatives, such as the farm loan waivers that undermined the ...
Nomura posts second straight quarterly loss on wholesale segment write-off
TOKYO (Reuters) - Nomura Holdings, Japan's biggest brokerage and investment bank, posted on Thursday a second consecutive quarterly loss, hurt by a big write-off in its wholesale segment.
Zuppa Eyes $1.85bn Global Counter Drone Market With Launch of India's First NPNT Compliant Drone Tracker
/ -- Zuppa D'Track RFM launched by the only Indian drone autopilot manufacturer is compliant with all regulatory requirements for drones The completely indigenously designed and manufactured NPNT Compliant RFM provides a 'Make in India' opportunity to tap the massive global market for passive and aggressive counter drone products, which is witnessing a CAGR of 24.1% The device is equipped to track route and altitude violations, tampering, crashes and can be commanded remotely by authorities to land in the event of geo-fence violations posing threat to airliners around airports Sree Sai Aerotech Innovations Pvt Ltd., which is the only completely indigenous manufacturer of Made-in-India drone autopilots and GPS Tracking Systems under the brand name of Zuppa, has set its sight on tapping the $1.85 billion global market for 'Regulatory Flight Modules' (RFM) with the development and launch of India's first and only 'Counter Drone' product - Zuppa NPNT Compliant RFM 'Zuppa D'Track'. The ...
ICICI Bank shares rise over 3%
Shares of ICICI Bank rose by over 3 per cent Thursday after its asset quality improved in the December 2018 quarter. Shares of the bank gained 3.10 per cent to Rs 376.60 on BSE. On the NSE, it rose by 2.93 per cent to Rs 376.65. The country's largest private sector lender ICICI Bank Wednesday reported improvement in its asset quality with gross non-performing assets (NPAs) falling to 7.75 per cent of gross loans at December-end 2018 compared to 7.82 per cent a year ago. The bank posted a 2.7 per cent decline in standalone net profit to Rs 1,604.91 crore for the third quarter ended December 2018. It had registered Rs 1,650 crore net profit in the corresponding quarter of 2017-18. The total income rose to Rs 20,163.25 crore during the quarter as compared to Rs 16,832.22 crore in the same period a year ago, ICICI Bank said in a statement. Net NPAs, too, came down to 2.58 per cent of total advances from 4.20 per cent at December-end 2017. Also, an independent enquiry panel Wednesday ...
Global Markets: Asia stocks climb to four-month high as Fed turns more cautious; dollar sags
TOKYO (Reuters) - Asia stocks rose to a four-month high on Thursday after the Federal Reserve pledged to be patient with further interest rate hikes, signalling a potential end to its tightening cycle amid signs of slowing global growth.