Page 1171 - Business Finance
Indices provisionally end on a flat note
Key equity indices provisionally ended a tad lower after alternately swinging between positive and negative zone throughout the trading session. The barometer index, the S&P BSE Sensex, fell 1.25 points at 35,591.25. The Nifty 50 index fell 0.40 points at 10,651.80.
Apple opens new chapter as iPhone sales fall
Apple hoped to offset slowing demand for iPhones by raising the prices of its most important product, but that strategy seems to have backfired after sales sagged during the holiday shopping season. Results released Tuesday revealed the magnitude of the iPhone slump a 15 per cent drop in revenue from the previous year. That decline in Apple's most profitable product caused Apple's total earnings for the October-December quarter to dip slightly to USD 20 billion. Now, CEO Tim Cook is grappling with his toughest challenge since replacing co-founder Steve Jobs 7 years ago. Even as he tries to boost iPhone sales, Cook also must prove that Apple can still thrive even if demand doesn't rebound. It figures to be an uphill battle, given Apple's stock has lost one-third of its value in less than four months, erasing about USD 370 billion in shareholder wealth. Cook rattled Wall Street in early January by disclosing the company had missed its own revenue projections for the first time in 15 ..
OnePlus was best selling premium smartphone brand in 2018: Counterpoint
OnePlus has emerged as the best selling premium smartphone brand in 2018, according to Counterpoint Market Monitor Service.According to Counterpoint's recently released Q4 2018 report, the Shenzhen-based company has also captured 36% of the premium smartphone market retaining its No. 1 position for the third quarter consecutively. In the same quarter, Apple and Samsung's market share in the premium smartphone segment in India stood at 30% and 26% respectively.OnePlus 6 was the highest-selling model in the premium segment in 2018 followed by OnePlus 6T. OnePlus was also the fastest growing premium smartphone brand annually, growing at 85% YoY. During Q4, OnePlus 6T helped the brand to widen the market share gap with its nearest competitor, which is now at 10%.Karn Chauhan, Research Analyst at Counterpoint Research, said, "OnePlus recorded its highest ever shipments in a single quarter to lead the premium smartphone segment for three successive quarters. Additionally, the success of ...
Huawei excluded from Czech tax tender after security warning: paper
PRAGUE (Reuters) - The Czech tax authority has excluded Huawei from a tender to build a tax portal after the country's cyber watchdog warned of security threats posed by the Chinese telecoms supplier, the Mlada Fronta Dnes newspaper reported on Wednesday.
Siemens makes last ditch appeal for EU to approve rail merger
MUNICH (Reuters) - Siemens has made a last gasp appeal to European antitrust authorities not to be "backward-looking technocrats" and approve its planned rail merger with France's Alstom.
World stocks inch up before Fed as Apple relief offsets Brexit complications
MILAN (Reuters) - World stocks inched up and the dollar steadied on Wednesday ahead of policy guidance from the U.S. Federal Reserve, with Apple results providing relief while market confidence that a no-deal Brexit can be avoided took a hit.
Ghosn says Nissan executives used 'plot and treason' to halt Renault integration: Nikkei
TOKYO (Reuters) - Carlos Ghosn said Nissan executives opposed to his plans for closer ties with automaking partner Renault SA resorted to "plot and treason" to disrupt them and were behind the financial misconduct allegations against him.
Chittagong chamber seeks trade balance with India
The Chittagong Chamber of Commerce and Industry (CCCI) Wednesday said the huge trade deficit between Bangladesh and India needed to be bridged for which more Indian investments are required by the neighbouring country. Presently, Indian imports from Bangladesh is around USD 7 million, while exports to that country is USD 8 billion. Chittagong port provides a vital gateway to the seven north-eastern states of India and more border trade was needed between the two nations, CCCI president Mahbubul Alam said. Addressing a session at the Bengal Chamber of Commerce and Industry here, Alam said India had been given land for an exclusive economic zone (EEZ) in Mirsarai near Chittagong where Indian investors could avail the opportunity of a 10-year tax holiday and repatriation of profits back for a similar period. Similar zones were being set up by investors from China, Korea and Japan, he said.
Board of Vinati Organics takes note of change in directorate
At meeting held on 30 January 2019
Chinese EV carmaker NIO aims to raise $650 million via convertible bond
HONG KONG (Reuters) - Electric carmaker NIO Inc, among rivals to Tesla in China, launched a $650 million five-year convertible bond on Wednesday, aiming to use the proceeds to fund expansion.
New facts emerge about lending to Zee (IANS EXCLUSIVE)
New facts have emerged at the recent lenders meeting organised with Zee management. It has emerged that promoters loans directly or indirectly against the security of their listed Zee Entertainment shares stand at over Rs 13,000 crore, adding to the group's liability.
Nasdaq bids USD 770 mn for Oslo bourse
US exchange operator Nasdaq said Wednesday it was launching a friendly offer worth USD 770 million (673 million euros) for the Oslo bourse, topping a bid from rival Euronext. In a statement, Nasdaq said it had already received acceptances from shareholders holding more than 35 per cent of the stock. In December, European stock market operator Euronext launched a 625 million euro takeover bid to acquire the Oslo Stock Exchange. Euronext operates stock exchanges in Paris, Amsterdam, Brussels, Dublin and Lisbon. Euronext said at the time that if the deal went through, Oslo's leading position in seafood derivatives, oil services and shipping "would further strengthen Euronext's position as the leading market infrastructure for the financing of the real economy in Europe." Euronext said it had received acceptances from more than 50 per cent of shareholders for its offer. The board of directors of Oslo bourse said Wednesday it considered the Nasdaq offer "the best alternative for all ...
DHFL stock falls over 10% after Cobrapost allegations
Dewan Housing Finance Corp (DHFL) continued to witness heavy selling pressure on Wednesday, falling over 10 per cent, a day after news website Cobrapost claimed that the primary promoters of DHFL siphoned off over Rs 31,000 crore of public money.
Huawei excluded from Czech tender after security warning - paper
PRAGUE (Reuters) - The Czech tax authority has excluded Huawei from a tender to build a tax portal after the country's cyber watchdog warned of security threats posed by the Chinese telecoms supplier, the Mlada Fronta Dnes newspaper reported.
Board of Bajaj Auto approves grant of 50 lakh options
At meeting held on 30 January 2019
Indian Oil Corporation declines after weak Q3 outcome
Indian Oil Corporation fell 2.33% to Rs 134.30 at 14:54 IST on BSE after net profit fell 90.91% to Rs 716.82 crore on 26.47% increase in net sales to Rs 1,39,968.87 crore in Q3 December 2018 over Q3 December 2017.
Godrej Consumer Products Ltd leads losers in 'A' group
Linde India Ltd, Reliance Communications Ltd, Dewan Housing Finance Corporation Ltd and Indiabulls Housing Finance Ltd are among the other losers in the BSE's 'A' group today, 30 January 2019.
Manaksia Coated Metals & Industries Ltd leads losers in 'B' group
TV Vision Ltd, Sri Adhikari Brothers Television Network Ltd, Blue Blends (India) Ltd and Ultracab (India) Ltd are among the other losers in the BSE's 'B' group today, 30 January 2019.
Bajaj Auto skids after Q3 results
Bajaj Auto fell 2.06% to Rs 2514 at 14:35 IST on BSE after consolidated net profit rose 20.49% to Rs 1,220.77 crore on 15.96% increase in net sales to Rs 7,243.07 crore in Q3 December 2018 over Q3 December 2017.
Volumes jump at Hatsun Agro Product Ltd counter
Hatsun Agro Product Ltd saw volume of 7.38 lakh shares by 14:19 IST on NSE, a 33.05 fold spurt over two-week average daily volume of 22318 shares