Page 1256 - Business Finance
Pratt and Whitney says working to minimise glitches
American aerospace manufacturer, Pratt and Whitney, on Tuesday said that it is working with its customers to minimise any disruption in operations.
Exclusive: No-deal Brexit puts Bentley's return to profit at risk
CREWE, England (Reuters) - Loss-making carmaker Bentley is on track to be profitable this year but a no-deal Brexit puts that at "fundamental risk", its boss told Reuters, adding that the chance of Britain leaving the EU on March 29 with a deal now seemed "fairly low."
Wall Street slips on global growth fears, weak corporate forecasts
(Reuters) - U.S. stocks fell more than 1 percent on Tuesday and were on course to end a four-day rally on fears of slowing global growth after the International Monetary Fund trimmed its outlook and weak forecasts by companies, including Johnson & Johnson.
Telecom Italia CEO seems to think separating network is not easy: Vivendi
MILAN (Reuters) - Telecom Italia's main shareholder Vivendi notes that the phone group's chief executive seems to view separation of its fixed line network as not that easy, a Vivendi spokesman said on Tuesday.
Domestic air passenger traffic up 19% at 13.9 cr in 2018
India's domestic air passenger traffic rose by 18.60 per cent in 2018 on a year-on-year basis to 13.90 crore, data released by the Directorate General of Civil Aviation (DGCA) showed on Tuesday.
China imposes anti-dumping duty on Indian chemical import
China has imposed anti-dumping duty on Indian and Japanese ortho-dichlorobenzene (ODCB) which will be effective from Wednesday.
Explainer: The shareholder puzzle facing airlines after Brexit
LONDON (Reuters) - Airlines that will no longer be majority owned by EU nationals once Britain leaves the European Union face the threat of losing their right to fly within the bloc after Brexit due to share ownership rules.
Exclusive: Colfax picks Goldman to sell Howden business - sources
LONDON/FRANKFURT (Reuters) - Colfax Corp is pressing ahead with plans to sell its air and gas handling unit Howden as part of a shift to focus on the medical devices industry and has hired Goldman Sachs to handle the process, four sources close to the matter told Reuters.
Schott clocks over 32% growth in India
German glass conglomerate Schott AG today announced sales of Rs 341 crore in India during 2017-18 (October 1, 2017 to September 30, 2018), marking an increase of 32.6 per cent in the year-on period which converted into 26.2 per cent after currency effects.The key growth driver segments for the country were Schott's tubing, pharma-packaging and flat glass for cooking.Murali Viswanathan, Managing Director of Schott India, said the Indian pharma industry is expected to grow over 15 per cent till 2020 and outperform the global pharma industry. "This, clubbed with the conducive environment for manufacturing industry enhanced via 'Make in India', has been a driving factor for our exemplary growth."Next to organic growth, Schott plans to further enhance its offerings through focused, strategic acquisitions. Seven mergers and acquisition transactions took place in the past fiscal year with a strong focus in the fields of big data and artificial intelligence.This expansion of the innovation ...
Huawei calls for swift end to case of executive arrested in Canada
DAVOS, Switzerland (Reuters) - China's Huawei Technologies wants a quick resolution of the case of its former finance chief Meng Wanzhou, who is accused of violating U.S. sanctions on Iran and has been detained in Canada, its chairman said on Tuesday.
Gold bounces as global growth worries weigh on equities
(Reuters) - Gold bounced back on Tuesday from multi-week lows touched in the previous session as mounting concerns of an economic slowdown exacerbated by a cut in the International Monetary Fund's global growth forecast drove investors to the safety of bullion.
ICICI Prudential Life Q3 net profit down 34% at Rs 297 cr
ICICI Prudential Life registered 34 per cent decline in its standalone net profit to Rs 296.77 crore in the third quarter ended December 31, 2018. The company had reported Rs 452.1 crore profit in the same period a year ago, the company said in a regulatory filing. The net premium income of the company increased by around 15 per cent to Rs 7,482.95 crore from Rs 6,795.13 crore in the year-ago period. The Board has approved an interim dividend of Rs 1.60 per equity share for the first half of the current fiscal 2019. The company's market share stood at 10.8 per cent among life insurance companies on a retail weighted received premium (RWRP) basis for the nine months ended December 2018. The company said in a statement that total premium witnessed a growth of 13.2 per cent to Rs 20,766 crore as against Rs 18,340 crore in the nine month period of last fiscal.
Naredco seeks rationalisation of real estate GST rates, resolution of liquidity crisis
The National Real Estate Development Council (Naredco) on Tuesday urged the government to rationalise the GST rates on under construction properties and also solve the liquidity crisis at the earliest.
Sin Pharma replaces domestic formulations distributor, changes auditor for subsidiaries
Sun Pharma Tuesday announced a slew of measures, including replacement of its domestic formulations distributor Aditya Medisales and change of auditors for its arms, in the wake of a second whistleblower complaint that raised corporate governance issues. The company also announced the settlement of a transaction amounting to Rs 2,238 crore with Atlas Global Trading -- with which it had a supply agreement -- that had arisen out a patent litigation settlement over Protonix. Last week, Sun Pharmaceutical asked market regulator Sebi to look into the issues of certain entities and individuals allegedly adopting unfair trade practices prejudicial to the company's shareholders. "Sun Pharma's distribution related to India domestic formulations business shall be transitioned from Aditya Medisales Ltd, the current distributor, to a wholly-owned subsidiary of Sun Pharma," the company said in a BSE filing. Aditya Medisales is reported to have had transactions of over Rs 5,800 crore with a real ...
Agri-food tech accelerator Gastrotope shortlists five startups
Agri-food tech accelerator Gastrotope Tuesday shortlisted five startups for the first cohort of its programme. Japanese investor and incubator Mistletoe, in partnership with GSF India and Infobride, had launched 'Gastrotope' in 2017 to invest in startups in agriculture and food processing sector. Over 150 applications were received for the programme and out of that five startups have been shortlisted, the company said in a statement. The companies shortlisted include Brown Foods by Lifenectar Health Care Pvt Ltd, which was founded in 2017 by Stanford, IIT Delhi and IIT Roorkee Alumni. It makes packaged food products using the healthiest ingredients sourced directly from farmers and deliver fresh at doorsteps. Credible by Agzaken Risk Management (OPC) Pvt Ltd has created agriculture specific risk management tools (AI-driven) for financial institutions and policy makers. It combines various data sources such as remote sensing, agri-commodities pricing and transactions data to provide ...
U.S. home sales hit three-year low, price gains slow
WASHINGTON (Reuters) - U.S. home sales tumbled to their lowest level in three years in December and house price increases slowed sharply, suggesting a further loss of momentum in the housing market.
U.S. existing home sales tumble to three-year low
WASHINGTON (Reuters) - U.S. home sales tumbled to their lowest level in three years in December and house price increases slowed sharply, suggesting a further loss of momentum in the housing market.
Swiss Railways will not take new Bombardier trains until earlier problems fixed
ZURICH/MONTREAL (Reuters) - Swiss Federal Railways said it would not take new trains from Bombardier until the Canadian company fixes the ones already in service, raising questions over the timing of future deliveries for the 1.9 billion Swiss franc ($1.9 billion) contract.
Starboard, Elliott tell eBay to sell assets, restructure
(Reuters) - Hedge funds Elliott Management and Starboard Value have taken stakes in eBay Inc and urged changes at the e-commerce platform including the sale of some of its businesses, which could release billions of dollars in capital.
Some want IBC not to be implemented: ArcelorMittal
After years of trying to get a foothold in India through a greenfield project and almost getting it via a brownfield acquisition, the world's largest steelmaker ArcelorMittal on Tuesday castigated corporate rivals for trying to sabotage its takeover bid of Essar Steel under the new bankruptcy rule.