Page 1309 - Business Finance
Brexit deal defeat knocks London's blue chip stocks as pound weighs
LONDON (Reuters) - Britain's blue chip stocks fell on Wednesday as a stronger pound lured investors toward cheap domestic companies and away from exporters after Prime Minister Theresa May's heavy Brexit defeat, while weak results weighed on Pearson.
Oil steady a day after big gain; rising U.S. fuel stocks weigh
NEW YORK (Reuters) - Oil prices steadied on Wednesday after a 3 percent rise during the previous session, after data showed growing U.S. refined product inventories and record crude production, which could undermine global efforts to support prices.
Prime Minister to inaugurate three-day Vibrant Gujarat summit
Prime Minister Narendra Modi arrives here on Thursday on a three-day visit to his home state to thrown open his pet biennial Vibrant Gujarat Global Summit besides other events in the capital and Ahmedabad.
Goldman Sachs CEO apologises for ex-banker's role in 1MDB scandal
(Reuters) - Goldman Sachs Group Inc Chief Executive Officer David Solomon on Wednesday apologised to the Malaysian people for former banker Tim Leissner's role in the sovereign wealth fund 1MDB scandal, but said the bank had conducted due diligence before every transaction.
Ford sees weaker-than-expected fourth quarter, uncertainty in 2019
DETROIT (Reuters) - Ford Motor Co forecast a weaker-than-expected fourth quarter profit and provided a cloudier 2019 outlook due to tariff costs and uncertainty over Britain's exit from the European Union, sending shares down more than 3.5 percent on Wednesday.
Businesses cry out for Brexit clarity, warn of no-deal chaos
LONDON (Reuters) - Business leaders in Britain and beyond warned on Wednesday of catastrophic job losses and chaos at ports if the country does not agree a European Union withdrawal, turning up the heat on politicians to deliver clarity.
Arata Zero Chemicals raises seed funding worth Rs 3.5 cr
Personal care brand Arata Zero Chemicals has raised a Rs 3.5 crore seed funding.
World stocks rise; sterling up ahead of May vote
NEW YORK (Reuters) - Major world stock indexes rose on Wednesday, with the S&P 500 supported by gains in U.S. bank stocks after strong earnings, while the pound edged up ahead of a no-confidence vote in British Prime Minister Theresa May's government.
Reckitt Benckiser CEO Rakesh Kapoor to retire after setbacks mar latter years
(Reuters) - Reckitt Benckiser Chief Executive Rakesh Kapoor will retire in 2019 after setbacks in recent years, paving the way for a potential change in strategy or break-up of the British consumer goods maker.
U.S. import prices fall; year-on-year drop largest since 2016
WASHINGTON (Reuters) - U.S. import prices fell for a second straight month in December as the cost of petroleum products tumbled and a strong dollar curbed prices of other goods, leading to the largest year-on-year drop in more than two years.
Reckitt Benckiser CEO to retire after setbacks mar latter years
(Reuters) - Reckitt Benckiser Chief Executive Rakesh Kapoor will retire in 2019 after setbacks in recent years, paving the way for a potential change in strategy or break-up of the British consumer goods maker.
Oil falls, weighed by rising U.S. fuel stocks, crude output
NEW YORK (Reuters) - Oil prices edged lower on Wednesday after data showed growing U.S. refined product inventories and record crude production, which could undermine global efforts to support prices.
PACL case: Sebi panel receives details of additional 13,863 properties
Markets regulator Sebi Wednesday said the committee headed by Justice R M Lodha in the PACL Ltd case has received details of additional 13,863 properties of the real estate firm. The committee already has the details of around 29,000 properties of PACL. The details of additional 13,863 properties is received by the committee and "the same have been made available for viewing on https://www.sebipaclproperties.com," the regulator said in a release. PACL also known as Pearl Group, which had raised money from the public in the name of agriculture and real estate businesses, was found by Sebi to have collected these funds through illegal collective investment schemes over 18 years. The panel, headed by former Chief Justice of India Lodha, is overseeing the process of disposing of properties to refund investors after verifying their genuineness. The Securities and Exchange Board Of India (Sebi) had set up the high-level committee following a Supreme Court order.
Gains in Goldman, BofA send Wall St to four-week high
(Reuters) - Bank shares drove Wall Street's main indexes to a one-month high on Wednesday after strong earnings from Bank of America and Goldman Sachs, with a multi-billion dollar deal in the fintech sector also helping a risk-on sentiment.
Bengal to develop deep sea port at Tajpur on its own: Mamata
West Bengal Chief Minister Mamata Banerjee on Wednesday said the state would develop the proposed deep sea port on its own at Tajpur of East Midnapore district.
CCEA Meeting: Rs 22,594 crore to increase the capacity of Assam's Numaligarh refinery
Coal and Railway Minister Piyush Goyal on Wednesday said the Cabinet Committee on Economic Affairs (CCEA) has sanctioned Rs 22,594 crore to increase the capacity of Assam's Numaligarh refinery by three times to fulfill the petroleum needs in the entire northeast region.Briefing media persons after the Cabinet and CCEA meeting chaired by Prime Minister Narendra Modi, Goyal said the Central government has given its approval to the project for capacity expansion of Numaligarh refinery from three million metric tonne per annum (MMTPA) to 9 MMTPA.The project involves setting up a crude oil pipeline from Paradip to Numaligarh and product pipeline from Numaligarh to Siliguri at a cost of Rs 22,594 crore. The project is to be completed within a period of 48 months, after approval and receipt of statutory clearances."The total project cost of Rs 22,594 crore will be financed by a mix of debt, equity and viability gap funding (VGF). The debt of Rs 15,102 crore will be raised by Numaligarh ...
IAF flypast to include bio-fuel-driven aircraft on Republic Day
The Indian Air Force (IAF) flypast ceremony this Republic Day will include aircraft flying on bio-fuel extracted from jatropha plant seeds, the IAF said on Wednesday.
Jet's resolution plan under active consideration, scrip falls over 7%
Financially stressed Jet Airways on Wednesday said that a resolution plan to infuse capital and reduce debt of the company is under active consideration.
Traders warn government against delay in enforcing new FDI norms
Traders' body Confederation of All India Traders (CAIT) on Wednesday urged the government not to accept the demand by e-commerce majors to delay implementing the new foreign direct investment (FDI) rules in e-Commerce, while acceeding to such a delay would result in the government losing the votes of small traders in the coming general elections.
Lenders, other stakeholders working on resolution plan; no decision yet: Jet Airways
Crisis-hit Jet Airways Wednesday said discussions are "progressing well" with stakeholders on a comprehensive resolution plan that also contemplates equity infusion and consequent changes in its board of directors. Amid concerns over Jet Airways' financial position and battering of shares on the stock exchanges, the airline said it continues to ensure that the safety and operations are not impacted. On Wednesday, the civil aviation ministry expressed hope that the airline, its strategic partner Etihad and lenders reach a "common plan" to deal with the situation. Sources said Jet Airways officials held a meeting with lenders. Specific details about the meeting could not be immediately ascertained. In an unusual move, the airline issued two statements on Wednesday, saying that it has been working on various cost cutting measures, debt reduction and funding options. The full service carrier, which has been grappling with financial woes, defaulted on loan repayment to a consortium of ...