Page 1369 - Business Finance
Jaguar Land Rover to cut thousands of UK jobs after China, diesel slump: source
LONDON (Reuters) - Britain's biggest carmaker Jaguar Land Rover (JLR) is set to announce "substantial" job cuts in the thousands, a source told Reuters, as the company faces double-digit drops in demand in China and a slump in sales for diesel cars in Europe.
Manila ex-banker gets jail, $109 mn fine over Bangladesh cyberheist
A Philippine ex-banker was handed a lengthy jail term and $109 million fine Thursday in the first conviction over one of the biggest ever cyberheists which saw $81 million stolen from Bangladesh's central bank. Shadowy hackers transferred the cash in 2016 from Bangladesh's US accounts to Philippine bank Rizal Commercial Banking Corp (RCBC), where it was swiftly withdrawn. The theft exposed the Philippines as a haven for dirty money, where some of the world's strictest bank secrecy laws protect account holders from scrutiny. A Manila court found Maia Deguito, who was an RCBC branch manager where the money landed, guilty on eight counts of money laundering which carry a minimum of four years each behind bars. The court also ordered her to pay $109 million in fines. Deguito plans to appeal and can remain free on bail until the conviction is finalised. Authorities charged that Deguito helped coordinate the transfer of the money, which was taken from Bangladesh's reserves account at the ...
Bajaj Auto Ltd gains more than 1%
Bajaj Auto Ltd is quoting at Rs 2726.1, up 1.08% on the day as on 12:49 IST on the NSE. The stock is down 14.63% in last one year as compared to a 1.61% gain in NIFTY and a 24.58% gain in the Nifty Auto index.
Gold futures rise to Rs 32,109 on firm global cues
Gold prices rose by Rs 108 to Rs 32,109 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 108, or 0.34 per cent, to Rs 32,109 per 10 gram, in a business turnover of 15,159 lots. Similarly, the March rates for the precious metal was up by Rs 119, or 0.37 per cent, to Rs 32,194 per 10 gram with a business volume of 4,505 lots. Analysts said raising of bets by participants, taking positive cues from global market as weakness in dollar raised demand for the precious metal as a safe-haven, mainly pushed up gold prices. Globally, gold rose 0.53 per cent to trade at USD 1,296.17 an ounce in Singapore.
Gold gains as dovish Fed, U.S. political impasse drag dollar
BENGALURU (Reuters) - Gold prices rose on Thursday as growing expectations that the U.S. Federal Reserve will pause its rate tightening cycle this year and an impasse between U.S. President Donald Trump and Democrats on funding for a border wall weighed on the dollar.
Tesco outperforms market with 2.2 percent rise in Christmas sales
LONDON (Reuters) - Tesco, Britain's biggest retailer, beat forecasts with a 2.2 percent rise in like-for-like sales in Britain over Christmas, saying it outperformed the market in food, clothing and general merchandise.
Hong Kong Stocks flat after weak China data
The meetings this week which are the first ever face-to-face talks since U.S. President Donald Trump and his Chinese counterpart Xi Jinping agreed to a 90-day truce have rejuvenated risk appetite, easing fears of an all-out trade war and its possible impact on global growth. Earlier, U.S. and Chinese officials said progress had been made during the three days of talks in Beijing. While major hurdles remain, the talks appeared to clear a path for higher-level negotiations that could further ease trade tensions before President Donald Trump's March deadline, when he said he will raise tariffs on more than $200 billion in Chinese-made good from 10% to 25%.
PVR Ltd spurts 1.54%, up for fifth straight session
PVR Ltd is quoting at Rs 1637.6, up 1.54% on the day as on 12:44 IST on the NSE. The stock is up 12.11% in last one year as compared to a 1.63% jump in NIFTY and a 29.01% jump in the Nifty Media.
Tata Motors-DVR up for fifth session
Tata Motors-DVR is quoting at Rs 98, up 1.14% on the day as on 12:44 IST on the NSE. The stock is down 61.43% in last one year as compared to a 1.63% spurt in NIFTY and a 24.59% spurt in the Nifty Auto.
Tata Motors Ltd soars 1.53%, up for fifth straight session
Tata Motors Ltd is quoting at Rs 185.85, up 1.53% on the day as on 12:44 IST on the NSE. The stock is down 57.25% in last one year as compared to a 1.63% spurt in NIFTY and a 24.59% spurt in the Nifty Auto.
Amara Raja Batteries Ltd stays well supported
Amara Raja Batteries Ltd is quoting at Rs 759.45, up 2.52% on the day as on 12:44 IST on the NSE. The stock is down 11.99% in last one year as compared to a 1.63% jump in NIFTY and a 24.59% jump in the Nifty Auto.
Global Markets: Most Asia shares inch up as signals on trade talks awaited
TOKYO (Reuters) - Asian shares edged up on Thursday on a weaker dollar and hopes of more economic stimulus in China, but many stocks seesawed as markets awaited some details on this week's U.S.-China trade talks amid hopes an all-out trade war can be averted.
Jaguar Land Rover to make 'substantial' job cuts after China, diesel slump: source
LONDON (Reuters) - Britain's biggest carmaker Jaguar Land Rover (JLR) is set to announce "substantial" job cuts in the thousands, a source told Reuters, as the company faces double-digit drops in demand in China and a slump in sales for diesel cars in Europe.
Pakistan eyes investment pacts with Saudi Arabia, UAE
ISLAMABAD (Reuters) - Pakistan expects to sign investment agreements with Saudi Arabia and the United Arab Emirates in the coming weeks, the prime minister's office said, as Islamabad builds on its ties with states that have recently lent it billions of dollars.
China Market lost ground after weak data
The meetings this week which are the first ever face-to-face talks since U.S. President Donald Trump and his Chinese counterpart Xi Jinping agreed to a 90-day truce have rejuvenated risk appetite, easing fears of an all-out trade war and its possible impact on global growth. Earlier, U.S. and Chinese officials said progress had been made during the three days of talks in Beijing. While major hurdles remain, the talks appeared to clear a path for higher-level negotiations that could further ease trade tensions before President Donald Trump's March deadline, when he said he will raise tariffs on more than $200 billion in Chinese-made good from 10% to 25%.
Barometers extend intraday losses
Key equity indices extended losses and hit fresh intraday low in early afternoon trade. At 12:20 IST, the barometer index, the S&P BSE Sensex, was down 93.54 points or 0.26% at 36,119.37. The Nifty 50 index was down 31.40 points or 0.29% at 10,823.75. Investors booked profits after market gained in past four trading session.
Markets start on a shaky note; Sensex down 85.57 points, Nifty falls 32.20 points at mid-day
After witnessing four continuous days of winning momentum the BSE Sensex and NSE's Nifty 50 opened on a shaky note on Thursday with investors waiting for clarity on the US-China trade talks held on Wednesday. The December quarter results are also keeping investors in wait and watch mode. At 12The top performing shares at BSE were RCF, Linde India, Vakrangee, Wabag and South Bank. The top losers were Tata Steel, DCM Shriram, Phoenix Ltd, Hind Petro, and Delta Corp. At NSE the top gainers were Tata Motors, NTPC, UPL, Eicher Motors, and Bajaj Auto. The top losers were Hind Petro, IndusInd Bank, Infratel, Grasim and BPCL.
Uniqlo's Fast Retailing blames warm winter for surprise profit decline
TOKYO (Reuters) - Uniqlo operator Fast Retailing Co Ltd reported an unexpected decline in quarterly profit on Thursday, blaming warm weather for hurting winter clothing sales even as its Chinese business shrugged off concerns of a decelerating economy.
Australia Market ends edge higher
The meetings this week which are the first ever face-to-face talks since U.S. President Donald Trump and his Chinese counterpart Xi Jinping agreed to a 90-day truce have rejuvenated risk appetite, easing fears of an all-out trade war and its possible impact on global growth. Earlier, U.S. and Chinese officials said progress had been made during the three days of talks in Beijing. While major hurdles remain, the talks appeared to clear a path for higher-level negotiations that could further ease trade tensions before President Donald Trump's March deadline, when he said he will raise tariffs on more than $200 billion in Chinese-made good from 10% to 25%.