Page 1579 - Business Finance
Brazil court grants ex-Nissan boss access to disputed Rio apartment
SAO PAULO (Reuters) - A Brazilian court decided on Wednesday that ousted Nissan Chairman Carlos Ghosn should have the right to access a contested Rio apartment to retrieve personal belongings, according to a legal document seen by Reuters.
United Airlines to add international routes from San Francisco
(Reuters) - United Continental Holdings Inc said on Wednesday it would add flights to New Delhi, Toronto and Melbourne from San Francisco, as the No. 3 U.S. airline looks to tap higher-paying international routes.
Mistry camp questions affirmative vote of trustee nominee directors on Tata Sons board
Cyrus Mistry camp Wednesday urged the National Company Law Appellate Tribunal (NCLAT) to amend the section 121 of the Article of Association (AoA) of Tata Sons, which gives trust nominees on its board powers of 'affirmative vote'. Senior advocate C A Sundaram appearing on behalf of the Cyrus Mistry camp submitted before the NCLAT that through section 121 of AoA of Tata Sons, nominee directors have full power of the board to conclude any decision. According to him, this undermines the role and authority of the board and needs an intervention. Section 121 of the AoA of Tata Sons mandates that important matter of Tata Sons can only be decided with the affirmative vote of trust nominee directors. Sundaram was appearing on behalf of Cyrus Mistry and two investment firms. The Tata side was represented by senior advocate Abhishek Manu Singhvi and others during the hearing. A two-member bench headed by NCLAT Chairman Justice S J Mukhopadhaya would continue its hearing tomorrow also. The ...
Centre asks IISc to design data site for smart cities
The Union Ministry of Housing and Urban Affairs has asked the Indian Institute of Science (IISc) to design a data site for information exchange among smart cities, the premier institute said on Wednesday.
Telangana's revenue growth highest in world: KCR
Telangana's revenue growth is the highest in the world, claimed Chief Minister K. Chandrashekhar Rao on Wednesday.
Activist fund Elliott set to shake up drinks giant Pernod
LONDON/PARIS (Reuters) - Elliott Management has built up a stake in Pernod Ricard and called on the family-backed French drinks company to boost profit margins and improve returns for investors.
U.S. consumer prices flat; underlying inflation firm
WASHINGTON (Reuters) - U.S. consumer prices were unchanged in November, held back by a sharp decline in the price of gasoline, but underlying inflation pressures remained firm amid rising rents and healthcare costs.
Techs power Wall Street higher on trade optimism
(Reuters) - U.S. stocks jumped on Wednesday, boosted by the technology sector, as indications that Beijing would ease its "Made in China 2025" industrial policy added to optimism fueled by President Donald Trump's upbeat comments on trade.
KKR sees India benefiting from U.S-China trade war
MUMBAI (Reuters) - India can benefit from the trade tensions between the United States and China, Henry Kravis, co-chief of KKR & Co Inc said on Wednesday, but he also said the country needed to cut back on red tape to attract more investment.
India's high growth enough to keep credit rating stable - S&P Global
LONDON (Reuters) - India's rapid economic growth will be enough to offset worries about the independence of its central bank and keep its credit rating in the coveted investment grade bracket, S&P Global said on Wednesday.
FDI inflows to South, South West Asia down 6 pc to USD 63 bn in 2017: UN report
FDI inflows to South and South-West Asia decreased by 6 per cent in 2017 due to a drop in foreign funding flow to countries like India and Turkey, a United Nations report said Wednesday. As per the UN Economic and Social Commission for Asia and the Pacific (ESCAP) report, the foreign direct investment (FDI) inflow to South and South-West Asia stood at USD 63 billion in the last calender year. "This relatively modest performance was due to a drop in FDI inflows in South-West Asia, including India and Turkey," it said. The report noted that while India remains the largest investment destination in the subregion, largely due to its large and growing market and attracted USD 22 billion FDI in the first half of 2018, the country slipped three notches to eleventh ranking in 2018, from 8th ranking in 2017 according to the AT Kearney FDI Confidence Index 2018. This is the first time it has fallen out of the top 10 since 2015, said the 'Asia-Pacific Trade and Investment Report (APTIR) 2018' ...
Global Markets: Stocks cheered by trade talk, sterling rises on May bets
NEW YORK (Reuters) - Stock markets around the world rose along with U.S. Treasury yields on Wednesday as U.S. President Donald Trump sounded upbeat about a China trade deal and sterling bounced on bets that UK Prime Minister Theresa May would keep her job.
Flipkart rejigs leadership team
Walmart-backed Flipkart has rejigged its senior leadership team, including appointment of Sriram Venkataraman as chief operating officer (COO). Venkataraman, who is currently the chief financial officer at Flipkart, is assuming the additional role as COO, according to an e-mail sent to employees by Flipkart CEO Kalyan Krishnamurthy. As part of the COO charter, he will be responsible for Ekart (logistics vertical), the marketplace and the retail vertical, he added. "...we are making a few significant changes to the organisational structure, effective immediately. These changes are part of a planned restructuring that will enable agile decision making, while also putting us on the path to developing more independent, yet collaborative teams," Krishnamurthy said. The leadership changes announced span marketing, operations, engineering and product, he added. Among other changes, Amar Nagaram from Flipkart will take over as head of engineering and product at Myntra, under CEO Ananth ...
Industry in agreement on need to cut levies, streamline GST issues: COAI
Industry body COAI on Wednesday asserted that there is an agreement among all operators on need for immediate relief on issues like cut in licence fee and spectrum charges, as well as release of GST input tax credit locked up with the government. The Cellular Operators' Association of India (COAI) stressed that there is no divergence of opinion on pain-points like need for reduction in levies, and all industry players as well as the sector regulator Telecom Regulatory Authority of India (TRAI) have highlighted these issues. "On the larger issue of need for a telecom relief package, a view can be taken by the telecom department based on their due diligence. On policy matters, government decisions ought not be based on majority or minority views but the facts of the situation," COAI Director General Rajan Mathews told PTI. The telecom department can undertake a comprehensive exercise to determine whether or not the industry is under financial stress, Mathews said. The COAI had earlier ..
Manufacturing lifts India's October industrial output higher (Second Lead, correcting headline)
Higher production in the manufacturing sector, especially of capital goods and consumer durables, accelerated the growth of India's industrial output to 8.1 per cent in October from a rise of 4.46 per cent in September and 1.8 per cent during the corresponding period of the previous fiscal, official data showed on Wednesday.
Industrial output sets tone for robust economic growth: India Inc on IIP data
India Inc on Wednesday cheered the encouraging October industrial production and said it sets the tone for a robust economic growth in the second half of the fiscal. India's industrial output grew at an 11-month high of 8.1 per cent in October mainly on the back of mining, power and manufacturing sectors coupled with higher offtake of capital as well as consumer durable goods. CII Director General Chandrajit Banerjee said IIP data augurs well for the narrative of economic strengthening, going forward. "The uptick in manufacturing growth also shows that the second half has started off on a positive note and would hopefully set the tone and tenor for growth for the second half of the fiscal," Banerjee said. Industry body Assocham said the strong growth performance of industrial activities in October is largely the result of strong domestic demand, exports and investment activities. During the April-October period, industrial output grew 5.6 per cent as compared to 2.5 per cent in the ...
Gadkari flags off first container mainline vessel at Tuticorin
Shipping Minister Nitin Gadkari Wednesday flagged off the maiden container mainline vessel at Tuticorin and said it will be a game changer in container traffic of south India. At present, containers from Tuticorin to Far East countries like Malaysia, Singapore, China and Hong Kong are transited by the feeder vessels to Colombo, where they are further connected to the mother vessel. "Gadkari, Union Minister for Shipping and Road Transport & Highways and Water Resources, River Development & Ganga Rejuvenation flagged off the first container mainline vessel from VoC Port (Tuticorin Port) along with Shri Edappadi K Palaniswami, Chief Minister, Tamil Nadu. He said this will be a game changer in container traffic of South India," the Ministry of Shipping said in a statement here. With mainline call being done directly at Tuticorin, there will be saving on account of the transshipment cost, the statement said. "EXIM trade will benefit and there will be a saving of approximately 50 ..
China preparing plan to increase access for foreign companies - WSJ
(Reuters) - China is planning to replace an industrial policy with a new program that promises greater access for foreign companies, the Wall Street Journal reported on Wednesday, in a move to resolve trade tensions with the United States.
Axel Springer weighs possible split of content, classifieds - CEO
FRANKFURT (Reuters) - Axel Springer is considering restructuring options including splitting its fast-growing digital classified advertising business from its content operation in a bid to enhance shareholder returns, CEO Mathias Doepfner said.
Oil pares gains as U.S. inventory draw smaller than expected
NEW YORK (Reuters) - Oil pared gains Wednesday after U.S. crude inventories fell less than expected, but remained supported by a cut in Libyan exports and an OPEC-led deal to trim output.