Page 1590 - Business Finance
Oil pares gains along with equities after U.S. government shutdown threat
NEW YORK (Reuters) - Oil futures pared most of their gains on Tuesday as stock markets turned negative on worries about a possible U.S. government shutdown.
Wall Street pulls back after Trump's government shutdown threat
(Reuters) - The S&P 500 gave up most gains and Dow Industrials turned lower on Tuesday after President Donald Trump's threat to shut down the government over funding for a border wall undid the boost to markets from optimism over China-U.S. trade talks.
Gold steadies near 5-month peak as U.S. rate hike expectations ease
BENGALURU (Reuters) - Gold held steady near a five-month peak on Tuesday as expectations for fewer interest rate hikes by the U.S. Federal Reserve next year supported the non-yielding precious metal.
Verizon takes billions in charges for Oath, voluntary buyouts
(Reuters) - Verizon Communications Inc said on Tuesday it will take a $4.6 billion charge related to its Oath media assets - which includes digital media sites Yahoo and AOL - and a severance charge of up to $2.1 billion for voluntary buyouts in the fourth quarter.
EU says Vodafone, Liberty Global deal may hurt competition
BRUSSELS (Reuters) - Vodafone's $21.8 billion purchase of Liberty Global's assets in Germany and east Europe may hit competition in Germany and the Czech Republic, EU antitrust regulators said on Tuesday, as they opened a full-scale probe into the deal.
Morrisons shares rise on takeover chatter
LONDON (Reuters) - WM Morrisons shares jumped on Tuesday as traders cited market rumours that the UK supermarket chain could be subject to a takeover approach by U.S. online retail giant Amazon.com Inc.
Lithuania passes 2019 budget, no extra cash for striking teachers
VILNIUS (Reuters) - Lithuania's parliament approved a 2019 budget on Tuesday that boosts defence spending but does not meet demands of teachers who have gone on strike to demand higher wages.
French borrowing costs jump on Macron wage rises, tax cuts
LONDON (Reuters) - France's 10-year borrowing costs climbed to their highest level compared with Germany's in a year and a half on Tuesday, as President Emmanuel Macron announced spending measures after weeks of violent protests.
Tech stocks buoy Wall Street as China-U.S. trade talk progress
(Reuters) - U.S. stocks rose for the second straight day on Tuesday, led by technology companies on signs that China and the United States were moving toward resolving their bitter trade dispute that has roiled global equities markets for months.
Global Markets: Trade detente bounce masks unease over Brexit and growth
LONDON (Reuters) - Stocks jumped on Tuesday as investors clung to hopes of a detente in the China-U.S. trade war and picked through the rubble of conflagrations in other top economies, with heightened uncertainty over Brexit and French protests.
WTO members applied 137 new trade restrictive measures in 1 year: Report
Members of the World Trade Organisation (WTO) have applied as many as 137 new trade restrictive measures, including tariffs hikes and quantitative restrictions, during the one-year period starting October 2017, a report said Tuesday. There are 164 members of the Geneva-based global trade rule making body WTO, including India, China, the US and the UK. "The report shows that 137 new trade-restrictive measures were put in place by members during the review period, including tariffs increases, quantitative restrictions, import taxes and export duties," the WTO report said. This equates to an average of 11 new measures per month, which is higher compared to the average of nine recorded in the previous annual overview (mid-October 2016 to mid-October 2017), it added. It said that the trade coverage of the import-restrictive measures (USD 588.3 billion) is more than seven times larger than that recorded in the previous annual overview. Commenting on the report, WTO Director-General Roberto .
Reliance Jio to create separate fibre, tower companies
Reliance Jio on Tuesday said its Board of Directors has decided to hive off its fibre and tower businesses and form two separate companies.
Fintech startup Plaid valued at $2.65 billion in latest funding round - source
(Reuters) - Fintech startup Plaid has raised $250 million in its latest funding round led by one of Silicon Valley's top investors, Mary Meeker, which according to a source familiar with the matter values the company at $2.65 billion.
Turnaround specialist Justin King rejoins M&S as non-executive director
LONDON (Reuters) - British clothing and food retailer Marks & Spencer has hired Justin King, the former boss of supermarket chain Sainsbury's, as a non-executive director, adding another big-name industry veteran to its board.
ROPOSO raises $10 mn from Tiger Global, Bertelsmann India Investments
Short-video platform ROPOSO Tuesday said it has secured USD 10 million in funding, led by existing investors Tiger Global Management and Bertelsmann India Investments (BII). The company aims to leverage the capital infusion toward product technology, talent acquisition, and further expanding its 25 million-member community, ROPOSO said in a statement. ROPOSO has raised USD 31 million till date. We are growing at a phenomenal pace with our personalisation engine that caters to different types of audiences simultaneously... (We have) a monthly active user base of 7.5 million. At this rate, we are set to grow exponentially in the coming six months," Roposo CEO and co-founder Mayank Bhangadia said. Roposo has extensive plans to enter the micro markets of India, and build up resources for an aggressive game in the coming months, the statement said. ROPOSO has scaled explosively over the past year and BII is most excited about the management's focus on the quality of user engagement on the .
UBHL pleads with Karnataka HC not to wind up company
Liquor baron Vijay Mallya-linked UBHL has pleaded before the Karnataka High Court not to wind up the company to clear the debts related to his defunct Kingfisher Airlines Limited. The bankers and creditors have been pressing for the closure of the company to clear the debts owed by Mallya, wanted for alleged bank fraud and money laundering amounting to an estimated Rs 9,000 crores. Last year in February, the Karnataka High Court had ordered winding up of United Breweries (Holdings) Ltd (UBHL), the parent company of UB Group, for recovering dues payable by the UBHL-promoted Kingfisher Airlines Limited. UBHL deserves to be wound up for "failure to discharge" their duties to pay up their creditors, Justice Vineet Kothari had said in his order on petitions by banks and aircraft lessors. During the hearing of UBHL's interlocutory application filed before a division bench Monday, the company pleaded that it will furnish details of its assets and its contributories as well as the money that .
RBI to infuse Rs 10,000 crore liquidity into system Thursday via OMOs
The Reserve Bank will infuse Rs 10,000 crore into the market through open market operations (OMOs) on Thursday. Based on an assessment of prevailing liquidity conditions and also of the durable liquidity needs going forward, the Reserve Bank has decided to conduct purchase of government securities under Open Market Operations for an aggregate amount of Rs 100 billion on December 13, 2018, the RBI said in a release Tuesday. Earlier last week, the RBI had infused Rs 10,000 crore into the system to increase liquidity in the market in the aftermath of IL&FS crisis. The RBI has planned to infused Rs 40,000 crore during December based on its assessment of the durable liquidity needs. It had infused Rs 40,000 crore into the system in November, while Rs 36,000 crore was injected in October this year. The RBI had earlier stated that the system liquidity will move into deficit in the second half of 2018-19 and the evolving liquidity conditions would determine its choice of instruments for ..
Working closely with FinMin to ease credit flow to export sector: Commerce Ministry
In a bid to boost outbound shipments, the commerce ministry Tuesday said it is working closely with its finance ministry to take measures for ensuring adequate availability of funds to exporters. "Commerce ministry is working closely with the finance ministry to ease credit flow to the export sector, especially small exporters to ensure adequate availability of funds to them," it said in a statement. Federation of Indian Export Organisations (FIEO) President Ganesh Gupta has time and again demanded augmentation of credit flow to the export sector, as a sharp decline in credit would impact exports growth. It said that the commerce has identified 15 overseas locations including Astana (Kazakhstan), Beijing (China) Cape town (South Africa), Dubai (UAE), Frankfurt (Germany), London (UK), Melbourne (Austrialia), and New York (USA), where trade promotion organisations are proposed to be created. "India has great potential to generate greater volumes of export with these countries but at ...
NCLAT resumes hearing on Mistry camp petition against Tata
The National Company Law Appellate Tribunal (NCLAT) Tuesday resumed its hearing over the batch of petitions filed by ousted Tata group Chairman Cyrus Mistry and the two investment firms supporting him. During the proceedings, senior advocate C A Sundaram representing Mistry camp submitted that the new company law (the Companies Act, 2013) has expanded the scope of the minority protection from the previous Companies Act 1956. According to Sundaram, section 241 and 242 of the Companies Act, 2013 even cover the prejudicial acts against the minority shareholders besides oppressive acts. "The new company act also takes care of prejudicial acts against the minority shareholders," Sundaram submitted before a two-member bench headed by NCLAT Chairman Justice S J Mukhopadhaya. The Tata side was represented by senior advocates Harish Salve and Abhishek Manu Singhvi during the hearing. The appellate tribunal would continue its hearing tomorrow also. The Mistry camp had challenged the July 9 ...
Software firm Quali raises $22.5 million in VC-backed funding round
JERUSALEM (Reuters) - U.S.-Israeli software firm Quali said on Tuesday it raised $22.5 million in a private funding round led by Jerusalem Venture Partners (JVP).