Page 1591 - Business Finance
Salini could team up with Italian partners in Astaldi bid
MILAN (Reuters) - Italian construction company Salini Impregilo could team up with other Italian partners in its bid for troubled builder Astaldi, the group's chief financial officer said on Tuesday.
Insight: Brexit Britain's financial sector faces "slow puncture"
LONDON (Reuters) - Life in London's financial district will appear little changed when Britain leaves the European Union on March 29, defying predictions of an exodus of high-flyers to rival centres like Paris, Frankfurt and Dublin.
India moves fast to name backer of Modi demonetisation as RBI head
MUMBAI (Reuters) - The Indian government has appointed former finance ministry official Shaktikanta Das as new governor of the Reserve Bank of India (RBI) in a move that could help to end a rift with Prime Minister Narendra Modi's administration as it seeks to ease lending curbs ahead of a general election.
Famous Brand's UK burger chain shuts 14 struggling stores
JOHANNESBURG (Reuters) - South Africa's Famous Brands said on Tuesday its UK-based unit Gourmet Burger Kitchen (GBK) has closed 14 out of 17 under-performing stores following the approval of a restructuring plan by creditors.
Australian company targets 'under-explored' gas in Portugal
LISBON (Reuters) - A search for hydrocarbons in Portugal's onshore Lusitanian basin could reveal enough natural gas to supply the whole country for two-and-a-half years, according to the boss of Australis Oil & Gas, which has exclusive rights to two concessions in the area.
BlackRock and peers slash research budgets as new EU rules squeeze brokers
LONDON (Reuters) - BlackRock and other investment houses have slashed their budgets for external research by as much as half after the introduction of new European Union rules, piling pressure on stockbrokers, a senior executive at the world's top asset manager said on Tuesday.
UK's Hammond opposes easing rules to boost finance after Brexit
LONDON (Reuters) - Britain will remain a pre-eminent global financial centre after Brexit with an agile, but not lax, system of financial regulation, finance minister Philip Hammond said on Tuesday.
EU demand for construction steel still well below pre-crisis levels - ArcelorMittal
PARIS (Reuters) - Europe's demand for construction steel is down nearly 20 percent versus its pre-financial crisis peak, with the market still battling excess capacity, ArcelorMittal, the world's biggest steelmaker, said on Tuesday.
Mitek rejects ASG's latest offer, says undervalues company
(Reuters) - Mitek Systems Inc on Tuesday rejected ASG Technologies Group Inc's latest buyout offer, saying it undervalued the financial technology provider.
Swarovski opens store in Bengaluru
Swarovski, a designer and manufacturer ofcrystals andgem stones in Austria, plans to open two or three stores in India in the coming years. Announcing this at the inauguration of its first store here, senior vice-president of the company Roger Carthew said, ''We are planning to open two or three stores in the country over the coming years.'' Going by the overwhelming response here, he said the consumers in the country preferred the traditional, modern and contemporary chandeliers that Swarovski manufactures. ''We worked hard in the Bengaluru market to find the right partner, to find the right partner that loves quality...we were overjoyed when we decided to go into partnership with Lightsquare and open this beautiful showroom here,'' a press release quoted Carthew as saying.
Air India calls bids to sell Nariman Point building
Debt-ridden national carrier Air India has called for bids to sell the iconic 23-storey -- Air India Building -- located at Nariman Point in Mumbai.
Railways to discontinue mela surcharge
Just ahead of the Kumbh Mela in January, the railways said it has decided to discontinue 'mela surcharge', an extra charge levied on passengers during major fairs. In an order issued Tuesday, the Railway Board said the 'mela surcharge' was being discontinued. The railways imposes the surcharge on booking or purchase of railway tickets at places across the country where fairs are organised to meet its extra-internal expenditure on the fairs. "The Ministry of Railways has decided to discontinue the levy of 'mela surcharge' with effect from December 11, 2018," the circular said.
Oil gains as global equities climb, Libya output drops
LONDON (Reuters) - Oil rose almost $1 on Tuesday, recovering some of the previous session's losses with the help of gains in global stocks, a slightly weaker dollar and an outage hurting Libyan production.
Cryptoassets should be "outlawed" - Allianz GI CEO
LONDON (Reuters) - The head of one of Europe's largest asset managers has called for global regulators to ban cryptoassets, scorning them for wiping out people's savings.
Hiring declines marginally by 1% in Nov: Report
Hiring activity in the country witnessed a marginal year-on-year decline of 1 per cent in November due to the festive season of Diwali, led by auto, banking and financial services sectors, a report said Tuesday. Industries such as auto and banking/financial services witnessed a dip of 4 per cent and 23 per cent, respectively, in November, according to the Naukri JobSpeak Index for November 2018. The index has been calculated based on job listings added to the site month on month. July 2008 has been taken as the base month with a score of 1,000 and the subsequent monthly index is compared with data for July 2008. Meanwhile, the report revealed that the healthcare industry saw a remarkable rise during the reporting month in terms of hiring recording a 34 per cent growth annually. The human resource/administration domain witnessed a growth of 10 per cent. Recruitment in the construction or engineering industry saw a growth of 11 per cent, while the FMCG industry was up by 5
LiuGong India aims to double sales to USD 160 million in two years
Guangxi LiuGong, a leading global manufacturer of wheel loaders, is aiming to double the turnover of its Indian unit to USD 160 million (about Rs 1,150 crore) in the next two years, driven by the country's infrastructure development, a top company official said. LiuGong India, a 100 per cent subsidiary of Guangxi LiuGong, is also expanding its offerings in the excavators and wheel loaders space, targeting the road and mining industries. "We are aiming to double our business in India in every two years," LiuGong India Managing Director Wu Song told PTI. LiuGong India's current turnover is USD 80 million (around Rs 575 crore), he added. The company also has plans to strengthen its dealers network and supply chain. Besides, LiuGong is looking at exporting from its Indian unit to the Middle East and African countries. "We would grow step by step. Presently, we are exporting to some South Asian markets from here," said Guangxi Liugong Group Chairman Zeng Guang'an. The company, which has a .
74% polling in nine phases of J-K Panchayat polls, 38.8% in final phase
Jammu and Kashmir recorded an overall polling of 74 per cent in the nine phases of Panchayat elections, with the last phase on Tuesday witnessing 38.8 per cent voting, election officials said. In the nine phases, Jammu recorded 83.5 per cent voter turn out, Ladakh 67.8 per cent and Kashmir 41.3 per cent, they said. The polls passed off peacefully amid tight security with no untoward incident despite a boycott call given by separatists and the lurking threat of violence by terrorists, they said. Voting for the final phase was held Tuesday at 452 polling stations spread across seven districts of Kashmir division and it ended peacefully at 2 pm, the officials said. North Kashmir's Kupwara district registered the highest polling at 53.6 per cent and the lowest was in South Kashmir's Pulwama district at 1.4 per cent. Bandipora recorded 46 per cent polling, Baramulla 38.9 per cent, Budgam 38.8 per cent, Anantnag 24.8 per cent and Ganderbal witnessed 20.9 per cent voting, the officials ...
REC takeover to up PFC's leverage by Rs 15,000 cr: Ind-Ra
The proposed takeover of the government's 52.63 per cent stake in Rural Electrification Corporation (REC) by Power Finance Corporation (PFC) is likely to stretch latter's balance sheet and increase its leverage by up to Rs 15,000 crore, India Ratings said Tuesday. The acquisition will impact PFC's return on assets and return on equity, the rating agency said, adding, however, the positive liquidity buckets of PFC over October 2018-March 2019 will address the liquidity concerns. The Cabinet Committee on Economic Affairs on December 6 gave its in-principle approval for the strategic sale, post which REC is likely to continue to be a separate entity. While the contours of the acquisition deal are being finalised by a group of ministers and secretaries, the agency said the leverage of PFC is likely to go up by Rs 14,000-15,000 crore to buy out the government's stake in REC. "The acquired entity may breach the group/single borrowing limit with banks and may require ...
Wall Street opens sharply higher on trade optimism
(Reuters) - U.S. stocks jumped at the open on Tuesday in broad-based gains led by industrial and technology stocks amid signs of progress in trade talks between the United States and China.
Enbridge says working on easing pipeline capacity shortages
(Reuters) - Canada's largest pipeline operator Enbridge Inc said on Tuesday it was working on alternatives to ease the ongoing pipeline capacity shortage in the country and is in talks with shippers for a new agreement for its Mainline system.