Page 1599 - Business Finance

Market may witness steep selling pressure

Domestic shares may decline sharply, extending previous session's losses, after the Reserve Bank of India Governor, Urjit R. Patel, resigned from his post last evening citing personal reasons.

Titagarh Wagons may gain after large order win

Titagarh Wagons was awarded a contract for manufacture and supply of 5058 wagons to Indian Railways, the bidding for which was conducted under the reverse auction method. These wagons are BOXN HL type, designed to carry coal, steel, stones etc. and the value of order is Rs 1560.87 crore. As per the contract, one third quantity (1686 Wagons) is to be supplied within six months and to complete the supply of full quantity of wagons before 28 February 2020. The announcement was made after market hours yesterday, 10 December 2018.

Pound near 20-month low on Brexit setback, dollar steadies after surge

TOKYO (Reuters) - The pound languished near 20-month lows against the dollar on Tuesday after British Prime Minister Theresa May postponed a crucial vote on her Brexit deal, rasing the risk of a chaotic exit from the European Union.

Court orders China sales ban on older Apple iPhones in Qualcomm case

SAN FRANCISCO (Reuters) - A Chinese court has ordered a ban on the sale of several older Apple Inc iPhone models in China for violating two patents of chipmaker Qualcomm Inc, although Apple said all of its phone models remained on sale in the mainland.

Global Markets: Asia shares near 3-week lows, sterling struggles on Brexit woes

SYDNEY (Reuters) - Chinese shares pulled ahead on Tuesday after Beijing confirmed it was still in trade talks with the United States, though sentiment remained fragile in Asia as the pound wallowed near 20-month lows on deepening political turmoil over a Brexit deal.

'Fearless Girl' statue relocated to NY Stock Exchange

The popular bronze statue of the "Fearless Girl" that had been facing Wall Street's iconic "Charging Bull" for the past 18 months, was moved to its new and permanent location in front of the New York Stock Exchange.

Art and cash-filled Rio apartment the new battleground for Nissan, Ghosn: court filing

SAO PAULO/TOKYO (Reuters) - A Rio de Janeiro apartment containing cash, art works and personal belongings of Carlos Ghosn has emerged as the latest battleground between the indicted former Nissan Motor Co Ltd chairman and the automaker.

Gold prices hold steady as stronger dollar weighs

BENGALURU (Reuters) - Gold prices held steady early on Tuesday, supported by hopes that the U.S. Federal Reserve could pause its rate hike cycle sooner than previously thought, but a stronger dollar amid Brexit worries weighed on the precious metal.

PNG connection reached 4 lakh households in Mumbai in last 4.5 years: Pradhan

Union Minister of Petroleum and Natural Gas Dharmendra Pradhan said that in last 19 years since 1995-2014, Piped Natural Gas (PNG) connection had reached to only six lakh households in Mumbai whereas, in last 4.5 years of the ruling government it has reached to over four lakh households.Speaking after the inauguration of PNG connection in Kurar village in Mumbai, he said, "PNG is cheap, efficient, reliable and environment friendly and in the next couple of years, more than 10 lakh households will benefit from PNG in the financial capital of India-Mumbai."Pradhan further noted that Prime Minister Narendra Modi resolve to provide clean and affordable cooking fuel to the poorest of the poor has provided a huge impetus to transform India into a gas-based economy and has also witnessed rapid expansion of city gas distribution projects across India."Prime Minister Narendra Modi firmly believes that no household in the country should be deprived of the benefits of clean cooking fuel and ...

Huawei says believes Canadian, U.S. legal systems will deliver fair conclusion

BEIJING (Reuters) - Huawei believes the Canadian and U.S. legal systems will deliver a fair conclusion, the company said in a statement carried by Chinese state media on Tuesday, after a Canadian court adjourned without deciding the fate of its chief financial officer.

Global Markets: Sterling sinks on Brexit vote delay, Asian shares dither

SYDNEY (Reuters) - The pound hovered near 20-month lows on Tuesday, as political turmoil deepened in Britain with a key vote on Brexit being delayed while U.S. shares staged a late rebound in a positive signal for Asian markets.

Oil prices on shaky ground amid global financial market worries

SINGAPORE (Reuters) - Oil prices remained on shaky ground on Tuesday after sliding by 3 percent the previous day, pressured by weakness in global stock markets and doubts that planned supply cuts led by producer club OPEC will be enough to rein in oversupply.

Chinese province pledges billions to drive tech, innovation

SHANGHAI (Reuters) - China's coastal province of Zhejiang, home to e-commerce giant Alibaba , has pledged more than $17 billion to drive the tech industry and innovation in the coming five years, the state news agency Xinhua reported.

Yelp's big shareholder calls for board overhaul

(Reuters) - Hedge fund SQN Investors LP, one of Yelp Inc's top five shareholders, on Monday called for an overhaul of the local search and customer review company's board and the appointment of new independent directors, blaming it for underperformance.

Almost half of S&P 500 stocks in a bear market

SAN FRANCISCO (Reuters) - The S&P 500 is not yet in a bear market, but nearly half of its components are.

Markets likely to be rocked as RBI chief Urjit Patel quits

NEW DELHI (Reuters) - Indian stock, bond and foreign exchange markets are all likely to open lower on Tuesday after the shock resignation of the head of the Reserve Bank of India (RBI).

Explainer: Manoeuvres leading up to departure of Urjit Patel

NEW DELHI (Reuters) - A protracted tiff between the Indian government and the Reserve Bank of India (RBI) climaxed on Monday when central bank governor Urjit Patel resigned, days before a board meeting where he would have faced intense pressure.

Wall Street ends choppy day higher; tech helps, Brexit weighs

(Reuters) - Wall Street ended Monday's volatile session slightly higher with help from technology stocks although bank stocks tumbled and uncertainty over Britain's exit from the European Union kept investors on edge about global growth.

Global stock decline on growth, Brexit worries; Wall Street gains

NEW YORK (Reuters) - A gauge of global equities stumbled on Monday, as losses in Europe and Asia extended to Wall Street on new signs world economic growth was being curbed by the U.S.-China trade spat, but was off early lows as U.S. stocks turned positive.

Oil falls nearly 2 percent on stocks sell-off, pares OPEC deal gains

NEW YORK (Reuters) - Oil fell nearly 2 percent on Monday, echoing the weakness in global stock markets as the focus returned to demand growth concerns and crude prices erased some of the gains made last week on an OPEC-led decision to cut output.