Page 1634 - Business Finance
Global stocks battered by Wall Street, fears of U.S. slowdown
NEW YORK (Reuters) - Global stocks fell on Wednesday, plagued by a flattening yield curve that sparked concerns about a economic slowdown in the United States and weakening expectations of a lasting U.S.-China trade truce, while the dollar steadied.
Volkswagen brand seeks €6 billion cost, efficiency gains by 2023: Handelsblatt
FRANKFURT (Reuters) - Volkswagen's core brand will seek cost and efficiency gains of almost 6 billion euros ($6.8 bln) in an effort to raise the VW brand's operating margin to 6 percent by 2023, German daily Handelsblatt said, citing company sources.
Goldman Sachs likely to boost legal reserves for 1MDB: analysts
NEW YORK (Reuters) - Goldman Sachs Group Inc may need to boost its legal reserves by as much as $1 billion to prepare for potential penalties related to its dealings with the Malaysian sovereign wealth fund 1MDB, analysts said.
Shale's growing profits at the mercy of OPEC cuts, Trump tweets
HOUSTON (Reuters) - The recent nosedive in crude prices came just as shale producers had started delivering healthy returns after years of heavy spending to boost production and market share.
Oil edges higher before OPEC meeting
NEW YORK (Reuters) - Oil prices inched higher on Wednesday ahead of a meeting of the world's biggest exporters who will discuss cutting output to help shore up prices and curb excess supply.
RBI to implement an Ombudsman scheme for digital transactions
The Reserve Bank of India (RBI) on Wednesday said that it will implement an 'Ombudsman Scheme for Digital Transactions covering services provided by entities falling under Reserve Banks regulatory jurisdiction.
Illicit financial flows discussed at WCO
The Ministry of Finance on Wednesday said that the menace of illicit financial flows, including trade-based money laundering and ways to control them were the issues discussed during the 80th Session of World Customs Organisation (WCO).
RBI keeps rates on hold, moves to spur lending
MUMBAI (Reuters) - The Reserve Bank of India (RBI) kept interest rates unchanged on Wednesday, in a decision that was widely expected as inflation has eased significantly, while it took steps to persuade banks to lend more in order to support an economy that has lost some momentum.
Analysis: 'Brexit premium' drives up euro borrowing costs for UK firms as EU exit looms
LONDON (Reuters) - British companies are being forced to pay more to borrow on international bond markets than their European peers as investors demand a hefty premium to compensate for a future hit to business and the UK economy from Brexit.
Industry disappointed as RBI keeps repo rate, stance unchanged (Roundup)
Upside risks to inflation led the RBI on Wednesday to keep its repo, or short-term lending rate for commercial banks, unchanged at 6.5 per cent for the second time in succession, even as India Inc. expressed disappointment over the decision.
Oil rises more than 1 percent before OPEC meeting
NEW YORK (Reuters) - Oil prices rose more than 1 percent on Wednesday ahead of a meeting of the world's biggest exporters who will discuss cutting output to help shore up prices and curb excess supply.
Exclusive: Venezuela's refinery woes send fuel imports soaring: internal documents
(Reuters) - Venezuela this month plans to import over 300,000 barrels per day (bpd) of refined products to ease domestic fuel shortages caused by hobbled refineries and need to prioritize exports, according to internal documents seen by Reuters.
Palladium outshines gold for first time in 16 years
BENGALURU (Reuters) - Palladium is more valuable than gold for the first time since 2002, with prices soaring by around 50 percent in less than four months to record levels -- just as gold failed to capitalise on some seemingly bullish scenarios.
Venezuela's refinery woes send fuel imports soaring: internal documents
(Reuters) - Venezuela this month plans to import over 300,000 barrels per day (bpd) of refined products to ease domestic fuel shortages caused by hobbled refineries and need to prioritize exports, according to internal documents seen by Reuters.
LED expo from Thursday; all Noida streetlights to become LED
A three-day global "LED Expo 2018" gets underway on Thursday at Greater Noida, organisers Messe Frankfurt said on Wednesday.
Urjit Patel avoids questions about RBI-Centre rift
Reserve Bank of India (RBI) Governor Urjit Patel on Wednesday refused to take any questions about the central bank's alleged rift with the Union government, including the invocation of Section 7 of the RBI Act earlier this year."I would avoid those questions because we are here discussing the monetary policy resolution," Patel said when asked about Section 7 of the RBI Act during a media conference after the bank's bi-monthly meeting of the Monetary Policy Committee (MPC) here.When asked about his views on Deputy Governor Viral Acharya's public posturing on the RBI autonomy, Patel said, "Is this related to the MPC resolution? I don't think so. We are here to discuss the MPC resolution and the macro-economy."According to Section 7(1) in The Reserve Bank of India Act, 1934, "The Central Government may, from time to time, give such directions to the RBI as it may after consultation with the Governor of the Bank consider necessary in the public interest."In view of the current and ...
Barclays to keep Swiss private banking growth momentum in 2019
ZURICH (Reuters) - Britain's Barclays expects to have grown its Swiss private banking business by more than 10 percent this year and is looking to expand further in Switzerland in 2019.
Maruti Suzuki India to raise prices in January
Automobile major Maruti Suzuki India on Wednesday said it would raise prices of various models in January 2019 due to high commodity prices and foreign exchanges rates.
Novartis India MD Milan Paleja to step down on May 31
Pharmaceutical major Novartis India on Wednesday said its Vice Chairman and Managing Director Milan Paleja will step down from the post on May 31, 2019.
REC Q2 net profit jumps 25 pc to Rs 1,764 cr
State-owned REC posted a 25 per cent jump in standalone net profit at Rs 1,764.33 crore for the September quarter, mainly due to higher revenues. The company's standalone net profit stood at Rs 1,407.76 crore in the quarter ended September 30, 2017, it said in a statement. This has been the highest ever quarterly profit declared by the company, it added. Total income of the company grew by 30 per cent to Rs 7,299 crore in the second quarter from Rs 5,604 crore a year ago. The company sanctioned loans of Rs 49,003 crore in the second quarter, which were 120 per cent higher than Rs 22,300 crore in the year ago period. It disbursed loans of Rs 24,226 crore, which were 76 per cent more than Rs 13,751 crore earlier. The loan book of the company has seen a growth of 19 per cent, as it grew from Rs 2.16 lakh crore as at September 30, 2017 to Rs 2.57 lakh crore as at September 30, 2018. The net worth of the company stands at Rs 32,755 crore as at September 30, 2018 and the capital adequacy is