Page 1711 - Business Finance

Modi set to leave for G20 summit, to meet Chinese President

Prime Minister Narendra Modi will leave for Argentina on Wednesday to take part in the 13th G20 meeting in Buenos Aires during which he will have several bilateral meetings, including with Chinese President Xi Jinping.

Analysis: Telco mergers still a long-distance call in Europe

BRUSSELS (Reuters) - Telecoms companies and investors hoping that unconditional EU approval of Deutsche Telekom's Dutch deal could signal a softer regulatory stance towards mergers in the sector would do well to be cautious.

Oil prices fall more than one percent ahead of G20, OPEC meeting

NEW YORK (Reuters) - Oil prices fell more than 1 percent on Tuesday, in conjunction with sagging stock markets after U.S. President Donald Trump threatened more tariffs on Chinese imports ahead of the coming G20 summit.

Fed urged to get more serious about U.S. corporate debt risks

NEW YORK/ST. LOUIS (Reuters) - Bankers, executives and investors are warning Federal Reserve officials behind closed doors that record leveraged lending to companies from lightly-regulated corners of Wall Street could make any economic downturn harder to manage.

Cough up Rs 1 lakh fine for littering Bengal's civic areas

People residing in West Bengal's civic body areas may be forced to cough up fines up to Rs 1 lakh for littering in public places, as per bills passed by the state legislature raising the penalty for violation of its provisions in regions government by the municipal corporations and municipalities.

Trump may impose tariffs on imported cars from next week - report

BERLIN (Reuters) - European auto stocks extended losses on Tuesday after a German magazine reported that U.S. President Donald Trump could impose tariffs on imported cars from next week.

Moody's downgrades Yes Bank's ratings; cites governance issues

Credit ratings agency A Moody's Investors Service on Tuesday downgraded Yes Bank's foreign currency issuer rating to 'Ba1 from Baa3'.

Cryptocurrencies to survive sell-off - Allianz's El-Erian

NEW YORK (Reuters) - Cryptocurrencies are here to stay despite a prolonged slump this year, and will gain wider acceptance after the recent entry of more institutional investors in the space, Mohamed El-Erian, chief economic adviser at Allianz, said on Tuesday.

Opening on Thanksgiving hurts retailers more than it helps

NEW YORK (Reuters) - As store sales fall and purchases shift online over the Thanksgiving weekend, most U.S. retailers have boosted their web offerings but many still overlook the sales impact from opening their doors on Thursday evening.

Auto group says Tesla's China sales plunge; company's shares slide

BEIJING/SHANGHAI (Reuters) - Tesla Inc's vehicle sales in China sank 70 percent last month from a year ago, the country's passenger car association told Reuters on Tuesday, underscoring how the Sino-U.S. trade war is hurting the U.S. electric carmaker.

Wall Street flat as tech gains soothe tariff nerves

(Reuters) - U.S. stocks were flat on Tuesday as technology shares recovered from their session lows, helping calm nerves that were triggered by President Donald Trump's latest tariff threat.

NPCC now a 'mini-ratna'

The government on Tuesday conferred the National Projects Construction Corporation (NPCC) with the status of 'miniratna', empowering it to "taking speedy decisions".

Government's go-ahead for the RFP stage of PHL's divestment

The government has decided to go ahead with the RFP (request for proposal) stage for the divestment of chopper services company Pawan Hans Ltd (PHL).

Maruti Suzuki Swift achieves two million sales mark

Automobile manufacturer Maruti Suzuki India on Tuesday announced that its premium hatchback Swift has registered the two million sales landmark since its first launch in May 2005.

Centre clears decks for strategic sale of AI subsidiary

The Centre has cleared the decks for the strategic sale of Air India's ground handling subsidiary-Air India Air Transport Services Limited (AIATSL)-by deciding its 100 per cent disinvestment in ownership.Ministry of Civil Aviation (MoCA) has decided to proceed with the strategic sale of AIATSL after a ministerial panel meeting on Tuesday. The meeting was attended by Union Finance Minister Arun Jaitley and Civil Aviation Minister Suresh Prabhu among others.The proceeds from the sale of AIATSL would be used to pay off the debt of AI. Earlier the ministerial panel in June this year had decided to cut down debt and raise resources by selling land assets and other subsidiaries.AIATSL was incorporated in June 2003 with the objective of carrying out the business of providing all types of services at the airport. Industrial and business operations of AIATSL include rendering airport ground handling services such as those pertaining to passenger, ramp, security, and cargo for Air India.

Russia's Potanin to appeal UK court decision in battle of billionaires

MOSCOW (Reuters) - Russian businessman Vladimir Potanin plans to appeal a London court decision to block him from buying shares in mining company Norilsk Nickel from fellow investor Roman Abramovich, representatives at Potanin's investment firm said on Tuesday.

Government to sell Air India's ground handling arm

The Central government will divest 100 per cent stake in Air India's ground handling subsidiary to partially retire the national passenger carrier's accumulated debt.

Sebi fines brokerage firm, Anand Rathi for violating stock broker norms

Markets regulator Sebi Tuesday fined brokerage house Anand Rathi Rs 1 lakh for violating stock broker norms by transferring funds from the client's account to own account and vice versa on several occasions. In an order, the regulator said that Anand Rathi Shares and Stock Brokers has mixed-up client's funds with its own funds and vice versa and thereby acted in contravention of Sebi (Stock Brokers and Sub-Brokers) Regulations. The regulator had outlined strict segregation of client's funds, member account's funds and transfer of funds is permitted as an exception under specific instances. However, the scheme of arrangement regarding transfer of money made by the Anand Rathi is not in accordance with the permissible conditions under the stock brokers norms which makes it liable for monetary penalty, Sebi noted. Accordingly, the Securities and Exchange Board of India (Sebi) imposed a fine on the firm. In a separate order, Sebi has levied a total penalty of Rs 5 lakh on four persons for

Assembly passes bill empowering state govt to appoint HMC

The West Bengal Assembly Tuesday passed an amendment bill to empower the state government to appoint an administrator of the Howrah Municipal Corporation. The Assembly passed the Howrah Municipal Corporation (Second Amendment) Bill, 2018 which empowers the government to appoint an administrator in case of election of the HMC not held within the statutory time limit. The term of the present board of the Howrah Municipal Corporation will end next month. If for any reason, it is not possible to hold the general election of the Corporation before expiry of the period of five years, the Board of Councillors shall stand dissolved on the expiration of the said period. Speaking about the Bill, moved by him, state's Municipal Affairs and Urban Development Minister Firhad Hakim said that if an administrator has to be appointed, he would continue to this post for at least six months. The bill would facilitate to open bank account of Municipal fund into any scheduled bank within or ..

Oil prices steady near year lows ahead of G20, OPEC meeting

NEW YORK (Reuters) - Oil prices steadied on Tuesday, supported by expectations that crude exporters would agree to cut output at an OPEC meeting next week, but weighed down by signs of increased global production.