Page 1737 - Business Finance
Deals lure U.S. Black Friday shoppers, biggest sales gains online
NEW YORK/PITTSBURGH (Reuters) - U.S. shoppers formed long lines at store checkout counters on Black Friday to snap up deep discounts on clothing and electronics, offering evidence that a healthy economy and rising wages are translating into stronger consumer spending at the start of retailers' make-or-break holiday season.
Falling oil prices sink world stocks; supply, growth concerns mount
NEW YORK (Reuters) - Oil prices plunged on Friday on concerns about oversupply, sending world stock markets lower as lagging energy shares weighed down Wall Street.
Black Friday U.S. shoppers brave cold, long lines in hunt for deals
NEW YORK/PITTSBURGH (Reuters) - U.S. shoppers formed long lines at store checkout counters on Black Friday to snap up deep discounts on clothing and electronics, offering evidence that a healthy economy and rising wages are translating into stronger consumer spending at the start of retailers' make-or-break holiday season.
Wall Street pulled lower by oil slump
(Reuters) - U.S. stocks fell on Friday as oil prices plunged to their lowest in more than a year, dragging down energy shares, while U.S.-China trade talks at the G20 summit next week kept investors on edge in a truncated trading session.
Oil plunges more than 6 percent despite potential OPEC cut
BOSTON (Reuters) - Oil prices slumped more than 6 percent on Friday, with Brent set for a 12-percent plunge this week, as fears that supply would overpower demand intensified, even as major producers considered cutting output.
Fuel prices continue to decline; petrol down 40 paise
Fuel prices continued the downward trend on Friday with cost of petrol falling by 40 paise across the four metro cities.
UK court asks Vijay Mallya to pay £88,000 to Swiss bank
Fugitive Indian businessman Vijay Mallya on Thursday faced a major setback in his battle to save his luxurious London house from foreclosure by Swiss bank UBS after the United Kingdom (UK) High Court rejected scores of the arguments presented by his legal team during the trial of the matter.The judicature has issued an order asking Mallya to pay a hefty amount of £88,000 to UBS Investment Bank, which had issued £20.4 million in the mortgage loan for his London property.The property was referred to in the UK High Court as a "high-class home for Dr Vijay Mallya and his family members and United Breweries Group corporate guests".The former liquor baron, who is on bail on an extradition warrant after his arrest in April 2017 is also facing trouble from New Delhi, after the Indian government led by Prime Minister Narendra Modi made an attempt to get him extradited from the UK on charges of money laundering to the tune fo Rs 90 billion.Mallya is residing in the UK from the past two years. .
UK court asks Vijay Mallya to pay £88,000 to Swiss bank
Mallya is residing in the UK from the past two years
Quadricycles get go-ahead for private use
Creating a new segment of affordable four-wheelers, the government on Friday decided to allow quadricycles -- four-wheelers with less power and lower maximum speed than conventional small cars -- as non-transport vehicles, paving the way for their private use.
Yamuna Expressway Industrial Authority allots land to Vivo for Rs 3,500cr unit
Smartphone maker Vivo India has been allotted a 169-acre land parcel by the Yamuna Expressway Industrial Authority (YEIDA) to set up a unit in Gautam Buddh Nagar with an estimated investment of Rs 3,500 crore, an official said. Vivo, headquartered in southern China's Dongguan city, already operates from a 50-acre rented set up in Greater Noida where it manufactures 24 lakh mobile phones annually, the Chief Executive Officer of YEIDA, Arunvir Singh, said. The company had applied for land to expand its base with a plan to take its production capacity further up. They have been allotted 169 acre of land. It would invest Rs 3,500 crore in the first phase of expansion, creating 25,000 jobs within one year. 30 per cent of the jobs would be compulsorily given to locals but the skilled and qualified locals would get opportunities beyond that also, Singh told PTI. He said the company would require another 200 acre of land during the second phase of expansion during which it would again pump in
A few states move towards model agricultural land leasing Act: Official
A few states are moving towards the model Agricultural Land Leasing Act which was prepared and circulated to the states, aiming at ensuring better utilisation of asset along with improved credit flow to farmers, an official said on Friday.
China: WTO changes must support developing countries
China will go along with changes meant to update global trade rules so long as they protect Beijing's status as a developing country, a Cabinet official said Friday. The deputy commerce minister, Wang Shouwen, said any changes also must address protectionism and abuse of export controls and security reviews a reference to Beijing's trade clash with U.S. President Donald Trump. China agreed in June to work with the European Union to propose changes to the World Trade Organization to address technology policy, subsidies and state industry all areas in which Beijing faces complaints. U.S. officials complain the global trade referee is too bureaucratic and slow to adapt to changing business conditions. Wang said each country's "development model" must be respected a reference to China's state-dominated economy, which has provoked repeated complaints Beijing is violating its market-opening obligations. Beijing has accused Trump of wrecking the global trading system by going outside the .
Discontent with Danske Bank high, but poll shows sentiment improving
COPENHAGEN (Reuters) - Discontent among Danske Bank customers remains high, although sentiment improved slightly in the last month as the Danish bank moved to address a 200 billion euro ($227 billion) money laundering scandal, figures from Voxmeter show.
Online festive sale in India flares up on 'Black Friday'
The American shopping festival of Black Friday suddenly gained a buzz in India, thanks to e-commerce portals offering sales on the occasion, and market participants feel the demand for products online has been positive so far in the day.
Poll panel should take cognisance of BJP's huge spending on adverts: Cong
The Congress Friday demanded the Election Commission (EC) take immediate cognisance of the BJP's huge spending on advertisements, saying the saffron party had become a top advertiser on TV in the months leading up to polls in five states. The party also said the EC also must see the impact of the BJP's spending on the electoral process. Polls in Madhya Pradesh and Mizoram are scheduled to be held on November 28, and in Telangana and Rajasthan on December 7. Elections in Chhattisgarh were held in two phases on November 12 and 20. Quoting Broadcast Audience Research Council of India (BARC) data for the week ending November 16, Congress spokesperson Manish Tewari claimed that the BJP was the biggest advertiser in the country. "The BJP is the biggest advertiser in India, beating even Vimal Pan Masala. It is not that this is an aberration for the week ending November 9, BJP was at number two. "So, for quite a while the BJP has been a very-very large spender in the media space," he said ...
Rs 16 cr pending revenue recovered from builder in Gautam Buddh Nagar
The Gautam Buddh Nagar administration has recovered nearly Rs 16 crore pending revenue from a defaulter builders firm, officials said Friday. A recovery certificate was issued against the SDS Infracon Private Limited over pending revenue of Rs 40 crore by the Yamuna Expressway Authority, the officials said. "The director of the company handed over a cheque of Rs 15.63 lakh to Additional District Officer of Finance and Revenue Keshav Kumar last night," Sub-Divisional Magistrate Rajpal Singh said. He said the matter had moved the Allahabad High Court, which ordered the defaulting firm to clear the dues by November 28. "The company is yet to clear the remaining amount, failing which legal action, including arresting of defaulters, attachment and auctioning of properties could be done," he said. SDS Infracon Pvt Ltd was earlier also accused of not opening an escrow account from the investors' money for a housing project and instead diverting the funds into other projects. It had allegedly
S&P revises credit outlook on GMR Hyderabad International Airport Ltd
S&P Global Ratings has revised downwards the credit outlook on GMR Hyderabad International Airport Ltd (GHIAL) to 'stable' from 'positive', citing that higher spending and lower tariffs could push debt levels higher. However, the agency has affirmed the 'BB+' long-term credit rating on the airport operator as well as its outstanding senior secured notes. Generally, 'BB+' indicates relatively less vulnerability of defaults. "The outlook revision reflects our view that GHIAL's expanded capital expenditure (capex) plans will result in higher leverage than we expected over the next two to three years," S&P Ratings said in a release Thursday. It noted that regulatory uncertainties would remain elevated for the airport operator, given continuing tariff reset delays and timing uncertainty of capex recovery. GHIAL operates the Hyderabad international airport. "The stable outlook reflects our view that GHIAL will manage the execution risks on its enlarged capital spending plans and ...
Oil slide pulls Wall Street lower
(Reuters) - U.S. stocks fell on Friday as oil prices slipped to their lowest in more than a year, dragging down energy shares, while investors were nervous ahead of U.S.-China trade talks at the G20 summit next week.
Govt transfers over Rs 1,600 crore to 48.5 lakh mothers under PMMVY
The government has transferred over Rs 1,600 crore to eligible mothers under Pradhan Mantri Matru Vandana Yojana through direct benefit transfer till Friday, Centre for Digital Financial Inclusion (CDFI) that uses technology for financial inclusion said. "Rs 16,04,66,63,000 transferred through direct benefit transfer to 48.5 lakh women," CDFI said. The non-profit organisation CDFI conceptualised, designed and implemented the PMMVY-CAS (Common Application Software) System through which disbursements were made. The programme, which became applicable from January 1, 2017 provides a cash incentive of Rs 5,000 in three instalments to pregnant women and lactating mothers for the first child through Direct Benefits Transfer (DBT).
RIL arm sets up Jio Estonia for software development
Reliance Industries Limited (RIL) Friday announced incorporation of Jio Estonia that plans to engage in software development in Europe. "Reliance Industrial Investments and Holdings Limited (RIIHL), a wholly owned subsidiary of the company has incorporated a company viz., Jio Estonia OU in Estonia, on November 22, 2018. Entire paid up capital of Jio Estonia OU is held by RIIHL," RIL said in a BSE filing. "Jio Estonia OU proposes to engage in the activity of software development and providing consultancy for existing and future technology initiatives pursued by the company and its subsidiaries," it added. Mukesh Ambani, the richest Indian who runs the most profitable domestic company Reliance Industries, took an e-residency of the European nation in May this year. Apart from forming a company, an e-resident can access banking services, payment processing and also gets a digital signature. There were just about 2,000 Indians till last month who have opted to become e-residents of ...