Page 1748 - Business Finance

UAE's Finablr hires banks for IPO, listing in London: sources

ABU DHABI/LONDON (Reuters) - United Arab Emirates-based payments and foreign exchange company Finablr has hired JP Morgan and Barclays as global coordinators for its listing in the first half of 2019 on the London Stock Exchange, three sources told Reuters.

JSW to ensure total quality at all steel plants

JSW Steel would have total quality management (TQM) in all its three plants, including at Dolvi Works in Maharashtra and Salem Works in Tamil Nadu by 2020, said a senior official on Thursday.

UK fails to secure improvements to future EU financial services access

LONDON (Reuters) - Britain has failed to secure improvements to its proposed future trading relations in financial services with the European Union after Brexit, according to a draft document, disappointing some executives who expected concessions.

No need for extraordinary measures to defend Italians' savings - Tria

ROME (Reuters) - Economy Minister Giovanni Tria said on Thursday there was no need for "extraordinary" measures to defend the savings of Italians and said bank deposits had risen in both September and October.

Russia hopes for IPO renaissance after worst year in a decade

MOSCOW/LONDON (Reuters) - Russian companies remain committed to planned stock market listings in 2019, sources and bankers say, despite the country's worst year for equity sales in a decade.

Nissan ends Ghosn's two-decade reign with last-minute Renault backing

YOKOHAMA, Japan/PARIS (Reuters) - Nissan's board voted unanimously to oust Chairman Carlos Ghosn over allegations of financial misconduct, after French partner Renault backed away from a last-minute demand to postpone the decision on their alliance leader's fate.

Newcomer wins major Gazprom pipe contract, to market's surprise

MOSCOW (Reuters) - Russia's ZTZ said on Thursday it had won a contract to sell half a million tonnes of pipes to gas giant Gazprom next year for the construction of part of the Power of Siberia pipeline.

Explainer: The Ghosn affair and Renault-Nissan's uneasy relationship

PARIS (Reuters) - Nissan's board ousted Chairman Carlos Ghosn on Thursday following the auto industry star's arrest in Japan over financial misconduct allegations, ushering in a period of uncertainty for its 19-year alliance with Renault.

Chinese online shopping sites ditch Dolce & Gabbana in ad backlash

BEIJING (Reuters) - Chinese e-commerce sites have removed Dolce & Gabbana products amid a spiralling backlash against an advertising campaign that was decried as racist by celebrities and on social media.

Lufthansa dismisses report that CFO wants to step down

BERLIN (Reuters) - German airline Lufthansa rejected a report on Thursday that Chief Financial Officer Ulrik Svensson wants to step down, saying that they want to extend his contract.

Stocks slip in Europe, Asia as US closed for holiday

Global stock markets mostly fell Thursday as concerns about economic growth continued to weigh on sentiment and trading was thinned by the U.S. Thanksgiving holiday. In Europe, Germany's DAX index dropped 0.9 per cent to close at 11,138.49 and the CAC 40 in France shed 0.8 per cent to 4,938.14. Britain's FTSE 100 index lost 1.3 per cent to 6,960.32. US markets were closed for the holiday on Thursday and will be open for only a half-day on Friday. Japan's benchmark Nikkei 225 closed 0.7 per cent higher at 21,646.55 and the Hang Seng in Hong Kong added 0.2 per cent to 26,019.41. South Korea's Kospi dropped 0.3 per cent to 2,069.95. The Shanghai Composite shed 0.2 per cent to 2,645.43. Australia's S&P/ASX 200 gained 0.9 per cent to 5,691.30. Shares fell in Taiwan and Thailand but rose in Singapore. The pound rose sharply after Britain and the European Union reached a deal in principle on future relations. The deal is due to be approved by EU leaders on Sunday but still faces ...

Global Markets: Failed tech reboot hits stocks, pound cheers Brexit progress

LONDON (Reuters) - Europe's share markets fell back into the red on Thursday, as investor worries about slowing global growth in the face of rising U.S. interest rates and trade tensions outweighed crucial Brexit progress.

India's October domestic air passenger traffic up 13%

India's domestic air passenger traffic grew by 13.34 per cent in October, official data showed on Thursday.

Delhi NCR tops festive shopping chart on Paytm Mall: Report

People from Delhi NCR shopped the most during Diwali sales on Paytm Mall, a joint report of UC Media Lab and Paytm Mall said. "Delhi NCR, Bangalore, Mumbai, Chennai, Ahmedabad and Hyderabad are the Top 6 cities that contributed biggest sales on Paytm Mall during the same time," the report said. While both Paytm and UC are subsidiaries of Chinese internet major Alibaba, they operate separately in India. "Citizens of Bangalore and Pune consumed the most articles on shopping deals and offer-related content on UC Browser during its Diwali and Double Eleven Shopping Fest," the report added. According to data from Paytm Mall, mobile phones, appliances, laptops, fashion, groceries, automobiles and gold were the top six categories with biggest sales during the period.

WTO says G20 trade restrictions soar, cover $481 bln of trade

GENEVA (Reuters) - Countries belonging to the G20 group of the world's biggest economies applied 40 new trade restrictive measures between mid-May and mid-October, covering around $481 billion of trade, the World Trade Organization said on Thursday.

Exclusive: Visa, Mastercard offer to cut tourist card fees in EU antitrust probe - sources

BRUSSELS (Reuters) - Visa Inc and Mastercard have offered to reduce the fees merchants pay when accepting card payments from tourists in an attempt to settle a long-running EU antitrust investigation and stave off possible hefty fines, people familiar with the matter said on Thursday.

Newsmaker: Nissan's Saikawa, a hard-nosed leader, takes centre stage after Ghosn's ouster

TOKYO (Reuters) - In sacking his long-time mentor Carlos Ghosn as chairman of Nissan Motor Co Ltd, CEO Hiroto Saikawa has only bolstered his reputation for being a tough leader unafraid to antagonise people in the interests of business.

HCL Tech, Bajaj Finance to replace Wipro, Adani Ports on Sensex

The S&P BSE Sensex will include HCL Technologies and Bajaj Finance in place of Wipro and Adani Ports from December 24.

400 districts to have city gas networks in 2-3 years: Modi

Around 400 districts in the country will be covered city gas distribution (CGD) networks in the next 2-3 years, taking India closer to realising a gas-based economy, Prime Minister Narendra Modi said on Thursday.

KPMG appoints CFO, two practice leaders

Consultancy firm KPMG Thursday announced the appointment of its new CFO and two practice leaders. Natarajan G will be the Chief Financial Officer and Head of Corporate Services, while Vinodkumar Ramachandran will leader of the automobile and industrial markets practice. Vish Padmanabhan will be leader, digital and technology implementation, it said in a statement. Natarajan G, an IIM-Ahmedabad alumnus, had earlier worked in Unilever.