Page 1772 - Business Finance
Ghosn custody extended as crisis deepens at Nissan
Japanese authorities Wednesday extended Nissan Chairman Carlos Ghosn's detention by 10 days, as it emerged the car giant itself could face charges over the alleged financial misconduct that laid low its once-loved leader. Monday's stunning arrest of the millionaire auto tycoon, who is credited with turning around the Nissan-Renault-Mitsubishi Motors alliance, sent shockwaves through the global car sector, corporate Japan and beyond. On Wednesday, several media reported that the Tokyo district court had ordered the 64-year-old Brazil-born businessman held for a further 10 days as prosecutors step up their investigation over the alleged under-reporting of Ghosn's package by about five billion yen (USD 44.5 million). Prosecutors had 48 hours after his arrest to either press formal charges, release him or request this 10-day custody extension to continue the probe. The titan of the car industry is being held in a detention centre in northern Tokyo in conditions far removed from his flashy
TalkTalk sets out new fibre plan after first-half earnings rise
LONDON (Reuters) - British broadband company TalkTalk added 24,000 customers in its second quarter, taking its customer base to 4.2 million and helping first-half core earnings rise to 101 million pounds ($129 million) from 75 million pounds a year ago.
UK's home improvement group Kingfisher to exit Russia, Spain and Portugal
LONDON (Reuters) - Kingfisher, Europe's second largest home improvement retailer, said on Wednesday it would exit Russia, Spain and Portugal so it can focus on markets where it has, or can reach, a market leading position.
Oil claws back some losses after 6-percent plunge, but outlook still weak
SINGAPORE (Reuters) - Oil bounced by more than 1 percent on Wednesday to claw back some of the previous day's 6-percent plunge, lifted by a report of an unexpected decline in U.S. commercial crude inventories and record Indian crude imports.
Zee Media Corporation Ltd down for fifth straight session
The stock is quoting at Rs 24.4, down 2.2% on the day as on 13:19 IST on the NSE. Zee Media Corporation Ltd tumbled 15.66% in last one year as compared to a 2.34% rally in NIFTY and a 25.1% fall in the Nifty Media index.
Oil & Natural Gas Corpn Ltd drops for fifth straight session
The stock is quoting at Rs 152.9, down 0.13% on the day as on 13:19 IST on the NSE. Oil & Natural Gas Corpn Ltd tumbled 15.66% in last one year as compared to a 2.34% rally in NIFTY and a 0.63% fall in the Nifty Energy index.
Airbus names new finance and operations chiefs as overhaul continues
PARIS (Reuters) - Airbus on Wednesday set in place the financial and operational pillars of a soon-to-be completely overhauled leadership as it emerges from months of internal strife caused by legal problems and delays in meeting record output goals.
Negative market breadth
Key benchmarks continued trading with modest losses in afternoon trade, dragged by weakness in IT shares. At 13:20 IST, the barometer index, the S&P BSE Sensex, was down 306.63 points or 0.86% at 35,167.88. The Nifty 50 index was down 71.05 points or 0.67% at 10,585.15. Subdued Asian indices weighed adversely on the domestic bourses.
Power Finance Corporation Ltd soars 2.04%, Gains for third straight session
The stock is quoting at Rs 104.8, up 2.04% on the day as on 12:49 IST on the NSE. Power Finance Corporation Ltd is down 18.09% in last one year as compared to a 2.39% gain in NIFTY and a 5.22% gain in the Nifty Financial Services index.
Reliance Infrastructure Ltd up for third consecutive session
The stock is quoting at Rs 362.3, up 1.66% on the day as on 12:49 IST on the NSE. Reliance Infrastructure Ltd is down 19.38% in last one year as compared to a 2.39% jump in NIFTY and a 0.36% jump in the Nifty Energy index.
Thyssenkrupp forecasts profit rise as it seeks to win back trust
ESSEN, Germany (Reuters) - Thyssenkrupp gave a bullish outlook for 2019 on Wednesday, forecasting a recovery at almost all its divisions, as new CEO Guido Kerkhoff attempts to restore investors' trust in the German industrial conglomerate.
Crunch time for Tencent Music's 2018 $2 billion IPO hopes
HONG KONG (Reuters) - Tencent Music Entertainment (TME) - China's answer to Spotify - is facing crunch time on its hotly anticipated U.S. $2 billion mega IPO this year.
Metal and mining stocks decline
Stocks cut losses in early afternoon trade after a steep intraday slide. At 12:28 IST, the barometer index, the S&P BSE Sensex, was down 236.90 points or 0.67% at 35,237.61. The Nifty 50 index was down 52.20 points or 0.49% at 10,604. Shares of index heavyweight Infosys dropped. Metal and mining stocks declined. Aviation stocks gained following steep fall in crude oil prices. Subdued Asian indices weighed adversely on the domestic bourses.
Foreigners turned net buyers of Asian bonds in October
(Reuters) - Foreign flows into Asian bonds turned positive in October, in stark contrast to the sharp outflows faced by equity markets due to slowing earnings and concerns over trade.
EU should copy U.S. laws to prevent money laundering scandals - whistleblower's lawyer
COPENHAGEN (Reuters) - The European Union should harmonise whistleblower protection with the United States to avoid major money laundering scandals like the one in which Danske Bank is embroiled, the lawyer for the main whistleblower in the case said on Wednesday.
Spot demand lifts zinc futures by 0.16%
Zinc prices rose by 0.16 per cent to Rs 186.20 per kg in futures trade Wednesday, tracking a firm trend at the physical markets on the back of pick-up in demand. At the Multi Commodity Exchange, zinc for November was trading higher by 60 paise, or 0.16 per cent, to Rs 186.20 per kg with a business turnover of 306 lots. Marketmen said widening of positions by participants following pick-up in demand from consuming industries, kept zinc prices higher.
Adani Gas Ltd leads gainers in 'B' group
Kesoram Industries Ltd, Manaksia Steels Ltd, Winsome Textile Industries Ltd and 63 Moons Technologies Ltd are among the other gainers in the BSE's 'B' group today, 21 November 2018.
Infosys to create 1,200 jobs in Australia by 2020
Software major Infosys on Wednesday said it would create 1,200 jobs and open three innovation hubs in Australia by 2020 to reduce digital skills gap.
Jindal varsity opens centre for corporate responsibility, sustainability
O.P. Jindal Global University (JGU) on Wednesday said it has opened a research centre dedicated to corporate responsibility and sustainability.
Mentha oil futures plunge 3% as speculators cut position
Mentha oil prices dropped by 3 per cent to Rs 1,606.10 per kg in futures trade Wednesday as participants indulged in trimming their bets amid falling demand from consuming industries at the spot markets. Mentha oil, to be delivered this month was trading sharply lower by Rs 49.60, or 3 per cent, at Rs 1,606.10 per kg at the Multi Commodity Exchange. It clocked a business volume of 130 lots. The fall in mentha oil prices was mostly attributed to cutting down of bets by speculators, triggered by a weak demand from consuming industries at the physical markets, marketmen said.