Page 1781 - Business Finance

Kohl's tops same-store sales estimates, raises forecast

(Reuters) - Department store operator Kohl's Corp raised its full-year profit forecast and posted better-than-expected quarterly same-store sales on Tuesday, as it moved trendier fashion to stores quicker and bolstered its online business.

Pakistan, IMF extend bailout talks - finance ministry

ISLAMABAD (Reuters) - Pakistan has extended bailout talks with the International Monetary Fund (IMF) and expected an agreement by mid-January, a finance ministry official said on Tuesday.

Lowe's to get rid of Mexico stores in further streamlining

(Reuters) - Lowe's Cos Inc said on Tuesday it was looking to shed its retail operations in Mexico and certain non-core U.S. businesses as the country's second-biggest home improvement chain strives to compete with rivals including Home Depot.

FedEx expands fleet to add 1,000 Chanje electric vans

(Reuters) - FedEx Corp said on Tuesday it plans to add 1,000 Chanje electric delivery vans to its fleet of vehicles in a bid to save on fuel and cut down on pollution.

Exclusive: Nissan expands Ghosn probe to include Renault alliance: sources

PARIS (Reuters) - Nissan's investigation into alleged misconduct by Chairman Carlos Ghosn is expanding to include Renault-Nissan finances, sources told Reuters - a sign that Nissan may seek to loosen its French parent's hold on their global carmaking alliance.

Global Markets: iPhone demand worries send ripples through global markets

LONDON (Reuters) - World stock markets fell on Tuesday as worries over softening demand for the iPhone prompted a sell-off by tech stocks around the world, while the arrest of car boss Carlos Ghosn pulled down Nissan and Renault.

NTPC signs pacts with cab aggregators for EVs charging infrastructure

State-run power giant NTPC Tuesday said it has signed pacts with online cab aggregators Ola, Lithium, Shuttl, Bikxie, Bounce, Electrie and Zoom Car for creation of public charging infrastructure for electric vehicles. The collaboration with these aggregators, having presence in the entire spectrum of e-mobility across India, will lead to development of charging infrastructure for the various vehicle segments as well as effective utilisation of public charging infrastructure, an NTPC statement said. The arrangement would thus provide a win-win situation for all stakeholders. NTPC is planning to provide charging solutions for the entire range of electric vehicles ranging from electric buses to electric two/three-wheelers and developing associated e-mobility ecosystem across the country. NTPC is in discussion with various state/city administrations for creation of charging infrastructure for public transport and has signed MoUs for cities of Jabalpur, Navi Mumbai and Bhopal. The NTPC has

France urges Renault to replace Ghosn, defends alliance

PARIS/TOKYO (Reuters) - France urged Renault on Tuesday to replace CEO Carlos Ghosn a day after his arrest in Japan on financial misconduct allegations, but sought to defend the carmaker's alliance with Nissan, which has been rocked by the scandal.

PM Imran Khan leaves for Malaysia; likely to seek monetary aid

Prime Minister Imran Khan Tuesday left for Kuala Lumpur on a two-day official visit to Malaysia where he is likely to seek monetary assistance to minimise the cash-strapped Pakistan's dependence on an IMF bailout package. Prime Minister Khan was accompanied by Foreign Minister Shah Mahmood Qureshi, Finance Minister Asad Umer, Information Minister Fawad Chaudhry and Adviser on Commerce Abdul Razak Dawood, Radio Pakistan reported. This is Khan's first bilateral visit to Malaysia after assuming office in August. Prime Minister Khan and his Malaysian counterpart Mahathir Mohamad will have a tete-a-tete, followed by the delegation-level talks, the Foreign Office said. The two countries enjoy warm brotherly relations founded in mutual respect friendship and understanding reinforced by strong cultural and religious affinities, the Foreign Office said in a statement last week. Khan's visit "would provide an opportunity to further cement the existing friendly and cordial bilateral relations by

Shriram Transport Finance raises Rs 250 cr

Shriram Transport Finance has raised Rs 250 crore by issuing bonds on a private placement basis, the company said Tuesday. The allotment committee of the company in its meeting held Tuesday approved and allotted 2,500 secured redeemable rated listed non-convertible debentures of face value of Rs 10 lakh each aggregating to Rs 250 crore on private placement basis, the company said in a regulatory filing. The tenure of the bonds is two years, three months and 19 days and carries varied coupon rate in three slabs. Shriram Transport Finance shares closed 2.22 per cent down at Rs 1,193.90 on BSE.

Govt pushing for air freight stations to cut cargo operation cost: Choubey

Air Freight Station is an off-airport common user facility that offers service for handling and temporary storage of import and export cargo

Analysis: Bitcoin for payments a distant dream as usage dries up

LONDON (Reuters) - The use of bitcoin for commercial payments has dropped dramatically this year, even as the original digital coin starts to fulfil one of the basic features of any payment currency: stability.

We are leading India's premium smartphone market: Samsung official

With over 50 per cent market share, Samsung has emerged as the top player in India's premium smartphone market in the third quarter of 2018, a top company executive said here on Tuesday.

Peters Surgical invests over 5 mn euros to expand manufacturing facility in India

French medical devices maker Peters Surgical Tuesday said it has invested over 5 million euros (around Rs 40 crore) to expand its manufacturing facility in India which has helped increase the production capacity to 33 million surgical sutures a year. The company is also planning to manufacture more products such as surgical clips, single use instruments for laparoscopic surgery, surgical meshes and tissue glues at its Manesar facility in Haryana. "We have expanded the capacity of our manufacturing plant to 33 million surgical sutures per year from 9 million sutures earlier," Peters Surgical Group CEO Thierry Herbreteau told PTI. This manufacturing site will serve not only the patients in India but also in other countries, he added. "The company also plans to introduce and make more products in our portfolio such as surgical clips, surgical glue and laparoscopic instruments in India," Herbreteau said. On the investment the company has made for upgrading the facility, he said: "It is ...

Rupee gains for 6th straight session, rises 21 paise

The rupee rose by 21 paise to end at 71.46 against the US dollar Tuesday on increased selling of the greenback by exporters amid softening crude oil prices, and persistent foreign fund inflows. This is the sixth straight session of gains for the domestic unit as the US dollar weakened against some currencies overseas. In the last six trading sessions, the rupee has gained 143 paise. "Domestic currency strengthened for a sixth day after RBI's OMOs supported rupee's rise that has been set off by declining oil prices and continued capital inflows. The appreciation has happened even as Dollar fell to a two week low following Fed's cautious comments over a potential global slow down," Anand James, Chief Market Strategist at Geojit Financial Services, said. The Reserve Bank Monday said it will inject Rs 8,000 crore into the system through purchase of government securities on November 22. At the Interbank Foreign Exchange (forex), the rupee opened on a firm note at 71.39. It gained further ..

Uber's Middle East rival Careem looks to raise up to $200 million in China: source

HONG KONG (Reuters) - Careem, Uber's main Middle East rival, is looking at raising between $100 million and $200 million from Chinese investors, a source with direct knowledge of the matter told Reuters.

Target third-quarter comparable sales, earnings fall, shares drop 11 pct

(Reuters) - Target Corp reported third-quarter earnings and comparable sales below estimates on Tuesday, at a time when a strong economy has boosted consumer spending at rival retailers, sending its shares down 11 percent in premarket trade.

Voting ends for final phase of Chhattisgarh Assembly polls

Polling for the second and final phase of Chhattisgarh Assembly elections entailing 72 constituencies spread across 19 districts officially ended on Tuesday, with over 60 per cent of the over 1.5 crore electorate exercising their franchise.

WB govt increased both planned and capital expenditure: Mitra

West Bengal Finance Minister Amit Mitra Tuesday said the TMC government has been able to increase both planned and capital expenditure despite the state facing huge debt. "Despite facing huge debt burden we have been able to increase both planned and capital expenditure by five times and four times respectively," Mitra said during the Question Hour in the Assembly. "We have been able to reduce the fiscal deficit and revenue deficit during our tenure," Mitra said. The previous Left Front government has pushed the state towards a debt trap but the TMC government, through its financial discipline, has been able to bring down the fiscal and revenue deficit, he said. West Bengal Chief Minister Mamata Banerjee, time and again, has sought loan waiver and generous central funds for state, and had accused the previous Left Front government for pushing the state towards a debt trap.

Xiaomi to set up 5,000 offline stores in rural India by 2019-end

India's largest smartphone vendor Xiaomi said Tuesday it will set up 5,000 Mi Stores across rural India by the end of 2019, a move that is expected to generate over 15,000 jobs. Xiaomi, which entered India in 2014 and sold smartphones exclusively online, ventured into offline retail in 2017. It operates its own chain of Mi Homes, apart from Mi Preferred Partners through franchise model. "It's been over a year since we started offering our products through offline retail and we have seen strong growth there ... About 4-5 months ago, we started piloting what we called Offline 2.0 - where we are going to tier IV, V and beyond, rural India with our offline retail offering," Xiaomi Vice-President and India Managing Director Manu Jain told reporters here. He added that under the 'Mi Store' model, the company has already set up 500 stores and will take the number to 5,000 by end of 2019. "Located across 14 states, these 500 Mi Stores were inaugurated at the same time on October 29 ... which .