Page 1831 - Business Finance
UBS lures more money from U.S. super rich to Switzerland
ZURICH (Reuters) - A decade after a U.S. crackdown ended Swiss banking secrecy, rich Americans are flocking back to UBS as they look to diversify their investments in a volatile U.S. political landscape, a senior executive at the Swiss group told Reuters.
Office space leasing at 36.4 mn sq.ft during Jan-Sep: Report
Total area of office space leased out across major cities in the country during the January-September period in 2018 stood at 36.4 million square feet, 26 per cent higher on a year-on-year basis, a Colliers International report said on Friday.
S&P 500 edges lower on chip weakness, oil boosts energy stocks
(Reuters) - The S&P 500 edged lower on Friday as chip stocks tumbled after weak forecasts from Nvidia and Applied Materials, but a recovery in oil prices for a third day lifted energy stocks.
ADB to lend $300 mn to boost infra funding by IIFCL
India and the Asian Development Bank (ADB) on Friday signed a $300-million loan agreement to support state-run India Infrastructure Finance Company Ltd (IIFCL) that provides long-term finance to infrastructure projects.
Wall Street opens lower as Nvidia hammers tech stocks
(Reuters) - U.S. stocks opened lower on Friday, as technology companies suffered sharp losses following disappointing forecasts from chip companies Nvidia and Applied Materials.
Australia raps India sugar subsidies as part of WTO transparency drive
GENEVA (Reuters) - India's annual subsidies to sugarcane producers have breached the allowed limits by as much as tenfold in the past six years, Australia told the World Trade Organization in a document published by the world body on Friday.
BSE to offer incentive schemes for G-sec, T-bills from Nov 19
To encourage wider participation from retail investors, stock exchange BSE on Friday said it will launch incentive scheme for trading members in non- competitive bidding of G-sec (government security) and T-bills (treasury bills) with effect from November 19. The scheme would be launched initially for six months and would be based on the total value collected and number of unique clients introduced by trading members in a month. BSE had launched non-competitive bidding in G-sec and T-bills from April 24 after taking necessary approvals from Sebi and RBI for collecting bids from retail investors. ***************** IIFL Wealth Management to distribute Amex platinum cards * Wealth management firm IIFL Wealth Management on Friday said it has partnered with the world's largest card issuer by purchase volume American Express to distribute the latter's platinum cards to to meet the needs of its high networth clients. IIFL Wealth Management is the investment and financial ...
ECB can change rate path if inflation slows: Draghi
FRANKFURT (Reuters) - The European Central Bank can change its plans to start raising interest rates late next year if borrowing costs rise too far or inflation slows, ECB President Mario Draghi said on Friday.
U.S. manufacturing output beats expectations in October
WASHINGTON, Nov 16 (Reuters) - U.S. manufacturing output increased for a fifth straight month in October, shrugging off a sharp decline in motor vehicle production and suggesting underlying strength in factory activity.
Indian health-fitness app start-up forays into Malaysia
As part of its overseas geographic expansion into southeast Asia, Indian health and fitness app, HealthifyMe, has forayed into Malaysia to offer its services including diet and fitness plans, said a top official on Friday.
Flat growth for consumer appliances sector in H1 FY19: CEAMA
The consumer appliances and electronics sector, barring washing machines, has witnessed almost flat growth in the first half of this fiscal largely due to rupee depreciation that has spiked input costs, according to industry body CEAMA. In some segments like TV and AC, there was de-growth in volumes, while refrigerator sales were almost flat, Consumer Electronics and Appliances Manufacturers Association's (CEAMA) outgoing President Manish Sharma said. The only respite for the industry was the festive season sales in October, when it reported good single-digit growth. "YTD (year-to-date) till September 2018, there was either de-growth in certain categories or flat, except for washing machines," Sharma told PTI. "If we add the October sales (Diwali period), these were better and because of that, YTD till October closed around 3 to 4 per cent," he added. The industry was hoping for double-digit growth this year after emerging from the impact of GST and demonetisation, but was hit by ...
Global Markets: Europe battles Brexit blues, Wall Street faces tech stress
LONDON (Reuters) - European stocks slipped again, and sterling and the euro remained volatile on Friday, as one of the most dramatic twists yet in the Brexit process compounded another turbulent week for world markets.
Fed's Clarida says being at neutral 'makes sense': CNBC
(Reuters) - Richard Clarida, the newly appointed vice chair of the Federal Reserve, said on Friday that U.S. interest rates are nearing Fed estimates of a neutral rate, and being at neutral "makes sense."
GE Capital to sell $1.5 billion healthcare equipment financing business
(Reuters) - General Electric Co's finance arm GE Capital said it is selling its healthcare equipment finance business worth $1.5 billion to U.S. regional lender TIAA Bank.
Nasdaq futures fall 1 percent as Nvidia takes down chipmakers
(Reuters) - Nasdaq futures fell more than 1 percent on Friday, as disappointing forecasts from chip companies Nvidia and Applied Materials battered the technology sector and fueled further worries about a chip boom that maybe grinding to a halt.
People are our greatest asset. Wanna buy them?
BUDAPEST (Reuters) - Eastern Europe's chronic labour shortage is feeding into corporate takeover activity, with some companies making acquisitions to snap up skilled workers or obtain expertise needed to expand their businesses.
Australia tells WTO that India massively overpaid sugar subsidies
GENEVA (Reuters) - India's annual subsidies to sugarcane producers have breached the allowed limits as much as tenfold in the past six years, Australia told the World Trade Organization in a document published by the world body on Friday.
Global cues, fund influx buoy equity indices; telecom stocks rise (Roundup)
Broadly positive global markets, influx of foreign funds and healthy macro-economic trade data lifted the key Indian equity indices on Friday.
Chinese regulator to probe Didi-Uber multi-billion-dollar merger deal
The Chinese market regulator is investigating the multi-billion-dollar merger of two ride-hailing businesses, Didi and Uber's China branch, in accordance with the anti-monopoly law and regulations, an official said on Friday. Wu Zhenguo, head of the Anti-Monopoly Bureau of the State Administration for Market Regulation, told a press conference that the administration is working to comprehensively assess the deal's impact on competition and development of the industry. China will crack down hard on monopolistic activity that damages consumer rights, Wu said. Didi took over its US rival's China business in August 2016, sparking concern over potential monopoly. The ministry of commerce said a month later it was investigating the merger. Didi announced in August, 2016 that it was taking over Uber China, in a deal that values the merged operations in China at USD 35 billion. Uber took a 5.9 per cent stake in Didi, which in turn did not disclose the stake it will take in Uber. Uber China's .
Srei consolidated Q2 Net up 29% at Rs 111 crore
Srei Infrastructure Finance Limited on Friday reported a consolidated net profit of Rs 110.9 crore for the Q2 period of FY19 ended September 30, 2018, up 29 per cent over the corresponding period last year. The company registered a profit of Rs 86 crore in the corresponding quarter of FY18, it said in a statement. The gain in 'fair value changes' during the quarter was at Rs 131.77 crore, against Rs 18.49 crore in the corresponding period of the last year. The interest income for the Q2FY19 remained flat at Rs 1,019 crore. On a standalone basis, Srei reported a dip in interest income to Rs 350.6 crore for the quarter against Rs 431.8 crore in Q2FY18. The gain on fair value was Rs 16.68 crore, up from Rs 5.3 crore. Net profit for the period was at Rs 29.13 crore as against Rs 27 crore in Q2FY18. Srei said it has appointed Rakesh Bhutoria as the Chief Executive Officer from November 16.