Page 2076 - Business Finance
Federal Reserve unveils proposal to ease regulations for larger banks
WASHINGTON (Reuters) - The Federal Reserve said on Wednesday it wants to ease regulations for U.S. lenders with less than $700 billion in assets, a way to lessen the burden on big commercial lenders that do not have volatile Wall Street businesses.
Global markets: Robust earnings boost equity markets after brutal month
NEW YORK (Reuters) - Robust corporate results helped world stock markets surge on Wednesday, bringing some relief to jittery investors after a brutal October sank equities with one of their worst drops since the financial crisis 10 years ago.
Oil prices fall on signs of rising global supply
NEW YORK (Reuters) - Oil prices fell on Wednesday and posted the worst monthly performance since mid-2016 on evidence of rising global crude supply, but losses were limited by signs of strong U.S. demand for fuel.
GM offers buyouts to 18K workers after posting strong profit
As General Motors reported a healthy $2.5 billion third-quarter profit, the Detroit automaker ramped up its cost-cutting efforts by offering buyouts to 18,000 white-collar workers. The company, while acknowledging it's in good shape now, said Wednesday it needs to be smaller to prepare for tougher times that might be ahead as it continues to get ready for a future of electric and autonomous vehicles. "Even with the progress we've made, we are taking proactive steps to get ahead of the curve by accelerating our efforts to address overall business performance," GM said in a statement. "We are doing this while our company and economy are strong." The earnings and buyout news drove GM shares higher in Wednesday afternoon trading. The stock was up 8.6 percent to $36.43, after mostly falling since June. Buyout offers were made Wednesday to salaried workers in North America with 12 or more years of service. GM spokesman Patrick Morrissey wouldn't say whether the company has a target number ..
Wall Street jumps as tech bounces back at end of blistering month
NEW YORK (Reuters) - U.S. stocks rebounded for a second day on Wednesday, as investors snapped up beaten-down technology and internet favourites and strong company results lifted spirits after equities had been spooked this month.
Shares for institutional investors in Coal India OFS over-subscribed
In the opening day of Coal India shares sale by the Centre, the portion of shares reserved for non-retail investors, was oversubscribed by 1.06 times on Wednesday.
HC moved against insolvency applications of corporate defaulters
The Madras High Court on Wednesday issued a notice to the Insolvency and Bankruptcy Board of India (IDBI) on a petition which sought to restrain it from proceeding with insolvency applications of corporate bank loan defaulters. Justice R Mahadevan also impleaded the Reserve Bank of India as a respondent. The court observed that when farmers are dying due to inability to repay loans, the attitude of bankers towards such corporate defaulters has to be viewed seriously. Petitioner Siddarth Govind, an advocate, submitted that five major corporate bank loan defaulters alone owed around Rs 78,000 crore to various banks. He sought a direction restraining the IDBI from proceeding with the insolvency applications till disposal of other litigations and ongoing investigations initiated by government agencies against such companies. The petition also sought a direction to the Centre to amalgamate subsidiary companies which have defaulted on bank loan repayments with their promoters under Section .
Jet receives payment delay notice from aircraft lessors
Jet Airways on Wednesday said that it has received notices for payment "delays or defaults" from some aircraft lessors.
IL&FS new board submits progress report to NCLT
The new board of IL&FS Group on Wednesday submitted the progress report to the National Company Law Tribunal, Mumbai (NCLT).
Gold slides to three-week low as dollar rises, stocks rebound
BENGALURU (Reuters) - Gold fell to a near three-week low on Wednesday as the dollar scaled a 16-month peak and a stock market rebound stirred renewed appetite for riskier investments.
India jumps to 77th spot in WB's Ease of Doing Business rankings
India has climbed 23 places in the World Bank's (WB) latest Ease of Doing Business rankings in a near-repeat of its performance last year and now stands at 77 among 190 countries assessed by the multilateral lender.
Tata Motors Q2 standalone net profit at Rs 109 cr
Automobile major Tata Motors on Wednesday reported a standalone net profit of Rs 109.14 crore during the quarter ended September 30, on the back of rise in sales.
'NCLT directs status quo in Buildwell Builders' shareholdings'
The National Company Law Tribunal (NCLT) Delhi has directed Buildwell Builders Pvt Ltd, an associate company of Omaxe, to maintain 'status quo in respect of shareholdings and directorship till further orders.
Canara Bank net up 15.4 per cent in Q2
State-run Canara Bank on Wednesday reported Rs 300-crore net profit, registering 15.4 per cent annual growth for second quarter of fiscal 2018-19 from Rs 260 crore in the same period a year ago.
Non-subsided LPG cylinder cost up Rs 60 in Delhi
The price of non-subsidised LPG cooking gas will go up by Rs 60 per cylinder in New Delhi and that of subsidised one by a marginal Rs 2.94, effective November 1.
Tata Hitachi plans to invest Rs 250 crore in two years
Construction and mining equipment maker Tata Hitachi is planning to invest Rs 250 crore over the next two years in its two plants at West Bengal's Kharagpur and Karnataka's Dharwad, an official said on Wednesday.
Canara Bank net up 15.4% in Q2
State-run Canara Bank on Wednesday reported Rs 300-crore net profit, registering 15.4 per cent annual growth for second quarter of fiscal 2018-19 from Rs 260 crore in the same period year ago.
VP Naidu invites Botswanian firms to do business with India
Vice President Venkaiah Naidu Wednesday invited companies in Botswana to seize business opportunities in India, which he said is moving rapidly on the path of economic transformation. Addressing business leaders at the 13th Global Expo Botswana 2018, Naidu said Botswana and India enjoy a longstanding and enduring partnership as the two countries share the common values of democracy and strong people-to-people ties. Naidu, who arrived here this evening on the first leg of his three-nation visit to Botswana, Zimbabwe and Malawi, inaugurated the expo along with his Botswanian counterpart Slumber Tsogwane. Twenty-five Indian companies have taken part in the expo, the largest participation from a single country. "India commends Botswana's significant role in integrating its regional partners and promoting inclusive growth for Africa, he said. "I come from a country that has, from time immemorial, believed that the entire world is one large family. It is a country that has espoused peaceful
L&T Q2 net up 23% to Rs 2,230 cr on improved performance
Engineering and construction conglomerate Larsen & Toubro (L&T) on Wednesday posted a 23 per cent jump in net profit for the second quarter ending September at Rs 2,230.49 crore on the back of improved revenue realisation and strong growth in its service businesses.
Adani Power Q2 net profit rises by 22%
Adani Power Ltd (APL) on Wednesday reported a 22.09 per cent increase in its consolidated net profit at Rs 386.89 crore in the second quarter ended September from Rs 438.26 crore in the corresponding quarter last year.