Page 2120 - Business Finance

Gold falls on stronger dollar, recovery in equities

BENGALURU (Reuters) - Gold eased on Monday, sliding off a more than three-month peak in the previous session, pressured by a strong dollar and as investors returned to riskier assets following a recent sell-off in global stocks.

S&P 500 rebounds, helped by financials; Nasdaq in check

(Reuters) - The S&P 500 and the Dow industrials rebounded on Monday, helped by gains in lagging financial shares, but declines for big tech and Internet stocks kept the Nasdaq in check as investors grappled with a recent spike in market volatility.

Traceable, recycled beddings to go on sale in US next year: RIL

Reliance Industries Ltd (RIL) on Monday said a new brand of bedding products by home textiles maker GHCL Ltd, Cirkularity, using its ecofriendly high-quality fibre will be available for sale in the United States from the first quarter of 2019.

India-Italy Technology Summit inaugurated

Union Minister Harsh Vardhan and Italian Deputy Minister Michele Geraci on Monday inaugurated the 24th India-Italy Technology Summit here, calling it a platform to deepen ties in terms of knowledge.

Hedge fund BBL goes bullish on diesel, bearish on oil for 2019

LONDON (Reuters) - The market has underestimated the impact of a change in marine fuel oil rules that will turn diesel into 2019's big winner, while crude prices will cool down to around $65 a barrel, a top hedge fund manager told Reuters.

Oil falls as Russia signals output will stay high

NEW YORK (Reuters) - Oil prices edged lower on Monday as Russia signaled output will remain high, but losses were limited ahead of U.S. sanctions on Iranian exports that are expected to reduce supplies when they come into effect in just under a week.

Manual forms for income tax exemptions to be made electronic

The government on Monday proposed doing away with manual filing of application forms seeking exemption of tax on incomes received by a person on behalf of any other fund, university, educational institution, hospital, trust or any other institution.

Global stocks pare gains as investors remain cautious

NEW YORK (Reuters) - Global stocks pared their gains Monday as investors remained cautious despite IBM's $34 billion deal to purchase Red Hat Inc and Standard & Poor's decision to keep Italy's credit rating unchanged.

Gold slips as stocks regain momentum, dollar rises

BENGALURU (Reuters) - Gold eased on Monday, sliding off a more than three-month peak hit in the previous session, pressured by a strong dollar and as investors moved back into riskier assets following a recent selloff in global stocks.

Danske Bank clears whistleblower to speak freely in European Parliament

COPENHAGEN (Reuters) - A whistleblower who helped to reveal a major money laundering scandal at Danske Bank has been freed of confidentiality obligations to the company ahead of his testimony in the European Parliament next month.

Regularly updating lessors, partners on steps taken to improve liquidity: Jet

Jet Airways said Monday it is actively engaged in updating partners, including lessors, about steps being taken to improve liquidity. The full service carrier has been grappling with financial woes and has also delayed payment of salaries. According to a regulatory filing, the company is actively engaged with all its partners, including lessors and airport operators and regularly providing them updates on efforts undertaken by the company to improve its liquidity. "Our partners understand the challenges faced by the Indian aviation industry and have been supportive of the company's efforts," it added. The filing came in response to a clarification sought by stock exchanges about reports that the airline has defaulted on lease rentals. Shares of Jet Airways declined 1.41 per cent to close at Rs 213.95 on the BSE.

BPCL second-quarter profit almost halved by refinery fire, misses estimates

(Reuters) - Bharat Petroleum Corp Ltd's profit nearly halved in the second quarter, well below analysts' expectations, after a unit at its Mumbai refinery was closed by a fire.

Sebi imposes fine of Rs 5 lakh on NCL Industries for violating mkts norms

Market regulator Sebi Monday imposed a fine of Rs 5 lakh on NCL Industries for violating disclosure norms with regard to selling of preferential shares by its promoter group in the lock-in period. During the lock-in period, promoters or promoter group cannot sell preferential shares allotted to them till the period is over (six months). The Securities and Exchange Board of India (Sebi) observed that two of the company's promoter groups sold a total 3,25,106 shares between August to December, 2015 while the lock-in period was still active, according to a Sebi order. "Failure of NCL to lock-in shares of promoter entities had affected the confidence of the investors as such failure had facilitated promoter to gain substantially. Therefore, it is essential to impose the penalty which shall act as deterrent to the Noticee (NCL)," the watchdog said. Accordingly, Sebi imposed a fine of Rs 5 lakh on the firm. In a separate order, Sebi imposed a penalty of Rs 5 lakh on Pilot Consultants, a ...

Cost control helps HSBC to spring surprise with strong profit growth

HONG KONG/LONDON (Reuters) - HSBC Holdings Plc posted a higher-than-expected 28 percent rise in quarterly profit on Monday, showing progress in its battle to control costs and shaking off fears that rising global political tensions could hurt its business.

Analysis: Sri Lanka's political crisis trigger major economic concerns

COLOMBO/MUMBAI (Reuters) - A decision by Sri Lanka's president to fire the prime minister has raised doubts among global investors and credit analysts about the near-term economic health of a country already grappling with slow growth and a falling currency.

UK borrowing to fall, opening way for end of austerity: Hammond

LONDON (Reuters) - British finance minister Philip Hammond announced a fall in the country's expected borrowing needs between now and the mid-2020s as he began his final budget speech before Britain leaves the European Union.

India-Italy trade on upswing, crossed $10.5 bn last year

The growth in bilateral trade between India and Italy has picked up in recent years and increased by 10 per cent in 2017-18 over the previous fiscal, Italian Trade Agency Chief Executive Piergiorgio Borgorelli said on Monday.

U.S. consumer spending solid; income gain smallest in 15 months

WASHINGTON (Reuters) - U.S. consumer spending rose for a seventh straight month in September, but income recorded its smallest gain in more than a year on moderate wage growth, suggesting the current pace of spending was unlikely to be sustained.

Wall Street claws back as financials lead

(Reuters) - U.S. stocks gained on Monday, helped by relief over Italy maintaining its debt rating, as equities clawed back from a sharp sell off last week.

Tech recovery helps global stocks rebound after choppy week

NEW YORK (Reuters) - A recovery in technology stocks following IBM Corp's $34 billion deal to buy Red Hat Inc and Standard & Poor's decision to leave Italy's ratings level unchanged helped global stocks rebound on Monday after choppy sessions last week.