Page 2127 - Business Finance
Oil falls as economic outlook grows gloomier
LONDON (Reuters) - Oil prices fell on Monday, as concern over the global economy put crude on track for its biggest monthly fall since mid-2016.
UK lending growth hits three-year low after car sales fall: BoE
LONDON (Reuters) - British consumer borrowing rose at the slowest rate in more than three years last month after new car sales fell by a fifth, the Bank of England said on Monday, in news likely to raise concern about the economy's strength.
South Korea says 2018 exports likely to exceed $600 billion to record
SEOUL (Reuters) - South Korea's customs agency said on Monday exports this year are likely to exceed $600 billion and reach a record, up from last year's $573.7 billion.
Modi asks Japan's MSMEs to explore business opportunities in India
Prime Minister Narendra Modi on Wednesday asked Japan's medium, small and micro enterprises to explore business opportunities in India and assured them of a more conducive environment to consolidate bilateral trade ties. Modi, who is here to attend the 13th India-Japan annual summit, said the ease of doing business was his top priority. "Some years ago, I spoke about making a mini-Japan in India. It's a matter of great happiness for me that today, you are working in an even larger number in India," Modi said while addressing 'Make in India: India-Japan Partnership in Africa and Digital Partnership' seminar in Tokyo on Monday. Modi said when he became prime minister in 2014, India was at 140th position in the 'ease of doing business' ranking of the World Bank. "Now India has reached 100th position and we are working towards better ranking," he said. He said the Indian government was making all efforts to change the country's business environment and ensure that there is ease of doing ..
Sensex, Nifty surge over 2% on value buying (Fourth Lead)
The Sensex on Monday spurted over 700 points to scale the 34,000-mark, as investors boosted purchases after a string of declines had taken the barometer indices to a 7-month low last week.
China factory growth seen cooling further as U.S. tariff impact mounts: Reuters poll
BEIJING (Reuters) - Growth in China's factory sector likely cooled further in October as domestic demand faltered and exporters felt a bigger sting from an intensifying trade war with the United States, a Reuters poll showed.
Singapore 180-cst fuel oil crack climbs to record high: Refinitiv data
SINGAPORE (Reuters) - The front-month Singapore 180-centistoke (cst) high-sulphur fuel oil refining margin climbed to a record high on Monday, boosted by falling crude oil prices and concerns over looming U.S. sanctions on Iranian oil exports next month.
Rane Holdings records dip in consolidated Q2 net
: Rane Holdings Ltd, part of the diversified conglomerate Rane Group, has recorded a drop in its consolidated second quarter profits ending September 30, 2018 at Rs 33.86 crore. The city-based company had registered consolidated net profit at Rs 37.50 crore during corresponding quarter of previous year. For the half year ending September 30, 2018 consolidated net profits stood at Rs 66.52 crore as against Rs 73.48 crore registered in the year-ago period. The consolidated total revenue for the July-September 2018 quarter grew to Rs 647.89 crore from Rs 562.03 crore registered same period of previous year. For the six-month period ending September 30, 2018 the consolidated total revenue went up to Rs 1,290.56 crore from Rs 1,100.64 crore registered in same period of last year. In a statement, company CMD, L Ganesh said, "the group companies experienced strong demand from the customers and delivered robust growth. We continued to experience headwinds on material and ...
Spencer's offers bread made from 2,000-year-old Roman recipe
Recreating a Roman bread which was popular in the city of Pompeii almost 2,000 years ago, RP-Sanjiv Goenka Group's Spencer's Retail on Monday introduced the new product in the city.
Basant, Prashant Jhawar to back Usha Martin sale to Tata Steel
Prashant Jhawar, former chairman of Usha Martin, who had earlier disapproved the sale of steel business to Tata Steel, will back the resolution in the upcoming shareholders' meeting slated for the next month. Basant Kumar Jhawar and his son Prashant own 25.5 per cent stake in steel wire maker Usha Martin. "We had earlier welcomed the possible involvement of the Tatas in the management of Usha Martin's steel division resulting in value for all stakeholders. "In order to facilitate this, we have instructed our lawyers to support the resolution for the sale of the steel division of Usha Martin to the Tata Sponge Iron Ltd (TSIL), at the forthcoming shareholders meeting," Prashant Jhawar said in a statement. The shareholders' meeting is scheduled for November 10. According to sources: "This does not indicate any settlement within the family. The support to the deal is only an acknowledgement of TSIL's ability to run the steel business". Concerns on the current management of the Usha Martin
All sectoral indices on BSE gain
The S&P BSE Healthcare index, the S&P BSE Realty index and the S&P BSE Capital Goods index were the major gainers among the sectoral indices.
Flipkart India losses widen to Rs 2,063.8 crore in FY18
Flipkart India, the B2B arm of the e-commerce major Flipkart, has registered a manifold jump in losses at Rs 2,063.8 crore during 2017-18 compared to the previous fiscal as the Walmart-backed company fights a bruising battle against rival Amazon. The company's total loss stood at Rs 245.04 crore in 2016-17. Its revenue from operations, however, saw a 40.4 per cent jump to Rs 21,438.65 crore in FY2017-18 from Rs 15,264.42 crore in the previous fiscal, as per regulatory documents filed with the corporate affairs ministry. Flipkart India's employee benefit expenses grew to Rs 331.54 crore in the said fiscal from Rs 166.66 crore in 2016-17, the documents provided by business intelligence platform Tofler showed. Flipkart's e-commerce business Flipkart Internet also posted a consolidate loss of Rs 1,160.6 crore for the financial year ended March 2018. While this was lower than the previous year's Rs 1,640.2 crore. The combined loss of the two Flipkart entities -- Flipkart India and Flipkart
Sundram Fasteners July-September qtr standalone net up 21.8%
: Auto component manufacturer Sundram Fasteners Ltd has clocked a 21.8 per cent rise in its standalone net profits for the quarter ending September 30, 2018 to Rs 110.22 crore. The city-based TVS Group company recorded net profits at Rs 90.43 crore during the corresponding period year ago. For the half year ending September 30, 2018 net profits of the company grew to Rs 216.40 crore, from Rs 180.60 crore registered during the year-ago period. Total income for the July-September quarter went up to Rs 1,011.19 crore, from Rs 826.74 crore registered during year ago period. For the six month period ending September 30, 2018 standalone total income surged to Rs 1,997.47 crore from Rs 1,685.24 crore registered in the year-ago period. In a statement, the company said it crossed the milestone of posting quarterly revenue from operations of Rs 1,000 crore for the first time. Sales from overseas market for the quarter ending September 30, 2018 were at Rs 334.76 crore as against Rs
Global Markets: European stocks bounce back on Italy relief, China growth worries linger
LONDON (Reuters) - Concern over China's slowing economy dented U.S. stock futures and kept world stocks under pressure on Monday although European shares climbed thanks to encouraging earnings reports and relief that Italy dodged a ratings downgrade.
HSBC's Flint sees 'positive jaws' target on track after third-quarter profit beats view
HONG KONG/LONDON (Reuters) - HSBC Holdings Plc posted a higher-than-expected 28 percent rise in third-quarter profit as a renewed push to rein in costs and market share gains in its mainstay Asian region paid off, sending its Hong Kong shares sharply higher on Monday.
Sensex jumps 760 points to reclaim 34,000-mark (Third Lead)
The benchmark Sensex jumped 760 points on Monday to reclaim the 34,000-mark, as investors stepped up purchases after a bout of declines last week.
Mangalore Chemicals & Fertilizers Announces Q2 Results FY 18-19
/ -- Company registers a growth of 25% Q2 FY17-18 vs Q2 FY18-19 Mangalore Chemicals & Fertilizers Limited (MCF), a subsidiary of Zuari Agro and Chemicals Ltd (ZACL), today announced its financial results for the quarter ended September 30, 2018 (Q2 FY18-19). The Company witnessed a growth in business because of hardening of commodity prices globally and depreciating rupee against US Dollar. Total income of the Company rose from Rs. 803 crore in Q2 FY17-18 to Rs. 1001 crore in Q2 FY18-19, while profit before tax increased from Rs. 31 crore in Q2 FY17-18 to Rs. 45 crore in Q2 FY18-19. Subsequently, profit after tax (PAT) increased from Rs. 20 crore to Rs. 29 crore during the same period. Half Yearly Results for the Financial Year 2018-19 For the half year ended on 30th September 2018, the total revenue is Rs. 1674 crore as against Rs. 1397 crore during the corresponding period last year. While profit before tax is Rs. 38 crore as against a profit of Rs. 27 crore and profit after tax
Wonderla Holidays announces change in CFO
On 29 October 2018
TCS' Repeatable Carve-Out Model helps Bayer Complete Multiple Divestitures On Time
Following its 2016 announcement to acquire Monsanto, Bayer had to divest certain crop science businesses in order to obtain regulatory approvals. Bayer partnered with TCS to create a scalable, repeatable carve-out solution spanning the complete stack of IT systems, infrastructure and operations, to execute the divestiture of multiple business entities within a very short timeline of eighteen months.
Tech Mahindra, Rakuten to set up 5G labs in Tokyo, Bengaluru
Software major Tech Mahindra on Monday signed a Memorandum of Understanding (MoU) with Japanese electronic company Rakuten for building next-generation (4G and 5G) software-defined network laboratories in Bengaluru and Tokyo.