Page 2221 - Business Finance
Euro, pound rally on Brexit concession; stocks dip
NEW YORK (Reuters) - Stocks dipped on Friday, dragging a global index into a fourth consecutive weekly loss, while the euro and sterling rallied against the dollar after a report said Britain is ready to drop a key Brexit demand.
JPMorgan to build Silicon Valley fintech office
NEW YORK (Reuters) - JPMorgan Chase & Co said on Friday that it was building a new "fintech campus" in Silicon Valley for more than 1,000 employees, as it pushes to keep abreast of changes in digital payments.
Euro, pound rally on Brexit concession; stocks pare gains
NEW YORK (Reuters) - Stocks erased gains on Friday, with a global index struggling to avoid a fourth consecutive weekly loss, while the euro and sterling rallied against the dollar after a report said the UK is ready to drop a key Brexit demand.
Gold firms as dollar eases, set for third week of gains
BENGALURU (Reuters) - Gold prices edged up on Friday and were on course for a third straight week of gains, supported by robust technical momentum and a softer dollar.
Oil up but posts weekly loss on stock build, trade tensions
NEW YORK (Reuters) - Oil prices rose on Friday on signs of surging demand in China, the world's No. 2 oil consumer, although prices were headed for a second weekly decline on swelling U.S. inventories and concern that trade wars were curbing economic activity.
S&P falls on interest rate, trade concerns; P&G lifts Dow
NEW YORK (Reuters) - The U.S. benchmark S&P 500 stock index edged lower on Friday as strong earnings from Procter & Gamble Co were offset by ongoing concerns about rising interest rates and tensions over trade policy denting economic growth.
S&P 500 index little changed despite strong P&G earnings
NEW YORK (Reuters) - The U.S. benchmark S&P 500 stock index edged lower on Friday as strong earnings from Procter & Gamble Co were balanced by ongoing concerns about rising interest rates and geopolitical tensions denting U.S. economic growth.
Exclusive - CrowdStrike hires Goldman Sachs to lead IPO: sources
NEW YORK/SAN FRANCISCO (Reuters) - Cybersecurity software maker CrowdStrike Inc has hired investment bank Goldman Sachs Group to prepare for an initial public offering that could come in the first half of next year, people familiar with the matter said on Friday.
RBI opposes idea of independent payments regulator, issues dissent note
The Reserve Bank of India (RBI) has released a dissent note on the Inter-Ministerial Committee for finalisation of amendments to the Payment and Settlement Systems (PSS) Act, 2007, and opposed the idea of forming an independent body to regulate payments.The committee was formed by the government under the chairmanship of Secretary, Department of Economic Affairs. In its draft report, it had suggested the creation of an independent regulator Payments Regulatory Board (PRB) to deal with payment-related issues.However, the RBI has rejected the recommendations through its dissent note, stating, "Payment systems are a sub-set of currency which is regulated by the RBI. The overarching impact of monetary policy on payment and settlement systems and vice versa provides support for regulation of payment systems to be with the monetary authority. There is an underlying bank account for payment systems which is under the purview of banking system regulation which is vested with the RBI."The note
Inflationary risks to be felt with calibrated tightening stance: RBI's MPC minutes
Inflationary risks and uncertain global economic scenario led the RBI to adopt the new calibrated tightening stance on interest rates, according to the minutes of the central bank's latest Monetary Policy Committee (MPC) meeting released on Friday.
ArcelorMittal emerges as highest bidder for Essar Steel
Global steel giant ArcelorMittal said Friday it has been selected as preferred bidder for the debt-laden Essar Steel by the Committee of Creditors. The Lakshmi Mittal-owned company, which is the world's largest steel maker has been on a murky legal battle with other bidders, especially the Russian VTB Bank-promoted NuMetal to take over Essar Steel. " ArcelorMittal confirms it has been informed by the Committee of Creditors (CoC) for Essar Steel India Limited (ESIL) that it has been evaluated to be the H1 Resolution Applicant (the preferred bidder) in the corporate insolvency resolution process for ESIL," ArcelorMittal said in a statement. The company said it will now enter into further final negotiations with the CoC. Essar Steel was among the 12 companies referred by the RBI for Insolvency proceedings. ArcelorMittal, earlier this week has said it will pay Rs 7,469 crore to the creditors of Uttam Galva and KKS Petron to be eligible to acquire the debt-laden firm, as per Supreme Court .
Air France inks pay deal in milestone for new CEO
PARIS (Reuters) - Air France-KLM's new Chief Executive Ben Smith struck a pay deal with French unions on Friday, drawing a line under a protracted standoff that had led to costly strikes and the abrupt departure of his predecessor earlier this year.
Russian deputy PM meets U.S. ambassador to discuss sanctions on Gaz Group
MOSCOW (Reuters) - Russian Deputy Prime Minister Dmitry Kozak said on Friday he had met with U.S. ambassador to Russia Jon Huntsman Jr to discuss U.S. sanctions on Gaz Group.
ICICI Securities Q2 net profit up 3%
Investment services firm ICICI Securities (ISec) on Friday reported a rise of three per cent in its net profit for the second quarter of 2018-19.
UltraTech Cement's Q2 standalone net profit down by over 9%
Aditya Birla Group company UltraTech Cement on Friday reported a decline of 9.37 per cent in its standalone net profit for the second quarter of 2018-19.
Oil up but set for weekly loss on stock build, trade tensions
NEW YORK (Reuters) - Oil prices rose 1 percent on Friday on signs of surging demand in China, the world's second-biggest oil consumer, although the market was headed for a second week of losses on rising U.S. inventories and concern that trade wars were curbing economic activity.
Wall Street edges higher on earnings optimism
(Reuters) - U.S. stocks were slightly higher on Friday as strong earnings from major U.S. companies such as Procter & Gamble helped brush aside growth risk concerns in Europe and political tensions related to Saudi Arabia.
IMF says agrees $3.9 billion standby deal for Ukraine
KIEV (Reuters) - The International Monetary Fund said on Friday it had reached a staff level agreement with Ukraine on a new standby assistance deal worth $3.9 billion over 14 months.
Daimler's diesel troubles trigger new profit warning
FRANKFURT (Reuters) - German carmaker Daimler AG said its operating profit would fall by over 10 percent this year, its second earnings warning since June, blaming "government proceedings and measures in various regions" as a crackdown on diesel emissions takes a toll.
French Connection in talks with several parties over sale of company
(Reuters) - French Connection said on Friday it has begun discussions with four interested parties regarding a sale of the British clothing retailer.