Page 2223 - Business Finance
RBI's monetary policy committee highlight inflation spike risk, signal rate hikes
MUMBAI (Reuters) - The Reserve Bank of India's monetary policy committee sees a risk of rising headline inflation from high crude oil prices and a weak rupee, indicating potential rate hikes ahead even as it held rates unchanged at its last meeting.
Cyprus refused to grant more time to rescue airline
Cyprus turned down appeals from the country's ailing airline Cobalt for more time to find investors as it withdrew the carrier's operating licence, officials said Friday. "We wanted more time, but our licence was revoked," Cobalt's chairman Grigoris Diakos told state radio, a day after the carrier's sudden collapse. "We asked for a suspension (of the licence), we needed two months to find a strategic investor after the Chinese investor pulled out," he added. Diakos said there were "one or two serious proposals" from potential investors. But the Cyprus Air Transport Licensing Authority (ATLA) decided to revoke the licence, senior transport ministry official Alecos Michaelides said. A temporary suspension was ruled out because there was no sign of a solid rescue plan. "A company that is constantly posting losses, and especially losses of around 30 million (euros, or USD 34 million) a year over a three-year period, cannot survive," Michaelides told ANT1 television. He said the strategic
Dell to take $21.7 billion tracking stock offer to December vote: sources
(Reuters) - Dell Technologies Inc will ask holders of "tracking stock" tied to its software company VMware Inc to vote on its $21.7 billion cash-and-stock offer to buy it back from them on Dec. 11, according to people familiar with the matter.
Wall Street gains at open on strong results
(Reuters) - U.S. stocks opened higher on Friday on upbeat results from major U.S. companies such as P&G and Honeywell.
Wall Street set to rebound on strong earnings
(Reuters) - U.S. stocks were set to open higher on Friday as a handful of major U.S. companies posted strong results, helping to relieve concerns about political and growth risks in Europe and Saudi Arabia that drove a 1 percent fall a day earlier.
Schlumberger reports slight profit beat despite sluggish U.S. growth
(Reuters) - Oilfield services provider Schlumberger NV on Friday reported a slight profit beat but said that the pace of growth in North America had slowed due to transportation bottlenecks in the largest U.S. shale basin.
Onion prices to fall: Government
With onion prices going up during the festival season, the government on Friday said fresh supplies from Karnataka will increase its availability in a week's time bringing down the prices to "moderate" level.
Oil up but set for weekly loss on stock build, trade row
LONDON (Reuters) - Oil prices rose on Friday on signs of surging demand in China, the world's second-biggest oil consumer, although the market was heading for a second week of losses on rising U.S. inventories and concern that trade wars were curbing economic activity.
Petrol, diesel prices down for second consecutive day
In a Dussehra relief for consumers, state-run oil marketing companies (OMCs) cut the prices of key domestic transportation fuels -- petrol and diesel -- for the second consecutive day on Friday.
Jet Airways shares soar 6 pc
Shares of Jet Airways soared 6 per cent Friday amid reports that Tata Sons is mulling acquiring stake in the crisis-hit firm. The stock surged by 6.06 per cent to end at Rs 229.30 on the BSE. During the day, it zoomed 8.18 per cent to Rs 233.90. On the NSE, shares of the company jumped 6 per cent to close the day at Rs 229.70. In terms of the equity volume, 13.24 lakh shares of the company were traded on the BSE and over 1 crore shares changed hands on the NSE during the day. Tata Sons is mulling acquiring stake in crisis-hit Jet Airways, according to sources. The sources said Tata Sons is mulling purchasing stake in Jet Airways and the plans are at a very early stage. When asked about the reports that Tata Sons is in discussions with Jet Airways for purchasing stake, an airline spokesperson said the information is "totally speculative". Meanwhile, the BSE has sought clarification from Jet Airways on October 19, 2018, with reference to this news.
NDTV says RInfra files Rs 10K cr defamation suit on Rafael deal coverage
News broadcaster NDTV Friday said Reliance Infrastructure has filed a defamation suit in an Ahmedabad court, seeking damages of Rs 10,000 crore. The company on October 18 received a notice from Ahmedabad City Civil Court with regard to a suit for defamation instituted by Reliance Infrastructure Ltd & others, against the company, executive co-chairperson and managing editor of the company, claiming damages of Rs 10,000 crore, the New Delhi Television Ltd (NDTV) said in a regulatory filing. The media company will contest the matter in the court, it said in the filing. "The suit for defamation has been instituted on account of the company's weekly show 'Truth vs Hype' wherein the story -- 'The Ideal Partner in Rafael Deal' was broadcasted on the channel NDTV 24X7, on September 29, 2018," the filing said. NDTV said it outrightly rejects any charges of defamation and will present relevant material to the court to contest the matter, which is listed for hearing on October 26, ...
Honeywell profit beats on strong aero, warehouse automation sales
(Reuters) - Honeywell International Inc beat expectations for third-quarter profit on Friday and lifted its full-year forecasts for cash flow and margins as it rode a boom in e-commerce driven warehouse investment and aircraft production.
Slower orders for Atlas Copco spooks industry rivals too
STOCKHOLM (Reuters) - Sweden's Atlas Copco reported lower than expected third-quarter orders on Friday and forecast softer demand for the remainder of the year, sending shares in the industrial equipment maker tumbling.
NBFC stocks continue free fall, tank up to 18.5% on liquidity concerns
NBFC stocks continued to slump, dropping up to 18.5 per cent Friday, on liquidity concerns even as the Reserve Bank announced more measures to increase liquidity flows to the non-banking financial companies. Shares of PNB Housing Finance dived 18.55 per cent, Indiabulls Housing Finance plunged 17.06 per cent, DHFL slumped 10.37 per cent, Mahindra & Mahindra Financial Services fell by 3.20 per cent, Ujjivan Financial Services declined by 0.82 per cent and Shriram Transport Finance softened by 0.21 per cent on the BSE. Shares of non-banking financial companies (NBFCs) had seen massive selling pressure Wednesday also. Stock markets were closed Thursday for Dussehra. The RBI permitted banks to use the government securities equal to their incremental outstanding credit to the NBFCs, over and above their outstanding credit to them as on October 19, to be used to meet liquidity coverage ratio requirements. The move will help provide liquidity to housing finance companies (HFCs) and ...
Global Markets: Investors sell Italian bonds, bank shares as EU warns on Italy budget
LONDON (Reuters) - Investors shed Italian bonds on Friday, driving their yields to 4-year highs while the euro fell to a 2-month low as the European Union called Rome's draft budget an "unprecedented" breach of EU fiscal rules.
ICICI Securities consolidated net profit rises 3.22% in the September 2018 quarter
Sales rise 0.62% to Rs 458.10 crore
ICICI Securities standalone net profit rises 2.35% in the September 2018 quarter
Sales rise 0.55% to Rs 457.81 crore
VTM standalone net profit rises 76.23% in the September 2018 quarter
Sales rise 4.82% to Rs 42.01 crore
Bombay Wire Ropes reports standalone net profit of Rs 0.02 crore in the September 2018 quarter
Reported sales nil
Yes Bank shares continue to fall, slump 6% as RBI refuses more time to Kapoor
Shares of Yes Bank fell by 6 per cent Friday after the Reserve Bank refused to grant more time to its long serving CEO and MD Rana Kapoor and asked the private sector lender to appoint his successor latest by February 1, 2019. The scrip dropped 6.06 per cent to settle at Rs 217.70 on the BSE. During the day, it slumped 8 per cent to Rs 213.10. The stock was the worst hit among the 30-Sensex blue chips. On the NSE, shares of the company tanked 5.41 per cent to close at Rs 219.35. In terms of equity volume, 41.17 lakh shares of the company were traded on the BSE and over 5 crore shares changed hands on the NSE during the day. Shares of Yes Bank had faced huge selling pressure Wednesday also, plunging nearly 7 per cent. Stock markets were closed Thursday for Dussehra. "The Reserve Bank of India has reaffirmed that a successor to Shri Rana Kapoor, MD & CEO, YES Bank should be appointed by February 1, 2019," the lender had said in a stock exchange filing. The RBI had earlier curtailed .