Page 2233 - Business Finance
ECB's Draghi: undermining EU budget rules carries high price for all
BRUSSELS (Reuters) - There is no evidence that undermining the European Union's budget limits on borrowing leads to prosperity, but it is clear that such actions are costly for all in the single currency area, the head of the European Central Bank said on Thursday.
Wall Street hit by weak industrial earnings, hawkish Fed
(Reuters) - U.S. stocks fell on Thursday as weak earnings reports from industrials raised worries about rising expenses and the impact of tariffs, adding to concerns over higher borrowing costs after hawkish commentary in the Federal Reserve's minutes.
Oil dips but pares losses with Wall Street bounce
HOUSTON (Reuters) - Oil prices pared losses on Thursday as U.S. stocks bounced off session lows and a report showed a smaller-than-expected build in crude inventory levels at the U.S. oil storage hub Cushing.
Coca-Cola names company veteran Brian Smith chief operating officer
(Reuters) - Coca-Cola Co on Thursday appointed company veteran Brian Smith as its chief operating officer, a role that has been vacant since former COO James Quincey became chief executive officer last year.
Nasdaq Commodities quits oil contracts, to list new products in France and Germany
OSLO (Reuters) - The Nasdaq Commodities exchange will delist its remaining fuel oil contracts that are expiring in 2019 and launch a new natural gas monthly future contract in France and options for the German only electricity market in November, it said on Thursday.
U.S. weekly jobless claims data bolsters labor market outlook
WASHINGTON (Reuters) - New applications for U.S. unemployment benefits dropped last week and the number of Americans on jobless rolls fell back to levels last seen in 1973, suggesting a further tightening in labor market conditions.
Flipkart, Amazon claim record online festive sales
India's leading e-tailer Flipkart and its American rival Amazon on Thursday claimed record online sales ahead of Dusshera and Diwali festivals.
Consumer confidence falls on weak economy
High fuel prices, global trade tensions and bleak job scenario pulled down Consumer Confidence by 6.6 percentage points in October over the last month, a Thomson Reuters-Ipsos PCSI Survey said on Thursday.
Efforts to be made to take proposed steel plant in AP to logical end: Centre
A high-powered team is working to develop a plan and prepare a technical report for the proposed steel plant at Kadapa in Andhra Pradesh, the Steel Ministry said Thursday. The ministry said that a review was held last week for preparation of a feasibility report for the steel plant in YSR district as envisaged under the Andhra Pradesh Reorganisation Act, 2014. It, however, pointed out that the ministry was still awaiting key data related to iron ore leases from the state government which was essential to finalisation of feasibility report. "In the discussion it was stressed that steel plant in YSR Kadapa District of Andhra Pradesh is a very important project for the overall development of that region and all efforts should be made to take the project to its logical end," the ministry said in a release. A high-powered task force comprising representatives from centre and state governments, SAIL, RINL, NMDC, MECON and MSTC is working to evolve a plan and prepare a technical report, the .
Brazil court denies Monsanto bid to halt seed licensing to bankrupt firm
SAO PAULO (Reuters) - A Brazilian appeals court denied a request this month by Monsanto's local unit to suspend licensing of its popular Intacta soy seed technology to privately owned seed maker Sementes Talismã, according to a ruling seen by Reuters.
SAP plays down margin fears, prioritises growth: CFO
WALLDORF, Germany (Reuters) - Faster than expected growth in its cloud business has pressured margins at German business software company SAP, but for Chief Financial Officer Luka Mucic that's a good problem to have.
ONGC says finances are sound; no issues with salary payments
State-owned Oil and Natural Gas Corp (ONGC) Thursday said its finances are as sound as ever and is generating enough revenues to meet all its capital and operating expenditures as well as any additional merit-based requirement. Debunking reports of the company had to avail overdraft facility to pay salaries to its employees, ONGC Director (Finance) Subhash Kumar said ONGC continues to be on a "sound financial position" and is meeting all of its Rs 32,077 crore budgeted expenditure for 2018-19 fiscal year. "These claims in some quarters of the company being unable to pay salary to its employees are completely untrue and based on a misinformation campaign," he said. "Even in low oil prices, we were able to discharge all our obligations. And now prices (that ONGC gets for oil and gas it produces) are certainly much better and so there is no question of any default on any count." The company, which has an annual revenue of about Rs 85,000 crore, has enough resources to meet its capital ...
Iraq transfers ownership of nine state oil companies to new National Oil Company
ERBIL, Iraq (Reuters) - Iraqi Oil Minister Jabar al-Luaibi has issued a decree transferring the ownership of nine state-owned oil companies, including state oil marketer SOMO, from the oil ministry to the newly-formed National Oil Company which he also heads, a ministry spokesman said on Thursday.
Pricing boost helps Philip Morris quarterly results to beat estimates
LONDON (Reuters) - Philip Morris International, maker of Marlboro cigarettes, maintained its full-year guidance on Thursday after higher pricing helped it to report better than expected quarterly sales and profit.
Trump has named 'standard, traditional' thinkers to Fed - Bullard
MEMPHIS, Tenn. (Reuters) - U.S. President Donald Trump has appointed "standard, traditional" central bankers to the Federal Reserve despite being harshly critical of its monetary policy, St. Louis Fed President James Bullard said on Thursday.
Borrowing costs could rise for indebted US blue chip companies
NEW YORK (LPC) - US blue chip companies that have been racking up record debt to fund strategic acquisitions and share buybacks could face higher borrowing costs as they are vulnerable to being downgraded to junk status in the next economic slump.
Wall Street drops after weak industrial earnings, hawkish Fed
(Reuters) - U.S. stocks fell on Thursday as weak earnings reports from industrials raised worries over rising expenses and the impact of tariffs, adding to concerns of higher borrowing costs after hawkish commentary in the Federal Reserve's minutes.
Iraq transfers ownership of 9 state oil companies to new National Oil Company - spokesman
ERBIL, Iraq (Reuters) - Iraqi Oil Minister Jabar al-Luaibi issued a decree transferring the ownership of nine state-owned oil companies from the oil ministry to the newly-formed National Oil Company which he also heads, a ministry spokesman said on Thursday.
Investec asset management buys stake in South African school firm
JOHANNESBURG (Reuters) - Investec Asset Management, a subsidiary of Investec, has bought in a firm that runs private colleges in South Africa, it said on Thursday, tapping into a fast-paced expansion in education businesses.
Oil falls below $79 as rising U.S. stockpiles weigh
LONDON (Reuters) - Oil fell more than $1 a barrel to below $79 on Thursday as the fourth weekly increase in U.S. crude inventories suggested ample supply, while Saudi-U.S. tension and falling Iranian exports lent support.