Page 2236 - Business Finance

Oil slips below $80 on rising U.S. stockpiles

LONDON (Reuters) - Oil slipped below $80 a barrel 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.

Philippines' San Miguel halves food unit's share sale to $920 mln

MANILA/SINGAPORE (Reuters) - Philippine conglomerate San Miguel Corp slashed the size of its food unit's share sale by almost half to $920 million, as a weak stock market thwarted what could have been the nation's biggest ever secondary offering.

Gold steady as firmer dollar offsets fall in stocks

BENGALURU (Reuters) - Gold prices held steady on Thursday as a fall in Asian shares was offset by a stronger dollar, which firmed after minutes of the Federal Reserve's September meeting reinforced expectations of a tighter U.S. monetary policy.

China's top bank ICBC signs financing deals with 100 private firms: source

BEIJING (Reuters) - China's largest commercial lender, Industrial and Commercial Bank of China (ICBC), has signed agreements with 100 private companies pledging more financing support, according to a source with direct knowledge of the matter.

Corrected: Uber enters trailer leasing business

(Reuters) - Uber Technologies Inc said on Wednesday it is entering the trailer leasing business.

Slump in food shopping drags down UK retail sales

LONDON (Reuters) - A free-spending summer by British consumers came to an abrupt end last month with the biggest fall in sales in six months, raising questions about one of the main drivers of the economy ahead of Brexit, official figures showed.

'Enough excuses!' France's Le Maire grows impatient over GAFA tax

PARIS (Reuters) - Europe has talked long enough about whether to make internet giants like Google, Apple and Facebook pay more taxes and it is time for a decision, French Finance Minister Bruno Le Maire said on Thursday.

China regulator asks creditors to avoid forced margin calls on environmental firm's shares

BEIJING/SHANGHAI (Reuters) - A branch of China's securities regulator has asked creditors of a Beijing-based environmental firm not to force margin calls on pledged stocks they hold of the company, underscoring official concern over margin lending risks and their impact on financial markets.

Global Markets: Dollar stands tall, stocks fall after hawkish Fed minutes

LONDON (Reuters) - The dollar rose to a one-week high on Thursday and stocks edged lower after signs that the Federal Reserve will keep raising interest rates through 2019 undermined a bounce in world markets.

OYO forays into Indonesia; targets 30 hotels, 1,000 plus rooms in 3 cities

OYO will be working towards transforming Indonesia's hospitality industry by leasing, franchising assets and renovating them into beautiful living spaces

Pernod Ricard cautions of slower growth after stellar quarter

PARIS (Reuters) - Demand in China and India powered a 10.4 percent rise in quarterly sales for France's Pernod Ricard, helping the maker of Absolut vodka and Martell cognac offset slower progress in its main U.S. market.

Gold rises by Rs 195 on festive demand

Gold prices rose by Rs 195 to Rs 32,225 per 10 grams Thursday on increased buying by local jewellers to meet festive season demand. Silver followed suit and recovered by Rs 20 to Rs 39,500 per kg due to increased offtake from industrial units and coin makers. Traders attributed the rise in gold prices to increased buying by local jewellers, driven by ongoing festive season. Besides, weakness in the rupee, making imports costlier, also fuelled the upward trend in gold prices. Prices of the yellow metal had declined by Rs 150 to Rs 32,030 per 10 grams Wednesday. Globally, gold traded steady at USD 1,222.60 an ounce and silver was down 0.69 per cent at USD 14.58 an ounce in New York Thursday. In the national capital, gold of 99.9 per cent and 99.5 per cent purity rose further by Rs 195 each to Rs 32,225 and Rs 32,075 per 10 grams, respectively. Sovereign gold, continued to be traded at previous level of Rs 24,700 per piece of eight grams. Following the rise in gold, silver-ready spurted .

Intellect Global Transaction, Bolero International ink pact

: Intellect Global Transaction Banking, a division of Intellect Design Arena Limited, Thursday said it has signed a pact with Bolero International to explore opportunities in commercial trade and supply chain finance business propositions. The partnership would help eliminate inefficiency in trade transactions, city-based Intellect Design Arena said in a statement here. "Our focus is on revenue growth, improvement in returns on equity and cost income ratios, while developing tools to help banks deal with risk and compliance issues..." the statement quoted chief executive officer of Intellect Global Transaction Banking Manish Maakan as saying. "Our tie-up with Bolero International will capitalise on its expertise in trade digitisation to help reduce operational risk in an industry dominated by inefficiency", he said in the release. Both firms were looking for development in digitally-led commercial trade and supply chain finance business propositions, the release ...

China's JD.com unwraps FedEx-style parcel business to bolster sales

BEIJING/SHANGHAI (Reuters) - Chinese e-commerce firm JD.com Inc said on Thursday it would add a FedEx-style parcel delivery service to its e-commerce offerings, a move which could help the firm leverage its network of warehouses and drivers to bolster flagging profits.

Oil companies cut petrol, diesel prices

Petrol and diesel prices Thursday were reduced for the first time in over two months because of a drop in the cost of production, according to state-owned oil firms. Petrol price was cut by 21 paise per litre and diesel by 11 paise, a price notification issued by state retailers said. This is the first price cut arising from a drop in international oil prices. The rates were reduced by a minimum Rs 2.50 per litre across the country on October 5, when the government cut excise duty on petrol and diesel by Rs 1.50 a litre and asked oil PSUs to subsidise the fuels by another Re 1 a litre. The reduction in BJP-ruled states was more as they matched this cut by an equivalent reduction in local sales tax or VAT. Petrol in Delhi now costs Rs 82.62 per litre as against Rs 82.83 a litre previously. A litre of diesel now costs Rs 75.58 as compared to Rs 75.69 previously. In Mumbai, petrol now costs Rs 88.08 per litre and diesel Rs 79.24. The price cut follows international oil prices trading ...

Linde-Praxair merger set to win U.S. FTC clearance: Manager Magazin

FRANKFURT (Reuters) - Industrial gases group Praxair and Linde are set to win U.S. antitrust approval for their planned $86 billion merger, clearing the last major hurdle for the deal, German monthly Manager Magazin reported.

Firms in central Japan largely unscathed by trade friction: BOJ

TOKYO (Reuters) - Manufacturers in the Tokai central Japan region continue to receive brisk overseas orders despite rising fears of protectionism, a senior Bank of Japan official said on Thursday.

Mideast ride-hailing app Careem raises $200 million to expand, expects more funds

DUBAI (Reuters) - Middle East ride-hailing company Careem said on Thursday it had secured $200 million in fresh funding from existing investors and that it expects to raise more to finance expansion plans.

Departure of Asia chief Martello overshadows Nestle's sales rise

ZURICH (Reuters) - Nestle's highly regarded Asia chief Wan Ling Martello is leaving the world's largest packaged food company, taking the shine off the faster sales growth over the last three months.

Next edition of Snapdeal sale celebrates Dussehra

Snapdeal's Dussehra edition of the Mega Diwali Sale starts from 18th October and will run till 21st October 2018.Seeing the sharp rise in pollution in North India, the Mega Diwali Sale has expanded the collection to offer enhanced discounts on air purifiers, pollution masks, face wash and scrub etc.The sale will offer a special deal on clothing, footwear, and accessories. Another focus of the sale is a range of bags for everyone - from office laptop bags, ladies bags, kids' branded backpacks to party clutches at a huge bargain.It will also have festive season offers on home decor, Diwali gifts, gift cards, dry fruits, ethnic apparel, religious accessories, and cleaning equipment.The sale also has a range of must-haves like candle lights, diyas, flower lights, exotic chandeliers, and quirky lamp shades to illuminate the house.Snapdeal has also launched a "Karwa Chauth" store. The special one-stop store has pooja essentials like pooja thalis, vrat kathas, pre-Karwa Chauth grooming kits .