Page 2243 - Business Finance
Italian court grants Astaldi's request for creditor protection-sources
ROME (Reuters) - A court in Rome has accepted a filing by troubled Italian builder Astaldi for protection from creditors, sources familiar with the matter said on Wednesday.
SoftBank lines up $9 billion in loans for Vision Fund from banks - Bloomberg
(Reuters) - Banks, including underwriters of SoftBank Group's initial public offering of its mobile unit, are finalising terms for a $9 billion loan to its Vision Fund, Bloomberg reported on Wednesday, citing people familiar with the matter.
Oil prices slump after large increase in U.S. stocks
NEW YORK (Reuters) - Oil prices fell on Wednesday, with U.S. futures slipping below $70 a barrel for the first time in a month, after U.S. stockpiles rose by 6.5 million barrels, almost triple what analysts had forecast, while exports dropped.
U.S. imposes sanctions on Iraq-based money exchange for Islamic State ties
WASHINGTON (Reuters) - The U.S. Treasury imposed sanctions on Wednesday on an Iraq-based money services business, Afaq Dubai, believed to be moving funds for the Islamic State militant group.
Global Markets: Stocks slide on earnings misgivings; oil off after big U.S. inventory build
NEW YORK (Reuters) - A gauge of stocks across the world edged lower on Wednesday following its largest daily run-up in over two years, as the outlook on earnings soured after a warning on the European auto sector and a revenue miss from IBM.
Exclusive: Casino mogul Fertitta approaches Ceasars about merger - sources
(Reuters) - Tilman Fertitta, the billionaire owner of the Golden Nugget Casinos, has approached U.S. casino operator Caesars Entertainment Corp about merging it with his own gaming empire, people familiar with the matter said on Wednesday.
Reliance buys two cable TV service providers to deepen fibre broadband reach
MUMBAI (Reuters) - Indian oil-to-telecoms conglomerate Reliance Industries Ltd announced on Wednesday it will acquire controlling stakes in two local cable TV and Internet service providers, expediting the rollout of its new fibre broadband service.
Wall Street slips as IBM disappoints; Fed minutes awaited
(Reuters) - U.S. stocks fell on Wednesday, a day after Wall Street's strongest rally in seven months, as investors were disappointed with IBM's results and remained cautious ahead of the minutes of Federal Reserve's latest meeting.
ACC third-quarter profit misses expectations as expenses rise
(Reuters) - Cement maker ACC Ltd on Wednesday posted a 15.7 percent rise in quarterly profit, which fell short of market estimates as expenses rose.
Czech rates may need more gradual rise - central bank's Dedek
PRAGUE (Reuters) - The Czech National Bank may need to take a more gradual approach to raising interest rates while it assesses risks from abroad, and a slower pace would not be threat to meeting its inflation target, board member Oldrich Dedek said in an interview.
German exports to Turkey fell sharply at height of lira crisis
BERLIN (Reuters) - German exports to Turkey slumped in August, data from the Federal Statistics Office showed on Wednesday, reflecting a sharp fall in Turkish purchasing power and domestic demand after the lira collapsed.
Wall Street banks eye technology to combat bond trading weakness
(Reuters) - After another lackluster quarter for bond trading, most Wall Street banks are moving faster to adopt new technology to improve results, but analysts say the winners of the race must grow market share to combat shrinking margins.
Mindtree Q2 net profit jumps 65% to Rs 206 crore
Mid-sized IT firm Mindtree Wednesday posted a 65.4 per cent rise in consolidated net profit at Rs 206.3 crore for the September quarter and exuded confidence of registering strong revenue growth for the full fiscal despite "some challenges in the global business environment". The company had registered a net profit of Rs 124.7 crore in the year-ago period. Its revenues rose 31.8 per cent to Rs 1,755.4 crore in the quarter under review from Rs 1,331.6 crore in the year-ago period. On sequential basis, the net profit was higher by 30.4 per cent, while revenue grew 7.1 per cent. "Our deep expertise across both Digital and Run landscapes are delivering competitive advantage for our clients, while fueling Mindtree's continued growth. By investing in an 'automate-everything' platform-based approach, we are consistently driving larger deals," Mindtree CEO and Managing Director Rostow Ravanan said in a conference call. He added that deal pipeline continues to remain strong with strong ...
Volkswagen launches Passat Connect at Rs 25.99 lakh
German auto major Volkswagen Wednesday launched its premium carline Passat with an advanced telematics solution Connect at a price starting from Rs 25.99 lakh. The Passat is now available with Volkswagen Connect, an intelligent connected vehicle assistance system offering a holistic and connected experience to its customers, Volkswagen said in a statement. The Volkswagen Connect will empower customers to manage a host of services such as driving behaviour analysis, trip tracking, fuel cost monitoring, and other convenient features available on their fingertips, he added. The car comes in two variants with the entry level comfortline priced at Rs 25.99 lakh and top end highline tagged at Rs 28.99 lakh. "The Volkswagen Passat is made for perfectionists filled with path-breaking technologies to make life easier. With the all-new Passat Connect, Volkswagen aims to further transform and enhance the customer driving experience," Volkswagen Passenger Cars Director Steffen Knapp said.
Gulfstream expects market growth in 2019 on new business jets - president
ORLANDO, Fla. (Reuters) - Gulfstream Aerospace expects growth in both sales opportunities and deliveries next year, as the U.S. business jet maker brings two new large-cabin corporate planes to market, company President Mark Burns said on Wednesday.
Nigerian Senate backs Eurobond issue, warns of debt overhang
ABUJA (Reuters) - Nigeria's upper house of parliament approved a planned $2.786 billion Eurobond issue on Wednesday but advised the government to limit foreign borrowing and instead boost revenues.
Gold gains as equities rally wanes, nervous shorts cover
BENGALURU (Reuters) - Gold rose on Wednesday as a rally in global equities ran out of steam, denting the appeal of riskier assets, while bullion investors used recent price dips to cover short positions.
Demanding VAT cut, Delhi petrol pumps to shut on October 22-23
Petrol and diesel dealers in the national capital are in the grip of a crisis following the recent excise duty cuts made by the Centre and many states leading to losses here ranging 20-30 per cent, the Delhi Petrol Dealers Association (DPDA) said on Wednesday.
IndiGo launches Bengaluru-Hong Kong flights from Dec
Budget carrier IndiGo Wednesday announced the launch of its services to Hong Kong form Bengaluru, starting December. The bookings for the new flights have already begun with promotional fares starting at Rs 11,499, the airline said in a release. IndiGo will operate a daily non-stop flight between Bengaluru and Hong Kong, which will be airline's 15th international destination, from December 11, it said. As part of its international expansion, the airline also operates daily non-stop flights from India to Colombo, Kuwait, Abu Dhabi, Kuala Lumpur, Male and Phuket, it said. "One of the worlds biggest financial hubs, Hong Kong constitutes a strategic market for us. We see huge tourism potential in future from India," William Boulter, chief commercial officer, IndiGo said. The airline will continue to expand its network to meet the requirements of both business and leisure travellers as per the demand, he said. The Gurugram-headquartered airline currently flies to 48 domestic .
India-OPEC discuss on surging oil prices
The Organization of the Petroleum Exporting Countries (OPEC) secretary general Sanusi Barkindo and Union Minister of Petroleum and Natural Gas Dharmendra Pradhan held a meeting on Wednesday to discuss the surging crude oil prices at the third India-OPEC Energy Dialogue here.At the meeting, both sides sought responsible pricing in the best interests of producers and consumers.Expressing his optimism, Pradhan said he is certain that Secretary Barkindo will put India's point of view in the producer's group. "This is a continuous dialogue between OPEC and India. We are all concerned about the stability of the market and will look into the interest of the common citizen of the world. 32 per cent of crude oil is produced by OPEC and its allied countries. And I assure you that OPEC is our best custodian after Barkindo took charge. I am assured that Barkindo will put forth our point of view to the producer's group."Pradhan also expressed concern about global trade practices limiting the ...