Page 2266 - Business Finance

China's factory-gate inflation cools for third month, points to slackening demand

BEIJING (Reuters) - China's factory-gate inflation cooled for a third straight month in September amid ebbing domestic demand, pointing to more pressure on the world's second biggest economy as it remains locked in an intensifying trade war with the United States.

Oil, weaker currency sharply lifts New Zealand inflation; central bank seen 'patient'

WELLINGTON (Reuters) - New Zealand's inflation accelerated sharply in the third quarter, driven by higher fuel prices and a weaker currency, though analysts expect the central bank to look past those transitory factors and keep rates low for an extended period.

India's export declines by 2.15%, trade deficit hits 5-month low

India's export figures for the month of September witnessed negative growth of 2.15 per cent compared to the corresponding month last year, clocking figures of USD 27.95 billion.While petroleum products witnessed maximum positive growth (26.76 per cent), least growth was recorded in the 'cotton yarn/handlooms' category (3.56 per cent), as per data published by the Ministry of Commerce and Industry.Cumulative value of exports for the period April-September 2018-19 was USD 164.04 billion as against USD 145.75 billion during the period April-September 2017-18, registering a positive growth of 12.54 per cent.Imports, on the other hand, were USD 41.93 billion in September 2018, which was 10.45 per cent higher than that of last year (USD 37.96 billion). Cumulative value of imports for the period April-September 2018-19 was USD 258.36 billion as against USD 222.42 billion during the period April-September 2017-18, registering a positive growth of 16.16 per cent.Gold import exhibited highest .

IndusInd Bank Q2 net profit up 5%

The IndusInd Bank on Monday reported a 5 per cent increase in net profit for the second quarter (Q2) of 2018-19.

Amazon India say services boosting large appliance sales

MUMBAI (Reuters) - Amazon's investment in an extensive delivery network, and offering installation services and monthly payment plans, helped make large appliances a major category during its annual festive sale, the head of its Indian business said on Monday.

Annual US budget deficit hits USD 779 bn, highest since 2012: US Treasury

The US budget deficit hit USD 779 billion in the fiscal year ending September 30, the highest since 2012 and USD 113 billion more than in the prior year, the Treasury announced Monday. The deficit is equivalent to 3.9 per cent of GDP, up from 3.5 per cent in the 2017 fiscal year, according to the report. Receipts increased slightly, in part due to higher tax payments, especially from individuals, which were offset by "lower net corporation income tax receipts," Treasury said in a statement. Outlays rose USD 127 billion, with the biggest increase from the Treasury Department, largely due to debt servicing costs. Total government borrowing increased by USD 1 trillion in the latest fiscal year to USD 15.75 trillion, including USD 779 billion to finance the deficit. Interest expenses on government debt increased 14 per cent or USD 65 billion due to the higher debt level as well as rising interest rates, a Treasury official told reporters. "Going forward the President's economic policies ..

U.S. federal government posts widest deficit since 2012

WASHINGTON (Reuters) - The U.S. federal government closed the 2018 fiscal year $779 billion in the red as tax cuts hit revenues and the government paid more to service a growing national debt, according to Treasury Department data released on Monday.

Cavalli owner hires Rothschild to find minority partner - sources

MILAN (Reuters) - Private equity Clessidra has hired Rothschild to look into the option of finding a minority partner for fashion group Roberto Cavalli to help fund growth, two sources familiar with the matter said on Monday, confirming earlier press reports.

Dassault will raise production rates on certain models - CEO

ORLANDO, Fla. (Reuters) - French planemaker Dassault Aviation will nudge up production rates on certain business jet models, including its Falcoln 8x and 2000 jets, Chief Executive Eric Trappier said on Monday, a sign of broader industry demand for corporate aircraft.

Accounting firm Grant Thornton's UK chief to step down

(Reuters) - Accounting firm Grant Thornton said its UK chief Sacha Romanovitch will step down by the end of this year once a successor is identified.

Defensive stocks help S&P, Dow eke out gains, offset tech pressure

(Reuters) - A drop in technology stocks on Monday kept pressure on Wall Street and led the Nasdaq lower, but the S&P 500 and Dow Jones Industrial Average eked out slim gains as defensive sectors rose, while traders also pointed to technical support.

NDRF, SDRF not sufficient for natural calamities: GoM

The Group of Ministers (GoM) formed by the GST Council on Monday agreed that funding from the national and state disaster response funds -- NDRF and SDRF -- are not sufficient in case of disasters and a new mechanism to raise funds is required.

Cepsa float fail could jeopardise other energy listings

LONDON (Reuters) - The shelving of Spanish energy company Cepsa's initial public offering (IPO) may damage prospects for a string of oil-related companies planning to go public.

Over 30% of agri funds to empower women farmers: Minister

Union Agriculture Minister Radha Mohan Singh on Monday said the government has allocated over 30 per cent of the farm-related funds to women to empower them and bring them to the agriculture mainstream, and sought appointment of more women in the extension services.

BP criticises price controls, days after India cuts cost of fuel

NEW DELHI (Reuters) - Global oil major BP said on Monday fuel price controls were "not good", days after India asked state-run fuel retailers to shield customers from record-high costs by cutting margins.

Many U.S. mall owners say good riddance to Sears

NEW YORK (Reuters) - The real estate investment trusts that own the malls and shopping centers where many Sears stores are anchor tenants have waited years for the retailer's demise to renovate the sites and boost rent, although redevelopment costs may strain some plans.

Burberry joins luxury sector's race to refresh products monthly

PARIS (Reuters) - Britain's Burberry said on Monday it would start releasing limited edition clothes and products every month, joining a growing number of rivals in the luxury sector trying to churn out collections more frequently to keep clients hooked.

Speed of decision making in India not good for its image: BP executive

The speed of decision making in India is not good for its brand as processes have delayed BP's investment in the country, a top official of the British oil major said Monday. BP Chief Executive Robert Dudley also highlighted that price controls were not good for the oil sector and would not solve problem of high fuel prices in the long term. "There was lot of change in the contracts but comparative competitive ... capital did not get the results as expected. As BP, we want to do large products here not small ones," said Dudley in a question and answer session at India Energy Forum by CERAWeek on Monday. Expressing his concerns about procedures delaying investment in India, he said, "I think the speed of the decision making will be faster in India. The speed of the decision making is not good for brand India. We have to go through processes like this and it probably slows down our investments. I am confident it would be faster. Otherwise we would not be investing such huge ...

Corrected: BP criticises price controls, days after India cuts cost of fuel

(In paragraph 11, corrects figures relating to BP's payment to Reliance Industries)

Sebi fines Hanuman Sugar and 8 entities Rs 21 lakh for disclosure lapses

Markets regulator Sebi Monday imposed a total fine of Rs 21 lakh on Shree Hanuman Sugar and eight other entities for disclosure lapses regarding change in their shareholding in the company. In an order, the regulator fined the entities for violating PIT (Prohibition of Insider Trading) and SAST (Substantial Acquisition of Shares and Takeovers) Regulations. The Securities and Exchange Board of India (Sebi) conducted an examination into shareholding pattern of the entities from March to December, 2014 after it received a complaint. During the examination, Sebi found that the entities had acquired shares of Hanuman Sugar on numerous instances due to which the change in their shareholding was more than 2 per cent and some of the entities had already acquired more than 5 per cent stake in the firm. Under PIT and SAST provisions, an entity which holds more than 5 per cent shares in any listed company is under obligation to make requisite disclosures to the company and exchanges in two ...