Page 2287 - Business Finance

JPMorgan profit rises 24.5 percent, helped by higher interest rates

(Reuters) - JPMorgan Chase & Co reported a 24.5 percent jump in quarterly profit as higher interest rates and gains from tax cuts helped offset weakness in bond trading revenue.

Oil edges further above $80 but weaker demand view weighs

LONDON (Reuters) - Oil edged further above $80 a barrel on Friday as a rally in equities lent support, though prices pared most of their gain after a closely watched forecaster deemed supply adequate and the outlook for demand weakening.

Unwelcome guest: U.S. tariffs loom at China's biggest trade fair

BEIJING (Reuters) - Amid gathering gloom over the state of the Chinese economy, exporters of motorcycles, tractors, photocopiers and Christmas tree lighting will join thousands of other companies peddling their wares at China's largest trade fair Monday.

'Winter is coming': Indonesia warns world finance leaders over trade war

NUSA DUA, Indonesia (Reuters) - Just in case any of the global central bankers and finance ministers gathered in Indonesia missed the message delivered repeatedly this week, the host nation said it again on Friday; everyone stands to lose if trade wars are allowed to escalate.

World oil market 'adequately supplied for now' - IEA

LONDON (Reuters) - Oil markets look "adequately supplied for now" after a big production increase in the last six months, but the industry is coming under strain, the West's energy watchdog said on Friday.

3i Infotech consolidated net profit declines 45.19% in the September 2018 quarter

Sales rise 16.40% to Rs 273.63 crore

Tata Sponge Iron consolidated net profit rises 0.04% in the September 2018 quarter

Sales rise 29.33% to Rs 216.21 crore

3i Infotech reports standalone net profit of Rs 78.61 crore in the September 2018 quarter

Sales rise 31.10% to Rs 75.67 crore

Tata Sponge Iron standalone net profit rises 0.04% in the September 2018 quarter

Sales rise 29.33% to Rs 216.21 crore

Danske Bank begins scaling back scandal-hit Estonian branch

COPENHAGEN/TALLINN (Reuters) - Danske Bank said on Friday it has begun closing down parts of its Estonian business, which has been at the centre of an investigation into alleged money laundering.

Nifty, Sensex surge over 2 percent, most since May 2016

(Reuters) - Indian shares jumped over 2 percent on Friday, the most since late May 2016, with a stronger rupee and an overnight fall in crude prices bringing some relief after the previous session's sharp sell-off.

TCS shares end over 3 pc lower post Q2 earnings

Shares of TCS Friday ended over 3 per cent lower even as the company reported a 22.6 per cent jump in consolidated net profit for the July-September quarter. The stock ended at Rs 1,918.40, a fall of 3.10 per cent on BSE. During the day, it dropped 3.78 per cent to Rs 1,904.80. At NSE, shares of the company declined 3 per cent to settle at Rs 1,920. The stock was the worst hit among the blue chips on both the key indices during the day. In terms of equity volume, 6.50 lakh shares of the company were traded on BSE and over 93 lakh shares changed hands at NSE during the trade. The bluechip scrip fell for the third consecutive session Friday, plunging over 8 per cent and wiping out Rs 64,578.52 crore from its market valuation to Rs 7,19,857.48 crore on BSE. The country's largest software exporter Thursday reported a 22.6 per cent jump in consolidated net profit at Rs 7,901 crore in the July-September quarter, buoyed by strong demand for digital services. Tata Consultancy Services (TCS) ..

Cash logistics management firms form SRO to ensure compliance

Nine leading cash logistics management companies in the country, accounting for around 90 per cent of the market share, have come together to form a self-regulatory organisation (SRO) to ensure compliance, look into risk mitigation and regulate the functioning of firms. The SRO named Currency Cycle Association (CCA) has been formed by Cash Management Solutions, Securitrans India, SIS Prosegur, SISCO, Writer Safeguard, Brink's, Securevalue India, Radiant Cash Management Services and Logicash Solutions, according to CCA president Anush Raghavan. The formation of SRO comes after the Reserve Bank of India (RBI) in April issued standards for cash management activities of banks and for service provider or sub-contractors engaged by the banks for this purpose. "CCA will greatly enhance driving guidelines outlined by the RBI, mitigating risks that are inherent for this industry," CCA chief executive officer and former executive director of RBI, US Paliwal, said. CCA will aim to .

Bandhan Bank gets regulatory relief to bring down promoter stake

(Reuters) - India's Bandhan Bank Ltd said on Friday the country's securities regulator exempted it from a restriction on promoters selling shares for one year after listing.

China auto sales post biggest drop in 7 years as growth engine stalls

BEIJING (Reuters) - China's car sales fell the most in nearly seven years in September, stoking concerns the world's biggest auto market could contract for the first time in decades this year amid cooling economic growth and a biting trade war.

Hindustan Unilever second-quarter profit jumps nearly 20 pct, beats estimates

(Reuters) - India's consumer major Hindustan Unilever Ltd reported a 19.5 percent rise in its September-quarter profit, beating analysts' estimates, as sales at its home-care segment jumped.

HUL Q2 net rises 19.51 pc to Rs 1,525 cr

FMCG major Hindustan Unilever Ltd (HUL) Friday reported a 19.51 per cent increase in net profit to Rs 1,525 crore for the quarter ended September 30, 2018. The company had posted a net profit of Rs 1,276 crore during the same period of the previous fiscal. Sales during the quarter under review stood at Rs 9,138 crore as against Rs 8,199 crore in the year-ago period, up 11.45 per cent, HUL said in a regulatory filing. The company's board has declared an interim dividend of Rs 9 per share of face value Re 1 each for the financial year ending March 31, 2019. Shares of HUL settled 2.63 per cent higher at Rs 1,568.65 apiece on the BSE.

Sensex rallies most in 19 months, Nifty ends above 10,450

Driven by fall in crude prices and the recovery in rupee, the BSE Sensex Friday posted its biggest single-day gain in 19 months, soaring over 700 points as global markets rebounded after two straight sessions of losses. The rupee strengthened 53 paise to 73.59 (intra-day) against the US dollar in the forex market. Both indices ended the week higher for the first time in six weeks. During the period the Sensex climbed 366.59 points and Nifty rose 156.05 points. After opening on strong footing, the Sensex advanced to hit a high of 34,808.42 on buying momentum after retail investors returned to the market. It later gave up some of the gains, but still ended notably higher by 732.43 points, or 2.15 per cent, at 34,733.58. The index posted its biggest single-day gain since March 2017. The broader Nifty ended the week at 10,472.50, up 237.85 points, or 2.32 per cent. It touched a high of 10,492.45 points in day trade. Investors lapped up recently-hammered auto, realty, metal, oil and gas, ..

V-Mart Retail opens new fashion store in West Bengal

This takes the total number of stores to 194 Stores in 158 Cities across 15 states, with 37 composite stores & 157 fashion stores.

Central Bank of India to allot 35.43 crore shares to Govt. of India

For capital inclusion of Rs 2354 crore