Page 2301 - Business Finance
Bayer lifted by likely new trial in $250 mln weedkiller case
SAN FRANCISCO/FRANKFURT (Reuters) - The prospect of a fresh trial that could overturn $250 million damages against Bayer's Monsanto unit lifted the German company's shares, after an August ruling that it failed to warn users of the alleged cancer risks of its weedkillers.
Gold gains as stock sell-off revives safe-haven appeal
BENGALURU (Reuters) - Gold prices rose on Thursday as a sell-off in global stock markets prompted investors to seek safety in the metal, with a softer dollar further supporting bullion.
Mounting costs add to worries about 2019 U.S. profit growth
NEW YORK (Reuters) - Rising costs for companies are worrying investors already concerned about a step down in U.S. corporate profit growth next year as Wall Street's focus turns away from 2018's tax-fueled earnings boost.
Samsung unveils Galaxy A9 to tap into mid-premium smartphone market
South Korean electronics major Samsung Thursday unveiled its latest Galaxy A9 smartphone to strengthen its play in the global mid-premium phone market. The Galaxy A9, which is the world's first device to feature quad-camera setup in a smartphone, is likely to be introduced in the Indian market in November. The pricing is also expected to be announced closer to the launch date. Samsung Electronics President and CEO (IT and Mobile Communications Division) DJ Koh said the company is excited about the "debut" of the new smartphone camera technology with the Galaxy A9. "As a global leader in smartphone innovation, we understand the demand for meaningful innovation in a fast-paced world driven by visual communication," he said. Building on our legacy in smartphone camera development, we're introducing next generation technology across our entire Galaxy portfolio to give more consumers the opportunity to experience cutting edge, he added. Samsung had recently launched its Galaxy A7 at Rs ...
Foxconn's September revenue jumps, buoys hopes for solid sales at Apple
TAIPEI (Reuters) - Taiwan's Foxconn, a key Apple Inc supplier, reported a 30 percent jump in September revenue on Thursday, boosting expectations for solid product sales for the American tech giant even as U.S.-China trade war escalates.
Vietnam seeks to reduce reliance on Asian rice markets, raise exports to Africa, Americas
HANOI (Reuters) - Vietnam is seeking to reduce its reliance on Asian rice markets while boosting the output of high-quality grain to better position itself in the global market, the government said on Thursday.
Micro tag maker Recoveri enters India with USD 10 million investment
South Africa-based micro tag maker Recoveri on Thursday announced entry in India with investment of USD 10 million by next year. The company is mainly targeting automobile segment for tagging four and two-wheelers with microdots -- 1 millimetre square grain size dots which carry unique number code linked to chasis of vehicle -- Recoveri CEO Philip Opperman told reporters here. The company sprays 15,000 microdots on critical components inside vehicle which can be traced with help of an ultra-violet torch and the number can be read with the help of a magnifier. "We have earmarked overall investment of USD 10 million which will be done in India over a period of next one year. Major part of it will be used in setting up a microdot production factory in Manesar (Haryana)," Opperman said. The company has partnered with Delhi-based firm Falcon to market its product in the country. "We have had discussion with automotive component makers body ACMA for a pilot project that will commence in a ..
CSS Corp named "leader" in NelsonHall's NEAT Research on Digital Customer Experience
CSS Corp, a new-age IT services and technology support company, announced today that it has been named as a "leader" in NelsonHall's NEAT vendor evaluation for Digital Customer Experience. NelsonHall is a leading independent global analyst firm for the business and IT services industry. The study evaluated 26 top vendors on their ability to drive revenue generation for their customers through the adoption of digital technologies.The study underscored CSS Corp's focus on driving revenue generation for customers through the contextual adoption of emerging technologies like AI, analytics and automation. CSS Corp has been offering CX management services for some of the world's most recognized brands and helping them create more engaging CX, drive enhanced revenue generation per user (ARPU), and increase predictability in business operations.The company is betting big on its cognitive platform, Yodaa, to bolster its customer experience strategy. Yodaa is an integral part of CSS Corp's ...
FIRST Construction Council to Pitch for the USD170 bn EPO opportunity at India Construction Festival
More than 200 leading construction companies from 10 countries, including Germany, USA, China, and Canada, will come together to discuss the USD 170 billion Engineering Process Outsourcing opportunity at India Construction Festival on October 24-25 in New Delhi. The mega festival is supported by Ministry of Commerce, Engineering Export Promotion Council, US India Business Council, Builder's Association of India, and National Highway Builder Federation.Chiefs of global engineering companies like Bechtel, Jacobs, AECOM, Mott, McDonald, Hochtief, Black & Veatch shall be participating in the event with Suresh Prabhu, the Union Minister of Commerce, India, addressing the audience as a chief guest. The Festival is being organised by FIRST Construction Council (FCC), in association with Construction World and Engineering News-Record (ENR)-the New York-based world's oldest and largest circulated construction and engineering magazine."The presence of these companies could offer us the ...
Markets in India to gain in future despite global meltdown
Amidst a stable Indian stock markets outlook, the developments in the United States are affecting the markets across the world, said a top Finance Ministry official on Thursday."The US companies fear their competitiveness to be hit due to the US-China tariff war," the Finance Ministry official said while elaborating on the higher rates that are affecting the profitability of the US companies, thereby impacting US markets.The ministry official added that India stands to gain in the future despite the global meltdown. "Indian equity market down only 2.5 percent today, which makes the markets reasonably stable," he added.He added that the International Monetary Fund (IMF) has downgraded the Gross Domestic Product (GDP) projections of the US and China.However, the IMF on Wednesday said that risks to the global financial system have risen over the past six months and could increase sharply if pressures in emerging markets escalate or global trade relations deteriorate further.Talking about
Nifty, Sensex plunge two percent to six-month lows amid global meltdown
(Reuters) - Indian shares plunged more than 2 pct on Thursday, at their lowest closing levels since April, mirroring the markets rout across the globe amid rising trade concerns and expectation of rate hikes in the United States.
Sensex crashes over 750 pts; Nifty ends below 10,300 on global rout
The BSE Sensex slumped over 750 points to end at a six-month low and the Nifty ended below the 10,300 mark Thursday as global indices witnessed across-the-board losses after investor sentiment was hit by heavy sell-off in world markets. Continuous outflows by foreign funds also added to investor woes. The BSE Sensex which commenced with a gap down opening, cracked over 1,000 points, breaching the 34,000-mark and hit a low of 33,723.53, before staging a partial recovery to touch a high of 34,325.09 in afternoon trade. The gauge finally ended 759.74 points, or 2.19 per cent, lower at 34,001.15. This is the lowest closing since April 11. It had gained 461.42 points Wednesday. The NSE Nifty settled at 10,234.65, down 225.45 points, or 2.16 per cent. It moved between 10,138.60 and 10,335.95 in day trade. "The market sell-off is part of the global sell off triggered by the sharp cut in the mother market US," said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services. "The
Shares crash as global rout sparks sell-off
The market crashed amid broad based selloff after Wall Street's worst losses in eight months triggered a surge of global selling that knocked over Asia too. The barometer index, the S&P BSE Sensex, fell 759.74 points or 2.19% to 34,001.15, as per the provisional closing data. The Nifty 50 index fell 225.45 points or 2.16% to 10,234.65, as per the provisional closing data.
IL&FS default shows ABS servicer continuity risk: Fitch
Recent defaults by Infrastructure Leasing and Financial Services (IL&FS) have highlighted the continuity risks of the country's asset-backed security (ABS) servicers, Fitch said in its report Thursday. It further said the failure of IL&FS has significantly undermined market sentiment towards the the country's non-bank financial institution (NBFI) sector and their ABS issuance. Transaction flow has stalled and there is a rise in yields on the securitisation notes of NBFIs, it added. IL&FS and its subsidiaries are facing liquidity crisis and have defaulted on several debt repayments recently. According to the rating agency, IL&FS was not itself a counterparty to any internationally rated ABS notes, but NBFIs act as the originators and servicers for most Indian ABS transactions. "Prolonged and severe stress of a transaction's servicer can disrupt collections on the underlying assets, undermining liquidity," the report said. The rating agency's rated ABS ...
Huawei group adds new India-specific features to its phones
China-based Huawei consumer business groupThursday announced the launch of EMUI 9.0, an intuitiveinterface for its mobile phones, with several features. "The aim of unveiling the EMUI 9.0 is to create an enjoyable, consistent experience," senior product director of the company Brody Ji told PTI here Huawei has introduced India-specific features in the interface such as 28 language support system and design of local calendar, product expert of the firm Anupam Yadav said. Claiming there were 350 million Huawei users worldwide across 129 countries, Yadav said China and Europe were the biggest markets while India remained the most focused market. "Our R&D centres are here. Already, we have a huge research and development centre in Bengaluru, which is the second biggest facility after China," he said. "We have a manufacturing unit in Chennai where we make our own phones," he added.
Lenovo reclaims top spot in global PC market
Lenovo acquired a major chunk of the PC industry in the third quarter of 2018 as per latest estimates by both IDC and Gartner.Worldwide PC shipments totaled 67.2 million units in the third quarter of 2018, where Lenovo secured 24 per cent of the global market share. Following close second is HP with close to 22 per cent share, followed by Dell at 17 per cent.According to Gartner, the PC shipments witnessed flat growth in the Q3, 2018. The firm noted that the shipments increased by 0.1 per cent y-o-y, while IDC noticed a slip of 0.9 per cent.However, in the US market alone, HP reigns the list with 30 percent market share with Dell and Lenovo following up at 25.9 per cent and 15 per cent.The top five companies in terms of Q3, 2018 market share are Lenovo, HP, Dell, Acer Group, and Apple. For Gartner, top vendors in the US are HP, Dell, Lenovo, Apple, and Microsoft.
BMW to spend $4.2 bn for majority stake in China project
German automobile manufacturer BMW is set to acquire majority stake in its joint venture in China, BMW Brilliance Automotive, by spending $4.2 billion, according to a statement by the group on Thursday.
Pak's anti-graft body summons US envoy in corruption case
Pakistan's anti-graft body has summoned the country's envoy to the US Ali Jahangir Siddiqui to question him for allegedly paying Rs 15 crore in bribe to a top government official to get the plum diplomatic post, a senior official said Thursday. Ambassador Siddiqui has been issued a notice to appear before the National Accountability Bureau (NAB) on October 19. "The National Accountability Bureau (NAB) Lahore has summoned Siddiqui for October 19 after a transaction of Rs 15 crore between him and former principal secretary to prime minister Fawad Hasan Fawad has surfaced," a senior official of the anti-corruption watchdog told PTI. He said an investigation into Fawad's income beyond means case revealed that Siddiqui had paid him Rs 15 crore in bribe to get approval from former Prime Minister Shahid Khaqan Abbasi for his (Siddiqui) appointment as ambassador to the US. "The NAB has summoned Siddiqui to quiz him on October 19 at its Lahore office in relation to the charges that he ...
PSU oil & gas stocks gain
Shares of six state-run oil and gas firms rose 0.09% to 13.04% at 15:11 IST on BSE as global crude oil prices declined.
Chinese stocks sink to lowest levels since 2014
Chinese stock markets plunged to their lowest levels in four years on Thursday following a global rout, with shares in around 1,000 firms falling to their daily limit of 10 per cent. Shanghai fell 5.22 per cent, or 142.38 points, to 2,583.46, marking the lowest level since November 2014. The Shenzhen Composite Index, which tracks stocks on China's second exchange, plummeted 6.45 per cent, or 89.15 points, to 1,293.90 -- its lowest point since September 2014. "Chinese market already suffered a blow in confidence after Monday and investors were in a very sensitive state of mind," said Zhang Yanbing, analyst with Zheshang Securities. "So they panicked and overacted today." It is the second plunge this week for the Chinese mainland market after both Shanghai and Shenzhen saw a drop of nearly four per cent on Monday. Other Asian markets also plunged Thursday following the worst session on Wall Street for months after US President Donald Trump said the Federal Reserve had "gone crazy" with .