Page 2337 - Business Finance
Global Markets: European shares slide on 'powerful cocktail' of China slump, Treasuries and Italy
LONDON (Reuters) - European markets fell heavily on Monday as investor confidence took a knock from last week's spike in Treasury yields and from a Chinese market slump brought on by concerns that an escalating trade war with the United States could dent China's growth.
General Motors China sales go into reverse as market stalls
SHANGHAI (Reuters) - General Motors Co's quarterly sales in China fell for the first time in over a year, hit by faltering economic growth and a wider slowdown in the world's biggest auto market amid a whipsawing trade war with the United States.
FICCI welcomes RBI's decision to keep the repo rate unchanged
"While there is an upside risk to inflation due to oil prices, the recent measures taken by the government including the reduction in excise duties and VAT on fuel should mitigate the inflationary pressure to some extent. We are confident that the government and the RBI will keep a vigil on the volatile global conditions and take appropriate actions to ensure macro-economic stability and enable the country to traverse a firm growth path of 8 per cent plus starting with the current financial year," added Mr Shah.
Boeing appoints India head Pratyush Kumar to lead F-15 programme in US
The Boeing Company on Monday appointed the head of its India operations, Pratyush Kumar, to lead the defence major's F-15 fighter aircraft programme in the United States.
Indian stocks erase losses to trade higher on short covering
Indian stock indices erased opening losses to trade slightly higher in the afternoon session on Monday, as last week's declines prompted investors to cover their short positions.
Mercer invests in talent assessment mkt in India with Mettl acquisition
Global consulting leader Mercer Monday said it has acquired Mettl, an online talent assessment solution provider in India. Established in 2010, Mettl offers multi-lingual assessments conducted via a secure software as a service (SaaS) platform in over 80 countries. Mercer, however, did not disclose the financial details of the transaction. "Online talent assessment is a powerful tool that helps companies unlock the potential of their people," said Mercer India CEO Anish Sarkar. He added that the acquisition will enable companies in India to improve their workforce as they prepare for the future of work amid rapid digitalisation. According to Ilya Bonic, Global President of Mercer's Career line of business, the acquisition marks Mercer's entry into the rapidly-growing global talent assessment market, a company release said. "By leveraging Mercer's global footprint and leadership position, we can sustainably scale our presence and reach, helping companies avoid the cost of suboptimal ...
ITC Ltd drops for fifth straight session
The stock is quoting at Rs 272.15, down 1.57% on the day as on 13:19 IST on the NSE. ITC Ltd jumped 1.55% in last one year as compared to a 3.07% rally in NIFTY and a 9.29% spurt in the Nifty FMCG index.
Bajaj Finserv Ltd drops for fifth straight session
The stock is quoting at Rs 5371.25, down 0.08% on the day as on 13:19 IST on the NSE. Bajaj Finserv Ltd jumped 1.23% in last one year as compared to a 3.07% rally in NIFTY and a 1.55% spurt in the Nifty Financial Services index.
Bosch Ltd slips for fifth straight session
The stock is quoting at Rs 18564.8, down 1.32% on the day as on 13:19 IST on the NSE. Bosch Ltd tumbled 12.75% in last one year as compared to a 3.07% rally in NIFTY and a 19.14% fall in the Nifty Auto index.
KKR launches $1.2 billion offer for Australian accounting software firm MYOB
SYDNEY (Reuters) - KKR & Co has launched a A$1.75 billion ($1.24 billion) takeover offer for MYOB Group after buying almost a fifth of the Australian accounting software provider, as the U.S. private equity firm grows its portfolio of tech businesses.
Britain's Schroders, Lloyds in talks to work together in wealth sector
(Reuters) - Europe's biggest standalone investment firm Schroders Plc said on Monday it was in talks with Britain's biggest bank Lloyds to work together in the wealth sector, potentially among the top wealth management tie-ups in recent years.
China shares tumble, central bank's move to aid economy shrugged off
SHANGHAI (Reuters) - China stocks tumbled on Monday, as investors back from a long holiday dumped shares across the board despite Beijing's weekend move to spur more lending at a time of growing fears the economic impact of the Sino-U.S. trade war will deepen.
Unexpected decline in German industry output hints at economic slowdown
BERLIN (Reuters) - German industrial output dipped unexpectedly in August for the third time in as many months, data showed on Monday, suggesting Europe's largest economy lost steam in the third quarter.
KKR in $1.4 billion bid to snap up Australian accounting software firm MYOB
SYDNEY (Reuters) - KKR & Co has launched a A$1.75 billion ($1.24 billion) takeover offer for MYOB Group after buying almost a fifth of the Australian accounting software provider, as the U.S. private equity firm grows its portfolio of tech businesses.
FE CREDIT Scores a Hat-trick at Cards and Electronic Payments International (CEPI) Asia Awards 2018
/ -- VPBank Finance Company Limited (VPB FC) - FE CREDIT which has emerged as one of the largest Credit Card issuers in Vietnam, scored a hat-trick at the 5th Annual CEPI Asia Awards 2018, increasing its award tally from 2 last year. The CEPI Asia Awards recognize market-leading offerings in cards, mobile and e-payments, remittances, merchant acquiring, and marketing campaigns across the Asia Pacific region. FE CREDIT won the 'Best Card Design' award, for Vietnam's first limited edition credit card the TET Card, launched during Lunar New Year 2018. For 'Best Technology Implementation -- Front End', FE CREDIT received the Highly Commended award for its unique product Fast Cash. In a market with very low ATM density, Fast Cash allows cardholders access to cash through just one SMS and without any ATM. FE CREDIT also won the Highly Commended award 'Best New Product, Service or Innovation Launch, for MPlus+, an indigenously developed unique digital card solution to tackle the physical ...
Gold slips as dollar gains after China eases policy
BENGALURU (Reuters) - Gold fell on Monday as the dollar firmed after China's central bank eased its domestic policy to support the economy amid concerns that an escalating trade dispute with the United States could hurt growth.
Jeera up 0.55 pc on rising domestic demand
Jeera prices increased by Rs 105, or 0.55 per cent, to Rs 19,300 per quintal in futures trade Monday on higher bets, tracking a firm trend at the spot market in the wake of rising domestic demand. Further, tight stocks position following restricted arrivals from the growing regions fuelled the uptrend. At the National Commodity and Derivatives Exchange, jeera for delivery in the current month rose Rs 105, or 0.55 per cent, to Rs 19,300 per quintal with an open interest of 4,255 lots. On similar lines, rates for November were trading higher at Rs 19,390, up by 0.47 per cent, or Rs 90 per quintal with an open interest at 5,211 lots. Analysts said the rise in jeera prices in futures trade was supported by increased buying by retailers and stockists at the spot market amid restricted supplies from producing regions.
RBI approves change in shareholding of Federal Bank subsidiary - Fedbank Financial Services
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Lead futures soften by 0.78% on global cues, low demand
Lead prices eased by 0.78 per cent per kg in futures market on Monday amid low demand at the domestic spot market and taking weak cues from the global market. At the Multi Commodity Exchange, lead for delivery in October was trading down by Rs 1.15, or 0.78 per cent, to Rs 146.45 per kg in a business turnover of 484 lots. Analysts attributed the weakness in lead prices at futures to cutting down of bets by participants, tracking a weak trend in the overseas markets and tepid demand from battery makers at the domestic spot market.
Crude oil futures fall 1.44% on weak global cues
Crude oil futures slipped by 1.44 per cent to Rs 5,466 per barrel Monday, as traders cut exposure at the existing levels amid a weak trend in the Asian trade. Crude oil for October was trading lower by Rs 80, or 1.44 per cent, to Rs 5,466 per barrel with a business volume of 2,472 lots at the Multi Commodity Exchange (MCX). Analysts said a weak trend in global market after the US said it may grant waivers to sanctions against Iran's oil exports next month and as Saudi Arabia was said to be replacing any potential shortfall from Iran, weighed on crude futures here. The US benchmark West Texas Intermediate fell 54 cents, or 0.73 per cent, to USD 73.80, while Brent, the international benchmark, was down 80 cents, or 0.95 per cent, to USD 83.36 a barrel.