Page 2507 - Business Finance
Ferrari plans 15 new models, SUV to deliver earnings growth
MARANELLO, Italy (Reuters) - Ferrari plans 15 new models, including hybrids, a utility vehicle and special editions in its drive to hit a softened but still exacting mid-term earnings target.
Audi launches electric SUV in Tesla's backyard, with assist from Amazon
SAN FRANCISCO (Reuters) - German luxury car brand Audi on Monday staged the global launch of a new electric sport utility vehicle on the home turf of rival Tesla Inc, and highlighted a deal with Amazon.com Inc to make recharging its forthcoming e-tron models easier.
Oil rises one percent on signs OPEC not prepared to boost output
NEW YORK (Reuters) - Oil futures rose more than 1 percent on Tuesday on signs that OPEC would not be prepared to raise output to address shrinking supplies from Iran, and as Saudi Arabia signaled an informal target near current levels.
Gold firms slightly as dollar loses its safe-haven shine
LONDON (Reuters) - Gold prices inched higher on Tuesday as the dollar eased following news that China would retaliate against a new round of U.S. tariffs on its goods.
Wall Street rallies as blow from fresh tariffs less than feared
(Reuters) - U.S. stocks rallied on Tuesday, led by gains in Apple and Amazon, as investors judged the latest tit-for-tat tariffs between the United States and China as less damaging than expected.
Penalties on delay in settlements under Fasal Bima Yojana
The government on Tuesday decided to incorporate penalties for states and insurance companies for delay in settlement of insurance claims under the Pradhan Mantri Fasal Bima Yojana (PMFBY).
Bring petroleum products under GST purview: HP Cong
Himachal Congress Tuesday demanded that petroleum products be brought under the GST to provide relief to the public from rising prices of petrol and diesel. Talking to mediapesons here today, the chairman of HP Congress Media Department Naresh Chauhan said that current prices of petrol, diesel and LPG cylinders have imposed extra burden on the public and the Centre should bring petroleum products under GST purview without any further delay. "If the centre cannot bring petroleum products under GST purview immediately, it should at least reduce excise duty and state governments should reduce value added tax (VAT) on petroleum products to provide relief to the public," he added.
SeaWorld, ex-CEO settle with U.S. SEC over 'Blackfish'
NEW YORK (Reuters) - SeaWorld Entertainment Inc and its former Chief Executive James Atchison have agreed to pay more than $5 million to settle U.S. Securities and Exchange Commission fraud charges for misleading investors about the negative effect that the 2013 documentary "Blackfish" would have on the company's reputation and business.
Germany to build LNG plant in 'gesture' to U.S. drive to sell more
BRUSSELS (Reuters) - Germany will chose where to build a liquefied natural gas (LNG) terminal by the end of 2018 as a gesture to the United States which wants to ship more gas to Europe, the economy minister said on Tuesday.
UP hikes paddy purchase price by up to Rs 200/quintal, looks to buy 50 LT this year
The Uttar Pradesh government Tuesday announced up to Rs 200 per quintal hike in the minimum purchase price for paddy while fixing the procurement target at 50 lakh tonnes (LT) for the current crop year. The state cabinet meeting headed by Uttar Pradesh Chief Minister Yogi Adityanath fixed the purchase price at Rs 1,750 per quintal for common variety and Rs 1770 for A variety for this year against Rs 1,550 per quintal for common variety and Rs 1590 for A variety last year. "Paddy purchase target has been fixed at 50 lakh MT in the current fiscal and purchase price of Rs 1750 per quintal as price for common variety and Rs 1770 per quintal for A variety has been fixed. Besides additional Rs 20 per quintal will be paid to farmers for its cleaning," an official spokesman told reporters here. The purchase will start from October 1 and will continue till February 28, 2019, for different regions, he said. The purchase will be online, and besides FCI, 3,000 paddy purcahse centres have been ...
China to penalise $60 billion of U.S. imports in tit-for-tat move
WASHINGTON/BEIJING (Reuters) - China and the United States plunged deeper into a trade war on Tuesday after Beijing added $60 billion of U.S. products to its import tariff list in retaliation for President Donald Trump's planned levies on $200 billion worth of Chinese goods.
U.S. SEC sues SeaWorld over 'Blackfish' disclosures
NEW YORK (Reuters) - The U.S. Securities and Exchange Commission on Tuesday sued SeaWorld Entertainment Inc and former chief executive James Atchison, saying they misled investors about the negative effect that the 2013 documentary "Blackfish" would have on the company's reputation and business.
Competition Commission penalises 18 sugar mills for rigging bids
Fair trade regulator Competition Commission of India (CCI) has imposed a total penalty of Rs 38 crore on 18 sugar mills and two associations for unfairly fixing the bids of a joint tender floated by state-run oil marketing companies in 2013, the government said on Tuesday.
Tesla, Musk face criminal probe over go-private statements: Bloomberg
(Reuters) - Tesla Inc and its Chief Executive Elon Musk are under criminal investigation by the U.S. Department of Justice over public statements about taking the electric carmaker private, Bloomberg reported on Tuesday.
India Post Payments Bank, Bajaj Allianz tie up for insurance products sale
India Post Payments Bank and Bajaj Allianz Tuesday announced a five-year partnership to sell life insurance products on a revenue share basis. Under the partnership, India Post Payments Bank (IPPB) will facilitate customers to pay for Bajaj Allianz life insurance products through their accounts. "Financial inclusion and financial literacy are the key requirements for any progressive nation, and I believe this partnership will enable India move steadily in that direction," Department of Posts Secretary A N Nanda said while announcing the partnership. The products will be first available across IPPB's network of 3,250 access points, gradually expanding to 155,000 post offices across every village, town and district in India. "IPPB cannot sell insurance on its own but tie-up with third party for offering their product. We will get commission on sale of third party products. In next 50-60 days, we will also facilitate payment of postal life insurance products. There will no overlap of ...
Wall Street rises as blow from new tariffs less than feared
(Reuters) - U.S. stocks rose on Tuesday, led by gains in Apple and Amazon, as investors judged the latest tit-for-tat tariffs between the United States and China as less damaging than expected.
India plans wide-ranging tightening of financial market rules
MUMBAI (Reuters) - India plans to tighten rules to curb mis-selling of securities, market manipulation and insider trading, its financial market regulator said on Tuesday after considering recommendations by a panel.
Beijing hits back as Trump slaps tariffs on Chinese goods (Intro Night Lead)
The trade war between the US and China got uglier on Tuesday as Beijing slapped tariffs on American goods worth $60 billion in retaliation to the additional taxes of $200 billion on Chinese goods by Washington.
No communication received from ArcelorMittal with regard to payment: Uttam Galva
Uttam Galva Steels Ltd Tuesday said it has not received any communication from ArcelorMittal with regard to modalities of payment. On September 10, ArcelorMittal moved the Supreme Court challenging the NCLAT order which held that Numetal's Rs 37,000 crore in second-round bid for Essar Steel was valid. The Luxembourg-based firm had submitted a revised offer for Essar Steel which also included a commitment to pay Rs 7,000 crore dues to the financial creditors of Uttam Galva and KSS Petron to be eligible in the race to acquire the debt-laden firm. In a BSE filing, Uttam Galva Steels Ltd said "the company has not received any communication regarding the modalities of payment from ArcelorMittal." PTI Numetal and steel tycoon Lakshmi Mittal-led ArcelorMittal had in February submitted separate bids to take over Essar Steel. The Committee of Creditors (CoC), however, disqualified both bids saying their promoters were tied to companies, which were bank loan defaulters and so ineligible under ..
Exclusive: Nestle, Unilever, Coke make bids in $4 billion-plus GSK India sale - sources
LONDON (Reuters) - Nestle, Unilever and Coca-Cola are among bidders for GlaxoSmithKline's Indian Horlicks nutrition business, expected to fetch more than $4 billion, four people familiar with the matter said.