Page 2538 - Business Finance
Flat Wall Street propped up by gains for bank stocks
(Reuters) - U.S. stocks were flat on Friday, as declines in real estate and utilities were offset by gains for banking stocks, driven by a rise in 10-year Treasury yields above 3 percent.
Infosys acquires Salesforce advisor Fluido in Europe
Global software major Infosys on Friday said it has acquired Fluido, a leading Salesforce advisor and consulting firm in the Nordics, to help its clients in digital transformation.
Amazon ramps up large appliances selection ahead of festive sales
Amazon India has ramped up the selection of large appliances on its platform and invested significantly in adding warehouse capacity ahead of the festive season in the country as it goes head-to-head against Walmart-backed Flipkart. Amazon Seller Services Director (Category Management) Kaveesh Chawla Friday said Amazon.in now has over 6,000 products across top brands listed on its platform compared to about 5,000 last year. "About 500 of the 6,000 products have been added in the last few months in preparation for the festive season... Our large appliances business has been among the fastest growing categories with two times year-on-year growth," he told PTI. About 20 million people are expected to shop on various e-commerce platforms during the festive sale next month, translating into sales of around USD 3 billion for players like Amazon and Flipkart, according to a report by research firm RedSeer. The report added that the share of items like electronics and furniture during the ...
U.S. retail sales barely rise; import prices drop
WASHINGTON (Reuters) - U.S. retail sales recorded their smallest gain in six months in August as consumers cut back on purchases of motor vehicles and clothing, but upward revisions to July data kept intact expectations of strong economic growth in the third quarter.
Fed's Evans sees one or two more rate hikes this year
FORT WAYNE, Ind. (Reuters) - Federal Reserve Bank of Chicago President Charles Evans said on Friday that two further interest-rate hikes this year by the U.S. central bank would not be surprising, given the strength of the economy.
mjunction joins hands with Sporty Solutionz
Indias B2B e-commerce company, mjunction on Friday announced a tie-up with Sporty Solutionz Private Ltd to provide innovative digital solutions to the global and national sports federations, sports media rights and commercial property owners.
Tata Steel bags 'Steel Industry Leader' award
Tata Steel has been adjudged Steel Industry Leader globally by the Dow Jones Sustainability Index 2018 (DJSI), a Tata Steel press release said Friday. Tata Steel is also the only India-based company to emerge as a winner among all 60 sectors evaluated for DJSI 2018. Tata Steel leads the Steel industry in RobecoSAMs Corporate Sustainability Assessment based on its Total Sustainability Score in 2018. This is the second time in the last three years that Tata Steel has been adjudged the "Industry Leader" amongst 24 steel companies globally, it said. We are honored to be ranked the number one company in the steel sector globally. It is a recognition of our efforts towards sustainability and relentless pursuit for a better tomorrow. By its very nature, steel manufacturing is one of the most challenging businesses from the perspective of sustainability. "This recognition encourages us to stay committed to our focus on creating a sustainable ecosystem and benchmark with best .
Brexit endgame nears as series of summits begins
DUBLIN (Reuters) - Brexit talks are set to intensify over the coming week, with the first of three summits that European Union leaders hope will settle a divorce deal for departing Britain within the next two months.
Infosys to acquire Fluido for up to 65 mn euros
India's second largest IT services firm Infosys said Friday it will acquire Finland-based Fluido in a deal worth up to 65 million euros (over Rs 545 crore). The acquisition -- for "up to 65 million euros including earn-out, management incentives and bonuses -- is expected to close during the third quarter of fiscal 2019, subject to customary closing conditions, Infosys said in a statement. "...this acquisition strengthens Infosys' position as a leading Salesforce enterprise cloud services provider and enhances its ability to provide clients an unparalleled cloud-first transformation...The acquisition strengthens Infosys' presence in the Nordics region," it added. Headquartered in Espoo, Finland, Fluido is one of the largest Salesforce (software company) consulting partners in Europe. It is majority-owned by its management team and CapMan private equity, with Salesforce Ventures having a minority stake. Its offerings include cloud consulting, implementation and training ...
Amid disparities, India up one notch in Human Development Index
Amid existing disparities, India has climbed one notch to 130 out of 189 countries in the latest human development rankings released on Friday by the United Nations Development Programme (UNDP).
Base effect, lower food prices ease India's August wholesale inflation (Roundup)
Base effect along with a fall in cost of food and primary articles eased India's annual inflation rate based on wholesale prices to 4.53 per cent in August from a 5.09 per cent rise in July.
Nifty settles at 11,515, up 145 points
NSE benchmark Nifty jumped 145 points Friday to end at 11.515.20 on all-round buying led by financial, realty, pharma and energy stocks amid positive macro data and global cues. Investor sentiment improved after data showed inflation eased in August. The rupee and 10-year government bond prices rose after retail inflation for August fell below the RBI's medium-term target of 4 per cent for the first time in 10 months. Overseas, European stocks were trading higher after an unexpectedly sharp interest rate hike in crisis-hit Turkey supported the lira and global risk appetite. Asian markets ended higher. The Nifty 50 index surged 145.30 points or 1.28 per cent to end at 11,515.20, its highest closing level since September 7, 2018. It saw an intra-day movement of about 92.70 points. Among the sectoral indices, Realty climbed by 3.46 per cent followed by Metal 2.27 per cent, Pharma 2.51 per cent, Finance Service 1.84 per cent, PSU bank 1.79 per cent, Infra 1.70 per cent, Media 1.39 .
Rupee recovery, lower inflation push key equity indices higher (Roundup)
A recovery in the Indian rupee's value along with broadly positive global cues and a slower rise in wholesale price inflation for August pushed the Indian equity indices higher on Friday.
India's YoY exports up 19.21% in August
India's merchandise exports rose by 19.21 per cent in August to $27.84 billion from $23.36 billion during the corresponding month of last year, official data showed on Friday.
U.S. auto sector output boosts industrial production
U.S. industrial production rose in August, as strong output in auto manufacturing offset lacklustre production in the rest of the factory sector.
Fuel price hike continues; petrol at Rs 81.28 in Delhi
Domestic fuel prices continued their upward movement on Friday and touched fresh record levels in three of the four metro cities.
Exports rise at fastest pace in 3 months in Aug; trade deficit narrows to USD 17.4 bn
The country's exports rose at the fastest pace in three months to reach USD 27.84 billion in August on account of healthy growth in petroleum products, engineering, pharma, and gems and jewellery shipments. Imports too grew by 25.41 per cent in August to USD 45.24 billion due to costlier crude oil shipments. In August, the growth rate in overseas shipments touched a three-month high of 19.21 per cent. Earlier in May, exports had recorded a growth of 20.18 per cent. Trade deficit during the month narrowed to USD 17.4 billion as against USD 12.72 billion in the same month last year, according to the data released by the commerce ministry Friday. In July, the trade deficit soared to a near five-year high of USD 18.02 billion. Exports of petroleum products, engineering, pharma and gems and jewellery in August rose by 43.25 per cent, 31.81 per cent, 28.52 per cent and 34.76 per cent respectively. Oil imports in August grew by 51.62 per cent to USD 11.83 billion and non-oil imports were up .
Lupin announces change in directorate
With effect from 01 October 2018
Wall Street opens slightly higher as trade war fears ease
(Reuters) - U.S. stocks opened slightly higher on Friday, as hopes that the United States and China would start new trade talks calmed investor worries and technology stocks rose.