Page 2542 - Business Finance
Carney warns of "no-deal" Brexit house price crash - newspaper
LONDON (Reuters) - Britain's property market would crash and mortgage rates spiral up in the event of a chaotic no-deal Brexit, with house prices falling 35 percent over three years, Bank of England Governor Mark Carney told ministers, The Times newspaper reported.
Investec asset management spin off plan lifts shares
JOHANNESBURG/LONDON (Reuters) - Investec cheered investors on Friday with plans to spin off its asset management unit in a surprise restructuring ahead of the departure after four decades of the South African firm's founder and chief executive.
Board of Standard Shoe Sole & Mould India approves change in company secretary
At meeting held on 14 September 2018
Sugar prices go up sharply by Rs 160 per quintal
Sugar prices flared by a whopping Rs 160 per quintal at the wholesale market in the national capital Friday following sturdy demand and tight supplies. Marketmen said widespread buying by stockists and bulk consumers such as soft-drink, ice-cream and confectioners after the approval of over 25 per cent hike in the ethanol prices, largely attributed the sharp rise in sugar prices. In addition, pause in supplies from mills also supported the upside in prices, they added. Sugar ready M-30 and S-30 prices shot up by Rs 160 each to finish the day at Rs 3,400-3,600 and Rs 3,390-3,590 per quintal. Likewise, mill delivery M-30 and S-30 prices climbed Rs 110 each to Rs 3,150-3,300 and Rs 3,140-3,290 per quintal. In the mill gate section, sugar Kinnoni and Asmoli shot up by Rs 120 each to conclude at Rs 3,330 and Rs 3,300, Khatuli by Rs 105 to Rs 3,300, Dhampur by Rs 100 to Rs 3,150 and Shamli and Modinagar by Rs 95 each to Rs 3,150 and Rs 3,170 per quintal. Sugar Mawana, Malakpur, Dorala, ..
Wholesale inflation subsides to 4.53% in August
Wholesale inflation for the month of August witnessed a four-month low of 4.53 per cent, with food inflation declining to -2.25 per cent in the same month.Wholesale inflation, measured as Wholesale Price Index (WPI), dipped to 4.53 per cent in August from 5.09 per cent in July and 3.24 per cent in the corresponding month of the previous year.Build up inflation rate in the financial year so far was 3.18 per cent, compared to a build up rate of 1.41 per cent in the corresponding period of the previous year, as per data published by the Ministry of Commerce and Industry.The index for 'Food Articles' group rose by 0.1 per cent due to higher price of gram (6 per cent), moong, ragi and bajra (4 per cent each), urad, barley, wheat and tea (3 per cent each). However, the price of egg (6 per cent), poultry chicken (5 per cent), fish-inland (3 per cent), peas/chawali, betel leaves and arhar (2 per cent each) and beef and buffalo meat (1 per cent each) declined.Meanwhile, index for 'Non-Food ...
Thyssenkrupp reorganises industrials unit as problems mount
FRANKFURT (Reuters) - Thyssenkrupp is to separate its shipbuilding business from its struggling industrials division in a restructuring that could decide the fate of interim Chief Executive Guido Kerkhoff.
Fitch downgrades JLR outlook to negative; affirms BB+ ratings
Fitch Ratings has revised the outlook on the Tata-owned marquee auto firm Jaguar Land Rover, which is facing Brexit and currency headwinds, to negative from stable, but affirmed ratings on its debt at BB+. After being the cash-cow for Tata Motors since 2010, JLR reported a net loss in the quarter to June 2018 as the rising public aversion to diesel cars and the the increasing uncertainty over Brexit has only confounded the problem for the company. Earlier this week JLR had warned of production cuts and more problems if Brexit did not materialise the way it has been planned. The agency cited a likely increase in JLR's negative cash flow in the next two years due to the falling profitability and the risks from Brexit as it sells around 20 per cent of its volumes in the EU markets. JLR's product portfolio is also heavily biased towards diesel, which accounts for 90 per cent of its sales in Europe, while sales of diesel powertrain are falling in Europe. "The outlook change ..
EAC-PM member calls for extreme vigilance on rupee
A member of Economic Advisory Council to Prime Minister (EAC-PM) Friday called for extreme vigilance on the rupee front, saying it has depreciated against dollar outside reasonably acceptable parameters of 4-6 per cent per annum. The rupee breached the historic low of 72 level this week, marking year-to-date losses of more than 13 per cent. It, however, recovered today by 50 paise to 71.68 against the dollar in morning trade in the forex market on the government's assurance that all steps would be taken to ensure the domestic currency does not depreciate to unreasonable levels. "It is reasonable to expect the Indian rupee to annually depreciate by 4-6 per cent against the dollar.The recent depreciation outside these parameters...," Rathin Roy, the EAC-PM member, said in a blog ahead of the Prime Minister's meeting on Saturday to take stock of the health of the economy. The recent fall in the rupee, he said, could be on account of an attempt by speculators to 'short' the rupee, and ...
IMF says Kenya's external position is strong as standby deal expires
NAIROBI (Reuters) - The International Monetary Fund considers that Kenya's external position is strong, its representative in Nairobi said on Friday, adding that the Fund would continue to support its reform efforts, even though a stand-by loan deal has expired.
India's fuel demand rose 0.8 percent in August
NEW DELHI (Reuters) - India's fuel demand rose 0.8 percent in August compared with the same month last year.
IL&FS Transportation Networks Ltd leads losers in 'A' group
Ashoka Buildcon Ltd, Kwality Ltd, HDFC Standard Life Insurance Company Ltd and Welspun Corp Ltd are among the other losers in the BSE's 'A' group today, 14 September 2018.
Kwality Q1 net profit slumps to Rs 1 cr
Kwality Ltd said Friday its net profit saw steep fall to Rs 1.04 crore during the first quarter of the 2018-19 financial year, on poor sales. Net profit during April-June, 2017-18 stood at Rs 27.87 crore, the company said in a regulatory filing. Net income declined to Rs 1,265.78 crore from Rs 1,573.18 crore in the year-ago period. Kwality informed that it is currently facing an issue of receivables management. "This started when the company could not service its customers with the required goods due to liquidity crunch, a situation that emerged primarily towards the end of the quarter triggered due to non-disbursement of sanctioned working capital from banking partners," it said. This impacted the company's plans to monetise its investment already made on setting up of a new facility dedicated for high margin value-added products, it said. Further, considering significant delays in recovery of receivable balances, the lenders have proposed forensic audit and also the company has suo
Global Markets: Trade hopes, tech, and Turkey bolster world stocks
LONDON (Reuters) - Shares rose around the world on Friday as expectations grew that the United States and China would open new trade talks, while an interest rate hike in Turkey supported the lira and global risk appetite.
Trade hopes, tech, and Turkey bolster world stocks
LONDON (Reuters) - Shares rose around the world on Friday as expectations grew that the United States and China would open new trade talks, while an interest rate hike in Turkey supported the lira and global risk appetite.
BKM Industries Ltd leads losers in 'B' group
Zicom Electronic Security Systems Ltd, Rattanindia Power Ltd, Ambition Mica Ltd and IL&FS Investment Managers Ltd are among the other losers in the BSE's 'B' group today, 14 September 2018.
Suyin Optronics in partnership with Syska, Biometronic sets operations in India
SYSKA Group in partnership with Biometronic and Suyin Optronics will set up India's first camera module factory.With a factory in Noida, the total investment made by the companies will be around USD 30 million, which will be utilized in three phases.Suyin Optronics will manufacture camera modules for mobile phones, automotive industry (Rear view camera), medical, security industry (CCTV) and defense industry (Drones).The factory will have a clean room for an installed production capacity of 5 million pieces per month and an expansion plan to set up the first COB (chip-on-board) plant for image sensors with an installed capacity of 10 million pieces per month. A Center of Excellence (COE) will also be set-up to enable indigenous design and development capability which will constitute a collaborative effort with the industry to develop solutions for optical, mechanical and sensor packaging throughputs.With the aim to support Indian government's initiative of Make in India, this is for ..
Lithium Tech to double workforce in India
Around 80 per cent of the workforce at Lithium office in India is engaged in product development and it has plans to hire a majority of the workforce from computer science stream
Strong market breadth
Key equity indices were trading near the day's high in mid-afternoon trade. At 14:23 IST, the barometer index, the S&P BSE Sensex, was up 325.68 points or 0.86% at 38,043.64. The Nifty 50 index was up 118.65 points or 1.04% at 11,488.55. The Sensex was trading above the psychologically important 38,000 mark.
Volumes spurt at Shree Renuka Sugars Ltd counter
Shree Renuka Sugars Ltd registered volume of 112.73 lakh shares by 14:14 IST on NSE, a 13.2 fold spurt over two-week average daily volume of 8.54 lakh shares
In Indonesia, long-term foreign bond investors keep faith - for now
JAKARTA/TOKYO (Reuters) - Recent turbulence in Indonesian markets has tested the pain threshold for foreigners who invest in the country's longer-term bonds, but they appear to be keeping their nerve.