Page 2609 - Business Finance
Trading in Australia's Investa Office Fund halted before takeover update
(Reuters) - Trading in shares of Australia's Investa Office Fund was halted on Friday pending an update on a Blackstone Group LP buyout offer for the Sydney-focused landlord, as rival suitor Oxford Properties Group waits in the wings.
Oil treads water as U.S. crude inventories fall, but trade tensions weigh
SINGAPORE (Reuters) - Oil prices held steady stable on Friday, as the market balanced a fall in U.S. crude inventories to the lowest levels since 2015, with Sino-American trade tensions and economic weakness from emerging markets.
Tesla, Musk sought to 'burn' Citron, other short-sellers - lawsuit
(Reuters) - The prominent short-seller Andrew Left has sued Tesla Inc and its Chief Executive Elon Musk, saying Musk fraudulently engineered his since-abandoned plan to take Tesla private to "burn" investors hoping the electric car company's stock price would fall.
Market off day's low
Key benchmark indices cut almost entire intraday losses in morning trade after an initial slide. At 10:28 IST, the barometer index, the S&P BSE Sensex, was down 16.63 points or 0.04% at 38,226.18. The Nifty 50 index was down 9.75 points or 0.08% at 11,527.15
Mixed finish for US stocks
The energy sector was the weakest performer of the day
Elliott demands fresh revamp at Hyundai Motor Group
SEOUL (Reuters) - U.S. activist hedge fund Elliott Management has renewed its pressure on Hyundai Motor Group with a fresh restructuring proposal after forcing the South Korean conglomerate to abandon its own reform plan in May.
GameStop misses profit estimate, shares fall
(Reuters) - GameStop Corp, the world's largest video game and gaming console retailer, reported a lower-than-expected quarterly profit on Thursday due to lower sales of video game software at its outlets.
Focus: Japan's Nidec sees EVs driving profits as it plans for future
KYOTO, Japan (Reuters) - Since starting Nidec in 1973 in a tiny Kyoto shed with just three workers, Shigenobu Nagamori has built it into the world's top maker of precision motors and became one of Japan's most venerated business leaders.
Infosys, Temasek form JV in Singapore
India's second largest IT services firm Infosys Friday said it has teamed up with Temasek to form a joint venture that will support the Singapore-based company's digital transformation journey. The joint venture -- in which Infosys Consulting (Infosys subsidiary) holds 60 per cent stake -- will be headquartered in Singapore, Infosys said in a statement. The remaining stake will be held by Temasek through Franklin Investments, it said adding that the agreement was signed by the parties last night and is effective immediately. The JV will integrate teams from Infosys and the operations of Temasek's wholly owned subsidiary - Trusted Source - that currently delivers IT services to Temasek and a number of other clients. As part of the transaction, more than 200 employees and contractors from Trusted Source will be part of the JV, in addition to Infosys staff who will join over time, the statement said. Infosys, in a regulatory filing, said the consideration of investment is "up to SGD 12 ..
Welspun Corp rises after winning order
Welspun Corp rose 2.62% to Rs 179.95 at 10:14 IST on BSE after the company said it has entered in to an agreement for supplying 220 KMT of pipes for oil & gas project in the American region.
British Airways hacked with details of 380,000 bank cards stolen
British Airways said that the personal and financial details of customers making bookings between August 21 and September 5 had been stolen in a data breach involving 380,000 bank cards. The almost two week long hack did not involve travel or passport details, the airline said, adding that it had launched an urgent investigation into the theft of customer data. "The personal and financial details of customers making bookings on our website and app were compromised," it said. "The breach has been resolved and our website is working normally. We have notified the police and relevant authorities." BA said the breach took place between 2158 GMT on August 21 and 2045 GMT on September 5 and that around 380,000 payment cards were compromised. BA advised anyone who believed they may have been affected to contact their bank or credit card provider and follow their recommendations. In terms of compensation, BA said they would be in touch with customers "and will manage any claims on an ...
Bajaj Auto in focus on plan to expand 3-wheeler, quadricycle capacity
Bajaj Auto said it will shortly enhance its production capacities of 3 wheeler and quadricycles to 1 million per year as the government announces end to permits. The announcement was made after market hours yesterday, 6 September 2018.
Hong Kong Market extends fall on trade war worries
Turmoil in Argentina and Turkey, as their currencies continue to sink on deteriorating confidence, is dragging on the global market as investors fear a spillover effect on other healthier emerging markets and beyond.
China Stocks down on trade tension
Investors were fretted about a possible escalation in the U.S.-China trade war later in the day, with President Donald Trump reportedly saying over the weekend that he is ready to impose tariffs on an additional $200 billion worth of Chinese imports as soon as the public comment period ends on Thursday.
Japan Nikkei extends losses for sixth day
The 6.7-magnitude quake, which has ravaged Hokkaido leaving at least 9 people dead, 300 injured and more than 30 missing, sparked investor concerns over the economic impact. The quake in Hokkaido came on the heels of a powerful typhoon that swept through Japan just days earlier, leaving a severe amount of damage particularly in western regions, with Kansai International Airport likely to be paralyzed for up to a week
Australia Market extends losses for seventh day
Turmoil in Argentina and Turkey, as their currencies continue to sink on deteriorating confidence, is dragging on the global market as investors fear a spillover effect on other healthier emerging markets and beyond.
Bajaj Auto gains on plan to expand 3-wheeler, quadricycle capacity
Bajaj Auto rose 2.69% to Rs 2858.10 at 9:41 IST on BSE after the company said it will enhance its production capacities of 3-wheelers and quadricycles to 1 million per year.
Fresh surge in fuel prices, citizens demand govt intervention
Fuel prices have once again gone up on Friday morning in Delhi and Mumbai, strengthening the demand for government intervention among commuters.In New Delhi, petrol is being sold 48 paise higher at Rs 79.99 per litre, while the price of diesel has been increased by 52 paise to Rs.72.07 per litre.On the other hand, petrol is being sold at Rs 87.39 per litre, and diesel at Rs.76.51 per litre in Mumbai.Speaking to ANI, a citizen from New Delhi, Navita, said the consistent surge in fuel prices is creating an additional burden, mainly for middle-class families."The government policies should be public oriented. If the government is willing to do so, they can do," she added.Furthermore, a local from Mumbai said, "The middle-class and poor are suffering every day due to hike in fuel prices. Due to a surge in fuel prices, there is also a hike in the prices of other things. The government should take necessary steps to curb this issue."The constant surge in fuel prices has led the opposition ..
Equity indices open in red; Sensex loses over 100 points
The key Indian equity indices opened on a negative note on Friday with the S&P BSE Sensex losing over 100 points so far.
Sensex, Nifty retract in early trade in line with Asian markets
The BSE benchmark Sensex drifted lower by nearly 166 points and the NSE Nifty slipped below the 11,500-level in the opening session Friday due to intense selling mainly in banking, power and healthcare shares amid weak Asian cues. The BSE 30-share barometer dropped by 165.72 points, or 0.43 per cent, to 38,077.09 in opening trade as index major Sun Pharma, Yes Bank, SBI, ICICI Bank, NTPC, ONGC and Maruti Suzuki declined. The gauge had gained 224.50 points in the previous session on value-buying in recently battered stocks. The NSE Nifty index too fell by 43.40 points, or 0.38 per cent, at 11,493.50. Brokers said weakness was seen in most Asian markets as investors were cautious in view of ongoing trade war between the US and China and preferred to log gains after yesterday's strong comeback. Meanwhile, foreign portfolio investors (FPIs) continued selling on the domestic bourses here. They sold shares worth a net Rs 455 crore, while domestic institutional investors (DIIs) made ...