Page 2785 - Business Finance
Exclusive: ValueAct invests $800 million in financial stocks in second quarter - letter
BOSTON (Reuters) - Activist hedge fund ValueAct Capital Management boosted investments in financial stocks by more than $800 million during the second quarter, citing attractive risk-adjusted values of big banks, according to a client letter viewed by Reuters.
Wall Street rises on upbeat trade news
NEW YORK (Reuters) - U.S. stocks closed higher on Friday, with the S&P 500 and the Dow Jones Industrial Average extending gains and the Nasdaq turning positive on reports of progress in tariff disputes between the United States and its trading partners China and Mexico.
Trump backs CEOs, proposes easing corporate reporting rules
NEW YORK/WASHINGTON (Reuters) - U.S. President Donald Trump asked securities regulators to explore replacing quarterly reporting requirements with half-yearly filings at the urging of executives including PepsiCo Chief Executive Indra Nooyi, reigniting a debate about how often companies should give financial updates to investors.
Walmart acquires 77% stake in Flipkart Group
Retail giant Walmart Inc. on Saturday acquired approximately 77 per cent stake in e-commerce major Flipkart.
Economic growth higher during NDA: NITI Aayog VC
Dismissing reports about higher economic growth during the UPA Government's regime, NITI Aayog Vice-Chairman Rajiv Kumar on Saturday said that the economic growth or Gross Domestic Product under Narendra Modi government has been higher than previous governments. He added that in the past four years strong foundations have been laid for "sustained high and inclusionary growth" for the future."Growth rate under four years of Modi government is still higher than the growth rate of last four years of UPA. This is being managed despite the pernicious legacy of massive NPAs, de- leveraging of commercial bank credit and uncertain global trade environment," Kumar said on Twitter.Referring to a report by sub-committee of the National Statistical Commission (NSC) on real sector statistics which reportedly claimed that going by revised GDP measures, the economic growth touched double digits -- 10 per cent -- during UPAs rule in 2006-07, Kumar in a series of tweets tried to clear air about these
Infosys CFO Ranganath resigns, search for successor soon (Third Lead)
Infosys Chief Financial Officer (CFO) M.D. Ranganath has resigned and will continue in the executive post till November 16, the IT major said on Saturday.
Volkswagen's CEO was told about emissions software months before scandal: Der Spiegel
FRANKFURT (Reuters) - Volkswagen Chief Executive Herbert Diess was told about the existence of cheating software in cars two months before regulators blew the whistle on a multi-billion exhaust emissions scandal, German magazine Der Spiegel said.
Infosys CFO Ranganath resigns, search for successor soon
Infosys Chief Financial Officer (CFO) M.D. Ranganath has resigned and will continue in the executive post till November 16, the IT major said on Saturday.
Guwahati-based enterprise among top 100 SMEs in India
Guwahati-based Out of Home (OOH) media firm's Outreach Advertising has made it to the list of top 100 Small & Medium Enterprises (SMEs) in the country for 2017, a release today said. The screening was made from over 33,000 entities across the country, it said. The initiative by India SME Forum is organised in association with the Union Ministry of Micro, Small & Medium Enterprises, it said. The selection process to pick the top 100 emerging SMEs involved a qualified and eminent jury's assessments with the criteria considered in selecting included innovation, scalability, business feasibility, market opportunity, reach and revenue. Commenting on the recognition award, Outreach Advertising's Managing Director Sunit Jain said, "I believe Outreach has taken the right steps at the right time transforming the entire ecosystem of our industry while impacting city's landscape positively." The award was presented by Minister of State (Independent Charge) of Micro, Small .
Infosys CFO MD Ranganath quits; surprises market watchers
Infosys Chief Financial Officer M D Ranganath has resigned from the company, a surprise move that industry watchers say raises questions about stability at the country's second largest IT services firm. Ranganath, fondly known as Ranga, has been working with Infosys for close to two decades. He took over the CFO role in 2015 after the exit of Rajiv Bansal. He is leaving the company to "pursue professional opportunities in new areas" and will continue in his current position till November 16, 2018, Infosys said in a statement. The Board, which accepted the resignation at its meeting today, said it will immediately commence the search for Ranganath's successor. "After a successful career spanning 18 years in Infosys, including as CFO for the last three crucial years, I now plan to pursue professional opportunities in new areas," Ranganath said. Calls and messages to Ranganath went unanswered. Reports suggest that Jayesh Sanghrajka, deputy CFO at Infosys, could succeed Ranganath although
Gujarat Petrosynthese update on subsidiary - GPL Finance and Investments,
GPL Finance and Investments divests its stake in Southern Magnesium and Chemicals
Actor, director announce aid for flood-hit Kerala
: Contributions to the Chief Minister's Disaster Relief Fund, Kerala, continued to pour in from Tamil Nadu with actor Rajinikanth donating Rs 15 lakh and director Shankar granting Rs 10 lakh for the flood victims, sources said today. IAS officers in the State, too, have decided to chip in by each contributing a day's salary to the fund, a press release from the president of the Tamil Nadu IAS Officers Association PWC Davidar said. Senior vice-president of automobile company Hyundai Motor India Stephen Sudhakar and the south zone - business head of the company Y S Chang Sr handed over a cheque for Rs one crore to the Kerala Chief Minister Pinarayi Vijayan in Thiruvananthapuram. Indian Overseas Bank said it has decided to not levy any fee for contributions made to the relief fund account, a statement from the public sector bank said. Kerala has been ravaged by torrential rains since August claiming hundreds of lives and rendering lakhs homeless.
Lakshmi Precision Screws restarts operations at Plant I
From 14 August 2018
Ratnamani Metals & Tubes wins orders worth Rs 155 crore
For supply of CS pipes
CG Power inks pact with Malaysian firm Tenaga Switchgear
CG Power and Industrial Solutions, a Avantha Group firm, has entered into a strategic agreement with Malaysia-based Tenaga Switchgear. As per the agreement, both the companies will collaborate in the Malaysian market, CG Power and Industrial Solutions (Crompton Greaves) said in a statement. The agreement will help both firms to leverage their strengths and assets to expand market reach in Southeast Asia-Pacific (SEAP), particularly in Malaysia, it added. "This alliance enables both manufacturers to guarantee a complete and high-quality offering, focused on market needs and to provide its customers with a comprehensive suite of products and services that delivers customer satisfaction," CG CEO and MD K N Neelkant said. The pact between the companies includes product development and promotion of 11 kV Gas Insulated Switchgear (GIS) in Malaysia to address the rapidly growing demand in this region. CG provides end-to-end solutions which includes electrical products, systems and services ..
Board of Orissa Sponge Iron & Steel approves change in directorate
At meeting held on 18 August 2018
Volkswagen CEO was told about emissions software months before scandal: Der Spiegel
FRANKFURT (Reuters) - Volkswagen Chief Executive Herbert Diess was told about the existence of cheating software in cars two months before regulators blew the whistle on a multi-billion exhaust emissions scandal, German magazine Der Spiegel said.
Fortune International acquires 36% stake in Fortune Stones
Fortune Stones was incorporated on 05 January 1996. FSL, a Granite Mining Company which is a joint venture Company with "The M. P. State Mining Corporation, Bhopal (MPSMC)", whereby MPSMC holds 20% stake in FSL. It has its Registered Office and corporate Office at New Delhi. FSL is one of the largest producers of red granite in Northern India.
Board of Supreme Infrastructure India approves fund raising and debt restructuring proposals
At meeting held on 18 August 2018
Thailand's king now largest shareholder in Siam Cement Group
BANGKOK (Reuters) - Thailand's King Maha Vajiralongkorn is now the largest shareholder in the country's biggest industrial conglomerate, Siam Cement Group Pcl, data from the Stock Exchange of Thailand (SET), published on its website on Saturday showed.