Page 3033 - Business Finance
Oil rallies on expectation inventories will drop
NEW YORK (Reuters) - Oil prices strengthened Thursday, with U.S. crude gaining nearly 2 percent after traders saw an industry report suggesting domestic crude stockpiles would soon decline again after a surprise rise in the latest week.
U.S. stocks rise as Apple hits $1 trillion mark
NEW YORK (Reuters) - The S&P 500 and Nasdaq rose in afternoon trading on Thursday, driven by Apple shares as the iPhone maker became the first publicly traded U.S. company worth a trillion dollars.
Apple first US company to hit $1 trillion-mark
Apple on Thursday become America's first publicly-traded company to hit the $1-trillion milestone when its stock briefly hit the $207.05 per share -- the price required to achieve the feat.
Jet Airways 'talking to employees to reduce costs'
Airline major Jet Airways on Thursday said it is in talks with employees and key stakeholders to implement cost reduction measures like pay cuts.
China stands its ground after Trump amps up tariff threats
BEIJING/WASHINGTON (Reuters) - China vowed on Thursday to retaliate if the United States acted on a threat to raise tariffs on the Asian nation's exports, fuelling fears in financial markets that the trade war between the world's two biggest economies would escalate.
Apple hits $1 trillion stock market valuation
SAN FRANCISCO (Reuters) - Apple Inc became the first $1 trillion publicly listed U.S. company on Thursday, crowning a decade-long rise fueled by its ubiquitous iPhone that transformed it from a niche player in personal computers into a global powerhouse spanning entertainment and communications.
Venezuela socialists set to legalize money exchange operations
CARACAS (Reuters) - Venezuela's all-powerful Constituent Assembly was set to legalize money exchange operations on Thursday, in an attempt to relax the strict socialist-led currency controls that have throttled the oil-rich nation's economy.
Bank of England raises rates above crisis lows, signals no rush for next hike
LONDON (Reuters) - The Bank of England pushed interest rates above their financial crisis lows on Thursday, but signalled it was in no hurry to raise them further as Britain heads for Brexit next year with no clear plan for leaving the European Union.
Apple hits $1 trillion mark, boosts Nasdaq and S&P
(Reuters) - Apple became the first $1 trillion publicly listed U.S. company on Thursday, leading a rebound in technology stocks and pushing the benchmark S&P 500 and the Nasdaq higher.
Global Markets: Trade spat weighs on markets, but Apple's $1-trillion valuation boosts Nasdaq
NEW YORK (Reuters) - A deepening trade dispute between the United States and China weighed on global stocks and bond yields on Thursday, but a rise in Apple shares took its valuation above $1 trillion, the most for a U.S.-listed company, and helped lift some U.S. indexes.
Tesla shares surge as investors embrace cash comments, Musk apology
(Reuters) - Shares of Tesla Inc jumped more than 12 percent on Thursday, after the company convinced investors that it was able to yield positive cash flow and turn a profit, and Chief Executive Officer Elon Musk apologized for past incendiary remarks.
Punjab govt gives Rs 395 cr subsidy to purchase farm equipments to manage paddy residue
Punjab agriculture department today said it will provide Rs 395 crore subsidy for the purchase of 28,641 farm equipment to manage paddy residue this fiscal. Subsidy - ranging from 50 per cent to 80 per cent - is being provided to the farmers under the scheme, according to an official spokesperson. This is part of the Rs 665 crore subsidy announced by the state government for 2018-19 and 2019-20. The remaining amount of Rs 270 crore will be utilised during the next financial year, the spokesperson added. While around 12,000 machines are being subsidised at 50 per cent for individual farmers, another 5,280 agro-machines are being provided to 514 farmer groups and 16,655 agro-machines to 3,547 Primary Agriculture Cooperative Societies (PACS) at a subsidy of 80 per cent to establish farm machinery banks (FMBs) to be used as Custom Hiring Centres. The equipments include happy seeder, paddy straw chopper/cutter, mulcher, RMB plough, shrub cutter, zero till drill, super straw management ...
Legal, political headwinds gather for Petrobras despite rising oil prices
RIO DE JANEIRO(Reuters) - Rising crude prices should buoy quarterly results at Petrobras
Instant View: Apple hits $1 trillion stock market valuation
(Reuters) - Apple Inc became the first $1 trillion publicly listed U.S. company on Thursday, crowning a decade-long rise fueled by its ubiquitous iPhone that transformed it from a niche player in personal computers into a global powerhouse spanning entertainment and communications.
BMW beats second-quarter forecasts as new anti-pollution rules dent rivals
FRANKFURT (Reuters) - BMW reported a smaller-than-expected 6 percent decline in second quarter operating profit on Thursday while brushing off concerns about new anti-pollution rules and trade tensions which caused rival Daimler to warn on profits.
Shell cos clampdown: Trading restrictions to continue against Pacific Finstock
Markets regulator Sebi today said certain trading restrictions on Pacific Finstock Ltd (PFL) and its promoters and directors would continue. Besides, the forensic audit of PFL, which figured among the 331 'suspected shell companies' under the regulatory scanner, has also been completed, according to the Securities and Exchange Board of India (Sebi). "As informed by Bombay Stock Exchange, it is noted that the forensic audit of PFL as ordered in the interim order is now complete," Sebi said in an order, adding that the consequential action in that regard "shall be taken in accordance with law". PFL is among the firms against whom Sebi initiated action in August 2017 by ordering trading restrictions, following receipt of a list of 331 'suspected shell companies' from the government. The regulator had placed the firm in the trade-to-trade category with limitation on the frequency of trade and imposed a limitation on the buyer by way of 200 per cent deposit on the trade value. Later on, ...
Goldman sees rising rates a drag on U.S. residential investing
NEW YORK (Reuters) - Goldman Sachs economists said on Thursday rising mortgage rates would subtract 1 to 2 percentage points from U.S. residential growth over each of the next two years as they have already nicked the housing sector.
Made 'mistakes' in smartphone business in India, will bounce back: Lenovo CEO
Admitting that Lenovo made some "mistakes" in the smartphone business in India, the company CEO Yang Yuanqing on Thursday vowed to bounce back and reclaim its past glory in the next couple of years by launching right products for the India market under both its Lenovo and Motorola brands.
Niti Aayog launches mobility hackathon 'Move Hack'
Niti Aayog today said it has launched Move Hack, global mobility hackathon to crowdsource solutions for the future of mobility in India. Awards for the hackathon include recognising top 10 winners, with total prize money of more than Rs 2 crore, the Aayog said in a statement. Move Hack will be focused on 10 themes and structured over three legs -- online, followed by Singapore leg and the finals in New Delhi. The statement noted that transportation and mobility are emerging as potential drivers of innovation and economic growth of the 21st century. It also said Move Hack aims to bring about innovative, dynamic and scalable solutions to problems pertaining to mobility. "The hackathon has two-pronged campaign approach: (a) 'Just Code It': aimed at solutions through innovations in technology / product / software and data analysis, and (b) 'Just Solve It': innovative business ideas or sustainable solutions to transform mobility infrastructure through technology," the statement said. Move .
Quantela expects to onboard 100 cities by March next year
Startup firm Quantela today said it expects to have 100 cities globally using its IT platform by the end of this fiscal and break-even by 2020-21. "Being a startup our growth rate is very high. We expect to have 100 cities as our client by end of this financial year," Quantela, Founder and CEO, Sridhar Gadhi today said. He was talking on the sidelines of partnership arrangement with University of California Berkeley for start-up accelerator programme. "Under the accelerator program, we plan to select around 10 start-ups every year who will use our technology platform and will be mentored by University of California Berkeley for product development and market access," Gadhi said. He said that company has an artificial intelligence platform for smartcities where it integrates solution of other vendors for controlling various systems in smart cities like street lighting, waste management, parking, water management etc. "We have invested USD 6 million till date in developing our ...