Page 3052 - Business Finance
Ferrari CEO calls Marchionne's goals to 2022 'aspirational', shares fall
MILAN (Reuters) - Ferrari's new boss sought to reassure investors that he would execute midterm targets set by his predecessor, Sergio Marchionne, but the stock fell more than 8 percent on Wednesday when he described the goals to 2022 as "aspirational".
RBI approves Bakhshi's appointment as COO of ICICI Bank
ICICI Bank on Wednesday said that the RBI has approved the appointment of Sandeep Bakhshi as its Chief Operating Officer (COO) effective from July 31.
RCI Industries & Technologies update on its Dubai based subsidiary
Powered by Capital Market - Live News
SSWL sells 13.59 lakh wheel rim sales in July 2018
Records 8% growth
Apollo Tyres to set up new state-of-the-art manufacturing facility at A.P.
Powered by Capital Market - Live News
Tesla second-quarter report could be an $850 million boon or bane for short-sellers
NEW YORK (Reuters) - Tesla Inc - the most heavily shorted U.S. company - is set to report quarterly results on Wednesday, and short-sellers could be dealt a nearly $850 million loss or gain, depending on the direction of the post-earnings stock move.
BSE Investments acquires 24% in CCRL
Stock exchange major BSE on Wednesday said that its subsidiary BSE Investments Ltd (BSEIL) has acquired a 24 per cent stake in CDSL Commodity Repository Ltd (CCRL).
Maruti Suzuki to increase prices across models
Automobile major Maruti Suzuki India on Wednesday said that it will increase prices across various models in August 2018 due to the rise in commodity cost.
L'Oreal grows natural cosmetics focus with vegan firm Logocos
PARIS (Reuters) - Cosmetics group L'Oreal said on Wednesday it had bought Germany's Logocos Naturkosmetik, a manufacturer of vegan beauty products increasingly in vogue with the French group's customers.
Ex-shareholders in Ukraine's PrivatBank say disproving some fraud allegations is complicated
LONDON/KIEV (Reuters) - Lawyers representing two former owners of Ukraine's biggest lender PrivatBank denied on Wednesday all allegations of fraud made by the bank but said proving that $248 million was not misappropriated would be complicated.
Oil falls on rising supply and concern about trade tensions
NEW YORK (Reuters) - Oil prices fell on Wednesday as a surprise increase in U.S. crude stockpiles fed concerns about global oversupply, while investors continued to worry that trade tensions could hit energy demand.
Diesel cars fall out of fashion in Spanish green drive
MADRID (Reuters) - Sales of diesel cars in Spain plunged in July, data showed on Wednesday, as public opinion turned sharply against a fuel which could lose its favourable tax treatment under a new Socialist government.
NCLAT allows bidders of Bhushan Power to revise offers by Monday
The National Company Law Appellate Tribunal today allowed all three bidders for debt-ridden Bhushan Power & Steel -- Tata Steel, Liberty House and JSW -- to file revised offers by August 6, a day after lenders picked the Tata Group company as the highest bidder. Passing an interim order, the appellate tribunal said that all the three contenders could upgrade their offer. The NCLAT was hearing a plea filed by Tata Steel challenging the revision of bid by JSW Steel on July 27 ahead of the meeting of the Committee of Creditors (CoC) to finalise vote on offers for the debt-ridden company. The CoC in its meeting yesterday selected Tata Steel as the highest bidder (H1) for Bhushan Power & Steel (BPSL). Meanwhile, the NCLAT today directed the Committee of Creditors (CoC) to take a decision over the revised bids and keep it in a sealed cover. "All resolution applicants can submit their revised offer by Monday, said a NCLAT bench headed by Chairman Justice S J Mukhopadhaya. The bench ..
Cabinet nod to policy for exploiting unconventional hydrocarbons
The Union Cabinet on Wednesday approved a policy framework for hydrocarbons' exploration, permitting private companies to exploit unconventional hydrocarbons, including shale gas and coal bed methane (CBM), from their existing acreages.
Exclusive: California utility PG&E calls in debt restructuring lawyers - sources
(Reuters) - PG&E Corp has hired law firm Weil, Gotshal & Manges LLP to explore debt restructuring options, people familiar with the matter said on Tuesday, as California's biggest utility grapples with liabilities stemming from last year's wildfires in the state that analysts estimate could exceed $8 billion.
Prada shows off new growth phase with rising sales, profits
MILAN (Reuters) - Prada paved the way for a "new phase" of growth on Wednesday after the fashion brand reported rising sales, profit and income in the first half of the year.
U.S. Treasury proposes rules on repatriating overseas corporate income
WASHINGTON (Reuters) - The U.S. Treasury on Wednesday unveiled proposed regulations governing the repatriation of more than $2.6 trillion in U.S. corporate foreign income, a move experts see as a vital step in returning the money to U.S. soil.
Goa: Sardesai refutes uncontrolled land conversion charge
Goa Town and Country Planning Minister Vijai Sardesai today refuted allegations that the state government was favouring the construction industry by allowing uncontrolled conversion of land. The minister said the growth in the construction industry is usually reflected in the collection of the infrastructure tax, which is collected by the Town and Country Planning (TCP) department. The collection figures for the last three financial years are showing a downward trend, he said. "The TCP department had collected Rs 72 crore in the infrastructure tax in fiscal 2016-17 and Rs 39 crore in FY 2017-18. In the current financial year, we have collected Rs 15 crore in infrastructure tax," he said. This could be because of implementation of RERA or due to "over activism", he said, adding that the construction industry is "on the rocks" in the state. The minister said the confidence of investors in Goa is going down due to various factors, which should not happen. "Goans should not ..
RK Group launches home finance co
RK Group today announced its foray into the retail housing finance business with the launch of Wonder Home Finance Limited. The company will offer home loans and financial assistance for repair and renovation of homes as well as MSME business loans. A company official said it has already opened 9 branches in Jaipur, Udaipur, Bikaner, Jodhpur, Chittorgarh and Rajsamand. "We are setting up 29 branches in Rajasthan, covering approximately 70 per cent households in the state by recruiting over 400 people for this specific market in the first year of operation. "By the end of current fiscal year, we expect to begin our services in other states including Gujarat, Maharashtra and MP," Sanjay Singh Rajawat,director and CEO of Wonder Home Finance Ltd, said here. Ashok Patni, chairman of the Ajmer-headquartered RK Group, said the company aims to deliver unified financial services to people.