Page 3268 - Business Finance
Kesoram looking for partner for its tyre business
Kesoram Industries Ltd, which says it will continue to focus on commercial vehicle bias tyres, is looking at inducting a strategic partner for its tyre business, an official said on Friday.
Chidambaram slams government over 'economic mismanagement'
Senior Congress leader P. Chidambaram on Friday slammed the government over its poor management of economy, saying inflation is at five-month high, industrial growth at five-month low and the trade deficit has soared.
Wells Fargo's loan book shrinks, profit misses estimates
(Reuters) - Wells Fargo & Co said on Friday its loan book shrank and it raked in less fee revenue than a year ago, factors that contributed to lower-than-expected quarterly profit and sent its shares lower.
Gold, silver slide to seven-month lows as dollar climbs
NEW YORK/LONDON (Reuters) - Gold and silver prices slid to seven-month lows on Friday as the dollar rose to a two-week peak, buoyed by safe-haven purchases made in an ongoing U.S.-China tariff trade war. Demand for the precious metals also waned on expectations of higher U.S. interest rates.
U.S. banks gain from Washington policy changes but trade worries loom
NEW YORK (Reuters) - Second-quarter earnings reports from three of the biggest U.S. banks on Friday showed the sector is benefiting from policy changes in Washington that have lowered their taxes, boosted interest rates and allowed them to buy back more stock.
Comcast to pay advisers as much as 243 million pound in fees for Sky takeover
LONDON (Reuters) - Comcast expects to pay the banks, law firms and other advisers on its 25.9 billion pound ($34.23 billion) bid for Sky as much as 243 million pounds if it wins the battle for the British broadcaster, the U.S. cable giant said on Friday.
Papa John's is pulling founder's image from its marketing
Papa John's, which has featured founder John Schnatter in logos and TV ads, is pulling his image from its marketing after reports he used a racial slur. His face was off at least some materials by late morning today, though the company said the details and exact timing for everything were still being worked out. The pizza chain said there are no plans to change its name. Schnatter,who has long been the face of the brand, is still on the board and is the company's largest shareholder meaning he remains a key presence. Papa John's has acknowledged in regulatory filings that its business could be hurt if Schnatter's reputation was damaged. Papa John's got a taste of that last year, when Schnatter stepped down as CEO after blaming disappointing pizza sales on the outcry surrounding football players kneeling during the national anthem. This week, Papa John's was already trying to further publicly distance itself from Schnatter after Forbes reported he used the N-word during a conference ...
Oil rises but set for second weekly fall as supply concerns ease
NEW YORK (Reuters) - Oil prices rose about 1 percent on Friday as strike actions in Norway and Iraq hit supplies, but futures were set for a second straight week of decline after Libyan ports reopened and on the view that Iran might still export some crude despite U.S. sanctions.
S&P hits 5-month high as industrials, energy boost; banks weigh
(Reuters) - The benchmark S&P 500 hit a more than five-month high on Friday as gains in industrials and energy companies offset a drop in financials after a mixed bag of quarterly results from three big Wall Street banks.
Essar commissions Rs 830-cr Vizag iron ore handling complex
The Essar Group subsidiary Essar Vizag Terminal Ltd (EVTL) said on Friday that it has commissioned the India's largest iron ore handling complex at Visakhapatnam port built at a cost of Rs 830 crore.
Gold slides to seven-month lows as dollar climbs
LONDON (Reuters) - Gold prices slid to seven-month lows on Friday as the dollar rose due to easing trade tensions and weak demand for the precious metal on expectations of higher U.S. interest rates.
Wells Fargo profit misses estimates on hefty expenses, decline in loans
(Reuters) - Wells Fargo & Co posted a quarterly profit that fell short of analyst estimates on Friday as expenses increased due to former missteps and lending activity dropped, sending its shares down 4 percent in early trade.
Industrials, energy push S&P to 5-month high; banks weigh
(Reuters) - The benchmark S&P 500 edged back to five-month highs on Friday as gains in industrials and energy companies more than offset a drop in financials after a mixed bag of quarterly reports from three big Wall Street banks.
Lufthansa, Ryanair row over planes for Austrian carrier Laudamotion
FRANKFURT (Reuters) - Lufthansa plans to end an agreement to lease planes to Laudamotion, saying the Austrian holiday airline has failed to meet payments, leading to a dispute with its backer Ryanair.
Infosys net up 3.7% in first quarter
Global software major Infosys on Friday reported Rs 3,613 crore consolidated net profit for the first quarter of fiscal 2018-19, registering a 3.7 per cent annual growth from Rs 3,483 crore in the same period year ago.
U.S. ban on China's ZTE lifted
(Reuters) - The U.S. Department of Commerce on Friday lifted a ban on U.S. companies selling goods to ZTE Corp, allowing China's second-largest telecommunications equipment maker to resume business.
Siemens, Alstom rail merger triggers EU concerns and investigation
BRUSSELS (Reuters) - Siemens and Alstom's plan to create a Franco-German rail champion could reduce competition and lead to higher fares for travellers, EU antitrust regulators said on Friday as they opened a full-scale investigation into the deal.
Asian countries needs to urgently focus on developing core infra: Asian Business Summit
The Asian countries need to urgently focus on developing core infrastructure such as electric power, communication, roads and railways to promote economic activities and push growth of this region. This was emphasised in the Asian Business Summit, which was organised by Japan-based business chamber Keidanren and CII in cooperation with major economic organisations in Asia. The summit adopted a joint statement which states common commitment of the Asian businesses towards pushing the overall economic growth of the region, industry body CII said. To realise the common commitments, it said Asian countries need to work on promoting global trade, improve infrastructure, innovation and training of human resources. "In Asia, it is urgent to develop core infrastructure, such as electric power, communication, roads, railways, water supply and sewerage, ports and airports. These facilities are the foundation of economic activities and people's livelihood and also support inclusive growth," the .
Govt extends duty benefits for exports of certain dairy, agri products
The government today increased as well as extended duty benefits to certain agriculture and dairy sector items under a scheme to boost their exports. The duty benefits were enhanced and extended under the Merchandise Export from India Scheme (MEIS). Commerce Minister Suresh Prabhu in a tweet said that: "MEIS incentives introduced/increased for milk/dairy sector, onion and deoiled soya cake for the benefit of milk producers, farmers". The new products which would avail the MEIS benefit includes skimmed milk, milk food for babies, whole milk, condensed milk, yoghurt, buttermilk, dairy spreads, butter oil, fresh cheese and casein. These items would get MEIS export benefits at the rate of 10 per cent till January next year from today onwards. On the other hand, MEIS rates were enhanced to nine agri products such as fresh onion, butter, ghee and processed cheese. Under this scheme, the government provides duty credit scrip to exporters. The rates vary from product to product and and the ...
NSE to conduct mock trading session for NMF II platform
National Stock Exchange (NSE) today said it will conduct five mock trading sessions for migration from existing web-based MFSS system to a new mutual fund platform. The mock session starts on July 16 ending on July 20 and the timing would be from 10:30 to 16:00 hrs, NSE said in a circular. "....Web Based MFSS platform shall migrate to New Mutual Fund (NMF-II) platform and thereafter Only NMF - II platform shall be available for transactions in MFSS," NSE said. The go live date for migration from MFSS to NMF - II Platform shall be intimated separately, added NSE. MFSS platform is for facilitating mutual fund transactions by its members while New Mutual Fund (NMF II) is a platform for facilitating transactions in mutual fund by distributors. NMF II is an online platform which facilitates subscription, redemption, Systematic Investment Plan (SIP), Systematic Withdrawal Plan (SWP), Systematic Transfer Plan (STP), Switch and other transactions of mutual fund units. This is in line with the