Page 3282 - Business Finance
Tesla hits 200,000 cars, meaning lower tax credit for buyers
(Reuters) - Tesla Inc has delivered 200,000 electric cars to buyers in the United States, a spokesperson said on Thursday, meaning tax credits will now begin to be lowered, while rivals such as Mercedes-Benz, BMW AG and Audi AG will bring electric models to the market with a full tax credit in place.
June retail inflation at 5%, May industrial output declines (Roundup)
Retail inflation in India touched the 5 per cent mark in June, compared to 4.87 per cent in May, even as industrial output in May grew at 3.2 per cent over the same month last year but declined as compared to rise of 4.9 per cent in April mainly on account of a decline in manufacturing, official data showed on Thursday.
No bidders for Sahara's Aamby Valley, auction has failed, SC told
The Supreme Court on Thursday was told that the auction of Sahara group's flagship project Aamby Valley in Maharashtra has failed as there were no bidders in response to the notice inviting tenders.
Iran says U.S.-caused oil spike will slow growth, add to tariff impact
LONDON (Reuters) - A rise in oil prices caused by the United States' sanctions policies will hurt economic growth in China, Europe and other consumers, much like President Donald Trump's trade measures, a top Iranian official said on Thursday.
States' ease of doing biz ranking: DIPP to give clarification to Gujarat
The Department of Industrial Policy and Promotion (DIPP) will send a detailed clarification to the Gujarat government on questions raised by it over ease of doing business rankings which assigned the state fifth position. Gujarat slipped two positions to rank fifth in the ease of doing business ranking among all the states and Union Territories. It was prepared by the World Bank and the DIPP. The state topped the chart in 2015. Questioning the methodology of DIPP-World Bank ranking, the state has sought clarification. "We are giving them a detailed reply with annexure to Gujarat," DIPP Secretary Ramesh Abhishek told reporters here. A Gujarat government official had pointed out that despite having higher feedback score of 83.64 per cent as compared to Haryana (82.9 per cent) and same reform evidence score (99.73 per cent), Gujarat was placed two notches lower. Further when asked about the lower rank of Delhi in the latest 2017 report, the secretary said that parameters are different ...
Wall Street rebounds as technology, industrial stocks rise
(Reuters) - Technology and industrial stocks led Wall Street higher on Thursday as some big deals and optimism about the earnings season helped offset fears about a U.S-China trade war.
Timeline: Broadcom's ambitious deal history under CEO Hock Tan
(Reuters) - Broadcom Ltd made an $18.9 billion bid for software firm CA Inc on Wednesday, the latest in the company's acquisition spree aimed at diversifying beyond semiconductors.
UK's Brexit plan called 'real blow' to City
The British government's new blueprint for Brexit today drew a firm thumbs-down from the City, which warned it would damage both the all-important finance sector and the wider economy, but industry appeared happier. The government, partly to avoid the return of a "hard border" between the Republic of Ireland and British-ruled Northern Ireland, has been at pains to map out a future customs plan to govern post-Brexit trade in goods with the European Union. But its new "white paper" gave little detail about the future of services, which account for 80 percent of the UK economy, including 2.2 million people employed in Britain's world-class financial sector. "Today's Brexit white paper is a real blow for the UK's financial and related professional services sector," said Catherine McGuinness, policy chairman of the City of London Corporation, which administers the capital's finance-heavy Square Mile district. "With looser trade ties to Europe, the financial and related professional ...
MSEDCL proposes 5-6% rise in power tariff for FY19
In a major shock to consumers of crisis-hit MSEDCL, the state electricity utility has proposed a 5-6 per cent increase in tariffs for the current fiscal year to recover the revenue gap of over Rs 30,000 crore. On the contrary, other power utilities supplying electricity in the megapolis including the BrihanMumbai Electric Supply and Transport Undertaking (BEST), Tata Power and Reliance Energy have proposed a reduction in tariff for the period. All the four companies have recently submitted their revised multi-year tariff (MYT) plans to the Maharashtra Electricity Regulatory Commission (MERC) for approval. As per the MYT plan, the Maharashtra State Electricity Distribution Company (MSEDCL) has proposed an overall increase of 15 per cent in tariffs to recover revenue deficit of Rs 30,842 crore. For the consumers in the below poverty line category, MSEDCL has proposed one per cent increase in tariff from Rs 1.06 to Rs 1.07, while for those consuming power up to 300 units, .
Rs 80,000 crore investment materialised during past 4 yrs: Haryana Min
A total investment of Rs 80,000 crore has has materialised in Haryana during the tenure of the present BJP-led government, state Industries and Commerce Minister Vipul Goel said today. "A total of nearly Rs 80,000 crore investment has materialised," Goel said here. The M L Khattar-led government had come to power in Haryana in October 2014. He said that the state government organised 'Happening Haryana, Investment Summit' in 2015 and 'Pravasi Haryana Diwas' in 2016, in which investors all across the globe participated. "A large number of MoUs were signed during both the events. Total 494 MoUs have been signed during Happening Haryana Event and onwards. Of these, on 173 MoUs, the project has either been implemented or is under implementation. The actual investment in these cases alone is about Rs 14,314 crore with employment opportunities for 25,923 persons," he said. He said that despite lack of natural resources and Haryana being landlocked the performance of the state on the ..
Sky shares leap as Comcast and Fox lock horns in bid battle
LONDON (Reuters) - Sky shares leapt to an 18-year high on Thursday as investors bet a transatlantic battle for the European pay-TV group had further to run, after Comcast's $34 billion bid trumped an offer from Rupert Murdoch made just hours earlier.
Rupert Murdoch's Fox cleared for Sky takeover bid
The Britain government on Thursday cleared media mogul Rupert Murdoch's move to buy Sky News, removing the final regulatory obstacle to a head-to-head battle between his 21 Century Fox and US rival Comcast for the European pay-TV.
HCL Technologies to buy back shares worth Rs 4,000 cr
The board of IT major HCL Technologies on Thursday approved the buy back of upto 3,63,63,636 equity shares of Rs 2 face value at Rs 1,100 per share for about Rs 4,000 crore.
Vakrangee partners with Reliance Nippon Life Asset Management
For distribution of mutual fund products
Allahabad Bank mulls reducing stakes in JV, associate cos to trim bad assets
Public sector Allahabad Bank today said it is mulling to off-load non-core assets like shareholding in various joint ventures and sell immovable properties to shore up its capital base. In compliance with government directives under PSBs Reform Agenda, the bank has initiated various steps to leverage its strengths for focussing on the core business, Allahabad Bank said in a regulatory filing. "As part of the said initiatives, the bank proposes to sell its non-core assets including divestments of stake in joint ventures, associates, selling some of the immovable properties owned by the bank," it said. The lender's gross non-performing assets (NPAs) hit a high of 15.96 per cent of the gross advances as on March 31, 2018 which in value terms stood at Rs 26,562.76 crore. Net NPAs were 8.04 per cent of the net advances at Rs 12,229.13 crore. Allahabad Bank holds 27.04 per cent in asset management company ASREC (India) Ltd, 28.52 per cent in Universal Sompo General Insurance ...
Gold falls as threat of more tariffs on China boosts dollar
NEW YORK/LONDON (Reuters) - Gold prices slipped on Wednesday as U.S. threat of tariffs on an additional $200 billion of Chinese goods pushed safe-haven flows to the U.S. dollar and dashed hopes that Washington would eventually step back from the escalating row.
CII, MOIBA signs MoU to enhance bilateral business
The Confederation of Indian Industry (CII) and Korean Mobile Internet Association (MOIBA) on Thursday announced that they have signed a MoU to promote business between Indian and South Korean industry.
Board of Alstone Textiles (India) approves change in director
At meeting held on 06 July 2018
UK clears way for 21st Century Fox to buy Sky
Britain today cleared the way for Rupert Murdoch's 21st Century Fox to take full control of pan-European TV giant Sky after Fox agreed to address media plurality concerns. Despite the clearance, satellite pay-TV group Sky could still end up being bought by Comcast or Disney amid a US media industry tug-of-war. "It is now a matter for the Sky shareholders to decide whether to accept 21CF's bid," Britain's Culture Secretary Jeremy Wright said in a statement. Fox's long-running pursuit for all of Sky had been plagued by UK government fears over media plurality and broadcasting standards -- and the influence of Australian-born US citizen Murdoch. Critics say that allowing Murdoch -- who owns major British newspaper titles The Times and The Sun -- full control of Sky News would give him too much influence in the UK news business. To remedy this, Fox has proposed to sell the rolling TV news channel to Disney should it win full control of Sky. The UK government's statement meanwhile comes ...
'Pvt gen insurance firms post higher growth than PSU players'
With a 55 per cent marketshare, private general insurance companies outpaced their public sector counterparts in 2017-18, growing at 22 per cent, according to a report. Overall general insurance grew at a slower rate of 17 per cent in FY18, where the private sector growth continued at a faster pace of 22 per cent compared to 13 per cent by the PSUs during FY18, Icra said in a report. Owing to the sizeable difference in growth rates, the share of the private players in the overall market improved to 55 per cent in FY18 from 53 per cent in FY17, it added. "Private players continued to lead the recovery in the industry with a year-on-year growth of 22 per cent in FY18 from a growth of 39 per cent in FY17. In FY18, the growth in private sector players was due to higher GDP from health and motor business," Icra group head, financial sector ratings, Karthik Srinivasan said. He said, private players will continue to display strong growth in motor and health. "Crop insurance ...