Page 3292 - Business Finance
Trump not satisfied with increased defense spending by NATO allies
United States President Donald Trump on Wednesday stated that although there has been an increase in the defense budgets of several NATO allies after his 'request', the hikes are not 'nearly enough.'"Billions of additional dollars are being spent by NATO countries since my visit last year, at my request, but it isn't nearly enough. U.S. spends too much. Europe's borders are BAD! Pipeline dollars to Russia are not acceptable!" he tweeted.The tweet came after he attended the annual NATO summit in Brussels, where he delivered blistering criticisms of key U.S. allies and insisted that Washington was bearing an unfair share of Europe's defense costs, reported The Hill.Earlier in the day, he pushed allies at the NATO summit to enhance their military spending from two to four percent of Gross Domestic Product (GDP), a goal that not even Washington currently meets.NATO members agreed in 2014 to move toward spending at least two percent of their GDP on defense by 2024.Trump has repeatedly ...
Embraer counts on Brazil's public-sector funds to approve Boeing JV: sources
SAO PAULO (Reuters) - Planemaker Embraer SA is counting on the votes of public-sector Brazilian shareholders to outweigh any potential investor objections to its tie-up with Boeing SA , two people with knowledge of the matter said.
Walmart plans to sell Japanese supermarket chain Seiyu: Nikkei
TOKYO (Reuters) - U.S. retailer Walmart Inc has decided to sell Japanese supermarket chain Seiyu and has already approached major retailers and private equity funds, the Nikkei business daily reported on Thursday.
China vows to hit back over U.S. proposal for fresh tariffs
BEIJING/WASHINGTON (Reuters) - China accused the United States of bullying and warned it would hit back after the Trump administration raised the stakes in their trade dispute, threatening 10 percent tariffs on $200 billion of Chinese goods in a move that rattled global markets.
Asia stocks sag on trade war fears, dollar buoyant
TOKYO (Reuters) - Asian stocks remained under pressure on Thursday from fears of an escalation in the U.S.-China trade war, while the dollar stood stall after rallying against its peers amid the turmoil in broader markets.
Comcast raises bid for Sky to $34 billion, tops Fox's offer
LONDON (Reuters) - Comcast Corp on Wednesday raised its all-cash offer for Britain's Sky to $34 billion, topping a raised bid of $32.5 billion for the pay-TV group from Rupert Murdoch's Twenty-First Century Fox .
OPEC data show Venezuela oil output in free fall
Venezuelan oil production crashed to a new 30-year low of 1.5 million barrels a day in June, the Organisation of the Petroleum Exporting Countries (OPEC) said today. The South American nation earns 96 per cent of its revenue through oil sales but a lack of foreign exchange has sparked economic paralysis that has left the country suffering serious shortages of food and medicine. The government of socialist President Nicolas Maduro has told state oil company PDVSA to increase production in the country which sits atop the world's largest reserves of crude. According to the International Monetary Fund (IMF), Venezuela's economic collapse is one of the worst in modern history. The economy has shrunk 45 percent since 2013 and the IMF expects it to contract 15 per cent in 2018 alone, with inflation reaching 13,800 per cent. Only once during the last 30 years did crude production dip lower, but that was during a brief industry strike from December 2002 to February 2003. Maduro's government ...
Wall St snaps 4-day rally; latest trade threat weighs
NEW YORK (Reuters) - U.S. stocks fell on Wednesday, breaking a four-session streak of gains after Washington's threat to impose tariffs on an additional $200 billion worth of Chinese goods fanned trade war fears, while a sharp drop in oil prices hit energy shares.
Wall Street on track to snap 4-day rally; latest trade threat weighs
NEW YORK (Reuters) - U.S. stocks looked set on Wednesday to snap a four-day winning streak after Washington's threat to impose tariffs on an additional $200 billion worth of Chinese goods fanned trade war fears, while a sharp drop in oil prices hit energy.
Sebi did not exempt family trust from open offer requirement: Max group firms
Two Max Group companies today informed stock exchanges that Sebi has not provided exemption to Neeman Family Foundation from making open offers to respective shareholders post rejig of promoters' holdings. On Tuesday, Sebi rejected request of Neeman Family Foundation Trust -- a trust of Max Group promoter Analjit Singh -- to exempt it from making open offers for the two companies' shareholders. In separate filings, Max India and Max Ventures and Industries Ltd said that Analjit Singh and family continue to own and control the entire shareholding held by the promoter entities. This is even after proposed consolidation and the benefit of the exemption granted to Max Financial Services should have been made available with respect to the two companies, as per the filings. The two companies submitted a communication from Max Ventures Investment Holdings Pvt Ltd, a promoter group entity, as per the filings. The promoters also wish to clarify that Sebi has not mandated an open offer ...
Trump urges NATO allies to boost defence spending to 4% of GDP
US President Donald Trump used the NATO summit today to urge the Atlantic allies to boost defence spending to four percent of their countries' GDP, his spokeswoman said. The figure is twice what the allies have already pledged to reach by 2024. "He suggested that countries not only meet their commitment of two percent of the GDP on defence spending, but that they increase it to four percent," Sarah Sanders said.
China says will hit back after U.S. proposes fresh tariffs on $200 bln in goods
BEIJING/WASHINGTON (Reuters) - China accused the United States of bullying and warned it would hit back after the Trump administration raised the stakes in their trade dispute, threatening 10 percent tariffs on $200 billion of Chinese goods.
Nasscom hosts summit on big data, analytics in Bengaluru
Indian IT industry's apex body Nasscom on Wednesday unveiled the 6th edition of its Big Data and Analytics here to highlight their disruptive role in development of AI (Artificial Intelligence) worldwide.
Bank of Canada raises rates, says more hikes to come
OTTAWA (Reuters) - The Bank of Canada raised interest rates on Wednesday as expected and signaled more rate hikes to come, saying that while mounting trade tensions with the United States were a concern, their impact on growth and inflation looked modest so far.
HIL board approves acquisition of German firm through arm
The board of HIL today gave its approval to acquire the entire stake in Parador Holdings GmbH, Germany, through the company's wholly-owned subsidiary. The enterprise value of Parador Holdings GmbH is 82.8 million euros (around Rs 687.2 crore). "Pursuant to the said approval of the Board, the Company and HIL International GmbH, Germany have entered into a 'Sale and Purchase Agreement' with the shareholders of Parador Holdings GmbH, Germany," HIL said in a regulatory filing. The CK Birla Group firm is a building solutions provider and a leading manufacturer of fibre cement roofing sheets.
Global Markets: Stocks, metals hit by new U.S.-China trade war salvo
NEW YORK (Reuters) - Stocks fell and metals prices slumped on Wednesday as U.S. threats of tariffs on an additional $200 billion worth of Chinese goods pushed the world's two biggest economies closer to a full-scale trade war.
Syska enters into wire, cable segment
Homegrown Syska Group has forayed into wires and cables segment, and has roped in Bollywood actor Amitabh Bachchan to create space in Rs 12,000 crore market. Initially, Syska will enter the wires and cables sector in the west region and will later expand spread over to rest of the country, the company said. "We can see exponential opportunities for wires & cables business in India. The household wire segment is a 12,000-crore market and the segment is expected to boom with growing demand for power and light," Syska Group Director Rajesh Uttamchandani said. Syska has made a investment of Rs 75 crore to set up the fourth manufacturing plant in Rewari (Haryana), which will be used for manufacturing various types of wires and cables.
Sustainable development not possible unilaterally: India at UNCTAD conference
Sustainable development cannot be achieved unilaterally by any one country or by ignoring a significant economic or social group, said India at a UNCTAD conference, an official statement said.
Competition Comm slaps Rs 22 cr fine on Essel Shyam Communication
The Competition Commission has imposed a penalty of Rs 22.36 crore on Essel Shyam Communication, now known as Planetcast Media Services, for bid-rigging in tenders floated by sports broadcasters, including for Indian Premier League in 2012. The quantum of fine on the company and its officials were reduced by the regulator under lesser penalty provisions of the Competition Act, an official release said today. The matter of bid rigging in tenders floated by sports broadcasters was taken up by the Competition Commission of India (CCI) on the basis of disclosures by Globecast India Pvt Ltd and Globecast Asia Pvt Ltd. Subsequently, Essel Shyam Communication Ltd (ESCL) also approached the regulator as a lesser penalty applicant during investigation. Globecast, a subsidiary of the Orange Group, is a provider of broadcasting services and ESCL is a technology service provider with specialisation in media broadcasting. They had indulged in "bid-rigging in tenders floated by sports broadcasters
Pakistan can overcome temporary financial difficulties: China
A Chinese official said on Wednesday that China believes Pakistan can overcome temporary difficulties in foreign exchange reserves and maintain stable economic development.