Page 3297 - Business Finance
Pfizer Inc to split company into three units
(Reuters) - U.S. drugmaker Pfizer Inc said on Wednesday it would split its business into three units and one of them would include a new hospital business segment.
Thyssenkrupp chairman rules out sale of elevator unit - Die Zeit
FRANKFURT (Reuters) - Thyssenkrupp's supervisory board chairman lashed out at activist shareholders following the resignation of Chief Executive Heinrich Hiesinger, saying in an interview that the group had no plans to sell its prized elevators unit.
Nifty July futures at small discount
Turnover on NSE's F&O segment rises
Morgan Stanley PE, Banyantree invest $75 mn in Nspira
Education services company Nspira today said it has raised USD 75 million by selling an undisclosed stake to Morgan Stanley Private Equity and Banyantree Growth Capital II. The fund infusion will be used by the Hyderabad-based company for its organic and inorganic growth plans, an official statement said. The infusion includes USD 67 million investment from a fund managed by Morgan Stanley Private Equity Asia for a "minority stake", the statement said. "We will be deploying the funds to scale our business geographically, increase our client base, develop cutting edge education products, modernise our facilities and scale up our digital business," Nspira's managing director Puneet Kothapa said. The company will also "opportunistically" look at inorganic opportunities synergistic with core business and diversifying offerings, he added. "We believe private education in India is poised for a strong growth phase, driven by the large demand-supply gap for quality education as
RBI net sold $5.8 billion in spot forex in May - bulletin
MUMBAI (Reuters) - The Reserve Bank of India (RBI) net sold $5.8 billion in the spot forex market in May, compared with $2.5 billion in April, according to data published in its monthly bulletin on Wednesday.
Equity indices end flat on weak global cues, trade tensions
Amid volatility, the key Indian equity indices settled flat on Wednesday tracking weak global cues.
Orient Paper & Industries to hold board meeting
On 1 August 2018
CIAN Agro Industries & Infrastr. to table results
On 12 July 2018
Shilpa Medicare shares surge nearly 12 pc
Shares of Shilpa Medicare today rose sharply by nearly 12 per cent after the company said the US health regulator has issued an establishment inspection report (EIR) for its Raichur facilities in Karnataka. The company's stock surged 10.10 per cent to settle at Rs 422.25 on the BSE. Intra-day, it zoomed 13.14 per cent to Rs 433.90. On the NSE, shares of the company soared 11.53 per cent to close at Rs 425.55. The company's market valuation surged Rs 316.47 crore to Rs 3,442.47 crore. "We are in receipt of EIR (establishment inspection report) from the US Food and Drug Administration (USFDA) to our both API manufacturing facilities located at Raichur, Karnataka," Shilpa Medicare said in a BSE filing. This inspection was carried out between January 16-19, 2018. The inspection has now been closed by the USFDA, it added. USFDA gives EIR on closure of inspection of an establishment that is the subject of an FDA or FDA-contracted inspection.
Sensex finishes flat; IT stocks firm
(Reuters) - Indian shares ended largely unchanged on Wednesday as threats of a new tariff imposition on Chinese goods by the United States hurt sentiment, but losses were curbed as technology stocks such as Tata Consultancy Services Ltd gained after posting a record quarterly net profit.
Oppn blames Sena-BJP rift for Maha's low rank in ease of doing
The opposition today alleged that poor coordination between the ruling BJP and Shiv Sena and corruption has led to Maharashtra's slide in the ease of doing business rankings. Maharashtra has slipped from 10th position to 13th in the country in the ease of doing business survey by the World Bank and Department of Industrial Policy and Promotion (DIPP). Targeting the Devendra Fadnavis-led government, state Congress chief Ashok Chavan asked in Marathi, "Kuthe neun Maharashtra majha (where they have taken my Maharashtra)?" Notably, the BJP had used the same tag-line to target the previous Prithviraj Chavan-led government ahead of the 2014 state Assembly polls. The states which earlier lagged behind Maharashtra have moved ahead of it, Ashok Chavan pointed out. "Jharkhand (ranked fourth in the list) has surpassed Maharashtra, which was number one during our regimes...this is all because of poor co-ordination between the BJP and the Shiv Sena," he told PTI over phone from Bhor ..
Fox raises Sky bid in battle with Comcast
Rupert Murdoch's 21st Century Fox today increased its takeover offer for Sky, valuing the pan-European TV group at 24.5 billion pounds and trumping Comcast's rival bid. 21st Century Fox's improved approach is for the 61 per cent of Sky it does not own. New York-listed 21CF raised its offer to 14 pounds for each outstanding share, up substantially on a previous tilt that was pitched at 10.75 pounds. Following the announcement, Sky's share price was down 1.4 per cent at 14.81 pounds, though above the improved offer with analysts betting on an extension to the bidding war. "Fox coming back in for Sky isn't a surprise in itself, but the fact the offer is slightly behind what some had anticipated brings another twist," said George Salmon, equity analyst at Hargreaves Lansdown. "In fact, there's every chance it might entice another counter from Comcast. That might explain why the shares still trade above the latest offer price." Fox's new bid values the whole of Sky at 24.5 billion pounds ..
Japan Nikkei tumbles 1.2% on latest tariff news
The United States government decided to impose the extra tariffs after efforts to negotiate a solution to the dispute failed to reach an agreement. The Trump administration raised the stakes in its trade war with China on Tuesday, saying it would slap 10% tariffs on an extra $200 billion worth of Chinese imports.
Hong Kong Hang Seng falls as Sino-US trade war fears mount
The United States government decided to impose the extra tariffs after efforts to negotiate a solution to the dispute failed to reach an agreement. The Trump administration raised the stakes in its trade war with China on Tuesday, saying it would slap 10% tariffs on an extra $200 billion worth of Chinese imports.
Monsoon woes now an annual affair in Mumbai
It has now become an annual affair. Monsoon rains mean flooding of Mumbai and troubles for the public. Every year, the country's financial capital is paralysed as roads and rail tracks get submerged whenever it receives heavy rains during the monsoon, raising questions over the civic body Brihanmumbai Municipal Corporation's preparedness. A similar thing happened during the last two days even after the civic body's claims of spending thousands of crores to rid the city of the recurring problem of flooding. According to the Shiv Sena-ruled BMC which is considered the richest civic body in the country, it spent Rs 2,007 crore between 2005 and 2016 to overhaul the storm water drainage network under its Brimstowad project. Even for the current fiscal year of 2018-19, the BMC has provisioned the budget of Rs 565.55 crore to accelerate the flood-abatement program. However, as the problems continue to recur, the baffled citizens and experts blame the lack of proper planning for ..
U.S. regulator shelves reform on voting in board fights-sources
NEW YORK/WASHINGTON (Reuters) - The U.S. securities regulator has shelved a proposed Obama-era reform that would have given shareholders in companies more freedom to vote for their preferred candidates during contested board elections, people with direct knowledge of the matter told Reuters.
Essential to make India's growth inclusive: President to prob civil servants
The Central government services offer an "enormous platform" to serve the nation and it is essential for officials to make the country's growth inclusive, President Ramnath Kovind today told a group of probationary officers from various civil services. The President made the remark while addressing trainee officers of Indian Defence Estates Service, Indian Telecommunication Service and P&T (Post and Telegraph) Building Works Service, who called on him at the Rashtrapati Bhavan. Kovind told the officers on probation that their respective services provide them an "enormous platform for serving the nation." You will be responsible for managing important projects in different domains and serve crucial sectors such as Defence and Telecommunications, the President said. "Few jobs offer a chance to work in an office where everything that they do, can be an act of service to the nation," he said. Talking about telecommunications, Kovind said India has the world's second largest telecom ...
China: Stocks tumble 1.8% as US ramps up trade row, threatens new tariffs
The United States government decided to impose the extra tariffs after efforts to negotiate a solution to the dispute failed to reach an agreement. The Trump administration raised the stakes in its trade war with China on Tuesday, saying it would slap 10% tariffs on an extra $200 billion worth of Chinese imports.
itel to launch dual rear camera smartphone for Rs 7,500
China-based Transsion Holdings' itel Mobile is all set to launch its first smartphone with dual rear camera in India on July 17.
Pakistan didn't ask for more loans for CPEC: China
China on Wednesday rejected as "totally false" a report about Islamabad approaching Beijing for more loans to keep the multi-billion dollar China-Pakistan Economic Corridor (CPEC) going.