Page 3317 - Business Finance
BlackRock expands in Paris with new hires ahead of Brexit, source says
PARIS (Reuters) - BlackRock has increased its staff in Paris and is seeking to set up an alternative investment management business there, a source close to the company said on Monday, in another sign of the French capital's increasing post-Brexit appeal.
HPE could mitigate potential tariff impacts, CEO says
(Reuters) - Hewlett Packard Enterprise Co has the ability to boost existing manufacturing at a facility in Wisconsin if trade tensions with China persist, Chief Executive Antonio Neri said on Monday.
PE/VC investments up 46% in first half of 2018: EY
Private equity or venture capital investments clocked 46 per cent growth in the first six months of 2018 to $15.2 billion across 351 deals, on the back of strong buyout activity, investments in infrastructure and real estate asset classes, a report said on Monday.
Karnataka farmers protest, seek full crop loan waiver
Thousands of farmers across Karnataka on Monday protested against Chief Minister H.D. Kumaraswamy for not waiving crop loans fully as promised by him before the May 12 assembly elections.
Twitter says removal of fake accounts does not hurt user metrics
(Reuters) - Twitter Inc said on Monday it has removed fake accounts but that does not impact its reported user metrics as was indicated in a report by The Washington Post.
Modi govt has stopped politicization of railways: Goyal
Railway Minister Piyush Goyal today said the Narendra Modi government has stopped politicisation of the national transporter unlike the previous regimes, which did so to accrue political benefits. "The previous regimes had politicized railways for political benefits. In railway budgets, several absurd announcements were made without any planning. Trains were announced in areas where there are no tracks and infrastructure. "The Narendra Modi government has stopped the politicization of railways. Now no announcements are made without calculating the return, except in border areas where the matter of national security is concerned" he said. Goyal, who also holds the Union finance portfolio, said the Modi government has increased the railway capex, unlike the previous governments. On the question of revival of Burn Standard, Goyal said taxpayers money should not be wasted on the revival of Burn Standard as the government had given enough opportunities to the PSU unit for making a ...
Bank rally helps Wall Street as investors await strong earnings
(Reuters) - U.S. stocks rose on Monday, with banks and industrial stocks driving a third day of gains on Wall Street as investors looked ahead to a strong quarterly earnings season, setting aside trade concerns.
Oil prices mixed on Canadian outage update, U.S. sanctions on Iran
NEW YORK (Reuters) - Oil prices were mixed on Monday, with U.S. crude lower on news about the timeline for the end of a major Canadian production outage, while global benchmark Brent gained on looming sanctions on Iran and falling production in Libya.
Tesla raises car prices in China amid trade war - Electrek
(Reuters) - Tesla Inc has raised prices on its Model X and S cars by more than $20,000 in China, automotive news website Electrek reported on Monday, making it one of the first U.S. carmakers to hike prices in the wake of rising trade tensions.
Ratan Tata hails NCLT decision
Tata Trusts chairman Ratan Tata on Monday welcomed the National Company Law Tribunal (NCLT) verdict that dismissed the petitions of former Tata Group chief Cyrus Mistry against Tata Sons.Tata Trusts owns over 60 percent in the Tata Sons while Mistry family owns over 18 per cent in the business group.Ratan Tata, in a statement, said, "Judgement of NCLT, delivered today has been a vindication of actions that Tata Sons felt obliged to take in Oct '16. It's a reinforcement of principles and forthrightness that prevails in our judiciary, which makes all of us proud of our country and its democracy."The NCLT on Monday rejected Mistry's petition challenging his dismissal as chairman of the business conglomerate.Mistry was ousted from the board of Tata Sons after a four-year stint in October 2016.Mumbai NCLT's division bench, headed by B.S.V. Prakash Kumar and V. Nallasenapathy, in an oral order, ruled that Cyrus was removed as Tata Sons chairman because shareholders lost trust in him.
Volkswagen to bring SEAT brand back to China in 2020/21
FRANKFURT (Reuters) - Volkswagen said its Spanish brand SEAT would return to the Chinese market in 2020/21 as part of an agreement with China's Anhui Jianghuai Automobile Group (JAC) to develop electric vehicles.
Nifty settles above 10,850, up 80 points on global cues
The Nifty 50 Index advanced by another 80 points to 10,852.90 on all-round buying mainly in energy, banking, metal, pharma and infra sectors as investors shifted focus to corporate earnings amid positive global cues. The Indian rupee strengthened against the US dollar, tracking gains in other Asian currencies ahead of key consumer price inflation data this week. Oil prices were pushed higher as the US dollar eased, global risk appetite improved after favourable US jobs data. Overseas, shares in Europe and Asia rose as investors set aside concerns about escalating trade tensions to prepare for the latest earnings season after signs of continued economic strength. The broader NSE Nifty rose by 80.25 points or 0.74 per cent to close at Rs 10,852.90 its highest closing level since June 13, 2018. It saw an intra-day movement of about 53.20 points. In the broader markets, NSE MidCap 100 and SmallCap 100 rose by 1.60 pct and 1.69 pct, respectively. Among the sectoral indices, Energy climbed .
Comcast lining up buyers for Fox sports assets: sources
(Reuters) - Comcast Corp is identifying potential buyers for Twenty-First Century Fox Inc's regional sports networks in an attempt to ease antitrust concerns about a new bid to acquire most of Fox's assets, people familiar with the matter told Reuters.
Piyush Goyal refutes Amit Mitra's allegations on GST refunds
Union Minister Piyush Goyal on Monday rubbished claims of West Bengal Finance Minister Amit Mitra on pending GST refunds of exporters.Goyal rejecting Mitra's statement said exporters were requested to collect their funds.He said, "From May 31 - June 31, all exporters were asked to come for a refund. Those whose refund amounted Rs 10 lakh got a self-certification and those whose refund was above Rs.10 lakh were asked to provide a CA certificate to get a refund. The State Government must be knowing about that."Mitra had remarked that the Centre has "horribly implemented" the Goods and Services Tax and now the "largest fiscal reform of is in a total mess."He further said that the Trinamool Congress, under the leadership of Mamata Banerjee had included GST in their manifesto in 2009 and even supported it in the parliament, but that party is shocked at the way GST has been implemented by the Centre.Mitra said, "We asked the Centre to not launch it on the July 1, but they did not listen ...
Siemens inks deal with Alibaba to launch digital products in China
ZURICH (Reuters) - Siemens has agreed with online giant Alibaba to use the Chinese company's cloud infrastructure to roll out its digital operating system MindSphere, the German engineering group said on Monday.
Prabhu, S Korean trade minister discuss ways to promote trade, investment
Commerce and Industry Minister Suresh Prabhu today hold bilateral discussions with his South Korean counterpart Kim Hyun-chong to promote economic ties. The ministers also reviewed the progress of negotiations of the India-Korea Comprehensive Economic Partnership Agreement (CEPA), the ministry said in a statement. "Both the ministers shared the view that both countries should strive towards achieving additional liberalization by upgrading CEPA in such a way that reflects the various interests and sensitivities of each side," it said. They also expressed satisfaction on the signing of the joint statement on early harvest package. The CEPA, a kind of free trade agreement under which both the countries have eliminated duties on several goods and relaxed norms to promote investments and trade in services, between the countries was implemented in January 2010 and is currently under revision. The bilateral trade between the countries has increased to USD 20.9 billion in 2017-18 from USD ...
Abdul Majid Mir ceases to be director of Jammu & Kashmir Bank
Jammu & Kashmir Bank today said Abdul Majid Mir has ceased to be the Director on the Board of the Bank with effect from July 7. In a filing to the BSE, the bank said the shareholders of the bank in their annual general meeting held on July 7, 2018 have not approved the re-appointment of Mir as Director. "Accordingly, Abdul Majid Mir has ceased to be the Director on the Board of the Bank with effect from July 7, 2018," J&K Bank said.
Bank, industrial stocks lift Wall St as investors await strong quarter
(Reuters) - U.S. stocks rose on Monday, with banking and industrial shares driving a third day of gains on Wall Street as investors looked ahead to a strong quarterly earnings season, setting aside trade concerns.
Steel, aluminium tariffs: India, US to hold talks in Geneva next week
India and the US will hold consultations next week in Geneva to deliberate upon the case filed by New Delhi in the WTO's dispute settlement mechanism over the imposition of high import duties on steel and aluminium by Washington, an official said. The consultations would be held under the aegis of World Trade Organization's (WTO) dispute settlement mechanism. A team of senior officials from the commerce ministry will lead the team. The US is holding the consultations with all the countries that have filed disputes on the issue in Geneva on July 19-20. Several countries including India, Norway, China and Russia have filed disputes on the subject against the US. In May, India dragged the US to the WTO dispute settlement mechanism over the imposition of import duties on steel and aluminium.. India has stated that the decision would impact exports of these products to the US and it is not in compliance with global trade norms. Seeking consultation is the first step of dispute settlement ..
Twitter shares fall after report says account suspensions to cause user decline
(Reuters) - Shares of Twitter Inc fell 9 percent on Monday after a report said the social media company had suspended more than 70 million fake accounts in May and June, which could lead to a decline of monthly active users in the second quarter.