Page 3344 - Business Finance
Thyssenkrupp CEO offers resignation, board to meet on Friday
BERLIN (Reuters) - Thyssenkrupp Chief Executive Heinrich Hiesinger has asked the group's supervisory board to end his contract, the company said.
Ford says not planning China price hikes despite new tariffs
BEIJING/SHANGHAI (Reuters) - Ford Motor Co said on Thursday that for now, it will not hike prices of imported Ford and higher-margin luxury Lincoln models in China, thus absorbing the additional cost of tariffs on U.S.-made vehicles due to be applied starting on Friday.
Nasscom opens centre for data science, AI in Bengaluru
Indian IT industry apex body Nasscom on Thursday opened a Centre of Excellence for Data Science and Artificial Intelligence (AI) here.
Muthoot Pappachan Group ropes in Vidya Balan as brand ambassador
The Muthoot Pappachan Group, which is mainly into the financial services business, has appointed film actress Vidya Balan as brand ambassador and unveiled a new corporate identity. "This change is in view of the transformation strategy underway within the group, building further ahead of its brand philosophy, 'Believe in Blue', rolled out four years back," the company said in a statement. The group's CMD Thomas John Muthoot said: "As we now aim to move the Group to the next level of growth, our new brand philosophy reflects our evolution and expansion, our core values, our growing strength in the market and our dedication to our partners, customers, stakeholders and employees." The group will also launch a new ad campaign, including TV commercials, from tomorrow. A senior company official said that Rs 50 crore has been earmarked for marketing campaign this fiscal. Balan has been appointed as brand ambassador for two years, the official said. Muthoot Pappachan Group is into two-wheeler
Adhunik Metaliks' CoC approves Liberty House's resolution plan
Debt-laden Adhunik Metaliks on Thursday said its Committee of Creditors (CoC) has approved Britain-based Liberty House's resolution plan for the insolvent company.
Oil mixed as U.S. crude stockpiles show surprise build
NEW YORK (Reuters) - Oil was mixed on Thursday, with U.S. crude slipping and Brent futures little changed after data showed an unexpected build in U.S. crude oil stockpiles.
China says U.S. 'opening fire' on world with tariffs, vows to respond
BEIJING/WASHINGTON (Reuters) - China accused the United States on Thursday of "opening fire" on the world with tariffs set to take effect on Friday, warning that it will respond the moment that duties on $34 billion in Chinese goods kick in.
Info Edge, MacRitchie Investments to invest Rs 190.51 cr in PolicyBazaar
Info Edge (India) today said it will invest about Rs 190.51 crore in Etechaces Marketing & Consulting -- which operates PolicyBazaar.com -- along with MacRitchie Investments. "Both the company and MacRitchie will invest an amount of about Rs 953 million each in MakeSense for 50.01 per cent and 49.99 per cent stake, respectively, who in turn will invest the aggregate about Rs 1,905.18 million in Etechaces for 3.50 per cent stake held by PI Opportunities Fund I on fully diluted basis," Info Edge said in a BSE filing. Consequent to the said transaction, MakeSense will hold about 19.92 per cent (including existing stake of 16.42 per cent) of Etechaces on fully converted and diluted basis. The transaction is subject to change consequent to completion of primary investment in Etechaces announced by Info Edge on June 25, 2018, the statement said. In June, insurance portal PolicyBazaar had raised over USD 200 million (around Rs 1,360 crore) through a fresh round of investment led by ...
U.S. services sector activity picks up; jobless claims rise
WASHINGTON (Reuters) - U.S. services sector activity picked up in June amid strong growth in new orders, but trade tariffs and a shortage of workers were starting to strain the supply chain, which could slow momentum in the coming months.
Welspun bags four laning contract from NHAI
Infrastructure firm Welspun Enterprises today said it has bagged a contract worth over Rs 2,000 crore from NHAI. The company has received letter of award for the four laning of Sattanathapuram to Nagapattinam section of NH-45A in Tamil Nadu, Welspun Enterprises said in a regulatory filing. The consortium led by the company will develop the project at a bid project cost of Rs 2,004.51 crore and first year O&M cost of Rs 5 crore, it added. The company's HAM (hybrid annuity model) portfolio now stands at over Rs 7,000 crore consisting of six projects, of which five have achieved financial closure, it said.
E-tailers exploring ways to improve reverse logistics costs: Study
E-tailers are increasingly looking for ways to improve their "reverse logistics" capabilities to offset the high costs associated with handling returned goods, a study by Zebra Technologies said today. Reverse logistics refers to the process of return of a product to the manufacturer or the company. "The rising consumer demand for free and fast product delivery correlates with a surge in product returns. Fulfilment and returns go hand in hand; they represent the two halves of the supply chain. While fulfilment means bringing products to market, returns flow the product in reverse back through the supply chain," the report said. It added that while handling product returns is not a new challenge, it has become an "infinitely bigger concern" in an omni-channel marketplace. "It is also extraordinarily costly and is eating into already pressured profit margins," it said, adding that shoppers return an estimated over USD 600 billion worth of goods each year. The report said merchants are ..
UK court lets Indian banks search, seize tycoon Mallya's properties: media
NEW DELHI (Reuters) - A consortium of Indian banks can search and seize the properties of Indian businessman Vijay Mallya in Britain, media reports said on Thursday, citing the decision of a British court.
Wall Street inches higher as trade fears ebb
(Reuters) - U.S. stocks inched higher on Thursday with investors mulling Washington's stance on trade as it looked to dial back tariff threats on European cars while moving to impose duties on Chinese goods worth $34 billion.
UK court lets Indian banks search, seize tycoon Mallya's properties - media
NEW DELHI (Reuters) - A consortium of Indian banks can search and seize the properties of Indian businessman Vijay Mallya in Britain, media reports said on Thursday, citing the decision of a British court.
BMW Group India's Jan-June car sales up 13%
BMW Group India on Thursday reported a growth of 13 per cent in its car sales for the period from January to June 2018 as compared to the corresponding period of 2017.
Tata Motors Group warns against Brexit; seeks clarity
Tata Motors Group, which owns Britain based luxury brand Jaguar Land Rover (JLR), on Thursday warned against the uncertainties arising out of the country's exit from the European Union (Brexit).
Boeing to take over Embraer unit, taking on Airbus-Bombardier
SAO PAULO (Reuters) - Boeing Co will buy a controlling stake in the commercial aircraft arm of Brazilian planemaker Embraer SA under a new $4.75-billion joint venture, the companies said on Thursday, cementing a global passenger jet duopoly.
Corrected: Tech leads Wall Street higher as trade fears ebb
(Corrects consensus for ADP number to 190,000 from 19,000 in paragraph 12)
SCI to get Rs 500 cr to purchase ships: Gadkari
Union shipping and ports minister Nitin Gadkari today said the government will be giving Rs 500 crore to the Shipping Corporation of India to purchase ships in the international market and lease it out domestically. "We will be giving Rs 500 crore to the SCI under the Sagarmala programme to purchase vessels which are available for cheap due to a slump in international market," the minister said, speaking at an industry event here. He said state-run SCI will lease out the assets to private parties who may have difficulties arranging the capital but can deploy the assets locally for productive uses. The ships can be used either for cruise tourism, roll on roll off services which entail ferrying cars through the sea route and also ro-pax where a car carrying passengers is ferried in a boat. Gadkari said there is a need to shift the road traffic to the seas domestically and we should take advantage of the international situation where assets are available for cheap at ...
NABARD plans to disburse Rs 10,000 cr to Punjab
The National Bank for Agriculture and Rural Development (Nabard) today said it plans to disburse Rs 10,000 crore as financial assistance to Punjab for 2018-19. Stating this, NABARD Chief General Manager J P S Bindra said NABARD had disbursed Rs 8,000 crore to Punjab for the agriculture and rural development in 2017-18. To boost capital formation in agriculture, NABARD provided refinance of Rs 2,249.67 crore to various banks during 2017-18 which shall be increased to Rs 2,900 crore in the current year. NABARD also proposed to increase the support under short term refinance during the current year which was Rs 5,258.26 crore during previous year for facilitating disbursement of crop loans at concessional interest rate to farmers by banks. To encourage diversification of crops, NABARD prepared area development plans of Rs 1,918 crore for 2018-19 to promote dairy, vegetable cultivation, apiculture, mushroom growing which will supplement farmers' income, he said.