Page 3443 - Business Finance
Wall Street pummelled by escalating trade threats
NEW YORK (Reuters) - An escalating trade dispute between the United States and other leading economies battered U.S. stocks on Monday, handing the S&P 500 and Nasdaq their steepest losses in more than two months.
Greystar to buy Education Realty in $4.6 bln deal
(Reuters) - Education Realty Trust Inc , a developer of student housing, said on Monday it would be acquired by an affiliate of Greystar Real Estate Partners for about $4.6 billion, including debt.
Wells Fargo fined by SEC over investment sales misconduct
(Reuters) - Wells Fargo & Co will pay more than $5.1 million to settle U.S. Securities and Exchange Commission charges it improperly pushed retail customers to actively trade complex investments in order to generate higher fees.
Oil drops as market braces for more OPEC crude and Wall Street slips
NEW YORK (Reuters) - Oil fell on Monday as investors prepared for an extra 1 million barrels per day (bpd) of oil to hit markets after OPEC agreed to raise production and as U.S. equity markets slipped on trade war fears.
Wall Street pummeled by escalating trade threats
NEW YORK (Reuters) - An escalating trade dispute between the United States and other leading economies battered U.S. stocks on Monday, driving benchmark indexes lower by around 2 percent to their steepest losses in more than two months.
Bank of Canada caught between rate hike and trade war
OTTAWA (Reuters) - Bank of Canada Governor Stephen Poloz is under pressure to justify another rate hike or risk credibility by changing course, with a clear-cut case for higher rates endangered by a raging trade war with the United States.
Global stocks sink amid trade turmoil, oil drops on output
NEW YORK (Reuters) - Global stock markets extended losses on Monday as trade fights between the United States and other leading economies worsened, while oil settled lower as the anticipation of sharply higher crude output loomed large.
Exclusive - Hudson's Bay in talks with Signa for Kaufhof joint venture: sources
NEW YORK (Reuters) - Saks Fifth Avenue owner Hudson's Bay Co is in discussions with Austrian property and retail group Signa Holding GmbH about a joint venture for its German retail chain Kaufhof, two people familiar with the matter said on Monday.
Gold hovers near six-month lows as investors flock to U.S. Treasuries
NEW YORK/LONDON (Reuters) - Gold hovered near last week's six-month low on Monday as investors flocked to U.S. Treasuries rather than bullion, amid concerns over a global trade war ratcheting higher after a report said the United States plans to bar Chinese companies from investing in its technology firms.
Blackstone starts marketing huge F&R buyout loan
NEW YORK (LPC) - The US$8 billion-equivalent term loan B portion of the debt financing backing Blackstone Group's US$20 billion acquisition of a 55% stake in Thomson Reuters' Financial and Risk (F&R) unit is being shown to large institutional investors before an anticipated September launch, sources said on Monday.
2,600 PACS to be developed as banking service points in Bengal
In a bid to provide banking services in the unbanked gram panchayats in West Bengal, about 2,600 deposit mobilising Primary Agriculture Cooperative Sector (PACS) will be developed as customer service points of district or state cooperative banks, as recommended by a panel, an official statement said on Monday.
Wall Street pummeled by escalating trade row
(Reuters) - U.S. stocks sank in a broad sell-off on Monday, with the S&P 500 dropping more than 1.5 percent and technology firms bearing the brunt of an escalating trade dispute between the United States and other leading economies.
Modi to open AIIB meeting, interact with business leaders
Prime Minister Narendra Modi will visit Mumbai on Tuesday and inaugurate the third annual meeting of the Asian Infrastructure Investment Bank (AIIB), said an official on Monday.
Who is real Finance Minister, Congress asks PM
Accusing the Narendra Modi government of ushering in financial anarchy and gross economic mismanagement in the country, Congress on Monday asked Prime Minister Narendra Modi who was the real Finance Minister of India.
Xerox says to lower dependency on Fujifilm, seek new vendors
(Reuters) - Xerox Corp said on Monday it would start sourcing products from new vendors to lower its dependency on Fujifilm Holdings Corp and may not renew its technology agreement with the 56-year-old joint venture Fuji Xerox.
State spend on science research stagnant: Biocon chief
Biotechnology major Biocon's Chairperson Kiran Mazumdar-Shaw on Monday lamented that the state's spend on science research has remained stagnant over the past few years.
Karur Vysya Bank to raise up to Rs 1,200 cr via securities
Private sector lender Karur Vysya Bank today said it plans to raise up to Rs 1,200 crore through a mix of equity and debt. In a regulatory filing, the bank said its board has approved the proposal for domestic fund raising by way of issuance of Basel III complaint unsecured tier 1 and 2 capital instruments on "private placement basis/preferential allotment/qualified institutional placement up to Rs 1,200 crore". The proposal involves raising the fund in single or multiple tranches. "...fund raising by way of Basel III complaint unsecured tier 1 and 2 capital instruments issuance shall be subject to approval of shareholders, regulatory/statutory approvals, as may be required," the bank added. The bank's shares closed at Rs 104.85 a piece on BSE, down 0.94 per cent.
Bank of Baroda plans to raise Rs 6,000 crore
Public sector lender Bank of Baroda plans to raise up to Rs 6,000 crore through various instruments, including preference issue of shares, rights issue or a follow-on public offer. The board of the bank will seek approval from the shareholders in its annual general meeting to be held on July 13. Bank of Baroda said it will seek nod of the shareholders to offer and issue equity capital in one or more tranches from domestic or overseas sources by tapping means such as qualified institutions placement (QIP), follow-on-public-offer, preferential issue, rights issue, ADR/GDR, private placement of equity or via compulsory convertible debentures. The allotment of equity share will be in "such a way that the central government shall at all times hold not less than 52 per cent of the total paid-up equity capital of the bank," Bank of Baroda said in its annual report for 2017-18. The bank suffered a net loss of about Rs 2,432 crore in 2017-18, mainly on account of higher provisions for bad ...
Exide Industries to acquire Tudor India's Gujarat unit
Battery maker Exide Industries on Monday said it has entered into an agreement with Tudor India, part of US-based Exide Technologies, for acquiring its Gujarat facility.
Sebi favours adjudication proceedings against ICICI Bank, Kochhar
A preliminary examination by regulator Sebi has favoured adjudication proceedings against ICICI Bank and its CEO Chanda Kochhar for alleged violation of listing disclosure norms regarding 'conflict of interest' in business dealings of her husband with Videocon group. ICICI Bank may face a penalty of up to Rs 25 crore under the relevant Sebi regulations for such lapses, while the fine for Kochhar may go up to Rs 1 crore, besides other penal actions, a senior official said. The adjudication process will start formally soon after taking into account the replies to the show cause notices issued by Sebi to ICICI Bank, Kochhar and others in this matter, the official added. According to an ICICI Bank spokesperson, the bank and its MD received show cause notice seeking a response as to why an inquiry should not be held against them under the Securities Contracts (Regulation) Rules. "Documents relied upon under the notice have been received today. Appropriate response to the show cause notice .