Page 3566 - Business Finance

Morgan Stanley's fixed-income business has great potential: CEO

NEW YORK (Reuters) - Morgan Stanley Chief Executive Officer James Gorman said on Tuesday that in recent years the bank's fixed-income group has had the greatest opportunity for delivering growth.

India to witness growth despite challenges: CII President

Confederation of Indian Industry (CII) President Rakesh Bharti Mittal on Tuesday predicted a 7.3-7.7 percent growth in 2018-19 in spite of challenges in the global economy.He said, "CII predicts 7.3-7.7 percent growth in 2018-19 and expects it to strengthen further in the few years to come. This in spite of some challenges in the global economy, including hardening of interest rate regimes, volatility in oil prices, etc."Mittal highlighted the reforms over the past four years and further stated that Goods and Services Tax (GST), Insolvency and Bankruptcy Code were the most relevant reforms that would change the way business was done in the country.The CII President said that the state governments working proactively on ease of doing business were getting better investments and business interest and the Government of India's ranking of states played a good role in that.Responding to a question on how the large non-performing asset (NPA) accumulation should be dealt with, Mittal said ...

Gundlach says 'excellent time' for a partial shift into emerging markets

NEW YORK (Reuters) - The recent turbulence in emerging markets marks an "excellent time" for a partial shift into the sector for investors who have avoided the group all year, Jeffrey Gundlach, chief executive of DoubleLine Capital, said on Tuesday in an investor webcast.

Oil mixed as OPEC cites uncertain market outlook for 2018

NEW YORK (Reuters) - Oil prices were mixed on Tuesday, with U.S. crude settling higher before falling in post-settlement trading, and Brent slipping as investors prepared for a key meeting of the OPEC producer group next week.

AT&T wins U.S. court approval to buy Time Warner for $85 billion

WASHINGTON (Reuters) - AT&T Inc won approval from a U.S. court on Tuesday to buy Time Warner Inc for $85 billion, without conditions, allowing AT&T to compete with internet companies that dominate digital advertising and providing new sources of revenue.

Stocks steady after Trump-Kim summit, investors eye Fed

NEW YORK (Reuters) - Wall Street made modest gains on Tuesday while the U.S. dollar rose slightly against a basket of major currencies, with only muted impact from the long-awaited U.S.-North Korea summit aimed at denuclearising the Korean peninsula.

S&P 500, Nasdaq end higher; investors turn focus to Fed

NEW YORK (Reuters) - U.S. stocks ended slightly higher on Tuesday, boosted by gains in technology and utilities shares, though investors were cautious ahead of the Federal Reserve's policy decision.

J&J accepts $2.1 billion offer for its LifeScan unit

(Reuters) - Johnson & Johnson said on Tuesday it has accepted private equity firm Platinum Equity's $2.1 billion buyout offer for the company's LifeScan Inc unit.

Nasdaq ends at record, Dow flat ahead of Fed decision

The Nasdaq finished at a fresh record today following strong gains by Tesla and some other tech companies, while the Dow treaded water ahead of a Federal Reserve decision. At the closing bell, the tech-rich Nasdaq Composite Index was up 0.6 per cent at 7,703.93. The Dow Jones Industrial Average was down a hair to 25,320.01, while the broad-based S&P 500 added 0.2 per cent to 2,786.80.

Wall St edges higher as Fed decision looms

NEW YORK (Reuters) - U.S. stocks ended slightly higher on Tuesday, boosted by gains in utilities and technology shares, though investors were cautious ahead of the Federal Reserve's policy decision.

S&P 500 hovers near unchanged as focus turns to Fed

NEW YORK (Reuters) - U.S. stocks were near flat on Tuesday as investors became cautious ahead of the Federal Reserve's policy decision, while a historic U.S.-North Korea summit failed to impress investors.

Stocks, dollar steady after U.S.-North Korea summit

NEW YORK (Reuters) - World stock markets were little changed on Tuesday while the U.S. dollar rose slightly against a basket of major currencies, with only muted impact from the long-awaited U.S.-North Korea summit aimed at denuclearizing the Korean peninsula.

Colombia vote worries oil, mining investors

BOGOTA (Reuters) - Investors in Colombia's oil and mining sectors have much at stake in Sunday's presidential race with the frontrunner pledging business-friendly measures to revive production while his leftist rival wants to end reliance on petroleum and coal, the country's top exports.

Pak stock market nosedives, rupee weakens

The Pakistani rupee today grew weaker against the US dollar, which climbed up to 121 rupees in the inter-bank rates and was selling at around 122 rupees in the open market marking a fall of 4.66 per cent since last Friday. The unofficial devaluation by the central bank yesterday, the second since last March, saw panic prevail in the open market and fears of an increase in prices of consumer goods. To make matters worse the caretaker government last night also announced increases in the prices of petrol, diesel oil and kerosine oil. The petrol prices were increased by 4.26 rupees per litre and 6.14 a litre. The Pakistan Stock Exchange today nosedived as the benchmark KSE-100 index lost 702 points to close at 43,229. The Karachi Stock Exchange (KSE-100) index witnessed a slide throughout its trading session, clearly hit by the continued devaluation of the currency. The day saw around 138 million shares worth Rupees 5.97 billion traded at the exchange with 257 of the 324 scripts that ...

Morgan Stanley's 'most attractive business' is fixed income - CEO

NEW YORK (Reuters) - Morgan Stanley Chief Executive Officer James Gorman called the bank's fixed-income group its "most attractive business" on Tuesday at a conference the Wall Street firm held in New York.

Musk says Tesla cutting 9 percent of jobs

(Reuters) - Tesla Inc is cutting about 9 percent of jobs across the company, billionaire Chief Executive Elon Musk said on Tuesday, as it seeks to reduce costs without endangering the critical ramp up of production of its Model 3 sedan.

Farewell package for WPP's Sorrell faces investor backlash

LONDON (Reuters) - WPP's decision to allow founder Martin Sorrell to quit with share awards worth millions of pounds faced fresh opposition on Tuesday as Hermes EOS advised shareholders to vote against the advertising giant's remuneration report.

Tesla to cut 9 percent of jobs - Bloomberg

(Reuters) - Tesla Inc is planning to cut about 9 percent of jobs across the company, Bloomberg reported on Tuesday.

Wall Street edges higher with focus on Fed

(Reuters) - U.S. stocks edged higher on Tuesday, with help from Twitter and media stocks, as investors looked past a historic U.S.-North Korea summit and focused on the Federal Reserve's policy meeting.

IndiGo to launch services to Dhaka from August

Budget airline IndiGo on Tuesday said that it will launch services to Jorhat and Dhaka as its new destinations from August.