Page 3587 - Business Finance

KKR to take Envision private for $5.57 billion in healthcare push

(Reuters) - KKR & Co said on Monday it will take U.S. physician services provider Envision Healthcare Corp private in a deal valued at $5.57 billion, its latest acquisition in the healthcare sector.

U.S. inflation seen flat, income weaker: NY Fed survey

NEW YORK (Reuters) - U.S. inflation expectations were flat in May after several months of gains, while Americans grew more pessimistic about income and spending growth, according to a Federal Reserve Bank of New York survey published on Monday.

Exclusive: Nayara Energy begins cutting Iran oil imports - sources

NEW DELHI (Reuters) - Indian refiner Nayara Energy, one of the country's biggest buyers of Iranian oil, began cutting imports this month after the United States scrapped a nuclear deal with Tehran and said it would re-impose tough sanctions, three people familiar with knowledge of the matter said.

IndiGo's Aditya Ghosh joins Nani Palkhivala Arbitration Centre

Aditya Ghosh, who stepped down as a whole-time director of budget carrier IndiGo in April, has joined the Board of Directors of the Nani Palkhivala Arbitration Centre. "Honour & Privilege to formally join the Board of Directors of the Nani Palkhivala Arbitration Centre #NPAC. Thanks to the legendary tax & constitutional law expert & author Sr Advocate Arvind Datar for inviting me. Our audacious goal is to enable speedy justice at a lower cost," Ghosh tweeted. The airline had on April 26 announced that Ghosh would step down as its president and whole-time director, while promoter Rahul Bhatia would become the interim CEO. The company's board, during its meeting on that date, accepted the resignation of Ghosh, according to a regulatory filing. IndiGo is the country's largest domestic carrier with a market share of about 40 per cent.

SBI Magnum Eq Fund re-positioned as SBI Magnum Equity ESG Fund

SBI Mutual Fund today said it has implemented the ESG framework, and re-positioned SBI Magnum Equity Fund as SBI Magnum Equity ESG Fund, effective May 16. ESG Framework is an approach to investment where environmental, social & governance (ESG) factors, in combination with financial considerations; guide the selection of portfolio and management of investments. The total AUM of SBI Magnum Equity ESG Fund stands at Rs 2,116.32 crore as on May 31. It will be a Thematic ESG Fund, with large cap bias and benchmarking itself with Nifty ESG Index, the company said in a release. **************** BSE's India INX launches segregated nominee account structure * BSE-promoted India International Exchange (India INX) has announced the launch of the segregated nominee account structure with a view to further facilitate ease of market access for foreign investors in the International Financial Service Centre (IFSC) at Gujarat's Gift City. Through this mechanism, foreign investors ..

Device maker Stryker has made a takeover approach to Boston Scientific: WSJ

(Reuters) - Device maker Stryker Corp has made a takeover approach to Boston Scientific Corp, the Wall Street Journal reported https://www.wsj.com/articles/stryker-has-made-a-takeover-approach-to-boston-scientific-1528727749?mod=searchresults&page=1&pos=1, citing people familiar with the matter.

'No sacred cows': South African Airways boss plans deep cuts

JOHANNESBURG (Reuters) - Six months into the job of running loss-making South African Airways, Vuyani Jarana is mapping out a punishing austerity plan.

Jaguar to cut more UK jobs as it moves Discovery output to Slovakia

LONDON (Reuters) - Jaguar Land Rover (JLR) is set to cut more jobs in Britain as it moves all production of its Discovery car to lower-cost Slovakia before building its new Range Rover at an English factory.

New launches, robust demand push May passenger car sales up 20% (Roundup)

New models coupled with higher disposable income accelerated the pick-up of domestic passenger cars' sales by 19.64 per cent in May.

Exim Bank expects India's merchandise exports to grow at 10.6% in Q1

Exim Bank sees India's merchandise exports growing 10.6 per cent in the first quarter of the current financial year, 2018-19. The total merchandise exports during the April-June quarter of last fiscal, 2017-18, stood at USD 71,535.70 million, said the Export Import Bank of India. It said that based on its internal Export Leading Index Model, India's total merchandise export is expected to witness a growth rate of 10.6 per cent and non-oil exports at 6 per cent in the June quarter, over the year ago period. The non-oil exports in the year-ago period were at USD 64,100 million. Exim Bank said has developed an in-house model, based on continued research initiatives, to generate an Export Leading Index (ELI) for India to track and forecast the movement in India's exports on a quarterly basis. The ELI gauges the outlook for the country's exports and is essentially developed as a leading indicator to forecast growth in total merchandise and non-oil exports of the country, on a quarterly ...

Lenovo elevates its India chief marketing officer to Asia Pacific level

Chinese PC maker Lenovo today said it has elevated its India head of marketing Bhaskar Choudhuri as the chief marketing officer of Asia Pacific. "Bhaskar Choudhuri has succeeded Nick Reynolds as Chief Marketing Officer (CMO) of Lenovo Asia Pacific, and is responsible for elevating Lenovo's brand across the region," Lenovo said in a statement. According to market research firm, Lenovo was at third position after HP and Dell in traditional PC market with 21.7 per cent market share at the first quarter of 2018. Reynolds has been appointed as the company's global Head of Marketing for Digital, Web & Social Media. In his new role as CMO of Lenovo Asia Pacific, Bhaskar, who is based in Bangalore, India, is tasked with expanding Lenovo's brand footprint in the Asia Pacific region, and driving sales for PCs, tablets and smart devices across diverse markets covering Japan, India, Hong Kong, Taiwan, Korea, Australia, New Zealand and Southeast Asia. "He reports to Ken Wong, President of ...

Kim takes night-time tour of Singapore ahead of Trump summit: AFP

North Korean leader Kim Jong Un took a night-time stroll around some of Singapore's sights late today ahead of his summit with Donald Trump, with Singapore's foreign minister taking selfies alongside him. The picture posted online by Vivian Balakrishnan as the group toured the waterfront is the first such public image of the usually closely-guarded Kim.

'Cirque du Soleil' to hold Mumbai show in November: Fadnavis

The world's largest theatrical producer, 'Cirque du Soleil' has announced its first-ever performance in India, to be held here in November, Maharashtra Chief Minister Devendra Fadnavis said on Monday.

Pebblebrook sweetens offer for LaSalle Hotel

(Reuters) - Pebblebrook Hotel Trust on Monday raised its offer to buy fellow U.S. hotel owner LaSalle Hotel Properties, seeking to scuttle Blackstone Group LP's $3.7 billion deal with the company.

S&P edges higher on gains in bank shares

(Reuters) - The S&P 500 edged higher on Monday, helped by gains in bank shares and utility Sempra Energy, as investors looked past a chaotic G7 meeting over the weekend and focused on a historic U.S.-North Korea summit.

RBI issues draft guidelines on loan system for bank credit

In a move to enhance credit discipline among larger borrowers, the RBI on Monday proposed a "minimum level of loan component" of 40 per cent for borrowers having an aggregate fund-based working capital limit of Rs 150 crore and above from the banking system, a condition proposed to be effective from October 1, 2018.

GST refunds upto Rs 1,183cr cleared in B'luru zone since Apr

Having come under criticism for the poor refund under the Goods and Services Tax (GST), the Central Board of Indirect Taxes and Customs, Bengaluru zone today said Rs 1,183 crore has been refunded since the roll out of GST. The Principal Chief Commissioner of Central Tax A K Jyotishi told reporters here that the GST revenue from Karnataka per month is Rs 6,000 crore excluding indirect central tax of Rs 1,000 crore as duty and taxes on petroleum products. In view of pendency of refunds, the Central Board of Indirect Taxes and Customs launched a special refund drive starting from May 31 to June 14. "This was the second refund drive initiated by the department after the successful rollout of the first refund drive from March 15 to March 30," Jyotishi said. Under the special refund drive Rs 197 crore has been disbursed, the officer said adding that 96 per cent of the claims havebeen cleared and remaining is still under process. He explained that there was pendency of cases ...

SoftBank Vision Fund makes second-ever enterprise software investment

SAN FRANCISCO (Reuters) - The $100 billion SoftBank Vision Fund has made its second-ever investment in an enterprise software company, as the massive fund broadens its portfolio beyond consumer tech firms such as Uber and DoorDash.

Hyundai rolls out fastest eight millionth car in India

Automobile major Hyundai Motor India (HMIL) on Monday said that it has reached the fastest eight millionth car production mark in India.

BSE's India INX eases market access for overseas investors

India International Exchange today said it has launched 'segregated nominee account structure' to facilitate ease of market access for foreign investors in International Financial Service Centre (IFSC) at Gujarat's Gift City. The 'segregated nominee account structure' will give immediate access for foreign investors to trade on India International Exchange (India INX), a subsidiary of BSE. Also, it would help in decreasing transaction costs for overseas investors due to lower costs towards overheads. "Through this mechanism, foreign investors can become end-clients of eligible segregated nominee account providers (the provider) for trading on the India INX products," the exchange said in a statement. Entities that are eligible to become service providers include Sebi-registered brokers in IFSC, Foreign Portfolio Investors (Category I and II), trading or clearing members of international stock exchanges or clearing corporations that are regulated by a member of Financial Action Task ..