Page 3764 - Business Finance
Stocks tumble as Italian crisis knocks global sentiment
TOKYO (Reuters) - Asian shares extended a global sell-off in early trading Wednesday as Italy's political crisis provoked a heavy retreat on Wall Street, sent the euro to a 10-month low and pushed up borrowing costs for the government in Rome.
Italy should remain in eurozone: US Treasury
Crisis-stricken Italy should work to resolve its current political crisis while staying within the eurozone, a senior US Treasury official said today. US Treasury Secretary Steven Mnuchin is due to meet later this week with his counterparts at a Group of Seven ministerial meeting in British Columbia, Canada, an event sure to be dominated by the Italian crisis and Washington's multi-front trade disputes with major economies. A power struggle between Italy's presidency and populist parties today shook global markets and called the country's continued membership in the European single currency into question. "I think it would be better if they were to work things out within the eurozone without making significant changes there and certainly the Italians have to opportunity to do that," a senior US Treasury official told reporters in a briefing before the ministerial meeting. The official, who spoke on condition of anonymity under Treasury Department ground rules, said the department was .
Oil prices mixed amid worries over growing supplies
TOKYO (Reuters) - Oil prices were mixed in early Asian trade on Wednesday, with worries that Saudi Arabia and Russia will pump more crude weighing on the market.
Worsening Italian crisis batters financial markets
TOKYO (Reuters) - Asian shares looked set for a sharp fall on Wednesday as Italy's political crisis provoked a sell-off on Wall Street, sent the euro to a 10-month low and spiked borrowing costs for the government in Rome.
Two-day bank strike from today, salary withdrawal, ATM transactions may take a hit
Disrupting transactions across the country employees of public sector banks will go on a two-day nationwide strike starting today.As the two percent wage hike failed to convince the bank unions, nearly 1 million bank employees will go on strike which kicks off at 6 AM.The United Forum of Banking Unions (UFBU), an umbrella body of nine bank unions has called for a nationwide bank strike against wage hike proposed by the Indian Banks' Association (IBA).Vice-President of National Organisation of Bank Workers, Ashwani Rana told ANI, "On 30 and 31st May, 10 lakh bank employees all over India will be on strike over the issue of wage revision."Reportedly, the ATM security guards are also likely to participate in the protest. And with protest dates coinciding with the end of the month, salary withdrawals may get affected too.The UFBU has demanded early wage review settlement, sufficient increase in salary and improvement in other service conditions and wage revision settlement for all ...
U.S. to continue trade actions against China -White House
WASHINGTON (Reuters) - The United States said on Tuesday that it still holds the threat of imposing tariffs on $50 billion of imports from China and will use it unless Beijing addresses the issue of theft of American intellectual property.
HP Inc tops revenue estimates, raises forecast on PC demand
(Reuters) - HP Inc reported better-than-expected quarterly revenue and raised its full-year profit forecast on Tuesday, helped by strong demand for its notebooks and desktops.
Wall Street falls on Italy worries; bank shares drop
NEW YORK (Reuters) - The S&P 500 and the Dow Jones Industrial Average registered their biggest one-day percentage drops in a month on Tuesday as political turmoil in Italy sparked concerns about the stability of the euro zone and shares of U.S. banks tumbled.
HP Inc revenue beats Street on notebook PC demand
(Reuters) - HP Inc reported better-than-expected quarterly revenue on Tuesday, driven by strong growth in its personal systems business, which includes notebooks and desktops.
Worsening Italian crisis batters stock markets
NEW YORK (Reuters) - A spiraling Italian political crisis provoked a global stock market sell-off on Tuesday, cut the euro to a 10-month low and spiked borrowing costs for the government in Rome.
Italy, banks drive Wall Street southward
(Reuters) - U.S. stock markets sank more than 1 percent in value on Tuesday on downbeat guidance on trading from JP Morgan and worries over Italy, putting the S&P and Dow Jones Industrial Average on track for their biggest one-day drops in a month.
US asks Bayer AG to divest businesses and assets worth USD 9 bln to acquire Monsanto Company
The US today asked Bayer AG to divest businesses and assets worth USD 9 billion ahead of its proposed USD 66 billion acquisition of Monsanto Company. Bayer, based in Leverkusen, Germany, and Monsanto, headquartered in St Louis, Missouri, are two of the largest agricultural companies in the world. They compete to provide farmers with a broad range of seed and crop protection products. Describing the move as an effort to protect American farmers and consumers, the Department of Justice said that the proposed divestiture to Bayer AG, an experienced chemical company with a substantial crop protection business, will fully resolve all horizontal and vertical competition concerns. "This comprehensive structural solution to significant horizontal and vertical competition concernsthe largest merger divestiture ever required by the United Statespreserves competition in the sale of these critical agricultural products and protects American farmers and consumers," said Assistant Attorney General
Starbucks closes 8,000 stores for anti-bias training
LOS ANGELES/MIAMI (Reuters) - Starbucks Corp appealed to customers for forgiveness in a controversy over alleged racial profiling on Tuesday, saying its behaviour toward two black men last month had been reprehensible as it closed 8,000 U.S. stores for anti-bias training.
Maha to use PoS devices to check kerosene misuse in Mumbai
In a bid to ensure that subsidised kerosene reaches deserving people, the Maharashtra government today decided to use Point of Sale (PoS) machines for Mumbai and Thane region from June 1 on a pilot basis. The PoS machines are already deployed in fair price shops in the urban region of Mumbai and Thane districts. The move will directly impact the monthly sale of 58,00,000 litres in Mumbai and Thane region, a Public Distribution official said. Kerosene is currently being sold at around Rs 24 per litre in Mumbai and Thane. A point of sale terminal (POS terminal) is an electronic device that is used to process card payments at retail locations. "PoS machines will be used on a pilot basis in this (Mumbai and Thane) region. The distributors will have to ensure that a kerosene purchaser does not have any LPG connection," as per a Government Resolution (GR) issued today. When asked about the need for such a move, the official said, "We used to sale 8,00,000 litres of kerosene ...
Gold gains as political turmoil in Italy rocks financial markets
LONDON (Reuters) - Gold edged up on Tuesday as a deepening political crisis in Italy provoked a second day of heavy selling on European financial markets, though a buoyant dollar kept the precious metal's gains in check.
Vistara to deploy robot to assist passengers
Airline Vistara on Tuesday said that it will deploy the "RADA" robot at its signature lounge in Delhi airport's Terminal 3 from July to provide on-ground service to its customers.
Fiat Chrysler investors want electric road map in CEO's swan song
MILAN/LONDON (Reuters) - Fiat Chrysler (FCA) boss Sergio Marchionne is expected to outline new plans for electric and hybrid cars in a strategy presentation on Friday, aiming to ensure the world's seventh-largest carmaker remains in the race in the absence of a merger.
Analysis: Political storm threatens Italian bank recovery
MILAN (Reuters) - Italy's political crisis risks undoing years spent rebuilding the country's banks, undermining the value of their assets, choking off access to funding and rekindling euro exit fears.
Oil falls on threat of OPEC boost; funds quit crude
NEW YORK (Reuters) - Oil prices fell on Tuesday, with U.S. crude tumbling nearly 3 percent, on worries that Saudi Arabia and Russia could pump more crude to compensate for a potential supply shortfall, with hedge funds reducing bullish positions in crude.
U.S. to continue trade actions against China: White House
WASHINGTON (Reuters) - The United States said on Tuesday that it still holds the threat of imposing tariffs on $50 billion of imports from China and will use it unless Beijing addresses the issue of theft of American intellectual property.