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Page 3877 - Business Finance

Gold gains as dollar rally comes off the boil

LONDON (Reuters) - Gold edged up on Tuesday from a 2018 low as the dollar fell from its five-month high, although risk appetite in the broader financial markets kept the metal's gains in check.

Updated On : 22 May 2018 | 5:55 PM IST

HCL Technologies joins Blockchain in Transportation Alliance

Global technology giant HCL Technologies on Tuesday announced it has joined the Blockchain in Transportation Alliance (BiTA), an organisation dedicated to determine best practices and standards for Blockchain in the transportation industry.

Updated On : 22 May 2018 | 5:55 PM IST

Government not to sell Air India, if bids are below minimum floor price: Official

The central government might not sell its stake in the ongoing divestment process of the national passenger carrier Air India, if bids do not meet a minimum threshold value or floor price estimated for the airline.

Updated On : 22 May 2018 | 5:55 PM IST

Board of Cigniti Technologies considers closure of two subsidiaries

At meeting held on 21 May 2018

Updated On : 22 May 2018 | 5:50 PM IST

Deutsche Bank chairman Achleitner to feel investor ire

FRANKFURT (Reuters) - Deutsche Bank investors, fed up with a languishing share price and dwindling revenue, will call on its leaders to deliver quicker results at this week's annual general meeting.

Updated On : 22 May 2018 | 5:50 PM IST

Renault-Nissan-Mitsubishi VC invests first $50 million in startups

TEL AVIV (Reuters) - The Renault-Nissan-Mitsubishi alliance's new venture capital fund has agreed five investments in four months totalling $50 million and will present another to its supervisory board next week, the fund's head said.

Updated On : 22 May 2018 | 5:35 PM IST

India to build sugar stockpile to cut surplus supplies in market

NEW DELHI (Reuters) - India will build government stockpiles of sugar to cut a surplus in the market, two official sources said on Tuesday, a move that will prop up local prices and help money-losing mills pay dues to millions of cane growers, a key voting bloc.

Updated On : 22 May 2018 | 5:35 PM IST

SBI biggest beneficiary of Bhushan Steel sale to Tatas

Country's largest lender SBI will be the biggest beneficiary of resolution of debt-ridden Bhushan Steel as its bottomline will go up by as much Rs 1,300 crore. The other banks which will get major share of the sales proceeds include Punjab National Bank (Rs 700 crore), Canara Bank (Rs 600 crore) and Bank of India (Rs 500 crore). Syndicate Bank and Oriental Bank of Commerce will get Rs 400 crore each, top finance ministry official said. In all, the consortium of banks led by SBI would get around Rs 7,500 crore. Besides, the lenders will also get equity in the steel company. As a result of the debt resolution, the non-performing assets (NPAs) or bad loans of SBI will come down by as much as Rs 11,000 crore. PNB and Canara Bank will see NPA reduction of Rs 3,800 crore and Rs 2,300 crore respectively when the first quarter numbers are announced, the official said. Together these lenders will shed NPA burden to the tune of Rs 35,000 crore out of Rs 1.75 lakh crore of the 12 large NPA cases

Updated On : 22 May 2018 | 5:35 PM IST

For the first time in 226, woman to lead the NYSE

The New York Stock Exchange for the first time in its 226-year history will be led by a woman. Stacey Cunningham, who started her career as a floor clerk on the NYSE trading floor, will become the 67th president of the Big Board. Cunningham, who is the chief operating officer for the NYSE Group, becomes president Friday. Current NYSE President Thomas Farley, is leaving to head a special purpose acquisition company. The historically male-dominated financial industry has grappled with its own issues tied to the #MeToo movement. Last month it was announced that the "Fearless Girl" statue, which has become a global symbol of female business prowess, will be moved from her spot staring down Wall Street's bronze "Charging Bull" to a new home facing the New York Stock Exchange.

Updated On : 22 May 2018 | 5:35 PM IST