Page 3887 - Business Finance
Global Markets: Asian shares stumble as dollar strengthens, oil surges
SYDNEY (Reuters) - Asian shares skidded on Tuesday as a strong dollar sapped demand for emerging market assets while surging oil prices stoked concerns about a flare-up in inflation and faster U.S. interest rate increases.
Just Dial spurts after strong Q4 outcome
Just Dial gained 4.3% to Rs 424.80 at 09:22 IST on BSE after net profit rose 53.69% to Rs 38.96 crore on 11.71% rise in total income to Rs 217.09 crore in Q4 March 2018 over Q4 March 2017.
Negative market breadth
Key benchmark indices were trading lower in early trade. At 9:20 IST, the barometer index, the S&P BSE Sensex, was down 30.89 points or 0.09% at 34,585.24. The Nifty 50 index was down 20.60 points or 0.20% at 10,496.10.
Rupee recovers from 16-mth low, up 15 paise against US dollar
The rupee recovered from its 16-month low to trade 15 paise higher at 67.97 against the US dollar in early session today, after opening 10 paise higher, on fresh selling of the dollar by exporters and banks. Forex dealers said besides selling of the American currency by exporters and banks, weakness in the dollar against other currencies overseas supported the rupee. Further, investor sentiment turned positive on easing trade woes between the US and China leading to a higher opening of the domestic equity market, boosting the domestic unit, they added. Yesterday, the rupee had lost 12 paise to close at a fresh 16-month low of 68.12 against the US currency on sustained dollar demand from importers and corporates amid weak global cues. Meanwhile, the benchmark BSE Sensex was trading 43.50 points, or 0.12 per cent, higher at 34,659.63 in early trade today.
U.S. will lift sales ban order against China's ZTE: WSJ
BEIJING (Reuters) - The U.S. government will lift an order banning U.S. companies from selling components and software to China's ZTE Corp, the Wall Street Journal reported on its Chinese microblog account, citing unnamed sources.
Exclusive: Ousted MGM CEO explores bid for the U.S. movie studio - sources
(Reuters) - Former MGM Holdings Inc Chief Executive Officer Gary Barber, who was ousted earlier this year, is speaking to investment banks about financing an offer to acquire the privately held U.S. movie studio, five people familiar with the matter said on Monday.
Market may extend losses
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 28.50 points at the opening bell.
Cipla, Dr Reddy's, SBI in focus on Q4 results
Cipla, Dr Reddy's Laboratories, HPCL, Indian Oil Corporation and State Bank of India will announce their Q4 March 2018 results today, 22 May 2018.
Oil prices edge up on Venezuela, Iran supply worries
SINGAPORE (Reuters) - Oil prices rose on Tuesday on concerns that Venezuela's crude output could drop further following a disputed presidential election and potential U.S. sanctions on the OPEC-member.
SGX says to list Indian derivatives despite legal move by Indian bourse
SINGAPORE (Reuters) - Singapore Exchange Ltd (SGX) said on Tuesday the National Stock Exchange of India had applied for an interim injunction in an Indian court on SGX's new derivatives products, but SGX plans to go ahead and list them next month.
Finmin ties up with 40 entities to extend funding under Mudra scheme
In order to identify people who can be given funds under the Pradhan Mantri Mudra Yojana (PMMY), the ministry will on May 23 organise an event in Mumbai to extend loan under the scheme
Dollar holds near four-month highs, oil near multi-year top
SYDNEY (Reuters) - The dollar hovered near four-month highs on Tuesday on renewed optimism about global growth as the United States and China agreed to drop their tariff threats, while oil stayed at multi-year peaks over potential sanctions in Venezuela.
Oil prices rise on worries over Venezuelan supply
SINGAPORE (Reuters) - Oil prices rose on Tuesday amid worries that Venezuela's crude output could drop further following a disputed presidential election in the country and with potential sanctions on the OPEC-member.
Sony buys EMI Music Publishing in USD 1.9bn deal
Japanese entertainment giant Sony today announced a deal to acquire the music publishing firm and record label EMI for a price of around USD 1.9 billion. Sony signed a deal with Abu Dhabi-based investment firm Mubadala to buy its 60 per cent holding in EMI, giving the Japanese firm an indirect stake of approximately 90 per cent, Sony said in a statement. "We are thrilled to bring EMI Music Publishing into the Sony family and maintain our number-one position in the music publishing industry," Sony boss Kenichiro Yoshida said in a statement. He said the music business had "enjoyed a resurgence in the past couple of years" driven by subscription-based streaming services. EMI is the second-largest music publishing company by revenue and either owns or holds the rights to 2.1 million pieces of music. It either owns or administers some two million songs, including classics by the likes of Queen, Sam Smith, Pharrell Williams and Drake. As for Sony, it already owns 2.3 million copyrights, ...
As bitcoin world wobbles, mining rig company plans $2 billion IPO
HONG KONG (Reuters) - Bitcoins are worth less than half of what they were in December. Mining them is 60 percent less profitable than it was in 2017. Even retailers of hobbyist mining rigs say they are seeing fewer customers.
US dollar rises as trade tensions ease
The US dollar rose as market sentiment was boosted by an easing of trade tensions between China and the US.
Tesla Model 3 fails to get Consumer Reports nod due to 'big flaws'
(Reuters) - Influential U.S. magazine Consumer Reports will not recommend Tesla Inc's Model 3 sedan, saying on Monday it braked slower than a full-sized pickup truck, taking the shine off a day of gains for shares in Elon Musk's electric car company.
Wall St. rises on trade war truce; industrials lead
NEW YORK (Reuters) - U.S. stocks rose on Monday and gains in industrials helped propel the Dow to a more than two-month closing high, after a truce between the United States and China calmed fears that a trade war might be imminent.
Oil rallies to multi-year highs on Venezuela worries
NEW YORK (Reuters) - U.S. crude hit its highest level since 2014 on Monday amid rising concerns that Venezuela's oil output could fall further following the country's presidential election and potential sanctions on the OPEC-member nation.
Global Markets: Stocks, dollar climb amid U.S.-China trade truce
NEW YORK (Reuters) - Global stock markets climbed on Monday, and the U.S. dollar rallied to a five-month peak while the Japanese yen weakened after the United States and China agreed to halt a trade war between the two countries.