Page 849 - Business Finance
Bristol-Myers says Starboard nominated five directors, bought shares
(Reuters) - Bristol-Myers Squibb Co said on Wednesday that activist hedge fund Starboard Value LP intends to nominate five directors to the U.S. drugmaker's board, one month after it announced a $74 billion deal to acquire peer Celgene Corp.
Bombardier to deliver handful of Global 7500 jets in first half 2019
(Reuters) - Bombardier Inc, the Canadian train and plane maker, will deliver a handful of its new flagship Global 7500 business jets to customers in the first half of 2019, with the remaining 10-15 deliveries expected in the second half, its chief financial officer said on Wednesday.
Tesla's top lawyer leaves two months into the job
(Reuters) - Tesla Inc said on Wednesday its general counsel Dane Butswinkas is leaving the electric carmaker just two months into the job, the latest in a string of top-level departures at the company.
Global Markets: Stocks up on Asia push, muted Wall Street eyes Fed minutes
NEW YORK (Reuters) - World stocks rose on Wednesday, hitting a four-month high on hopes for progress in trade talks between the United States and China, and a supportive backdrop from major central banks also helped push risk assets higher.
Palladium surges past $1,500 for first time; gold gains
(Reuters) - Palladium jumped above the $1,500 per ounce mark for the first time on Wednesday, propelled by a stark supply deficit, while gold hit a 10-month high on a weaker dollar as investors awaited cues on U.S. monetary policy.
Only Jio, BSNL add mobile users in Dec, Voda Idea lost maximum: Trai
Telecom subscribers in the country grew marginally to 119.7 crore in December with only two operators, Reliance Jio and state-run BSNL, reporting addition in their user base, according to a Trai report. Reliance Jio added 85.64 lakh users and BSNL 5.56 lakh customers to their network taking their subscriber base to 28 crore and 11.4 crore respectively in December. An increase in number of subscribers for BSNL has come at a time when the government has asked the PSU to explore options, including shutting down operations, due to heavy losses. "The number of telephone subscribers in India increased from 1,193.72 million at the end of November 2018 to 1,197.87 million at the end of December 18, thereby showing a monthly growth rate of 0.35 per cent," the Telecom Regulatory Authority of India (TRAI) said in its subscriber report for the month of December. Mobile subscriber base reached 117.6 crore in the month. Vodafone Idea lost the highest number of 23.3 lakh mobile subscribers but ...
Sebi exempts 2 family trusts related to Navkar Corporation from making open offer
Market regulator Sebi Wednesday exempted two private family trusts related to the promoter group of Navkar Corporation Limited from the obligation of making an open offer following its proposed acquisition of 31.4 per cent stake in the firm. Nemichand Mehta Family Trust and Shailaja Mehta Family Trust had sought exemption from the obligation of making open offer post acquisition of certain number of shares in Navkar Corporation. Under the proposed acquisition, both trusts would be acquiring a total of 31.4 per cent equity shares of Navkar from the company's promoter Nemichand Mehta and Shailaja Mehta who are also trustees of both Mehta Family trusts. The proposal has been made following a private family arrangement to provide for family succession and welfare of Mehta Family. In an order, Sebi has granted exemption to both the trusts from making the open offer, saying the proposed acquisition would take place pursuant to a private family arrangement intended for succession and welfare
India, Saudi need to explore opportunities in new products, biz: Prabhu
India and Saudi Arabia need to explore opportunities in new products, businesses and regions to boost trade and investment ties between the countries, Commerce and Industry Minster Suresh Prabhu said Wednesday. Ways to increase trade and investments were discussed during a meeting between Prabhu and the Saudi delegation, which was led by Kamel Al-Munajjed, Chairman of Saudi Indian Business Council. "India's energy security is ensured due to the continuous and uninterrupted supply of petroleum products from Saudi Arabia. But now it is time for both the countries to go beyond petroleum and diversify into new products, businesses and regions," Prabhu said in a statement. He said that opportunities are endless for both the countries to collaborate and work together in new regions like Africa. "Both Saudi Arabia and India have to now look beyond the Gulf region and explore new markets," he said. He also informed that India is looking to invest in Saudi Arabia. "For this eight working ...
DoT panel may decide on penalty on 3 telcos, MTNL's VRS on Feb 21
The Digital Communications Commission, an inter-ministerial panel of the Department of Telecom, will examine the TRAI recommendations of a penalty of Rs 3,000 crore on the allegation of breach of quality of service licensing condition against Airtel, Vodafone and Idea who had not merged then as well as a VRS scheme for struggling PSU, MTNL.
Corporation Bank, Allahabad Bank next in line for PCA exit
Corporation Bank and Allahabad Bank, who have received the maximum recap funds in Wednesday's infusion, are the most likely candidates to get out of the PCA (prompt corrective action) in the next round.
Merger of Vijaya Bank and Dena Bank with BoB to be effective from Apr 1
Bank of Baroda on Wednesday said the merger of Dena Bank and Vijaya Bank with itself would be effective from April 1 as per the scheme of amalgamation approved by the government. Besides, the board of the bank fixed March 11, 2019, as record date for issuing and allotting equity shares of the Bank of Baroda to the Shareholders of Vijaya Bank and Dena Bank. This scheme may be called the Amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda Scheme, 2019, BoB said citing the government notification. "It (amalgamation) shall come into force on the 1st day of April, 2019," it said. As per the Scheme of Amalgamation, shareholders of Vijaya Bank will get 402 equity shares of BoB for every 1,000 shares held. In case of Dena Bank, its shareholders will get 110 shares for every 1,000 shares of BoB. The government in September last year had announced merger of state-owned Vijaya Bank and Dena Bank, with larger peer Bank of Baroda, aiming to create the third largest lender after SBI and ..
Saudi Aramco in talks on further Indian investments
NEW DELHI (Reuters) - Saudi Aramco, the world's top oil exporter, is in talks on possible investments in Indian projects involving companies including Reliance Industries, operator of the world's biggest refining complex, its chief executive said on Wednesday.
Gujarat's public debt breaches Rs 2 lakh crore mark
With a steep rise of Rs 18,000 crore in one year, Gujarat's public debt stands at Rs 2,17,338 crore as per the revised estimates of 2017-18, the legislative assembly was informed Wednesday. Responding to a written query raised by Congress MLA Kanti Parmar during Question Hour, Deputy Chief Minister Nitin Patel, who handles finance portfolio, said as per the revised estimates for 2017-18, Gujarat's owes Rs 2,17,338 crore as public debt, a rise of rise of Rs 18,000 crore from 2016-17. Patel had informed the House that Gujarat's debt was Rs 1,99,338 as on March 2017. In 2016-17, the state government paid Rs 16,087 crore as interest and Rs 9,073 crore towards principal against the borrowings by the state, Patel said in his written response. As per the revised estimated of 2017-18, the state paid Rs 17,178 crore towards interest and Rs 13,701 crore as principal, it said.
Israeli VC Jerusalem Venture Partners raises $220 million for new tech fund
TEL AVIV (Reuters) - Venture capital firm Jerusalem Venture Partners (JVP) said on Wednesday it closed a new fund with investment commitments of $220 million.
Flight cancellations affect Jan air passenger growth
India's domestic air passenger traffic growth slowed in January as airlines cancelled flights due to reasons like weather related events.
Steve Cohen's venture firm invests in U.S. cybersecurity company
NEW YORK (Reuters) - Billionaire investor Steve Cohen's Point72 Ventures has invested in a U.S. cybersecurity firm that will provide a way to detect, alert, and protect against data- and identity-related attacks, according to one of the venture capital company's top officials.
Southwest probes cancellations, says shutdown cost $60 million
(Reuters) - Southwest Airlines Co added a $60 million hit from the recent U.S. government shutdown to its list of headaches on Wednesday as it investigated whether a conflict with its mechanics union was adding to a rise in flight cancellations.
China will not change prudent monetary policy - Premier Li
BEIJING (Reuters) - China has not and will not change its prudent monetary policy and will not resort to "flood-like" stimulus, Premier Li Keqiang said on Wednesday.
Influencers manipulating social media in India, Indian IT Act silent (IANS Special)
If the Cobrapost investigation which revealed that several Bollywood celebrities were willing to pass views of political parties as personal opinion for money shook your conscience, but there is not much that you could do to restrict them from doing so because the relevant Indian law is silent on this matter.
Wall Street opens flat as investors assess U.S.-China trade talks
(Reuters) - U.S. stocks opened little changed on Wednesday, after a handful of downbeat earnings reports, while investors weighed the latest developments in trade talks between the United States and China.