Page 913 - Business Finance
N.Y. Fed cuts U.S. first-quarter GDP view to 1 percent after dismal data
NEW YORK (Reuters) - A New York Federal Reserve forecast program on Friday slashed its estimate on U.S. economic growth in the first quarter in the wake of this week's worrisome data on inflation, retail sales and industrial output.
Wall Street weekahead: Profit estimates may be adding in too much cost risk
NEW YORK (Reuters) - As Wall Street braces for the first quarterly decline in earnings in nearly three years, some investors are wondering if the market is factoring in a bigger erosion in profit margins than will actually come to pass.
Central expects Rs 3,000 crore revenue by this fiscal-end
Central, a premium retail store chain of Future Lifestyle Fashions, is expecting to touch around Rs 3,000 crore topline by end of the current fiscal, an official said on Friday.
Bengal may exceed CGST target: Official
About Rs 12,000 crore of Central Goods and Services Tax (CGST) was collected from West Bengal during the current fiscal till December 2018, an official said on Friday.
UN appoints Indian as Controller and ASG in Management Strategy, Policy & Compliance deptt
The UN has appointed an Indian official in one of the top most positions in its Department of Management Strategy, Policy and Compliance. Chandramouli Ramanathan has been appointed as Controller, Assistant Secretary-General for Programme Planning, Budget and Finance in the management strategy, policy and compliance department, UN spokesperson Stephane Dujarric said. He succeeds Bettina Tucci Bartsiotas of Uruguay, Dujarric said. Ramanathan brings to the position nearly 40 years of executive international experience in diverse organisational settings in finance and budget, management and information technology. He has proven experience leading complex change management initiatives, including implementation of IPSAS (International Public Sector Accounting Standards), and Umoja (the United Nations Enterprise Resource Planning solution). Ramanathan has served as Acting Controller since September 2018, concurrently with his position as Assistant Secretary-General for Enterprise Resource ...
Corrected: Trust in tailings? Vale dam disaster spurs investors into action
(Removes reference to Vale being propped up by a government stake in 10th graph)
Sputtering auto production sinks U.S. manufacturing output
WASHINGTON (Reuters) - U.S. manufacturing fell sharply in January, led by the biggest drop in motor vehicle production since the recession, the latest indication that the economy was losing momentum.
Finance Commission discusses impact of power reforms on states
The Fifteenth Finance Commission on Friday discussed the impact of the power sector reforms on state finances in a meeting with the Ministry of Power.
Industry urges Centre to act to reverse fall in export credit, delays in tax refund
Representatives of industry and exporters on Friday voiced concerns with the government, including the sharp fall in export credit, delay in the refund of input tax credit (ITC) and withdrawal of GSP benefits by the US, at a meeting here of the Board of Trade chaired by Commerce Minister Suresh Prabhu, an official statement said.
RBI threatens action against Yes Bank for disclosing nil divergence report
The Reserve Bank has warned Yes Bank of regulatory action for disclosure of nil divergence report in violation of the confidentiality clause, the private sector lender said Friday. Yes Bank in a press release earlier this week had said the RBI has not found any divergence in the asset classification and provisioning done by the lender during 2017-18. In a regulatory filing Friday, Yes Bank said it has received a letter from the RBI which noted that the Risk Assessment Report (RAR) was marked 'confidential' and it was expected that no part of the report be divulged except for the information in the form and manner of disclosure prescribed by regulations. "Therefore, the press release breaches confidentiality and violates regulatory guidelines. Moreover, NIL divergence is not an achievement to be published and is only compliance with the extant Income Recognition and Asset Classification norms," the RBI said in its letter. "The issuance of the Press Release has, therefore, been viewed ..
Wall Street gains as trade talks advance; Trump to declare emergency
(Reuters) - U.S. stocks posted broad-based gains on Friday, led by a rebound in financials, as investors were optimistic about the ongoing trade talks to resolve a bruising tariff dispute between the United States and China.
JPPL stake sale put on backburner: Jet Airways
The stake sale in JPPL, which manages Jet Airways' customer loyalty program Jet Privilege, has been put on the backburner but the airline has identified a potential buyer for its aircraft as part of its resolution plan, a senior company official said Friday. "We will continue to work on the stake sale in JPPL (Jet Privilege Private Limited) but not immediately and that is why it is not part of the resolution plan," Jet Airways' Chief Financial Officer Amit Agarwal said during a conference call for discussing the third quarter results. Earlier this month, Jet Airways mopped up Rs 250 crore from advance sale of tickets to Jet Privilege, less than five months after raising money through the same route. Abu Dhabi-based Etihad Airways owns 50.1 per cent in JPPL while 49.9 per cent stake is with Jet Airways. "As far as the aircraft is concerned, we have identified the potential buyer, both for sale as well as sale-and-leaseback of some of the other aircraft, and we are well on track and ...
N.Y. Fed halves U.S. first-quarter GDP estimate to 1 percent
NEW YORK (Reuters) - The U.S. economy is growing at a 1.08 percent pace in the first quarter based on this week's disappointing data on inflation, retail sales and industrial output, the New York Federal Reserve's Nowcast model showed on Friday.
PepsiCo says investments to drive sales will dent profit this year
(Reuters) - PepsiCo Inc said on Friday increased investments in advertising and products aimed at boosting sales growth would lead to a fall in profit this year.
Evaluating multiple proposals received for airport business: GMR Infrastructure
GMR Infrastructure Friday said it is evaluating "multiple proposals" received for its airport business. The group owns majority stake in entities that operate the Delhi and Hyderabad airports. Besides, it has airport projects overseas. It also said the Board of Directors of the company at its meeting on February 14 approved constitution of a board sub-committee to consider and evaluate options of demerger to unlock shareholder value in the existing business of the group; raising equity capital in the airport business; and accelerated de-leveraging of the company. This will pave way for the next phase of growth, considering the government's stated intent of faster privatisation of airports in the country which is USD 100 billion investment opportunity, it added. "The company has already received multiple proposals from the investors for the airport business which are currently being evaluated and shall be placed at the meeting of the newly constituted sub-committee of the board," it ...
U.S. factory output drops, autos fall the most since recession
WASHINGTON (Reuters) - U.S. manufacturing output fell steeply in January as motor vehicle production posted its biggest fall since 2009, with declines in a broad range of goods likely to fuel fears of a sharp slowdown in factory activity.
India's forex reserves down $2.12 bn
India's foreign exchange (forex) reserves declined by $2.12 billion during the week ended February 8, official data showed on Friday.
Trust in tailings? Vale dam disaster spurs investors into action
LONDON (Reuters) - Seeking assurances from Brazilian miner Vale by phone after a second deadly dam disaster in three years is not enough for Sasja Beslik. He plans to fly there himself to get answers.
India's services exports rises 12% in December 2018
Services trade surplus improves 6.6% to US$ 6.55 billion in December 2018
Exports rises 3.7% in January 2019
Trade deficit stood at US$ 14.73 billion in January 2019