Page 953 - Business Finance
U.S. government posts $14 billion deficit in December
WASHINGTON (Reuters) - The U.S. federal government ran a $14 billion budget deficit in December as revenues sagged following last year's tax cuts even as the economy appeared strong, Treasury Department data showed on Wednesday.
T-Mobile, Sprint executives face sceptical House panel
WASHINGTON (Reuters) - Executives from T-Mobile US Inc and Sprint Corp faced tough questions from lawmakers on Wednesday about how the companies' planned merger would affect prices and jobs, especially in rural America.
AYUSH ministry launches e-AUSHADHI portal
To increase transparency and accountability, the Ministry of AYUSH launched the e-AUSHADHI portal on Wednesday for online licensing of Ayurveda, Siddha, Unani and Homoeopathy drugs and related matters. Addressing the gathering at the launch programme here, AYUSH Minister Shripad Yesso Naik said the portal was intended for increased transparency, improved information management facility, improved data usability and increased accountability. He informed that timelines would be fixed for processing of applications through the portal with text message and e-mail status updates at each step of the process. "Such an initiative of the Ministry of AYUSH is a reflection of our government's commitment towards e-governance, ease of doing business and Make in India," Naik said. Speaking on the occasion, Vaidya Rajesh Kotecha, Secretary, Ministry of AYUSH, said the ministry endeavoured to come out with new initiatives and solutions to address the problems faced by practitioners, manufactures and ..
Hilton's better-than-feared forecast drives shares higher amid trade worries
(Reuters) - Hilton Worldwide Holdings Inc on Wednesday provided a better-than-feared outlook for its key U.S. and China markets amid concerns around slowing global economic growth and trade wars, sending its shares up 7 percent.
Cabinet okays inking 3 MoUs with Saudi Arabia
The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the signing of three Memorandums of Understanding (MoUs) with Saudi Arabia for strengthening cooperation in the fields of tourism, customs and investment.
Wall Street rises on optimism over U.S.-China trade talks
(Reuters) - Wall Street's main indexes traded higher on Wednesday, though off session highs, boosted by rising expectations that the United States and China could reach a deal during their ongoing trade talks, with benign inflation data offering support.
Pledged share sale: Reliance Power drags Edelweiss group to HC, but gets no relief
Anil Ambani-led Reliance Power Ltd (RPL) Wednesday moved the Bombay High Court seeking to reverse the sale of its pledged shares by the Edelweiss group, but the court refused to grant it any interim relief. A single judge bench headed by K R Shriram refused to order the reversal of the sale process or grant any other relief to RPL, and posted the matter for detailed hearing on Thursday. Apart from reversal of share sale, the RPL petition has also demanded damages of Rs 2700 crore. Significantly, the petition does not name L&T Finance as a respondent, though Reliance group had also named it in a public statement last Sunday. The move comes after a war of words between the two companies last week after the Edelweiss and L&T Finance had sold pledged shares of Reliance Power and other group companies following steep correction in stock prices after Reliance Communication decided to file for bankruptcy on February 1. Since then the group companies have lost around 70 per cent of ...
US Commerce Secretary cancels India visit due to 'inclement weather'
US Commerce Secretary Wilbur Ross has cancelled his visit to India owing to the cancellation of his flight due to "inclement weather and logistical issues", and will now take part in his slated India engagements via video conference, a US Department of Commerce spokesperson said on Wednesday.
Ghosn changes lawyer team, adds hotshot attorney, in change of strategy
TOKYO (Reuters) - Carlos Ghosn's chief defence attorney Motonari Otsuru resigned and was replaced by a team that includes hotshot lawyer Junichiro Hironaka, in a change of strategy from the ousted Nissan Motor chairman three months after his arrest.
Dewan Housing CEO resigns after allegation of mismanagement
NEW DELHI (Reuters) - India's Dewan Housing Finance Corp Ltd, which was hit by claims of financial mismanagement last month, said on Wednesday its Chief Executive Harshil Mehta has resigned.
Jeans maker Levi Strauss files for stock market comeback
(Reuters) - Jeans maker Levi Strauss & Co on Wednesday filed documents to list itself on the New York Stock Exchange, seeking to return to public markets after more than three decades.
Deutsche Bank to cut 1,950 jobs in Postbank integration: Handelsblatt
FRANKFURT (Reuters) - Deutsche Bank is planning to cut 1,950 jobs as part of the integration of its Postbank business, newspaper Handelsblatt reported, citing people familiar with the matter.
Exclusive: Volkswagen, Ford far apart on investment in Ford autonomous unit - sources
(Reuters) - Partners Volkswagen AG and Ford Motor Co are at odds over how much the German automaker will invest in the No. 2 U.S. automaker's self-driving vehicle unit, with Ford seeking at least $500 million, people familiar with the negotiations said.
T-Mobile, Sprint executives face skeptical House panel
WASHINGTON (Reuters) - Executives from T-Mobile US Inc and Sprint Corp faced questions from lawmakers on Wednesday about how the companies' planned merger would affect prices and jobs, especially in rural America.
NBCC'S Q3 net profit up 26%
Public sector construction major NBCC (India) on Wednesday reported a rise of 25.61 per cent in its standalone net profit for the third quarter of the current fiscal.
Lower gasoline prices restrain U.S. consumer inflation
WASHINGTON (Reuters) - U.S. consumer prices were unchanged for a third straight month in January, leading to the smallest annual increase in inflation in more than 1-1/2 years, which could allow the Federal Reserve to hold interest rates steady for a while.
Reliance Capital consolidated net at Rs 213 crore
Reliance Capital Ltd on Wednesday said it closed the third quarter ended Dec 31, 2018 with a consolidated net profit of Rs 213 crore.
Cabinet approves leasing of land for 'Kisan Mandi'
The Union Cabinet on Wednesday approved the proposal for leasing out 1.61-acre land of the Delhi Milk Scheme in Delhi's Alipur to Small Farmers Agribusiness Consortium (SFAC) to set up "Kisan Mandi", said an official.
Indo-US biz dialogue: Wilbur Ross to participate via video conference
US Commerce Secretary Wilbur Ross will participate in the Indo-US commercial dialogue Thursday through video conferencing as his flight got cancelled, the Commerce Ministry said Wednesday. "US Ambassador to India Kenneth Juster will lead the discussions for the India US CEO Forum and commercial dialogue," it said in a statement. Commerce andIndustry Minister Suresh Prabhuwas scheduled to hold these meetings with his US counterpart Ross here. A US Department of Commerce spokesperson in a statement said, Due to inclement weather, technical problems that led to the cancellation of his flight, and other logistical issues, Secretary Ross regrets he is no longer able to attend the CEO Forum and Commercial Dialogue in person. "He intends to participate in most of the sessions remotely and thanks our private sector and Government of India hosts for their continued partnership as we further strengthen the ties between our two countries. The statement said that due to cancellation of flight, ...
George Ettiyil new Senior Director-Sales, South Asia of Lufthansa Group
Lufthansa Group Airlines on Wednesday said it has appointed George Ettiyil as its new Senior Director-Sales, South Asia, effective February 2019.