Page 974 - Business Finance

Venezuela turns to Asia as sanctions cut oil flow to U.S., Europe

HOUSTON/MEXICO CITY/MOSCOW(Reuters) - Venezuela's oil exports have tapered off and shifted toward Asia since new U.S. sanctions began Jan. 28 as state-run oil company PDVSA seeks to replace deliveries to the United States and Europe that were disrupted by payment restrictions.

Wall Street rises on trade hopes, deal to avoid government shutdown

NEW YORK (Reuters) - Wall Street rallied on Tuesday as investors were heartened by a tentative congressional spending deal to avoid another government shutdown and by positive developments in the U.S.-China trade negotiations.

Thyssenkrupp presses on with split as profits rise

German industrial conglomerate Thyssenkrupp on Tuesday confirmed its earnings forecasts for the full year after increasing profits in its first quarter, while announcing a January 2020 vote on its split into two separate firms. Net profit at the group rose 69 percent between October and December, to 136 million euros (USD 153 million). Revenues at the steelmaker, whose product range stretches from submarines to elevators and car parts, edged two percent higher to reach 9.7 billion euros. Meanwhile adjusted operating profit fell 26 percent, to 333 million. "Thyssenkrupp is operating in attractive markets and our fundamental growth drivers are intact," chief executive Guido Kerkhoff said. "But the figures also show that we have to keep pressing forward with our performance programmes in all business areas," he added. The group said increased sales across all its business areas, notably the elevator business in Europe and North America, contributed to its higher revenues. But even the ..

Abertis agrees to sell Hispasat stake to Red Electrica for 949 million euros

MILAN (Reuters) - Italian infrastructure group Atlantia said on Tuesday Spanish toll road operator Abertis had agreed to sell its 89.7 percent stake in Hispasat to Red Electrica for 949 million euros ($1.1 billion).

Gold firms as dollar eases on U.S.-China trade hopes

(Reuters) - Gold prices edged higher on Tuesday, buoyed by a slight retreat in the U.S. dollar amid optimism about a potential resolution of the U.S.-China trade conflict.

IndiGo cancels 30 flights, adjusts operations to deal with weather disruptions

Budget passenger carrier IndiGo on Tuesday said that it is "adjusting" some flight operations to deal with expected weather related disruptions in the coming days.

India-US defence sales at all time high: Pentagon

Defence sales between India and the US are at an all-time high and bilateral strategic partnership continues to advance at an historic pace, a top Pentagon commander has said. Admiral Philips Davidson, Commander of the US Indo-Pacific Command (USINDOPACOM) told members of the Senate Armed Services Committee, during a Congressional hearing said the the inaugural 2+2 Ministerial in New Delhi last September and signing of the COMCASA in 2018 were pivotal moments in the bilateral relationship. Last year, India and the US signed the COMCASA (Communications Compatibility and Security Agreement) to facilitate interoperability between the two militaries and sale of high end technology. "The US-India strategic partnership continues to advance at an historic pace as we continue to increase our interoperability and information-sharing capabilities," he said. The USINDOPACOM expects this trajectory to continue and that 2019 will be a significant year in bilateral relations, he said and asserted .

Boeing delivers 46 jets in January

(Reuters) - Boeing Co delivered 46 aircraft in January, two more than a year earlier, as the world's biggest planemaker gears up for another year of record sales amid booming demand from the airline industry.

15 IAS, 4 HCS officers transferred in Haryana

The Haryana government ordered transfer of 15 IAS and four HCS officers with immediate effect on Tuesday. The shuffled officers include Vinay Singh, Secretary to Haryana government, Forests Department and deputy commissioner (DC), Sonipat. He has been posted as Commissioner, Hisar Division, relieving Pankaj Yadav of the charge. Sanjay Joon, Managing Director, Haryana Medical Services Corporation Ltd will be the new Deputy Commissioner (DC) of Jhajjar in place of Sonal Goel, who has been made Additional Chief Executive Officer, Faridabad Metropolitan Development Authority against a vacant post. Vinay Pratap Singh, DC, Gurugram will be the new DC of Karnal in place of Aditya Dahiya, who will be the new DC of Jind. Jind's DC Amit Khatri will be the new DC of Gurugram. Dhirendra Khadgata, awaiting posting orders, has been posted as the DC of Fatehabad while Priyanka Soni, Commissioner, Municipal Corporation, Panipat has been posted as DC, Kaithal against a vacant post. Among the Haryana ..

Wall Street rallies on trade optimism, hopes of avoiding government shutdown

(Reuters) - Wall Street's main indexes extended gains on Tuesday, in a broad-based rally after American lawmakers reached a tentative deal to avoid another partial government shutdown and on hopes of an agreement during the ongoing U.S.-China trade talks.

Government to divest 100% stake in AI's ground handling arm

The Central government on Tuesday invited "Expression of Interest" for strategic divestment of national flag carrier's ground handling subsidiary Air India Air Transport Services Ltd (AIATSL).

JSW Steel gets Letter of Intent for Bhushan Power and Steel

The Committee of Creditors (CoC) for Bhushan Power and Steel has issued a Letter of Intent (LoI) to Sajjan Jindal-owned JSW Steel, thereby declaring it a winning bidder for the bankrupt power company, sources said.

(ATTN PRASHANT SAXENA)JSW Steel gets Letter of Intent for Bhushan Power and Steel

The Committee of Creditors (CoC) for Bhushan Power and Steel has issued a Letter of Intent (LoI) to Sajjan Jindal owned JSW Steel, thereby declaring it a winning bidder for the bankrupt power company, sources said.

January CPI inflation halves to 2.05%; December IIP at 17-month low (Roundup)

Lower food prices eased India's January 2019 retail inflation to a 19-month low of 2.05 per cent in January 2019, whereas the country's industrial output in December 2018 was the slowest in the last 17-months at 2.4 per cent, official data showed on Tuesday.

Goldman Sachs to boost number of mid-sized corporate clients: CEO

NEW YORK (Reuters) - Goldman Sachs Group Inc Chief Executive Officer David Solomon said on Tuesday the bank aims to boost the number of mid-size corporate clients it serves over the next few years.

World stocks rally on hopes for U.S.-China trade deal

NEW YORK (Reuters) - Signs that the United States and China might reach an agreement in trade talks and news of a tentative deal to avoid another government shutdown in Washington helped push world stock markets and bond yields broadly higher Tuesday.

Oil gains 2 percent as Saudi Arabia readies more supply cuts

NEW YORK (Reuters) - Oil prices were up more than 2 percent on Tuesday on steep OPEC production cuts, with its de-facto leader Saudi Arabia planning to drop March crude output by more than a half a million barrels per day below its initial pledge.

EU court to rule on legality of Belgian tax break, may affect Apple

BRUSSELS (Reuters) - Europe's second-highest court will rule on Thursday whether a Belgian tax break which benefited some 35 large companies is illegal state aid, a judgment which could provide clues to other tax cases involving Apple, Starbucks and Fiat Chrysler.

Shopify profit forecast misses on higher spending, shares fall

(Reuters) - Canadian e-commerce software maker Shopify Inc's full-year adjusted operating income forecast fell short of analysts' estimates on Tuesday, overshadowing a strong quarterly profit beat and sending its shares down 4 percent.

Oil India's third-quarter profit beats estimate

(Reuters) - State-owned Oil India Ltd on Tuesday posted nearly 75 percent surge in its quarterly profit, handily beating analysts' estimates, boosted by gains from its crude oil segment.