Page 975 - Business Finance
Investors most bullish on U.S. Treasuries since September 2016: survey
NEW YORK (Reuters) - Bond investors were the most bullish about owning U.S. longer-dated government debt since September 2016, a couple of months before Donald Trump was elected U.S. president, a J.P. Morgan survey showed on Tuesday.
Red flags emerge as U.S. household debt notches another record
NEW YORK (Reuters) - Some red flags emerged for the U.S. economy late last year as riskier borrowers drove home automobiles, credit card inquiries fell, and student-loan delinquencies remained high, according to a report that could signal a downturn is on the horizon.
Gold little changed as dollar eases on U.S.-China trade optimism
(Reuters) - Gold prices were little changed on Tuesday, buoyed by a slight retreat in the U.S. dollar amid optimism for a resolution to the U.S.-China trade conflict.
Sodexo's sport and leisure business targets China in growth drive
PARIS (Reuters) - Sodexo's sport and leisure business, which provides catering at the U.S. Super Bowl, Royal Ascot and the Eiffel Tower, will focus on organic growth as it integrates its 2017 U.S. acquisition Centerplate.
Govt proposes to sell 100% stake in AI ground handling arm AIATSL
The government has offered to sell 100 per cent stake in debt-laden Air India's subsidiary Air India Air Transport Services Ltd (AIATSL). Restarting the divestment process for the ailing national carrier, the preliminary information memorandum for disinvestment of AIATSL, the ground handling arm, was issued on Tuesday. The government would offload 98 per cent stake through strategic sale and the remaining 2 per cent would be offered to the employees of AIATSL. AIATSL posted a net profit of Rs 711 crore in 2017-18, higher than Rs 334 crore recorded in the same period a year ago, as per the memorandum. As on January 1, 2019, AIATSL had 1,372 permanent and 11,790 contract employees. Around 42 per cent of the permanent employees of the subsidiary would be retiring in the next five years, as per the memorandum. AIATSL has been providing services to 46 airlines, including Emirates, GoAir, Qatar Airways and Lufthansa, as on January 1. The government's efforts for strategic stake sale of Air
Thyssenkrupp bows to activist investor by simplifying organisation
FRANKFURT (Reuters) - Thyssenkrupp's decision to simplify its corporate structure marks a victory for activist investor Cevian as the German conglomerate strives to keep shareholders onboard with its broader restructuring plan.
Wall Street climbs on trade optimism, hopes of averting government shutdown
(Reuters) - Wall Street's main indexes rose over 1 percent on Tuesday, in a broad-based rally fueled by a tentative deal reached by American lawmakers to avoid another partial government shutdown and hopes that the U.S.-China trade talks could result in an agreement.
International headwinds appears easing, elections still to be looked out for: Report
A report on Tuesday said the international macro headwinds appear to be easing while the upcoming general election is the "last major event" for the investors to look out for.
Suspicious income tax refund claims rising, under I-T Dept scanner: Government
There has been an increase in detection of suspicious refund claims in the last few years while the total amount of I-T refunds during 2018-19 (up to February 2, 2019) stood at Rs 1.43 lakh crore, Minister of State for Finance Shiv Pratap Shukla said on Tuesday.
Kering upbeat on Gucci prospects and China
PARIS (Reuters) - France's Kering offered up a bullish view of the Chinese market and said its star brand Gucci started 2019 on a good footing, in what is already shaping up to be a year of contrasting fortunes across the luxury goods industry.
India, France drive Scotch whisky sales as Brexit looms
EDINBURGH (Reuters) - The value of Scotch whisky exports rose nearly 8 percent in 2018, backed by booming sales in India, France and the United States and the impact of pricier Scotch, data from Britain's tax authority HMRC showed on Tuesday.
Wall Street gains on trade optimism, progress to avert government shutdown
(Reuters) - Wall Street rose on Tuesday, fueled by a tentative deal reached by U.S. lawmakers to avoid another partial government shutdown and optimism that the United States and China could reach an agreement during their ongoing trade talks.
Coal India net profit up 50% in Q3
Coal India on Tuesday reported a 50 per cent increase in its net profit to Rs 4,566.81 crore during the third quarter of the current fiscal (FY19), as compared to Rs 3,042.68 crore in the year-ago period.
Coal India Q3 net profit jumps 50 pc to Rs 4,566 cr on higher income
State-owned Coal India Tuesday said its consolidated net profit rose 50 per cent to Rs 4,566.81 crore during the third quarter ended December 31, on higher income. The company had posted Rs 3,042.68 crore net profit during the same quarter a year ago, Coal India said in a BSE filing. Its total income during the quarter under review rose to Rs 26,209.13 crore from Rs 22,820.88 crore in the year-ago period. During October-December 2018, the company said, its total expenses were at Rs 19,181.06 crore as against 18,172.78 crore in the corresponding period previous fiscal. Production during the quarter stood at 155.97 million tonnes as against 152.73 MT. Shares of the company Tuesday ended up 1.92 per cent at Rs 222.95 apiece on the BSE.
It will take another 2-3 years to identify all investors in
The Judicial Commission probing the multi-crore chitfund scam in Odisha on Tuesday said it will take another two to three years to identify all the bonafide small investors who were duped by several ponzi scheme firms. This was stated by retired judge of the Orissa High Court, Justice M M Das, who is heading the one-man panel, after the commission submitted its sixth interim report to the state government. The Odisha government had set up the commission on February 5, 2015 to take up the inquiry into the unauthorised collection of public deposits in the state, sources said Das said the Commission initially had received over six lakh affidavits from small investors of which some four lakh affidavits have already been scrutinised. "From the scrutinised affidavits, 3,61,817 investors so far have been identified as genuine and from them, only 1,714 investors have got back their invested money", the Commission said. The Commission, in the meantime has received another 6.5 ...
Thoma Bravo to take Ellie Mae private in $3.7 billion deal
(Reuters) - Private equity firm Thoma Bravo LLC is acquiring Ellie Mae Inc for $3.7 billion, the mortgage software company said on Tuesday.
PM to address CREDAI conference in Delhi
Prime Minister Narendra Modi will Wednesday address a real estate conference organised by realtors' apex body CREDAI in the national capital. The prime minister will address the CREDAI YouthCon-19 on February 13 at Talkatora Stadium here, an official statement said. "The Prime Minister will also visit the exhibition organised by CREDAI," it added. YouthCon is the annual youth conclave of the Confederation of Real Estate Developers' Association of India (CREDAI), held to bring together the future of the real estate Industry in India. Earlier, CREDAI had said in a statement that Vice-President M Venkaiah Naidu, Finance Minister Piyush Goyal and Housing and Urban Affairs Minister Hardeep Singh Puri are also scheduled to address the two-day event. "CREDAI's initiatives towards the development of the Indian real estate know no bounds and aim to create an extremely conducive environment to spearhead the growth of the Indian economy," Jaxay Shah, national president at CREDAI, ...
Airline went through some unfortunate incidents: AirAsia India CEO
AirAsia India had recently gone through some "unfortunate incidents", but was able to put everything behind it, Sunil Bhaskaran, the CEO of the company, said on Tuesday. In May last year, the CBI had registered a case against AirAsia Group CEO Tony Fernandes, Tata Trusts Managing Trustee R Venkataramanan and other executives for allegedly trying to manipulate government policies through corrupt means to get international licence for the airline. "If you look at the recent history of Air Asia, we have gone through some unfortunate incidents, issues which are not really comforting for any company. We have had the company without a CEO for six months. "We had other issues in the past, because of which there had been a sense of uncertainty. But I think that is all behind us," Bhaskaran said at the CAPA India Aviation Summit 2019 here. AirAsia India is a joint venture between the Tata Group, which owns 51 per cent stake, and Malaysia's AirAsia Berhad. Bhaskaran was appointed the chief ...
Bihar Budget gives top priority to education; no new taxes
The Bihar government Tuesday attached top priority to education sector in its Budget for 2019-20 with a highest-ever allocation of Rs 34,798.69 crore with no new taxes for its citizens. Besides, the Budget also laid special emphasis on sectors like roads, health and energy. Presenting the budget in the Legislative Assembly, Deputy Chief Minister-cum-Finance Minister Sushil Kumar Modi said the Budget of Rs 2,00,501.01 crore is Rs 23,510.74 crore more than the current 2018-19 year's Budget of Rs 1,76,990.27 crore. The size of the state's budget has increased nine fold to touch Rs 2,00,501 crore in 2019-20, from Rs 23,885 crore in 2004-05, Modi said while presenting his 10th budget in the Assembly. Except for financial year 2012-13, the state has been presenting a revenue surplus budget consistently since 2008-09, he said adding that the state had revenue surplus of Rs 14,823 crore in 2017-18 and Rs 21,311 crore in 2018-19 while it is expected to be Rs 21,516 crore in ...
Cargo traffic handled by major ports up 3.11 pc to 578 MT in Apr-Jan
Major ports of the country together handled 578.86 Million Tonnes (MT) of cargo during April-January 2019, representing a growth of 3.11 per cent, an official statement said Tuesday. The major ports had handled 561.39 MT cargo in the corresponding period of previous fiscal, the Ministry of Shipping said in a statement. "The major ports in India have recorded a growth of 3.11 per cent and together handled 578.86 MT of cargo during the period April to January, 2019 as against 561.39 MT handled during the corresponding period of previous year," it said. For the period from April 2018 to January 2019, nine ports Kolkata (inclduding Haldia), Paradip, Visakhapatnam, Kamarajar, Chennai, Cochin, New Mangalore, JNPT and Deendayal have registered positive growth in traffic, it added.