Business News
Browse all articles and features filed under the News desk.
Why Indian rupee is falling against the US dollar
The rupee started at just above 66 on January 1, 2016 but since then has been moving sharply downwards with the currency crossing the 67 level on the...
Pound Hits Near Six-Year Low Against Dollar
Pound Hits Near Six-Year Low Against Dollar Sterling is on the slide amid worries over the economy and inflation looking likely to remain low as oil f...
Macy's Cutting 4,800 Jobs And Closing 40 Stores
The department store chain saw a 5.2% drop in sales in November and December as shoppers switch online. Macy's has announced it is cutting up to 4,800...
UK New Car Sales Reach All-Time High In 2015
Numbers top 2.63 million after a record December though Volkswagen saw volumes slip last month after the diesel emissions scandal. New car sales reach...
Drop in oil prices might continue through first half of 2015, says IEA
The IEA predicts global oil prices will continue to drop through early 2015 due to weak demand and increased supply. Despite a slight demand increase forecast for 2015, production from OPEC and unconventional fields remains high.
Facebook founder Mark Zuckerberg donates USD 25 million to fight Ebola
Mark Zuckerberg and his wife Priscilla Chan have donated $25 million to the CDC to combat the Ebola virus. The Facebook founder emphasized the urgency of controlling the epidemic to prevent a long-term global health crisis.
MFs' exposure to bank stocks hits record-high
Mutual fund (MF) managers raised their exposure in bank stocks to an all-time high of nearly Rs 55,000 crore in June this year amidst soaring equity market. According to the latest data available with market regulator Sebi, mutual fund (MF) investments in banking stocks reached R
Narendra Modi hints at increased private sector role in Railways
Ahead of the Rail Budget, Prime Minister Narendra Modi on Friday hinted at an increased role of the private sector in development of railways. "We want the railway stations to have better facilities than airports. This is our dream and it is not a difficult thing to do and this i
Gold price falls; silver rises by Rs 300
Gold prices fell by Rs 10 to Rs 28,650 per 10 grams in the national capital on Friday on decline in demand for the metal at prevailing levels, amid a weak global trend. However, silver continued its rising trend for the third straight day and rose by Rs 300 to Rs 45,300 per kg on
Sensex crosses 23,000 points on BJP win hopes
The BSE Sensex hit a record high on Friday on hopes the opposition Bharatiya Janata Party would win a majority in elections set to conclude next week, sending blue-chips such as ICICI Bank sharply higher. The five-week-long elections are set to conclude on Monday, with exit polls
HCL Tech Q3 net profit up 59 pc at Rs 1,624 cr
IT services firm HCL Technologies on Thursday posted 59 per cent increase in net profit at Rs 1,624 crore for the quarter ended March 31, 2014. The Noida-based firm had posted a net profit of Rs 1,021 crore in the corresponding quarter of last fiscal (2012-13), HCL Technologies s
Sensex rises to fresh record high; capital goods stocks gain
A benchmark index of Indian equities markets touched a new record high of 22,792.49 points for the second consecutive day on Thursday, surpassing the high of 22,740.04 points it touched on Wednesday. Healthy buying was observed in capital goods, banks and automobile stocks, while
RBI allows foreign investors to hedge currency risks
To improve risk mitigating environment in the country, the Reserve Bank of India (RBI) has allowed overseas investors to hedge their currency exposure. In its first bi-monthly policy, the central bank, in order to enhance hedging facilities for foreign investors in debt instrumen
Grounded Kingfisher posts $132 million Q3 loss
Vijay Mallya's grounded Kingfisher Airlines has reported yet another quarterly loss as it had no income from operations. The airline has not flown in more than a year. The low-cost carrier on Wednesday said net loss was Rs 8.22 billion for its third quarter ended December 31, com
BSE Sensex falls on selling by funds, retail investors
The BSE Sensex fell over 90 points in opening trade on selling by foreign funds and retail investors, triggered by a weak trend in the Asian region. The 30-share index of the Bombay Stock Exchange fell by 90.36 points, or 0.44 per cent, to 20,423.49. The Sensex had gained 15.60 p
Delhi Metro expansion to be funded by $1.95 bn Japanese loan
Japan on Saturday announced 200 billion yen ($1.95 bn) in new loans for extension of the Delhi Metro and two other projects as visiting Japanese Prime Minister Shinzo Abe and Prime Minister Manmohan Singh held talks in New Delhi on boosting economic and strategic cooperation. Bot
Bharti Airtel to acquire Warid's Congo operations
In a bid to strengthen its footprint in the African market, Bharti Airtel on Tuesday said it has entered into a definitive agreement with the Warid Group to acquire its Congo operations. The acquisition will make Airtel the largest mobile operator in the Republic of Congo with ar
BSE Sensex regains 21,000 level after a gap of almost 3 years
Snapping a two-session losing streak, the benchmark BSE Sensex rose above the 21,000 level for the first time in nearly 3 years on Thursday following capital inflows ahead of the RBI's policy review next week. At 10.08 am, Sensex was up 254.46 points at 21022.34. Similarly, Nifty
Forex reserves rise from $1.51 bn to $279 bn
India's foreign exchange reserves rose by a healthy $1.51 billion to touch $279.240 billion in the week to October 11 on account of growth in a key component of the assets, the Reserve Bank said on Friday. This was the second straight week of gains. In the previous week, the rese
Jaguar Land Rover global sales up 28 per cent in August
Tata Motors-owned Jaguar Land Rover has reported a 28 per cent increase in its global sales in August this year at 27,852 units. The auto major's sales jumped 43 per cent in the China Region, 40 per cent in North America, 36 per cent in the UK, 35 per cent in Asia Pacific and 18