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Fiat Chrysler to spin off Ferrari into separate unit

Oct 29, 2014 at 22:12 | Source: BBC

Fiat Chrysler Automobiles (FCA) plans to spin off Ferrari and sell a 10% stake in the luxury carmaker on the stock market. The remaining Ferrari shares would be distributed among FCA shareholders. The carmaker wants to complete the spin-off next year...

Bank of America sees profit fall on mortgage settlement

Oct 15, 2014 at 21:57 | Source: BBC

Bank of America has reported a big drop in profits due to a multi-billion dollar settlement with US authorities. Net profit for the three months to the end of September was $168m (£106m), down from $2.5bn a year earlier. Total revenue was $21.4bn. T...

Twin hurdles to ONGC share sale

Oct 13, 2014 at 12:47 | Source: Calcutta Telegraph News

New Delhi, Oct. 12: The stake sale in state-owned ONGC could be pushed back to the end of the current quarter on account of a lack of clarity on new gas prices and the subsidy sharing formula. While the government has indicated that the new gas pric...

Reliance looks to exit gas venture in US

Oct 12, 2014 at 14:22 | Source: Calcutta Telegraph News

Mumbai, Oct. 11: Reliance Industries is seeking a buyer for its stake in the Eagle Ford Basin oil and natural gas joint venture with Pioneer Natural Resources in the US. Reliance has an interest of over 45 per cent in the property that it acquired i...

Rating blow to Infy scrip

Oct 09, 2014 at 18:42 | Source: Calcutta Telegraph News

Mumbai, Oct. 8: Shares of Infosys were battered today following a downgrade by foreign brokerage Citigroup. This comes at a time expectations are building up ahead of the company’s second-quarter results on Friday. Citi downgraded the stock to...

Argentina found to be in contempt of court by US judge

Sep 30, 2014 at 12:57 | Source: BBC

A US judge has ruled that the Republic of Argentina is in contempt of court for refusing to obey an order to repay the debt it owes to two US hedge funds. Argentina has been mired in a US court dispute with the funds, which bought the country's ...

Indian media praise Modi's investment pitch to US firms

Sep 30, 2014 at 12:57 | Source: BBC

Papers are praising Prime Minister Narendra Modi's efforts to sell India as an investment destination to US companies. Mr Modi, who is on a five-day visit to the US, met the CEOs of top companies in New York on Monday. During the breakfast meeti...

Protesters stay out on Hong Kong streets, defying Beijing

Sep 30, 2014 at 01:15 | Source: FirstPost

HONG KONG (Reuters) - Tens of thousands of pro-democracy protesters blocked Hong Kong streets in the early hours on Tuesday, maintaining pressure on China as it faces one of its biggest political challenges since the Tiananmen Square crackdown 25 yea...

In US, PM Narendra Modi will market Brand India to top CEOs

Sep 27, 2014 at 04:22 | Source: Economic Times

NEW DELHI/WASHINGTON: When Prime Minister Narendra Modi sits down to breakfast with the CEOs of top US companies Monday, he will be speaking to them with the knowledge and authority of a business honcho who knows what he wants and can possibly marke...

Rivals dash to support Apple Pay for fear of losing out

Sep 19, 2014 at 23:56 | Source: Economic Times

FRANKFURT: In the hype-fuelled technology industry, "revolutionary" is a word in danger of losing its meaning. But Apple Inc's new mobile payments system - unveiled just ten days ago - is already winning over the heavyweights of the financial industr...

Apple Pay can be a game changer if backed by retailers

Sep 11, 2014 at 11:31 | Source: Economic Times

Apple Inc's launch of its own tap-to-pay system using near-field communication in its new iPhones and smartwatches may not be a game changer after all. The success of Apple Pay, unveiled at a gala launch on Tuesday, hinges on the willingness of retai...

Cabinet clears selloff in PSU trio

Sep 11, 2014 at 08:37 | Source: Calcutta Telegraph News

New Delhi, Sept. 10: The Modi government today kick-started the divestment process by approving a stake sale in Coal India, ONGC and NHPC, which is likely to fetch the exchequer about Rs 43,000 crore this financial year. The Cabinet Committee on Eco...

Retailers seen unlikely to warm up to Apple Pay

Sep 11, 2014 at 04:35 | Source: Economic Times

Apple Inc's launch of its own tap-to-pay system using near-field communication in its new iPhones and smartwatches may not be a game changer after all. The success of Apple Pay, unveiled at a gala launch on Tuesday, hinges on the willingness of reta...

Indian bank branches in UK face closure heat

Sep 08, 2014 at 08:57 | Source: Calcutta Telegraph News

London, Sept. 7 (PTI): At least seven foreign-owned retail bank branches in the UK, including some Indian ones, could be forced to close down in a crackdown on overseas banks to insulate the British economy from the global crises. A consultation lau...

RBI may tweak priority lending rules to suit foreign banks: Raghuram Rajan

Sep 06, 2014 at 06:00 | Source: Economic Times

KOLKATA: Reserve Bank of India is thinking of tweaking the priority sector lending rules to suit foreign banks while it plans to make non-banking finance companies more robust, governor Raghuram Rajan said in Boston on Thursday. Rajan, who has compl...

Concerts on Yahoo make best of industry struggles

Aug 02, 2014 at 05:02 | Source: Economic Times

LOS ANGELES: Sometimes the struggles of an industry can bring music to your ears. And your screens. Live Nation's partnership with Yahoo to stream one live concert every day is a rare win for music fans. The series, which began with the Dave Matthews...

Bank of America reports 43% drop in quarterly profits

Jul 16, 2014 at 22:32 | Source: BBC

Bank of America has reported a 43% drop in its second-quarter profits after a fall in mortgage revenue and a rise in legal costs. The bank, the US's second largest, said net income of $2.3bn (£1.34bn) was down from $3.4bn (£1.99bn) a year earl...

Citigroup pays $7bn to settle sub-prime mortgage probe

Jul 14, 2014 at 18:52 | Source: BBC

Banking giant Citigroup will pay $7bn (£4bn) to US authorities to settle an investigation into risky sub-prime mortgages. Citigroup will pay $4bn (£bn) to the Department of Justice and $2.5bn for consumer relief . Consumer relief includes investmen...

Citigroup pay $7bn to US authorities over shoddy mortgages

Jul 14, 2014 at 17:32 | Source: BBC

Banking giant Citigroup will pay $7bn (£4bn) to US authorities to settle an investigation into risky sub-prime mortgages. Citigroup will pay $4bn (£bn) to the Department of Justice and $2.5bn for consumer relief . Consumer relief includes investmen...

Citigroup set to announce new jobs in Belfast

Jul 14, 2014 at 17:32 | Source: BBC

Citigroup, the US financial services firm, is set to an announce a significant investment in its Belfast operation. Industry sources have told the BBC that the firm is expected to announce at least 100 new jobs. Citigroup first invested in Belfast in...

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