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RIL's $15.5 bn capex to increase profits by 50% over FY15-18

Mar 31, 2015 at 17:30 | Source: FirstPost

New Delhi: Reliance Industries' $15.5 billion downstream refinery and petrochemical expansion projects are likely to add more than 50 percent to its pre-tax earnings over the next three years, Morgan Stanley said today.In a research note, it said RIL...

Oil prices fall as Iran, world powers seek to break impasse on nuclear deal

Mar 30, 2015 at 11:30 | Source: FirstPost

Oil prices fell on Monday, extending steep losses from the previous session, as Iran and six world powers tried to reach a deal that could add oil to the market if sanctions against Tehran are lifted.The two sides tried to break an impasse in nuclear...

IPO buzz: IndiGo planning to raise around Rs 2500 cr by May-end

Mar 27, 2015 at 15:50 | Source: FirstPost

India's biggest carrier, IndiGo, is preparing to file documents for a stock listing to raise $300 ( Rs 1,900 crore) to $400 million ( Rs 2500 croree), two sources with knowledge of the plans said, as it looks to cash in on a booming air travel market...

IPO buzz: IndiGo may be planning to raise around Rs 2500 cr by May-end

Mar 27, 2015 at 14:32 | Source: FirstPost

India's biggest carrier, IndiGo, is preparing to file documents for a stock listing to raise $300 ( Rs 1,900 crore) to $400 million ( Rs 2500 croree), two sources with knowledge of the plans said, as it looks to cash in on a booming air travel market...

Ruth Porat to join Google as Chief Financial Officer

Mar 25, 2015 at 10:42 | Source: FirstPost

After Google CFO Patrick Pichette announced his intent to retire via a Google+ post, the company has announced that Ruth Porat, currently Chief Financial Officer at Morgan Stanley, will join its management team as CFO.Ruth joined Morgan Stanley in 19...

Asian shares wobble as China PMI weighs

Mar 25, 2015 at 03:15 | Source: FirstPost

TOKYO (Reuters) - Most Asian share markets were set to end a volatile session with modest gains on Tuesday, after a measure of Chinese factory activity dented sentiment by unexpectedly dropping to an 11-month low.Financial spreadbetters expected soft...

Strong euro zone business growth pushes euro to $1.10

Mar 24, 2015 at 23:30 | Source: FirstPost

LONDON (Reuters) - The euro rose and European shares steadied on Tuesday, responding to signs the euro zone economy is gaining momentum, while a slowdown in factory activity in China kept oil and commodities-linked assets under pressure.U.S. stock in...

Cyber IPO pipeline grows as data breaches boost security spending

Mar 23, 2015 at 10:54 | Source: FirstPost

Rapid7, LogRhythm and Mimecast are joining a growing list of cybersecurity firms planning to go public in 2015 to capitalize on investor interest following a spate of hacker attacks, according to people familiar with the matter.Shares of publicly tra...

Athens pledge, cautious Fed soothes Europe's investors

Mar 21, 2015 at 01:30 | Source: FirstPost

LONDON (Reuters) - The euro nudged towards its best week in 18 months while yields on low-rated bonds fell as investors welcomed the Fed's cautious approach to raising interest rates and a reform pledge from Athens that could avert a cash crunch.Illu...

Investors fret over exit as prices for start-ups soar

Mar 21, 2015 at 01:15 | Source: FirstPost

MUMBAI (Reuters) - As billions of dollars flow into India's booming online economy, some investors are beginning to fret that soaring valuations could hamper market listings and limit their options when it comes to turning paper profits into cash.Ind...

Fed-induced rally peters out: Asia stocks fall, dollar steadies

Mar 20, 2015 at 11:48 | Source: FirstPost

Asian stocks stalled on Friday as Federal Reserve-inspired gains petered out, while the dollar steadied after rebounding from the shock of a surprisingly dovish US central bank.MSCI's broadest index of Asia-Pacific shares outside Japan edged down 0.1...

Decoding Flipkart's international listing: Why the company wants to be on Nasdaq, not Nifty

Mar 16, 2015 at 14:27 | Source: FirstPost

Having raised $2 billion last year, e-commerce giant Flipkart is now reportedly readying for an international listing, and Nasdaq seems to be the preferred choice, considering it isknown for listing technology companies and the fact that investors in...

Government nets £500m from latest Lloyds share sales

Mar 12, 2015 at 18:37 | Source: BBC

The latest round of sales of Lloyds Banking Group shares has netted the government £500m. The recent sales, which began in February, have lowered the publicly-owned stake in the bank to 22.98%. Lloyds received £20bn of government support during the...

Investors to pause forex litigation amid U.S. government probe

Mar 11, 2015 at 03:15 | Source: FirstPost

NEW YORK (Reuters) - Lawyers pursuing an antitrust lawsuit by investors accusing 12 major banks of rigging prices in the $5.3 trillion-a-day foreign exchange market agreed to put most of the litigation on hold amid a related criminal probe by the U.S...

All US banks pass first phase of 'stress test'

Mar 06, 2015 at 19:22 | Source: BBC

All 31 US banks have passed the first hurdle in the Federal Reserve's latest round of annual stress tests to see how they would cope in the next economic crisis. The central bank said the banks had enough capital to keep lending during a severe ...

European shares dip from seven-year highs, China rate cut lifts Asia

Mar 03, 2015 at 02:30 | Source: FirstPost

LONDON (Reuters) - European shares slipped from seven-year highs on Monday, weighed down by merger activity in the telecoms sector, while Asian stocks edged up after China cut interest rates at the weekend.The dollar hit an 11-year high against a bas...

Stimulus and reforms don't go together: Jaitley should have kept his fiscal deficit promise

Mar 02, 2015 at 14:39 | Source: FirstPost

Promises are meant to be broken, especially in politics. In the budget speech he made in July 2014, the finance minister Arun Jaitley had said: My Road map for fiscal consolidation is a fiscal deficit of 3.6 percent for 2015-16 and 3 percent for 2016...

Lloyds share sale cuts government stake to below 24%

Feb 27, 2015 at 15:17 | Source: BBC

The government has sold another parcel of Lloyds shares, raising £500m and cutting its stake to below 24%. Lloyds ended up being 41% state-owned after the government ploughed in £20bn to keep the bank afloat in 2008 after the financial crisis began...

Oil price slump threatens Malaysia's oil ambitions

Feb 27, 2015 at 04:15 | Source: FirstPost

PENGERANG, Malaysia (Reuters) - A collapse in oil prices is making it harder to attract investment in the next phases of a plan to build one of Asia's biggest energy hubs on Malaysia's southernmost tip, a development estimated to be worth over $50 bi...

Oil down on high supply worry, but quick "buying on dips"

Feb 24, 2015 at 00:30 | Source: FirstPost

NEW YORK (Reuters) - Oil prices were down on Monday on worries of oversupply and a strong dollar, but bets the market had hit bottom after a seven-month selloff limited the downside, traders said.The weekly decline in the number of U.S. rigs drilling...


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