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  • Glencore slumps 30 percent as debt fears grow Sep 28, 2015 09:07 PM IST

    Glencore slumps 30 percent as debt fears grow

    Swiss-based and London-listed Glencore earlier this month raised USD 2.5 billion through a share placement, part of a wider plan to cut its net debt by a third by the end of 2016.

  • Pfizer withdraws notice to close Thane plant Sep 24, 2015 04:30 PM IST

    Pfizer withdraws notice to close Thane plant

    In a regulatory filing Wednesday, Pfizer had said that it has entered into a business transfer agreement to sell its Thane plant for a consideration of Rs 178 crore.

  • Steel manufacturers demand reduction in power tariff Sep 23, 2015 07:51 PM IST

    Steel manufacturers demand reduction in power tariff

    The delegation from Wada region in Palghar district, led by Maharashtra Industries Minister Subhash Desai, met the Governor at Raj Bhavan here and sought reduction in power tariff, a Raj Bhavan spokesperson said.

  • Vedanta Group retrenches about 4k jobs in India since Jan Sep 23, 2015 06:40 PM IST

    Vedanta Group retrenches about 4k jobs in India since Jan

    Balco accounts for 1,000 job cuts and Vedanta Aluminium for around 2,000, while Sesa Goa as well as Cairn India have already slashed up to 450 jobs each, so far.

  • Aarti Indus gets Bombay, Guj HC nod for amalgamation scheme Sep 21, 2015 09:31 PM IST

    Aarti Indus gets Bombay, Guj HC nod for amalgamation scheme

    The scheme of amalgamation was sanctioned by "High Court of Judicature of Bombay vide its order dated 10th July, 2015 and the High Court of Gujarat at Ahmedabad vide its order dated 31st July, 2015," the company said.

  • Suzuki Motor unveils Baleno; India debut in few weeks Sep 15, 2015 06:30 PM IST

    Suzuki Motor unveils Baleno; India debut in few weeks

    While the model will be launched in Europe during spring next year, the company's Indian arm Maruti Suzuki India (MSI) is expected to launch it in the domestic market around the festive season this year.

  • Balco begins to shut rolling business; 1K jobs to be lost Sep 13, 2015 03:45 PM IST

    Balco begins to shut rolling business; 1K jobs to be lost

    Last month, the aluminium manufacturer had announced its decision to shut down the rolling mill in Korba (Chhattisgarh) on account of "steep fall" in the prices of the metal besides dumping from China and falling margins.

  • Top German court rejects Apple touchscreen patent appeal Aug 26, 2015 11:44 AM IST

    Top German court rejects Apple touchscreen patent appeal

    The ruling by the Federal Court of Appeals in Karlsruhe covers one of the Apple iPhone's most popular defining features, of which makers of rival Android-based phones have developed their own versions.

  • Qantas to expand fleet after rapid profit turnaround Aug 20, 2015 01:38 PM IST

    Qantas to expand fleet after rapid profit turnaround

    The Australian flagship carrier also said it would make its first cash payout to shareholders in six years after an aggressive cost-cutting programme and tailwinds from cheaper fuel costs led the company back into the black.

  • JSW Steel to invest Rs 5,000 cr on capex in FY16 Aug 19, 2015 06:44 PM IST

    JSW Steel to invest Rs 5,000 cr on capex in FY16

    London-based JSW Steel Service Centre is into processing and sale of steel, while Argent Independent Holdings - that is also based in London - is a holding company. Nairobi-based JSW Steel East Africa is into mining of non-ferrous metal ores and manufacture of basic iron and steel, among others.

  • SAT upholds Sebi order against PACL in Rs 49,100cr CIS case Aug 17, 2015 05:54 PM IST

    SAT upholds Sebi order against PACL in Rs 49,100cr CIS case

    Sebi, in August last year, ordered PACL to wind up its unauthorised collective investment scheme (CIS) and refund the money collected from investors within three months. The company was running a land purchase scheme, where it was raising money from public to buy land.

  • Siemens gets to modernise power distribution in 3 states Aug 17, 2015 05:13 PM IST

    Siemens gets to modernise power distribution in 3 states

    The company will execute the project for three utility providers -- Punjab State Power Corporation, Uttarakhand Power Corporation, and Dakshin Haryana Bijli Vitran Nigam.

  • Govt approves plan to restructure Jute Corporation of India Aug 13, 2015 05:00 PM IST

    Govt approves plan to restructure Jute Corporation of India

    "The restructuring plan includes outsourcing of Department Purchase Centre (DPC) activities, rationalisation of manpower and merger/closure of unviable DPCs," Union Textiles Minister Santosh Gangwar said in a written reply to Lok Sabha.

  • Balrampur Q1 net loss widens to Rs 72.74 cr Aug 12, 2015 04:40 PM IST

    Balrampur Q1 net loss widens to Rs 72.74 cr

    The company had posted a net loss of Rs 3.96 crore in the same period last year, it said in a BSE filing. Net income declined to Rs 636.12 crore in the April-June period of 2015-16 fiscal from Rs 804.36 crore in the year-ago period.

  • MRPL initiates downward integration with OMPL Aug 10, 2015 08:12 AM IST

    MRPL initiates downward integration with OMPL

    The amalgamation will ensure optimal utilisation of resources which will lead to improvement in overall working culture and environment, MRPL Chairman D K Saraff said.

  • Max India gets shareholders nod for corporate restructuring Aug 06, 2015 09:35 PM IST

    Max India gets shareholders nod for corporate restructuring

    The High Court of Punjab and Haryana has issued an order, taking on record the shareholders' approval of Max India's Composite Scheme of Arrangement for the demerger of the company and granted liberty to file a second motion petition, Max India said in a statement.

  • India's macroeconomic fundamentals strong: Doha Bank CEO Aug 06, 2015 05:03 PM IST

    India's macroeconomic fundamentals strong: Doha Bank CEO

    Giving reasons for the strong characteristics of India's economic fundamentals, Doha Bank CEO R Seetharaman said, "there is political stability and realignment of monetary and fiscal policies."

  • Tata Steel completes UK business move Aug 04, 2015 05:46 PM IST

    Tata Steel completes UK business move

    Hundreds of Tata Steel workers on Teesside in the north-east of England will effectively come under new management with the latest development. The new Scunthorpe-based business, which employs 750 workers, will be led by Bimlendra Jha, executive chairman of the Tata Steel board.

  • Govt examining proposal to raise Rs 40,000 cr Aug 04, 2015 04:11 PM IST

    Govt examining proposal to raise Rs 40,000 cr

    Subsidy arrears of state-run Food Corporation of India (FCI), the nodal agency for procurement and distribution of grains, stood at Rs 50,730 crore in 2014-15 fiscal, and is estimated to be Rs 22,348 crore this year.

  • HSBC says to sell Brazil unit to Bradesco for $5.2 billion Aug 03, 2015 11:58 AM IST

    HSBC says to sell Brazil unit to Bradesco for $5.2 billion

    HSBC Holdings Plc said it sold its Brazilian unit to Banco Bradesco SA for USD 5.2 billion, retreating from the second-largest emerging market economy after years of feeble performance.

  • Qualcomm appoints Sunil Lalvani as President of India ops Jul 27, 2015 01:07 PM IST

    Qualcomm appoints Sunil Lalvani as President of India ops

    Sunil Lalvani succeeds Avneesh Agrawal, senior vice-president and president of Qualcomm India and South Asia. Agrawal, who has been granted 159 US patents, is moving on to pursue his entrepreneurial ambitions.

  • Teva nears deal for Allergan's generic drugs unit: Source Jul 27, 2015 11:26 AM IST

    Teva nears deal for Allergan's generic drugs unit: Source

    Jerusalem-based Teva, which has offered to buy Mylan for USD 40 billion, is now close to an agreement to acquire Dublin-based Allergan's generic drugs unit for between USD 40 billion and USD 45 billion, the person said on Saturday.

  • Toyota recalls 625,000 cars globally for software glitch Jul 15, 2015 12:03 PM IST

    Toyota recalls 625,000 cars globally for software glitch

    Models affected are certain Prius v minivans, called Prius alpha and Prius+ in some markets, among other models, produced between May 2010 and November 2014, the automaker said.

  • Universal Sportsbiz gets Rs 46 cr from Accel Partners Jul 07, 2015 02:51 PM IST

    Universal Sportsbiz gets Rs 46 cr from Accel Partners

    "The second round of funding follows the initial investment by Accel Partners of Rs 17.25 crore in July, 2012. The present round of investment will be used to accelerate USPL's growth plans," the company said in a statement.

  • Britain's Tesco reports improvements despite sales drop Jun 26, 2015 02:59 PM IST

    Britain's Tesco reports improvements despite sales drop

    The company also reported a decline in like-for-like sales, which exclude petrol costs and sales taxes, in key Asian markets due to "external conditions".

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