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  • Blue Star consolidating manufacturing operations Jun 20, 2015 01:52 PM IST

    Blue Star consolidating manufacturing operations

    Air-conditioner manufacturer Blue Star Ltd has undertaken an exercise to consolidate manufacturing operations for which research firm KPMG has been appointed, top company official said.

  • Jagran Prakashan completes acquisition of Radio City Jun 11, 2015 08:01 PM IST

    Jagran Prakashan completes acquisition of Radio City

    Apart from Dainik Jagran, the group's publications include Midday, Naiduniya, I-Next, City Plus and Punjabi Jagran.

  • Housing.com acquires Realty Biz Intelligence for Rs 10 cr Jun 11, 2015 08:01 PM IST

    Housing.com acquires Realty Biz Intelligence for Rs 10 cr

    "Housing.com has acquired Realty Business Intelligence, an organisation focused on risk assessment for realty projects, for Rs 10 crore in cash towards purchase of 100 percent equity of the latter," the company said in a statement.

  • HSBC unveils radical overhaul to axe up to 50,000 jobs Jun 10, 2015 08:40 AM IST

    HSBC unveils radical overhaul to axe up to 50,000 jobs

    Europe's biggest bank aims to save up to USD 5.0 billion (4.4 billion euros) in annual costs within two and a half years as it seeks to boost profits and move past recent scandals that have scarred the British lender, including the rigging of foreign exchange markets

  • Job cut to have minimum impact on India: HSBC Jun 09, 2015 08:39 PM IST

    Job cut to have minimum impact on India: HSBC

    The surprise could be in the form of the bank's target to increase its software engineering development and back office work here and China as part of its move to consolidate this vertical, which is projected to save up to USD 525 million over the next two years.

  • HSBC will rebrand UK retail bank, says to cut up to 8k jobs Jun 09, 2015 03:40 PM IST

    HSBC will rebrand UK retail bank, says to cut up to 8k jobs

    HSBC CEO Stuart Gulliver also said between 7,000 and 8,000 jobs would be cut in Britain, or about one in six of its staff. He expects those cuts to be by "natural attrition", noting that turnover in the business is about 3,000 staff a year.

  • HCC sells entire 26% stake in Vikhroli Corporate Park Jun 01, 2015 04:48 PM IST

    HCC sells entire 26% stake in Vikhroli Corporate Park

    While HCC owned 26 percent of the stake, the remaining 74 percent is owned by ILFS Milestone Fund and others, HCC Ltd said in a filing to the BSE.

  • GMR Holdings to consider amalgamation with GMR Enterprises May 27, 2015 11:17 AM IST

    GMR Holdings to consider amalgamation with GMR Enterprises

    As of April. 18, GMR Holdings held 51.97 percent stake in GMR Infrastructure, while GMR Enterprises held 0.44 percent stake

  • MAMPL exits DIAL, GMR airports acquires its 10% stake May 26, 2015 08:19 AM IST

    MAMPL exits DIAL, GMR airports acquires its 10% stake

    With the offloading of its entire 10 percent holding to GMR Airports Limited (GAL) in Delhi International Airport Limited (DIAL), the Malaysian firm has exited the venture. Earlier, GAL had said it would be purchasing the additional shareholding in DIAL for USD 79 million.

  • BlackBerry consolidates businesses; cuts jobs worldwide May 23, 2015 06:56 AM IST

    BlackBerry consolidates businesses; cuts jobs worldwide

    Canadian smartphone maker BlackBerry Ltd is cutting jobs across the world, the company said on Friday, as it consolidates its software, hardware and applications business.

  • Sterlite Technologies Q4 net profit at Rs 39 crore May 18, 2015 03:24 PM IST

    Sterlite Technologies Q4 net profit at Rs 39 crore

    The Board approved to demerge the Power Products Business and the Power Transmission Grid Business into a separate entity named ‘Sterlite Power Transmission Ltd.‘ (SPTL). The Board also approved the financial results for the quarter and financial year ended March 31, 2015.

  • Rupee firms up to 13 paise at 63.87 vs dollar May 14, 2015 12:33 PM IST

    Rupee firms up to 13 paise at 63.87 vs dollar

    The rupee resumed higher at 63.97 per dollar against the yesterday's closing level of 64.00 at the Interbank Foreign Exchange (Forex) Market and hovered in a range of 63.82 and 64.04 before quoting at 63.87 at 1100 hrs, showing a gain of 13 paise.

  • StanChart seeks buyers for $350 mn HK pension biz: Sources May 14, 2015 08:18 AM IST

    StanChart seeks buyers for $350 mn HK pension biz: Sources

    Standard Chartered plc is seeking buyers for its Hong Kong pension business valued at about USD 350 million in a deal that would also involve a 15-year distribution agreement with the new owner.

  • Union Bank of India net down 23.5% on higher provisions May 13, 2015 10:38 AM IST

    Union Bank of India net down 23.5% on higher provisions

    Domestic net interest margin came down to 2.46 percent from 2.62 percent , while global NIM also inched down to 2.37 percent from 2.55 percent. Tiwari said the bank is looking at a NIM of 2.6-2.7 percent this fiscal. Although the asset quality deteriorated in the quarter, and year-on-year, sequentially there was some improvement.

  • Siemens misses profit expectations, cuts more jobs May 07, 2015 02:40 PM IST

    Siemens misses profit expectations, cuts more jobs

    Profit from Siemens' industrial businesses in the quarter to end-March was 1.7 billion euros (USD 1.9 billion) after 98 million euros in restructuring costs for job cuts. That was below a Reuters poll average of 1.78 billion euros.

  • HPCL revises down May gasoline import demand May 06, 2015 12:47 PM IST

    HPCL revises down May gasoline import demand

    Hindustan Petroleum Corp Ltd now looking to buy a total of 30,000 tonnes of petrol for May 15-23 delivery to Mundra, down from its original target of a total of 35,000 tonnes for May 15-20 delivery.

  • China April HSBC services PMI hits 2015 high May 06, 2015 08:17 AM IST

    China April HSBC services PMI hits 2015 high

    Yet in a sign that China's economy still faces strong headwinds, the HSBC/Markit China Services Purchasing Managers' Index (PMI) showed final prices of services hit a 15-month low in April as some firms were forced to cut prices to lift sales.

  • Aditya Birla merges apparel biz to form Rs 5,290cr entity May 04, 2015 07:51 AM IST

    Aditya Birla merges apparel biz to form Rs 5,290cr entity

    Under the scheme of arrangement approved on Sunday by the boards of respective companies, the apparel businesses of group holding company Aditya Birla Nuvo (ABNL) and of another group firm Madura Garments Lifestyle Retail Company Ltd (MGLRCL) would be demerged into listed firm Pantaloons Fashion & Retail Ltd (PFRL).

  • Sony sees FY profit surging on camera sensor sales Apr 30, 2015 01:03 PM IST

    Sony sees FY profit surging on camera sensor sales

    Results for the past year were roughly in line with a forecast announced earlier this month.

  • Deutsche Bank sees 3.7 bn euros in restructuring costs Apr 27, 2015 11:42 AM IST

    Deutsche Bank sees 3.7 bn euros in restructuring costs

    Deutsche Bank said it had raised its stake in Postbank to nearly 97 percent from 94 percent previously, putting it in position to start a squeeze-out of remaining Postbank shareholders by August in preparation for a re-flotation of the lender by the end of 2016.

  • BlackBerry considers closing Sweden operations: WSJ Apr 25, 2015 04:40 PM IST

    BlackBerry considers closing Sweden operations: WSJ

    The Canadian smartphone will make a final decision on the planned closure after completing talks with the employees' unions, the Journal reported.

  • Nikkei tops 20,000 for 1st time in 15 yrs; up 2.4% on week Apr 10, 2015 12:50 PM IST

    Nikkei tops 20,000 for 1st time in 15 yrs; up 2.4% on week

    The rally has been driven by many factors, including hopes of higher shareholder returns, a rise in corporate earnings, a recovery in domestic consumption and more share buying, both real and imagined, by Japanese public investors.

  • SEBI struggles to shield savers from more Saharas Apr 09, 2015 11:23 AM IST

    SEBI struggles to shield savers from more Saharas

    Sahara began as a scheme for small depositors, but it grew over decades with investment plans that critics say were designed to avoid regulatory scrutiny. At its height, it was one of India's biggest business empires, stretching from Formula One motor racing to New York's Plaza Hotel.

  • RBI eases norms for start of operations of stalled projects Apr 07, 2015 08:41 AM IST

    RBI eases norms for start of operations of stalled projects

    The Reserve Bank of India (RBI) said it has been receiving representations from banks that new promoters or developers of a stalled project may require time to revive or complete the stalled projects.

  • GMR Infra to consolidate holdings in GMR Airports Apr 02, 2015 01:59 PM IST

    GMR Infra to consolidate holdings in GMR Airports

    Despite repeated attempts, specific details could not be ascertained. Generally, Call Option provides an investor the right to buy securities at a pre-determined price within a specific time.

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