Companies

Probe into Chanda Kochhar debacle widens as ICICI reviews past loans

ICICI Bank is reviewing all the loans from last five years and plans to revamp its processes and correct all the loopholes.

Jul 30, 2018

In a first, Amazon's international losses shrink since 2016

Amazon's international losses for the June quarter were $494 million, a fall of 31 percent as against $724 million in the same quarter of last year.

Jul 28, 2018

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HCL on the rise, takes over Wipro as third largest IT firm

HCL reported Rs 2,431 crore in net profit for Q1, and overtook Wipro in terms of dollar revenue, clocking $2.05 billion, as compared to Wipro's $2.02 billion.

Jul 28, 2018

Crippled by bad loans, ICICI posts first ever loss in 16 years

Hurt by higher provisions for bad loans and bond losses, as well as the ongoing investigation into former Chief Executive Chanda Kochhar, ICICI Bank posted its first loss in 16 years, reporting Rs 1.2 billion in losses for the first fiscal quarter.

Jul 28, 2018

Food apps ahead of e-commerce giants in paying delivery staff

Swiggy and Zomato have doubled the salaries of delivery executives and they now pay more than e-commerce giants like BigBasket and Flipkart.

Jul 27, 2018

E-commerce giants, cotton industry hit by truck strike

With no end in sight for the strike, the cotton factories are on the verge of closure and vegetable prices are expected to rocket as inventory is dwindling.

Jul 27, 2018

Facebook's new privacy safeguards will erode company's profits for years

Latest earnings reveal a huge drop in Facebook's market cap as the social media giant is investing heavily in new privacy safeguards, a move that will eat into the company's profits for "years" as per Chief Financial Officer David Wehner.

Jul 26, 2018

Production facility is seen at Saudi Aramco's Shaybah oilfield

Oil prices rise as Saudi Arabia halts shipments through Red Sea lane after Houthi attack

The Bab al-Mandeb Strait, where the Red Sea meets the Gulf of Aden in the Arabian Sea, is only 20 km (12 miles) wide, making hundreds of ships potentially an easy target.

Jul 26, 2018

Korean and Chinese handset makers' takeover as Indian players fail to impress

Micromax had a 16 percent share of the Indian smartphone market in the final quarter of the financial year 2016. Its share substantially dropped to only five percent in final quarter of the financial year 2017.

Jul 25, 2018

HDFC AMC IPO subscribed 43% in first 3 hours

IPO received a positive response from the investors as 81,00,560 shares were subscribed against the issue size of 1,88,04,290 shares.

Jul 25, 2018

Ferrari Chairman and CEO Sergio Marchionne

Sergio Marchionne, the man behind Fiat Chrysler resurrection, dies at 66

Sergio Marchionne died after complications from a surgery conducted at Zurich's University Hospital. He was replaced as CEO of FCA on July 22 by Mike Manley.

Jul 25, 2018

Jio eyes foothold in entertainment industry

The telecom giant aims to set up its own production house to tap the lucrative web series market.

Jul 25, 2018

Maruti Suzuki recalls 566 new Swift, 713 new Dzire units over faulty airbag controller unit

The new Swift and Dzire units recalled are manufactured between May 7, 2018 and July 7, 2018. Maruti Suzuki will inspect and replace the faulty part for free of cost starting from July 25.

Jul 25, 2018

Idea–Vodafone bows in front of DoT; pay up Rs 72 billion

The deal is expected to get a final approval from the DoT within next week. After many rounds of deliberations, the DoT was adamant on its demand of Rs 72 billion which was eventually paid by the two telcos

Jul 24, 2018

Reliance Jio effect: Indian telcos continue to register losses

In the last quarter of the fiscal year 2017-18, the revenue of two of India's largest telecom companies Bharti Airtel Ltd and Idea Cellular Ltd has declined. Bharti Airtel Ltd reported a loss in revenue of 3.7% while Idea Cellular Ltd witnessed a decline in revenue at 5.7%.

Jul 24, 2018