Business news

IDBI Bank loss widens to Rs 3,602 crore in Q2

Total income of the bank was also down at Rs 6,162.14 crore in the reported quarter as against Rs 8,302.42 crore a year ago, IDBI Bank said in a regulatory filing.

Nov 14, 2018

SpiceJet posts 2nd quarterly loss on higher fuel costs, weak rupee

A combination of rising oil prices, high fuel taxes, a weak rupee, low fares and intense competition have slashed profits in the world's fastest-growing aviation market which is clocking 20 per cent annual passenger growth.

Nov 14, 2018

Binny Bansal 'stunned' by allegations, sends email to Flipkart employees

On Tuesday, Walmart had issued a statement saying that Binny had resigned as the CEO after several 'personal misconduct allegations'.

Nov 14, 2018

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Government suspects under-reporting of revenues by telcos; orders strict auditing

In a report submitted by the Comptroller and Auditor General (CAG) June last year, the national auditor had argued that telecom companies under-report revenues through accounting adjustments for commission or discount paid by the companies to their distributors.

Nov 14, 2018

Infosys to open technology hub in Texas, plans to hire 500 Americans by 2020

Last May, Infosys had announced to hire 10,000 American workers by 2019 and till date, the IT behemoth has employed 6,200 American workers.

Nov 14, 2018

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Jet Airways to sell 6 Boeing 777 aircraft in a bid to fly out of debt turbulence

Speaking of the plan, Jet Airways chief financial officer Amit Agarwal told analysts on Tuesday that six aircraft have been identified for the purpose. The proceeds from the sale will be used to clear debts amounting to about Rs 1,800 crore.

Nov 14, 2018

Big shake up in Zee: Promoters to sell upto 50% stake

Over the years, the rise of Zee has been exceptional by growing from a single Hindi language channel to 37 channels across 5 categories that include news and entertainment.

Nov 14, 2018

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Mobile handsets may get dearer amid depreciating rupee

It is to be noted that one of the biggest shareholders of the Indian mobile markets by sales, Xiaomi, has raised the prices of its models Redmi 6 and 6A by up to Rs 600

Nov 13, 2018

Tata Sons begins due process for taking over controlling stake in Jet Airways

A Tata Sons' team met Jet Airways officials to take stoke of the situation even as the debt-ridden airline tries to turn around the finances.

Nov 13, 2018

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Sensex up 46 points in choppy trade on better macro data

Major gainers include, Asian Paints, Coal India, Axis Bank, Adani Port, Vedanta, PowerGrid, TCS, Tata Steel and ONGC, rising up to 1.14 per cent.

Nov 13, 2018

Oil helps European stocks rise while tobacco goes up in smoke

European shares bounced back on Monday thanks to strong oil stocks, while tobacco firms were dented by new signs of regulators tightening the screws on menthol cigarettes.

Nov 12, 2018

Usha Martin shareholders approve steel business sale to Tata Steel

Shareholders of wire rope maker Usha Martin have approved the sale of its steel unit to Tata Steel aimed at reducing debt burden and expansion of core business.

Nov 12, 2018

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Sensex tumbles 346 points as crude prices, rupee concerns weigh

Further impacting domestic market sentiments, the Indian rupee again breached the 73-mark, dropping 57 paise (intra-day) to 73.07 against the dollar.

Nov 12, 2018

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Equity indices erase gains ahead of key data release; crude prices rebound

The government would release the Consumer Price Index (CPI) for October and the industrial production data for September later in the day. The CPI data for September stood at 3.77 per cent, up from 3.69 in August.

Nov 12, 2018

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Visa, Mastercard and American Express maybe taxed on India income

Presently, these payments companies are not taxed as per the Indian laws since the legislation says that only the foreign companies having 'permanent establishment' in the country would be liable to pay tax.

Nov 12, 2018