Business news

Sensex, Nifty slump 9% in FY16, but post biggest monthly gains in 4 years

The benchmark index Sensex closed at 25,341 Thursday, losing 9.35 percent over its March 31, 2015, closing of 27,957.

Mar 31, 2016

IPOs raise Rs. 14,500 crore in 2016, 10-fold higher than 2015

While 21 out of 22 entities were oversubscribed during the current fiscal, 15 reported listing gain.

Mar 31, 2016

UK steel crisis: Sajid Javid says nationalisation not the solution as calls for a bail out grow

A petition calling on Cameron to act to protect our steel industry has been launched by Corbyn.

Mar 31, 2016

Allianz to sell $5 billion life insurance portfolio in Italy: Reuters sources

Europe's biggest insurer has picked Goldman Sachs to run the sale of the closed life policies, which no longer accept new business.

Mar 31, 2016

Twenty-First Century interested in Paramount deal: Source

The company would be interested in exploring a deal that would create synergies for Paramount but not in being a pure financial investor.

Mar 31, 2016

Steel crisis: Tatas impact on Britains steel industry in numbers

Steel giant is set to sell its UK business, meaning 4,000 jobs could go at Port Talbot plant in Wales.

Mar 30, 2016

Vodafone moves ICJ on retrospective tax, non appointment of 3rd arbitrator

The move indicates a rejection of one-time settlement offer to pay tax on principal only, waiving interest and penalties.

Mar 30, 2016

Boeing will cut over 4,500 jobs by mid-2016

The company will layoff 4,000 people in the commercial airplanes division and 550 people in the flight and lab tests division.

Mar 30, 2016

Sensex up over 400 points on global cues; Nifty closes above 7,700

The Sensex rally was led by bank and metal stocks, supported by consumer durables and healthcare.

Mar 30, 2016

Tata Steel crisis: Community Union calls for support from UK government

Tata Steel crisis: Community Union urges David Cameron to intervene

Mar 30, 2016

Mallya proposes to repay Rs 4,000 crore of his dues

The lender-bank consortium that has accused him of defaulting Rs 6630 crore, will be paid Rs 4,000 crore by Sep. 31, he says.

Mar 30, 2016

IKEA acquires land worth Rs 214 crore from Rallis India

The transaction is subject to IKEA receiving all required approvals from the regulatory authority.

Mar 30, 2016

GE to sell $1.4 billion US hotel franchise loan portfolio

GE said it would also sell to an unnamed buyer its business that provides financing to Canada's hospitality and restaurant industries.

Mar 30, 2016

Music streaming company Spotify raises $1 billion in convertible debt

The deal is expected to close at the end of this week, Spotify spokeswoman Marni Greenberg confirmed to Reuters.

Mar 30, 2016

Tata Steel puts entire UK business up for sale

Tata said it would "explore all options for portfolio restructuring, including the potential divestment of Tata Steel UK, in whole or in parts".

Mar 30, 2016

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