Business news

Dov Charney Fired! American Apparel Hires New CEO

Dov Charney, the CEO of American Apparel – the hipster clothing brand – has finally been given the boot months after first announcing the sacking. The company has hired fashion executive Paula Schneider, a new woman CEO to head the company.

Dec 17, 2014

China, India and Russia Among Most Corrupt Developing Countries

Some of the biggest developing economies in the world that include China, India and Russia are also the most corrupt, a new report by Global Financial Integrity (GFI), an international corruption watchdog showed.

Dec 17, 2014

Russian Ruble Falls to 16-year Low despite Interest Rate Hike; Putin's Power at Stake?

The Russian ruble fell to a new 16-year low on Wednesday despite the government's frantic efforts to prevent a slide reflecting a possible weakness in Putin's power grip over the region.

Dec 17, 2014

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BSE closes points 538.12 down on Dec 16

New Delhi, Dec 16 (ANI): Trading at the Bombay Stock Exchange today closed 538.12 points down to stand at 26,781.44. At the National Stock Exchange the Nifty closed 152.00 points down to stand at 8,067.60. JET AIRWAYS and HCL TECH were among the top gainers of Group A with an increase of 7.20% and 4.58% along with TCS and CMC with an increase of 3.40% and 2.48% respectively, while the top losers of Group A include PMCFIN and UNITECH with a decrease 19.05% and 10.75% along with JAIN IRRIGATION SYSTEMS LTD and PIPAVAVDOC with a decrease of 9.96% and 9.08% at the close of the markets. The Auto sector is down 299.08 points at 18,304.90 while the banking sector is down 612.41 points at 20,435.88 and the reality sector is down 59.19 points at 1,498.24. The Indian currency is down 0.87% at Rs 63.49 per dollar.

Dec 16, 2014

Standard Chartered Sheds Consumer Business Units in Hong Kong and Shenzhen

Standard Chartered, the British multinational banking giant, sold its consumer finance units in Hong Kong and Shenzhen to a consortium of investors for a deal worth $600 to $700 million as a part of their new restructuring deal.

Dec 16, 2014

Olam International Buys Archer Daniels' Cocoa Business for $1.3 Billion

Olam International Ltd., the agro-products supply chain and the world's largest shippers of coffee and cocoa, has agreed to take over Archer Daniel Midland's (ADM) cocoa business for a deal worth $1.3 billion.

Dec 16, 2014

Rupee Falls to 13-months Low, CAD Widens on Gold Import

The Indian Rupee lost about 1% against the dollar, reflecting the global trend.

Dec 16, 2014

November Gold Imports Up Six-fold in November, Trade Deficit at 18-month High

Trade Secretary Rajeev Kher terms increase in gold imports 'phenomenal'

Dec 16, 2014

Petrol and Diesel Prices Cut By Rs 2; Currency Weakness Erodes Possible Savings

Petrol and diesel prices have been cut by Rs.2, including state taxes for the second time in a fortnight, reflecting crashing crude prices globally

Dec 16, 2014

BT Group in Talks to Buy EE Limited for $19.6 Billion

BT Group Plc, the British multinational telecommunications giant, is reportedly in talks of buying UK-based mobile network operator EE Limited for a deal worth $19.6 billion.

Dec 16, 2014

SpiceJet Gets Temporary Reprieve on Payment Owed to AAI; Shares Slide 14%

SpiceJet faces existential dilemma. Has to raise funds in the next 10 days.

Dec 16, 2014

Vistara to Take to The Skies In Early 2015, Receives Flying Permit

The Tata Sons and Singapore Airlines jv has received flying permit, allowing it to start operations and take to the skies soon.

Dec 16, 2014

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BSE closes points 31.12 down on Dec 15

New Delhi, Dec 15 (ANI): Trading at the Bombay Stock Exchange today closed 31.12 points down to stand at 27,319.56. At the National Stock Exchange the Nifty closed 4.50 points down to stand at 8,219.60. MMTC and Sunrise Asian Limited were among the top gainers of Group A with an increase of 12.41% and 9.86% along with ATUL and JPINFRATEC with an increase of 8.26% and 7.73% respectively, while the top losers of Group A include PMCFIN and JETAIRWAYS with a decrease 9.18% and 7.19% along with PIPAVAV DEFENCE AND OFFSHORE ENG LTD. and ABAN OFFSHORE LTD. with a decrease of 6.02% and 5.55% at the close of the markets. The Auto sector is down 70.52 points at 18,603.98 while the banking sector is up 73.08 points at 21,048.29 and the reality sector is down 32.94 points at 1,557.43. The Indian currency is up 1.02% at Rs 62.92 per dollar.

Dec 15, 2014

Sony Xperia Z5 To Follow Xperia Z4's Lead With New Design, 2K Screen In Q4 2015

Sony Pictures Asks News Outlets to Stop Publishing Hacked Emails

Sony Pictures urged all news outlets to stop publishing the leaked emails that hackers exposed in the past few weeks, in a strongly worded letter released on Sunday.

Dec 15, 2014

PetSmart Bought for $8.7 Billion in Largest Acquisition Deal

PetSmart, the pet-supplies retailer, will reportedly be bought out by a consortium of investors shelling out $8.7 billion for the company. This marks the largest acquisition deal of 2014.

Dec 15, 2014

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