Business news

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MasterCard sued for $19 billion in Britain's biggest damages claim

The payments company allegedly charged unlawfully high fees to stores when shoppers swiped their debit or credit cards.

Sep 9, 2016

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ICICI Prudential Life fixes issue price band at Rs. 330-334 per share

The insurer's public issue will be the first by an insurance firm in India, where the life insurance segment has 24 players.

Sep 9, 2016

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Yes Bank stock drops over 3% after it defers $1 billion share sale

Yes Bank has postponed its plan to sell shares worth Rs. 6,600 crore to institutional investors.

Sep 9, 2016

Sensex falls 200 points to upset 18-month high of 29,000

Indian shares declined on global cues as investors weighed prospects for further monetary easing in Europe.

Sep 9, 2016

Didi Chuxing worth $34 billion after investment from Foxconn

Foxconn's subsidiary firm Foxteq Holdings Inc. has acquired 0.36 percent stake in Didi Chuxing.

Sep 9, 2016

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GST Bill gets president's nod, but HPCL, BPCL, IOC shares may not rally

Shares of oil marketing companies are unlikely to gain as petrol, diesel and natural gas have been temporarily kept out of the GST.

Sep 9, 2016

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ICICI Bank launches software robotics to drive banking operations

The bank deployed these software robots in over 200 branches and is planning to more than double to over 500 in the coming days.

Sep 8, 2016

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SBI, Tata Steel, Maruti Suzuki hit new 52-week highs as Sensex closes at 18-month peak

Propelled by SBI, Maruti Suzuki, Tata Steel and other bluechips, the BSE Sensex closed at an 18-month high on Thursday.

Sep 8, 2016

Liberty Media buys Formula 1 in Â£6bn deal

British businessman Bernie Ecclestone will remain as CEO of F1, after it was bought by US firm Liberty Media for around Â£3.3bn ($4.4bn).

Sep 8, 2016

Yes Bank stock slumps after private placement of shares worth $1 billion

Goldman Sachs, Edelweiss, Religare, Motilal Oswal and HSBC were some of the lender banks for the share sale.

Sep 8, 2016

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Mahindra, Ola announce partnership to drive business

The agreement between Mahindra and Ola envisages selling cars worth Rs. 2,600 crore to about 40,000 Ola-affiliated drivers.

Sep 8, 2016

Samsung Galaxy Note 7 mass recall after reports of device exploding while charging

Samsungs mass recall of the Galaxy Note 7 smartphones worldwide over faulty batteries may cut the Korean companys 2016 second-half operating profit by about 820bn won ($738m, Â£554m) as per an analyst report. Another report says the total cost borne the company could well amount to $1bn. The company announced a global recall of the recently launched Note 7 smartphone last week after receiving close to 35 official complaints of malfunctioning most of which were related to batteries that caught fire while being charged.

Sep 8, 2016