Business news

Alibaba and Sony Were in Talks of Co-investing in Some Hollywood Movies; Sony Hacks Reveal

A set of leaked emails in the Sony Pictures hacking incident revealed that Alibaba Holdings, Asia's largest internet company, expressed its interest in investing in Hollywood with Sony Studios.

Dec 20, 2014

Instagram is Now Worth $35 Billion, Citigroup Analysts Say

Instagram, the photo-sharing social media website owned by Mark Zuckerberg, is now valued at $35 billion, according to some analysts of Citigroup.

Dec 20, 2014

Staples Data Breach Impacts 115 Stores and 1.16 Million Customers

Staples Inc announced that more than 1.16 million customers could be affected in the massive data breach that exposed credit and debit card data of shoppers who used their cards in 115 stores around America from August 10 to September 16 2014.

Dec 20, 2014

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Market Expert welcomes step as SEBI bars 260 entities for money laundering & tax evasion

New Delhi, Dec 20 (ANI): Market Expert Sunil Shah on Saturday welcomed the step as The Securities and Exchange Board of India (SEBI) banned 260 entities, including two companies, their promoters, brokers and a clutch of investors, from accessing the securities markets. The SEBI has accused them of misusing the stock exchanges to generate long-term capital gains of around Rs 485 crore, thus converting unaccounted cash into legitimate money. While SEBI would further probe these cases, it has also decided to refer the matter to the Income Tax Department, Enforcement Directorate, Financial Intelligence Unit, among other agencies, for necessary actions on their part. Shah said that this will make Indian market more transparent and trust worthy.

Dec 20, 2014

Cancelling 'The Interview' could Cost Sony Pictures up to $80 Million

With security and litigation costs, the studio would have to shell out something about $200 million and above.

Dec 20, 2014

Unilever Drops Lawsuit against Hampton Creek Mayonnaise

Unilever PLC, the famous consumer goods giant, announced on Thursday that it was dropping a mislabeling lawsuit against San Francisco-based food startup Hampton Creek Foods.

Dec 19, 2014

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BSE closes points 245.27 up on Dec 19

New Delhi, Dec 19 (ANI): Trading at the Bombay Stock Exchange today closed 245.27 points up to stand at 27,371.84. At the National Stock Exchange the Nifty closed 65.90 points up to stand at 8,225.20. NCC and GUJARAT GAS CO.LTD.were among the top gainers of Group A with an increase of 10.60% and 10.54% along with JSW ENERGY and ATUL with an increase of 9.55% and 8.62% respectively, while the top losers of Group A include Vakrangee Ltd. and IIFL with a decrease 19.14% and 8.45% along with POLARIS and TORNT POWER with a decrease of 6.77% and 6.70% at the close of the markets. The Auto sector is down 23.33 points at 18,366.56 while the banking sector is down 159.61 points at 21,146.99 and the reality sector is down 11.86 points at 1,498.95. The Indian currency is down 0.11% at Rs 63.18 per dollar.

Dec 19, 2014

American Apparel Receives Acquisition Bid from Irving Place Capital; Is Dov Charney Planning a Comeback?

American Apparel, the famous hipster clothing brand, was reportedly approached by private equity firm Irving Place Capital for a possible buyout right after it fired controversial CEO Dov Charney.

Dec 19, 2014

Aer Lingus Rejects Takeover Bid from British Airways' Owner IAG, Citing Undervaluation

Aer Lingus, the Irish airline, rejected a takeover bid from IAG, the parent company of British Airways on Thursday asserting that the deal undervalues its worth.

Dec 19, 2014

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BSE closes points 416.44 up on Dec 18

New Delhi, Dec 18 (ANI): Trading at the Bombay Stock Exchange today closed 416.44 points up to stand at 27,126.57. At the National Stock Exchange the Nifty closed 129.50 points up to stand at 8,159.30. POLARIS and DCB BANK were among the top gainers of Group A with an increase of 15.87 % and 15.27% along with TORNT POWER and PAGE INDUSTRIES LTD. with an increase of 12.11% and 11.12% respectively, while the top losers of Group A include PMCFIN and RASOYA PROTEINS LTD. with a decrease 9.09% and 4.52% along with HATHWAY and GUJARAT MINERAL DEVELOPMENT CORPORATION LTD. with a decrease of 3.81% and 3.55% at the close of the markets. The Auto sector is up 398.67 points at 18,416.80 while the banking sector is up 509.33 points at 20,987.38 and the reality sector is up 36.40 points at 1,510.81.The Indian currency is up 0.17% at Rs 63.17 per dollar.

Dec 18, 2014

McDonald's Scaling Back on Its Quarter Pounders, Premium Chicken Sandwiches and Snack Wraps

McDonalds, the fast-food giant, announced on Monday that it would cut down the variety of offerings in its Quarter Pounder with Cheese, Premium Chicken Sandwiches and the Snack Wrap range in some select experimental markets.

Dec 18, 2014

Uber Promises to Invest in Customer Safety Amid Passenger Security Controversies

Uber announced in a blog post on Tuesday that it will invest in passenger security across all its markets.

Dec 18, 2014

Why US Federal Reserve Won't Raise Interest Rates Anytime Soon

The US economy has been mapping a steady growth over the past 11 months.

Dec 18, 2014

GST Bill Set to be Tabled After Cabinet Approval

The Bill is likely to include petroleum within GST, but the Centre would be allowed to impose excise duty on it

Dec 18, 2014

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BSE closes points 94.60 down on Dec 17

New Delhi, Dec 17 (ANI): Trading at the Bombay Stock Exchange today closed 94.60 points down to stand at 26,686.84. At the National Stock Exchange the Nifty closed 44.90 points down to stand at 8,022.70. ABAN and GREAT EASTERN SHIPPING CO.LTD. were among the top gainers of Group A with an increase of 6.07% and 6.01% along with RURAL ELECTRIFICATION CORPORATION LTD. and TORRENT POWER LTD. with an increase of 5.41% and 4.69% respectively, while the top losers of Group A include WOCKHARDT LTD. and PMCFIN with a decrease 10.45% and 10.00% along with BF UTILITIES LTD. and POLARIS with a decrease of 9.66% and 8.02% at the close of the markets. The Auto sector is down 304.97 points at 17,999.93 while the banking sector is up 42.17 points at 20,478.05 and the reality sector is down 23.17 points at 1,475.07. The Indian currency is up 0.16% at Rs 63.63 per dollar.

Dec 17, 2014

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