Business news

EU aims to rule on Amazon's Luxembourg tax deal by July

The aid regulator may order the country's tax authorities to recover about 400 million euros ($448 million) in back taxes.

May 20, 2016

Sensex tumbles 305 points over fears of interest rate hike by US Fed

An increase in interest rate by the US Fed is generally expected to trigger flight of capital from emerging markets such as India.

May 19, 2016

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Tata Communications selling 74% stake in data centre business to ST Telemedia

The Tata Communications-ST Telemedia deal, which also involves takeover of debt, is valued at Rs. 4,239 crore.

May 19, 2016

JSW Steel posts net profit of Rs. 171 crore for Q4 FY16; shares rise

JSW's revenues fell almost 15 percent to Rs.10,697.52 crore in the fourth quarter of financial year 2015-16.

May 19, 2016

India offers oil-for-drugs deal to recover $100 million from cash-strapped Venezuela

The South American country owes the amount to pharma firms such as Dr Reddy's, Sun Pharma and Glenmark for medicine supplies.

May 19, 2016

Sun TV shares plunge 12% as DMK alliance trails AIADMK in initial trends

Sun TV Network is owned by Kalanidhi Maran, grandnephew of DMK president M Karunanidhi.

May 19, 2016

Oil drops on surging dollar, rising US crude stocks, jump in Iran exports

Brent crude futures LCOc1 were down 87 cents, or 1.8 percent from their last settlement, trading at $48.06 per barrel.

May 19, 2016

Fed signals interest rate hike firmly on the table for June

The suggestion that a rate increase in June is firmly on the table suggests the Fed is closer to tightening monetary policy again.

May 19, 2016

Hong Kong launches fresh plan to fortify cyber security after SWIFT heist

The FBI, authorities in Dhaka and private forensic experts are investigating the February cyber heist in Bangladesh.

May 19, 2016

Hitachi Appliances, Inc. and Johnson Controls, Inc HITACHI HOME & LIFE SOLUTIONS (INDIA) LTD

Hitachi Home & Life Solutions share spurts 650% in two years

A fund manager from Sundaram MF said mid-cap stocks like Hitachi Home & Life Solutions have delivered good returns to investors.

May 18, 2016

5th Avenue-like Apple Stores coming to India

Apple to set up iOS app design and development accelerator in Bengaluru

Apple's Bengaluru facility is expected to provide guidance to developers on the company's proprietary programming language Swift.

May 18, 2016

Ratan Tata invests in US-based medical emergency startup

MUrgency is a mobile app company, which provides emergency services to patients.

May 18, 2016

Novartis splits drugs business into two, pharma chief to leave

David Epstein, the American head of Novartis Pharmaceuticals and a 27-year veteran with the group, will leave the company to "explore new challenges from the U.S.," Novartis said.

May 18, 2016

Japan brewer Asahi says it won't bid for SABMiller's East Europe assets

Instead Asahi will focus on raising sales of the Peroni, Grolsch and Meantime beer brands that it agreed to buy from SABMiller last month for $2.89 billion.

May 18, 2016