Business news

Standard Chartered posts Rs 6,729 crore loss in India in 2015

The bank's losses were mainly led by a sharp increase in provisions made to cover credit risks.

Feb 24, 2016

Silver Run raises $450 million in IPO to buy energy companies

Silver Run said it had priced 45 million shares at $10 each, selling 5 million more shares than it originally planned.

Feb 24, 2016

Plastic in Snickers bar prompts Mars recall in 55 countries

The recall, in effect since Monday, follows a Jan. 8 complaint from a consumer in Germany who found red plastic in a Snickers bar.

Feb 24, 2016

Vistara to reduce business class seats to boost load factor

Vistara had a market share of just 1.3 percent in the domestic passenger traffic in December last year.

Feb 23, 2016

Sensex, Nifty snap four-day winning streak, correct sharply

The S&P BSE Sensex and NSE Nifty saw a skewed advance-decline ratio, with Asian Paints being the only gainer on Nifty 50.

Feb 23, 2016

Gold imports likely to slump to 2-year low in February

Jewellers and retail consumers are waiting for a correction in gold prices amid hopes of a cut in import duty in the upcoming budget.

Feb 23, 2016

Paytm lets you buy milk and vegetables using your debit/credit cards

Infosys, Wipro, TCS, Oracle eye Paytm's IT-outsourcing contract: Report

The contract is valued at about Rs 125 crore, says an ET report.

Feb 23, 2016

Zika virus: Bill Gates says response better than for Ebola

The Bill and Melinda Gates Foundation has turned its attention to the Zika virus outbreak, and its founders said the response to the crisis, which appears to be linked to devastating birth defects in South America, has been better than for the 2014 Ebola outbreak in Africa.

Feb 23, 2016

Mittals, Singtel to raise stake in Airtel by 6%

The transaction could be worth Rs 7,900 crore, taking into account the closing price of Bharti Airtel shares on Monday.

Feb 23, 2016

Infosys to reduce reserve employee strength through automation

Infosys recorded a staff utilisation rate of 80.6 percent for the December quarter.

Feb 23, 2016

World Bank's investment arm to buy stake in Lenskart

Recently, IFC bought stake worth $25 million in online grocery retailer BigBasket.

Feb 23, 2016

Fairfax Financial to raise $536.42 million via equity issuance

The deal is set to take Fairfax's stake in the insurer up to 35 percent.

Feb 23, 2016

Islamic State group rigs currency rates in Mosul to prop up finances

Air strikes have reduced Islamic State group's ability to extract, refine and transport oil, a major source of revenue for the group.

Feb 23, 2016

United Tech says a deal with Honeywell would face major challenges

Merger discussions between the two US-based multinationals are not currently active.

Feb 23, 2016

Infosys eyes 16% revenue growth next fiscal

Industry body Nasscom, however, cut its growth estimate for the sector to 10-12 percent for the next fiscal amid growing macroeconomic uncertainty and currency fluctuations.

Feb 22, 2016