Business news

Gucci's CEO and Creative Director to Step Down Next Year

Gucci, the famous luxury fashion brand, is all set to see some major changes at its top-level management as its CEO Patrizio di Marco and creative director Frida Giannini will be stepping down from their respective posts next year.

Dec 13, 2014

BSE closes points 251.33 down on Dec 12

New Delhi, Dec 12 (ANI): Trading at the Bombay Stock Exchange today closed 251.33 points down to stand at 27,350.68. At the National Stock Exchange the Nifty closed 68.80 points down to stand at 8,224.10. KPIT and AMARAJABAT were among the top gainers of Group A with an increase of 5.57% and 4.73% along with EMAMI LTD and Jubilant Food Works Ltd. with an increase of 4.32% and 4.24% respectively, while the top losers of Group A include Sunrise Asian LTD and PMC Fincorp LTD with a decrease 18.94% and 12.71% along with JETAIRWAYS and SUNTV with a decrease of 9.44% and 7.99% at the close of the markets. The Auto sector is down 86.93 points at 18,674.50 while the banking sector is down 113.96 points at 20,975.21 and the reality sector is down 40.20 points at 1,590.37. The Indian currency is up 0.01% at Rs 62.33 per dollar.

Dec 12, 2014

TCS Planning Staff Restructuring Aimed at '25,000' Senior Employees

Tata Consultancy Services would be evaluating senior staff covering about 25,000 employees. The company says it is 'nothing out of the ordinary.'

Dec 12, 2014

Hearst Buys 25 Percent Stake in DreamWorks AwesomenessTV for $81.25 Million

Hearst Corporation, the media giant that operates ESPN and The Oprah Magazine, has reportedly purchased 25 percent stake in DreamWorks Animation's AwsomenessTV (ATV) for a deal worth $81.25 million, the companies announced on Thursday.

Dec 12, 2014

SeaWorld CEO Steps Down amid Rising Controversies and Falling Revenue

The board of SeaWorld Entertainment Inc., the Florida-based aquatic amusement park, announced Thursday that CEO Jim Atchison will be stepping down from his post on January 15.

Dec 12, 2014

BSE closes points 229.09 down on Dec 11

New Delhi, Dec 11 (ANI): Trading at the Bombay Stock Exchange today closed 229.09 points down to stand at 27,602.01. At the National Stock Exchange the Nifty closed 62.75 points down to stand at 8,292.90. SREI INFRASTRUCTURE FINANCE LTD. and NETWORK18 were among the top gainers of Group A with an increase of 16.26% and 10.90% along with GRUH and DHFL with an increase of 6.17% and 5.37% respectively, while the top losers of Group A include HAVELLS and HDIL with a decrease 8.81% and 6.19% along with SCI and BEML with a decrease of 5.05% and 5.03% at the close of the markets. The Auto sector is down 152.74 points at 18,761.43 while the banking sector is down 69.07 points at 21,089.17 and the reality sector is down 33.71 points at 1,630.57. The Indian currency is up 0.47% at Rs 62.31 per dollar.

Dec 11, 2014

Tea Exports to Russia a Losing Proposition

Russia, the world's largest importer of tea has come under pressure from the fall in ruble, leading to margins coming under severe pressure for Indian exporters.

Dec 11, 2014

Jet Airways Gains From SpiceJet's Problems, Shares Rise 80% in a Fortnight

Jet Airways sees shares jump 80% on the back of continued owes faced by SpiceJet and lower fuel bill.

Dec 11, 2014

India to Cut Stake in State-run Banks, Raise $26 bn

State-run banks would see government stake coming down to 52%; banks to use funds for capital infusion to meet newer international banking regulations ₹

Dec 11, 2014

SpiceJet Offers Tickets at 50% Discount to That of Rivals, Refunds 55,000 Cancellations

Budget airline SpiceJet offers to fly travelers at up to 50% discount to its peers's fares.

Dec 11, 2014

Finance Minister and RBI Governor Raghuram Rajan

RBI Governor Comes Under Pressure from MPs to Cut Rates

MPs cutting across political parties seek to increase pressure on Raghuram Rajan to cut rates to improve credit off-take and spur economic growth

Dec 11, 2014

Abercrombie & Fitch CEO Mike Jefferies Steps Down

Michael Jefferies, the controversial CEO of Abercrombie & Fitch stepped down from his post on Tuesday effective immediately, marking the end of a two-decade long career that saw several ups and downs.

Dec 10, 2014

BSE closes points 34.09 up on Dec 10

New Delhi, Dec 10 (ANI): Trading at the Bombay Stock Exchange today closed 34.09 points up to stand at 27,831.10. At the National Stock Exchange the Nifty closed 14.95 points up to stand at 8,355.65. SKS MICROFINANCE LTD and GITANJALI were among the top gainers of Group A with an increase of 10.76% and 8.83% along with PIPAVAVDOC and AJANTA PHARMA LTD with an increase of 8.10% and 6.40% respectively, while the top losers of Group A include HAVELLS and RASOYPR with a decrease 6.73% and 4.92% along with ABAN and VAKRANGEE with a decrease of 4.39% and 3.46% at the close of the markets. The Auto sector is up 68.56 points at 18,914.17 while the banking sector is up 211.09 points at 21,158.24 and the reality sector is up 4.29 points at 1,664.28. The Indian currency is up 0.21% at Rs 62.01 per dollar.

Dec 10, 2014

Rising Demand will Push Indian Economy towards 5-6% Growth in 2015: Moody's

In a report titled 2015 Outlook-Global Credit Conditions, ratings agency Moody's says India is likely to expand 5-6% in 2015.

Dec 10, 2014

Citi Group Nears Japan Exit; SMBC to Buy Bank's Retail Unit

Citi Group, the third-largest US bank, has reportedly entered into advanced talks with SMBC, a unit of Sumitomo Mitsui Financial Group, to sell its retail banking unit in Japan as the sector has been grappling with losses.

Dec 10, 2014