Companies

Nokia cuts over 1,000 jobs in Finland

Finland's biggest company has cut thousands of jobs in its home country over the past decade as its once-dominant phone business was eclipsed by the rise of smartphone rivals.

May 21, 2016

IDBI Bank reports Rs. 1,736 crore loss for March quarter

A 159 percent spike in provisioning for bad loans led to the bank reporting a loss as against a net profit in the March 2015 quarter.

May 20, 2016

SpiceJet shares nosedive despite posting record net profit for March quarter

Budget carrier SpiceJet net profit for March 2016 quarter skyrocketed to Rs. 73 crore from Rs. 22 crore, y-o-y.

May 20, 2016

Reliance Lyf makes it to top five smartphone brands in India: Counterpoint Research

Global smartphone sales grew 3.9% in Q1 2016; Oppo enters Top 5: Gartner

Oppo was the top performer in Q1 2016, as it saw 145 percent growth in sales as compared to the same period previous year.

May 20, 2016

HSBC to shut down 24 branches in India

The bank said it plans to consolidate to 26 branches in 14 cities across India.

May 20, 2016

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

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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

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

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

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

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