ITC fourth-quarter profit rises 12 percent, but misses estimates Diversified consumer company ITC Ltd posted a 12 percent growth in March-quarter profit as its biggest segment, cigarettes, witnessed growth in sales. Profit rose to 26.69 billion rupees ($413.93 million) in the fourth quarter ended March 31, from 23.81 billion rupees […]
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Business
ONGC reports 6 percent fall in fourth-quarter net profit Oil and Natural Gas Corporation Ltd (ONGC.NS), India's biggest hydrocarbon explorer, reported a 6 percent fall in fourth-quarter net profit to 43.40 billion rupees ($673 million) hurt by a one-time provision. Analysts on average had expected a profit of 49.91 billion […]
Government to hire five banks for up to $993 million IOC share sale The government is set to hire Citigroup, Deutsche Bank, Goldman Sachs, ICICI Securities and SBI Capital for a 3 percent stake sale in Indian Oil Corp (IOC.NS) that could raise as much as 64 billion rupees ($993 […]
Adani has to pay royalties in full for coal mine – Australia state premier Adani Enterprises (ADEL.NS) will get no exemption or discounted rates on royalties it has to pay to develop its Carmichael coal mine project in Australia, Queensland state Premier Annastacia Palaszczuk said on Saturday. Ministers from the […]
Wilbur Ross seeks bigger budget for trade enforcement U.S. Commerce Secretary Wilbur Ross said on Thursday that a $5.5 million increase requested for the agency's enforcement budget this year will have a "real impact" in cracking down on unfair trade practices and export security violations. Ross told a House Appropriations […]
U.S. court fines UPS $247 million over illegal cigarette shipments A federal judge ordered United Parcel Service Inc to pay nearly $247 million in damages and penalties for "illegally shipping" large volumes of untaxed cigarettes in New York state and City, a court filing showed on Thursday. UPS said it […]
New Ford CEO relies on veterans to reboot profits Ford Motor Co (F.N) on Thursday reshuffled senior management and brought back a former executive from Uber Technologies Inc, signaling its new chief executive officer will rely on tested company veterans to turn Ford around rather than outside talent. James Hackett, […]
California says VW clean car spending plan has shortcomings California regulators said Volkswagen AG's (VOWG_p.DE) spending plan on clean vehicle infrastructure had shortcomings and that it lacked details on how it would help disadvantaged communities as well as promote hydrogen fuel cell technology. The remarks in a Wednesday letter from […]
Oil drops after OPEC-led output cut extension falls below expectations Oil extended falls on Friday after tumbling in the previous session when OPEC and allied producers extended output cuts but disappointed investors betting on longer or larger supply curbs. At Thursday's meeting in Vienna, the Organization of the Petroleum Exporting […]
U.S. inflation path since 2012 is worrisome, policymaker says The current level of U.S. prices is noticeably lower than what it would be if the Federal Reserve had delivered on its 2-percent inflation target, St. Louis Federal Reserve President James Bullard said, calling the trend "worrisome." In slides prepared for […]
