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HindustanTimes Thu,31 Jul 2014

Business

Samsung profit falls as smartphone sales slow

 Samsung Galaxy S3 mini
Samsung Electronics Co. reported a bigger-than-expected fall in second quarter profit on Thursday and said it was uncertain if earnings from its handset business would improve in the current quarter.

ultimatum
WTO faction discussing customs deal without India

Farmer Jasvir Singh
New Delhi wants the deal, which must be approved on Thursday, be accompanied by a parallel agreement giving it more freedom to subsidise and stockpile food grains than allowed under WTO rules.

Govt rules out any tax amnesty scheme; vows re-look at GAAR

Why did EC allow Rahul's roadshow and deny Modi, asks Jaitley
The government on Wednesday said it will not come up with any tax amnesty scheme to unearth black money as it acts as a disincentive to honest tax payers.

Indian airline companies headed for $1.4 bn loss in 2014-15: CAPA

Indian airlines are headed for another large loss in 2014-2015 with risks peaking for some carriers, a report by aviation consultancy firm Centre for Asia Pacific Aviation (Capa) has said.

Sensex surges 96 pts to reclaim 26K level; Airtel up, L&T down

Airtel
Solid gains in Bharti Airtel, ICICI Bank and HDFC shares helped the benchmark Sensex on Wednesday log its first rise in three sessions and end about 96 points higher to reclaim the 26K level despite sharp losses suffered by L&T.

Sun Pharma to seek shareholders nod for Ranbaxy acquisition

Ranbaxy
Mumbai-based Sun Pharmaceutical Industries will seek shareholders nod for its $4 billion acquisition of Ranbaxy Laboratories in a court convened meeting on August 22.

Amazon lines up $2 billion for expansion in India

Amazon
Amazon, which launched its India operations in June last year, has been making a big push into the country’s rapidly-growing online retail market. Even though a late entrant, the company has big plans for India.

Gold falls 0.11% on weak global cues

Gold bangles

Tracking weak trend overseas, gold futures fell 0.11% to Rs. 27,835 per 10 grams on Wednesday as speculators reduced their exposures amidst a weak global trend.

Rupee rises 7 paise versus USD to end at over 2-week high of 60.06

Currency
In line with the recovery in local equities, the Indian rupee washed out early losses on Wednesday and closed up by seven paise at over two-week high of 60.06 against the greenback.

Innovation to be key in Infosys’ strategy, says Vishal Sikka

Vishal Sikka

Innovation and building new solutions to meet cuastomer needs will be centre to Infosys’ strategy, said Vishal Sikka, who is set to take over as the CEO and MD of the software services firm on Friday. The new leadership team will  broadly stick to the plan put in place by founders, he added.

HCL Tech Q4 Net up 53.7% to Rs. 1,834 crore, beats estimates

HCL
India's fourth largest software services firm HCL Technologies on Thursday reported a 53.7% jump in its consolidated net profit to Rs. 1,834 crore for the fourth quarter ended June 30, 2014.

A billion dollar bet: Seven reasons why Flipkart is hot in the market

Flipkart, Binny Bansal, Sachin Bansal
It is not really a coincidence when Amazon.com announces that it would invest $2 billion (Rs 12,000 crore) in India exactly a day after Flipkart announces it has raised a record $1 billion in the latest round of funding. Read: Amazon to invest $2 billion more in India

Third try? S Africa’s MTN in talks to buy Tata’s telecom arms

Indian telecom sector
South Africa’s largest telecom operator, MTN, is looking to foray into the Indian market again, this time by acquiring Tata Teleservices and Tata Maharashtra Ltd, sources with said.

$1 billion in its war chest: What Flipkart can learn from Alibaba

Flipkart
India's internet retailing sector grew 20% last year by value, according to Euromonitor International. Yet it's hard to see any single player in India emerging with Alibaba-like market share. Amazon says to invest $2 bn more in India, a day after Flipkart $1bn funding

BlackBerry to acquire German security solutions firm

BlackBerry
BlackBerry will acquire German security solutions firm Secusmart GmbH as part of its efforts to ramp up enterprise service offerings. Secusmart provides anti-eavesdropping solutions, among other things, for government organisations.

Sensex down 61 points in early trade; L&T plunges 7.98%

Bombay Stock Exchange
The benchmark BSE Sensex fell over 61 points in early trade on Wednesday on selling by funds and retail investors ahead of monthly expiry in the derivatives segment amidst lower-than expected corporate earnings by some firms.
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