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HindustanTimes Thu,31 Jul 2014

Business

Flipkart raises $1 bn in funds, beats giants in values

India's largest e-commerce firm Flipkart on Tuesday said it has raised $1 billion (over Rs. 6,000 crore) in fresh funding from a group of investors, the largest so far in the fiercely competitive online shopping segment in the country.

Ranbaxy posts loss on provision for US settlement

Generic drugmaker Ranbaxy Laboratories Ltd posted a net loss for the quarter to end-June after making a provision related to 'ongoing settlement discussions' with US government authorities.

Tatas to invest $35 bnover 3 years; 2013-14 revenue tops $100 billion

The Tata Group will invest $35 billion (about Rs. 2.1 lakh crore) over the next three years as part of its broad strategy to be among the world’s top 25 companies by 2025.

World trade talks stutter over India stand

Global trade negotiators met at the World Trade Organization headquarters on Tuesday to break an impasse after India took a firm stand last week that it will only back a worldwide reform of customs rules.

Audi leads, Mercedes plays catch-up with new launches

German luxury carmaker Audi withstood pressure from its country rival Mercedes to stay ahead in the race to the top of the luxury car market in India in the first half of 2014.

Getting your income tax returns in order

With the deadline of filing your income tax returns for the financial year 2012-13 round the corner, HT tells you all that is needed to get your filing right.

Mansion House makers eye Rs. 825-cr stake sale

Tilaknagar Industries (TI), the maker of Mansion House Brandy, is planning to sell stakes worth around `825 crore to pare its debt, according to a top company official.

World Cup effect: Twitter shares soar 35%, active users up by 24%

Twitter Inc halted a slowdown in user-growth in the second quarter with the help of product tweaks and services built around the World Cup, assuaging concerns for now that the online messaging service had peaked.

Facebook to shut down Gifts service in latest e-commerce shift

Facebook Inc will shut its 2-year-old Gifts shop on Aug. 12, as the world's largest social network tests other ways to let consumers buy products on its website.

Japan June output falls at fastest pace since March 2011 quake

Japan's June industrial output fell at the fastest rate since the devastating earthquake and tsunami in March 2011 as companies slowed production to offset a build-up in inventories, official data showed on Wednesday, clouding the outlook for the economy.

Piramal, Dutch APG tie up for $1 bln infra investment

India's Piramal Enterprises Ltd has tied up with Dutch pension fund APG Asset Management to invest in rupee-denominated mezzanine instruments issued by Indian infrastructure companies, the two sides said on Wednesday.

Citi to hire 100 bankers in Asia, eyes more business from smaller clients

Citigroup plans to hire as many as 100 bankers in a renewed push into Asia-Pacific commercial banking, following in rival HSBC's footsteps with a strategy that focuses on selling smaller corporate clients a wider range of products.

Honda says quarterly net profit jumped 19.6% to $1.4bn

Japanese automaker Honda said on Tuesday its latest quarterly net profit jumped 19.6% to $1.4 billion thanks to a weak yen, as it boosted its full-year profit forecast.

ITC Q1 profit up 16%, sales jump on demand for smaller smokes

ITC Ltd reported a better-than-expected 25% rise in quarterly sales as demand for smaller and cheaper cigarettes grew and its consumer goods business put in a stronger performance.

Reliance Power buys hydro power portfolio of Jaypee

Anil Ambani Group company Reliance Power emerged as a dark horse, beating rivals like Adani Power and JSW, to win a deal to buy the entire hydro power portfolio of Jaiprakash Associates Ltd comprising three operating plants.
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