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HindustanTimes Thu,31 Jul 2014

Business

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

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.

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

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.

BP Q2 net profits soar 65% to $3.369bn

BP said on Tuesday that net profits surged 65% in the second quarter, boosted by high oil prices, but warned that more economic sanctions against Russia could hit performance.

Mobile data revenue zooms, Airtel Q1 net up 61% to Rs. 1,108 crore

India’s largest telecom operator, Bharti Airtel, on Tuesday reported a 60.9% year-on-year jump in consolidated net profit to `1,108 crore during the April-June quarter on the back of a 97.1% growth in data traffic and higher voice usage per customer.

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.
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