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HindustanTimes Wed,30 Jul 2014

Business

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.

Oracle sees opportunity in India’s Internet boom

With rural penetration and mobile internet usage growing exponentially, data consumption is outstripping growth of infrastructure and facilities in India. And technology leaders are looking to take advantage of the situation.

Sebi may amend takeover norms, control definitions

Securities and Exchanges Board of India (Sebi) may soon consider some changes in its takeover norms for listed companies, including in the provisions governing price offered to minority investors and those defining change in control.

Your digital TV needs tender care

My LCD television set developed problems last month — half the screen showed white stripes. To cut the long story short, I am still wondering how to fix this as the warranty period is over.

Wipro sitting on $2-billion war chest, eyes more acquisitions

Armed with a $2-billion cash chest, India’s third-largest software services exporter, Wipro Ltd, is eyeing buyouts, especially IT service companies that cater to healthcare and manufacturing sectors.

At Rs. 10 crore, Indian CEOs earn just a tenth of US peers

Indian CEOs earn only one-tenth of the salaries raked in by their counterparts in the US and significantly lower compared to those in the UK and Germany.

Govt moves to ease coal starvation for power companies

The government has put in place a roadmap that ensures coal supplies for the next two years for the already commissioned and stranded plants as well as those that would be commissioned by March, 2015.

Australia approves Adani group’s $16-billion Queensland coal project

The Australian government on Monday approved Gautam Adani-led Adani Mining Pty Ltd’s controversial A$16.5 billion ($15.5 billion) Carmichael coal and rail project in Queensland, subject to strict conditions to protect groundwater.

Rupee flat; importers buy dollars, shares fall

The rupee is trading at 60.0950/1000 versus previous close of 60.1025/1125. The Nifty is down 0.67 percent after hitting its lowest since July 22.

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