India’s biggest commercial bank, State Bank of India (SBI), on Thursday posted a 18.54% year-on-year decline in its net profit to Rs. 3,299 crore during the quarter ended March 31, from Rs. 4,050 crore recorded during the corresponding quarter of the previous fiscal.
Abu Dhabi carrier Etihad’s Rs. 2,058-crore stake purchase in Jet Airways seems to have hit an air pocket, with regulators seeking more clarity on the deal to ensure overall competition in the aviation market is not affected and interests of public shareholders and consumers are protected.
India’s latest IPO multi-millionaire can break into a Hindi film song anytime, and prefers jeans and T-shirt to the blue suits that go with the corner office.
This is the best time to book your holiday. Intense competition and the economic slowdown have combined with normal discounts to throw up great deals for tourists. Mahua Venkatesh and Anupama Airy report. Why its raining discounts
State-owned Power Finance Corporation (PFC), which has been looking to foray into the banking space, has sought the finance ministry’s permission to acquire a substantial stake of 26% or even more in one of the five public sector banks including Punjab and Sindh Bank, Indian Bank, Central Bank of India, Bank of Maharashtra and the United Bank of India.
GM has a new people-mover. Will it capture the people’s hearts? In a tough segment, it may be a tough task. Sumant Banerji reports.
The Federal Reserve’s monetary stimulus is helping the US economy recover but the central bank needs to see further signs of traction before taking its foot off the gas pedal, Fed chairman Ben Bernanke said on Wednesday.
The iGate employee who was in a relationship with sacked CEO Phaneesh Murthy is suing him for sexual harassment, her lawyers said Wednesday, adding she is pregnant with his child. HT reports.
The BSE Sensex on Thursday plummeted 388 points, or 1.9%, to 19,674 on Thursday in line with nervous global markets after concerns that the US may scale down its bond-buying stimulus to inject money supply for growth. HT reports. Dollar-induced doldrums
A day after Japanese drugmaker Daiichi Sankyo legal threat against Ranbaxy, founder Malvinder Mohan Singh hits back saying that the Japanese drug giant was “trying desperately to shift the blame away from itself.” Gaurav Choudhury reports. The root of the dispute
Yogesh Agarwal, managing director and chief executive officer, Ballarpur International Graphic Paper Holdings BV or BILT, part of the $4 billion (
Rs. 22,000 crore) Avantha Group, feels that a leader must lead from the front with the ability to “cut the noise” and focus on the real issues.
European leaders were scheduled to discuss how to combat aggressive tax avoidance by major companies such as Amazon, Google and Apple at a summit on Wednesday, and cut an estimated €1 trillion a year that the EU is losing to tax evasion or avoidance.
Sony Corp cut its sales targets for digital cameras, smartphones and tablets by 13-17% for the year to end-March 2015, but said there were “encouraging” signs of a revival in its electronics business.
Top leadership might be talking about addressing the bilateral trade deficit issue between India and China, but experts in Beijing have warned that the imbalance is set to increase amid falling trade between the two countries.
Despite an increase in total income, engineering and construction major Larsen & Toubro (L&T) reported a 6.9% year-on-year decline in standalone net profit for the March quarter at Rs. 1,788 crore, mainly due to a sharp increase in interest costs which skyrocketed to 132%.