Page 20 - Companies

Dust storm hits mango business, farmer faces huge loss

Moradabad (Uttar Pradesh), May 14 (ANI): After the sudden change in weather brought some relief from heat waves but the mango farmers in Uttar Pradesh's Moradabad faced huge loss due to massive dust storm that hit north India on Sunday. More than 20 percent of mango harvest has been damaged with fruits falling off due to gusty winds.

Ever wondered how much Jeff Bezos , Mark Zuckerberg and Elon Musk earned in their first jobs?

Ever wondered how much Donald Trump earned in his first job or what Jeff Bezos did before founding Amazon? From humble first jobs to multi-million-dollar paychecks, CEOs of top US firms have come a long way. Following is a selection of the 10 wealthiest and most successful business leaders and their first jobs.

The $16 Billion swoop of Flipkart by Walmart: All you need to know

Walmart Inc has agreed to pay $16 billion for a roughly 77% stake in Indian online marketplace Flipkart. This is the U.S. retailer’s largest deal as it opens up another front to battle rival Amazon Inc in one of the world’s fledgling e-commerce markets.

Wall Street rises on easing inflation concerns

New Delhi, May 11 (ANI): Wall Street jumped as tepid inflation data eased worries of faster interest rate hikes this year. Weak inflation data fueled buying on Wall Street with tech and telecom stocks leading the way. The Dow rose for a sixth straight session, and the S and P 500 cleared a key technical level for the second straight day. The consumer price index rose modestly in April. That cooled investors' concerns that inflation was accelerating. American multinational financial services company Wells Fargo shares rose. The bank said it'll cut expenses by $2 billion annually this year and next. American Telecommunications equipment company Qualcomm rallied. The chipmaker OKed a new $10 billion program to buy back its shares. Macy's tumbled. Morgan Stanley downgraded the department store chain's stock to "underweight" from "equal weight". Tech and materials stocks led the major markets higher in Europe.

Amazon wants shoppers to try Alexa

New Delhi, May 10 (ANI): American electronic commerce company Amazon teamed up with home construction and real estate company Lennar to set up model "smart" homes across the United States for shoppers to experience its voice assistant Alexa. Aside from finding good tunes, Amazon wants people to know, Alexa can also do things like dimming lights, turning on TV, and locking doors. Amazon's smart homes are now open near 15 big cities, including Los Angeles, Dallas, and Washington, with more to come. The global smart home market is expected to reach $107 billion by 2023 according to market research firm ReportLinker.

Disney earnings surge post 'Black Panther' success

New Delhi, May 09 (ANI): Walt Disney reported a 9 percent rise in quarterly revenue, powered by the box-office success of superhero movie 'Black Panther' as well as higher attendance and spending in its theme parks and resorts business. The company's CEO Bob Iger said on a conference call with investors that he is confident Disney's deal to buy media assets from Twenty-First Century Fox will go forward.

Wall Street rises as Apple rallies

New Delhi, May 08 (ANI): Wall Street climbed on Monday. American multinational technology company Apple's sixth straight day of gains helped drive the markets higher. A spurt in oil prices ignited energy stocks, and that powered the stock markets higher Monday. Tech stocks like Apple also on the vanguard as defensive stocks like utilities took a backseat. Apple continued to plow higher. It's still riding on Friday's news that Berkshire Hathaway's Warren Buffett had raised his stake in the iPhone maker. Tyson Foods shares rose. Quarterly profit at the United States' largest meat processor declined and missed analysts' estimates. Higher costs for labor and transportation hurt results. Nestle will pay Starbucks $7 billion for the rights to sell its products worldwide. The news sent shares of Starbucks down and Nestle up. The Swiss food giant's rally and positive corporate earnings helped drive the European markets higher. They closed near the sessions' highs.

Ola launches new initiative for social causes

New Delhi, May 07 (ANI): Leading ride-sharing company, Ola, on Monday launched 'My Ride My Cause.' on its platform to crowdSource funds and support social causes by leveraging its vast network of millions of customers across India. Ola has rolled out this special initiative through a unique partnership with Tata Trusts' Alamelu Charitable Foundation (ACF). As a part of this initiative, Ola customers will have the option to contribute a sum of Rs. 1 per ride. This sum will be crowdsourced and utilised towards lending support to improve cancer care in the country. There is a huge burden of cancer in India with 14.5 lakh new cases reported in 2016 alone. In order to bring about meaningful change in cancer care, Tata Trusts has taken on the mission to support the delivery of affordable and accessible care, and motivate people for regular screening. With millions of rides that Ola facilitates per day and a huge network of customers across India, this partnership will certainly, result in mo

Now book an Ola right from your MobiKwik App

New Delhi, May 04 (ANI): In a bid to reiterate its commitment to the government's push towards digital transactions in India, MobiKwik, one of India's leading digital financial services platform, and Ola, leading ride-sharing company, recently announced a first-of-its-kind partnership. This deal will enable MobiKwik users to book Ola cabs and autos across 110 cities in India from within the MobiKwik app. With this partnership, MobiKwik users will have access to Ola's multi-modal commuting offerings, from pocket-friendly options such as Ola Auto, Micro, and Mini to premium categories such as Ola Prime, Ola Prime Play, Ola Prime SUV, and Ola Lux. It also aims to provide a more seamless experience as customers can directly book an Ola ride through their MobiKwik app and pay up through the MobiKwik wallet, without having to shuffle between apps. Further, as a part of the launch offer, MobiKwik is offering Rs. 50 SuperCash on the first five rides. Alternatively, Mobikwik users can use 10 pe

Wall Street drops amid trade worries

New Delhi, May 03 (ANI): Stocks dropped on Wednesday as investors remained concerned about worsening trade relations between the United States and China. The Wall Street initially shot higher after the Federal Reserve decided to hold interest rates steady on Wednesday. But stocks shed their gains as investors remained concerned about worsening trade relations between the United States and China. Electric vehicle maker Tesla shares rose after the bell. It said its production target for its mass market vehicle, the Model 3, remains on track. Pulling up the S and P 500, Apple sold more iPhones in the latest quarter and promised $100 billion in additional stock buybacks. Its results lifted shares of its suppliers such as Cirrus Logic and Skyworks Solutions. Mastercard shares charged ahead. Higher consumer spending on credit and debit cards drove profit and revenue sharply higher. Snap shares sank to an all-time low. A number of analysts slashed their price targets. The owner of the Snapcha

S and P, Nasdaq advance on trade optimism

New Delhi, May 02 (ANI): Tech stocks lifted Wall Street mostly higher Tuesday. A Trump administration official's comment that he hoped to further open China's economy helped the S and P 500 bounce back. But Pfizer's disappointing earnings drove down the Dow, which fell for the third straight session. After ringing of the bell, Apple shares rose. Its quarterly profit and revenue topped expectations as it sold 52.2 million iPhones. Pfizer dropped. Quarterly revenue at the U.S.' largest drugmaker rose but missed estimates. Rival Merck lifted its earnings forecast for the year, but its shares also fell. The company formerly known as Coach, Tapestry, tumbled. The handbag maker's quarterly margins dropped, and same store sales at its Kate Spade business declined more than expected. In Europe consumer cyclicals and healthcare stocks drove the markets higher.

Marathon Petroleum buys Andeavor for $23 billion

New Delhi, May 01 (ANI): Marathon Petroleum on Monday has announced it will buy competitor Andeavor in a $23.3 billion deal. It's paying more than $23 billion in a cash and stock, a 24 percent premium to Andeavor's closing price on Friday. The company forms after Marathon buys Andeavor will also makes it the No. 1 United States refiner by capacity with a fuel production throughput of more than 3 million barrels per day. This newly combined company would become a top-five refiner in the world, based on capacity. According to the Analysts there is a good chance that Marathon and Andeavor will avoid antitrust scrutiny because their operations are complementary. The deal is expected to close in the second half of this year.

Wall Street drops as healthcare slides, oil climbs

New Delhi, May 01 (ANI): The Wall Street fell on Monday as healthcare stocks slid and rising oil prices and a looming deadline for exemptions to United States steel and aluminum tariffs weighed on investor sentiment. Leading the S and P gainers: Andeavor. Marathon Petroleum is buying its rival oil refiner for more than $23 billion. American fast food company, McDonald's shares spurted higher. Global comparable store sales shot sharply higher, and rising profit and falling revenue at the world's largest restaurant chain both topped analysts' estimates. Shares of Sprint and T-Mobile US dropped after the wireless carriers agreed to merge in a $26 billion all-stock deal. Investors took comfort in data showing inflation was in check. Personal income rose less than expected in March, and personal spending in February was revised lower. In Europe, strong earnings and an easing of inter-Korea tensions helped European benchmarks end April with their strongest monthly gains in two years.

Closing Bell: Sensex soars 190.66pts, Nifty at 10,739.35

Mumbai, Apr 30 (ANI): Market indices ended positive on Monday evening, backed by fresh global cues and correction in prices of crude oil. The BSE's Sensex ended 190.66 points higher at 35,160.36, while Nifty inched closer to 10,800 at 10,739.35 in closing trade. Marico, Vijaya Bank, Bombay Dyeing and Jet Airways gained up to eight percent, while InterGlobe Aviation, PC Jeweller and IDBI Bank traded under pressure and incurred losses of up to 19 percent. All sectoral indices traded in green, with FMCG, IT, PSU Bank and Realty indices rising over one percent each. Meanwhile, HDFC gained nearly two percent after reporting a 39 percent rise in profits.

Sprint, T-Mobile agree to $26 billion merger

New Delhi, Apr 30 (ANI): T-Mobile and Sprint announced on April 29 that they had agreed to a $26 billion all-stock deal as they aim to fight top competitors Verizon Wireless and ATandT. Those two stand well ahead of Sprint and T-Mobile in preparing for 5G technology, which is expected to have speeds necessary to power drones and self-driving cars. The $26 billion all-stock deal gives T-Mobile majority owner Deutsche Telekom 42 percent of the company and control of the board. The New York Times reports the new firm will retain the T-Mobile name and be run by its current CEO John Legere. Japan's SoftBank Group, which controls Sprint, would own 27 percent of the merged firm and have four board seats.

5 platforms to help every woman with that extra penny!

New Delhi, Apr 26 (ANI): A homemaker has a sum of endless roles and often these roles are overlooked as women automatically recourse their responsibilities towards the kitchen. But with evolving time, the participation and partnership of both women and men are being considered integral. Today, each woman has started spending their leisure time in doing something that she loves, so that she can refill and restore her own soul and be equipped to pour into the lives of the family.

India, World Bank to improve MP's rural road network

New Delhi, Apr 25 (ANI): The Government of India, the Government of Madhya Pradesh and the World Bank signed a 210 million dollar loan agreement for the Madhya Pradesh Rural Connectivity Project. The project is expected to improve the durability, resilience, and safety of the gravel-surfaced rural roads and enhance the capacity of the state to manage its rural roads network. The new joint project will cover 10,510 km stretch of rural roads in Madhya Pradesh that fall under the Chief Minister's Gram Sadak Yojana (CMGSY) program. Of this, 10,000 km will be upgraded from existing gravel to bituminous surface roads, while 510 km of new roads will be built to the same bituminous surface standard. The project will also strengthen road safety management systems with the objective of reducing fatalities and serious injuries from road accidents. The focus will be on improving road accident data collection and analysis at central and state levels through implementation of the Road Accident Datab

Shaktikanta Das endorses formation of 'holding company' for PSBs

New Delhi, Apr 25 (ANI): Former economic affairs secretary Shaktikanta Das claimed that it was time to set up a 'holding company' for public sector banks (PSBs), in the wake of the recent economic reforms. Das said "It is my personal opinion that the government should make a holding company for public sector banks. There are around 21 such banks. I feel that around ten should be retained as it is, and the rest should be merged or taken over. The creation of a holding company will allow shares of these PSBs to be transferred."

Cash Suvidha to disburse Rs 400 cr loan to 50,000+ borrowers in FY' 18-19

New Delhi, Apr 24 (ANI): Cash Suvidha, a fintech startup that began its operations in May 2016 by extending business loans to SMEs, MSMEs, and personal and women entrepreneurs has added another feather to its cap. It has disbursed around Rs 122 crore of loans in the Financial Year 2017-2018 and targets to disburse Rs 400 crore loan amount by the end of March 2019. In the last financial year, the maximum loan disbursement i.e., nearly 70 per cent of the total loans was provided to the SME sector which generally finds it difficult to obtain credit or working capital from the banks owing to a number of reasons. "India today boasts of nearly 50 million firms that can be classified under the SME category and are innovatively pacing themselves up to cater to the ever-increasing needs of the growing population. In addition, the number of women entrepreneurs in India is also growing at a fast pace. In such times, Cash Suvidha is playing a significant role in empowering SMEs, MSMEs, individuals

E-way bill to rollout in four states on April 25: Centre

New Delhi, April 24 (ANI): The Centre on Monday stated that the e-way bill system for intra-state movement of goods will be rolled out in four more states and one union territory on Wednesday. As per the Ministry of Finance, the e-way bill system is being introduced to four states starting April 25, namely Arunachal Pradesh, Madhya Pradesh, Meghalaya, and Sikkim, and will also be rolled out in Puducherry. It also noted that as on April 22, more than 1,84,000 e-way bills have been successfully generated, which includes more than 22,00,000 e-way bills for intra-state movement of goods.