Page 24 - Companies

US adds 3, 13,000 jobs in February

New Delhi, Mar 10 (ANI): U.S. employers added 3,13,000 jobs in February. That's the biggest increase in more than 1-1/2 years and was much more than economists had expected. What's more, the huge job increases didn't get investors nervous about inflation because average hourly earnings growth slowed down. Wages inched up just 0.1 percent last month for an annual rate of 2.6 percent. That points to a gradual growth in inflation. That'll probably do little to temper expectations that the Federal Reserve will hike interest rates in March. But it could temper expectations it'll change its rate increase forecast to four hikes this year from three. Investors liked what they heard, driving stocks up at the market open Friday. Bond yields rose, too. Wunderlich Securities chief market strategist Art Hogan said, "It's a great jobs report across the board." The unemployment rate held steady at 4.1 percent as more people entered the labor market. Employment gains were broad. Construction led the p

EU expects to be excluded from US steel tariffs

New Delhi, Mar 10 (ANI): The European Union Trade Commissioner, Cecilia Malmstrom stated that Europe expects to be excluded from the United States steel and aluminium tariffs. The tariffs are 25 percent for steel imports, and 10 for aluminium, and come into effect in fifteen days. 15 percent of Europe's steel exports went to the United States in 2017.

Virat Kohli named Uber India's first brand ambassador

New Delhi, Feb 09 (ANI): Popular ridesharing app Uber on Friday announced the appointment of Indian skipper Virat Kohli as its first brand ambassador in India, thus embarking on a first-of-its-kind initiative across the Asia Pacific (APAC) region. Sharing a common vision of empowering people and communities, this partnership will see Uber and Virat Kohli joining hands to underscore the company's commitment to serve billions in the country, in the years to come. Besides being the face of the brand, Virat will be actively involved in a series of marketing and customer experience initiatives to be rolled out by Uber India.

Nissan in talks to buy France's Renault stake

New Delhi, Mar 09 (ANI): After years of opposing France's influence on its partnership with Renault, Nissan may finally have a chance to deepen ties with its French counterpart. The carmakers are in talks with government officials over proposals by Renault-Nissan boss Carlos Ghosn for Nissan to buy the bulk of France's equity stake in Renault.

Delhi's IGI Airport tops Service Quality Awards 2017

New Delhi, Mar 08 (ANI): Delhi's Indira Gandhi International (IGI) Airport has been adjudged as the best Airport, according to the latest rankings by Airport Service Quality (ASQ) 2017. The list was released by Airport Council International. IGI surpassed South Korea's Incheon Airport which topped the list last year. IGI secured the top placed in the highest category of over 40 million passengers per annum. IGI is the seventh busiest airport in Asia. ASQ is presently the only worldwide programme to survey passengers at the airport.

Wall Street gains in choppy trade

New Delhi, Mar 07 (ANI): The Wall Street rose in a choppy session on Tuesday. Fears of a global trade war cooled as lawmakers stepped up calls for President Donald Trump to pull back from his proposed tariffs on aluminum and steel. The target shares slipped. The retailer's profit in the holiday quarter soared but missed estimates.

US is set to steal oil market share from OPEC over next 5 years, says International Energy Agency

New Delhi, Mar 06 (ANI): The International Energy Agency says the U.S. will steal oil market share from OPEC producers and get closer to becoming self sufficient as a result of scaled up shale production. Fred Katayama reports. The U.S. is set to steal oil market share from OPEC over the next five years. The International Energy Agency says the surge in U.S. shale oil production will help what was once the world's top oil importer get closer to becoming self sufficient. What's more, the agency says that by 2023, the U.S. will become by far the world's top producer of oil liquids.

Insurer AXA buys Bermuda-based XL Group for over $15 billion

New Delhi, Mar 06 (ANI): Europe's second biggest insurer, AXA says it's buying the Bermuda-based XL Group -for over $15 billion. Financing the deal with debt, cash and the proceeds of the IPO of its U.S. business. The move is one of the latest M and A's in the insurance market. Last month American International Group said it's buying reinsurer Validus for around $5.6 billion. A sign insurers are trying to strengthen their businesses, in the face of tighter regulation and falling returns. AXA is offering just over $57 for each XL share -a 33 percent premium to Friday's closing price.

Airbus A320neo engine glitch: All you need to know

IndiGo Airlines has grounded three A320 neo aircraft due to engine problems, according to a senior official at aviation regulator DGCA.The grounded aircraft are powered by Pratt & Whitney engines and the move follows a directive from European aviation safety regulator EASA.

India will maintain rapid growth rate, says FM Jaitley

New Delhi, March 05 (ANI): Union Finance Minister Arun Jaitley on Sunday said that India will most definitely retain its position of a 'fast growing economy' in the coming decades. "We (India) are looked at as one of the bright spots in the world and over the next one or two decades our potential to retain that position of a fast growing economy, as China did in the last three decades," Jaitley said while addressing students at the 17th convocation of Jammu University. Jaitley also said that the economy today is market-determined and this trend is likely to grow. "If you actually see the nature of the world economy or Indian economy and you look at the largest companies today, compare it with the list of companies which existed prior to 1991; (prior to 1991), it was more regulatory, and post 1991, it is market determined. This nature of economy globally and also in India is going to expand further," he said. He also appreciated the efforts by the state government and Jammu University t

Relax deadline for linking Aadhar with bank accounts, recommends ASSOCHAM

New Delhi, Mar 04 (ANI): Industry body Associated Chambers of Commerce and Industry of India, ASSOCHAM, on Sunday urged the Government to extend deadline for linking bank accounts with Aadhar cards. The body specified to extend linking especially in Public Sector Banks (PSBs) post-PNB Scam. ASSOCHAM said that economy has just come out of the impact of Demonetisation and GST, and there are challenges in linking accounts. The deadline for linking bank accounts with Aadhar is March 31.

Uber Co-Founder to launch new cryptocurrency

New Delhi, March 04 (ANI): Garrett Camp, Co-Founder of ridesharing, food delivery and transportation network company Uber has announced to launch his own cryptocurrency- Eco. Camp wants Eco to be elevated as a digital global currency and used as a payment tool around the world for daily use transactions. He is also the founder of the accelerator fund Expa. Initially, out of one trillion tokens for Eco issued, half will be given away to the first one billion verified humans that sign up. Camp, along with some partners affiliated with Expa, will also donate USD 10 million to seed the foundation with an operating budget.

Tariffs could hurt US producers and jobs, experts warn

New Delhi, Mar 03 (ANI): Some CEOs and economists say the import tariffs on steel and aluminum that President Trump vows to impose could hurt the U.S. economy by raising prices and destroying jobs. The tariffs on imported steel and aluminum that President Donald Trump vows to impose could offer relief for those US industries. But some CEOs and economists say they'll hurt the U.S. economy by raising prices and inviting retaliation against U.S. exporters. And some experts say tariffs will destroy more jobs than the import curbs create. Companies may have to pay higher prices for those metals. Construction and car makers are the heaviest users of steel. The American International Auto Dealers Association warns, consumers could end up paying more for cars and trucks. Construction equipment maker Caterpillar says most of the steel it uses is domestic. But it fears the tariffs could push up domestic steel prices along with prices of imported steel. That, the company says, would put it at a d

Wall Street pares losses from tariff threat

New Delhi, Mar 03 (ANI): The S and P 500 bounced back from a 30 point deficit on March 2 after initially plunging on fears of a global trade war. The indexes suffered losses for the week. President Donald Trump tweeted Friday that trade wars are "good, and easy to win," showing defiance as he faced global criticism for vowing to slap import tariffs on steel and aluminum. Global Markets Advisory Group senior market strategist Peter Kenny says the S and P needs to fall more to test a key technical level: Investors sought safety, bidding up gold, the Japanese yen and government bonds. They also bought defensive stocks like telecom, utility consumer staples stocks. J.C. Penney shares plunged. The department store chain's quarterly sales at established stores rose but fell short of analysts' estimates. Footlocker stumbled. Traffic at its U.S. stores was flat, and same-store sales fell more deeply than expected. Trump threatened a 25 percent tariff on steel imports and 10 percent on aluminum

World's 500 richest lose USD 107 billion combined

New Delhi, Mar 03 (ANI): In a massive week of disappointment to world's richest 500 incurred $107 billion in combined this week. Facebook's CEO Mark Zuckerberg was the top on the list after losing $ 3.2 billion as large cap stocks disappointed for a fourth straight day, according to Bloomberg Billionaires Index was followed by Spain's Amancio Ortega and Mexico's Carlos Slim, both facing set back of $ 2.4 billion. Chinese tycoons saw a loss of $ 16 billion.

Modi govt should incentivise assembling of CKD units under Make in India': Triumph India MD

In an interview with Khalid Anzar, Triumph India Managing Director Vimal Sumbly shares his thoughts on how the Narendra Modi govt’s recent move to reduce duty on imported bikes from 75% to 50% will not much help international bike makers, especially those importing complete-knocked-down (CKD) units and then assembling in India.

US to impose steel, aluminum tariffs

New Delhi, Mar 02 (ANI): U.S. President Donald Trump said the United States will impose tariffs on steel and aluminum imports from next week. For steel, it's a 25 percent tax. For aluminum, ten percent. Trump said the tariffs will protect U.S. industry. But critics said they will only raise costs without adding jobs. Steel stocks rose on the news. But industrials, including Boeing and Caterpillar, took a beating on fears that tariffs could hit profits. The sector took the rest of Wall Street along for the ride. The tariffs will likely increase tensions with China. The country already indicated it could retaliate by targeting U.S. agricultural imports, such as soybeans.

Railway tickets to get cheaper

New Delhi, Mar 02 (ANI): Indian Railway tickets will get slightly cheaper as Merchant Discount Rate (MDR) charges will not be levied on passengers booking tickets through debit cards up to Rs. one lakh. The move by the Government will benefit passengers booking train berth from counter as well as Indian Railway Catering and Tourism Corporation (IRCTC) website. The instructions have been issued to Department of Financial Services. The move is to promote digital and cashless transactions, according to railway officials.

Harley-Davidson invests in electric motorbike maker Alta Motors

New Delhi, Mar 02 (ANI): Famous American motorcycle manufactures Harley-Davidson has invested and became a stake-holder in Alta Motors, a light vehicle EV drivetrain maker based in Brisbane, California. The investment by Harley comes ahead of launching its first electric-bike scheduled in 2019. The collaboration between two manufacturers will focus in producing electric urban motorcycles. Alta specializes in making off-road light weight electric motorbikes.

FM Jaitley launches GPF module for government employees

New Delhi, Mar 01 (ANI): Finance Minister Arun Jaitley on Thursday launched a centralised General Provident Fund (GPF) module on the occasion of 42nd Civil Accounts Day. The electronic Pension Payment Order (ePPO) includes integration of the BHAVISHYA application of Department of Pension and Pensioners' Welfare and the Pension Authorization Retrieval and Accounting System (PARAS) application of Central Pension Accounting Office (CPAO) with Public Financial Management System (PFMS) for seamless processing of pension cases thereby eliminating delays and errors.