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United CEO Jeff Smisek resigns amid federal probe

In connection with an investigation into United Airline's dealings, the chairman and CEO of the company has decided to step down. United Continental Holdings Inc. said Tuesday that Jeff Smisek and two other senior executives...


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OVL buys 15% stake in Russia's Vankor oil field for $1.25 billion

ONGC Videsh Ltd (OVL) has bought a 15 percent stake in Russia's second largest oil field from Rosneft for about Rs 8,932.95 crore. OVL signed agreements in Moscow to buy stake in the Vankor oil field in East Siberia...


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Micromax chairman Sanjay Kapoor resigns

Sanjay Kapoor, the chairman of Micromax, has resigned after serving a little more than a year. In an email, the company said "Mr Sanjay Kapoor has decided to move on". Some individuals, familiar with the matter said that his departure is a result of differences with promoters regarding strategy.


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Sensex soars to regain 26,000 amid hopes of RBI rate cut

BSE Sensex and Nifty gained in global markets on Thursday, with Sensex rising as much as 455 points at its day's high of 26,170.39 while Nifty hit 7,930.80. A higher trading rupee also lifted the sentiment.


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Sensex Recovers After 450 Point Fall, Rupee Rebounds

With help from a strong opening in European markets and buying at lower levels, Indian stock markets started off on a high on Tuesday, with the BSE Sensex climbing around 380 points in opening trade, but panic selling...


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Sensex gains over 300 points as regional markets rebound

On Tuesday, Sensex was up by 383.27 points in early trade, whereas Nifty was up by more than 80 points post India's share markets plummeting almost 6% on Monday. Indian shares increased over one percent with regional markets...


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Sensex drops over 1,000 points, rupee at 2-year low

Sensex plummeted by over 1,000 points and the rupee dropped to a two-year low on Monday in the early morning trade, amidst worldwide rout. Shanghai shares crashed 8% over the concerns that the Chinese economy had...


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Maruti hikes prices across models by up to Rs 9000 except for new S-Cross

Maruti Suzuki India has hiked prices of all its products by up to Rs 9,000, except that of newly-launched premium crossover S-Cross, citing changes in dealer margin. The hike has come within a fortnight of rival Hyundai...


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Small finance bank licences in Sept: Rajan

After granting in-principle approval to 11 applicants for payments banks, Reserve Bank of India (RBI) governor Raghuram Rajan said licenses for small finance banks will be announced next month.


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Amazon faces flak for alleged difficult work conditions

The New York Times (NYT) story about work conditions at Amazon has got mixed response. The article describes coldhearted bosses at Jeff Bezos' company, annual staff cuts described as "purposeful Darwinism" and grueling...


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Maggi row: Govt to go ahead with Rs 640 cr suit despite Bombay HC verdict

Union Minister Ram Vilas Paswan has said that the verdict by the Bombay HC does not alter the grounds on which it has claimed Rs 640 crore in damages from Nestle for false advertisement and unfair trade practices.


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Startups.co comes to the aid of closed on-demand virtual assistant firm Zirtual

A startup that had raised $5.5 million suddenly dissolved. It deleted its Facebook pages, Twitter accounts, and Google + profile. It changed its website to say its "pausing operations."


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Govt hits Nestle with Rs 640-cr damage suit over Maggi

More than a month after banning Maggi, the government on Tuesday slapped a Rs 640 crore damage suit on Nestle India. In a first-of-its-kind "class action" complaint against Nestle India, the government lodged a...


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BMW ponders if Google's Alphabet infringes trademark rights

BMW on Tuesday said it was determining whether Google violated any trademark rights after the Silicon Valley-based group started a new company called Alphabet, which is also the name of a BMW subsidiary.


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Greek debt crisis: Greece, lenders reach bailout deal

Greece and international creditors settled on a new multi-billion euro bailout deal on Tuesday, said a finance ministry official, in a agreement which will keep the country in the eurozone and prevent bankruptcy.


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Greece, creditors on course to reach third bailout accord

Greek leaders and its international creditors on Sunday resumed talks in Athens with hope that both sides will finalize the terms of a third bailout in the coming days.


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Watch out Flipkart, Amazon; Snapdeal to raise $500 mn from Alibaba, SoftBank,

Online ecommerce giant Snapdeal is set to secure $500 million (Rs 3,206.5 crore) in investment from Alibaba Group Holding Ltd, SoftBank Group Corp and Foxconn, the trading name of Hon Hai Precision Industry Co Ltd, a source revealed on Monday.


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Some relief: Petrol price cut by Rs 2.43/litre, diesel Rs 3.60 on lower crude

In a third drop in the petrol and diesel rates this month, Petrol price was cut by Rs 2.43 per litre and diesel by Rs 3.60 a litre with effect from Friday midnight.


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Coal scam: Charges framed against Koda

A special court today framed charges against ex-Jharkhand Chief Minister Madhu Koda, former coal secretary HC Gupta, and 7 others, pertaining to alleged irregularities in allocation of a coal block.


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Bombay HC suggests new tests for Maggi Noodles

Nestle India , the manufacturer of Maggi instant noodles, has decided to go for an independent lab testing of the product given that the tests are carried out in the presence of a reputed scientist.


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GM to invest $1 billion in India

America's largest carmaker General Motors is planning to invest $1bn in India to boost production in its main local plant and transform the country into a global export hub.


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Maggi effect: Nestle posts first quarterly loss in 15 years, shares drop and

Shares of Nestle India fell during opening trade on the Bombay Stock Exchange's (BSE) Sensex as the company reported its first quarterly loss in 15 years. Hit by ban on its Maggi instant noodles, FMCG major Nestle...


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Rajesh Exports acquires refiner Valcambi for $400 million

Jeweller Rajesh Exports Ltd has sealed a $400 million deal to buy Swiss company Valcambi, the world's largest gold refiner, to secure raw material supplies at lower prices and procure technological expertise to expand...


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Over 61000 Indian millionaires moved abroad in last 14 years

According to a report, India has witnessed the second-biggest outflow of high net worth individuals in last 14 years. Around 61,000 millionaires have shifted abroad due to reasons like tax, security and child education.


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SIT on black money: Identify beneficial ownership of Participatory Notes

Seeking to check rampant black money, the Supreme Court-appointed Special Investigation Team (SIT) has recommended tough laws to curb betting in cricket, monitoring unusual rise in stock prices, regulating Participatory Notes (P-Notes), and bring donations to education and religious bodies under tax net.


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Greece debt crisis live: Lawmakers approve second crucial bailout bill

Greek lawmakers today approved legislation on a second batch of reforms which will help in unlocking a huge international bailout required by the cash-strapped nation.


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Greek debt crisis live: Moscovici pushes Merkel with pledge Greece can earn

European Commissioner Pierre Moscovici said Greece's European creditors have approved to provide debt relief as long as the country's government can provide on the terms of its third bailout package.


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Jet Airways offers special fares on domestic network, 20% discount

Jet Airways today declared special premiere fares for all travelers travelling on its domestic routes between July 20 and October 15.


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Massachusetts questions Uber & Lyft over disability access

Massachusetts has raised concerns over the efforts taken by ridesharing outfits like Uber and Lyft to accommodate disabled passengers. It is learned that the state's Attorney General is questioning both Uber and Lyft...


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Greek debt crisis live: Banks to reopen today as prices for everyday items jump

The ongoing financial crisis in Greece has already created lots of troubles for the people living there and things are going to get tougher for the Greeks from today as they will have to pay substantially more for everyday items.


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