Reuters: Money News
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Indian e-tailer Flipkart's CFO resigns
25 Oct 2016 at 9:21am
MUMBAI (Reuters) - India's largest e-commerce firm Flipkart said on Tuesday its chief financial officer would leave the company at the end of this year.
Tata shake-up may distract group from restructuring efforts
25 Oct 2016 at 7:50am
NEW DELHI/MUMBAI (Reuters) - The surprise removal of Tata Sons' chairman Cyrus Mistry and his advisory team, and the temporary return of family patriarch Ratan Tata, may distract the salt-to-software conglomerate from its efforts to trim debt and reshape some of its businesses.
Windfall at Tata's Port Talbot unlikely to change long-term outlook
25 Oct 2016 at 6:37am
PORT TALBOT, Wales - Port Talbot's loss-making steelworks is enjoying a windfall from a weaker pound, higher steel prices and stringent cost-cutting, but the benefit could be short-lived and not enough to persuade its Indian owners Tata Steel they want to keep it.
Axis Bank net profit slumps as bad loans rise
25 Oct 2016 at 7:38am
MUMBAI (Reuters) - Axis Bank Ltd on Tuesday reported an 83 percent fall in second-quarter net profit after a sharp rise in bad loans, providing more evidence of how India's banks are struggling to cope with a $138 billion distressed loan burden.
Bharti Airtel Q2 net declines on higher costs, Jio weighs on mobile business
25 Oct 2016 at 9:07am
MUMBAI (Reuters) - India's top telecoms network operator Bharti Airtel Ltd reported a drop in second-quarter profit due to higher costs and said competition from a new carrier led to slow growth in the mobile business.
U.S. locks in duties on certain Indian steel pipes
25 Oct 2016 at 8:38am
WASHINGTON (Reuters) - The U.S. International Trade Commission on Tuesday voted to lock in duties on imports of welded stainless pressure pipe from India as it affirmed the goods were harming the U.S. industry.
Anticipating tax reform, a shake-up in India's "zero mile" city Nagpur
24 Oct 2016 at 11:49pm
MUMBAI (Reuters) - When Indian retailer Future Group opened a warehouse on the outskirts of Nagpur three years ago to supply its supermarkets, the building was surrounded by dry, barren fields. Now it is only one in an expanse of distribution centres, storage depots and factories.
Britain's May defies critics to back new $22 billion Heathrow runway
25 Oct 2016 at 10:07am
LONDON (Reuters) - Britain backed a $22 billion expansion of London's Heathrow Airport on Tuesday, ending 25 years of indecision with an ambitious plan to boost global trade links following the vote to leave the European Union.
Italian bank Monte Paschi gambles on turnaround by year-end
25 Oct 2016 at 8:12am
MILAN (Reuters) - Italian lender Monte dei Paschi di Siena plans to lay off a tenth of its staff, shut branches and sell assets to win investor backing for a 5 billion euros ($5.4 billion) cash call that could shape the fortunes of the wider banking sector.
New Zealand tops World Bank survey as easiest place to do business
25 Oct 2016 at 9:36am
WASHINGTON (Reuters) - New Zealand edged out Singapore as the easiest country for doing business in the World Bank's latest rankings, while several emerging market countries improved the most by pursuing business-friendly reforms.