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Business

BT sees revenues rocket on the back of currency movements, EE

The UK-based operator's Global Services arm, which serves multinational enterprises, was the standout performer as sales grew 16 percent year-on-year to £1.4 billion. EE has also committed to 95 percent United Kingdom landmass coverage by 2020 too. "Ofcom's consultation on the Digital Communications Review closed earlier this month; we've submitted our response and will continue to engage with Ofcom to reach the best outcome for the United Kingdom".

Business

Mulayam pulls up Akhilesh, Shivpal calls CM a liar

A day after holding meeting with party leaders over the ongoing turmoil, Samajwadi Party supremo Mulayam Singh Yadav on Tuesday reiterated that party and Yadav family are not divided. On two occasions during the marathon meeting attended by Samajwadi Party leaders, Mulayam shouted his son down, once asking him to shut up and later asking, " Tumari haisiyat hi kya hai? ".

Business

Tata Group holding company names new interim chairman

Mistry however is still the director of individual companies of the Tata Group. Tata, 78, who took over the company's top job after Mistry was dimissed on Monday, said on Tuesday that his appointment was temporary to ensure stability until another chairman was appointed.

Business

Britain's economy grows after Brexit vote

In the three months after the Brexit referendum, the UK's GDP grew by 0 .5% quarter-on-quarter, a drop from the previous quarter's 0.7% growth rate, but exceeding the forecasted 0.3%. But Governor Mark Carney suggested this week that he was anxious about the sharp fall in the value of the pound and how that will push up inflation. "Today's figures are strong evidence for ruling out the worst-case scenario for the economy in the short term, but it's still far from clear if this will be ...

Business

Cenovus Energy's (CVE) Outperform Rating Reaffirmed at RBC Capital Markets

But there is a consensus long-term growth estimate of $8.55 by Research analysts on the Company. For the next 5 years, Cenovus Energy Inc.is expecting Growth of 52.64% per annum, whereas in the past 5 years the growth was -6.27% per annum. JPMorgan Chase & Co. increased their price objective on Cenovus Energy from C$18.00 to C$19.00 in a research report on Monday, July 11th. The consensus target price is $16.21 with 0 firms rating the stock a strong buy, 0 firms rating the stock a buy, 0 firms ...

Business

Latest Analyst Ratings For Healthcare Realty Trust Incorporated (NYSE:HR)

Wells Fargo & Co. reiterated a "buy" rating on shares of QTS Realty Trust in a research report on Thursday, September 22nd. Deutsche Bank AG lifted their price objective on Digital Realty Trust from $114.00 to $116.00 and gave the company a "buy" rating in a report on Friday, July 29th.

Business

Unilever resolves pricing row in UK

Consumers have been warned that they could face a New Year surge in prices as experts warned the Tesco spat with Unilever was just the "thin end of the wedge". Tesco is not alone in its price battle with a major supplier, which has resulted in the chain failing to restock many top household brands. That kind of approach has upset many grocers, said the analyst.

Business

Supreme Industries reports over threefold jump in Q2 consolidated net profit

The current market cap of the company is Rs 289428.64 crore. Elaborating on agri business performance, the company said, "Segment revenue grew by 2 per cent over the corresponding period in the previous year on the back of higher agri-commodity sales in the domestic market offset by lower supplies to the company's FMCG businesses (mainly account timing differences in offtake)".

Business

Jobless Claims in US Above Estimates

The Labor Department said first-time unemployment claims fell by 3,000 to 258,000 week ending October 22, higher than the median forecast of 255,000. Filings for United States jobless benefits fell for the first time in three weeks, staying near a four-decade low as employers remain unwilling to part with workers.

Business

Mulayam should become UP Chief Minister, urges Shivpal

Asked whether Shivpal and other sacked ministers would then be reinstated in the Akhilesh cabinet, he said, "I leave this to CM". The SP supremo said the party was facing a hard situation and party members should not fight with each other but his words had little effect as chaos broke out at the venue and heated words were exchanged on the dais leading to an abrupt end of the meeting.

Business

Samsung suffers 17% drop in profit after phone recall fiasco

The company on Thursday morning announced final figures for the third quarter of 2016, noting revenue that slid 7% on year to 47.8 trillion won ($42 billion) and operating income that tumbled 30% to 5.2 trillion won ($4.6 billion). " Samsung will now be looking to its next flagship launch, such as the rumored Galaxy S8 model, to recover momentum in 2017". The debacle is now taking a toll on the tech giant's bottom line.

Business

WTI Crude Slides Further Below $50 On API Data

US crude futures also fell 74 cents on the day to $49.22 a barrel. The American Petroleum Institute (API) reported that USA crude stocks rose by 4.8 MMbbl in the week ended October 21 vs. Other OPEC-members, including Libya and Nigeria, are likely to be exempt from cutting production, while Iran and Venezuela and Indonesia are also unlikely to reduce output.

Business

Jaguar Land Rover parent Tata Sons ousts chairman Cyrus Mistry

Write-downs are typically carried out when the company's assets are overvalued compared to their market value. Two days after he was unceremoniously removed from the post of the chairman of the Tata Group , Cyrus Mistry has shot an email to the board members.

Business

Thermo Fisher Scientific Inc. (TMO) Position Increased by Evercore Wealth Management LLC

Shares of Thermo Fisher Scientific Inc . More news for Thermo Fisher Scientific Inc . The company has its outstanding Shares of 394.26 Million. Artemis Investment Management LLP increased its stake in shares of Thermo Fisher Scientific by 54.6% in the second quarter.

Business

ProVise Management Group LLC Cuts Stake in Realty Income Corp

Fortive Corporation (NYSE:FTV) shares now have a mean rating of 2.50 while 4 analysts have recommended the shares as "BUY", 2 commented as "OUTPERFORM" and 9 commented as "HOLD". The company reported Earnings of $0.46 in last Quarter's while the company declared Earnings of $1.03 in past year. The company's revenue was up 7.7% compared to the same quarter past year.

Business

Canadians now spending more on Internet access than on television

The shift also saw wireless data usage increase by 44 per cent from 2014 to 2015, while fixed data usage through home Internet services increased by about 40 per cent. This growth is equivalent to 2.5% between 2014 and 2015. Almost a quarter stream radio online (23 per cent), 55 per cent stream music videos on YouTube and one in five use online streaming services.

Business

Row between Tesco and Unilever is resolved

The maker of Ben & Jerry's ice cream and Dove shampoo halted supplies to Tesco TSCO, -1.94%, leaving Britain's largest grocer without many of Unilever's flagship products available online on Wednesday. Many of its products are made outside the United Kingdom, so the company said supermarkets should be paying more pounds for them, reported the BBC.

Business

UK Backs Additional Runway At Heathrow

The failed London mayoral candidate said the decision to push ahead with a third runway was "catastrophic". A new runway could be operational by 2025. The British government has agreed to expand United Kingdom airport capacity through a third runway at Heathrow . "Abta takes a long-term view on growing airport capacity".

Business

Philippines' Duterte wants United States troops out in two years

In a speech given before Japanese businessmen in Tokyo, Duterte declared his plan to pursue an independent foreign policy that includes the ousting of US forces from the Philippine soil. Duterte also suggested he wants to tear up an integral US-Philippines defense agreement, which allows the US to operate military bases in the Pacific nation, in what would be a significant blow to American foreign policy.

Business

Race To The White House: New Polls Send Mixed Signals

Some 79 per cent of likely Republican voters said they would vote for him. Harvard Institute of Politics Polling Director John Della Volpe said "young voters are fearful about the future of America , and that is moving them to action".

Business

Oil Falls as U.S. Supply Seen Rising While Russia Dismisses Cuts

OPEC plans to decrease the production to 32.50-33 million barrels per day, and it will be hard to achieve this rate if Iraq did not participate in this agreement. Last week, the EIA surprised the market, reporting an unexpected drawdown of 5.2 MMbbl for the October 14 week as a storm delayed shipments of imported oil .

Business

Ford's 3Q profit falls on recall, truck launch

Automotive segment operating cash flow was negative $2.0 billion in the latest period, from plus $4.8 billion past year. For the same period a year ago, Detroit-based Ford earned 45 cents per diluted share on revenue of $35.8 billion. To reduce rising inventory, the Dearborn, Michigan-based automaker temporarily shut five plants this month. Ford's North American sales were down 11 per cent in the quarter, and revenue dropped 8 per cent.

Business

Settlement Assures Compensation And Buybacks For Buyers

They will also receive $5,000 to $10,000 compensation, depending on the car's age. The decision clears away the last obstacles keeping owners of Volkswagen turbodiesel vehicles, caught up in the automaker's self-inflicted emissions cheating scandal, from having their vehicles repurchased as early as next month - November - by the automaker.

Business

Clinton's tax hikes would kill 700000 jobs

And she would change the rules so the tax code would no longer exclude the first $3,000 in earnings in determining whether a family is eligible for the tax break for children of all ages. For example, Clinton has proposed an extension of the short-term capital gains rate on farmland sales that would prolong a higher tax rate over a six-year phase out, while Trump has suggested eliminating the estate tax entirely.

Business

Volkswagen raises earnings outlook as it returns to profit

The device allowed some vehicles to spew out nearly 40 times the permissible levels of harmful nitrogen oxides. Volkswagen on Thursday lifted the provisions it set aside mainly for costs related to the scandal by 400 million euros to 18.2 billion euros.

Business

UK Lobby Group CBI Urges Chancellor to Incentivize Business Ahead of Brexit

It is that consumer confidence has kept the United Kingdom economic show on the road since June's Brexit vote shook business confidence; but that only ramped up public investment and tangible progress on infrastructure improvement - both timescales and shovels in the ground - will give business the confidence to invest and grow in what the CBI calls a climate of "huge uncertainty" since the European Union referendum.

Business

Elon Musk Says Tesla Car-Share Network Is 'the People vs. Uber'

According to Thomson Reuters , Street analysts expect the $31.52 billion company to report $1.76 billion in revenue this quarter. Tesla is phasing out numerous non-GAAP adjustments it has made in the past. In May, Tesla said it had received roughly 373,000 pre-orders for the auto, but has not updated that figure since. Those products are expected to be unveiled Friday.

Business

Twitter cuts 9 percent of its workforce worldwide

Wall Street analysts were expecting the company to earn $0.09 per share on revenue of $605.8 million. "We see a significant opportunity to increase growth as we continue to improve the core service". Adjusted earnings at 13 cents a share beat projections for 9 cents. Twitter's losses and 40 percent fall in its share price the past 12 months have made it more hard for the company to pay its engineers with stock.

Business

Nissan opts to build new auto model in Sunderland

But, Nissan's chief executive Carlos Ghosn had said in September that he could scrap new investment, without a guarantee of compensation for costs related to any new tariffs resulting from Brexit. "It is a recognition that the Government is committed to creating and supporting the right conditions for the automotive industry so it continues to grow - now and in the future.

Business

Wallonia blocks EU/Canada trade deal as crunch talks fail

On Monday, Belgian Prime Minister Charles Michel said the nation was "not in a position to sign CETA" amid the Walloon government, the Brussels government, the government of Federation Wallonia-Brussels and the French Community Commission's calls to renegotiate the deal.

Business

Were Cyrus Mistry's powers curtailed? Tatas will have to answer many question

Tata, 78, who took over the company's top job after Mistry was dimissed on Monday, said on Tuesday that his appointment was temporary to ensure stability until another chairman was appointed. Key Tata Group firms lost over Rs 10,000 crore for the second day on Wednesday, extending the total erosion in market capitalisation to more than Rs 21,000 crore following Cyrus Mistry's ouster as Tata Group chairman.

Business

Otto driverless truck delivers beer in Colorado

Experts said that the earliest applications of autonomous technology will be in self-driving trucks, not cars. A video from the trip showed the driver apparently getting up from the wheel and heading back to the sleeping berth as the vehicle traveled down Interstate 25.

Business

Nissan opts to build new car model in Sunderland

A spokesman for the department told City A.M. that the government "understood the concerns of the industry" and that the decision reflected a real "vote of confidence in the economy", securing a long-term commitment from Nissan to stay in Sunderland.

Business

Volkswagen backbuy plan settled, record US$14.7 billion

Judge Breyer said in regard to this case that the verdict "adequately and fairly compensates" owners impacted by dieselgate, and added: " given the risks of prolonged litigation, the immediate settlement of this matter is far preferable ". It also faces lawsuits from at least 16 USA states for additional claims that could increase the company's overall costs from the scandal. Cars sold from 2009 to 2016 can be repaired or bought back.

Business

Singapore named IEA association country, underlining energy hub status

Pavilion Gas and Shell Eastern Petroleum have been awarded liquefied natural gas importer licenses by Singapore officials, the trade minister said on Monday, Reuters reported. Singapore is the fourth country to join the IEA under the association country initiative after China, Indonesia and Thailand last November. It enables non-member countries to participate in a variety of activities, including IEA standing groups, committees and ministerial meetings.


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