Tag Archives: as

L&T Finance net soars 49% as advances surge

L&T Finance Holdings, financial services arm of the engineering major L&T, today reported consolidated net profit growth of 49 per cent at Rs 309 crore for the three months to June driven by higher advances that clipped at 96.4 per cent and better asset quality. This is the fifth consecutive successful quarter for the company after many quarters of headwinds ... Read More »

L&T Finance net soars 49% as advances surge

MUMBAI, JUL 26:   L&T Finance Holdings, financial services arm of the engineering major L&T, today reported consolidated net profit growth of 49 per cent at Rs 309 crore for the three months to June driven by higher advances that clipped at 96.4 per cent and better asset quality. This is the fifth consecutive successful quarter for the company after many ... Read More »

Australia economy back in the groove as full-time work rebounds

Australia’s labor market strengthened for a fourth month in June led by a remarkable comeback in full-time jobs — an upbeat outcome that could bring nearer the day when the country’s central bank starts considering a rate hike. The data will offer much-needed relief to the Reserve Bank of Australia (RBA) which has been fretting over a “mixed” jobs performance while ... Read More »

UK banks ordered to hold more capital as consumer debt surges

The Bank of England has warned against spiralling consumer borrowing. Photograph: Maxim Zmeyev/Reuters The Bank of England is to force banks to strengthen their financial position in the face of a rapid growth in borrowing on credit cards, car finance and personal loans. The intervention by Threadneedle Street means banks will need to set aside as much as £11.4bn of ... Read More »

Dow halts 4-session skid, but Nasdaq slumps as technology stocks stumble

The Dow industrials on Monday ended a string of daily losses at four, but the Nasdaq Composite faltered, putting pressure on the broader market. The Dow Jones Industrial Average DJIA, +0.07%  rose 14.79 points, or less than 0.1%, at 21,409.55. The Nasdaq Composite Index COMP, -0.29%  shed 18.10 points, or 0.2%, to 6,251 as Apple Inc. AAPL, -0.31%  dropped 0.3%, ... Read More »

Asia Stocks Firm As Upbeat US, European Data Boosts Confidence

Japan’s Nikkei gained 1 percent to top the psychologically important 20,000-point level. Tokyo: Asian stocks edged up on Friday and the dollar bounced from recent lows as upbeat data on U.S. manufacturing and employment and buoyant European factory growth boosted investor optimism. MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up 0.1 percent, while Japan’s Nikkei gained 1 percent ... Read More »

Swedish Firms Give India Thumbs Up As A Favorable Business Destination

India was seen as a favourable business destination by a majority of Swedish companies. The embassy of Sweden in India and the Swedish Chamber of Commerce came out with the 9th edition of their Business Climate Survey report for India on Wednesday. The Business Climate Survey that reflect the views of some of the biggest names in the industry like ... Read More »

Nasdaq, S&P eke out record close as stocks finish week with strong gains

Stocks closed mixed on Friday ahead of the Memorial Day holiday weekend and digested key economic data. “I think the market is just taking a breather to figure things out,” said Aaron Jett, vice president of global equity research at Bel Air Investment Advisors. But “I don’t think the market is going to make a significant move lower because the ... Read More »

Cipla puts biosimilar business on backburner as part of business rationalisation

Drug maker Cipla said it will stop plans to manufacture biosimilar drugs in-house as part of company-wide restructuring that involves exiting non-core and low profit businesses. “We realised that manufacturing (of biotech drugs) is not important,” said Umang Vohra, Managing Director and Global Chief Executive Officer of Cipla. “There are enough efficiencies in the biotech system outside of our own,” ... Read More »

Large-scale solar industry takes off as 12 new plants secure finance

Broken Hill solar farm. Twelve new plants awarded grants by the Australian Renewable Energy Agency are now in the pipeline. Photograph: Josh Wall/Guardian Australia Australia’s large-scale solar industry now appears to be on solid ground, with all 12 plants recently awarded grant funding by the Australian Renewable EnergyAgency reaching “financial close” this month. That means they are fully financed and ... Read More »