India rules out lowering sugar import tax for now - govt source
NEW DELHI India, the world's biggest sugar consumer, has no plan to lower import duty on the sweetener, at least in the near term, a government official said on Thursday.
NEW YORK Eastman Kodak Co reported a far larger-than-expected loss and a 25 percent drop in revenue for the fourth quarter on weakness in digital sales and licensing.
The photography and printing company's revenue fell to $1.93 billion, missing the analysts' average forecast of $2.11 billion, according to Thomson Reuters I/B/E/S.
Kodak cited a 25 percent decline in digital revenue. Revenue at its consumer digital imaging group, which includes the licensing portfolio, fell almost 40 percent to $731 million.
The results come after a U.S. International Trade Commission judge determined on Monday that a Kodak patent claim against Apple Inc and Research in Motion Ltd is invalid. Kodak filed the complaint in January, claiming Apple's iPhone and RIM's camera-enabled Blackberry infringe its patent on a method for previewing images.
Kodak reported fourth-quarter earnings of $33 million, or 12 cents per share, from continuing operations, compared with $430 million, or $1.36 per share, a year earlier.
Excluding one-time items, the company reported a loss of 37 cent per share, missing analysts' estimates of a 2-cent loss.
Shares of Kodak were unchanged at $4.52 in trading before the market opened.
(Reporting by Jennifer Saba; Editing by Lisa Von Ahn)
NEW DELHI Some Indian officials have baulked at Apple's demands for concessions before it assembles iPhones there, raising doubts about a spring deadline to launch a key project in Prime Minister Narendra Modi's campaign to lure foreign investors.
LONDON Lloyd's of London said on Thursday it received final regulatory approval for its reinsurance branch in India and will open in time for April reinsurance renewals.