Money News Headlines

Tue, Oct 6 2015

Starbucks rival to launch India's biggest IPO in 3 years next week


MUMBAI - The company behind Cafe Coffee Day, India's biggest coffee chain, will launch an initial public offering next week, aiming to raise up to $176 million in the country's biggest IPO in nearly three years.

Business, Top News 06 Oct 2015

Samsung Elec sees Q3 profit boost despite smartphone woes


SEOUL - Samsung Electronics Co Ltd on Wednesday said it would post its first quarterly profit gain in two years, beating expectations as strong sales of chips and displays probably offset weakness in its smartphone division.

Tech, Business 8:50am IST

Risking backlash, Modi to push power price hikes


NEW DELHI - Prime Minister Narendra Modi is to tell states to raise electricity prices in return for access to a financial bailout package, a politically contentious move that risks a backlash from farmers and consumers long used to free or cheap power.

Top News, Business 06 Oct 2015

Asian shares firm after sharp rebound in oil, BOJ in focus


TOKYO - Asian stocks held firm on Wednesday as oil prices showed some signs of life, supporting battered resource shares and emerging economy currencies, while Japanese markets were tentative ahead of a crucial Bank of Japan policy meeting.

Business, Japan 8:21am IST

IMF sees favourable growth in India, urges structural reforms


NEW DELHI - Growth prospects for India remain favourable despite a slowdown in the global economy, but the government should speed up structural reforms and relax supply constraints in the energy, mining, and power sectors, the International Monetary Fund said on Tuesday.

Top News, Business, IMF 06 Oct 2015

VW CEO says recall to start in January, be completed end-2016


BERLIN - Volkswagen Chief Executive Matthias Mueller said in an interview with a German newspaper that the company would launch a recall for cars affected by its diesel emissions crisis in January and complete the fix by the end of next year.

3:49am IST

Gold inches higher on expectations of U.S. rate hike delay


SINGAPORE - Gold rose towards its highest in nearly two weeks on Wednesday, as more sluggish U.S. economic data supported views that the Federal Reserve would delay a rate hike to next year.

9:26am IST

Oil jumps $2, breaking range as supply seen ebbing


NEW YORK - Oil prices jumped more than $2 a barrel on Tuesday, breaking out of a month-long trading range on technical buying and industry talk as well as U.S. government data suggesting the global supply glut could be ebbing.

3:03am IST

Obama makes pitch to win support for Pacific trade pact


WASHINGTON - U.S. President Barack Obama kicked off a sales pitch on Tuesday for a 12-nation Pacific Rim trade agreement, urging farmers to push their lawmakers to approve what he said would boost their sales in a fast-growing region.

4:42am IST

India hopes to roll out goods and services tax in 2016 - Modi


BENGALURU - India hopes to roll out a new goods and services tax (GST) in 2016, Prime Minister Narendra Modi said on Tuesday in a speech to Indian and German businesses that played up the attractiveness of investing in Asia's third-largest economy.

Top News, Business 06 Oct 2015