Money News Headlines

Thu, Nov 20 2014

Kotak bank buys ING Vysya in record $2.4 billion share deal

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MUMBAI - Kotak Mahindra Bank has agreed to buy ING Vysya in an all-share deal valuing its smaller rival at $2.4 billion, bulking up as analysts predict the start of long-awaited consolidation in a crowded banking sector.

Business, Deals 20 Nov 2014

Modi's divide and rule weakens Coal India unions as strike looms

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NEW DELHI - A rift between the five powerful labour unions at Coal India Ltd is set to clear the way for Prime Minister Narendra Modi's government to complete a stake sale in the state company that is critical to hitting budget targets.

Top News, Business 20 Nov 2014

India to allow foreign firms mine and sell coal - coal secretary

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NEW DELHI - India will allow locally registered foreign firms to mine and sell coal when commercial mining is permitted as part of the opening up of the nationalised industry after four decades, Coal Secretary Anil Swarup told Reuters.

20 Nov 2014

U.S. court denies Ranbaxy's bid to block launch of rival generics

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REUTERS - A U.S. court has denied a request by drugmaker Ranbaxy Laboratories Ltd to stop competitors from launching copies of AstraZeneca Plc's heartburn pill Nexium and Roche's antiviral, a court filing showed.

Top News, Business 20 Nov 2014

Financial Tech founder steps down as CEO

MUMBAI - Jignesh Shah has stepped down as chief executive of Financial Technologies, the Indian trading software provider he helped found more than two decades ago that now faces a police investigation over the troubled winddown of a commodity exchange affiliate.

20 Nov 2014

Canpotex signs potash sales deals to India

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WINNIPEG Manitoba - Canpotex Ltd, the offshore sales agency for North America's three biggest potash producers, has agreed on multi-year sales agreements with two Indian fertilizer companies, the government of the Canadian province of Saskatchewan said on Thursday.

Business, Deals 20 Nov 2014

Wall Street edges up after upbeat U.S. data, Intel outlook

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NEW YORK - U.S. stocks edged higher on Thursday afternoon as data showed further strength in the U.S. economy and Intel gave an upbeat forecast.

1:05am IST

Gold rises as price drop tempts physical buyers

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NEW YORK/LONDON - Gold rose on Thursday on data showing rising U.S. inflation, and after the previous day's 1-percent drop triggered renewed physical interest by price-sensitive Asian buyers.

12:57am IST

JM Financial subsidiary gets $87 mln from Vikram Pandit-led fund

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MUMBAI - JM Financial Ltd said it had received an investment of 5.4 billion rupees ($87 million) in its real estate-lending subsidiary from a global fund led by former Citigroup chief executive Vikram Pandit.

20 Nov 2014

Infosys unit's overbilling Apple led to exit of top execs - sources

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REUTERS - Outsourcing major Infosys Ltd's back-office services unit was overcharging Apple Inc, leading to the exit of top executives, two senior Infosys people said on Thursday.

Business, Tech 20 Nov 2014