Money News Headlines

Tue, Sep 2 2014

Sensex surges past 27,000 to third consecutive life high

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MUMBAI - The BSE Sensex on Tuesday surged past the psychologically key level of 27,000 to a third consecutive record high as blue-chips such as HDFC Bank gained after recent data raised hopes about the economy.

02 Sep 2014

Malaysia's Maxis denies wrongdoing after police charges

MUMBAI - Malaysia's Maxis Communications Bhd, charged by Indian police in a telecoms scandal, denied any wrongdoing and said it would "vigorously" pursue all available legal remedies to defend itself and one of its directors.

Business, Top News 02 Sep 2014

Mumbai hit by big power cuts after technical glitch at Tata Power unit

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MUMBAI - Power cuts hit large areas of Indian financial capital Mumbai on Tuesday following a technical glitch at an electricity generation unit, but back-up generators at banks and brokerages ensured that financial business was largely unaffected.

Top News, Business 02 Sep 2014

Rupee sees biggest fall in three weeks on broad dollar gains

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MUMBAI - The rupee weakened for a fourth consecutive session on Tuesday, dropping the most in three weeks, tracking weaker Asian currencies amid caution ahead of key events including a European Central Bank meeting and U.S. monthly jobs data.

02 Sep 2014

Wall St ends mixed, energy shares fall

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NEW YORK - U.S. stocks ended mostly lower on Tuesday, retreating from records set the previous month, as falling crude oil prices dragged energy shares down and offset strong manufacturing data.

3:33am IST

Pakistan's promises to IMF in doubt as protests sap economy

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ISLAMABAD - Anti-government protests that have gripped Islamabad since mid-August could throw off course economic reforms Pakistan promised to deliver in return for an IMF bailout, senior officials said, raising the risk of a sovereign rating downgrade.

Economy, Business, South Asia 02 Sep 2014

Gold hits 2-1/2 month low as equities, dollar strengthen

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LONDON - Gold fell to its lowest in 2-1/2 months on Tuesday, breaking through key support at its August lows as stock markets rose and the dollar hit a one-year high against the euro ahead of a European Central Bank meeting this week.

02 Sep 2014

Exclusive - Burger King has maneuvered to cut U.S. tax bill for years

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LONDON - Burger King may have taken a lot of flack in the past week for a deal that should curb its U.S. tax bill but in many ways it is consistent with the burger chain’s aggressive tax-reduction strategies in recent years.

02 Sep 2014

Basel III deposit challenge looms over Islamic banks

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- As banks around the world gear up to meet tough Basel III regulatory standards, Islamic lenders face a source of uncertainty that could prove expensive for them: how regulators will treat their deposits.

02 Sep 2014

Insider traders in U.S. face longer prison terms, Reuters analysis shows

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NEW YORK - U.S. judges are imposing increasingly long prison terms for insider trading, a Reuters analysis shows. The rise is at least partly driven by the bigger profits being earned through the illegal schemes, defense lawyers said.

02 Sep 2014