Money News Headlines

Strong India rupee stings Modi's export ambitions

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NEW DELHI - Ajit Lakha, who runs a mid-sized garment export business in the north Indian textile hub of Ludhiana, prays daily before leaving for work that the rupee will weaken and the euro recover to cut the losses he is taking on his overseas sales.

Business, Top News 2:36am IST

Sun, Apr 26 2015

Ratan Tata buys stake in Chinese phone maker Xiaomi

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MUMBAI - Ratan Tata, chairman emeritus of the holding company of the Tata conglomerate, has acquired a stake in Xiaomi Technology, a deal that is likely to bolster the Chinese phone maker's presence in the world's third-largest smartphone market.

Top News, Business, Tech 26 Apr 2015

India starts up 300,000 bpd Paradip refinery - sources

NEW DELHI - Indian Oil Corp , the country's biggest refiner, on Sunday began crude processing at its 300,000 barrel per day (bpd) Paradip refinery and aims to fully commission the plant in six months, two company sources said, potentially adding to the glut of oil products in the region.

26 Apr 2015

Fri, Apr 24 2015

Parliament kicks off debate on GST

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NEW DELHI - India's parliament began debating the goods and service tax (GST) on Friday that seeks to transform the country into a common market, but experts said compromises made to enlist the support of states risked diluting the impact of the biggest tax reform in decades.

Business, Top News 24 Apr 2015

SBI's up to $2.4 billion share sale likely in June - sources

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MUMBAI - State Bank of India's plan to raise up to 150 billion rupees ($2.4 billion) via a share sale will now likely take place in June instead of April due to a fall in the lender's stock price, three sources directly involved in the process told Reuters.

Top News, Business 24 Apr 2015

Sun, Apr 26 2015

Newsmaker - Ruthless VW patriarch Piech overplays last hand

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FRANKFURT - Ferdinand Piech's iron-fisted rule over Volkswagen helped him build an empire spanning fuel-efficient city cars to 40-tonne trucks, but in the end he overplayed his hand and was forced out before reaching his goal of making VW the world's biggest carmaker.

26 Apr 2015

Deutsche Bank Q1 profit falls by half as legal charges bite

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FRANKFURT - Deutsche Bank's earnings fell by half in the first quarter, a greater-than-expected drop as hefty legal charges eroded gains in investment banking revenue, while it prepares to unveil details of a strategic overhaul.

Business, Deals 26 Apr 2015

If Greece falls, no one wants their prints on the murder weapon

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BRUSSELS - "We're going bust." "No, you're not." "You're strangling us." "No we're not." "You owe us for World War Two." "We gave already."

26 Apr 2015

Cuts to pay and perks trigger flight from China's state banks

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SHANGHAI/HONG KONG - Bankers at China's top state lenders are quitting in increasing numbers because of cuts to their pay and perks, and moving to a new breed of financial firms such as leasing companies, trusts and online platforms, bankers and headhunters say.

26 Apr 2015

Like shale oil, solar power is shaking up global energy

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SINGAPORE/TOKYO - One by one, Japan is turning off the lights at the giant oil-fired power plants that propelled it to the ranks of the world's top industrialised nations. With nuclear power in the doldrums after the Fukushima disaster, it's solar energy that is becoming the alternative.