ArcelorMittal reported a third quarter loss of $709 million
Posted on October 31, 2012
Filed under Market
ArcelorMittal reported a third quarter loss of $709 million
ArcelorMittal, the world’s largest steelmaker,which makes 6-7 percent of the world’s steel, reported a third-quarter loss of $709 million as compared to a $659 million profit for the same period a year ago. “This resulted in very challenging operating conditions for ArcelorMittal, which are expected to continue in the fourth quarter,” chief executive Lakshmi Mittal said in a [...]
Hyundai Motors to increase the prices of all its models by up to 5,000 Rs
Posted on October 29, 2012
Filed under Business
Hyundai Motors to increase the prices of all its models by up to 5,000 Rs
Hyundai Motor India Ltd will increase the prices of all its models by up to 5,000 rupees from November 1, the company said in a statement, citing a rise in input costs. “The price increase has been necessitated by a variety of cost push factors like increase in raw material prices and freight increase. We have [...]
Apple net profit at USD 8.2 billion for the fourth quarter
Posted on October 26, 2012
Filed under Market
Apple net profit at USD 8.2 billion for the fourth quarter
Apple Inc has reported 24 per cent jump in net profit to USD 8.2 billion for the July-September quarter driven by higher sales of iPhones. The company’s revenues surged 27 per cent from the year-ago period to USD 36 billion for the fourth quarter ended September 29, 2012. Higher international sales accounted for 60 per [...]
Kingfisher Airlines employees to resume work after after they have promised to be paid
Posted on October 25, 2012
Filed under Business
Kingfisher Airlines employees to resume work after after they have promised to be paid
The Employee strike in Kingfisher Airlines was resolved on Thursday with the employees deciding to resume work with immediate effect, after the management has agreed to pay four months salary dues by December end to the striking . The airlines CEO Sanjay Aggarwal and Engineers’ representative Subhash Chandra Mishra also confirmed the news. Resumption of complete operation make [...]
Zee News Blackmails Naveen Jindal for Rs 100 Crores Controversy
Posted on October 25, 2012
Filed under Business,Featured,Video
Zee News Blackmails Naveen Jindal for Rs 100 Crores Controversy
Jindal Steel chairman Naveen Jindal has filed a complaint and released video proofs against Zee News for allegedly demanding Rs.100 crore worth of advertisements inorder to drop negative stories against him in the Coal Scam. “Sudhir Chaudhary, editor of the group, told our team they will continue to defame us if we did not agree to [...]
Sun TV network buys Hyderabad IPL team
Posted on October 25, 2012
Filed under Business,Cricket
Sun TV network buys Hyderabad IPL team
The Sun TV network won the bid with a 85.05 cr per year for the Hyderabad franchise and piped corporate giants PVP Ventures, who went in with a 69.03 cr per year bid. The BCCI had placed a base price of 300 crore for the new IPL team. The new franchise comes in the shadow of the BCCI terminating the debt-ridden Deccan [...]
Kingfisher staff want four months pay in lumpsum by October 26
Posted on October 24, 2012
Filed under Business
Kingfisher staff want four months pay in lumpsum by October 26
MUMBAI: Prolonging the deadlock over payment of salary dues, Kingfisher Airlines employees today rejected the management’s fresh offer and demanded payment of four months’ backlog in lumpsum before Friday. “The chief executive’s ( Sanjay Aggarwal) claim is grossly incorrect. As a matter of fact, as many as 90 per cent of the employees have outrightly rejected the offer. [...]
Facebook earns $1.26 billion in the third quarter
Posted on October 24, 2012
Filed under Business
Facebook earns $1.26 billion in the third quarter
New York: Facebook,world’s leading social network, with more than a billion users has reported a strong rise in quarterly advertising revenues and said its take from mobile users was gaining as it beat analysts’ earnings forecasts. Facebook shares climbing more than eight per cent in after-hours trade to around $21.14. The company booked a second consecutive [...]
Cairn India- fastest growing energy company in the world
Posted on October 24, 2012
Filed under Business
Cairn India- fastest growing energy company in the world
At the 2012 Platts Top 250 Global Energy Company RankingsTM 12 Indian companies are listed. According to Platts, Cairn India took the top slot as the fastest-growing company not just in Asia but the world. Cairn India with a 119.8 per cent three-year compounded growth rate (CGR) was far ahead in the field. The 2012 [...]
Yahoo Q3 net income rises to USD 3.16 billion on part stake sale in Alibaba
Posted on October 23, 2012
Filed under Business
Yahoo Q3 net income rises to USD 3.16 billion on part stake sale in Alibaba
New York: Yahoo Inc has reported a staggering net income of USD 3.16 billion in the three months ended September 30, 2012 largely due to sale of part of its stake in Chinese e-commerce portal Alibaba Group Holding Ltd. In the year-ago period, the company had a net income of USD 293.29 million, Yahoo said [...]
Kingfisher Airlines promises to clear three months’ salary dues before Diwali
Posted on October 22, 2012
Filed under Business
Kingfisher Airlines promises to clear three months’ salary dues before Diwali
MUMBAI: In a desperate bid to break the 23-day old strike by its employees, Kingfisher Airlines on Monday promised to clear three months’ salary dues before Diwali and regularise monthly payment of salaries from December onwards. The offer though was summarily rejected as the employees contended that the airline should clear atleast four months’ salary upfront. The airline has not paid [...]
L&T reports 42.4 percent rise in net profit at Rs 1,137 crore
Posted on October 22, 2012
Filed under Market
L&T reports 42.4 percent rise in net profit at Rs 1,137 crore
Larsen and Toubro (L&T) on Monday reported 42.4 percent rise in net profit at Rs 1,137 crore for the quarter ended September 30, 2012. The company had posted a net profit of Rs 798 crore for the same period last year. On the back of sharp rise in quarterly profit, shares of L&T settled higher [...]