New ITC chairman Puri to strengthen market leadership

Aims to build on ‘outstanding legacy’ The board of directors of ITC Ltd., appointed Sanjiv Puri, managing director, as also the chairman of with effect from May 13, 2019. Consequently, Mr. Puri’s new designation is chairman and managing director. He would thus fill in the void created by the demise of Y. C. Deveshwar on… Continue reading New ITC chairman Puri to strengthen market leadership

How is India driving to electric mobility?

Why the country is targeting smaller vehicles in the quest to have 30% electric transport by 2030 The story so far: On Monday, Ola Electric Mobility Pvt. Ltd. said in a statement that Ratan Tata, Chairman Emeritus of Tata Sons, had invested an unspecified amount to support its ambitions to scale up electric vehicle deployment… Continue reading How is India driving to electric mobility?

Cannabis companies failed their first big test, now they have a second chance

After the first nearly full quarter of recreational cannabis sales, the world’s largest pot producers had a shot to prove they belonged among blue-chip stocks. They mostly failed. For a sector crawling toward legitimacy, the first crop of recreational cannabis earnings did little to dispel longstanding clichés about those involved in the industry. Earnings were… Continue reading Cannabis companies failed their first big test, now they have a second chance

IOB to return to black soon: CEO

Lender curbs fresh slippages, makes ‘huge recoveries’ Indian Overseas Bank (IOB), which reported a 45% decline in its net loss for the fourth quarter ended March 2019 to ₹1,985.16 crore, will return to the black in the next quarter, according to a top bank official. “By June 2019, the bank’s balance sheet would have turned… Continue reading IOB to return to black soon: CEO

Elf stock falls 14% after company swings to surprise loss

Shares of Elf Beauty Inc. ELF, +1.06% tanked in the extended session Wednesday after the cosmetics company reported a surprise loss in the January-to-March period and adjusted earnings came below Wall Street expectations. Elf said it lost $17.9 million, or 37 cents a share, in the period, versus earnings of one penny a share in… Continue reading Elf stock falls 14% after company swings to surprise loss

Disney earnings beat, but movie revenue falls ahead of ‘Endgame’ windfall

Walt Disney Co. handily beat earnings expectations even after stripping out big gains from an acquisition in a quarterly report Wednesday, but movie-studio revenue slipped ahead of a coming windfall. Disney DIS, +1.16% stock has been trading at record highs in the past month, as the company provided long-awaited details about its Disney Plus streaming service… Continue reading Disney earnings beat, but movie revenue falls ahead of ‘Endgame’ windfall

Google unveils new privacy tools, smarter AI assistant, cheaper phones

MOUNTAIN VIEW, Calif. — Google announced new privacy tools Tuesday intended to give people more control over how they’re being tracked on the go or in their own home, part of a broader effort by big tech companies to counter increasing scrutiny of their data collection practices. The company also announced updates for its artificially… Continue reading Google unveils new privacy tools, smarter AI assistant, cheaper phones

B2B tech start-ups treble in 5 years: study

Driven by a spurt in the need for digital transformation of enterprises, financial institutions and SMEs Business-to-business (B2B) technology start-ups have more than trebled in the last five years driven by the spurt in the need for digital transformation of enterprises, financial institutions, hospitals, government and small and medium enterprises (SMEs), among others. While the… Continue reading B2B tech start-ups treble in 5 years: study

Cannabis stocks weighed down by broader market, but Aleafia and GW Pharma shine

Cannabis stocks were mostly lower Tuesday, weighed down by weakness in the broader market after U.S. officials said tariffs on imported goods from China could be raised by the end of the week. “The cannabis market is highly correlated to the overall equity market at this point,” said Korey Bauer, portfolio manager of the Cannabis… Continue reading Cannabis stocks weighed down by broader market, but Aleafia and GW Pharma shine

Microsoft offers free software tools to make voting secure, verifiable

Microsoft has announced an ambitious effort it says will make voting secure, verifiable and subject to reliable audits. Two of the three top U.S elections vendors have expressed interest in potentially incorporating the open-source software into their proprietary voting systems. The software kit is being developed with Galois, an Oregon-based company separately creating a secure… Continue reading Microsoft offers free software tools to make voting secure, verifiable

What Pinterest is hiding, and why it may get in the way of a higher stock price

Pinterest Inc. appears on track to start making real money like Twitter Inc., but a lack of transparency around the business may make it hard for investors to follow that narrative. That’s according to Susquehanna Financial Group analyst Shyam Patil, who initiated coverage of Pinterest shares PINS, +3.17% with a neutral rating on Monday. In a… Continue reading What Pinterest is hiding, and why it may get in the way of a higher stock price

Boeing kept quiet about 737 Max safety-alert problem for about a year

Boeing Co. didn’t share information about a problem with a cockpit safety alert for about a year before the issue drew attention with the October crash of a 737 Max jet in Indonesia, and then gave some airlines and pilots partial and inconsistent explanations, according to industry and government officials. It was only after a… Continue reading Boeing kept quiet about 737 Max safety-alert problem for about a year

Lupin, Zydus Pharmaceuticals recall products in the US

Lupin Somerset is recalling the drug in various strengths due to “failed impurities/degradation specifications”, the latest enforcement report by the US Food and Drug Administration (USFDA) said. Drug major Lupin is recalling 46,700 bottles of Morphine Sulfate extended-release tablets, used to treat severe pain, in the US market, according to a report by the US… Continue reading Lupin, Zydus Pharmaceuticals recall products in the US

Tesla’s infotainment dashboard screen tops Consumer Reports ratings

The infotainment system in Tesla Inc. vehicles topped a Consumer Reports satisfaction survey, with owners rating it highly in audio, calling, and navigation functions, the organization said Wednesday. Display screens are increasingly prevalent, Consumer Reports said, citing IHS Markit data saying that 82% of vehicles sold this year came with a touch screen, up from… Continue reading Tesla’s infotainment dashboard screen tops Consumer Reports ratings

ING profit falls on higher costs, loan provisions

ING Groep NV (INGA.AE) said Thursday that its first-quarter profit fell after higher costs and provisions for bad loans outweighed a rise in income. The Dutch lender made a net profit of 1.12 billion euros ($1.26 billion) for the quarter, down 8.7% from the year-earlier period. Underlying pretax profit fell 6.2% to EUR1.58 billion. Chief… Continue reading ING profit falls on higher costs, loan provisions

Omaha Beach, the Kentucky Derby favorite, scratched from race

LOUISVILLE, Ky. — Favorite Omaha Beach was scratched from the Kentucky Derby because of a breathing problem Wednesday night. Trainer Richard Mandella told The Associated Press the colt developed a cough and a subsequent veterinary exam showed Omaha Beach has an entrapped epiglottis. It’s generally not life- or career-threatening and is typically corrected with minor… Continue reading Omaha Beach, the Kentucky Derby favorite, scratched from race

Apple is optimistic, and it isn’t because of the iPhone

As the iPhone goes, so goes Apple Inc., but maybe not for much longer. The vast majority of Apple’s AAPL, -1.93% revenue comes from sales of its smartphones, but as smartphone sales have stagnated, Apple has had to look elsewhere for growth. So far, the results in this fiscal year haven’t been great: Apple revenue declined… Continue reading Apple is optimistic, and it isn’t because of the iPhone

AMD stock rallies after hours as earnings top Wall Street estimates

Advanced Micro Devices Inc.’s stock surged in the extended session Tuesday after the chip maker topped Wall Street estimates for the quarter. AMD shares rallied 5% after hours, following a 0.2% decline to close the regular session at $27.63. In comparison, the PHLX Semiconductor Index SOX, +0.76% closed up 0.8%, the S&P 500 index SPX, +0.10%… Continue reading AMD stock rallies after hours as earnings top Wall Street estimates

Repsol profit slips on tough downstream conditions

Repsol SA’s (REP.MC) first-quarter earnings fell slightly on year, largely as a result of tough conditions for its downstream units, the company said Tuesday. The Spanish energy group said net profit in the first quarter fell to 608 million euros ($678.8 million) from EUR610 million a year earlier. On an adjusted basis, profit rose 6%… Continue reading Repsol profit slips on tough downstream conditions

Burger King to take meatless ‘Impossible Whopper’ national later this year

Burger King parent Restaurant Brands International Inc. plans to launch its meatless “Impossible Whopper” nationwide later this year, the fast-food company’s Chief Executive Jose Cil said on the company’s first-quarter earnings call. Cil said the company QSR, -1.44% is “encouraged” by the feedback from the test, which is taking place in St. Louis, and will… Continue reading Burger King to take meatless ‘Impossible Whopper’ national later this year

Wirecard 2018 revenue, earnings jump

Wirecard AG (WDI.XE) confirmed its guidance for the year after reporting a significant increase in 2018 revenue and after-tax profit. After-tax profit rose almost 36% to 347.4 million euros ($388.8 million) while revenue grew by roughly 35% to EUR2.02 billion, the German payments-processing company said Thursday. Wirecard proposed a dividend of EUR0.20 per share, up… Continue reading Wirecard 2018 revenue, earnings jump

Maruti hikes prices of Baleno diesel range, Baleno RS petrol

Maruti Suzuki India did not give any reason for hiking the prices with immediate effect Maruti Suzuki India (MSI) on Thursday said it has increased prices of Baleno diesel range and RS petrol variant by up to ₹15,000 (ex-showroom) with immediate effect. The Baleno RS, which comes with a 1 litre booster jet petrol engine,… Continue reading Maruti hikes prices of Baleno diesel range, Baleno RS petrol

RBI swap auction gets bids more than thrice the notified amount

RBI announces ₹25,000 cr. bond purchases; ‘liquidity deficit is at over ₹1 lakh cr.’ The second dollar-rupee buy/sell auction also saw healthy demand with the Reserve Bank of India getting 255 bids worth $18.65 billion compared with the notified amount of $5 billion. Dealers said high cut-off premium indicated banks mostly stayed away but companies… Continue reading RBI swap auction gets bids more than thrice the notified amount

Leather exports rise 8% in FY19

Though growing in rupee terms, shipments have remained static in dollars India registered about 8% growth in export of leather, leather products and footwear during 2018-19 and is aiming to achieve 9% to 10% growth during the current fiscal, said a top industry body official. “In rupee terms, exports during 2018-19 grew to ₹36,562.34 crore… Continue reading Leather exports rise 8% in FY19