Corporates

Kolkata | May 18, 2013 14:11 (IST)

ONGC said it is keen on foraying into unconventional gas sources like shale gas and would bid for blocks once the government put in place a national policy.

Brussels | May 18, 2013 14:01 (IST)

Tata Steel, the second largest steel producer in Europe, supports proposals to use EU funds to soften the blow of steel plant closures, regional chief executive Karl-Ulrich Kohler said.

New York | May 18, 2013 12:20 (IST)

Yahoo may be on the verge of closing its biggest acquisition during the 10-month reign of CEO Marissa Mayer as she tries to attract more traffic and advertisers to the internet company's website and mobile applications.

New Delhi | May 17, 2013 21:10 (IST)

Czech car maker Skoda is considering stopping production of hatchback Fabia in India as it gears up to introduce new models here.

New Delhi | May 17, 2013 19:18 (IST)

Hero Cycles said on Friday that it will set up two new plants by 2014 entailing an investment of up to Rs 200 crore and is also close to picking up stake in two firms in Europe as part of its international expansion.

New Delhi | May 17, 2013 17:17 (IST)

IT solutions provider NIIT Technologies on Friday reported a 22 per cent increase in its net profit at Rs 56.6 crore for the quarter ended March 31, 2012, backed by all-round growth especially in the travel vertical.

May 17, 2013 13:34 (IST)

Internet retailer Amazon.com Inc. will be called back to the British parliament to clarify how its activities in the UK justify its low corporate income tax bill, two lawmakers told Reuters.

May 17, 2013 13:26 (IST)

ITC, India's biggest cigarette maker, has reported higher than estimated profit for the January to March quarter on account of strong performance by the tobacco vertical and a turnaround in the FMCG sector.

May 17, 2013 13:00 (IST)

Overtaking Apple Inc as the world's leading maker of smartphones has stretched Samsung Electronics Co's in-house supply lines, and the South Korean firm is now courting some of its rival's main parts suppliers.

Amsterdam | May 17, 2013 12:30 (IST)

The bank, which on Friday posted first-quarter results hit by bad loans in its home market, said the cuts are part of a reorganisation of its commercial and merchant banking division and will mostly be through natural attrition and reallocation.

May 17, 2013 11:54 (IST)

Apple Inc CEO Tim Cook will propose tax changes that would encourage firms to bring home more of their offshore funds when he faces congressional queries next Tuesday over his company's overseas cash holdings and tax bills, the Washington Post reported.

May 17, 2013 11:29 (IST)

The Competition Appellate Tribunal (COMPAT) has asked 11 cement companies, which were together asked to pay a penalty of Rs 6,000 crore by the Competition Commission of India in June 2012, to pay Rs 630 crore or as penalties within the next four weeks.

May 17, 2013 10:17 (IST)

India's biggest cigarette maker, ITC may beat Jan-March earnings consensus forecast when it reports results later in the day, according to Thomson Reuters StarMine data.

May 17, 2013 08:25 (IST)

Vikram Pandit abruptly stepped down as CEO of Citigroup on Tuesday, surprising Wall Street, after steering the bank through the 2008 financial crisis and the choppy years that followed. Mr Pandit will also relinquish his seat on Citi's board of directors.

May 17, 2013 08:19 (IST)

Former Citigroup Chief Executive Vikram Pandit is buying a stake in financial services company JM Financial Ltd, JM Financial said in a statement on Thursday.

May 16, 2013 23:04 (IST)

Vedanta group firm Cairn India will invest $3 billion (over 16,000 crore) in the next three years to expand its oil and gas production in the country, a top company official said today.

May 16, 2013 22:51 (IST)

Private sector lender ICICI Bank today said its Canadian subsidiary has repatriated Canadian dollars 75 million (about Rs 400 crore) of capital back to the parent.

May 16, 2013 22:44 (IST)

Vedanta Resources today said its offer to buy out government stakes in Hindustan Zinc and Bharat Aluminium Company (Balco) for which it is awaiting the response will be "windfall" for all stakeholders.

May 16, 2013 22:40 (IST)

Gujarat State Fertilisers and Chemicals (GSFC) today reported 75 per cent decline in the net profit at Rs 58.44 crore for the fourth quarter ended March on account of higher expenses.

May 16, 2013 22:36 (IST)

Welspun India, part of the $3.5 billion Welspun Group, today reported a net profit of Rs 53.82 crore for January-March quarter of 2013 against that of Rs 42.42 crore earned in the same period last year.