Business Fwire News - Page 29
Ford India faces labour unrest
The company found that the nine employees had submitted bogus medical bills and they were dismissed.
Mahindra Satyam's Aus unit plans $50-100 mn acquisitions
After the merger with Tech Mahindra is completed, 80% of the employees would cater to Australian customers, & it would have 2,250 staff in Australia and New Zealand
No salary for Etisalat DB staff till court clears winding up
This will affect around 600 employees of the company
Court appoints provisional liquidator for Dunlop India
The unsecured creditors have filed a number of petitions before the high court seeking liquidation of the company.<br /><br />
Maintain service quality: TRAI to operators
Last month, the Supreme Court ordered cancellation of 122 licences issued in 2008 and asked the affected firms to shut shops in four months.
Coal India's 180 mining projects awaiting nod
In January, company's then chairman NC Jha had said that 168 such proposals, including 67 new projects, of the CIL are awaiting to be cleared.
Honda resumes partial production in Thailand post 2011 floods
Last year HSCI's production was badly hit by components supply constraints due to tsunami in Japan, followed by the Thailand flood. I
Warburg's Kotak Mahindra Bank stake sale to raise Rs 1,400 cr
The stake sale, the latest among a slew of such deals this year on the back of a surge in the Indian stock markets, marks the exit of Warburg Pincus from Kotak Mahindra Bank
South Korea, Turkey sign free trade deal
The ministry said that all the tariffs on goods will be eliminated within seven years after implementing the deal, noting that the zero-tariff deal will increase the bilateral cross-border trades significantly.
Yahoo names three new independent directors
Yahoo Inc has appointed three new independent directors as it prepares for a proxy fight with activist hedge fund investor Daniel Loeb.
Volvo recalls 12,000 cars in China
Volvo Cars is recalling 12,798 of its 2012 model year vehicles imported into China, the top Chinese quality regulator said, in order to prevent potential fuel leaks and to fix faulty wiring that could cause airbag failure.
Nokia Siemens to cut 1,600 jobs in Germany
Nokia Siemens on Friday reached a deal with German unions to cut 1,600 jobs in Munich, part of the telecom equipment maker's ongoing restructuring programme, which includes 17,000 job losses globally.
Govt approves iron ore exports to Japan, South Korea
The new contracts, to be implemented through long-term agreements, will be valid till March 2015.
IRDA norms to reduce losses of car insurers
As per the notification, no comprehensive motor insurance policy can be settled from the pool, which will reduce the overall corpus of the third party pool.
IOC aska govt to reimburse Rs 2,000 cr of petrol under recoveries
It will have to raise petrol prices if under recoveries are not reimbursed.
Ministries, departments owe Rs 57 cr to Air India
The amount owed to Air India is from different ministries and departments.
Air passenger traffic may double in 2017-18: Singh
The private sector is likely to contribute Rs 50,000 crore in the 12th Five Year Plan to the aviation sector.
Air India rubbishes flight cancellation rumours due to cabin crew strike
Air India said that there were no disruptions or cancellation of flights operating on international sectors. All flights from Mumbai and Delhi were operated as per schedule.
Ericsson raises stake in LG JV to capture Korean mkt
Ericsson bought bankrupt Nortel Networks' controlling stake in the venture with LG Electronics for $242 million in 2010 to gain a foothold in Korea.
IOC seeks 60,000 tonnes of diesel as demand rises
Diesel demand in India has been growing steadily as the number of diesel-powered cars increases due to a widening gap between the price of petrol and heavily subsidised diesel.
McDonald's CEO Jim Skinner to Retire ?
In what analysts expected to be a smooth transition, Chief Operating Officer Don Thompson, will succeed Skinner as the CEO of McDonald.
Jaguar Land Rover signs JV with China's Chery Automobile
The joint venture will manufacture Jaguar Land Rover and JV-branded vehicles and engines, set up a research and development facility, and sell vehicles produced by the JV.
Maruti to take a call on Gurgaon diesel plant in 2 months
MSI manufactures all the petrol engines at its Gurgaon plant and has an annual capacity of over eight lakh units.However, demand for diesel cars have soared in India as petrol is priced much higher than the government subsidised diesel.
Delhi HC restrains coercive steps against RPower's AP project
Reports had said earlier that four state governments had slapped a fine of Rs 400 crore on the company's unit for delays in setting up the power project
Nissan to sell low-cost cars in India under Datsun brand
Japan's No.2 automaker, Nissan, on Tuesday announced the revival of the Datsun brand, starting in India, Indonesia and Russia from 2014.
Templeton to raise $300 mn for Asia investments
The fund, which will have a six-year lifespan like previous funds, will have a sub-tranche for Asia investments, Managing Director Ong Tek Khoan told Reuters.
Starbucks goes beyond coffee with first juice bar
With Starbucks yet to detail how many juice bars it plans to open, the popularity of its first shop, located in an upscale shopping area in Bellevue, Washington, an affluent city just east of Seattle, will be closely watched.
UPS's international footprint to grow with TNT deal
UPS will become the market leader in Europe and also gain access to TNT's stronger networks in the fast-growing Asian and Latin American markets.
Adobe revenue slows ahead of upgrades, shares fall
Adobe Systems Inc, maker of Photoshop and Acrobat software, said revenue growth slowed as sales of its widely used Creative Suite software fell, missing its forecasts, ahead of widely anticipated product launches this quarter.
TRAI moves court against Loop Mobiles on number portability
The TRAI has sought Chief Metropolitan Magistrate Vinod Yadav's direction to summon and prosecute Loop Mobiles for rejecting subscribers' requests for number portability.