The rupee opened 6 paise higher at 71.27 against the US dollar on Thursday. Minutes later, the currency recovered further to 71.20.

In the previous session, the domestic unit snapped its three-day losing streak and settled 11 paise higher at 71.33 on increased selling of the American currency by exporters and banks.

Stockholm: Volvo Cars, which is owned by China's Zhejiang Geely Holding Group, is voluntarily recalling about 200,000 cars after it found an engineering issue that could potentially cause fuel leakage in the engine compartment over time.

The group said its probe had identified that some vehicles may have small cracks inside one of the fuel lines in the engine compartment, which along with a pressurised fuel system may over time lead to fuel leakage in the engine compartment.

MUMBAI: Refining business that has traditionally done the heavy-lifting at Reliance Industries Ltd (RIL) is catching its breath, thanks to weak global demand and higher exports by the US and China. Until new shipping norms mandating higher-quality fuel take effect next year, conditions are not expected to improve much either.

TVS Motor on Tuesday reported a 16% year-on-year (y-o-y) rise in its net profit to Rs 178.39 crore for the three months to December, 2018. The growth in the bottom line was driven by 26% year-on-year rise in revenues to Rs 4,664 crore which in turn was driven by 19% y-o-y increase in volumes.

However, the operating profit margins shrank 7 bps year-on-year to 8.1%, impacted by an increase in the share of raw materials to revenue of 400 bps y-o-y.

In a clarification to reports that Raymond had received a show cause notice from the Securities and Exchange Board of India (Sebi) for alleged security market violations, the company on Tuesday told the stock exchanges that the notice was related to matters, which are “procedural and technical in nature”. The company is working with the legal advisors to resolve the issues, it added.

Mumbai: State Bank of India’s (SBI) latest effort to sell loans given to Essar Steel Ltd has stalled, as potential buyers baulk at the bank’s demand for a pound of flesh from the same loan’s bankruptcy resolution.

According to three people aware of the matter, the sale of Essar Steel loans worth ₹15,431 crore comes with a precondition that caps the profit a winning bidder can make through bankruptcy resolution at 18%; the difference accruing from any higher profit must go to SBI.

Benchmark equity indices started on a cautious note, staging a moderate recovery in early trade Wednesday, following tepid sentiment in other Asian markets.

A stronger rupee against the dollar and easing crude prices also influenced market sentiment.

Real estate developer Lodha Group's subsidiary Lodha Developers International has announced a buyback programme for its senior dollar denominated bonds that are due in the year 2020.

For the buyback transaction, Lodha Developers International has entered into an arrangement with J P Morgan Securities PLC to commence the buyback programme for repurchasing on its behalf,

To have one airline limping forward on the brink of bankruptcy may be regarded as a misfortune. To have two looks like carelessness.

That’s the fundamental problem for India’s aviation industry, home to the critically ill Jet Airways India Ltd. and its state-owned rival Air India Ltd., which more or less died in 2012 but has been kept on life support thanks to ongoing infusions of taxpayer cash.

Alphabet Inc's Google disclosed on Tuesday that it spent a company-record $21.2 million on lobbying the United States government in 2018, topping its previous high of $18.22 million in 2012, as the search engine operator fights wide-ranging scrutiny into its practices.

Google said in a quarterly disclosure to Congress that it spent $4.9 million on lobbying activities during the fourth quarter, slightly above $4.4 million in the same period a year ago.

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