Business News

Consumers may be reeling under an inflation of close to 13 per cent, but it should not be a cause of concern for India's second richest person Anil Ambani, whose pay package has grown by close to six times over past fiscal.

They are better known for their business acumen -- but people like cola queen Indra Nooyi, legendary investor Warren Buffett and tech tycoon Steve Jobs have now made it to a list of top 'executive icons' with distinctive fashion sense.

India, the world's largest milk producer with an annual output of over 100 million tons, will have to step up production to meet its increasing consumption rate, says an expert.

Drop in sales have forced Tata-owned Jaguar Land Rover (JLR) to cut production of the utility vehicle and re-deploy about 300 workers in the UK, a media report said.

Social and political upheaval in Jammu and Kashmir during the past two months has cost its industry dearly, leading to losses of over Rs 5,000 crore, industry body Assocham has said.

Britain's economy unexpectedly ground to a halt in the second quarter, its weakest performance since the recession of the early 1990s, revised official data showed on Friday.

Banks supporting a key cash call at Bradford & Bingley said on Friday they would buy the 72 per cent of shares not placed in the bank's rights issue after a languishing price made it impossible to find other investors.

ONGC Videsh may take a Russian partner to counter Chinese firm Sinopec in the battle for acquisition of UK-listed Imperial Energy, whose promoters may choose a winner in the next few days.

Oil rose to $116 a barrel on Thursday, climbing for a third straight session, as Washington's missile shield deal with Poland angered Russia, adding to international tension.

The United States wants officials to resume international trade talks in September after a meeting of ministers collapsed without a breakthrough last month, US trade chief Susan Schwab was quoted as saying.

Global steel player ArcelorMittal said on Wednesday that it will acquire Brazilian iron ore miner London Mining South America (London Mining Brasil) for $810 million.

Bank of England policy makers split three ways in August, with one arguing for higher rates to tame inflation and another voting for a cut to stave off a recession.

Mahindra Renault on Wednesday announced the launch of its passenger car 'Logan' in Nepal, marking the mid-sized sedan's overseas foray.

Global steel player ArcelorMittal on Wednesday said it will acquire Brazilian iron ore miner London Mining South America (London Mining Brasil) for 810 million dollars.

Most Asian stock markets edged up on Wednesday, recovering from a two-year low as Chinese shares surged on hopes Beijing would introduce a stimulus package to jumpstart growth, though many analysts said it was a long shot.

General Motors Corp has not even officially put Hummer up for sale yet, and likely buyers are already backing away.

Many people in America and Europe think that the recent surge in inflation, like almost everything else these days, is "made in China".

The head of the World Bank added his voice on Monday to those calling for a revival of last month's abortive world trade talks.

With the Olympics halfway through, officials have started reassuring the world that China will not suffer from a "post-Olympic recession" due to the scale and potential of its economy, the world's fourth largest.

Asian stocks fell to a two-year low on Tuesday, led by exporter shares, on fears the US government will have to bail out the top mortgage finance companies, further destabilising the financial sector.