By Sarah Young, Yadarisa Shabong and Mathieu Rosemain LONDON (Reuters) -India’s Bharti Enterprises said it would acquire a 24.5% stake in BT, worth 3.2 billion pounds ($4 billion), to buy out the British company’s top investor Patrick Drahi as his Altice group speeds up asset sales to cut its debt burden. The move by Bharti’s …
India’s Bharti to buy 24.5% stake in BT from Altice Read More »
(Reuters) – Italian cablemaker Prysmian on Monday received about $96 million in its trade secrets case against India’s Sterlite Technologies. Prysmian filed the lawsuit in 2021 claiming that a former executive Stephen Szymanski misused trade secrets and took them to his new employer Sterlite, a networking technology provider. The trial found out that Sterlite possessed …
Italy’s Prysmian gets more than $96 million in trade secrets dispute against Sterlite Read More »
By Rahul Paswan (Reuters) – Gold prices rose by more than 1% on Monday to hit the highest since Aug. 2, driven by safe-haven inflows as traders awaited U.S. inflation data this week that could shed more light on the Federal Reserve’s interest rate cut path. Spot gold rose 1.5% to $2,468.25 per ounce as …
BENGALURU (Reuters) – Adani Group, the Indian conglomerate rocked by a Hindenburg Research report last year, faced another heavy share selloff on Monday after the shortseller accused the head of India’s market regulator of having links to offshore funds also used by the group. $2.43 billion, or 1%, had been wiped off the market value …
$2.4 billion wiped off Adani shares after Hindenburg allegations against regulator Read More »
BENGALURU (Reuters) – India’s state-run miner NMDC reported a first-quarter profit ahead of estimates on Monday as higher prices offset a decline in sales primarily caused by workers’ strikes. Profit for the country’s largest state-owned iron ore miner swelled 20% from a year earlier to 19.84 billion rupees (about $236 million) for the three months …
Indian state-run miner NMDC’s Q1 profit tops estimates on higher prices Read More »
BENGALURU (Reuters) – Indian telecom operator Vodafone Idea reported a smaller-than-expected first-quarter loss on Monday, helped by a fall in expenses. The company posted a consolidated loss after tax of 64.32 billion rupees ($766.4 million) for the quarter ended June 30, compared to a loss of 78.40 billion rupees a year earlier. Analysts, on average, …
India’s Vodafone Idea reports lower-than-expected Q1 loss on reduced expenses Read More »
By Manvi Pant and Indranil Sarkar BENGALURU (Reuters) – India’s top steelmaker JSW Steel said on Monday it will buy a 67% stake in an Australian private firm for $120 million in a bid to expand its coal reserves. JSW Steel said it will buy the stake in M Res NSW HCC, an affiliate of …
India’s JSW Steel to buy $120 million stake in Australian firm to expand coal reserves Read More »
NEW DELHI (Reuters) – India’s oil ministry has asked the finance ministry to withdraw windfall tax on petroleum products, broadcaster ET Now reported on Monday, citing sources. The oil ministry has sought the withdrawal due to a reduction in crude prices, the report said. (Reporting by Shivam Patel in New Delhi; Editing by YP Rajesh)
NEW DELHI (Reuters) – Oil tanker Destan, stuck in India for three weeks due to technical issues with its engine, discharged Russian oil and departed on Monday, two sources with knowledge of the matter said. The Panama-flagged tanker carrying about 740,000 barrels of Russian light sweet ESPO oil for refiner Indian Oil Corp arrived at …
Tanker with Russian oil leaves India after 3 weeks, sources say Read More »
By Aditya Kalra NEW DELHI (Reuters) – Pernod Ricard’s legal head in India has resigned, said two sources with direct knowledge of the matter, a key departure at a time when the French liquor giant faces many legal and regulatory headaches in the critical Indian market. The sources, who spoke on condition of anonymity, said …
Top Pernod India counsel quits for Google amid antitrust, criminal probes, sources say Read More »
