Reuters India Business Archives - Page 895 of 1191

Pratt & Whitney says faces higher risks after Go First filed for bankruptcy

12 May 2023 12 May 2023

By Mike Scarcella and Jahnavi Nidumolu NEW YORK/BENGALURU (Reuters) -Pratt & Whitney on Thursday opposed Go Airlines (India) Ltd’s push to enforce an arbitration ruling in an engine dispute, with the U.S. company arguing in a Delaware court that the Indian airline’s bankruptcy filing has raised risks for it. The Indian airline, widely known as …

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India’s Hindustan Aeronautics posts first drop in profit in 10 quarters

12 May 2023 12 May 2023

BENGALURU (Reuters) – India’s Hindustan Aeronautics Ltd (HAL) on Friday, reported its first decline in profit in 10 quarters, hurt by higher input costs and tax expenses. HAL’s consolidated net profit fell nearly 9% to 28.31 billion rupees ($346.2 million) in the fourth quarter ended March 31. While revenue from operations rose 8% to 124.95 …

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Go First’s financial crisis and its Pratt & Whitney dispute: what you need to know

12 May 2023 12 May 2023

NEW DELHI (Reuters) – India’s Go First has been granted bankruptcy protection that will give it time to get back on its feet, but the move has put the country’s fourth-largest airline at odds with lessors who want to repossess planes for missed rental payments. Go First blames U.S. engine maker Pratt & Whitney for …

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India’s April palm oil imports slump 30% to 14-month low

12 May 2023 12 May 2023

By Rajendra Jadhav MUMBAI (Reuters) – India’s palm oil imports in April slumped 30% from a month earlier to hit a 14-month low, as the premium over rival soft oils prompted buyers to shift to sunflower oil and soyoil, a trade body said on Friday. The big drop in palm oil imports by India, the …

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Metals, IT drag Indian shares ahead of CPI data

12 May 2023 12 May 2023

By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares declined on Friday, dragged by metal and information technology stocks after macroeconomic data from the United States and China triggered global growth concerns ahead of domestic retail inflation data. The Nifty 50 was down 0.30% at 18,242.20 as of 10:15 a.m. IST, while the S&P BSE Sensex fell …

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‘Risky jurisdiction’: Aircraft lessors raise alarm over Go First crisis in India

11 May 2023 11 May 2023

By Aditya Kalra and Aditi Shah NEW DELHI (Reuters) – The world’s second largest aircraft lessor, SMBC Aviation Capital, has warned that India’s decision to block leasing firms from reclaiming Go First planes will jolt the market and spark a confidence crisis, legal papers show. SMBC, along with firms such as Jackson Square Aviation and …

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Oil falls 2% on weak US and Chinese economic data

11 May 2023 11 May 2023

By Scott DiSavino NEW YORK (Reuters) -Oil prices fell about 2% to a one-week low on Thursday as a political standoff over the U.S. debt ceiling stoked recession jitters in the world’s biggest oil consumer, while rising U.S. jobless claims and weak Chinese economic data weighed. Brent crude futures fell $1.43, or 1.9%, to settle …

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Gold retreats as dollar gains upper hand

11 May 2023 11 May 2023

By Deep Kaushik Vakil (Reuters) – Gold retreated on Thursday as rival safe-haven dollar advanced and outweighed support for bullion from lingering economic risks, while traders digested the impact of weak data on the interest rate outlook. Spot gold was down 0.8% to $2,013.84 per ounce by 1:40 p.m. EDT (1740 GMT), while U.S. gold …

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Gillette India’s Q3 profit jumps 48% on lower tax expenses, premium products

11 May 2023 11 May 2023

(Reuters) – Gillette India Ltd, known for its shaving razors, posted a more than 48% jump in third-quarter profit on Thursday, helped by lower income tax expenses and the introduction of more premium products. Gillette India, in which consumer goods giant Procter & Gamble Co holds a 75% stake, said its profit stood at 1.03 …

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Three Adani firms weigh raising up to $5 billion – Bloomberg News

11 May 2023 11 May 2023

BENGALURU (Reuters) -Three Adani Group firms are considering raising up to $5 billion, Bloomberg News said on Thursday, months after a mega $2.5 billion share sale by the Indian group’s flagship firm fell through in the wake of a scathing short-seller report. Adani Enterprises Ltd, Adani Green Energy Ltd and Adani Transmission Ltd, part of …

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