Indian shares slip for third straight day as Bajaj Auto’s forecast adds to blues

By Hritam Mukherjee (Reuters) -Indian shares fell for the third straight session on Thursday as motorcycle maker Bajaj Auto’s warning of weak festive period sales rippled through the markets, adding to the pressure of high stock valuations and the exodus of foreign funds. The Nifty 50 index dropped 0.9% at 24,749.85 points as of 3:30 …

Indian shares slip for third straight day as Bajaj Auto’s forecast adds to blues Read More »

Vonovia CEO: no longer need cash flow to relieve balance sheet

BERLIN (Reuters) – Vonovia will no longer need cash flow to relieve its balance sheets after officially initiating a change of strategy with the presentation of nine-month figures next month, the property company’s chief executive told Handelsblatt newspaper. Germany’s largest real estate group will present the results on Nov. 6. “After that, we will no …

Vonovia CEO: no longer need cash flow to relieve balance sheet Read More »

South Africa mulls tax rebates, subsidies to boost local EV industry

JOHANNESBURG (Reuters) – South Africa is considering introducing tax rebates or subsidies for consumers to boost buying of electric vehicles, President Cyril Ramaphosa said on Thursday, as Africa’s most industrialised economy transitions its automotive industry. Global automakers like Ford, Volkswagen, BMW and Toyota manufacture models in South Africa for both the local and European markets. …

South Africa mulls tax rebates, subsidies to boost local EV industry Read More »

Schneider Electric to buy data centre cooling firm Motivair for $850 million

(Reuters) – Schneider Electric will pay about $850 million for a controlling stake in Motivair Corp, a specialist in liquid cooling for high-performance computing, the French firm said on Thursday, beefing up offerings for rapidly-growing data centres. The all-cash deal, expected to close in the coming quarters, will give Schneider a stake of 75% in …

Schneider Electric to buy data centre cooling firm Motivair for $850 million Read More »

India’s Jindal Stainless eyes higher sales in Canada

NEW DELHI (Reuters) – India’s Jindal Stainless is targeting increasing sales in Canada if the North American country imposes duties on Chinese products, Managing Director Abhyuday Jindal said on Thursday. “If this duty comes on China then we will be able to push even more volumes into Canada,” Jindal said at a post-results news conference. (Reporting by Neha …

India’s Jindal Stainless eyes higher sales in Canada Read More »

India’s Wipro beats Q2 revenue estimate

(Reuters) – Wipro, India’s fourth-largest software company, posted higher-than-expected second-quarter revenue on Thursday, helped by a revival in spending by its clients in the U.S. communications sector. The company’s consolidated revenue fell 1% to 223.02 billion rupees ($2.65 billion) in the July-September quarter, but was above analysts average estimate of 222.58 billion rupees, as per …

India’s Wipro beats Q2 revenue estimate Read More »

Franco victim exhumations at Spanish mass grave lose funding through contentious law

By Eva Manez and David Latona PATERNA, Spain (Reuters) – Exhumations are set to end at one of Spain’s largest mass grave sites holding thousands of victims of General Francisco Franco’s fascist dictatorship after the regional coalition government that included the far-right Vox party withheld funding. Excavations at the cemetery believed to hold over 2,200 …

Franco victim exhumations at Spanish mass grave lose funding through contentious law Read More »

St James’s Place highlights investor uncertainty ahead of UK budget

By Yamini Kalia (Reuters) -St James’s Place on Thursday joined other asset managers in flagging investor uncertainty ahead of the UK budget later this month, after reporting a bigger than expected increase in funds under management in the third quarter. CEO Mark FitzPatrick said that speculation around the new Labour government’s maiden budget on Oct. …

St James’s Place highlights investor uncertainty ahead of UK budget Read More »

Bank of Thailand to hold rates at 2.25% for rest of this year, cut in Q1: Reuters poll

By Veronica Dudei Maia Khongwir BENGALURU (Reuters) – The Bank of Thailand (BOT) will hold its key interest rate at 2.25% at its final policy meeting for the year in December, following an unexpected 25-basis-point cut on Wednesday, according to economists in a Reuters snap poll. While the BOT’s decision on Wednesday to cut rates – …

Bank of Thailand to hold rates at 2.25% for rest of this year, cut in Q1: Reuters poll Read More »