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Business News from Daily India |
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Federal-Mogul reports profits of $90M
U.S. auto parts supplier Federal-Mogul Corp. has bounced back from Chapter 11 bankruptcy protection, reporting profits of $90 million, records show.
Gas prices fall for 9 consecutive days
U.S. gas prices have fallen nine straight days to a cost of less than $4 a gallon, the cheapest gas has been in nearly two months, a survey indicates.
China mulls consumption tax hike on autos
The Chinese government could raise its car consumption tax on luxury vehicles with high emissions, officials say.
Crocs shares drop by nearly 50 percent
Shares in Crocs Inc. have fallen by nearly 50 percent as the Colorado shoe company reported its first potential sales slump in six years.
Ford to rebrand Mercury line
Ford Motor Co. plans to rebrand its Mercury line as an entry-level luxury car, senior executives say.
Four British Airways execs to be charged
Four British Airways officials may be charged with price-fixing in a case that could have major implications, the Financial Times reported Saturday.
UPI NewsTrack Business
Federal regulators have closed two banks in the U.S. West, saying they were undercapitalized due to the poor performance of home mortgage loans.
American Axle plans 2,500 lay-offs
American Axle & Manufacturing Inc. says it plans to lay off 2,500 employees and eliminate 70 percent of its U.S. manufacturing capacity.
Chrysler suspends new car leases
Plummeting prices for used trucks and SUVs has led U.S. automaker Chrysler Corp. to suspend issuing leases for its new vehicles, auto industry analysts say.
Regulators close two U.S. banks
Federal regulators have closed two banks in the U.S. West, saying they were undercapitalized due to the poor performance of home mortgage loans.
NYC anticipates big drop in Wall St. pay
New York officials are waiting for what could be the largest drop in Wall Street compensation from one year to the next and with it a huge drop in tax revenues.
Reliance TimeOut comes together with TERI press to save the planet
In a bid to inculcate the spirit of environmental protection and conservation in young children through vibrant and fun-filled series of books, TERI press, the publishing arm of The Energy and Resources Institute (TERI) and an independent publisher in its own right, in collaboration with Reliance TimeOut launched its brand new series of children's books with great fanfare today, at the Reliance TimeOut store, Ambience Mall, Gurgaon.
NRI Billimoria keen to promote Cobra as a "world beer"
Indian-born Lord Karan Billimoria is attempting to convert his popular beer brand "Cobra" into a "world beer" with the help of Diageo, the world's biggest alcoholic drinks company and owner of Guinness and Johnnie Walker whisky.
Grains mostly trend up in Chicago Friday
Grains trading tracked up on the Chicago Board of Trade Friday as a federal judged limited a haying proposal for the Conservation Reserve Program.
Poll: Preference for beer grows in U.S.
Preference for beer by U.S. adults has increased to a double-digit margin over its rival beverage wine, Gallup Poll researchers said.
UPI NewsTrack Business
Slim gains on major U.S. stock markets held at the close Friday in spite of a drop of 7.7 percent in General Motors shares.
U.S. markets post slim gains Friday
Slim gains on major U.S. stock markets held at the close Friday in spite of a drop of 7.7 percent in General Motors shares.
Equity firm to rescue Frontier Airlines
Denver's bankrupt Frontier Airlines has accepted a two-step rescue plan from private equity firm Perseus LLC, the airline said Friday.
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