Business Archives - Page 13 of 23

Business chiefs flock to build bridges with Saudi prince

March 10, 2018 Loknath Dasbridges, Build, business, chiefs, Flock, prince, Saudi, to, With

Theresa May and Mohammad bin Salman hold a meeting with other members of the British government and Saudi ministers and delegates inside Number 10 on Wednesday © Reuters Any business aficionado wandering along Mayfair’s Curzon Street on Thursday afternoon would have been treated to a surreal sight: 15 of Britain’s top chairmen and chief executives trooping on to a coach. “It was like a school trip for the captains of industry,” joked one blue-chip director. The coach took nearly an hour to make the two-mile journey to the Saudi ambassador’s…

SBI, IFCI, United Bank scout for buyers to clear off Rs16,349 crore NPA

March 7, 2018 Loknath Das349, Bank, Buyers, Clear, Crore, for, IFCI, NPA, Off, Rs16, SBI, scout, to, United

SBI has asked the bidders to submit expression of interest by 9 March 2018 and further to complete the due diligence by 22 March. Photo: Indranil Bhoumik/Mint New Delhi: State-owned State Bank of India (SBI), United Bank of India (UBI) and long-term infrastructure lender IFCI are looking for buyers to sell as many as 110 accounts that have turned dud to recover dues over Rs16,349 crore. All the three have invited bids today from eligible banks, financial institutions, asset reconstruction companies (ARCs) and non-banking financial companies (NBFCs) to prune such non-performing…

Trump trade wind just a breeze for Asia stocks inured to pain

March 7, 2018 Loknath Dasa, Asia, breeze, for, inured, Just, Pain, stocks, to, trade, Trump:, Wind

A file photo of US President Donald Trump. Stefan Hofer, Asia chief investment strategist at LGT Bank AG, says Hong Kong’s stock market is relatively insulated from trade war concerns with the local economy dominated by financials and property companies. Photo: Reuters Hong Kong: While trade paranoia engulfed everything from US index futures to the dollar and bond markets, it was a different story for Asian equities, as investors weighed competing risk factors affecting the outlook for a region square in the targets of President Donald Trump. Stocks across the Asia-Pacific…

JPMorgan Chase Admits Cryptocurrency Is a ‘Risk’ to its Business for the First Time

February 28, 2018 Loknath Das'First, a, Admits, business, Chase, Cryptocurrency, for, Is, Its, JPMorgan, Risk, The, Time, to

Despite JPMorgan Chase CEO Jamie Dimon having called Bitcoin a “fraud,” the big bank is now taking cryptocurrency very seriously—acknowledging the blockchain-based technology as a veritable threat to its future. In JPMorgan Chase’s annual report, released Tuesday afternoon, the bank counted cryptocurrencies such as Bitcoin and Ethereum as “risk factors” to its business for the first time, recognizing the digital currencies as new forms of competition that could, quite literally, give the bank a run for its money. “Both financial institutions and their non-banking competitors face the risk that payment processing and other services…

Amazon is buying Ring, a business that was once rejected on ‘Shark Tank’

February 28, 2018 Loknath Dasa, Amazon, business, Buying, Is, On, once, Rejected, Ring, Shark, Tank', That, Was

Adam Taylor | ABC | Shark Tank Ring CEO Jamie Siminoff on ABC’s “Shark Tank” in season 5. Tuesday, Amazon agreed to buy Ring, a company that makes smart doorbells, according to representatives of both companies. “Ring’s home security products and services have delighted customers since day one. We’re excited to work with this talented team,” an Amazon spokesperson told CNBC Tuesday. While the official deal hasn’t yet been announced, it could cost Amazon over $1 billion, according to Reuters. Amazon buys digital doorbell maker Ring For Ring’s CEO and founder Jamie Siminoff, achieving…

Ford is setting up for an autonomous ride-hail and delivery business in Miami

February 28, 2018 Loknath Dasan, and, autonomous, business, Delivery, for, Ford, In, Is, Miami, ride-hail, setting, Up

An Argo AI-powered Ford vehicle driving down the streets of Miami. Ford Ford is laying the groundwork for its autonomous vehicle business in Miami, Fla. It’s a three-pronged approach that is still in its infancy, but includes a delivery pilot in partnership with Dominos and Postmates, testing self-driving cars around the city and setting up a fleet-management center. Many other companies in the self-driving space have begun testing both delivery and ride-hail services, but few have established dedicated fleet-management centers that will facilitate the maintenance and operation of these driverless vehicles.…