French financial service provider Societe Generale S.A. reported Friday a sharp drop in its third-quarter profit amid weak revenues. According to the company, the net result was penalized by the negative effect of short-term hedges on net interest income in French retail, the impact of which peaked in the third quarter. Slawomir Krupa, Chief Executive Officer, said, “This quarter was […]

Shares of Fluor Corporation (FLR) were trading up over 7 percent after the company raised its annual outlook, above the Street view, to reflect the positive advances on large Energy Solutions projects and continued progress on projects in its legacy portfolio. In addition, the movement was also supported by a surge in Fluor’s third-quarter earnings that came in better than […]

Foreign portfolio investors (FPIs) are expressing apprehension over the 10-day disclosure window provided for submitting details of beneficial owners in the case of fresh breaches of investment thresholds. Just before the additional disclosure regulations for FPIs become effective, the Securities and Exchange Board of India (Sebi) has released the standard operating procedure (SOP) for custodians. While the SOP offers clarity […]

U.S. economic growth accelerated by more than expected in the third quarter of 2023, according to a report released by the Commerce Department on Thursday. The Commerce Department said gross domestic product spiked by 4.9 percent in the third quarter after jumping by 2.1 percent in the second quarter. Economists had expected GDP to surge by 4.2 percent. The stronger […]

The supreme court of Georgia has upheld the state’s ban on abortion after six-weeks of pregnancy. Georgia had passed the Living Infants Fairness and Equality (Life) Act in 2019 that bans abortion, with some exceptions, when early heartbeat is detected. It took effect after the US Supreme Court overturned the federal right to an abortion under Roe v Wade in […]

Sources said the personal loans book may grow in the range of 30 to 40 per cent Y-o-Y on its current base The growth in personal loans for fintech major Paytm may remain muted in the future and not replicate a three-digit year-on-year (Y-o-Y) growth that it recorded in the previous years, a person familiar with the matter said. Sources […]

‘The governance of Wipro allows us to be more focused on deep transformation to build the right company for the future as opposed to just being tactical.’ Thierry Delaporte, chief executive officer and managing director, Wipro, talks about the demand environment, large deals pipeline, and acquisition strategy in an interview with Ayushman Baruah/Business Standard in Bengaluru. Wipro’s sequential revenue growth […]

In a move to strengthen governance in private sector banks and wholly-owned subsidiaries of foreign banks, the Reserve Bank of India (RBI) on Wednesday directed them to have at least two wholetime directors. Lenders that do not meet the requirement will have to submit the names for the RBI’s approval within four months. Banks need prior approval from the banking […]

The top 25 global technology (tech) firms, including Apple, Microsoft, Amazon, Tencent, Samsung, Oracle, and Accenture, collectively lost over $600 billion in market capitalisation (m-cap) during the July-September quarter (third quarter, or Q3) of calendar year 2023 (CY23), reveals a recent report by GlobalData, a London-based analytics and consulting company. According to the report, most of these top global tech […]

Fans of the supernatural are being offered a glass of ‘haunted wine’ that has been exhumed from a coffin in time for Halloween. 100 bottles of blood-red wine had been laid to rest in an oak coffin buried deep in a Victorian cemetery in London. A priest presided over the exhumation at Tower Hamlets Cemetery in case there was any […]