Markets
Infosys net up 11.7% in 2017-18
In constant currency terms, Infosys managed a 5.8% growth, which was lower than industry body Nasscom's estimate of 7.8% growth past year. Under the International Financial Reporting Standards, in dollar terms, consolidated net income declined 28.1 per cent sequentially to $571 million but gross income was up 1.8 per cent sequentially to $2,805 million. [Full Article...]
IHH plans rival bid for India's Fortis Healthcare
Manipal's revised offer followed reports of discontentment among Fortis shareholders over its valuation. IHH , one of Asia's largest healthcare operators, has bid 160 rupees (US$2.45) per share for Fortis, topping a 155 rupees per share offer from Fortis's Indian rival Manipal Healthcare Enterprises Private Limited . [Full Article...]
Jaguar Land Rover to Cut 1000 Jobs
The company, which employs 40,000 people in the United Kingdom, will move some workers from its factory at nearby Castle Bromwich to fill gaps left by the cuts at Solihull. That was 2.3 per cent fewer than in 2016. Sales of new Jaguar cars between January and March fell by 26% compared with the same period past year, while demand for new Land Rovers dropped by 20%. [Full Article...]
Little Tikes Genius Bids For Toys R Us
The bid, supported by Larian, investors and bank financing, includes $271 million to buy the Toys "R" Us stores in Canada, as well as $851 million to buy about 274 stores in the U.S. The crowdfunding effort was designed only to raise awareness, she said. Toys "R" Us filed for bankruptcy in September in the face of strong competition from online retailers such as Amazon.com Inc. [Full Article...]
Tarantula Burger Being Served at North Carolina Restaurant
This year, they're serving up a 'Tarantula Burger.' And no, just because it's in quotation marks doesn't mean it's figurative. Fearless customers who clean their plates get a tarantula challenge T-shirt - and bragging rights. One ticket is being drawn per day until the restaurant's tarantula supply runs out. Other exotic meats featured during the promotion include alligator, camel, turtle, rei... [Full Article...]
Tesla Stock Rises After Snarky Musk Tweet
The electric vehicle producer reported ($3.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.12) by $0.08. The shift from Model S and X to Model 3 has been hard to say the least, which led to Musk coining the term "production hell". [Full Article...]
Harris Associates LP Stake in Citigroup INC (C) Decreased
Bb&T Ltd Liability Corporation holds 0.31% of its capital in Citigroup Inc . Citigroup Inc ( NYSE :C) has 16.32M shares average volume. Moreover, Grisanti Lc has 5.02% invested in Citigroup Inc . The institutional investor held 4,385 shares of the technology company at the end of 2017Q4, valued at $527,000, down from 7,385 at the end of the previous reported quarter. [Full Article...]
Saudi Arabia Celebrates Woman-Only Arab Fashion Week
According to a Reuters report, models and makeup artists gearing up for the event expressed surprise that the fashion event was taking place in the "deeply conservative Muslim Kingdom". After several deferrals, the first ever fashion week in Saudi Arabia is due to start in the capital city Riyadh, on Thursday. The event had amassed interest of global guests wanting to attend, as a result, th... [Full Article...]