Markets
Stagecoach takes legal action over West Coast rail franchise
It said it had issued a High Court and judicial review claim alleging that the DfT breached its statutory duties in connection with the ongoing competition for the franchise. The DfT previously said: "Stagecoach is an experienced bidder who knowingly submitted non-compliant bids on all competitions". Britain's Department for Transport had asked bidders for the rail franchise to take on the full ... [Full Article...]
British billionaire brothers mull bid for India's broke Jet Airways
The lenders were previously unhappy with the bids they'd got because they believed that no bidder was serious enough to revive the cash-strapped airline. He mentioned that simultaneous discussions are underway with government-owned wealth fund National Investment and Infrastructure Fund (NIIF). Legal experts have warned the banks against pursuing that route. [Full Article...]
Rupee rises 21 paise against United States dollar
The rupee opened on a strong note at Rs 69.75 against the greenback at the interbank forex market. On May 16, 2014 - the day when the 16th Lok Sabha election results were announced - the rupee traded around 58.74 against United States dollars. [Full Article...]
Renewable Energy Group, Inc
Citigroup Inc. now owns 125,722 shares of the oil and gas company's stock worth $3,231,000 after acquiring an additional 64,936 shares during the last quarter. Design the developmental plans for the business gaining knowledge of the value of the production, cost of the production, value of the products, and more for the coming years. [Full Article...]
New Vauxhall eCorsa: official pics of electric hatch
Details unveiled this week by Vauxhall suggest the Corsa-e has an excellent range - although full and complete details have yet to be confirmed - and that it's no slouch either, sprinting from 0-31mph in 2.8 seconds. The Corsa-e also looks dynamic thanks to its sporty design, while the compact exterior dimensions of previous generations are retained. The driver sits 28 mm lower, and Opel touts a... [Full Article...]
Ex-Jet Airways chairman Naresh Goyal, wife stopped from leaving country
Goyal was stopped from leaving the country due to a look-out circular issued by the Union Home Ministry, officials said. Jet Airways employees had earlier said they were anxious about the Goyals leaving the country even as the airline's revival plan remains unclear. [Full Article...]
Markit: US manufacturing activity growth near 10-year low
The Eurozone's PMI composite edged up to 51.6 from 51.5 in April. Jobs growth slipped to the joint-lowest since 2016 as firms scaled back expansion plans in light of weak sales, said the data company, which gauges the economy via survey questions sent out to businesses. [Full Article...]
Federal Reserve could cut interest rate cut after inflation woes
After raising the key lending rate four times previous year, the Fed voted unanimously this month to keep it in a range of 2.25-2.5 percent. Some of the risks to the outlook that anxious markets in December seem to have receded, and Williams said he expects to see USA growth this year "a bit above two percent" while inflation should hit the Fed's goal in the next year or two. [Full Article...]