• Cabinet nod for merger of PSBs
Cabinet nod for merger of PSBs

The decision regarding creating strong and competitive banks would be exclusively based on commercial considerations and the proposal must start from the respective boards of the banks, a finance ministry release stated. After this, the banks will take steps in accordance with law and the requirements of the Securities and Exchange Board of India (...

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  • Air India chief Ashwani Lohani appointed Railway Board Chairman, AK Mittal resigns
Air India chief Ashwani Lohani appointed Railway Board Chairman, AK Mittal resigns

Lohani belongs to the Indian Railways Service of Mechanical Engineers of the 1980 batch. "Mr Mittal's resignation has been accepted", a railway official told AFP on condition of anonymity. Suresh Prabhu on Wednesday tweeted his grief over the two tragic rail accidents and took full responsibility for them. He successfully piloted the nomination ...

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  • United States to impose restrictions on China and Russian Federation for supporting North Korea
United States to impose restrictions on China and Russian Federation for supporting North Korea

Russia is preparing to retaliate against newly imposed sanctions by the United States over Russian companies and personnel with regard to dealings with North Korea . "It is unacceptable for individuals and companies in China, Russia, and elsewhere to enable North Korea to generate income used to develop weapons of mass destruction and destabiliz...

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  • Salesforce.com Inc (CRM) Rating Increased to Buy at Zacks Investment Research
Salesforce.com Inc (CRM) Rating Increased to Buy at Zacks Investment Research

Bancorp Of Nova Scotia reported 0.18% of its portfolio in salesforce.com, inc. We're shocked at how these companies have really walked out of the CRM market. For CRM , the company now has $1.81 Billion of cash on the books, which is offset by $1.14 Billion current liabilities. Mizuho maintained it with "Buy" rating and $100 target in Thursda...

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  • Crude Oil Prices Drop By Nearly 2 Percent
Crude Oil Prices Drop By Nearly 2 Percent

United States light crude was 35 cents higher at 47.72 dollars. "This was the biggest weekly fall since September", ANZ bank said on Friday. In its latest Monthly Oil Market Report, OPEC said that its production increased in July, by 172,600 bpd compared to June, to reach 32.869 million barrels.

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  • Fuxing high-speed trains to launch between Beijing and Shanghai next month
Fuxing high-speed trains to launch between Beijing and Shanghai next month

The last generation, known as "Harmony", ran as fast for three years until the 2011 crash in Wenzhou, in Zhejiang province, that killed 40 people and injured almost 200. China's standardised EMU is to go into 350 km/h passenger service between Beijing and Shanghai next month. After the Beijing-Shanghai line, the Fuxing trains will be put into...

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  • Ford launches scrappage scheme - at least £2000 off a new vehicle
Ford launches scrappage scheme - at least £2000 off a new vehicle

All trade-in vehicles will be scrapped. Unlike BMW and Mercedes schemes' which accept only diesel vehicles, Ford will accept both petrol and diesel cars in exchange for the discount deal. Auto manufacturers are also rushing to adapt to new technology, such as electric cars, in part to address air quality concerns. Ford's sales volumes were ...

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  • Food giants Nestlé and Unilever team up on IBM blockchain plan
Food giants Nestlé and Unilever team up on IBM blockchain plan

In separate trials with Walmart in the United States and China, IBM demonstrated how the technology could track prooduce from farm to shelf. Currently, it can take weeks to trace the point of contamination. In the USA, for example, it took more than two months for authorities to identify the farm source of contamination in a recent outbreak of sa...

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  • Ford to set up JV in China to make all-electric vehicles
Ford to set up JV in China to make all-electric vehicles

Though it's only for the Chinese market. "It's a very different sort of vehicle to the sort of auto which would sell in the United States, but nevertheless it proves for Ford - which has been a laggard - 100% electric, non-hybrid cars are coming fast", he said to Professional Engineering .

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  • McDonald's Set To Close 169 Locations, Jeopardizing Thousands Of Jobs
McDonald's Set To Close 169 Locations, Jeopardizing Thousands Of Jobs

Following the unfortunate fallout between the McDonalds' Indian representative McDonald's India Private Limited (MIPL) and Vikram Bakshi headed Connaught Plaza Restaurants Ltd (CPRL), that led to nearly 80 per cent of Delhi's McD outlets to close their doors, the American fast food giant may well terminate its franchise agreement and pull o...

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  • Two-thirds of FTSE 350 board members lack cyber hack training
Two-thirds of FTSE 350 board members lack cyber hack training

Business leaders warned that they are not fully prepared for a cyber event like an employee-led data breach or business data theft. Less than a third of boards receive comprehensive cyber risk information. More than half of company boards now setting out their approach to cyber risks (53% up from 33%). A survey undertaken in the wake of recent ...

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  • Walmart expands Uber delivery test to more cities
Walmart expands Uber delivery test to more cities

Grocery pickup service is free for customers. Employees called "personal shoppers" gather customers' requested items and deliver them via Uber, which is partnering with Walmart. Companies up against Amazon .com Inc. You can order online on your desktop or mobile browser, place an order and then arrange a time for delivery.

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  • Companies Will Lose $694 Million When Employees Watch Solar Eclipse
Companies Will Lose $694 Million When Employees Watch Solar Eclipse

It's estimated American employers will see at least $ 694 million in missing output for the roughly 20 minutes that people will take out of their workday to stretch their legs, head outside the office and gaze at the almost two-and-a-half minute eclipse.

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  • Sempra Energy launches fourth attempt to acquire Oncor
Sempra Energy launches fourth attempt to acquire Oncor

Sempra, which was advised by Lazard and Morgan Stanley, said it would be paying approximately $9.45bn in cash to acquire Energy Future and its 80 per cent ownership of Oncor. An Oncor representative didn't immediately respond. Sempra Energy's headquarters in downtown San Diego. Sempra said Monday that it will also pick up $9.35 billion of the...

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  • Secret Superstar: Drift Away With The Melodies Of Main Kaun Hoon
Secret Superstar: Drift Away With The Melodies Of Main Kaun Hoon

The first song of Aamir Khan and Zaira Wasim starrer Secret Superstar , titled " Main Kaun Hoon " is out and it is absolutely packed with talent. Her voice is enough to soothe your mood for the time you're lost in the song. Aamir Khan also spoke about releasing the film right before Rohit Shetty's directorial Golmaal Again, which boasts a ...

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  • Samir Nasri leaves Manchester City for Turkish club Antalyaspor
Samir Nasri leaves Manchester City for Turkish club Antalyaspor

Nasri has also managed to win two League Cup trophies in Manchester. But he was shoved out on loan to Sevilla as soon Guardiola arrived last summer and had now chance of returning. The midfielder appeared to disappoint Guardiola in last year's pre-season where the City boss publicly criticised him of not being in the right shape to feature in t...

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  • Australia's Fortescue Metals steps up dividend as FY profit jumps
Australia's Fortescue Metals steps up dividend as FY profit jumps

Revenue rose 19 per cent to $US8.45 billion ($10.65 billion). "Fortescue has continued to generate excellent cashflows allowing further repayment of debt, strengthening of our balance sheet and increasing returns to our shareholders", Mr Power said in a statement.

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  • China's Great Wall Motor plans Fiat Chrysler purchase
China's Great Wall Motor plans Fiat Chrysler purchase

Geely Automobile has also said it doesn't have any plans of buying Fiat Chrysler . Zhou Mi, a Wuhan-based spokesman for Dongfeng Motor said, "We now have no plans". It remained unclear whether the Chinese company was interested in pursuing all or parts of the owner of brands including Jeep and truckmaker Ram. Marchionne has said deliveries from ...

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  • Rathbones and Smith & Williamson in £56bn merger talks
Rathbones and Smith & Williamson in £56bn merger talks

Rathbones confirms that it is now in exclusive discussions with the Smith & Williamson group of companies regarding a possible all share merger of the two groups. These would be complementary to Rathbones' private office, while both firm's asset management arms would be merged to create a significant player. Smith and Williamson is, according to ...

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  • AIADMK merger: Party will be 'one again' and 'without Sasikala', says Panneerselvam
AIADMK merger: Party will be 'one again' and 'without Sasikala', says Panneerselvam

The merger between two groups was also possible after Palaniswami government gave in to another key demand of former chief minister Panneerselvam and ordered a judicial probe into the "mysterious" death of AIADMK supremo J Jayalalithaa .

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