The business wrap: SoftBank claims $555-million loss in India, and six other top stories
The Defence Ministry approved a policy to regulate arms contractors, and United States markets closed higher after the FBI gave Hillary Clinton a clean chit.
A look at the headlines in the sector right now:
- SoftBank reports $555-million loss in Indian investments, Ola and Snapdeal to be affected: In its six-monthly report, the Japanese telecom giant said it had suffered losses from financial instruments during the current financial year till September.
- Defence Ministry clears new policy for blacklisting arms contractors for wrongdoings: Ministry officials said the new rules aimed at being stricter with companies without affecting the modernisation process.
- US markets surge after FBI clears Hillary Clinton in email server case: Dow Jones, S&P 500 Index and NASDAQ Composite closed more than 2% higher, the dollar gained 1% against the pound and oil prices went up by more than 1%.
- Ford announces $195-million investment proposal for India: Ford Motors Limited said it planned on setting up a technology and business center to develop new products in Chennai.
- Good and Service tax online facility launched: The Centre said the portal will facilitate easy filing of returns and tax payments.
- Bhel reports Rs 109-crore profit in second quarter: State-run power equipment manufacturer attributed the gains to initiatives by new management.
- India's demand for gold may drop to lowest rank in seven years, says World Gold Council: The body predicts a fall of up to 24% this year.