Business

Tim Cook said he is yet to fully determine which divisions would cut back on hiring.

Apple Inc. will cut back on hiring for some divisions after selling fewer iPhones than expected and missing its revenue forecast for holiday quarter, according to people familiar with matter.

Tim Cook, Apple's chief executive officer, made disclosure to employees

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In Kolkata and Chennai, prices of petrol fell to Rs 72.44 and Rs 73.00 per litre respectively.

Petrol prices were cut marginally across four metros of country while diesel rates were increased for seventh straight day on Wednesday. In Delhi, petrol was sold at Rs 70.33 per litre, 8 paise down from Tuesday's levels of Rs 70.41 per litre, according

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It is unclear whether Indra Nooyi would accept nomination if chosen by Trump administration.

New York: 

India-born Indra Nooyi, former CEO of global beverage giant PepsiCo, is being considered by White House for new World Bank president, according to a leading American daily. Nooyi, 63, stepped down as PepsiCo's chief last August after leading

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Etihad already holds 24 per cent stake in Jet Airways.

Jet Airways is most likely to get a lifeline if United Arab Emirates (UAE)-based Etihad and Jet manage to reach an agreement, and Etihad decides to increase its stake in carrier in which it already holds a 24 per cent stake while Jet Airways promoter Naresh Goyal holds 51 per cent. However,

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Jet Airways discount offer: One needs to travel between January 16 and November 30 to avail offer.

Jet Airways has come up with a discount offer on international flight tickets. The airline is offering up to 20 per cent discount in premiere section and up to 30 per cent discount on base fare in economy section from India to select destinations in

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INR Vs USD: The rupee on Tuesday plunged by 13 paise to close at 71.05 against dollar.

The rupee opened on a weaker note but soon pared losses and appreciated by 13 paise to 70.92 against US dollar in opening trade on Wednesday, driven by gains in domestic equities and weakening of greenback in overseas markets. 

The rupee opened on a weak note at

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Angel Tax is imposed on difference between premium value and fair market value of shares.

The government has notified changes to Section 56 of Income Tax Act, in a move that brings relief to start-up founders and investors dealing with issue of "Angel Tax". In a notification, government today said that all DIPP-recognised start-ups can apply to

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Beleaguered airline Jet Airways said on Wednesday it was discussing with shareholders about a resolution plan with State Bank of India (SBI). The carrier, which has been grappling with financial woes, defaulted on loan repayment to a group of lenders led by SBI on December 31, 2018.

"SBI in consultation with other members of consortium and other

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Share markets on Wednesday: The gains on Dalal Street were led by banking, metal and realty stocks.

Domestic stock markets started Wednesday's session on a positive note tracking heavy buying by domestic institutional investors after government said that country's trade deficit had narrowed to a 10-month

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The government is due to present Interim Budget 2019 on February 1. The budget is an annual financial statement of a government, detailing its revenue and expenditure in past, as well as estimated spending and projections for time to come. The Budget is tabled in Parliament by finance minister. Other than Budget speech, Budget comprises a set of

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Share markets on Wednesday: Twenty two out of 50 stocks on Nifty finished session with gains.

Domestic stock markets ended Wednesday's choppy session on a flat note tracking mixed cues from global markets amid geopolitical uncertainties. The 30-scrip Bombay Stock Exchange (BSE) benchmark index closed at

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The new flights are launched under regional connectivity scheme, "UdeDesh ka Aam Nagrik" (UDAN).

Kolkata: 

Private carrier SpiceJet on Tuesday flagged off a daily direct flight on Kolkata-Lilabari route, under regional connectivity scheme, "UdeDesh ka Aam Nagrik" (UDAN).    

"Lilabari is SpiceJet's first destination in Assam under UDAN scheme and we

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Amazon and Flipkart have both sought an extension of February 1 deadline.

The government's new foreign investment restrictions for its e-commerce sector, which includes giants such as Amazon.com Inc and Walmart-owned Flipkart, could reduce online sales by $46 billion by 2022, according to a draft analysis from global consultants PwC seen by Reuters.

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On Monday, China is expected to report economy grew 6.6 per cent in 2018.

Shanghai: 

China's central bank injected a record $83 billion into country's financial system on Wednesday, seeking to avoid a cash crunch that would put further pressure on weakening economy. China's policymakers are pledging to step up stimulus measures this year and do more

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Under State Bank of India (SBI) annuity deposit scheme, a nomination facility is also available.

SBI or State Bank of India, country's largest lender, offers annuity deposit scheme, which is a type of fixed deposit (FD) or term deposit. The scheme enables depositor to pay a one-time lump sum amount and receive same in equated monthly instalments

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RBI is also allowing manufacturing companies to raise up to $50 million from overseas lenders

Mumbai: 

The Reserve Bank of India relaxed offshore borrowing rules for companies and financial institutions on Wednesday, a move that is likely to boost rupee exchange rate. Borrowers can now raise funds from offshore markets for at least three years

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Interim Budget 2019: Unlike a full-year budget, an interim budget covers a smaller period of time

Finance Minister Arun Jaitley will present Budget 2019 on February 1. That would be an interim budget. An interim budget, just like a full-year budget, is an annual financial statement of a government's finances. It contains key details such as where

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Rupee has lost 64 paise in these three sessions.

Mumbai: 

The rupee on Tuesday plunged by 13 paise to close at one-month low of 71.05 against US dollar amid strengthening greenback and surging crude oil prices. At Interbank Foreign Exchange, rupee opened weaker at Rs 70.79 then lost further ground and fell to a low of 71.15 against American

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However, sovereign gold held steady at Rs 25,400 per piece of eight grams.

Extending its upward trend for third straight day, gold prices on Wednesday gained by Rs 65 to trade at Rs 33,190 per 10 grams at bullion market, reported news agency Press Trust of India (PTI). The climb in prices came due to

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Ahead of a general election, government run by BJP has announced several stimulus measures.

New Delhi: 

Country's ruling party is in favour of an expansionary economic policy and does not consider government's plan to keep fiscal deficit to 3.3 per cent of GDP as "sacrosanct", a party spokesman told Reuters.

Ahead of a general election that must be

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In November, trade deficit was $16.67 billion.

New Delhi: 

Trade deficit narrowed to $13.08 billion in December, lowest in 10 months, due to a fall in gold imports, trade ministry said in a statement on Tuesday. In November, trade deficit was $16.67 billion.

In December, merchandise exports rose 0.34 per cent from a year earlier to $27.93 billion,

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The preparation for union budget starts from August or September.

Union Budget is an annual report which contains government's revenue and expenditure for a particular fiscal year, which runs from April 1 to March 31. It is prepared by budget division in Ministry of Finance after consulting with other ministries. The government is scheduled to

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Etihad might have to make an open offer in case it is hiking stake in Jet Airways, say reports.

Mumbai: 

Amid concerns over financial health of Jet Airways, Civil Aviation Ministry on Wednesday expressed hope that airline, its strategic partner Etihad and lenders reach a "common plan" to deal with situation. Jet Airways, which has also defaulted on

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The participants also recommended tax sops to attract quality employment in education.

New Delhi: 

Minister of State for Finance Shiv Pratap Shukla on Tuesday said government is open to reconsider Goods and Services Tax (GST) rates on certain components in education sector. Speaking at a pre-budget discussion on expectations for education,

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The current system has been a success and new project will be more tax friendly, said Piyush Goyal.

IT (information technology) major Infosys has been selected to implement next generation system for processing income tax return filings, with Union Cabinet sanctioning an estimated Rs 4,241.97 crore for project. The move will help in bringing down

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The government had infused Rs 500 crore in Exim Bank last financial year.

The Union Cabinet on Wednesday approved fund infusion in Export-Import Bank of India (Exim Bank), sources said. The infusion would help bank expand its business, they added. The government had provided for Rs 500 crore towards capital infusion in Exim Bank in budget for this

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New Delhi: 

Industry chamber Ficci or Federation of Indian Chambers of Commerce and Industry on Sunday recommended that government lower corporate tax rates across board to 25 per cent irrespective of turnover in coming Union Budget on February 1 in order to spur economic growth and increase overall revenue collections.

Ficci said in a statement

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Angel tax is a tax imposed on difference between premium value of shares and fair market value of shares.

Start-ups are set to get relief from angel tax with exemption limit being raised to Rs 50 lakh from Rs 25 lakh for returns on income a year before an investment. Commerce and Industry Minister Suresh Prabhu has approved a notification

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Rakesh Kapoor: Reckitt Benckiser's stock has almost doubled in value under his leadership.

British consumer goods maker Reckitt Benckiser Group Plc said on Wednesday Chief Executive Officer Rakesh Kapoor would retire by end of 2019 after more than eight years at helm and more than three decades with company. The maker of Durex condoms and Enfamil

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Forty six out of Nifty50 stocks closed in green.

Breaking a three-day fall, domestic stock markets surged over one per cent on Tuesday as a plunge in inflation rates fuelled hopes of monetary easing. The S-P BSE Sensex ended 464.77 points, or 1.30 per cent, higher at 36,318.33 while NSE Nifty50 settled

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