Finance

IOC to cut diesel, petrol prices from Friday

A worker prepares to fill a jerry-can at a fuel station in Kolkata January 18, 2013. REUTERS/RUPAK DE CHOWDHURI/FILES Indian Oil Corp (IOC) will cut the price of diesel by 2.3 percent from Friday and that of petrol by 1 percent, reflecting changes in global fuel prices. The retail price of diesel will be cut by 1.06 rupees a litre, ... Read More »

Number of UK house sales down, but prices up by 4.5%

Sales during 2015 were 8% lower than in 2014 due to an ‘acute shortage’ of properties on the market Salford has benefited from the relocation of the BBC and other broadcasters. Photograph: Bloomberg/Bloomberg via Getty Images Salford and Pontefract were two hotspots, but 2015 was a relatively poor year for house sales due to an “acute shortage” of properties coming ... Read More »

Review launched after airport shops found to not pass on VAT savings

Chancellor blasts ‘unacceptable’ practice that sees some stores keep 50p in every £1 of VAT discounts, without passing them on Travellers in the summer threatened to not show boarding cards when making purchases. Photograph: Steve Parsons/PA The government is launching a review into airport retail taxes after revealing that shops are ripping off travellers by failing to pass on up ... Read More »

Sensex closes in green but ends 2015 with losses

The Bombay Stock Exchange (BSE) building is pictured next to a police van in Mumbai, August 24, 2015. REUTERS/DANISH SIDDIQUI/FILES Indian shares ended 0.6 percent higher in choppy trade on Thursday, marking an end to the December derivatives series, but posted their first yearly loss in four. The Nifty ended 0.63 percent higher, above the psychologically important 7,900 mark. The ... Read More »

BP evacuates North Sea oilfield after unmanned barge drifts nearby

More than 200 workers evacuated from drilling platform as vessel breaks moorings in stormy seas and floats towards Valhall oilfield A North Sea oil rig in Norwegian waters on a calmer day. Photograph: Bloomberg/Getty Hundreds of oil workers have been evacuated from North Sea drilling platforms after an unmanned barge was cut adrift by storms. BP ordered more than 230 ... Read More »

SocGen to shut India equities research desk

People walk past a Societe Generale bank branch during rush-hour in Paris, May 19, 2015. REUTERS/CHRISTIAN HARTMANN/FILES Societe Generale, France’s second-biggest bank by market value, will shut its equities research desk in India as part of the bank’s internal reorganisation, a spokeswoman said on Thursday. The Mumbai-based India equities research desk employed four people, she said, and they were all ... Read More »

Puerto Rico will default on $37m in debt on New Year’s Day, governor confirms

Island commonwealth faces close to $1bn in interest payments in 2016 but governor says it will do ‘all it can’ to avoid shutting down government services People watch as Puerto Rico’s governor, Alejandro Garcia Padilla, addresses the nation in a televised speech. Photograph: Alvin Baez/Reuters Puerto Rico has run out of time and money and will default on $37m of ... Read More »

Cadila Healthcare shares plunge after FDA warns of violations

Pharmaceutical tablets and capsules in foil strips are arranged on a table in this picture illustration taken in Ljubljana September 18, 2013. REUTERS/SRDJAN ZIVULOVIC/FILES Cadila Healthcare Ltd has received a U.S. Food and Drug Administration (FDA) warning letter for violating manufacturing standards at two of its production facilities, the latest in a series of Indian companies to face such action. ... Read More »

Amazon starts offering loans to customers with pay monthly option

Instalment loans offered to those spending over £400 in potential ‘gamechanger’ for UK furniture and electricals market Amazon dispatch centre in Hemel Hempstead, Hertfordshire. Photograph: Nick Ansell/PA Amazon has started offering loans to customers buying products off its website in a move that could shake up the UK furniture and electricals market. The world’s biggest online retailer is offering a ... Read More »

TRAI gets record public submissions for net neutrality rules

A picture illustration shows a Facebook logo reflected in a person’s eye, in Zenica, March 13, 2015. REUTERS/DADO RUVIC/FILES The Telecom Regulatory Authority of India (TRAI) said it had received record submissions on a consultation paper for framing differential pricing rules that will decide the fate of Facebook Inc’s (FB.O) free Internet in India. The telecommunications regulator said it will ... Read More »