Cisco posts loss on $11.1 billion tax-related charge
Washington: Network gear maker Cisco Systems Inc posted a net loss on Wednesday due to an $11.1 billion charge related to recent changes to the U.S. tax law.
The company posted a net loss of $8.8 billion, or $1.78 per share, in the second quarter ended Jan. 27, compared with a profit of $2.3 billion, or 47 cents per share, a year earlier.
Quarterly revenue rose 2.7 percent to $11.9 billion, the first rise in more than two years.
The company said its board approved a $25 billion increase to its stock repurchase plan.
Shares of Tesla Inc (TSLA.O) fell more than 4 percent in trading before the bell, after a report that the electric car maker has turned to some suppliers for a refund of previously made payments in a bid to turn a profit.
U.S. private equity firm Blackstone Group (BX.N) has secured EU antitrust approval to acquire a majority stake in Thomson Reuters’ (TRI.TO) Financial and Risk unit, the European Commission said.
European Commission President Jean-Claude Juncker will not arrive in the United States for talks with U.S. President Donald Trump with a specific trade offer, the Commission said.
Kejriwal welcomed the SC's order that said there cannot be a "complete ban" on holding protests and sit-ins at places like Jantar Mantar and Boat Club.
Oilfield services provider Halliburton Co’s (HAL.N) quarterly revenue jumped 24 percent as higher oil prices encouraged U.S. oil and gas producers to put more rigs to work.
The station, which was named after Lord Elphinstone, the Governor of Bombay Presidency from 1853 to 1860, has now been renamed in honour of a local deity.
Lavasa -an ultimate getaway, a city that would offer the charms of European locales, with five star comforts in a scenic part of Maharashtra has now become an abandoned town.
A second chargesheet by the ED has confirmed the trail of illegal cash Mallya transferred to his accounts across global tax havens.
Delayed payment by GMR-led DIAL, the Delhi airport operator, to the CISF guards could eventually lead to passengers paying more to fly out of the Indian Capital.
The West Bengal Police has claimed to have busted a Rs 100 crore plus job racket in the Indian Railways following a crucial arrest in the Indian Capital.