For the week, the Dow fell 0.6 percent and the S&P 500 dipped 0.3 percent. The Nasdaq gained 0.3 percent for the week after strong gains in some technology shares.
With Wells Fargo & Co’s (WFC.N) revenue slumping and no clear end in sight for sales scandal-related costs, analysts have pushed back predictions for when the bank’s closely watched efficiency ratio will return to pre-scandal levels.
Three banks and two aircraft leasing firms have served default notices on Air India over the last few weeks, the Business Standard newspaper reported , raising concerns about the government-owned carrier’s state of finances and credit-worthiness.
U.S. stock indexes were little changed on Friday as a slide in financials on the three big Wall Street banks reporting mixed results was offset by gains in industrials as the U.S.-China trade rhetoric eased overnight.
Wells Fargo & Co (WFC.N) on Friday reported a bigger-than-expected drop in quarterly profit, as lending activity slowed and it recorded higher expenses.
U.S. stock index futures bounced back on Thursday, from a drop a day earlier on renewed fears of a Sino-U.S. trade war, as oil prices rose and a couple of big deals helped rekindle optimism as the earnings season kicks off.
Pfizer Inc (PFE.N) said it was deferring drug price increases for no more than six months after the company’s chief executive officer had an extensive conversation with U.S. President Donald Trump.
Citigroup Inc is facing a unique dilemma among the four largest U.S. banks: it is light on deposits from individuals, an important funding source that costs little and tends to stick around.
Wells Fargo & Co said on Friday a district court in California approved a $142 million class-action settlement to compensate customers who were affected by a sales scandal.
Nestle plans to combine its scientific research operations into a single unit in an attempt to speed up development of new products at a time when competition from smaller rivals is intensifying.
Aircel moves SC to make Airtel clear dues
Alleges that the co withholding Rs453 Cr of bank guarantees paid on its behalf
Bank guarantees have lapsed and Aircel wants Airtel to pay the money
Alleged that Airtel is trying to usurp the sum
Aircel says without the money it may get liquidated
Bain joins KKR in race for Max Healthcare stake
PE firms look to buy 47% stake from Life Healthcare for $450-540 Mn
To decide on buy back of shares on Aug. 20
JET AIRWAYS CLARIFIES
Co planning $400 Mn stake sale is speculative in nature
Jet Auditor BSR may quit if issues are not resolved is factually incorrect
Have been pro-actively working on multiple revenue enhancements
Evaluating various funding options to meet liquidity requirements on priority
Relationship with Etihad Airways very strong
No delays in discharging any loan obligations to any of the lenders
Default status in tabular statement only due to technical errors, rectified now
Clarifies that reports of stake sale are purely speculative
Also Clarifies that rumors of auditor quitting if issues not solved are factually incorrect
Seeks lenders help in bid to avoid default
Airline wants waiver of loan covenant on existing debt facility of $185mn
Co has to repay or refinance at least $500mn of existing debt to avoid default
Told lenders it won’t be able to meet min $50mn profit condition for FY19
Consortium of lenders yet to decide on Jet’s request
Airline’s total debt was Rs 9430 Cr as on 31st March 18
NSE TO JET AIRWAYS
Have noticed a difference in your responses dated August 9 & 10
Clarify whether mgmt extension from audit committee as per Aug 10 response
Or did Audit Committee not recommend results to board as per Aug 9 response?
In Aug 10 response, details of "Certain Matters Not Closed" not provided
Provide exact reasons for which audit committee has not approved results
Again ask you to give us date when board meet to consider results will be held