Standard Chartered posts loss as loan impairments hit new high

    CEO Bill Winters is attempting to unwind the damage caused by predecessor Peter Sands’ revenue-led expansion across emerging markets, which left the bank riddled with bad loans when commodity market crashed and growth stalled from China to India. Photo: Reuters London: Standard Chartered Plc reported a surprise full-year loss as loan impairments almost doubled to […]

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    LIC’s profit seen slumping as choppy markets take a toll

    Photo: Rituparna Banerjee/Mint Mumbai: Life Insurance Corp. of India (LIC) is expected to post a year-on-year decline of 40% in profit-booking on equity investments in 2015-16, as choppy markets take their toll on the country’s largest investor. LIC is expected to book a profit of Rs.15,000 crore on equities in the year to 31 March, […]

    HP announces new machine learning as a service offering

    Technology major Hewlett-Packard Enterprise (HPE) today announced the commercial launch of Haven OnDemand, a cloud platform that provides advanced machine learning application programme interfaces and services that enable developers, startups and enterprises to build data-rich mobile and enterprise applications. The company also announced a new version of Idol analytics platform, which applies data analytics and […]

    Deutsche Bank declines as Moody’s signals downgrade risks

    A file photo of the headquarters of Germany’s Deutsche Bank in Frankfurt. Photo: Reuters New York: Deutsche Bank AG extended declines after Moody’s Investors Service signalled it may cut the German lender’s credit rating amid concern that it will struggle to restructure businesses. “Since changing leadership last June and recalibrating its strategic plan last November, […]

    Credit Suisse to axe 2,000 more jobs as revenue slumps

    A file photo of the Credit Suisse office in Milan. This year investment banking revenues have been hit by record low interest rates. Photo: Reuters Zurich: A slump in investment banking revenues prompted Credit Suisse on Wednesday to accelerate its restructuring plan and cut a further 800 million Swiss francs ($821 million) of costs. The […]

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    Microsoft to End PC Gaming as We Know It: Gears of War Developer

    Universal Windows Platform (UWP) is a programming application for Windows 10 developers that lets them create a single version of software to run across all Windows devices including PCs, smartphones, tablets, and the Xbox One. The company is slated to unveil more UWP details at its Build event this month. However UWP has also gained […]

    Domestic venture capital funds proliferate as HNI interest in start-ups grows

    Anil Joshi, co-founder of Unicorn India Ventures, says the number of people who see start-ups as an investment asset class has grown in the last one-and-a-half years. Photo: S. Kumar/Mint Mumbai: Domestic early-stage venture capital (VC) funds are proliferating in an effort to tap increasing demand from rich individuals and investment offices of business families […]

    As start-up funding slows, venture capital firms back in the driver’s seat

    Even some well-funded start-ups are feeling the heat. Last week, grocery delivery start-up Grofers shut operations in nine cities, citing poor demand. Photo: Ramesh Pathania/Mint Venture capital (VC) firms are again wielding strong control over their portfolio companies, as a funding slowdown helps shift power back to the investors after more than a year when […]

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    Budget pegs Rs72,394 crore as education outlay for 2016-17

    As part of the pending move, all education credentials of students from Class X onwards would be digitized and kept in a demat format. Photo: Priyanka Parashar/Mint New Delhi: The Union budget on Monday allocated Rs.72,394 crore to education in the 2016-17 financial year, an increase of around 5% over the 2015-16 estimate. Of the […]

    Ola appoints Raghuvesh Sarup as chief marketing officer

    One of the so-called unicorn start-ups in India, Ola has closed over $1.3 billion of external funding so far. Photo: Hemant Mishra/Mint Bengaluru: Taxi-hailing service Ola, owned by ANI Technologies Pvt. Ltd, has appointed Raghuvesh Sarup as chief marketing officer (CMO) to strengthen its core leadership team as the company prepares to expand its lead […]