Cincinnati-based retail giant Macy's Inc. has pulled a product after receiving backlash for its use of the phrase "mom jeans" to describe a portion size.
Natural gas output was 1.6% lower at 2.64 billion cubic metres during the same period, the data showed. Indian refiners processed 20.30 million tonnes of crude oil in June, the lowest since February. Among the key refineries affected by shutdowns in June were Reliance's 330,000 barrels-per-day (bpd) Jamnagar refinery and Indian Oil Corp's 120,000 bpd Barauni refinery.
The broader NSE Nifty dropped 1.53% to 11,419.25, while the benchmark BSE Sensex closed 1.44% lower at 38,337.01. Whatever hopes there were around the finance minister removing the surcharge on foreign investors have been dashed, said Neeraj Dewan, a director with Quantum Securities, New Delhi, adding that sentiment had also been dampened by weak earnings by some lenders. Finance Minister Nirmala Sitharaman said on Thursday that foreign portfolio investors could instead register as companies to avoid a new tax surcharge imposed on individual tax payers as well as trusts in the budget for ...
(Bloomberg) -- Vodafone Idea Ltd. has hired Bank of America Corp. and Morgan Stanley to help sell its fiber assets as India’s largest mobile carrier by users seeks to bolster its finances, people familiar with the matter said.The bankers will initiate discussions with potential buyers for the fiber assets, which could be valued at as much as 130 billion rupees ($1.9 billion), the people said, asking not be identified as the talks are private.A final decision has yet to be made on the valuation and the stake to be sold, and the company could bring in more banks for the sale, the people said. ...
(Bloomberg) -- A 78% drop in Yes Bank Ltd. shares since August has left founder and former chief executive officer Rana Kapoor some $1 billion poorer.The Indian lender, which late Wednesday reported earnings that showed its capital buffers had weakened and bad loan ratio widened, plunged as much as 20% on Thursday. That’s contributed to a drop in Kapoor’s net worth to $363 million from $1.4 billion on Aug. 20, according to the Bloomberg Billionaires Index.Kapoor, 61, built Yes Bank into India’s fourth-largest private lender over the 15 years since he co-founded the firm in 2004, until the ...
In the short term, Macy's is not likely to run afoul of dividend problems, but can management transform the company for long-term health? Few retailers have had such success.
(Bloomberg) -- Yes Bank Ltd., the Indian lender whose shares have lost more than half their value this year, now faces the challenge of raising capital after bad loans and provisions surged.News that the bank’s capital buffers have tumbled to the lowest allowed by Indian regulators has reinforced the urgency of Chief Executive Officer Ravneet Gill’s plan to raise $1.2 billion to shore up its balance sheet. But that task will be complicated by another share price plunge on Thursday.“The No. 1 priority for Yes Bank is to raise capital,” said Jaikishan Parmar, an analyst at Angel Broking. With ...
Levi Strauss (LEVI) stock fell 4.6% on July 17 after Goldman Sachs downgraded it to “sell” from “neutral.” Goldman Sachs cut its price target for Levi stock to $19 from $21. In addition, Goldman Sachs downgraded peers PVH (PVH) and Ralph Lauren (RL) to “sell” from “neutral” with a price target of $82 and $103, respectively. The rating downgrade reflects concerns about Levi's higher valuation compared to its peers.
MUMBAI/BENGALURU (Reuters) - Indian lender Yes Bank Ltd posted a 91% drop in quarterly profit on Wednesday, due to a nearly three-fold rise in provisions for loan losses, while asset quality deteriorated sharply. Net profit for the three months ended June 30 came in at 1.14 billion rupees ($16.57 million), compared with 12.60 billion rupees last year. The private-sector lender shocked markets with its first-ever loss in the preceding quarter, as it set aside higher provisions and logged fresh bad loans to the tune of 34.81 billion rupees, some of which were on account of its exposure to a ...
For ratings issued on a support provider, this announcement provides certain regulatory disclosures in relation to the credit rating action on the support provider and in relation to each particular credit rating action for securities that derive their credit ratings from the support provider's credit rating. For any affected securities or rated entities receiving direct credit support from the primary entity(ies) of this credit rating action, and whose ratings may change as a result of this credit rating action, the associated regulatory disclosures will be those of the guarantor entity. ...
Rating Action: Moody's affirms ten classes of GSMS 2012- GCJ7. Global Credit Research- 16 Jul 2019. Approximately $1.02 billion of structured securities affected.
Moody's rating action reflects a base expected loss of 7.1% of the current pooled balance, compared to 5.2% at Moody's last review. Please see for any updates on changes to the lead rating analyst and to the Moody's legal entity that has issued the rating.
Rating Action: Moody's affirms ten classes of UBSCM 2012- C1. Global Credit Research- 15 Jul 2019. Approximately $1.04 billion of structured securities affected.
