Unitech makes bulk of its Apr-June sales in NCR

Unitech Ltd, the second largest real estate developer in the country, sold properties worth Rs 1,299 crore during the first quarter of this financial year, predominantly for housing. The company sold areas worth 3.01 million sq ft in the quarter, of which 2.61 million sq ft were sold in the residential space. The residential segment contributed Rs 987 crore of the total sales bookings of Rs 1,299 crore. Unitech had sold 16.6 million sq ft of area amounting to Rs 7,033 crore in 2009-10. The National Capital Region (NCR) contributed Rs 1,110 crore of the total sales booking of Rs 1,299 crore. However, in terms of average realisation, the non-residential segment fared better at Rs 7,784 per sq ft, while residential space was sold at an average price of Rs 3,782 per sq ft.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

Gopinath partners Tatas for charter air service

Following on his partnership with the Mukesh Ambani-led Reliance Industries (RIL) for a cargo airline venture, aviation entrepreneur G R Gopinath has now joined hands with the Tata Group for a charter air service. The two deals with two of the country’s largest business houses have come in less than four months for Gopinath, who had founded the country’s first budget airline Air Deccan, which he later sold to the Vijay Mallya-run Kingfisher Airlines. Gopinath first dallied with the aviation space through a private sector commercial helicopter service, Deccan Aviation, in the late 1990s, which he followed with the launch of Air Deccan in 2003. After selling Air Deccan in 2007 to Kingfisher Airlines, Gopinath started a cargo airline, Deccan 360, and in April 2010, roped in RIL as a “strategic investor”.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

Cadbury boost for US food group Kraft's profits

US food giant Kraft has reported higher-than-expected first quarter profit, helped in part by its purchase of UK confectionery maker Cadbury. Kraft said net profit was $937m (£590m), up from $827m in the same period a year earlier earlier. Net revenue rose 25.3% to $12.3bn, boosted by the addition of Cadbury, which it acquired in a controversial takeover at the beginning of the year. Kraft was criticised for breaking pledges over Cadbury plant closures. Our first quarter results are early evidence of our future potential in combination with Cadbury, said Irene Rosenfeld, Kraft chairman and chief executive.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

Chipmaker Intel settles FTC antitrust lawsuit

US chipmaker Intel has settled an antitrust lawsuit filed against it by the US Federal Trade Commission (FTC). Charges that Intel had "illegally stifled competition" have been resolved, the FTC said. Intel had been accused of "a systematic campaign to shut out rivals's competing microchips by cutting off their access to the marketplace". Intel is the world's largest chipmaker, making 80% of the microprocessors for the world's personal computers. There were no details on any money changing hands as a result of the settlement. Intel had been accused of bullying computer makers into avoiding rivals' chips. The practice was said to be harmful to consumers.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

AIG reports $2.7bn second quarter loss

US insurer AIG swung to a $2.7bn (£1.7bn) loss in the second quarter after taking a big charge related to the sale of one of its foreign subsidiaries. AIG took a $3.3bn charge linked to the sale of Alico, its second-largest foreign life insurance business. The loss compared with a net profit of $1.8bn in the same period last year. On an adjusted basis, AIG made a $1.3bn profit. The group said its continuing operations remained solid. AIG is 80%-owned by the US government after it was bailed out out for $182bn at the height of the financial crisis. AIG's continuing insurance operating results remain solid, while the company continues to execute on its restructuring plans and prepares for separation from the US government, commented AIG chief executive Robert Benmosche.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

RBS half-year profits hit £1.1bn

Royal Bank of Scotland's pre-tax profit has risen to £1.14bn in the first half of the year from £15m a year earlier. The bank reported an operating profit of £1.6bn compared with an operating loss of £3.4bn in 2009. RBS, which is 84%-owned by the taxpayer, has announced 23,000 job losses worldwide since October 2008, including 17,100 in the UK. It also announced it had sold an 80% stake in its payments business GMS, in a deal which valued the unit at £2bn. RBS's results follow upbeat performances from Barclays, HSBC and Lloyds. Chief executive Stephen Hester said the bank's five-year restructuring plan was "on track". RBS said that it had provided £14.4bn of gross new loans to small businesses, but that net lending to such firms fell - as companies paid back more debt than they took on. Banks have been criticized for not doing enough to support firms during the economic downturn. Like its rivals, RBS insists that in the current climate it cannot lend faster than its customers want to repay their existing debts.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

Manchester United sign Hong Kong mobile deal with PCCW

Manchester United has signed a deal with Hong Kong firm PCCW for it to become the telecoms and broadcast partner of the club in the region. The club says it is the first such deal it has signed there, adding to its growing number of overseas deals. it means PCCW's Now TV, Hong Kong's largest pay-TV provider, will for three years be the official broadcaster of football club channel MUTV. The service from PCCW will also be available online and on mobile phone. PCCW and Manchester United have also jointly developed a promotional microsite, in Chinese and English, for local Man Utd fans. The club is looking to extend its number of sponsorship and partnership deals in different global geographic markets.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

BHP Billiton launches hostile bid for Potash

Mining giant BHP Billiton has launched a $40bn (£25.8bn) hostile takeover bid of Canadian firm Potash Corp after having had an initial offer rejected. On Tuesday, Potash, the world's largest fertiliser producer snubbed BHP's offer, saying it undervalued the firm. BHP has offered to buy Potash for $130 per share. Demand for fertiliser is expected to increase this year because of rising demand for meat in emerging markets, as more crops are needed to feed cattle. The acquisition will accelerate BHP Billiton's entry into the fertiliser industry and is consistent with the company's strategy of becoming a leading global miner of potash, BHP said in a statement.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

Wal-Mart feels the squeeze in US

Wal-Mart, the world's largest retailer, has reported quarterly profits up 3.6%, although sales in its home US market fell for the fifth quarter in a row. Wal-Mart's profits rose to $3.6bn (£2.3bn) helped by cost-cutting and growth in international markets. But Wal-Mart sounded a note of caution, saying the slow economic recovery would "continue to affect" customers. Meanwhile, UK supermarket chain Asda, which is owned by Wal-Mart, saw like-for-like quarterly sales drop 0.4%. It is the second quarter in a row that Asda, which is the UK's second biggest supermarket group, has seen its sales drop. It saw its first sales fall for four years, of 0.3%, in the first quarter of 2010. Wal-Mart International president and chief executive Doug McMillon warned UK trading conditions were likely to remain tough.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

Maruti restarts selling LPG WagonR in old version

With the development of an LPG variant of its latest generation WagonR yet to be complete, the country's largest car-maker, Maruti Suzuki India, has resumed selling the alternate option in the old version of the model. After launching the new generation WagonR in April, the company had discontinued the 'Duo' variant of the old WagonR, which had both petrol and LPG options. We are now selling the 'Duo' and it will continue till the LPG variant of the new WagonR is ready. The work on new LPG is going on," Maruti Suzuki India (MSI) Chief General Manager (Marketing) Shashank Srivastava said. 'Duo' was contributing about 20-22 per cent of total WagonR sales, which stood at 10,000-12,000 units a month and the LPG variant is priced at Rs 3.68 lakh (ex-showroom Delhi).

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

Micra pushes Nissan India July sales to 1,005 units

Nissan Motor India Pvt (NMIPL) today said it has registered total sales of 1,005 units in July 2010, with its newly-launched compact car Micra clocking 928 units. The company had started nationwide sales of the Micra on July 15 and has sold 928 units, NMIPL said in a statement. The Micra, which was opened for bookings prior to its launch in July, has till date received more than 3000 bookings, the company said. Commenting on the July sales, NMIPL managing Director and CEO Kiminobu Tokuyama said: "This is just the beginning. However, we are happy and delighted at the initial response the Nissan Micra has received from the Indian customers.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

HSBC sees profits double to $11bn

The UK's biggest bank HSBC has reported pre-tax profits of $11.1bn (£7bn) for the first six months of 2010 - more than double its profits for the same time last year. The bank said it was profitable in every region, except for North America where it saw losses of $80m. In the UK, profits totalled $2.1bn - a rise of 26%. The UK's other major banks Lloyds, Barclays and RBS are due to report their results later this week. HSBC shareholders will receive a second dividend this year, totalling $1.4bn, in addition to the one announced earlier this year.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

Foxconn reopens Indian factory

The iPhone manufacturer Foxconn has reopened a factory in India which was shut down temporarily when 250 workers fell sick, sending its shares up 9%. The plant in Madras (Chennai), which makes mobile phone parts, was closed last Monday after workers complained of nausea and giddiness. Work resumed on Saturday after the firm received clearance from the government. Working conditions at Foxconn factories have caused concern, after a string of suicides this year at a plant in China. The company has said it is taking the deaths seriously, even though a local government investigation did not blame working conditions.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

BNP Paribas profits boosted by retail banking

French bank BNP Paribas has seen its second-quarter profit grow, thanks to gains in its retail banking division offsetting declines in its investment banking operations. Net profit for the three months to July rose 31% from a year earlier to 2.1bn euros ($2.7bn; £1.75bn). Retail banking saw "huge revenue growth" driven by strong demand for mortgages, BNP said. But revenues at its investment banking division dropped 30%. BNP was one of 91 European banks to undergo EU stress tests last month, designed to assess banks' ability to withstand future financial crises. It and 83 others passed the tests.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

Northwest Airlines agrees to pay $38m price-fixing fine

Northwest Airlines is to plead guilty and pay a $38m (£24m) fine for its role in fixing air-cargo prices, the US Department of Justice has said. The department said as part of a plea deal Northwest would co-operate with an ongoing anti-trust investigation. Northwest Airlines Cargo, which is no longer operating, conspired to fix air-cargo rates from July 2004 to February 2006, the department added. Northwest was taken over by Delta Air Lines in a £1.7bn deal in October 2008. Northwest has agreed to plead guilty to a single offence, said the DoJ. So far a total of 16 airlines have pleaded guilty or agreed to do so in an ongoing investigation into price-fixing in air cargo, it added.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

BP boss Dudley says oil clean-up will be scaled back

Incoming BP chief executive Bob Dudley has said it is time to scale back some parts of the oil spill clean-up in the Gulf of Mexico. Virtually no oil has been released into the Gulf since a new cap was closed on 15 July. And skimming crews have reported only tiny quantities of oil out at sea. But Mr Dudley insisted BP's commitment to tackling the environmental damage would continue, saying: "We'll be here for years."You will see the evidence of a pullback because we have booms across the shores all the way from Florida to Louisiana. Those only last for a certain number of tide cycles," Mr Dudley told reporters in Biloxi, Mississippi.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

Durex maker accepts $3.9B bid by Reckitt Benckiser

SSL International PLC, maker of Durex condoms and Scholl foot care products, said Wednesday that its board is recommending a 2.54 billion pounds ($3.9 billion) takeover offer from Reckitt Benckiser PLC, the producer of Vanish, Lysol and Clearasil. Reckitt Benckiser said its offer of 1,163 pence per share plus a final dividend for last year of eight pence represents a premium of 33 percent over SSL's share price on July 20. We view this as a very good price for SSL shareholders, and an excellent strategic fit for Reckitt Benckiser, said Damian McNeela and Graham Jones, analysts at Panmure Gordon & Co. We do not see a counter offer being made and expect shareholders to accept the offer.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

Consumers love 'underdog' brands

As in most things, people, this time in the garb of consumers, root for the company that is perceived to be a weak one. A team of researchers, including an Indian-origin scientist, has revealed that consumers strongly relate to brands that they perceive as underdogs. Across contexts, cultures, and time periods, underdog narratives have inspired people. Stories about underdogs are pervasive in sports, politics, religion, literature, and film, said authors Neeru Paharia, Anat Keinan, Jill Avery and Juliet B. Schor.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

Sony targets Kerala for 'Onam'

Consumer electronics major Sony India today said it was targetting Rs 100 crore turnover during the 'Onam' festival in August in Kerala and consolidating its position as the top brand in the state. Aiming to consolidate its position as the top brand in consumer electronics in Kerala, Sony India has set a target of 45 per cent growth for the festival this year," Sunil Nayyar Senior General Manager Sales, told reporters here. The company would focus on Bravia LCD televisions,Cyber shot cameras and Home Theatre systems and would aggresively promote the products to achieve the ambitious target figures, he said.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

Sky Sports broadcast costs set to rise

Sky is putting up the price of its Sky Sports channels, raising the cost to BT and Virgin of broadcasting live events such as Premier League football. BT announced on Thursday it will charge customers £16.99 a month for both Sky Sports 1 and Sky Sports 2, or £11.99 for just one of the channels. But the wholesale cost of the channels to BT will rise to £19.07 in September. This is because the wholesale cost is directly linked to the price that Sky charges its customers. Sky is increasing the retail price of its sports channels from £35 to £38 in September. For customers who want just Sky Sports 1 or Sky Sports 2, the cost will rise from £26 to £29. Sky told the BBC that it tended to review its prices in September each year, and would introduce the £3 increase to cover the costs of a new three-year deal to broadcast live Premier League football.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR

Bank of China to raise up to $8.9bn in share issue

The Bank of China says it plans to raise up to 60bn yuan ($8.9bn;£5.9bn) by issuing new shares in Hong Kong and Shanghai. It is part of a $42bn fund-raising effort by China's four biggest lenders, designed to boost their capital bases. The Agricultural Bank of China is preparing for what is expected to be the world's largest share issue. The banks have to boost their balance sheets after increasing lending as part of government stimulus measures. The government has ordered them to keep more money in reserve after they embarked on a massive lending programme which left reserves out of kilter with loans oustanding.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

Toyota recalls 270,000 vehicles over faulty engine fear

Toyota is to recall 270,000 cars worldwide - including 138,000 vehicles in the US - because of an engine fault. Toyota said the recall included seven luxury Lexus models - some of them in the UK - and the popular Toyota Crown. The latest quality problem follows the recall of more than 8m vehicles which had problems with sticking accelerator pedals earlier this year. The company was fined $16m (£10.6m) in the United States for its slow response to the accelerator fault. The company is still facing more than 200 lawsuits tied to accelerator accidents.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

HSBC buys RBS' India biz worth $1.8 bn

The Hongkong and Shanghai Banking Corporation announced it will acquire the Indian business of Royal Bank of Scotland worth USD 1.8 billion, a move that will help the British giant gain greater exposure in the country. RBS's retail and commercial banking businesses in India currently have 1.1 million customer relationships served by over 1,800 staff through 31 branches. HSBC expects to complete the acquisition through its Indian subsidiary by the first half of 2011. The total consideration will comprise a premium of up to USD 95 million over the tangible net asset value of the businesses being acquired at the closing of the transaction, less an adjustment equal to 90 per cent of any credit losses incurred on the unsecured lending portfolio in the two years subsequent to deal completion, HSBC said in a statement here.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

Times begins charges for online readers

The Times newspaper has begun charging readers to access its online content. From now on, access to the Times and Sunday Times website will cost £1 per day, or £2 a week if readers sign up to a subscription. News International, which owns the papers, announced plans to impose charges earlier this year in response to falling advertising income. Currently the Financial Times and the Wall Street Journal are the only major papers to have similar paywalls. All other national papers offer free access to their sites, but are likely to watch the launch of the Times paywall closely. Falling readership numbers and advertising revenues have put significant pressure on newspapers in recent years, and devising the best way to make money from content is seen as a major challenge for the industry.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

Sky Sports broadcast costs set to rise

Sky is putting up the price of its Sky Sports channels, raising the cost to BT and Virgin of broadcasting live events such as Premier League football. BT announced on Thursday it will charge customers £16.99 a month for both Sky Sports 1 and Sky Sports 2, or £11.99 for just one of the channels. But the wholesale cost of the channels to BT will rise to £19.07 in September. This is because the wholesale cost is directly linked to the price that Sky charges its customers. Sky is increasing the retail price of its sports channels from £35 to £38 in September. For customers who want just Sky Sports 1 or Sky Sports 2, the cost will rise from £26 to £29. Sky told the BBC that it tended to review its prices in September each year, and would introduce the £3 increase to cover the costs of a new three-year deal to broadcast live Premier League football.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).