Live! Nestle India reports Q2 loss as noodle scare hits sales

The unit of Swiss food giant Nestle SA said on Wednesday that net loss for its second quarter ended June was  Rs 644 million ($10 million), compared with a profit of Rs 288 crore or Rs 2.88 billion a year earlier.Sales fell 20 per cent to Rs 1934 crore or  19.34 billion.The company...

Global rice prices are likely to surge by 10 percent to 20 percent in the next few months as an El Nino weather pattern grips top producers in Asia, baking the region's croplands and whittling down stocks of the grain to multi-year lows. While higher prices of a key staple would be bad news for...

The Central Board of Excise and Customs said businesses can store documents in electronic form and allowed digitally signed invoices, a move aimed at improving ease of doing business and reducing cost of transaction.As part of the government's initiative to facilitate trade, CBEC has been taking...

Vedanta Ltd today reported a 35.44 per cent fall in net profit to Rs 865.94 crore for the June quarter on a consolidated basis on account of volatile commodity prices among other factors.    Billionaire Anil Agarwal-led mining conglomerate hadreported a net profit of Rs 1,341.23 crore...

Expressing reservations over the Centre's proposed goldmonetisation scheme, chief of Parliamentary panel on finance Veerappa Moily onWednesday said the government should revisit it as it is unlikely to take off withthe existing conditions.     The committee would examine the scheme...

Gold remained weak for the second day as it fell marginally by Rs 10 to Rs 25,290 per ten grams at the bullion market today owing to slackened demand from jewellers, while ignoring a firming trend overseas.             Silver, however,...

General Motors Co will invest $1 billion in the next few years to turn operations in India into a new global auto manufacturing and export hub aimed at boosting sales in fast-growing emerging markets, top executives said on Wednesday.  The investment is part of GM's plan to invest $5 billion...

Oil prices fell in Asian trade on Wednesday as concerns over global oversupply outweighed the impact of a likely larger than expected draw in US crude stocks and a weakening dollar.Asian investors focused on OPEC production figures that showed members of the Organization of the Petroleum...