India Finance and Business news

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RIL Surges 4% After Telecom Regulator Slashes Interconnect Charges
NDTV Telecom regulator TRAI on Tuesday said that interconnect usage charges (IUC) for mobile calls will be cut to 6 paise a minute from 14 paise, effective October 1. It then plans to abolish the fee entirely from the start of 2020. Business | NDTV Profit ... ---

Tata Steel, thyssenkrupp AG sign MoU for their European steel assets
Tata Steel, thyssenkrupp AG sign MoU for their European steel assets The flat steel business of the two companies in the Europe will be combined along with thyssenkrupp#39;s steel mill services.

ITC To Resume Cigarette Manufacturing
ITC manufactures a range of cigarette brands, including India Kings, Classic, Gold Flake, Navy Cut, Capstan, Bristol, Flake, Silk Cut, which are manufactured at plants in Bengaluru, Munger, Saharanpur...

India seeks to speed up foreign deals with 'one-stop shop'
The Finance Ministry, seeking to speed up deals with outside investors, is set to take full control of the oversight of more than $40 billion a year in foreign direct investments and share purchases, two government sources said.

Modi govt finds a fix for India's big economic worries; remedial measures on cards
Modi govt finds a fix for India's big economic worries; remedial measures on cardsThere has been concern in the govt over growth slumping to a 3-year low of 5.7% in the April-June quarter due to GST rollout and lingering impact of note ban.

US STOCKS-Futures higher as Irma weakens further; Apple in focus
* Futures up: Dow 47 pts, S&P 3.75 pts, Nasdaq 10 pts By Sruthi Shankar Sept 12 (Reuters) - U.S. stock index futures were slightlyhigher on Tuesday as Irma weakened further into a post-tropicalcyclone and investors awaited the highly anticipated launch ofthe new iPhone. * Apple, the world's biggest company by marketcapitalization, is expected to unveil the 10th anniversaryedition of the iPhone at an event that starts at 1:00 p.m. ET(1700 GMT) * Irma, one of the most powerful Atlantic hurricanes,weakened to a post-tropical cyclone on Tuesday, allayingconcerns about its impact to the economy. * The S&P 500 climbed to a record high close on Monday asconcerns over Irma faded and North Korea did not test-firemissiles over the weekend as some had feared. * However, North Korea on Tuesday rejected a United NationsSecurity Council resolution imposing tougher sanctions, and saidthe United States would soon face the "greatest pain" it hadever experienced. * The U.N. unanimously stepped up sanctions againstPyongyang on Monday over the country's most powerful nucleartest on earlier in the month, imposing a ban on North Korea'stextile exports and capping imports of crude oil. * In economic data, the Labor Department is expected torelease its monthly job openings and labor turnover surveyreport for July at 10:00 a.m. ET. Job openings rose to 6.163million in June. * Apple's shares were up 1.05 percent ahead of the iPhonelaunch. * Sage Therapeutics slumped 23.18 percent after itsdrug to treat a life-threatening seizure disorder failed to meetthe main goal of a late-stage trial. * DowDupont rose 2.47 percent after the company,which was formed when chemical giants Dow Chemical and DuPontmerged, said it was making changes to its initial plans ofsplitting the company into three units. * U.S.-listed shares of Teva rose 7.35 percentafter the drugmaker agreed to sell its contraceptive brandParagard to a unit of Cooper Cos for $1.1 billion.

Futures snapshot at 7:01 a.m. ET (1101 GMT): * Dow e-minis were up 47 points, or 0.21 percent,with 7,684 contracts changing hands. * S&P 500 e-minis were up 3.75 points, or 0.15percent, with 127,326 contracts traded. * Nasdaq 100 e-minis were up 10 points, or 0.17percent, on volume of 8,937 contracts.(Reporting by Sruthi Shankar in Bengaluru)

L.L. Bean rebuffs boycott over granddaughter’s big Trump donation
L.L. Bean rebuffs boycott over granddaughter’s big Trump donationA man wipes off the headlights of the L.L. Bean Bootmobile in the parking lot at the facility where the famous outdoor boot is made. L.L. Bean is pushing back against a boycott led by a group urging consumers not to shop at retailers that support President-elect Donald Trump after it was revealed that Linda Bean, heir of the Maine-based company’s founder, had donated to a political action committee that helped elect Trump. “We are deeply troubled by the portrayal of L.L. Bean as a supporter of any political agenda,” Shawn Gorman, L.L. Bean’s executive chairman, said in a statement posted to Facebook late Sunday.