The Australian dollar traded lower versus the greenback as Australian business’ reported a 2.9 percent operating loss in the third quarter while inventories increased by 1.1 percent suggesting the overall economic climate appears to have slowed.
American Apparel Inc. dropped in U.S. trading after saying it received a subpoena from the U.S. attorney’s office over changing accounting firms and that operating losses may result in its breach of a debt covenant.
A healthy 14 per cent jump in passenger traffic during the April-January period of this fiscal has helped the ailing national carrier Air India bring down its operating losses by around Rs 1,300 crore, according to a senior airline source.
In the geeky but important category, the California legislature attempted but failed to pass a budget that included a provision that effectively repudiated the recent Treasury directive to eliminate the limitation on acquiring banks' ability to...
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