Expanding its footprints across avenues, Uber Technologies has introduced its own auto leasing subsidiary to sign up more drivers. The step has led the company directly into financial services sector for the first time.

The launch of this pilot project follows the end of its partnership with Banco Santander’s U.S. lending unit earlier this year. The latter, declined to comment on why Uber broke the deal.

Country’s largest carmaker Maruti Suzuki India (MSI) today said sales of its compact sedan DZire have hit the 10 lakh mark in the domestic market.

Launched in 2008, Maruti Suzuki DZire has been a category leader and has helped MSI strengthen its presence in the entry sedan segment.

ITC Ltd on Thursday posted a subdued 3.61 per cent rise in net profit at Rs 2,265.44 crore for the first quarter ended June 30, due to pressure on cigarette sales and sluggish demand for other FMCG products.

The Kolkata-based company had posted a net profit of Rs 2,186.39 crore during the same period of 2014-15 fiscal.

Homegrown auto major Mahindra & Mahindra will launch its new compact SUV named TUV300 in mid September as it looks to enhance its position as a leading manufacturer of utility vehicles in India.

“The TUV300 is a compact sub-four metre SUV. This will be a true blue SUV and not a crossover that is mainly the case in the market now,” M&M Executive Director Pawan Goenka told PTI.

State-run Bank of Baroda today reported 22.74% decline in net profit at Rs 1,052.15 crore during the first quarter ended June 30, on higher provision for bad loans and wage revision.

The bank had reported a net profit of Rs 1,361.88 crore in the corresponding first quarter of the previous fiscal.

Auto major Maruti Suzuki India (MSI) plans to accelerate new product launches in the country in line with its vision of selling 20 lakh cars per annum by 2020.

The company, which sells various popular models including Alto and Swift, is looking to have a localisation content of around 85% on an average across its premium and volume products.

Committing to improve the quality of service, the Income Tax Department today said it has addressed 85 per cent of the taxpayers' grievances and is working to improve the systems further.

"The disposal of grievances received through Centralised Public Grievance Redress and Monitoring System (CPGRAMS) has improved considerably. From April 1, 2014 to July 22, 2015 the overall disposal rate of grievances received on public grievances portal of the government works out to 85 per cent," a release said.

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 Exporting Countries produced around 3 million barrels of oil per day more than daily demand in the second quarter, a Reuters survey showed.

Shares of ITC have dipped 3% at Rs 301 on the National Stock Exchange (NSE) ahead of its April-June quarter (Q1) results tomorrow.

Analysts on an average is expected the cigarettes major will report 10% year-on-year (YoY) increase in net profit at Rs 240 crore and single digit growth in net sales at Rs 945 crore for the recently concluded quarter.

Refiner Bharat Petroleum Corp Ltd is set to import a rare cargo of Sokol crude from Russia's Far East as it takes advantage of a regional glut to secure cheaper oil.

BPCL bought 1 million barrels of Sokol from Statoil ASA, traders said. It was BPCL's first purchase of the Russian crude grade, according to an industry source with direct knowledge the matter.

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