Apple at WWDC (Worldwide Developers Conference) event announced its all new music streaming service, offering a combination of music streaming, downloads and internet radio.

The music service will be launched on June 30th and it offers its users with a catalog of on-demand tracks for a monthly subscription price of $9.99. A family pass with six users will cost $14.99.The company is also providing a three month free trial of the service for its users, before they make a choice of purchasing it. It also features curated playlists and special collections curated by top artists, as the company reports in their official blog post.

L&T Kattupalli Port has begun export of trucks and cars with the maiden call of car carrier, M.V. Gardenia Ace on Monday.

With this, L&T Kattupalli Port has become the third port in Chennai to handle Roll-on Roll-off (RoRo) vessel for shipping cars, trucks, tractors and earth movers. The other two ports — Chennai Port Trust and Kamarajar Port Ltd. — are already handling truck and car shipments.

A city-bound Air India flight was grounded at Mumbai airport today by the aviation regulator Directorate General of Civil Aviation (DGCA) after it found that the crucial engineering documents relating to the plane were not updated.

This forced Air India to replace the aircraft, leading to a delayed departure of the city-bound flight from Mumbai via Aurangabad, sources said.

NEW DELHI: ITC Limited, one of India's leading multi-business conglomerate, has on the eve of the World Environment Day announced a rapid scale-up of its highly acclaimed Integrated Watershed Development Programme. The programme has already brought soil and moisture conservation to half a million acres in the country. The company targets to double the area to nearly 1 million acres by 2018.

NEW DELHI: As Reliance Industries nears completion of a significant capex cycle over next 12 months, return ratios are likely to improve in the medium term, driven by strong earnings accretion from core business and a rational strategy in telecom business, a brokerage said.

"RIL generated a dismal 7 per cent RoACE (Return on average capital employed) in FY2015 at the consolidated level, with an effective capital of $69 billion employed as of end-FY2015, including creditors for capital expenditure.

Banking stocks are gaining across the exchanges after the Reserve Bank of India (RBI) gave a nod to the banks to take control of debt-laden companies by existing debt into equity, if a debt restructuring fails to revive them within a timeframe.

In cases of restructuring of accounts, borrower companies are not able to come out of stress due to operational/ managerial inefficiencies despite substantial sacrifices made by the lending banks.

Shares of Tata Motors have shed about 10%, closing lower for seven consecutive trading sessions on weak March quarter performance and worries about a slowdown in China. The stock is down 28% from its highs (Rs 605) posted in February 2015.

China's share of overall JLR volumes came down from 28% in 9MFY15 to 15% in the March quarter. This was due to falling luxury car demand in China and the phasing out of imported Evoque and slower ramp up of the Made in China version.

South Korea's Hyundai Motor Group, squeezed by slowing sales, plans to cut domestic operating expenses, with the savings depending on its sales performance in the third and fourth quarters, a spokesman said on Tuesday.

Hyundai Motor Co and its sister company, Kia Motors Corp, saw their global annual sales drop 6% and 5%, respectively, in May. Hyundai Motor shares are down about 20% in 2015, making them the worst performer among major global automakers.

It pays to be at the helm of India’s largest information technology (IT) services provider. Literally. N Chandrasekaran, chief executive officer (CEO) and managing director of Tata Consultancy Services, received Rs 21.28 crore as total compensation in 2014-15, up 13.9 per cent from Rs 18.68 crore last year. This total remuneration for the financial year 2014-15 does not include dividends from 88,528 shares he owns in the company.

Chandrasekaran was also the highest salary receiver for FY15 when compared to CEOs of competing firms. His salary of Rs 21.28 crore (around $3.35 million) was higher than Infosys CEO Vishal Sikka’s $716,539 (around Rs 4.5 crore), T K Kurien, Wipro CEO’s annual salary of $1.5 million (around Rs 9.6 crore) and Cognizant’s Francisco D’Souza’s annual salary of $1.15 million (Rs 7.3 crore).

The government’s decision to auction coal linkages for non-regulated sectors is reason enough for Coal India’s investors to cheer.

The fresh auctions can lead to improved realisations for supplies to non-power sectors, which accounted for about 12% of Coal India’s FY15 production, as per analysts.

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