World Business News

Calcutta, Oct. 26: The United Bank of India (UBI) has reported a 16 per cent growth in net profit for the second quarter ended September at Rs 144.64 crore against Rs 124.77 crore in the same period a year ago.

Mumbai, Oct. 26: ICICI Bank today reported a 30 per cent increase in standalone net profits at Rs 1,956 crore in the second quarter ended September 30, easily beating estimates on the Street.

Reading the news recently, one might think that the U.S. was slamming the doors on Chinese trade and investment. First was Washington’s Sept. 17 trade complaint to the World Trade Organization, claiming China subsidizes autos and auto parts.

International Business Machines Corp. (NYSE: IBM), the No. 2 computer company, and AT&T Inc. (NYSE: T), the No. 1 telecommunications carrier, said they’ll jointly offer secure network communications over the cloud for businesses.