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Microsoft March Quarter Results Set To Lift Its Market Capitalization To $1 Trillion And Beyond

New Delhi: In the words of Morgan Stanley, Microsoft Corp shares jumped pre-market with the company’s stronger-than-expected March quarter results set to lift its market capitalization “to $1 trillion and beyond”.

Analysts were broadly positive on the results, with most pointing to the rapid growth in Microsoft’s Azure cloud-computing business. UBS wrote that the results suggested that “there’s lots more opportunity ahead,” while Evercore ISI raved that Microsoft “should remain a stock for all seasons.”

Shares climbed about 4.8 percent before the market open, setting up Microsoft to regain the title of largest U.S. stock.

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Government Says US Sanction Against India’s Oil Import From Iran Would Not Disrupt Domestic Fuel Supply

New Delhi: The government and industry officials said that US sanction against India’s oil import from Iran would not disrupt domestic fuel supply because Indian refiners have made alternative arrangements, but consumers may feel the pinch as oil marketing companies are under immense pressure to hike petrol and diesel rates post-elections.

“Crude oil imports have become costlier. The US sanction has added to the woes. Oil companies are unable to proportionately increase retail prices of petrol and diesel due to political constraints. Ultimately, the consumer will face the heat as oil companies cannot absorb it [higher crude oil rates] indefinitely,” an executive working for a state-run oil marketing company said on condition of anonymity.

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Revival Of Jet Airways India Ltd At Risk As Days Roll By Since Its Operations Were Completely Halted

New Delhi: A revival of Jet Airways India Ltd., once the nation’s biggest carrier by market value, is at risk as days roll by since its operations were completely halted. While the cash-strapped carrier awaits potential investors to pump in money, rivals are aggressively going after its most prized assets.

A government desperate to limit public backlash after flight ticket prices escalated is parceling off landing and parking slots at congested airports. Lessors are also adding to the woes by allocating grounded aircraft to competitors.

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Manufacturers In China Facing Trade Barriers Deploy An Array Of Moves To Try To Keep Foreign Customers

New Delhi: Manufacturers in China facing trade barriers are deploying an array of moves to try to keep foreign customers - giving discounts, tapping tax breaks, trimming workforces and, occasionally, shifting production overseas to skirt tariffs.

Tit-for-tat tariffs from the China-United States trade war have been costly for many. Adding to the strain on Chinese manufacturers have been European Union duties on Chinese products ranging from electric bikes to solar panels.

March brought some encouraging news for manufacturers. Industrial output rose at its fastest rate since mid-2014 and exports rebounded more than expected, while first-quarter growth was better than expected.

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Spicejet To Prioritize Hiring Employees Of Jet Airways Ltd Who Are Losing Their Jobs

New Delhi: In view of crisis in Jet Airways, India’s SpiceJet Ltd said that it would prioritize hiring employees of Jet Airways Ltd who are losing their jobs after the crisis-hit Indian airline halted all flight operations indefinitely this week.

“We have already provided jobs to more than 100 pilots, more than 200 cabin crew and more than 200 technical and airport staff,” said Ajay Singh, chairman and managing director of SpiceJet. “We will do more.”

Hundreds of Jet Airways employees protested in Delhi and Mumbai on Thursday to push its management for answers about their future after the airline shut down all flight operations on Wednesday having failed to secure new funding from its lenders.