Briefly Business: CoalMin to form panel to identify mines for auction

CoalMin to form panel to identify mines for auction

New Delhi: The Coal Ministry is planning to form a panel which will identify coal blocks from the list of existing mines for allocation through auction and government dispensation route.

Forex reserves slip by $1.6 billion

Mumbai: Foreign exchange reserves slipped by $1.59 billion to $294.99 billion on the back of heavy decline in gold reserves and the core currency assets, the Reserve Bank said on Friday.

Telcos lost over 13 mn users in Nov: Trai

NEW DELHI: The country's telecom subscriber base fell by over 13 million to 921.47 million in November 2012 due to "large-scale disconnections", telecom regulator Trai said.

Obama picks Jack Lew for Treasury

WASHINGTON: US President Barack Obama has nominated Jack Lew as Treasury secretary. Lew has 30-years' experience in fiscal policy encompassing Social Security and budgets.

Amex to cut 5,400 jobs, take $287mn hit

HOUSTON: American Express Co said it is cutting 5,400 jobs, and take a $287 million restructuring charge.

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