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India's largest lender State Bank of India plans to raise Rs 2,000 crore by allotting Basel-III compliant bonds to various investors. "The committee of directors for capital raising accorded its approval today to allot 20,000 AT1 Basel-III compliant non-convertible, perpetual, subordinated bonds in the nature of debentures... Aggregating Rs 2,000 crore to various investors," State Bank of India (SBI) said in a regulatory filing on Thursday. SBI said the bonds will carry a coupon rate of 8.15 per cent per annum with a call option after 5 years or the anniversary date thereafter. Shares of SBI were trading 1.67 per cent lower at Rs 302.50 on the BSE. 

HSBC Holdings PLC on Monday said profit grew 5 percent in the six months through June and announced its third share buyback in a year, indicating continued progress in the six-year turnaround plan of Europe's biggest bank. HSBC, like many global banks, spent the years up to the 2008 financial crisis expanding its empire with a string of acquisitions. Recent years have seen it cut jobs and sell assets worldwide to shrink the group back to profitability and maintain dividend payouts in an era of stricterc. The bank's Chief Executive Officer Stuart Gulliver and Chairman Douglas Flint are both retiring, leaving a legacy of improving revenue and returning more capital to shareholders, having focused on trimming the bank's empire and shifting focus to Asia. The latest share buyback, of up to $2 billion, comes as HSBC uses excess capital to offset the dilutive effect of shares paid out as dividends. It completed a previously announced $1 billion buyback in April. "...

When it comes to share some nostalgic, throwback pictures with his fans on social media, superstar Amitabh Bachchan always takes the cake. Today, the 74-year-old actor took to Twitter and shared an adorable photo with son Abhishek, which is surely going to make his fans smile wide. He captioned the snap, "I once, not so long ago showed him the workings of technology..now he teaches me..Kids, I tell you." In the photo, the 'PINK' star is seen trying to teach Abhishek Bachchan how to use a camera. Recently, the actor shared a picture of himself with son Abhishek, when he had just returned from the hospital after suffering the fatal accident. Read More News: Financial News , Latest Financial News , Todays Financial News

The poster of India's first dance-action movie ' Munna Michael ' is out and it seems like Tiger Shroff is all set to show off his cool moves. The 27-year-old actor shared the first look poster of the flick on his Twitter. He captioned the snap, "Moonwalking in the steps of the legend! :) #MunnaMichaelPoster @sabbir24x7 @ErosNow @vikirajani @NextGenFilm." In the photo, the 'Baaghi' star is seen walking amidst the crowd, while spinning off his hat in the air. The film is a special one for Tiger as he will be paying a tribute to the late dancing sensation Michael Jackson and his father Jackie Shroff through a song. The movie also stars Nawazzuddin Siddiqui, who has worked on his dancing skills to match a step or two with Tiger, and Bollywood debutant Niddhi Agerwal. Helmed by Sabbir Khan, the film is slated for a July 21 release. Read More

By Rishika Sadam and David Ingram REUTERS -  Facebook  Inc reported surging quarterly profit and revenue on Wednesday, helped by its fast-growing mobile ad business, but its shares dipped from a record high in after-hours trading as investors showed some nervousness about future earnings. The world's biggest online social network, which is nearing the five-year anniversary of its initial public offering, is searching for new types of advertising features to supplement its main revenue streams that it expects to cool off this year. Facebook's shares fell 2.4 percent in after-hours trading to $148.12. They had closed at an all-time high of $153.60 on Tuesday. Chief Financial Officer David Wehner said on a conference call after the company's earnings announcement that ad revenue growth is expected to come down significantly over the rest of 2017, repeating prior company warnings that it is hitting a limit in "ad load," or the number of ads it can squeeze ...

  With just a day left for the release of teaser of Bollywood movie ' Tubelight ', Salman Khan, has shared his excitement by giving fans a new poster for his much-awaited film. The 51-year-old-actor on Wednesday took to Twitter and shared a new poster of his movie. He captioned the snap, "Hai Hai!! Bas only 1 day to go! #TubelightTeaserTomorrow @TubelightKiEid @amarbutala @kabirkhankk @SKFilmsOfficial @StarGoldIndia." In the poster, the 'Sultan' star is looking really excited, much like his fans. Recently, Salman shared a picture from the movie in which he shared the first look of Sohail Khan. The poster featured both the brothers atop a bus plying from Jagatpur to Ranikhet. Based against the backdrop of India-China war, the Kabir Khan-directorial is one of the most-awaited movies of the year and is booked for the big screens this Eid.  Read More