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Triveni Engineering & Industries (TEIL) has said that it has faced a loss of Rs. 14.23 crore during the third quarter ending on June 30.

The company is basically into the business of sugar and like the other companies in the sector has faced the brunt of the lower price and loss on the production front.

TEIL follows October-September as its accounting year which is in line with the year followed in sugar production as well. During the same period of the last year, it was having a profit of Rs. 39.81 crore.

World's biggest custody bank, Bank of New York Mellon Corp (BNY) Mellon has claimed that it has more than tripled its earnings during the second quarter of this fiscal. Higher overseas fees and proper management of investor assets has been the reason that pushed the earnings, said the bank.

Net income of the bank climbed by 54 cents to $658 million; as against 15 cents or $176 million last year.

However, this is lesser than what the analyst had expected. They said that the profits would be around 55 cents. But the good thing is that unlike the last year there are no write downs during this time.

Delta Airlines said that it has seen a profit of $249 million in the second quarter of 2010. In that case, it is the best result that the company has shown in a decade.

Delta which is the largest airline in the world said that it has seen a 17 per cent jump in revenue that makes it $8.2 billion as compared to $1.1 billion that it saw in the corresponding quarter of last year.

Most importantly, cargo revenue witnessed a 22 per cent jump or $38 million while the passenger revenue was up by 17 per cent of $8.2 billion. Increased baggage fees stood at $24 million.

Benchmark BSE ended in the red during the last trading session of Tuesday. This happened because of the selling pressure that happened during this hour.

In all, Sensex was down 50 points to end at 17,878.14 following its European counterparts. This is 0.28 per cent lesser than its previous close of 17,928.42 points. In the morning it had opened at 17,918.43 points.

Earlier during the day it went in the green and gained 111.75 points and breached 18,000 mark.

After a lot of hullabaloo, the Finnish handset maker, Nokia finally finalized a wage revision pact with its employees in India.

The market leader in the handset segment in the world had to do so after its employees went on a strike in its manufacturing facility in Sriperumbudur near Chennai.

Nature of the agreement is tripartite and has been signed between Nokia India Employees Progressive Union and the management in the presence of Tamil Nadu Labour Minister T M Anbarasan and Labour officials.

The same was signed on Monday night and was presented on Tuesday.

Cinemax India Ltd., the chain of multiplexes is now looking for partners for fueling its growth. Private equity is the specific area where it is seeking for investors.

It expects to raise Rs. 150 crore and the corpus will be used for aggressive growth plans and consolidation.

Cinemax is a Mumbai-based firm which has 94 screens in major cities. A person familiar with the development said that it wants to expand across India.