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The senior Bajaj, Rahul has finally given a green signal to the logic of his son, Rajiv Bajaj to drop the Bajaj brand from the branding strategy of the company.

Notably, the Chairman of Bajaj Auto said in his annual report that the Managing Director often says that while products may generate market share, brands provide pricing power and create higher profits mentioning that he has started to agree with him.

It may be noted here that Rahul Bajaj had earlier shown his discomfort with the logic of dropping the Bajaj brand from the strategy of the company.

In answer to all the controversies regarding the usage of improper base in calculation of inflation, the Industry Secretary RP Singh said that India will soon have a new system of inflation measurement. The new system will become operational from August.

It will be covering the price changes of 250 extra items over and above the already existing ones.

He said that the government is read with a new index and it will soon consider the new items. But before that the system needs approval from the Committee of Secretaries, headed by the cabinet secretary.

Industry body Associated Chambers of Commerce and Industry of India (ASSOCHAM) said on Tuesday that India should totally stop the outflow of iron ore, even in the form of exports.

The situation is so serious, said the body that any kind of iron which has more than 60 per cent iron ore should be completely halted.

It said that while the miners are making super normal profits by exporting the raw mater, it is not good for the country. The perception that India has excess of iron ore is a myth and the Indian steel industry is in dire need of proper raw material.

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.