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Etihad Airways, which has wants to acquire 24 per cent stake in Jet Airways for Rs 2,058 crore, has reportedly agreed to have fewer directors on Jet Airways' board.

Sources familiar with developments at the two carriers revealed that Etihad has agreed to have two directors, instead of previously planned three, on the 14-member board of Jet Airways.

FMCG major Hindustan Unilever Ltd (HUL) on Friday announced the appointment of Sanjiv Mehta - the current head of the company's Middle-East & North Africa business- as its new managing director.

Mr. Mehta will replace Nitin Paranjpe, who has been elevated to the position of the global head of HUL's parent firm Unilever's homecare business. Mr. Paranjpe, who will become a member of the FMCG giant's leadership executive team, will report directly to global Chief Executive Paul Polman.

EUR/USD has been moving higher for the last few days but on very low volume and momentum, which is usually an early signal for a trend change.

Global beverage giant, PepsiCo Inc has said that it will no longer brand its Naked juices as being "all natural" following a lawsuit challenging the move against the company.

The lawsuit against the company based in Purchase, N. Y, claimed that the drinks contain ingredients that cannot be branded as natural. Pepsi has also agreed to pay $9 million to settle the lawsuit after admitting that it uses boost of vitamins in some drinks.

According to the latest data released, the consumer sentiment in the US has touched its highest level since July 2007 inciting that the economy is on the path of a stable recovery.

The Reuter's/University of Michigan consumer sentiment index rose 85.1 in July compared to 83.9 in June. The rating of 85.1 is highest for the month since July of 2007 indicating that the US consumers will increase spending during the coming months and boost economic growth in the US economy this year.

According to the latest data available, the gold prices have fallen following reports suggesting higher consumer sentiment and recovery in the economy.

Data showed that Gold for August delivery was trading $10.90 down at $1,317.90 an ounce at the COMEX division of the New York Mercantile Exchange. The gold price was touched a high of $1,350.50 and as low as $1,311.90 an ounce while the spot price fell $14.63 in the market.