Infosys Forecasts First-Ever Revenue Decline as Customers Reduce Spending Infosys Technologies Ltd., India’s second-largest computer-services provider, forecast its first annual drop in dollar sales as customers pare orders during the global recession.
India May Receive Near Normal Rainfall This Year, Spurring Economic Growth India’s monsoon, critical to the nation’s $240 billion agricultural economy, is likely to be near normal this year, encouraging planting and helping to counter the slowest economic growth in six years.
ArcelorMittal Will Delay $20 Billion Plan to Build Two Factories in India ArcelorMittal, the world’s largest steelmaker, said it will delay a $20 billion plan to build two factories in India because of the global recession and difficulties in securing mines and licenses.
Indian Stocks Go to First From Worst of BRIC Markets as Sensex Rallies 34% Indian stocks, laggards among the world’s biggest emerging-market economies in the first quarter, recovered to post the steepest returns the past month as investors snapped up the cheapest shares in 13 years.
Daimler to Take Full Control of Truck Venture in India as Hero Drops Out Daimler AG, the world’s biggest maker of heavy trucks, will take full control of its commercial- vehicle joint venture in India after partner Hero Group pulled out to focus on building motorcycles.
Indian Restructured Loans May Increase as Norms Ease, Bank of America Says Indian restructured loans may jump as much as eight times as companies and lenders take advantage of a relaxation in central bank regulations, Bank of America- Merrill Lynch said.
Stocks in India Climb for Eighth Day; Cement Makers Rise as Infosys Falls Indian stocks rose, with the benchmark index advancing for the eighth day, on speculation overseas investors have stepped up purchases of the nation’s equities.
U.S. Consumer Prices, Industrial Output Fall, Deferring Inflation Concern Consumer prices posted their first annual decline since 1955 and unused American manufacturing capacity reached a record, alleviating concern that Federal Reserve actions will cause inflation to soar.
Stocks in U.S. Fluctuate as Consumer, Industrial Gains Offset Tech Slump U.S. stocks drifted between gains and losses as an advance in consumer-staples and industrial companies offset a slump in technology shares triggered by falling profit at Intel Corp.
UBS to Eliminate Another 7,500 Jobs as Loss Widens on Flood of Withdrawals UBS AG, Switzerland’s largest bank, plans to cut another 7,500 jobs, bringing total staff reductions to almost 20 percent of the workforce, amid mounting losses and customer defections.
Wal-Mart Chief Duke Sees `a Lot of Stress,' Slow Recovery for U.S. Economy The U.S. economy won’t “just bounce out and come back” from the current recession, Wal-Mart Stores Inc. Chief Executive Officer Mike Duke said in an interview on NBC’s Today show.
Zell, Lauded for Real Estate Timing, Says Purchase of Tribune `a Mistake' Billionaire investor Sam Zell made what is acknowledged to be one of the best-timed investment decisions ever by selling his real estate empire at the peak of the market in February 2007. Now he says he made one of the worst 10 months later by purchasing Tribune Co.
Abbott Sales Miss Estimates on Generic Competition, Less Demand for Humira Abbott Laboratories’ sales missed analysts’ estimates as its anti-seizure drug faced generic competition and as demand for its top-selling product, the anti- inflammatory medicine Humira, declined in the recession.
Icahn Wants Cook Gone From Amylin's Board as Investors Mount Proxy Fights Amylin Pharmaceuticals Inc. Chairman Joseph Cook should leave the company’s board, investor Carl Icahn said in a letter to Amylin.
source: Bloomberg
