Tata Consultancy 3rd-Quarter Profit Rises 1.6% as Recession Curbs Spending Tata Consultancy Services Ltd., India's largest software exporter, said third-quarter net income rose 1.6 percent, the eighth straight quarter of slowing profit growth, as the global recession curbed technology spending.
India Inflation Slows to 11-Month Low, Paving Way for More Stimulus Steps India’s inflation slowed to an 11- month low, paving the way for further stimulus measures to bolster an economy expanding at the weakest pace in six years.
Satyam Fraud May Delay India's Economic Rebound, Reduce Foreign Investment An Indian economic recovery may be delayed as alleged fraud at Satyam Computer Services Ltd. undermines investment, one of two key growth drivers.
Sensex Falls to One-Month Low; Infosys Leads Declines on Nortel Bankruptcy India’s benchmark stock index fell to the lowest in more than a month. Tata Consultancy Services Ltd. and Infosys Technologies Ltd. led declines after a Canadian customer for their software services collapsed.
Satyam Drops in Mumbai After India Says No Plan for Bailout by Government Satyam Computer Services Ltd., India’s fourth-largest software exporter, plunged 32 percent in Mumbai trading after the government said it has no plans for a bailout as investigators probe an alleged fraud.
Rupee Drops as Stock Losses Reignite Concern Capital Outflows to Increase India’s rupee weakened as global stock losses reignited concerns foreign funds will shun risk and dump their local holdings amid a deepening economic slump.
Bonds Rise a Fourth Day as Report Shows Inflation Slowed to 11-Month Low India’s benchmark bonds advanced for a fourth day, the best run in almost a month, as a government report today showed the inflation rate fell to an 11-month low.
JPMorgan Profit Drops 76% on $2.9 Billion of Writedowns, Bad-Loan Reserves JPMorgan Chase & Co., the second- largest U.S. bank by assets, said profit fell 76 percent as rising defaults and the U.S. recession forced the bank to write down $2.9 billion of assets and boost reserves for bad loans.
ECB Cuts Interest Rate Half-Point to 2% as Recession Forces Trichet's Hand The European Central Bank cut its benchmark interest rate by half a percentage point to 2 percent, matching a record low, as the deepening recession pressed policy makers into action.
Bank of America May Need More U.S. Money to Absorb Cost of Merrill Lynch Bank of America Corp., the biggest U.S. bank by assets, may get more aid from the government to help absorb losses tied to this month’s acquisition of Merrill Lynch & Co., three people familiar with the matter said.
U.S. Stock-Index Futures Fall; Shares of Apple, Bank of America Decline U.S. stock-index futures fell on concern a report today will show the deteriorating economy pushed employers to cut more jobs.
Morgan Stanley Said to Seek Supertanker to Store Oil After Plunge in Price Morgan Stanley is seeking a supertanker to store crude oil, joining Citigroup Inc. and Royal Dutch Shell Plc in trying to profit from higher prices later in the year, four shipbrokers said.
U.S. Producer Prices Probably Slumped as Demand for Commodities Collapsed Prices paid to U.S. producers probably fell in December for a fifth month as demand for raw materials collapsed with the deepening recession, economists said before a report today.
source: Bloomberg
