Maytas Infra Founders, Tied to Satyam Computer, Lose Stakes to Lenders Maytas Infra Ltd., controlled by the family of arrested Satyam Computer Services Ltd. chairman Ramalinga Raju, said its biggest shareholders were forced to transfer their shares to finance companies to cover loans.
India Forces Owners to Disclose Stakes Pledged For Loans in Wake of Satyam India’s regulator said founders of companies must disclose shares pledged in return for loans, as authorities tighten disclosure rules in the wake of the alleged accounting fraud at Satyam Computer Services Ltd.
Wipro Profit Rises 8.7%, Missing Estimates, Amid Slowing Technology Sales Wipro Ltd., India’s third-largest provider of software services, said profit growth slowed for a seventh straight quarter, missing estimates, as customers reduced technology spending amid the global recession.
Satyam May Hire Adviser for Rescue as Fraud Inquiry Widens to U.S. SEC Satyam Computer Services Ltd., India’s fourth-largest software exporter, plans to hire a financial adviser to rescue the company, as the investigation into the nation’s biggest accounting fraud spreads to the U.S.
Housing Development Profit Falls, Missing Estimates, as Gain Not Repeated Housing Development Finance Corp., India’s biggest mortgage lender, reported third-quarter profit declined 16 percent due to the absence of a one-time gain from the sale of investments that lifted profits a year earlier.
Government Bonds Drop on Speculation India's Interest Rates Won't Be Cut India’s 10-year bonds fell for a second day on speculation the central bank won’t reduce rates after the prime minister’s top economic adviser said measures taken recently by the government were enough to spur growth.
Stocks in India Decline to Lowest in Six Weeks as Global Recession Deepens Indian stocks fell, dragging the benchmark index to its lowest in six weeks, on concern mounting bank losses worldwide will deepen the global recession.
Rupee Strengthens on Speculation Indian Exporters Increased Dollar Sales India’s rupee strengthened on speculation some exporters converted their overseas earnings after the local currency fell to a six-week low yesterday.
Apple Said to Face SEC Review Over Disclosures About Steve Jobs's Health U.S. regulators are examining Apple Inc.’s disclosures about Chief Executive Officer Steve Jobs’s health problems to ensure investors weren’t misled, a person familiar with the matter said.
Stocks in U.S. Fluctuate After Early Rally; GE Declines, Citigroup Gains U.S. stocks drifted between gains and losses as declines in consumer and industrial shares overpowered an early rally spurred by expectations President Barack Obama will outline a new plan to shore up banks.
Hedge-Fund Investors Pulled Record $152 Billion Last Quarter After Losses Hedge-fund investors withdrew a record $152 billion in the fourth quarter as the industry posted its worst returns in almost two decades, according to Hedge Fund Research Inc.
Pimco Withdraws From GM Bondholder Group After Reneging on GMAC Debt Swap Pacific Investment Management Co., manager of the world’s biggest bond fund, resigned from an investor committee negotiating with General Motors Corp. to exchange debt for shares.
Merrill Lynch Clients Pulled $10 Billion in Fourth Quarter as Stocks Sank Merrill Lynch & Co. clients withdrew $10 billion in the fourth quarter, more than triple the pace of the previous three months, as stock markets sank and Bank of America Corp. moved to complete its acquisition of the New York- based firm.
Toyota Passes General Motors as Biggest Automaker Amid Global Sales Slump Toyota Motor Corp. ended General Motors Corp.’s 77-year reign as the world’s largest automaker after avoiding the worst of the meltdown in global auto demand.
source: Bloomberg
