Maytas Flounders as Satyam Fraud Inquiry Chokes Off Funds, Stock Plummets Maytas, the construction group embroiled in India’s biggest fraud inquiry, may struggle to survive as the investigation stalls funds needed to build roads and houses and investors dump the stock.
Larsen Triples Holding in Satyam to Have Greater Say in Rescue Process Larsen & Toubro Ltd., India’s biggest engineering company, increased its stake in Satyam Computer Services Ltd. to 12 percent to give it greater say in the rescue of the fraud-hit software exporter.
Tendulkar Wants Indian Central Bank to Cut Rates Next Week to Boost Growth Indian Prime Minister Manmohan Singh’s top economic adviser Suresh Tendulkar wants the central bank to reduce interest rates further in its Jan. 27 policy statement to stimulate a slowing economy.
Singapore Air, Virgin Atlantic May Win Right to Invest in India Airlines Singapore Airlines Ltd., Virgin Atlantic Airways Ltd. and other carriers may win the right to buy into Indian airlines as the world's second-fastest-growing major economy plans to scrap investment restrictions.
Rupee Heads for Second Weekly Loss as Funds Sell Stocks on Economic Slump India’s rupee headed for a second week of losses after overseas investors pared holdings of local assets as the global economic slump deepened.
Reliance Struggles to Convince Investors Gas, Refinery Will Boost Profit Reliance Industries Ltd., India’s largest company by market value, is struggling to convince investors that natural gas sales and a new refinery will reverse a slump in profit.
Stocks in India Decline For Third Week, Led by Infosys, Software Exporters India’s key stock index fell, posting its third weekly decline. Infosys Technologies Ltd. led software exporters lower after housing and employment data pointed to a deepening recession in the U.S., the sector’s biggest market.
Indian Lawyers Should Drop Opposition to Foreign Firms, Law Minister Says Indian lawyers should stop opposing the entry of overseas firms as they will create “thousands” of legal jobs, Minister of Law and Justice H. R. Bhardwaj said.
General Electric Profit Declines 43% as Immelt Backs Dividend, AAA Rating General Electric Co.’s profit fell for a fourth straight quarter as the global credit crisis ate into income at the company’s finance segment. GE repeated its commitment to the dividend and AAA credit ratings.
Stocks Drop Worldwide as Europe's Stoxx 600 Index Plunges to Five-Year Low Stocks declined around the world, driving Europe’s Dow Jones Stoxx 600 Index to the lowest level in more than five years, as concern deepened the global economic slump will erode earnings.
Pfizer Said to Be in Talks to Buy Wyeth, Biggest Drugmaker Deal Since 2003 Pfizer Inc. is in talks to buy Wyeth in what would be the biggest pharmaceutical deal in almost six years, according to a person familiar with the negotiations.
U.K. Economy Shrinks More Than Forecast in Biggest Contraction Since 1980 The U.K. economy shrank more than economists forecast during the fourth quarter in the biggest contraction since 1980 as the financial crisis crippled the banking industry and mired Britain deeper in the recession.
Fannie, Freddie, Federal Home Loan Banks Facing New Rules, Lockhart Says The Federal Housing Finance Agency plans to propose new financial requirements next week for Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks.
Ukraine President Wants Russia Gas Accord Amended, Calls It `Capitulation' Ukraine’s president plans to propose changes to a natural-gas accord with Russia that the two nations’ premiers hammered out to end almost two weeks of supply disruption for the European Union.
source: Bloomberg
