Subbarao Lowers Indian Growth Forecast, Signals Further Interest Rate Cuts India’s central bank lowered its growth forecast and signaled further cuts in interest rates from record lows to encourage lending and spur economic expansion.
Price Waterhouse's Top India Auditor Quits, Satyam Partners Suspended PricewaterhouseCoopers LLP’s Indian affiliate said the head of its auditing practice will step down after two partners were arrested in relation to the nation’s biggest corporate fraud inquiry at Satyam Computer Services Ltd.
Indian Bonds Drop After Central Bank Refrains From Cutting Interest Rates India’s bonds dropped the most in more than two weeks after the central bank refrained from cutting interest rates and said the fiscal deficit may be “substantially higher” than estimates.
Satyam Computer Names Goldman Sachs Group, Avendus As Investment Bankers Satyam Computer Services Ltd., the software exporter at the center of India’s biggest fraud inquiry, named Goldman Sachs Group Inc. and Avendus Capital Ltd. to help it identify strategic investors and a possible buyer.
Satyam Computer Has No Plans to Cede Control to Larsen After Investment Satyam Computer Services Ltd., the Indian software maker that’s reviewing takeover offers, said it has no plans to cede control to Larsen & Toubro Ltd. after the nation’s biggest engineering company tripled its stake.
Stocks Advance as India Predicts Lower Inflation; State Bank, Infosys Gain Indian stocks rose the most in a month after the central bank signaled confidence inflation will ease, boosting optimism interest rates will be cut to boost growth.
Rupee Climbs From Seven-Week Low as Stocks Climb, Central Bank Holds Rates India’s rupee strengthened for the first time in three days as gains in stocks spurred speculation global funds will return to buy local equities.
India Gold Imports Dive as Record Prices Spur Consumers to Recycle Jewelry Gold imports by India, the world’s biggest buyer of bullion, slumped this month as record prices prompted consumers to sell old jewelry, curbing demand for metal bought overseas.
Home Prices in 20 U.S. Cities Fell 18.2% in November as Foreclosures Rose Home prices in 20 U.S. cities declined 18.2 percent in November from a year earlier, the fastest drop on record, as foreclosures climbed and sales sank.
Stocks in U.S. Rise on Earnings; Texas Instruments, Travelers Shares Gain U.S. stocks gained for a third day as companies from Texas Instruments Inc. to Travelers Cos. and Netflix Inc. posted better-than-estimated earnings, overshadowing declines in consumer confidence and home prices.
Fugitive Fund Manager Nadel Is Arrested in Florida on U.S. Fraud Charges Florida hedge-fund adviser Arthur Nadel was arrested in Florida by the Federal Bureau of Investigation and has been charged with securities fraud.
Madoff Brokerage Owed Customers $600 Million in Stock, SIPC's Chief Says Bernard Madoff’s brokerage firm owed customers $600 million in stock it didn’t have on hand, Securities Investor Protection Corp. President Stephen Harbeck told Congress.
Cuomo Subpoenas Thain Over Bonuses Paid Prior to Merrill Lynch's Takeover New York Attorney General Andrew Cuomo subpoenaed former Merrill Lynch & Co. head John Thain and Bank of America Corp. Chief Administrative Officer J. Steele Alphin to testify about executive bonuses paid by Merrill just before its takeover by Bank of America.
source: Bloomberg
