Tata Motors Unexpectedly Posts Loss as Slowing Indian Economy Hurts Sales Tata Motors Ltd., the Indian truck maker that owns Jaguar and Land Rover, posted its first quarterly loss in seven years as tighter credit and slower economic growth hurt vehicle sales and it had a foreign exchange loss.
Indian Court Temporarily Lifts Ban on Natural Gas Sales From Reliance Area The Bombay High Court temporarily lifted a ban on the sale of natural gas from Reliance Industries Ltd.’s largest field off India’s east coast, paving the way for supplies to fuel-starved fertilizer and power companies.
India Allows Duty Free Sugar Imports For First Time Since 2006 on Prices India, the world’s biggest consumer of sugar, permitted duty free imports of the sweetener for sale domestically to prevent an increase in prices as output slumps.
Suzlon Reports Unexpected Third-Quarter Loss After Replacing Faulty Blades Suzlon Energy Ltd., India’s biggest maker of wind-turbine generators, unexpectedly reported a loss in the third-quarter after making payments to replace faulty equipment and the value of orders declined.
Larsen & Toubro Profit Rises on Bridge, Road Orders, Sale of Concrete Unit Larsen & Toubro Ltd., India’s biggest engineering company, said third-quarter profit more than tripled as it built more roads, bridges and factories and sold its ready- mix concrete business.
Spice's Modi Makes $408 Million Offer for Acquiring Control of Satyam Spice Corp. Chairman B. K. Modi offered 20 billion rupees ($408 million) for a controlling stake in Satyam Computer Services Ltd., joining Larsen & Toubro Ltd. in the race for the fraud-hit software exporter.
Bharat Heavy to Deliver Orders on Time, Meet Sales Target, Chairman Says Bharat Heavy Electricals Ltd., India’s biggest power equipment maker, expects to deliver orders on time and meet its sales growth target for the year ending March 31, Chairman and Managing Director K. Ravi Kumar said.
Benchmark Sensitive Index Declines; Bharat Heavy, Sun Pharmaceutical Drop Indian stocks fell, driving the benchmark down the most in a week. Bharat Heavy Electricals Ltd., the nation’s biggest maker of electrical equipment, dropped after reporting third-quarter profit that missed analyst estimates.
U.S. Economy Shrinks at 3.8% Pace, Most in 26 Years, as Spending Crumbles The U.S. economy shrank the most since 1982 in the fourth quarter as consumer spending recorded the worst slide in the postwar era, a trajectory that’s likely to continue in coming months.
Wall Street Bonuses May Go Way of Dodo as Casualty of Government Bailouts The Wall Street bonus, considered a sacred ritual, may become the industry’s biggest casualty as governments worldwide bail out financial institutions.
Chicago Purchasing Managers' Index Falls a Fourth Month as Economy Worsens U.S. business activity shrank in January for the fourth consecutive month, a sign the downturn in manufacturing may worsen this year.
Credit-Swap Overhaul Is Planned for March as Dealers Attempt to Limit Risk Dealers plan to overhaul credit- default swaps in March to curb risks in the $28 trillion market, making the derivatives more like bonds and creating a committee that will arbitrate disputes.
Caterpillar Will Fire Additional 2,110 Workers on Top of 20,000 Job Cuts Caterpillar Inc., the world’s largest maker of bulldozers and excavators, will fire 2,110 additional factory workers at three manufacturing plants in Illinois.
Tata Motors Unexpectedly Posts Loss as Slowing Indian Economy Hurts Sales Tata Motors Ltd., the Indian truck maker that owns Jaguar and Land Rover, posted its first quarterly loss in seven years as tighter credit and slower economic growth hurt vehicle sales and it had a foreign exchange loss.
Ireland's Credit-Rating Outlook Lowered by Moody's as Budget Deficit Grows Ireland’s government debt-rating outlook was lowered by Moody’s Investors Service, which said the financial crisis is likely to “significantly impact” the country’s economic strength.
source: Bloomberg
