Satyam Names Veteran Murty as Chief Executive to Replace Arrested Founder Satyam Computer Services Ltd., the software exporter at the center of India’s biggest corporate fraud inquiry, named company veteran A.S. Murty as chief executive officer, ending a four-week leadership vacuum following the founder’s arrest.
Inflation Slows to Lowest in 11 Months, Giving Room for India Rate Cuts India’s inflation slowed to near a one-year low, giving the central bank more room to cut interest rates to stimulate economic growth.
Sensitive Index Falls on Concern India Slowdown May Deepen, Reliance Drops India stocks declined for the first time in three days, led by Reliance Industries Ltd. after a government official’s comments increased concern that the economic slowdown will be prolonged.
Tata Steel Rating Cut at Standard & Poor's on Negative Industry Outlook Tata Steel Ltd., India’s biggest producer, had its rating cut one notch at Standard & Poor’s, which cited weak market conditions for steel products.
India's Budget Deficit May Triple This Year on Spending, Tendulkar Says India’s budget deficit may triple this year from the planned target as the government steps up spending to arrest an economic slowdown, said Suresh Tendulkar, the top economic adviser to Prime Minister Manmohan Singh.
Sterlite Said to Be Close to Acquisition of Bankrupt Copper Miner Asarco Sterlite Industries (India) Ltd., the nation’s largest copper producer, is close to signing a contract to buy Asarco LLC, potentially ending the U.S. miner’s four-year- old bankruptcy, two people involved in the talks said.
Rupee Climbs to Three-Week as Growth Prospects May Increase Fund Inflows India’s rupee climbed to a three-week high on speculation overseas investors will buy the nation’s assets as its economy outperforms most other emerging markets.
Sri Lanka Stock Market, World's Best Performer, Seeks Indian Partnership Sri Lanka, whose benchmark stock index surged 17 percent this year on prospects the nation’s civil war may be ending, is in talks to form an alliance with an Indian equity market to bolster trading.
Bank of England Cuts Benchmark Rate Half-Point to 1% to Counter Recession The Bank of England lowered the benchmark interest rate to 1 percent, extending the most aggressive round of cuts in its three-century history as officials try to limit fallout from the deepening recession.
Stocks in U.S. Drop on Earnings, Jobless Claims; Bank of America Retreats U.S. stocks declined, extending a global retreat, after initial jobless claims unexpectedly jumped to a 26-year high and concern grew over the health of Bank of America Corp.
Trichet Says ECB May Lower Rate by Half Point in March After Holding at 2% European Central Bank President Jean- Claude Trichet said policy makers may cut their benchmark interest rate by a half percentage point to a record low of 1.5 percent next month as a recession in the euro region deepens.
U.S. Factory Orders Drop More Than Forecast as Businesses Rein In Spending Orders placed with U.S. factories fell in December for a fifth month, reflecting a pullback in business spending that will extend the recession.
GE's Immelt Says He's Prepared to Run Company With AA Rating; Shares Fall General Electric Co. Chief Executive Officer Jeffrey Immelt said he’s prepared to run the company without the highest available credit rating.
State Street Cuts Dividend, Bonuses to Increase Capital Hit by Bond Losses State Street Corp., the world’s largest money manager for institutions, all but eliminated its shareholder dividend and cut 2008 bonuses to increase capital depleted by bond losses and costs to prop up investment funds.
Rohm Holder John Paulson Says Dow Chemical Can Complete Takeover With Loan Paulson & Co., the hedge fund run by billionaire John Paulson, urged Dow Chemical Co. to slash its dividend, sell new stock and issue bonds to pay for the stalled takeover of Rohm & Haas Co.
source: Bloomberg
