India Bucks Global Auto Trend After Rate Cuts Spur Record Sales at Suzuki After six months of deliberating whether to buy a car, Mumbai real-estate agent Abraham Mathew took out a 300,000 rupee ($6,200) loan to buy a Suzuki Motor Corp. sedan. The clincher: a 20 percent drop in interest rates.
Sensitive Index Climbs on Possible India Stimulus Measures, ICICI Advances Indian shares rose, led by ICICI Bank Ltd., after acting Finance Minister Pranab Mukherjee said the government will announce additional measures to arrest the economic slowdown.
Reliance Industries to Take Delivery of 3 Deepwater Rigs Starting in 2009 Reliance Industries Ltd. will take delivery of three deepwater drilling rigs starting this year as India’s biggest company by value begins producing gas in the Bay of Bengal that may more than double the nation’s output.
Subbarao Says Reserve Bank Will Manage Debt Sale in `Least Disruptive' Way India’s central bank said it will manage the federal government’s debt-sale plan in an efficient manner and ensure financial markets remain stable.
Satyam Computer Rises After Fraud-Hit Company Names Murty Chief Executive Satyam Computer Services Ltd., the Indian software provider at the center of the country’s biggest fraud investigation, rose in Mumbai trading after it named a chief executive officer ending four weeks of leadership vacuum.
Rupee Advances a Second Week as Stock Gains May Increase Capital Inflows India’s rupee advanced for a second week as stock gains increased optimism overseas funds will return to buy emerging-market assets.
India's Earnings to Decline After First Drop in Six Years, Citigroup Says India’s corporate earnings may keep declining next business year after shrinking for the first time in six years in the third quarter, Citigroup Inc. said.
Jobless Rate in U.S. Rises to 16-Year High of 7.6%; Payrolls Fall 598,000 The unemployment rate in the U.S. climbed to the highest level since 1992 in January and payrolls tumbled as the recession showed no sign of abating.
Ford May Face $4 Billion Cash Drain on Pension, Pushing It Toward Aid Bid Ford Motor Co. may have to contribute $4 billion to its pension plan after a 2008 shortfall, a cash drain that risks dragging the second-largest U.S. automaker closer to a federal bailout.
Icahn Nominates Four Biogen Idec Directors in Renewed Battle for Control Investor Carl Icahn will nominate four directors to Biogen Idec Inc.’s board, signalling the billionaire’s second run for control of the biotechnology company.
Ho Steps Down as Temasek Names Goodyear to Run $130 Billion Singapore Fund Temasek Holdings Pte said Chief Executive Officer Ho Ching will step down after almost seven years at the helm of Singapore’s $130 billion state-owned investment company.
TARP Shortchanged Taxpayers by $78 Billion, Congress Oversight Panel Says U.S. taxpayers are being shortchanged by about $78 billion through the Treasury Department’s bank bailout, the panel overseeing the program said.
Toyota Widens Loss Forecast on Plunge in Global Demand, Strengthening Yen Toyota Motor Corp., the world’s largest carmaker, said its loss this year may be three times earlier estimates as car sales in the U.S. and Japan plunge and a stronger yen erodes earnings.
source: Bloomberg
