Indian Industrial Output, Inflation Decline, Increasing Chance of Rate Cut India’s industrial production fell the most since 1993 and inflation slowed to the lowest in a year, intensifying pressure on policy makers to add to interest-rate and tax cuts to revive a weakening economy. Bonds rose.
BAE Systems Seeks Indian Partners to Build Military Surveillance Vessels BAE Systems Plc, Europe’s biggest defense company, is in talks with Indian shipbuilders as it seeks to win contracts for surveillance vessels as the country beefs up coastal security after terror attacks in Mumbai.
Sensitive Index Falls Most in Two Weeks as India Industrial Output Plunges Indian stocks fell the most in almost two weeks after the nation’s industrial output posted the biggest decline since 1993 in December as the global recession crimped exports.
Bonds Rise, Yields at 2-Week Low, as Inflation Slows, Factory Output Falls Indian bonds gained, pushing yields to the lowest level in two weeks, after government reports showed inflation slowed and factory output dropped.
Finmeccanica, Tata Sons Tie Up for Helicopters on Indian Military Spending Finmeccanica SpA, Italy’s biggest defense company, and India’s Tata Sons Ltd. formed a joint venture to produce helicopters in India as the South Asian nation boosts military spending.
Indian Sugar Prices May Rally, Helping Mills Return to Profit, Fitch Says Sugar prices in India, the world’s second-biggest producer, may extend gains because of a supply deficit, likely helping Bajaj Hindusthan Ltd. and its rivals return to profit, Fitch Ratings said.
Rupee Drops to Two-Week Low After Report Shows Industrial Production Fell India’s rupee dropped to the lowest level in almost two weeks after the government said industrial production fell the most since 1993.
U.S. Stocks Extend Global Drop on Jobs Data, Concern Stimulus Plan to Fail U.S. stocks tumbled, extending a global slide in equities, as jobless claims climbed to a record and investors speculated government measures will fail to revive the world’s economy.
Retail Sales in U.S. Unexpectedly Climb 1%, First Increase in Seven Months Sales at U.S. retailers unexpectedly halted a record six-month slide in January, an advance that may not be sustained as job losses climb.
Fed in Talks to Add Four Primary Dealers as Treasury Sales Rise to Record The Federal Reserve Bank of New York is in talks with at least four firms to expand the network of dealers that underwrite government-bond auctions as the U.S. prepares to sell more than $2 trillion in debt this year.
Allen Stanford's Texas Brokerage Faces U.S. Probe of How Firm Gets Returns Stanford Group Co., a Houston-based investment firm led by billionaire R. Allen Stanford, is under investigation by U.S. securities regulators over sales of certificates of deposit in its affiliated offshore bank and the consistent, above-average returns those investments pay.
Morgan Stanley Real Estate Chief Kalsi Said to Be on Administrative Leave Morgan Stanley put Sonny Kalsi, its global head of real estate investing, on administrative leave effective immediately, giving direct oversight of his division to two executives who had run it previously, according to a person with knowledge of the decisions.
Coca-Cola Profit Falls Less Than Estimated as Costs Lowered; Shares Climb Coca-Cola Co., the world’s largest soft-drink maker, reported fourth-quarter profit that fell less than analysts estimated after lowering expenses through cutting jobs and adding technology to track sales.
Bini Smaghi Says Investor Mistrust of Banks May Spread to Government Bonds European Central Bank board member Lorenzo Bini Smaghi said he’s concerned investors could lose confidence in governments unless they contain spending, raising the threat of a crisis in national finances.
source: Bloomberg
