India's Inflation Slows to 13-Month Low, Increasing Likelihood of Rate Cut India’s inflation slowed to a 13- month low, increasing chances the central bank may cut interest rates to support a weakening economy. Bonds rose.
Bombay Sensex Rises for the First Time This Week, Led By Software Writers Indian stocks gained for the first time this week, led by Infosys Technologies Ltd. and Wipro Ltd. as the depreciating rupee is expected to boost overseas earnings of software companies.
Indian Salaries May Increase 8.2%, Slower Than Past Six Years, Hewitt Says Salaries in India will grow at a slower pace this year because of a domestic economic slowdown triggered by the global recession, Hewitt Associates Inc. said.
Indian Profit Estimates to Drop Another 25% on Banks, Credit Suisse Says Indian earnings estimates for the next fiscal year may be cut another 25 percent, led by revisions for banks, as the economy weakens, Credit Suisse Group said.
Rupee Rises for First Time This Week as Stock Advance May Temper Outflows India’s rupee strengthened for the first time this week as stock gains tempered concern overseas investors will increase sales of local shares.
U.S. Stocks Climb on Lower Valuations; GM, Ford, Whole Foods Shares Gain U.S. stock futures rose, indicating the Standard & Poor’s 500 Index may snap three days of declines, as the gauge traded near the cheapest since 1985.
Producer Prices in U.S. Rise 0.8%, More Than Forecast, Led by Autos, PCs U.S. producer prices climbed more than forecast in January as companies tried to boost earnings at the start of the year before demand weakened even more.
Euro Strengthens on Speculation Germany May Act to Counter Regional Crisis The euro rose from near a three-month low against the dollar on speculation German Chancellor Angela Merkel will signal Europe’s largest economy plans to help ease the financial turmoil in the region.
Stanford Lured Investors With `No Worry' Promise on Top of Higher Returns Stanford International Bank Ltd., accused by U.S. regulators of defrauding investors, relied on more than high interest payments to sell $8 billion of what it called certificates of deposit.
Bank of New York Mellon's Chief Kelly Opposes Limits on Bankers' Bonuses Bank of New York Mellon Corp. Chief Executive Officer Robert Kelly said he opposes a limit on bankers’ bonuses because it could make senior executives quit.
Citigroup Will Keep Director Hernandez's Free Use of Airplanes, Helicopter Citigroup Inc., the U.S. bank that got a $52 billion government bailout, said director Roberto Hernandez Ramirez will keep free use of company aircraft and an office after he steps down from the board in April.
Bank of America, American Express May Suffer as Card Defaults Set Record Credit-card defaults may rise beyond 10 percent this year, breaking records and wiping out more than half of annual profit for lenders including Bank of America Corp. and JPMorgan Chase & Co., analysts said.
source: Bloomberg
