India's Inflation Rate Slows to a 14-Month Low as Economic Growth Weakens India’s inflation slowed to a 14- month low amid weaker economic growth, making it more likely the central bank will cut interest rates. Bonds rose.
Daiichi Sankyo, Ranbaxy Fall After U.S. Halts Reviews on Falsehood Claim Daiichi Sankyo Co., Japan’s third- largest drugmaker, fell to a record low in Tokyo and its unit Ranbaxy Laboratories Ltd. declined in Mumbai after U.S. regulators said they’ll stop evaluating new products made at one plant of India’s biggest maker of medicines.
Tata Motors to Start Accepting Bookings for World's Cheapest Car in April Tata Motors Ltd., the maker of Jaguar and Land Rover luxury vehicles, will start accepting bookings for the Nano, the world’s cheapest car, in the second week of April.
Tata Consultancy Services to Freeze Pay Next Fiscal Year, May Cut Jobs Tata Consultancy Services Ltd., India’s largest computer-services provider, will freeze pay in the fiscal year starting April 1, and may cut jobs if the economic situation deteriorates, a company spokesman said.
Stocks in India Gain for Second Day; Reliance Industries, Tata Motors Rise Indian stocks rose, reversing earlier losses, led by Tata Motors Ltd., the nation’s biggest truck-maker, after it announced the launch of a long-awaited new small car.
Spicejet Plans Airline for Indian Regional Routes as Travel Demand Grows SpiceJet Ltd., the Indian discount carrier backed by billionaire Wilbur Ross, plans to set up an airline connecting smaller cities in the country to lure rail passengers.
Indian Central Bank Has Acted Aggressively to Protect Economy, Bansal Says The Reserve Bank of India has acted aggressively to protect the economy from the adverse impact of the global economic meltdown, junior finance minister Pawan Kumar Bansal said today.
Rupee Closes at Record Low as Global Slump Spurs Outflows, Hurts Exports India’s rupee fell to a record closing low versus the dollar as a deepening global economic slump damped demand for the nation’s assets and exports.
Obama's Budget Proposes Up to $750 Billion in New Financial Industry Aid President Barack Obama’s first budget request would provide as much as $750 billion in new aid to the financial industry, as well as overhaul the U.S. health-care system and launch a program to cut carbon-dioxide emissions.
Stocks in U.S. Gain on Obama Budget; JPMorgan, Citigroup, Wells Fargo Rise U.S. stocks rose, recouping yesterday’s losses, after President Barack Obama’s budget proposed as much as $750 billion in new aid for the financial industry.
UBS Replaces Rohner With Former Credit Suisse Chief Gruebel; Shares Rally UBS AG hired Oswald Gruebel to replace Marcel Rohner as chief executive officer, tapping a veteran banker who turned around Credit Suisse Group AG, to restore investor confidence eroded by record losses and a U.S. tax scandal.
GM Reports $30.9 Billion Annual Loss as Wagoner Seeks New Loans From U.S. General Motors Corp. reported a $30.9 billion annual loss, the second-biggest in its 100-year history, as Chief Executive Officer Rick Wagoner prepared to ask the Treasury for more cash to survive through 2009.
U.S. New Home Sales Drop to Record Low as Job Losses, Foreclosures Mount Sales of new homes in the U.S. plunged in January to a record low as soaring unemployment and mounting foreclosures drove buyers away.
AIG May Take Auto-Insurance Unit Off Market as Zurich Financial Pulls Bid American International Group Inc., the insurer selling units to repay a government loan, may pull its U.S. auto unit from the market after Zurich Financial Services AG withdrew an offer, two people familiar with the matter said.
RBS Will Place $462 Billion of Assets Into U.K. Government Insurance Plan Royal Bank of Scotland Group Plc will put 325 billion pounds ($462 billion) of investments into a state insurance program and shift toxic assets to a new unit after posting the biggest loss in British history.
source: Bloomberg
