Hedge Funds Offering Stakes in Indian Companies to Private Equity, 3i Says Private-equity investors are being offered stakes in Indian companies as hedge funds and banks seek to offload assets, said an executive at 3i Group Plc.
Indian Central Bank Will Take Appropriate Action as Needed, Gopinath Says Shyamala Gopinath, deputy governor of the Reserve Bank of India, said in Mumbai today that the central bank will take appropriate monetary policy action as needed, following a slump in the rupee to an all-time low.
Rupee Drops to Record Low on Signs Slump, Financial Turmoil Are Deepening India’s rupee fell to a record low on concern overseas funds will increase sales of local equities amid mounting signs the global economic slump and financial turmoil are deepening.
Stocks in India Fall to Lowest in Three Years; Infosys Technologies Drops India’s Sensitive index dropped, declining to its lowest level in more than three years. Infosys Technologies Ltd. led software exporters lower as American International Group Inc.’s record loss worsened investor confidence in the global economy.
Government Bonds Drop on Concern Rising Debt Sales to Drive Yields Higher Indian bonds fell for the first time in four days on speculation investors will demand higher yields as government debt sales increase.
Reliance Industries Share Price Target Reduced by Macquarie, Credit Suisse Reliance Industries Ltd., India’s most valuable company, had its earnings per share estimate for the year to March 2010 increased by 5 percent while its share price target was cut by 1.5 percent by Macquarie Group Ltd.
AIG's Bailout Made Bernanke `More Angry' Than Any Other Episode in Crisis Federal Reserve Chairman Ben S. Bernanke said American International Group Inc. operated like a hedge fund and having to rescue the company made him “more angry” than any other episode during the financial crisis.
Bernanke Says U.S. May Need More Than Approved $700 Billion to Fix Banks Federal Reserve Chairman Ben S. Bernanke said policy makers may need to expand aid to the banking system beyond the $700 billion already approved and take other aggressive measures even at the cost of soaring fiscal deficits.
Pending Sales of Existing U.S. Homes Fall 7.7%, More Than Double Forecasts Fewer Americans than forecast signed contracts to buy previously owned homes in January as the housing slump deepened at the start of its fourth year.
JPMorgan Derivatives Group Earned $5 Billion in Wall Street's Worst Year JPMorgan Chase & Co. managed to generate $5 billion in profit during the worst year in Wall Street history by trading over-the-counter fixed-income derivatives, two people with knowledge of the results said.
Goldman Sachs, JPMorgan Boost Rights Offer Fees by 50% as Risks Increase Goldman Sachs Group Inc. and JPMorgan Chase & Co. are charging companies 50 percent more than a year ago to guarantee rights offers to compensate for the risk they may be forced to buy unwanted stock.
Fed Veteran Orphanides Takes On Trichet Over Go-Slow Policy on Zero Rates A former Federal Reserve economist who made a name for himself telling his superiors they were wrong is now taking on European Central Bank President Jean-Claude Trichet.
American Express Cuts Card Limits, Contributes to Decline in Credit Scores Wayne Brown has a dilemma. If he reduces his credit-card balance, American Express Co. will cut his credit limit to the amount of the new balance, he said. If he doesn’t make a big payment, his interest rate may skyrocket.
source: Bloomberg
