Tata Steel Debt Rating Reduced One Notch By Moody's; May Be Lowered Again Tata Steel Ltd., India’s biggest producer, had its debt rating reduced one level by Moody’s Investors Service after falling prices dragged third-quarter profit down 39 percent.
Tata Power May Face Difficulties Paying Debt for Stakes in Indonesia Mines Tata Power Co., India’s biggest electricity generator outside state control, may face difficulties repaying $850 million debt used to buy stakes in two Indonesian mines as coal prices decline, analysts said.
Stocks in India Rise, Recovering From a Three-Year Low; Sterlite Advances India’s key stock index rose, recovering from a three-year low. Sterlite Industries (India) Ltd. led commodity producers higher on optimism the Chinese government will increase infrastructure spending to boost its economy.
Rupee Gains Most in Two Months on Speculation Exporters Bought After Slide India’s rupee advanced the most in almost two months on speculation some exporters bought the currency following its slide to a record this week.
Asian Stocks Advance on Optimism China, Japan Will Widen Stimulus Measures Asian stocks rose for the first time in three days on optimism China and Japan will widen efforts to bolster growth in the region’s two largest economies.
India's Iron-Ore Exports to Slump This Month as Chinese Demand Dries Up India’s iron-ore exports in March will slump as China, the world’s largest consumer of the steel- making raw material, reduces purchasing after stockpiles rose.
Government Bonds Decline as Investors Sell to Raise Cash for Debt Auction Indian bonds fell, pushing yields to the highest level in almost a week, on speculation investors sold securities to free up cash for a debt auction.
Stocks Rise Around World; Commodities Climb on China Plan, Treasuries Fall Stocks rose around the world, commodity prices rallied and Treasuries fell on speculation China will broaden efforts to boost growth in the world’s third-largest economy. The Shanghai Composite Index jumped the most in four months.
Wen Considers New China Stimulus Measures, Adding to $585 Billion Spending Chinese Premier Wen Jiabao may announce new stimulus measures tomorrow, adding to a 4 trillion yuan ($585 billion) spending plan as the government tries to revive growth in the world’s third-biggest economy.
More Than 8 Million in U.S. Owe More Than Value of Homes as Prices Tumble More than 8.3 million U.S. mortgage holders owed more on their loans in the fourth quarter than their property was worth as the recession cut home values by $2.4 trillion last year, First American CoreLogic said.
Hryvnia Soars as Ukraine Revises Budget to Meet $16 Billion IMF Loan Terms Ukraine’s hryvnia climbed the most in more than two months against the dollar as the government announced budget changes to comply with the terms for a second payment of an International Monetary Fund loan.
Saab Chief Jonsson Says Industry Buyers, Investors Interested in Company Saab Automobile, the Swedish car maker that filed for bankruptcy protection last month, said it has drawn interest from rivals as well as investment companies, as it seeks a new owner with “long-term commitment.”
Hartford Said to Be in Talks to Sell Unprofitable Life Unit to Sun Life Hartford Financial Services Group Inc., hammered by three credit-rating downgrades and a 72 percent stock drop this year, is in talks to sell most of its unprofitable life insurance unit to Canada’s Sun Life Financial Inc., said three people with knowledge of the matter.
source: Bloomberg
