India May Keep Cutting Rates to Spur Growth in Third-Biggest Asian Economy India's central bank indicated it may keep cutting interest rates after economic growth slowed to a five-year low last quarter.
Inflation Rate in India Declines to 3.03 Percent, Lowest Level Since 2002 India's inflation slowed to the lowest since 2002, giving the central bank room to add to yesterday's cut in interest rates.
ONGC Shares Fall After Goldman Says State Took $20 Billion of Company Cash Oil & Natural Gas Corp., India’s biggest state-run explorer, fell in Mumbai trading today after Goldman Sachs Group Inc. said the government took $20 billion cash from the company without consulting minority shareholders. ONGC denied the allegations.
India's Wheat Crop Needs Rain in Two Week to Meet 78 Million Ton Target India, the world’s second-biggest wheat producer, may fail to reach its output target this year unless some of the growing regions receive rain in the next two weeks, a government researcher said.
Stocks in India Drop to Three-Year Low, Led by Reliance Industries, ICICI India’s benchmark stock index fell to its lowest level in three years, led by Reliance Industries Ltd. and ICICI Bank Ltd., on concern governments’ attempts to revive the global economy will fail.
Indian Oil Delays Gujarat Refinery Shutdown to June, September on Election Indian Oil Corp., the country’s largest refiner, has postponed the shutdown of its biggest plant to June and September from March because of general elections, a company official said.
Asset Sale, Deficit Cut Key to Retaining India Investment Grade, S&P Says India needs to contain its widening budget gap and implement changes including stake sales of state- run companies and easier rules for construction firms to keep its investment-grade credit rating, Standard & Poor's said.
Rupee Drops, Approaching Record Low, on Indian Rate Cuts, Importer Sales India’s rupee dropped after the central bank cut interest rates for a second time this year and on speculation some companies bought dollars to pay for imports.
Bank of England Cuts Rate to Record Low 0.5%, Will Buy $105 Billion Assets The Bank of England reduced the benchmark interest rate to the lowest ever and said it would start purchasing 75 billion pounds ($105 billion) in assets, printing money to fight the recession.
Stocks in Europe, U.S. Futures Drop; Aviva, BHP Billiton, Salzgitter Drop European stocks and U.S. futures fell after Aviva Plc, the biggest U.K. insurer, reported a loss, China quelled speculation that the government will add to its stimulus plan and Goldman Sachs Group Inc. said the global economy is worsening. Shares in Asia advanced.
ECB Reduces Interest Rate to Lowest on Record as Europe's Economy Worsens The European Central Bank cut interest rates to a record low in an attempt to stem the worst recession since World War II.
General Electric Treated Like `Leper' as Investors Push Down Shares, Bonds General Electric Co. investors are treating the company as though it’s on the verge of failing ahead of a potential cut in its top-level AAA rating.
Legg Mason Sells Remaining $1.8 Billion in SIVs From Money-Market Funds Legg Mason Inc. sold $1.8 billion of structured investment vehicles, removing the last of the distressed debt investments from its money-market funds.
Geithner Warns of Deeper Slump, Seeking Lawmakers' Backing for Bank Rescue Treasury Secretary Timothy Geithner warned the U.S. recession is worsening, and the Federal Reserve said there’s little hope of an improvement in coming months.
Mediobanca Considers Purchasing 30% Stake in Brioni, Italian Luxury Tailor Mediobanca SpA, Italy’s biggest independent investment bank, is considering buying a stake in Brioni Roman Style SpA to help fund the luxury suit maker’s expansion, according to two people familiar with the discussions.
source: Bloomberg
