Satyam Computer Services Begins Inviting Potential Suitors for 51% Stake Satyam Computer Services Ltd. invited bidders interested in buying a majority stake as the company at the center of India’s biggest corporate fraud inquiry seeks to regain confidence with investors and clients.
India Rejects Goldman Sachs Criticism of ONGC Subsidies for State Refiners The Indian government rejected criticism by Goldman Sachs Group Inc. analysts that it failed to consult minority shareholders on $20 billion of subsidies for refiners taken from Oil & Natural Gas Corp.
India Car Sales Gain for First Time in Five Months as Banks Cut Loan Rates India’s passenger-car sales climbed for the first time in five months in February as lower auto-loan rates spurred demand for the hatchbacks of Maruti Suzuki India Ltd., Hyundai Motor Co. and General Motors Corp.
Bombay Stock Exchange Index Drops to 3-Year Low on Political Uncertainty India’s Sensitive Index dropped to the lowest in more than three years, led by ITC Ltd. and State Bank of India, as investors sold stocks on increasing political uncertainty ahead of national elections starting next month.
Indian Stocks Outlook to Hinge on Result of Elections, Morgan Stanley Says A rally in Indian stocks will depend on the outcome of a general election in the South Asian nation this year as government spending is needed to bolster economic growth amid the global recession, Morgan Stanley said.
Government Bond Yields Rise to 3-Month High as Stimulus Boosts Supplies India’s benchmark bonds fell for the fifth day, the longest losing streak in a month, on speculation investors will demand bigger returns as the government steps up debt sales to finance economic stimulus packages.
India's Rupee Falls as Drop in Stocks Prompts Sales by Overseas Investors India’s rupee fell as a deepening economic slump and sliding stock prices spurred overseas investors to dump local assets.
Merck's $41 Billion Schering Buy to Add Experimental Drugs, Speed Research Merck & Co.’s $41.1 billion purchase of Schering-Plough Corp. adds experimental drugs for blood clots, infections and schizophrenia and allows the companies to speed research on biotechnology drugs.
U.S. Stocks Climb, Led by Energy Shares on Oil; Bank of America Advances U.S. stocks advanced, led by financial and energy companies, as Bank of America Corp. prepared to raise money selling debt and crude oil rose to a two-month high.
AIG Warned U.S. Failure Would Cripple World's Banks, Money Funds, Insurers American International Group Inc. appealed for its fourth U.S. rescue by telling regulators the company’s collapse could cripple money-market funds, force European banks to raise capital, cause competing life insurers to fail and wipe out the taxpayers’ stake in the firm.
Global Economy Will Shrink First Time Since World War II, World Bank Says The global economy is likely to shrink for the first time since World War II, and trade will decline by the most in 80 years, the World Bank said.
Marc Faber Says Government Actions to Trigger Stock Rally by End of April Government spending will spur gains in the Standard & Poor’s 500 Index after it fell 56 percent from an October 2007 record, investor Marc Faber said.
P&G's Arnold Steps Down After 29 Years, Putting McDonald in Line for CEO Procter & Gamble Co.’s Susan Arnold will retire from the world’s biggest consumer-products maker, paving the way for Chief Operating Officer Robert McDonald to take over the company when Alan Lafley retires.
Treasury Two Year Proves Sole Refuge in Worst Government Start Since 1980 As the recession and the credit freeze worsen, even U.S. government bonds are no refuge for investors, except for owners of two-year Treasury notes.
source: Bloomberg
