Reliance Says Jamnagar Refinery Coking Unit Fire Under Control, None Hurt Reliance Industries Ltd., India’s most valuable company, said a fire that broke out at its new refinery at Jamnagar, Gujarat, has been brought under control.
Indian Exports Fall the Most in at Least 13 Years as Recession Cuts Demand India’s exports fell the most in at least 13 years in February as recessions in the U.S. and Europe damped demand for the nation’s products.
Tata Motors Full-Year Vehicle Sales Drop 14% as Slower Growth Damps Demand Tata Motors Ltd., India’s biggest commercial vehicle maker, said sales fell 14 percent in the year ended March as slowing economic growth damped demand for trucks.
Benchmark Sensitive Index Advances, Led by Reliance Industries, Infosys Indian stocks rose, with the benchmark index gaining for a second day on speculation overseas investors stepped up purchases because they expect stimulus measures to revive the global economy.
Suzlon Energy Will Change Terms of $500 Million Debt to Cut Liabilities Suzlon Energy Ltd., India’s biggest maker of wind-turbine generators, plans to change the terms of $500 million of convertible bonds to reduce its liabilities.
National Aluminium to Boost Production on Capacity Expansion, Pradhan Says National Aluminium Co., India’s second-biggest producer, said it plans to boost metal production by about a fifth this fiscal year as it increases its smelter capacity to prepare for a revival in demand.
Wockhardt Plunges in Mumbai Trading After Seeking Debt Recast With ICICI Wockhardt Ltd. had the biggest fall in a year in Mumbai trading after the Indian drugmaker sought to restructure its debt, citing liquidity constraints and adverse market conditions.
Indian Bond Yields to Rise From 4-Month High on Supply, Goldman, HSBC Say India’s 10-year bonds will fall, driving yields beyond a four-month high, as the government sells three times the amount of debt the central bank is willing to buy, HSBC Holdings Plc and Goldman Sachs Group Inc. said.
Stocks in U.S. Rise as Housing, Manufacturing Data Overshadow GM Concerns U.S. stocks advanced for a second day as sales of existing homes unexpectedly increased and a manufacturing gauge topped economists’ estimates, overshadowing concern General Motors Corp. will file for bankruptcy.
Ford's U.S. Sales Plunge 41% as Job Losses Further Depress Vehicle Demand Ford Motor Co.’s U.S. sales plunged 41 percent in March, the 16th straight monthly decline, as job losses mounted and consumer confidence remained low.
Obama Said to Conclude Bankruptcy Is Most Likely Option for GM, Chrysler President Barack Obama believes a quick, negotiated bankruptcy is the most likely way for General Motors Corp. to restructure and become a competitive automaker, people familiar with the matter said.
U.S. Manufacturing Shrinks for 14th Straight Month as Factories Pare Costs Manufacturing in the U.S. contracted for a 14th straight month in March as factories kept on cutting production, though a spike in new orders and the lowest inventories since 1982 indicate the industry may be stabilizing.
CDOs Become `Unmanageable' as Contract-Trading Costs Surge, Fitch Reports Managers of collateralized debt obligations are struggling to operate the funds because the cost of trading the underlying contracts has soared, according to a report by Fitch Ratings.
Thornburg Mortgage, `Jumbo' Home Lender, to File for Bankruptcy, Liquidate Thornburg Mortgage Inc., the “jumbo” residential loan specialist battling a slump in home sales and the collapse of mortgage markets, plans to file for bankruptcy protection and shut down.
source: Bloomberg
