Satyam Founder Raju Charged With Fraud as India Prepares Sale of Company India’s Central Bureau of Investigation filed charges against Satyam Computer Services Ltd.’s disgraced founder Ramalinga Raju for his role in the country’s biggest corporate accounting fraud case.
Indian Rupee Weakens as Global Stock Slump Damps Investor Risk Appetite India’s rupee weakened for the first time in five days as a slide in Asian stocks fueled concern the global recession will damp risk appetite.
Stocks in India Rally for Fifth Day, Raising Sensex to Highest in 6 Months Indian stocks rose for a fifth day, boosting the benchmark index to its highest in almost six months, on speculation overseas investors stepped up purchases of the nation’s equities.
India Cabinet May Consider Plan to Allow Duty-Free Sugar Imports Tomorrow India’s cabinet may tomorrow discuss a plan by the food ministry to allow duty-free import of refined sugar to meet a shortage in the world’s top consuming nation, a government official said.
NTPC Fourth-Quarter Profit Climbs 30 Percent on Rising Indian Power Demand NTPC Ltd., India’s biggest electricity generator, said profit rose 30 percent in the fourth quarter after higher efficiency helped production.
India Passenger Car Sales Grow at Weakest Pace in Seven Years on Slowdown India’s passenger car sales grew at the slowest pace in at least seven years as the economy cooled and a credit crunch damped demand.
Ten-Year Bonds Advance as Cash at Banks Stokes Demand for Government Debt India’s 10-year bonds gained for the third time in four days as rising surplus cash at banks stoked demand for debt.
Credit-Default Swap `Big Bang' Loosens Dealers' Grip as Pimco, Primus Gain European two-year government notes climbed for a third day after a report showed orders for German factory goods dropped in February for a sixth month.
Stocks in U.S. Advance on Pulte's Centex Acquisition; Life Insurers Climb U.S. stocks gained, snapping a two- day losing streak, as Pulte Homes Inc. agreed to buy Centex Corp. to create the nation’s largest homebuilder and life insurers jumped on prospects of a government bailout.
Pulte Agrees to Acquire U.S. Homebuilder Centex for $1.3 Billion in Stock Pulte Homes Inc. agreed to buy Centex Corp. for $1.3 billion in an all-stock deal that creates the largest U.S. homebuilder by revenue and throws each of them a lifeline in the worst housing slump since the 1930s.
Auto Suppliers Climb on $3.5 Billion in U.S. Aid Managed by GM, Chrysler U.S. auto-parts maker shares rose after General Motors Corp. and Chrysler LLC said they will start administering $3.5 billion in federal aid aimed at helping their suppliers.
Bank of America Needs to Raise $36.6 Billion in Capital, Oppenheimer Says Bank of America Corp., the largest U.S. bank, needs to raise $36.6 billion in equity to bring capital ratios in line with its peers, according to Oppenheimer & Co.
U.S. Wholesale Inventories Fall Twice as Much as Forecast; Sales Rise 0.6% Sales at U.S. wholesalers rose in February for the first time in eight months, contributing to a record drop in inventories that indicates distributors are well on the way to eliminating the glut in stockpiles.
Credit-Default Swap `Big Bang' Loosens Dealers' Grip as Pimco, Primus Gain European two-year government notes climbed for a third day after a report showed orders for German factory goods dropped in February for a sixth month.
Safe-Harbor 401(k) Forces U.S. Companies to Pay to Play for Savings Plans Marty McGreevy, owner of a company that designs convention booths, wanted to avoid cutting jobs by stopping payments to his employees’ 401(k) savings plan.
source: Bloomberg
