Tech Mahindra Wins Satyam Computer Auction, Outbidding Larsen, Wilbur Ross Tech Mahindra Ltd. won the bidding for control of Satyam Computer Services Ltd., the software exporter at the center of India’s biggest fraud inquiry, beating Wilbur Ross and Larsen & Toubro Ltd. with a $579 million offer.
Exports From India Slide by Record in March As Global Recession Deepens India’s exports plunged the most on record in March, extending the longest declining streak in a decade, as recessions in the U.S. and Europe damped demand for the nation’s products.
Stocks in India Rise, Sensex Index Posts Longest Winning Run in 18 Months Indian stocks rose, with the benchmark index posting its longest winning streak in more than 18 months, on optimism government stimulus packages will help revive global economies.
Indian Growth Rate Slows to Below 7% as Recession Curbs Demand, Singh Says India’s economy expanded at less than 7 percent last fiscal year, the slowest pace in six years, as the global recession curbed demand for exports, Prime Minister Manmohan Singh said.
Asian Stocks Climb on Japan Stimulus, China Lending; U.S. Futures Decline Asian stocks climbed for a third day after Japanese Prime Minister Taro Aso more than doubled stimulus spending and Chinese lending jumped by a record. U.S. index futures declined.
Rupee Climbs to 7-Week High as India Stimulus Plans Bolster Risk Appetite India’s rupee climbed to a seven- week high on speculation government stimulus packages will break a global recession that drove funds from emerging markets.
Government Bonds Decline on Concern Yields Will Climb at Auction This Week India’s bonds fell, reversing earlier gains, on speculation investors will demand higher yields at a debt sale this week, the third this month.
Express Scripts Will Acquire Wellpoint's NextRx Business for $4.68 Billion Express Scripts Inc., the third- largest manager of U.S. drug benefits, agreed to buy WellPoint Inc.’s pharmacy-benefit management unit for $4.7 billion, gaining about 25 million members.
Pimco Total Return Increases U.S. Government Debt Holdings to 28% From 15% Bill Gross, manager of Pacific Investment Management Co.’s $144 billion Total Return Fund, increased his holdings of U.S. government debt to 28 percent in March, the highest percentage in almost two years.
Goldman Starts $5.5 Billion Fund to Buy Assets From Private-Equity Firms Goldman Sachs Group Inc., the sixth-biggest U.S. bank, raised a fund with about $5.5 billion in capital commitments to purchase private-equity assets on the secondary market.
Faber Says S&P 500 Index May Rise to 1,000 as U.S. Aid Boosts Bank Profits The Standard & Poor’s 500 Index may rise 17 percent to 1,000 in the next three months as government spending boosts bank profits, investor Marc Faber said.
Japan's Wholesale Prices Fall at Fastest Pace Since 2002 as Slump Deepens Japan’s wholesale prices fell at the fastest pace in almost seven years, adding to signs the world’s second-largest economy may return to deflation.
Microsoft Lands Big Cable-TV Fish as Clients Clamor for Snappier Web Ads Microsoft Corp. beat Yahoo! Inc. and Google Inc.’s YouTube for a seven-figure advertising campaign with Discovery Communications Inc., its first to simultaneously combine Internet, mobile and video-game ads.
source: Bloomberg
