Asian Airline, Hog-Related Stocks Decline on Swine Flu; Drugmakers Advance Airlines and meat-processing companies slumped in Asia on concern the growing number of swine-flu cases in the U.S. and Mexico will slow a recovery in the global economy and hurt earnings. Medical shares gained.
Cipla Can Supply 1.5 Million Doses of Generic Tamiflu to Fight Swine Flu Cipla Ltd., India’s second-biggest drugmaker by market value, said it can supply 1.5 million doses of generic Tamiflu drugs to help fight an outbreak of swine flu.
Sensitive Index Advances for a Third Day; ICICI Climbs on Goldman Upgrade India’s Sensitive index rose for a third day. ICICI Bank Ltd., the nation’s second-largest by assets, advanced after its rating was raised at Goldman, Sachs & Co. on improving earnings.
Rupee Weakens on Speculation India's Importers Are Purchasing More Dollars India’s rupee dropped for the first time in four days on speculation some importers increased dollar purchases to settle month-end bills.
Sell Indian Stocks Ahead of National Election Results, Credit Suisse Says Investors should lower their holdings of Indian stocks on concern the nation’s ongoing elections may prove a “sharp disappointment,” Credit Suisse Group said.
Reliance Resumes Oil Production at Offshore Field After Monthlong Shutdown Reliance Industries Ltd., India’s most valuable company, resumed oil production at a field off the nation’s east coast after a monthlong shutdown, according to the country’s oil regulator.
Ten-Year Bonds Drop Most in a Month as Eight-Week Low Yields Deter Buyers India’s 10-year bonds fell the most in a month, reversing earlier gains, as yields at the lowest level in eight weeks prompted investors to sell the securities.
Stocks, Grains, Peso Decline as Swine Flu Spreads; Treasuries, Yen Advance U.S. stocks declined, extending a global drop, while the yen, dollar and Treasuries gained as the swine flu outbreak spread. Mexico’s peso fell the most in four months and grain prices retreated.
GM Offers to Exchange $27 Billion of Debt for Equity to Avert Bankruptcy General Motors Corp. asked its bondholders to exchange $27 billion of claims for equity to help the biggest U.S. automaker avert bankruptcy.
Chrysler Reaches Labor Agreement With U.S. Union, Ratification in Canada Chrysler LLC, racing against an April 30 deadline to cut labor costs or face bankruptcy, reached a tentative contract agreement with its biggest U.S. union and won ratification of an accord with Canadian workers.
Goldman Sachs Increases Risk-Taking at Fastest Pace in Wall Street Trading Goldman Sachs Group Inc., unbowed by the securities industry’s worst year since the Great Depression, increased its trading bets at the fastest rate on Wall Street.
Bernanke Credit Warming Prompts Record Company Debt With Libor-OIS Retreat Wherever you look, Federal Reserve Chairman Ben S. Bernanke’s efforts to repair global credit markets are showing signs of working.
Stress Tests May Compel U.S. Banks to Convert TARP Stock to Common Shares U.S. banks that received results of their federal stress tests last week were given three options if they need additional capital to withstand the recession. The reality is they may only have one.
Mexico's Stocks Cut to `Underweight' from `Top Pick' by UBS on Swine Flu Mexican stocks were downgraded by UBS AG to “underweight” from “top pick” among Latin American equities on concern the country’s economic outlook may worsen because of the outbreak of a deadly swine flu.
source: Bloomberg
