Bajaj Hindusthan, Rivals May Slow Imports as Sugar Climbs to 3-Year High Sugar producers in India, the world’s biggest user, may slow imports of the sweetener for processing and sale locally after prices climbed to the highest in almost three years.
Indian Stocks Advance to Seven-Month High; Sterlite Industries, ICICI Gain Indian stocks rose, driving the benchmark index to a seven-month high. Sterlite Industries (India) Ltd. led commodity producers higher after manufacturing in China expanded for the first time in nine months.
Housing Development Finance Profit Declines 4.6% Owing to Gain in Year Ago Housing Development Finance Corp., India’s biggest mortgage lender, said fourth-quarter profit declined 4.6 percent in the absence of a one-time gain that boosted earnings a year earlier.
Mobius Says Emerging Stocks May `Break Out' Into a Bull Market by Year-End Emerging-market stocks may “break out” into a bull market at the end of the year as falling interest rates and easing inflation make equities more attractive, Templeton Asset Management Ltd.’s Mark Mobius said.
Suzlon Reviews Options on Debt Terms After Some Investors Reject Proposal Suzlon Energy Ltd., India’s biggest maker of wind-turbine generators, said it is evaluating options on an offer to change the terms of $500 million of convertible bonds after some debtors rejected the plan.
Bonds in India Decline on Speculation Investors Sold Before State Auction Indian bonds dropped by the most in more than a month on speculation some investors are cutting their holdings with a view to reinvesting the proceeds at higher yields at an auction scheduled this week.
Rupee Gains a Second Day as Capital Inflows Rise on Global Recovery Signs India’s rupee rose for a second day as overseas investors increased holdings of the nation’s shares and the currency on further signs the global recession may be drawing to an end.
Obama Seeks to End Tax-Haven Strategies That Save Companies $190 Billion President Barack Obama will propose today to outlaw three offshore tax-avoidance techniques U.S. companies such as Caterpillar Inc. and Procter & Gamble Co. want to use to save $190 billion over the next decade and make it riskier for Americans to stash money in tax-haven banks.
Stocks in U.S. Advance on Sprint Earnings; Alcoa, Freeport-McMoRan Climb U.S. stocks rose, adding to gains from the Standard & Poor’s 500 Index’s biggest monthly advance in nine years, as Sprint Nextel Corp. unexpectedly reported a profit and commodity producers rallied.
U.S. Construction Spending Unexpectedly Rises for First Time in Six Months Spending on U.S. construction projects unexpectedly rose in March for the first time in six months as increases in commercial and government projects overshadowed an ongoing drop in home building.
General Motors Bankruptcy Probable as Obama Favors UAW Union Over Lenders General Motors Corp. may be more likely to end up in bankruptcy based on the Obama administration’s willingness to place Chrysler LLC into court protection to safeguard union health-care benefits.
Chrysler's Non-TARP Lenders Object to Asset-Auction Plan, Bankruptcy Loan A group of Chrysler’s secured lenders is seeking to block the bankrupt company’s plan to sell its business at auction, with an alliance led by Fiat SpA as the primary bidder, as well as a request by the U.S. automaker for approval of a $4.5 billion Treasury loan.
DirecTV to Merge With Liberty's Entertainment Unit, Gain Control of Starz DirecTV Group Inc. , the largest U.S. satellite-TV provider, will merge with Liberty Media Corp.’s entertainment business, combining with its largest shareholder.
Buffett Lambastes Bankers, Insurers, Regulators for `Greed,' `Stupidity' Berkshire Hathaway Inc. Chairman Warren Buffett lambasted bankers, insurers and regulators for being blind to the possibility home prices could fall, and said their shortcomings caused the worst recession in half a century.
source: Bloomberg
