Asian Stocks Rally on Economic Growth Optimism; Hon Hai, BHP Billiton Gain Asian stocks rose, extending the rally that erased this year’s global losses, as better-than-expected U.S. home sales boosted shares of companies that rely on sales to the world’s largest economy.
Larsen, EADS Form Defense Venture as India Increases Spending on Security Larsen & Toubro Ltd., India’s biggest engineering company, will form a defense venture with European Aeronautic Defence & Space Co. as the nation bolsters security to match increased military spending by Pakistan and China.
Rupee Advances Most in Six Weeks as Risk Aversion Abates, Inflows Increase India’s rupee rose the most in more than six weeks as easing risk aversion among global funds bolstered demand for the nation’s assets.
India's Bonds Gain as Yields at Two-Week, Surplus Cash, Drive Purchases India’s 10-year bonds gained for the first time in four days on speculation investors were putting spare cash into debt, attracted by yields near a two-week high.
Rahul Gandhi Says Congress Party to Improve Tally in Election: India Votes India’s ruling Congress party will improve its tally of lawmakers in the country’s general elections and form the next government by focusing on improving life for the poor, leader Rahul Gandhi said.
Ratnagari May Agree to Buy Reliance Gas This Week, Cut Spot LNG Imports Ratnagiri Gas & Power Pvt. may sign an accord to buy gas from an offshore field operated by Reliance Industries Ltd., India’s most valuable company, at a board meeting this week, an official of the utility said.
Sensitive Index Ends Little Changed; Steelmakers Led by Tata Steel Advance India’s benchmark Sensitive index ended little changed. Tata Steel Ltd. led makers of the alloy higher after it raised prices on some of its products.
Fed Stress Test Results May Show 10 Banks Need Capital to Withstand Slump The Federal Reserve plans to deliver results of stress tests on U.S. banks to executives today that may show about 10 companies need additional capital to weather a deeper recession, people familiar with the matter said.
Service Industries in U.S. Shrink at Slower Pace in Sign Recession Easing Service industries in the U.S. contracted in April at a slower pace than forecast, signaling the economic slump is gradually abating.
Deutsche Bank Employee Is Sued in First Credit-Default Insider Case by SEC U.S. regulators filed their first insider-trading case focusing on credit-defaults swaps, suing a Deutsche Bank AG salesman who allegedly tipped a hedge-fund portfolio manager to a bond sale in 2006.
AMP Capital Buying Into Commodities on Expectation Growth Will Spur Demand AMP Capital Investors, which manages close to $100 billion, is plowing cash into commodities on expectation demand will strengthen with a China-led recovery in the global economy.
GMAC Has $675 Million Loss as Rising Defaults Overcome Gains in New Loans GMAC LLC, the auto and home lender that received a $6 billion government bailout, reported a first- quarter loss of $675 million on surging loan defaults and the elimination of a one-time gain from extinguishing debt.
source: Bloomberg
