India's Industrial Production Falls by Most in 16 Years Amid Global Slump India’s industrial production fell the most in 16 years in March as the worst global recession since World War II damped demand for the nation’s exports.
Sensitive Index Advances to Seven-Month High as Net Foreign Buying Gains Indian stocks rose to a seven-month high, led by Reliance Industries Ltd. and Infosys Technologies Ltd., after net foreign inflow into the country’s equities surged last week.
India's BJP to Cut Spending, Trim Deficit If Election Victor, Sinha Says India’s opposition Bharatiya Janata Party will cut spending and increase tax collection if it returns to power this month to plug a revenue shortfall that imperils growth, former finance minister Yashwant Sinha said.
Maharashtra State Sugar Output Drops by Half as Dry Weather Lowers Yields Sugar output in India’s Maharashtra state, the country’s largest producer, declined 50 percent this year after farmers reduced the area planted to the crop and dry weather lowered yields.
National Aluminium Boosting Production of Bauxite After Reopening of Mines National Aluminium Co., India’s second-biggest producer, is increasing bauxite production after reopening its mines last month, Chairman C.R. Pradhan said.
Ratnagiri Gas & Power May Shortlist Bidders for LNG Terminal Lease by July Ratnagiri Gas & Power Pvt., the operator of India’s biggest gas-fired power plant, may shortlist customers to lease its 1 million ton-a-year liquefied natural gas import terminal by July, Managing Director A.K. Ahuja said.
U.S. Trade Deficit Widens for First Time in Eight Months as Exports Slide The U.S. trade deficit widened in March for the first time in eight months as the global economic slump pushed exports to the lowest level in more than two years.
Bank of America Said to Raise $7.3 Billion From Sale of China Construction Bank of America Corp., under pressure from U.S. regulators to raise $33.9 billion, sold part of a stake in China Construction Bank Corp. for about $7.3 billion, said two people with knowledge of the matter.
Krugman Says V-Shaped Recovery Anticipated in Markets `Extremely Unlikely' Paul Krugman, Princeton University’s Nobel Prize-winning economist, said global economic prospects don’t justify the two-month rally that has restored $8.9 trillion to stock markets around the world.
Laszlo Birinyi Recommends Owning Apple, Goldman Sachs, Berkshire Hathaway The U.S. stock market’s rally may last until the middle of September and investors should buy the highest-quality companies including Apple Inc., Goldman Sachs Group Inc. and Berkshire Hathaway Inc., Laszlo Birinyi said.
Alpha to Buy Foundation for $2 Billion, Creating No. 3 U.S. Coal Producer Alpha Natural Resources Inc. agreed to buy Foundation Coal Holdings Inc. in an all-stock transaction valued at $2 billion, including debt, to create the third- largest coal producer in the United States.
Mizuho Securities to Hire 150 Bankers in London for Mergers, Stock Offers Mizuho Securities Co. plans to hire about 150 bankers in London to strengthen its mergers advisory business and start managing share and bond sales in Europe, President Keisuke Yokoo said.
Advanta to Shut Down Credit-Card Lending Amid Surge in Uncollectible Debt Advanta Corp., the issuer of credit cards for small businesses, will halt new lending for its 1 million customers next month as the recession causes a surge in loan defaults.
source: Bloomberg
