DLF's Founding Singh Family Raises $783 Million Selling 9.9 Percent Stake DLF Ltd.’s founders sold a 38.6 billion rupee ($783 million) stake in India’s biggest real estate company, raising funds to buy shares in a group venture from D.E. Shaw & Co.
India Moves to `Claw Back' Funds Hidden in Swiss Banks as Elections End India’s next government that emerges from elections ending today needs to follow through on pledges to bring back cash stashed overseas to help fund an $85 billion economic stimulus plan and bolster markets, Credit Suisse Group AG and Credit Agricole SA say.
Sensitive Index Falls on Last Day of Elections; Infosys, Reliance Decline India’s stocks fell, led by Reliance Industries Ltd. and Infosys Technologies Ltd., on concerns of a political logjam after no political party appeared likely to emerge as a clear winner on the last day of general elections.
Ten-Year Government Bonds Climb as Highest Yields in a Month Attract Funds India’s benchmark 10-year bonds gained on speculation banks and investors will put spare cash into debt after their yield yesterday reached a one-month high.
India's Vegetable Oil Imports May Reach Record on Demand, Association Says India, the world’s biggest buyer of vegetable oils after China, may import a record quantity in the year to Oct. 31 because of higher demand and duty-free purchases amid a decline in local oilseed output.
Rupee Declines Most in Two Weeks as Importers Sell Currency, Elections End India’s rupee slid by the most in more than two weeks on speculation some companies took advantage of the currency’s recent gains to buy cheaper foreign exchange.
Indian Oil, Rival Refiners May Get $2 Billion Bonds to Help Make Profit Indian Oil Corp., the nation’s largest refiner, and state-run rivals may get 100 billion rupees ($2 billion) of bonds as partial compensation for selling fuels below cost, boosting fourth-quarter earnings, an official said.
Retail Sales in U.S. Unexpectedly Drop as Unemployment Cuts Into Purchases Retail sales in the U.S. unexpectedly dropped in April for a second month, indicating that the rising unemployment rate is prompting consumers to boost their savings.
U.S. Stocks Fall After Retail Sales Slide Amid Job Losses; Fortune Drops U.S. stock futures slid as retail sales unexpectedly decreased in April, companies from ING Groep NV to Applied Materials Inc. reported disappointing earnings and the Bank of England said the U.K. economy faces a slow recovery.
ECB Likely to Raise Bond-Purchase Program Above $82 Billion, Kranjec Says European Central Bank council member Marko Kranjec said the bank is likely to increase its asset- purchase program from an initial 60 billion euros ($82 billion) and may also broaden its scope from covered bonds.
MGM Mirage Amends Credit Facility, Will Sell $2.5 Billion in Stock, Bonds MGM Mirage, the casino company controlled by Kirk Kerkorian, plans to sell $2.5 billion in new stock and bonds to pay down near-term obligations as it restructures more than $14 billion in debt to avoid default.
Global Confidence Increases as Bernanke Predicts Recovery, Stocks Rebound Confidence in the global economy rose to the highest level in 19 months as central bankers pointed to signs of a recovery and stress tests on U.S. banks reassured investors, a Bloomberg survey of users on six continents showed.
AIG's Three Trustees Shun `Shadow Board,' Say They'll Find New Directors American International Group Inc.’s three trustees, assigned to manage the U.S. stake in the insurer, are seeking new board members to overhaul pay practices and restore confidence after four government bailouts.
OPEC Boosts Oil Output for First Time Since July, Backing Off Supply Cuts The Organization of Petroleum Exporting Countries boosted oil production last month for the first time since July, exceeding its quota by 967,000 barrels a day and backtracking its implementation of supply cuts intended to stem falling prices.
source: Bloomberg
