Duggal's India Fund Eliminates Bullish Bets on Uncertain Election Results Sanjiv Duggal, the HSBC Holdings Plc asset manager who predicted the rebound in Indian stocks this year, said the hedge fund he manages has eliminated bullish bets on equities due to the uncertain outcome of the elections.
India's Stocks Advance For 10th Week on Elections, Economic Growth Outlook India’s stocks rose for the 10th week, the longest winning streak in almost three years, as the ruling party said it was confident of retaining power without support from the Communists after voting in general elections closed.
Indea Capital Hedge Fund Plans to Buy, Not `Panic,' on India Poll Results Indea Capital Pte, an India-focused hedge fund that manages about $300 million, plans to buy shares even if India’s election results disappoint investors, said Chief Investment Officer Raj Mishra.
Aban Offshore Shares Climb to Four-Month High on Debt Restructuring Plans Shares of Aban Offshore Ltd., an Indian oil-drilling company, advanced to their highest in four months on speculation the company may renegotiate to improve the terms of its debt.
Bajaj Says Indian Sugar Prices Will Gain 8% Next Year as Stockpiles Drop Sugar prices in India, the world’s biggest user, may be 8 percent higher on average next year as a decline in output squeezes supplies, Bajaj Hindusthan Ltd., country’s biggest producer, said.
Jet Airways India Cuts Jobs, Routes to Reduce Costs as Travel Demand Falls Jet Airways (India) Ltd., the nation’s biggest airline by market value, cut jobs, closed down ticketing offices and reduced routes to pare costs amid falling demand for travel.
Indian Rupee Gains Most in a Week as Fund Inflows Rise, Before Vote Count India’s rupee gained for the first time in three days after data showed share purchases by overseas investors exceeded sales by the most in 15 months.
Crude Oil Futures Fall Amid Speculation Worldwide Fuel Demand May Decline Crude oil fell, retreating from a six-month high of $60 a barrel earlier this week, on concern the global economic recovery may falter, reducing demand for fuel.
GM Seeks to Close 1,100 Dealers Holding $2.5 Billion in Vehicle Inventory General Motors Corp. is sending termination notices today to 1,100 U.S. dealers with about $2.5 billion in unsold vehicles as the automaker starts shrinking its retail network, a person familiar with the matter said.
Industrial Output in U.S. Falls at Slower Pace as Recession's Grip Eases Industrial production contracted the least since October last month and New York’s manufacturing slump eased further in May, signaling the recession’s grip is loosening.
Stocks in U.S. Advance as Data, Insurer Bailout Temper Valuation Concern U.S. stocks advanced as reports signaled the contraction in manufacturing is abating and the government granted bailout funds to insurers, tempering concern the two-month rally in equities outpaced the economic outlook.
SunTrust Plans to Offer Up to $1.25 Billion of Stock, Cuts Dividend by 90% SunTrust Banks Inc., the Atlanta- based company ordered to raise capital after U.S. stress-tests, plans to offer as much as $1.25 billion in common stock and slash the quarterly payout to a penny from 10 cents.
Blackstone Cancels Plan to Start $1 Billion Asian Event-Driven Hedge Fund Blackstone Group LP, the world’s biggest buyout company, canceled a plan to start a hedge fund that initially aimed to invest as much as $1 billion in Asian companies affected by events such as mergers and reorganizations.
source: Bloomberg
