Sensitive Index Falls Most in Month on June Borrowing, Bharti, Larsen Drop Indian stocks fell the most in a month on concerns the new government will have to borrow more to boost the economy. Bharti Airtel Ltd. dropped for a second day after a proposal to buy a South African company.
India Bans Sugar Futures Trading as Government Considers Duty-Free Imports India banned futures trading in sugar, a day after Farm Minister Sharad Pawar said the government may allow duty-free imports of raw sugar beyond the Sept. 30 deadline to bolster local supplies.
Ten-Year Bond Yields at Six-Week High as India May Borrow More Than Plan India’s 10-year bond yields were at a six-week high after an official at the finance ministry said the government may borrow more than plan in June for a second month.
Tata Consultancy's Chandrasekaran to Take Over as Chief Executive Officer Tata Consultancy Services Ltd., India’s largest provider of software services, said Chief Operating Officer N. Chandrasekaran will take over as the chief executive officer starting Oct. 6. The tenure of present Chief Executive Officer S. Ramadorai has been extended until Oct. 5, the company said in a statement today.
Oil India May Sell Shares to Public, Refiners by September, Chairman Says Oil India Ltd., the second-biggest state-run energy explorer, may sell shares in an initial public offer by September, taking advantage of the stock market’s gains after the re-election of Manmohan Singh’s government.
Mukherjee Sees Signs of Reviving Economic Growth Ahead of India's Budget India’s Finance Minister Pranab Mukherjee said there are indications of a revival in economic growth, adding that he will use next month’s budget to build on the recovery.
G8 Nations Warn That Falling Energy Spending May Trigger Oil-Price Surge Reduced spending on energy threatens to slow the economic rebound, trigger a surge in prices and hurt future prosperity, the Group of Eight industrialized nations said at the close of their meeting in Rome.
Rupee Slumps Most in Three Months on Decline in Stocks, Technical Factor India’s rupee dropped the most in almost three months as North Korean missile and nuclear tests fueled tension in Asia, spurring concern foreigners will pare holdings of regional stocks.
Consumer Confidence in U.S. Increases to the Highest Level Since September Confidence among U.S. consumers jumped this month to the highest level since September, reflecting growing perceptions that the job market will improve.
Stocks in U.S. Extend Advance as Consumer Confidence Index Tops Estimates U.S. stocks rose, sending the Standard & Poor’s 500 Index higher for the first time in five days, as the biggest jump in consumer confidence in six years spurred optimism the worst of the recession is over.
Home Prices in 20 U.S. Cities Decline More Than Forecast Amid Foreclosures Home prices in 20 major metropolitan areas fell more than forecast in March as foreclosures surged, threatening to extend the housing slump.
U.S. Financial Overhaul Should Include Merger of SEC, Agencies, Group Says U.S. financial regulations must be “entirely reorganized” by merging agencies such as the Securities and Exchange Commission and the Commodity Futures Trading Commission, adding to the Federal Reserve’s powers and setting rules for derivatives, an industry group recommended.
Lehman's Bankruptcy Haunts Stocks With S&P 500 Cheapest to Corporate Bonds By almost any measure, credit markets have recovered most of the losses caused by September’s collapse of Lehman Brothers Holdings Inc. Not U.S. stocks.
GM Gets Concessions From Canadian Union Before Probable Bankruptcy Filing The Canadian Auto Workers union, almost one month after amending its contract with Chrysler LLC, ratified a cost-saving labor agreement with General Motors Corp. yesterday to protect jobs in a probable June 1 bankruptcy.
Old Mutual Says Capital Increase May Open Way for Resumption of Dividends Old Mutual Plc, the best-performing European insurance stock this year, said it may consider paying dividends again by the end of 2009.
source: Bloomberg
