India Will Step Up Spending This Year to Support Growth, Mukherjee Says India’s Finance Minister Pranab Mukherjee said the government will continue to step up spending this year to support growth, risking a wider budget deficit.
Stocks in India Rise Most in a Week; Metals, Infrastructure Companies Gain India’s benchmark stock index rose the most in a week, led by metal producers and construction companies, after copper prices climbed and the government said it will accelerate spending on infrastructure.
India May Borrow More Than Planned in 1st Half of Fiscal Year, Chawla Says India may borrow more than scheduled in the first half of the fiscal year as it “frontloads” some bond sales, Finance Secretary Ashok Chawla said.
Jindal Steel More Than Doubles Profit After Increasing Its Power Capacity Jindal Steel & Power Ltd., India’s second-biggest steelmaker by market value, said full-year profit more than doubled after increasing power-generation capacity.
Rupee Gains as U.S. Data Signaling Easing Recession Spurs Rally in Stocks India’s rupee gained for the first time this week as signs of a global recovery boosted stocks, spurring optimism foreign investors will increase their holdings of the nation’s shares.
Indian Mills May Slow Raw Sugar Imports as Global Prices Rise, Group Says Sugar mills in India, the world’s biggest consumer, may import less raw sugar than previously forecast in the year to Sept. 30 after global prices rose while local rates fell, an industry group said.
Investors Should Buy Indian Equities on Dips, Reliance Mutual's Kela Says Investors should buy Indian equities when markets decline as stocks will rally after elections ensured a stable government that will be able to focus on economic growth, the nation’s largest money manager said.
Sugar Prices Tumble in New York on Speculation Indian Will Slow Imports Sugar futures in New York dropped the most in a week on speculation that India will import less than forecast.
GM Bondholders Reject Offers to Swap Debt for Equity, Hastening Bankruptcy General Motors Corp. failed to get 90 percent of its bondholders to swap their claims for stock, pushing the largest U.S. automaker closer to bankruptcy.
`Problem' Banks in U.S. Climb to 305, Highest Level Since 1994, FDIC Says U.S. “problem” banks climbed 21 percent to the highest total in 15 years in the first quarter, and provisions set aside for loan losses weighed on industry earnings, the Federal Deposit Insurance Corp. said.
Home Resales in U.S. Increase More Than Forecast Amid Foreclosure Auctions Home resales in the U.S. gained in April as foreclosure auctions and improved affordability spurred bargain hunters.
Stocks in U.S. Fluctuate as Technology Rally Offsets Concern About Banks U.S. stocks fluctuated as SanDisk Corp. led a rally in technology shares, while banks slumped after the Federal Deposit Insurance Corp. said the number of “problem” banks grew to the most in 15 years.
Bain Capital Said to Be Leading KKR in Offer for 20% Stake in China's Gome Bain Capital LLC may buy as much as 20 percent of Gome Electrical Appliances Holdings Ltd., China’s second-largest electronics retailer, four people familiar with the discussions said.
Bank of America Has Raised $26 Billion in Capital Since Stress-Test Result Bank of America Corp. has raised almost $26 billion in response to U.S. stress tests, about 76 percent of the goal, including a $5.9 billion accord to convert privately held preferred shares into common stock.
Warburg Pincus Said to Consider $1.4 Billion FiberNet Communications Sale Warburg Pincus LLC, the New York- based leveraged buyout firm, may sell central and east European cable-television operator FiberNet Communications, three people familiar with the plan said.
source: Bloomberg
