India's Credit Ratings May Face Downward Pressure on Deficit, Moody's Says India’s credit rating may come under pressure if Prime Minister Manmohan Singh’s government is not able to rein in a widening budget deficit, Moody’s Investors Service said.
Inflation Rate Holds Below 1% for 11th Week, Giving Room for India Reforms India’s inflation rate held below 1 percent for an 11th straight week, giving policy makers room to take steps to buoy a slowing economy.
Steel Authority Profit Falls on Declining Metal Prices, Record Coal Costs Steel Authority of India Ltd., the nation’s second-biggest steelmaker, reported a drop in profit for the second straight quarter as metal prices fell and coal costs remained at a record.
Mahindra Profit Tops Estimate, Helped by Accounting Change, Sale of Stake Mahindra & Mahindra Ltd., India’s largest maker of sport-utility vehicles and tractors, reported a better-than-estimated 89 percent surge in fourth-quarter profit, helped by accounting changes and the sale of a stake.
Tata Power Fourth-Quarter Profit Rises 58 Percent to 3.54 Billion Rupees Tata Power Ltd., India’s biggest electricity generator outside state control, posted a 58 percent increase in fourth-quarter profit.
Larsen & Toubro Profit Climbs 3.3%, Smallest Quarterly Advance Three Years Larsen & Toubro Ltd., India’s biggest engineering company, reported its smallest quarterly profit gain in almost three years as the recession damped machinery orders.
FDA Is Reviewing Ranbaxy's Corrective Plan on Drugs to the U.S. After Ban The U.S. drug regulator is reviewing a “corrective action” plan from India’s Ranbaxy Laboratories Ltd. after some medicines from its plants in the South Asian nation were barred from being exported to the U.S.
Stocks in India Advance to One-Week High After Analysts Forecast Recovery India’s benchmark stock index rose to the highest in more than a week after UBS AG and Standard Chartered Plc said the economy is showing signs of recovery. Larsen & Toubro Ltd. and Bharti Airtel Ltd. led gains.
Mortgage Delinquencies, Foreclosures Rise to Records in U.S. Amid Job Cuts Mortgage delinquencies and foreclosures rose to records in the first quarter and home-loan rates jumped to the highest since March as the government’s effort to revive the housing market lost momentum.
U.S. Durable-Goods Orders Hovered Near Lowest Level in 13 Years in April Orders for U.S. durable goods hovered near the lowest level in 13 years in April as demand for business equipment weakened, indicating that investment will be one of the last areas of the economy to recover.
General Motors Said to Get 15% Participation in Failed Bond Exchange Offer General Motors Corp. got about 15 percent of bondholders to participate in its failed debt exchange offer before it expired this week, according to a person familiar with the situation.
Rising U.S. Mortgage Rates Cloud Risk-Appetite Renewal, Credit Suisse Says A jump in interest rates on typical new U.S. mortgages to the highest since February may end a “two-month-old rebound in risk appetite,” according to Credit Suisse Group analysts.
Frank Rules Out Creating Single U.S. Bank Regulator Similar to U.K.'s FSA House Financial Services Committee Chairman Barney Frank ruled out creating a single U.S. bank watchdog similar to the U.K.’s Financial Services Authority as part of an overhaul of regulations.
Catastrophe Bond Market Rebounds After Strike by Man-Made Lehman Disaster Catastrophe bonds, the investments that pay out as long as there are no major hurricanes or earthquakes, are staging a comeback after last year’s financial collapse brought the market to a halt.
Time Warner Will Spin Off AOL Division, Undoing Failed $124 Billion Merger Time Warner Inc. will spin off the entire AOL Internet unit by the end of the year, reversing a failed $124 billion merger that triggered record losses.
source: Bloomberg
