India Says It's Yet to Decide on Increasing Borrowing; 10-Year Bonds Rise India’s government refrained from increasing its borrowing plan, saying it hasn’t yet decided on the borrowing schedule for the first half of the financial year ending March 2010, Finance Secretary Ashok Chawla said today.
Sensitive Index Rises a Fourth Day, Led by Commodity Producers, Automakers India’s benchmark stock index rose for a fourth day, extending May’s biggest monthly surge in 17 years, led by commodity producers and automakers.
Coffee Exports From India Drop 19% as Excessive Rainfall Reduces Harvest Coffee exports from India, Asia’s third-biggest supplier, dropped 19 percent in the first five months of this year after excessive rainfall damaged the crop in the nation’s main growing region.
India's Monsoon Rains to Revive Fully This Week After Stalling Last Month India’s monsoon, which accounts for four-fifths of the nation’s annual rains, may fully revive by June 4 and advance in to the main cotton and sugar cane-growing regions, the state-owned weather bureau said.
Rupee Closes at Eight-Month High as Foreigners Add to Holdings on Recovery India’s rupee closed at an eight- month high as local share purchases by foreign funds in May exceeded sales by the most in 19 months.
India's Hotel Stocks Surge on Speculation of Government Loan, Tax Breaks Indian Hotels Co., the best performer on the Bombay Stock Exchange’s 100 Index, led hotel stocks higher on speculation the government will classify them as infrastructure companies subject to lower lending and tax rates.
Asian Stocks Rise on China Manufacturing, Commodity Prices; Cnooc Climbs Asian stocks rose, extending the longest monthly winning streak since the financial crisis began in 2007, as an expansion in Chinese manufacturing for a third month drove commodity prices higher.
GM Files for Bankruptcy in Bid to Regain Profits With $50 Billion U.S. Aid General Motors Corp., the world’s largest car maker until its 77-year reign ended last year, filed for bankruptcy protection in the U.S. with a plan to create a 21st-century company that can compete in world markets.
Stocks in U.S. Climb, Extending Global Rally as Dollar, Treasuries Decline U.S. stocks climbed, extending a global rally that sent the MSCI World Index to the highest level since November, and oil and metals advanced as manufacturing growth in China signaled the worst of the global recession may be ending. Treasuries declined and the dollar weakened.
Construction Spending in U.S. Unexpectedly Climbs as Housing Slump Eases Spending on construction in the U.S. unexpectedly rose in April as the housing slump eased and more commercial projects got underway.
Citigroup Stuck With Bernanke Ownership Offer American Banks Vow to Refuse When financial stocks slumped in February to the lowest level in at least 17 years, U.S. Federal Reserve Chairman Ben S. Bernanke told Congress the government might end up owning “substantial” stakes in the country’s biggest banks.
GM, Citigroup Booted From Dow Jones Industrials; Travelers, Cisco Join 30 General Motors Corp. and Citigroup Inc. were removed from the Dow Jones Industrial Average, replaced by Cisco Systems Inc. and Travelers Cos., after the first global recession in 70 years crippled their earnings and sent their shares down more than 90 percent.
U.S. Auto Market Likely Tumbled 35% in May on Chrysler Bankruptcy, Economy Chrysler LLC, idling plants and shutting dealerships in bankruptcy, probably helped shrink the U.S. auto market by 35 percent in May as the industry endured its worst start to a year since at least 1976.
Commodities Rise Fastest Since '85 as Goldman Sees 19% Gain Beating Stocks Manufacturers preparing for an economic rebound are rebuilding inventories of everything from benzene to plywood, sparking a commodities rally that Goldman Sachs Group Inc. says will produce 19 percent returns in a year.
source: Bloomberg
