Stephen Roach Says India May Surpass China, Others in Asia-Pacific Region Stephen Roach, chairman of Morgan Stanley Asia, is more optimistic about economic growth prospects in India than China, saying the country may outperform others in the Asia-Pacific region.
Infosys Aims to Raise Share of Non-U.S. Sales to 60%, Gopalakrishnan Says Infosys Technologies Ltd. aims to increase the share of revenue from markets other than the U.S. to 60 percent from 40 percent now, Chief Executive Officer Senapathy Gopalakrishnan said.
Asian Stocks Gain for Fourth Day on Growth Optimism; Harvey Norman Climbs Asian stocks rose for a fourth day, led by banks and energy companies, as faster-than-expected Australian economic growth and U.S. home sales fueled optimism the global recession is easing.
Most Indian Stocks Rise; Metal Producers Gain, Reliance Industries Drops Most stocks on India’s benchmark index rose, led by Tata Steel Ltd. and metals producers. Reliance Industries Ltd. and ICICI Bank Ltd. fell as some investors judged recent gains excessive.
Monsoon to Stagnate for Three More Days, May Miss June 10 Date With Mumbai India’s monsoon, which accounts for four-fifths of the nation’s annual rainfall, will be stagnant for three days, the state weather office said, delaying its progress towards the main cotton and sugar cane growing areas.
Bonds Gain for Fourth Day on India's Borrowing Plan, Central Bank Purchase India’s 10-year bonds gained for a fourth day after the government said it will stick to its borrowing plan and as the central bank prepared to buy existing securities at an auction tomorrow.
Bernanke Warns Long-Term U.S. Budget Deficits Threaten Financial Stability Federal Reserve Chairman Ben S. Bernanke said large U.S. budget deficits threaten financial stability and the government can’t continue indefinitely to borrow at the current rate to finance the shortfall.
Stocks in U.S. Drop on Concern Over Job Losses, Valuations; Aetna Tumbles U.S. stocks fell for the first time in five days, extending a worldwide slump, as a report showed employers cut more jobs than forecast and the Standard & Poor’s 500 Index traded at the most expensive in eight months.
JPMorgan Is Said to Disband Hedge Fund, Buyout Investing Units Led by Case JPMorgan Chase & Co. is disbanding an investment-banking unit that wagers the company’s money on hedge funds, leveraged buyouts and real estate, two people familiar with the plan said.
Service Industries Index in U.S. Climbs; ADP Reports Mounting Job Losses Service industries in the U.S. shrank at a slower pace in May, while job losses mounted, indicating that any economic recovery will be slow to develop.
Gold Falls Most in Two Months as Dollar Gain Curbs Demand; Silver Slumps Gold fell the most in almost two months as a rebounding dollar curbed demand for the metal as an alternative investment. Silver also declined.
Ballmer Says Microsoft Will Move Jobs Out of U.S. If Obama Tax Plan Passes Microsoft Corp. Chief Executive Officer Steven Ballmer said the world’s largest software company would respond to higher taxes on U.S. companies’ foreign profits by moving some employees offshore.
Burbank's Global Strategy Fund Rises 24% as Fertilizer Investments Pay Off John Burbank III’s Global Strategy hedge fund rose 24 percent in May, its biggest monthly return in almost two years, as investments in fertilizer companies surged.
source: Bloomberg
