Asian Stocks Slump the Most in a Month on Resource Prices, Growth Concerns Asian stocks dropped, sending the MSCI Asia Pacific Index down the most in a month, as commodities fell and investors questioned the pace of the economic recovery.
India's `Not-for-Sale' Legal Market Draws U.S., U.K. Law Firm Investments Two weeks before Clifford Chance LLP said it would fire as many as 100 lawyers in London and New York, the world’s largest law firm by revenue announced an alliance with India’s AZB & Partners to expand operations there.
Indian Rupee Unlikely to Weaken Past 48 Against Dollar: Technical Analysis India’s rupee is unlikely to weaken past 48 against the dollar, Standard Chartered Plc said, citing trading patterns.
Sensitive Index Rises for First Day in Four; State Bank of India Advances Indian stocks rose, with the benchmark Sensitive Index snapping a three-day, 3.8 percent decline. Financial companies gained after Goldman, Sachs and Co. raised its ratings of State Bank of India and other lenders.
Reliance Industries Cut to `Sell' at Kotak Securities on Gas Price Ruling Reliance Industries Ltd., India’s most valuable company, had its stock rating cut at Kotak Securities Ltd., which cited the “unfavorable” gas price ruling the company faced from the Bombay High Court.
India Steel Ministry Plans Additional Tax on Cheap Imports to Curb Dumping India’s steel ministry proposed imposing a temporary additional tax on cheap imports, accepting local steelmakers’ demand to curb dumping.
U.S. Housing Starts Climb, Industrial Output Sinks in Sign Recovery Mixed Housing starts jumped more than forecast in May while industrial production tumbled, offering a picture of an American economy still struggling to emerge from the deepest recession in half a century.
Morgan Stanley Says It Won't Issue More FDIC-Backed Debt After Repayment Morgan Stanley, which won clearance to repay $10 billion to the U.S. Treasury last week, said today it will also cease issuing new debt that carries a guarantee from the Federal Deposit Insurance Corp.
Stocks in U.S. Drop, Led by Phone Companies, Retailers; Best Buy Retreats U.S. stocks fluctuated as an analyst downgrade dragged telephone shares lower and disappointing sales at Best Buy Co. triggered a sell-off in retailers, offsetting gains in homebuilders and health-care companies.
`Fund of Hedge Fund' Liquidations Rise to Record in Wake of Madoff Fraud Liquidations of funds that invest client money in hedge funds rose to a quarterly record in the first quarter, according to Hedge Fund Research Inc., as almost 200 closed following the December disclosure of Bernard Madoff’s $65 billion fraud.
Britain Sells $11.5 Billion of 25-Year Gilts, Surpassing Planned Amount Britain sold 7 billion pounds ($11.5 billion) of 25-year gilts, more than the amount planned, offering investors a yield almost as high as longer-maturity debt.
Republic Bancorp's 38% Gain May Sputter as Lucrative Tax Loans Draw Fire Republic Bancorp’s two-year run as the best-performing U.S. bank stock may fade as regulators clamp down on tax refund loans they call “unsafe or unsound” and new government technology makes the product potentially obsolete.
Boeing Deepens Reliance on 14-Year-Old 777 to Beat Airbus on Jets, Tankers Boeing Co. surprised the crowd at the Paris Air Show with the new plane it says can outdo the next Airbus SAS jet and win back a $35 billion military tanker deal: the 14-year-old 777.
source: Bloomberg
