Satyam Names Gurnani Chief as Mahindra Rebuilds Company After Fraud Probe Satyam Computer Services Ltd. named Chander Prakash Gurnani chief executive officer as new owner Tech Mahindra Ltd. starts to reorganize the company at the center of India’s biggest corporate fraud probe.
India Levies Safeguard Tax of as Much as 30% on Aluminum Bought From China India imposed safeguard duty of as much as 30 percent on import of aluminum products from China to protect domestic companies..
Indian Commodity Futures Turnover to Spurt as Prices Rebound, Khatua Says The Multi Commodity Exchange of India Ltd., the world’s third-biggest bullion bourse, and its domestic rivals may lift turnover by more than 20 percent as commodity prices rebound and a new exchange starts next month.
Bombay Stock Exchange to Halt Derivatives in Indian Oil Corp, Six Others The Bombay Stock Exchange, Asia’s oldest, said it will halt trading in derivatives of Indian Oil Corp., the nation’s biggest refiner, and six other companies as they no longer meet the regulator’s eligibility requirement.
India Says Surge in Potato Prices May Not Abate, Rules out Trading Curbs India, which lifted a seven-month ban on trading potato futures in December, ruled out new curbs to cool prices that have more than doubled this year and said the rally may not end soon.
Bharati Shipyard to Lift Great Offshore Bid, Countering ABG Shipyard Offer Bharati Shipyard Ltd., locked in a bidding war with ABG Shipyard Ltd. for Great Offshore Ltd., said it will top its rival’s offer for the Indian drilling company.
Government Bonds Gain on Speculation Two-Month High Yields Attract Buyers India’s five-year bonds gained on speculation yields near the highest in more than two months will attract investors.
Credit Suisse, Deutsche Bank Settle Huntsman Claims for $316 Million Each Credit Suisse AG and Deutsche Bank AG agreed to pay a total of $1.73 billion in cash and financing to settle a lawsuit with Huntsman Corp. over its failed merger, the latest measure of the price of abandoning a deal because of a worsening economy.
Second Stimulus Effort to Revive U.S. Economy Isn't Yet Needed, Obama Says President Barack Obama said he expects the U.S. unemployment rate will exceed 10 percent this year, though a second stimulus package isn’t needed yet.
Dollar Drops Most in Six Weeks Against Euro as Rate-Rise Speculation Fades The dollar fell against the euro by the most in six weeks on speculation the Federal Reserve will temper expectations for an interest-rate increase this year in an attempt to lower borrowing costs.
Canada's Recession Has Now Become as Deep as Downturn in U.S., Carney Says Bank of Canada Governor Mark Carney said his country’s recession is now as deep as in the U.S., according to a person who heard his remarks today in Washington.
Home-Price Decline Spurs Second Straight Monthly Increase in U.S. Resales Sales prices of existing homes dropped 17 percent in May from a year before, spurring a second straight gain in purchases and helping reduce the nation’s glut of unsold properties.
Chrysler Can't Make Cars Because of Legal Dispute Over Tools, Lawyer Says Chrysler Group LLC, created out of the best assets from its bankrupt predecessor, can’t make new cars until it gets needed tools tied up in legal disputes, a lawyer told a judge in charge of the reorganization.
FDIC May Extend Guarantee for Bank Accounts Exceeding $250,000, Bair Says The Federal Deposit Insurance Corp. said it may temporarily extend a program guaranteeing accounts that don’t pay interest as it moves to maintain confidence in the banking system while weaning companies from government aid.
source: Bloomberg
