India Rains May Be Below Normal, Worsening Dry Spell, Paring Farm Output India’s monsoon rainfall, the main source of irrigation for the country’s 235 million farmers, may be below average this year, denting prospects for bigger crops of rice, oilseeds and sugar cane.
Oil & Natural Gas Profit Unexpectedly Falls 16% on Lower Indian Production Oil & Natural Gas Corp., India’s biggest energy explorer, posted an unexpected decline in fourth- quarter profit after production fell.
Investec Snubs Singh's Record Indian Bond Sales as HSBC Sees 8% Inflation International investors are balking at Indian Prime Minister Manmohan Singh’s plan to sell a record $74 billion in bonds this fiscal year, saying the country risks a junk debt rating and faster inflation.
Satyam Computer May Eliminate 8,500 Jobs in Six Months If Work Not Found Satyam Computer Services Ltd. said 8,500 idled employees may be fired in six months unless business picks up as the Indian software provider reorganizes following a $1 billion fraud.
India Should Rely on Lower Interest Rates to Stimulate Growth, OECD Says India should cut interest rates rather than boost government spending if further measures are needed to stimulate growth, the Organization for Economic Cooperation and Development said.
Sensex Index Gains as Investors Bet India to Raise Infrastructure Spending Indian stocks rose for the first time in three days, led by Larsen & Toubro Ltd. and infrastructure-related stocks, as investors bet the government will accelerate spending on roads, ports and airports.
Durable-Goods Orders in U.S. Unexpectedly Climb in Sign Recession Easing Orders for American-made durable goods unexpectedly jumped in May, adding to signs that the economic slump is easing.
Stocks in U.S. Advance on Durables Orders, Earnings From Monsanto, Oracle U.S. stocks rose for a second day after orders for durable goods unexpectedly jumped and earnings topped estimates at Oracle Corp. and Monsanto Co.
Citigroup Said to Raise Base Salaries by Up to 50% After Bonuses Reduced Citigroup Inc., the U.S. bank that got $45 billion of government funds, will raise base salaries by as much as 50 percent to help compensate for a reduction in annual bonuses, a person familiar with the plan said.
Swiss Franc Drops on Speculation Central Bank Sold Currency to Curb Gain The Swiss franc dropped the most against the euro and the dollar in more than three months on speculation bank officials sold the currency to curb gains that are shackling the economy.
NYSE Loses Trades at the Fastest Pace in a Year; Nasdaq Isn't the Winner NYSE Euronext’s control of U.S. stock trading is slipping away.
Cuomo's Money Manager Received Funds Linked to State Pension Fund Scandal EnTrust Capital Inc., a hedge fund firm that’s handled New York Attorney General Andrew Cuomo’s personal and campaign money, received state pension funds to invest from a company he has identified as paying possible illegal kickbacks.
Nokia's Failure to Beat IPhone Applications Puts 40% Market Share at Risk Like most Finns, Perttu Iso-Markku always bought mobile phones made by his country’s biggest company, Nokia Oyj.
source: Bloomberg
