India's Wholesale Price Index Falls 1.55%, Fourth Consecutive Weekly Drop India’s wholesale prices fell for a fourth straight week, ahead of a government increase in fuel costs that may rekindle inflation pressures in coming months.
Leaders of G-8, G-5 Seek to Avoid `Competitive Devaluations' of Currencies Leaders of the world’s biggest developed and emerging nations agreed to avoid devaluing their currencies to promote their exports at the expense of others, according to a draft statement.
Satyam Computer Scam an `Aberration,' Minister Says After Fraud Inquiry Satyam Computer Services Ltd., the company at the center of India’s biggest fraud probe, is an “aberration” and no other incidents have been found, Salman Khurshid, minister for corporate affairs, told lawmakers today.
Rupee Rebounds on Speculation Exporters Bought After Drop to Two-Month Low India’s rupee rose, reversing an earlier slide, on speculation exporters bought the currency following its slide to an almost two-month low.
Indian State Oil Companies May Spend $11.7 Billion on Production, Refining Indian state-run oil and gas companies may spend 574.8 billion rupees ($11.7 billion) this year to increase production capacity and refining, the government said.
Indian Stocks Fluctuate as IMF Raises Growth Forecast; Sterlite Advances Indian stocks closed little changed after the International Monetary Fund increased the country’s growth forecast while the Group of Eight leaders said the global economic recovery remains fragile.
Government Bonds Gain on Speculation India Economic Slowdown Will Continue India’s five-year bonds gained for a second day as doubts over a global economic recovery dragged equities lower, bolstering demand for the relative safety of government debt.
Gold, Little Changed, May Gain as Rebound in Commodities Increases Demand Gold, little changed in Asia, may advance from a two-month low as commodities rebound and the dollar weakens, boosting demand for the metal as a hedge against rising consumer prices.
Goldman Sachs Trading Revenue May Beat 2007 Record, Moszkowski Note Says Goldman Sachs Group Inc. is on track to beat its 2007 trading-revenue record, enabling it to boost compensation by an estimated 64 percent from last year, according to Bank of America Corp. analyst Guy Moszkowski.
Citigroup Names Gerspach CFO; Kelly Is Shifted to Role Overseeing Strategy Citigroup Inc. changed its chief financial officer for the second time in four months, elevating Controller John Gerspach to the post and shifting Edward “Ned” Kelly to a role heading strategy.
Most U.S. Stocks Rise as Bank Rally Tempers Concern Recovery Is Faltering Most U.S. stocks gained as an analyst upgrade of Goldman Sachs Group Inc. spurred a rally in financial shares, tempering a drop in drugmakers and concern the economy will need more government stimulus to end the recession.
NetApp May Be Takeover Target After Losing Data Domain Bidding War to EMC NetApp Inc., the maker of storage computers for companies such as Oracle Corp., may attract its own suitors after losing a bidding war for Data Domain Inc., analysts said.
GM Will Leave Bankruptcy After Sale With $48 Billion in Debt, Judge Says General Motors Corp., which is preparing to sell its best assets to a streamlined new entity, will carry with it liabilities of $48.4 billion, a bankruptcy judge said.
News Corp. Won't Pursue Acquisitions Until Economy Recovers, Murdoch Says News Corp. Chairman and Chief Executive Officer Rupert Murdoch said the media company will wait until the economy recovers before considering acquisitions, preserving its more than $6 billion in cash in the recession.
source: Bloomberg
