Ambani Brothers' Natural Gas Fight Prompts India's Government to Intervene Indian officials said a legal battle between the billionaire Ambani brothers over the supply of natural gas involves “national property” and vowed to ensure the resource is used in accordance with government policy.
Sensex Falls on Concern Below Average India Monsoon May Reduce Farm Output India’s benchmark stock index fell the most in more than a week after the government said it’s “worried” the below average monsoon rainfall may hurt farm output, which accounts for one-fifth of the economy.
India's `Unprecedented' Deficit-Cut Plan Is Feasible, Policy Adviser Says India’s plan to cut the budget deficit next year by an “unprecedented” 1.3 percent of gross domestic product is possible, a senior policy adviser said, allaying concerns of rising government debt.
Tata Steel Raises $500 Million Selling Shares Overseas to Fund Expansion Tata Steel Ltd., India’s biggest steelmaker, raised $500 million in a sale of global depositary receipts to fund domestic expansion and mining ventures overseas.
RDB Industries Says in Talks to Sell Stake to Global Cigarette Companies RDB Industries Ltd., an Indian real estate and tobacco company, said it’s in talks to sell shares to global cigarette companies.
India's Coffee Output May Miss Target as Excess Kerala Rains Damage Plants India, the third-biggest coffee grower in Asia, may miss a forecast to harvest a record crop next year after excess rains damaged plants in some regions, an exporters’ group said.
India State-Run Banks' Bad Loans Rose 9.9% in Year to March, Minister Says India’s state-run banks reported a 9.9 percent rise in bad loans for the year ended March 31.
Bernanke Sees `Tentative Signs of Stabilization,' Says Rates Will Stay Low Federal Reserve Chairman Ben S. Bernanke said while the economy is showing “tentative signs of stabilization,” the central bank intends to maintain a “highly accommodative” monetary policy for “an extended period.”
CIT Expects $1.5 Billion Loss, May File for Bankruptcy If Debt Swap Fails CIT Group Inc., the 101-year-old commercial lender seeking to avoid collapse, said it expects to report a loss of more than $1.5 billion for the second quarter and may need to file for bankruptcy if it’s unable to tender for notes maturing next month.
U.S. Stocks Advance After Caterpillar Earnings Exceed Analysts' Estimates U.S. stocks rose, sending an index of global equities to an eight-month high, as Caterpillar Inc.’s earnings tripled analyst estimates and Federal Reserve Chairman Ben S. Bernanke said there are signs the economy is stabilizing.
Caterpillar's Profit Beats Estimates on Cost Cuts, Tax Rate; Shares Surge Caterpillar Inc. posted second- quarter profit that exceeded analysts’ highest estimate, aided by job cuts and a lower tax rate. The world’s largest maker of construction equipment raised its full-year forecast, saying stimulus programs are starting to support global demand.
Hedge-Fund Assets Increase for First Time in a Year as Withdrawals Lessen Hedge-fund assets grew for the first time in a year, to $1.43 trillion, as investment performance improved and customer withdrawals decreased in the second quarter, according to data compiled by Hedge Fund Research Inc.
Freddie Mac Names Putnam's Haldeman Chief Executive of Mortgage Financer Freddie Mac, the mortgage-finance company seized by U.S. regulators last year, named Charles E. Haldeman Jr. as chief executive officer.
Coca-Cola Sales Miss Estimates as Stronger Dollar Reduces Non-U.S. Income Coca-Cola Co., the world’s largest soft-drink maker, reported second-quarter sales that trailed analysts’ estimates after the stronger dollar reduced non-U.S. income.
source: Bloomberg
