Reliance's Profit Misses Estimates as Recession Curbs Demand For Fuels Reliance Industries Ltd., India’s most valuable company, said profit declined for the third straight quarter, missing estimates, as the global recession curbed fuel demand and refining margins narrowed.
Sensex Climbs to Six-Week High on India Earnings Outlook, Sterlite Rises India’s stocks rose, driving the benchmark to its highest in more than a month. Tata Motors Ltd. paced gains among automakers after Maruti Suzuki India Ltd. reported earnings that beat analysts’ forecasts yesterday.
Ranbaxy Has First Net Income in Four Quarters on Foreign Currency Gains Ranbaxy Laboratories Ltd., India’s biggest drugmaker, reported its first profit in four quarters after the rupee strengthened against the dollar, allowing it to reverse some losses.
India to Halt Rice, Wheat Sales to Governments as Poor Rain May Cut Output India, the world’s second-biggest grower rice and wheat, will halt exports of the cereals under government-to-government accords to meet possible shortages caused by deficient monsoon rains.
Jet Airways Has First-Quarter Loss as Slowing Economy Damps Travel Demand Jet Airways (India) Ltd., the nation’s largest carrier by market value, posted a first-quarter loss as slowing economic growth damped travel demand.
Indian Court Rules Daiichi Sankyo Can Proceed With Zenotech Tender Offer Daiichi Sankyo Co., Japan’s third- largest drugmaker, can proceed with an offer to buy an additional 20 percent of Zenotech Laboratories Ltd. from shareholders, India’s highest court ruled.
National Aluminium Raises Prices 5 Percent After Global Rates Increase National Aluminium Co., India’s second-largest producer of the metal, raised the price 5 percent after aluminum gained on the London Metal Exchange.
Rupee Set for Best Week in Two Months as Recovery, Earnings Fuel Inflows India’s rupee was poised for its biggest weekly gain in two months as foreign funds stepped up purchases of local shares on optimism a rebound in the global economy will boost companies’ earnings.
Gold Trades Little Changed After Climbing to Highest in Almost Six Weeks Gold, little changed in Asian trade, may decline on speculation that a recent rise to the highest in almost six weeks was overdone.
China May Overtake India in Gold Consumption in 2009, Gold Council Says China may overtake India to become the world’s top gold consumer this year, the World Gold Council said, as the nation became the first of the major economies to rebound from the global recession.
JPMorgan Said to Increase Some Investment Banker Salaries Starting in 2010 JPMorgan Chase & Co.’s investment bankers will begin getting more of their pay in salary next year and less in bonuses as the bank shifts the weighting to remain competitive with rivals, a person familiar with the firm said.
Consumer Sentiment Gauge in U.S. Posts First Drop Since February on Jobs Confidence among U.S. consumers fell in July for the first time in five months as mounting unemployment and stagnant wages shook households.
Stocks in U.S. Trim Losses as Oil, Commodity Prices Lift Their Producers U.S. stocks pared losses as the price of oil rose and commodities rebounded, lifting shares of their producers.
CIT Reworks Its Tender Bid for Notes to Punish Late Exchange by Investors CIT Group Inc., the 101-year-old commercial lender seeking to avoid collapse, reworked its tender offer for $1 billion of notes maturing next month to encourage investors to deliver the debt to the company sooner.
Blankfein Deflects Public Backlash by Paying Geithner's Loans Back in Full Goldman Sachs Group Inc. may have gone from public enemy to model citizen in eight days.
Lubert-Adler Said to Bid for Corus as Fate of Chicago Bank Rests With FDIC Lubert-Adler Partners LP, the Philadelphia-based private-equity firm, may participate in a bid for all or part of Corus Bankshares Inc., the Chicago lender crippled by loans to build condominiums, people familiar with the matter said.
Verizon Wireless Chief McAdam Foresees Slump Lasting Through Third Quarter Verizon Wireless Chief Executive Officer Lowell McAdam said mobile-phone business customers probably won’t recover from the economic slump until at least the fourth quarter.
source: Bloomberg
