Tata Steel First-Quarter Profit Falls More Than Forecast on Lower Prices Tata Steel Ltd., India’s biggest producer, reported a worse-than-expected 47 percent drop in first-quarter profit on lower prices. The shares declined.
India Central Bank May `Reverse' Rate Cuts as Food, Energy Stoke Inflation India’s central bank may start reversing its interest-rate cuts in early 2010 as food and energy prices fan inflation, after it kept borrowing costs unchanged yesterday to bolster economic growth.
Benchmark Sensitive Index Declines for Third Day, Led by Tata Motors, DLF Indian stocks fell for a third day, led by Tata Motors Ltd. and DLF Ltd. after investors judged recent gains excessive.
Hero Honda First-Quarter Profit Beats Estimates on India Motorcycle Sales Hero Honda Motors Ltd., India’s biggest motorcycle maker, posted a better-than-estimated 83 percent jump in first-quarter profit after sales climbed.
Rupee Weakens for Second Day as Ambanis' Dispute May Discourage Investors India’s rupee weakened for a second day as declines in the benchmark share index added to concern a corporate dispute between billionaire brothers Anil Ambani and Mukesh Ambani will discourage investors.
Reliance Natural Sends Notices, Seeks Early Final Hearings in Gas Dispute Anil Ambani, chairman of Reliance Natural Resources Ltd., said he will ask India’s Supreme Court to advance final hearings in a natural gas supply dispute with brother Mukesh Ambani’s Reliance Industries Ltd.
Jaguar Land Rover Needs `Major' Cost Reduction as Sales Decline, Tata Says Jaguar Land Rover, the luxury unit Indian truckmaker Tata Motors Ltd. bought from Ford Motor Co. last year, needs “major cost reduction” as the global recession hammers demand for its vehicles.
Sterlite Industries First-Quarter Net Income Declines on Lower Zinc Prices Sterlite Industries (India) Ltd., the nation’s largest copper and zinc producer, reported a 41 percent decline in first-quarter profit after prices fell.
Sensex Stock Index Target Raised by Credit Suisse on Availability of Funds India’s Bombay Stock Exchange Sensitive Index may rise to 17,000 by the middle of 2010, helped by the availability of capital, Credit Suisse Group AG said.
U.S. Durable Goods Orders, Excluding Cars and Planes, Unexpectedly Advance Orders for U.S. durable goods, excluding automobiles and aircraft, unexpectedly gained in June, signaling that manufacturing may expand in the second half of the year.
Google Challenged by Microsoft Accord With Yahoo in Internet Search Battle Microsoft Corp. and Yahoo! Inc. agreed to collaborate on Internet search and online advertising, creating a united front to challenge Google Inc.
China Sparks Drop in Emerging-Market Stocks; Oil, Commodities, Ruble Fall Chinese stocks plunged the most in eight months, dragging emerging markets lower, on speculation the government will curb investment to prevent a bubble. Oil led a drop in commodities.
Bernanke May Have to Sacrifice Lending Powers or Risk Losing Independence The financial-overhaul plan before Congress leaves the Federal Reserve in the business of lending to everyone from General Electric Co. to investors in student loans. That makes it harder for Chairman Ben S. Bernanke to keep Congress from second-guessing what he does.
Merck Is Said to Sell Its Stake in Merial Animal-Health Venture to Sanofi Sanofi-Aventis SA agreed to buy Merck & Co.’s stake in their Merial animal-health venture to help the French drugmaker weather generic competition to its best-selling drugs, said two people familiar with the situation.
Temasek Loses $28 Billion in Asset Value, May Allow First Public Investors Temasek Holdings Pte, reeling from the aborted appointment of Charles “Chip” Goodyear, said the value of its assets slumped by more than S$40 billion ($27.7 billion) and that Singapore’s sovereign fund may allow public investment for the first time.
Copper Peaking as Inventories Signal Market Top With China Demand Slowing Copper’s 80 percent rally this year may soon end on signs that China has stockpiled more than it can use in new homes, cars and appliances.
source: Bloomberg
