Bharti Airtel, MTN Extend Merger Talks a Month After Failing to Reach Deal Bharti Airtel Ltd. and MTN Group Ltd. extended talks on a merger that would challenge Vodafone Group Plc’s push into India and Africa after the two phone companies failed to reach an agreement by last week’s deadline.
India's Exports Decline for Ninth Month as Recession Cuts Overseas Demand India’s exports declined for a ninth consecutive month in June as the worst global recession since the Great Depression slashed demand for the nation’s products.
Anil Ambani Wants India to Probe Brother Mukesh's Gas Field Investment Billionaire Anil Ambani, caught in a legal dispute over the supply of natural gas from India’s biggest field, wants the federal government to probe investments made by Reliance Industries Ltd. in developing the area.
India's Coffee Exports Drop 21% as Excessive Monsoon Rain Reduces Harvest Coffee exports from India, Asia’s third-biggest supplier, dropped 21 percent in the first seven months of this year after excessive rains damaged the crop in the nation’s main growing region.
Sensitive Index Advances to One-Year High as Maruti Gains on Monthly Sales Indian stocks rose, driving the benchmark index to its highest in more than a year. Maruti Suzuki India Ltd. and Mahindra & Mahindra Ltd. paced gains after saying they sold more vehicles last month.
Adani Power Raises $630 Million Selling Shares in Initial Public Offering Indian billionaire Gautam Adani’s power company raised 30.2 billion rupees ($630 million) in the nation’s biggest initial public offering in 18 months.
Suzlon Energy Declines After Reporting First-Quarter Loss on Fewer Orders Suzlon Energy Ltd., India’s biggest maker of wind turbine generators, declined in Mumbai trading after reporting a loss in the first quarter as orders slowed.
Mahindra to Make China a Hub for Tractor Exports to Lower Production Costs Mahindra & Mahindra Ltd., India’s biggest tractor maker, plans to use China as an export hub for farm equipment to lower production costs.
Rupee Climbs to Seven-Week High as Overseas Funds Increase India Purchases India’s rupee climbed to a seven-week high as foreign funds bought more local shares than they sold for a 14th straight day, the longest stretch in two years.
Larsen & Toubro Expects More Offshore Contracts From Oil & Natural Gas Larsen & Toubro Ltd., India’s biggest engineering company, said it expects to win more offshore orders from Oil & Natural Gas Ltd. on rebounding crude oil prices.
U.S. Stocks Rise as S&P Climbs Above 1,000 for First Time Since November U.S. stocks rose, sending the Standard & Poor’s 500 Index above 1,000 for the first time since November, on growing speculation the recession may be ending and an unexpected profit at Europe’s biggest bank. Oil and metals advanced, while Treasuries fell.
Barclays Rallies With HSBC as Investment Banking Buoys First-Half Earnings HSBC Holdings Plc and Barclays Plc, surged in London trading after earnings from their investment banking units doubled in the first half.
U.S. Manufacturing Shrinks at Slowest Pace in 11 Months as Recession Eases Manufacturing shrank less than forecast, and construction spending unexpectedly rose, as overseas demand and the Obama administration’s stimulus help resuscitate U.S. factories from their worst slump in 28 years.
Google's Schmidt Quits Apple's Board as Phone-Software Rivalry Intensifies Google Inc. Chief Executive Officer Eric Schmidt is resigning from Apple Inc.’s board, aiming to quell antitrust concerns about intensifying competition between the two companies.
Chrysler's July U.S. Vehicle Sales Are Said to Have Dropped Less Than 10% Chrysler Group LLC’s July U.S. auto sales declined less than 10 percent, a person familiar with the results said.
Bailout Banks Buying Treasuries Help Keep Rates Low With Growing Deposits U.S. lenders bailed out by the government are returning the favor by stepping up purchases of Treasuries, helping to temper a rise in borrowing costs.
Barclays Will Hire as Many as 1,000 People for Mergers, IPOs, Diamond Says Barclays Plc, the U.K.’s second- biggest lender, plans to hire as many as 1,000 people, including investment bankers at its Barclays Capital unit, by the end of the year to compete in mergers advice and share sales.
source: Bloomberg
