India's Economy Expanded 6.1% Last Quarter, First Acceleration Since 2007 India’s economic growth accelerated for the first time since 2007, indicating the global recession’s impact on Asia’s third-largest economy is waning.
Singh's 100-Day Stock Rally Best Since 1991 as Sensex Set to Extend Gains Indian stocks rose more in the first 100 days of Prime Minister Manmohan Singh’s leadership than under any new government since 1991. Investors predict more gains as he opens up the world’s second-fastest growing economy.
Tata Motors Turns to First-Quarter Loss as Jaguar Land Rover Sales Plunge Tata Motors Ltd., the Indian truckmaker that owns Jaguar Land Rover, posted a consolidated first-quarter loss after sales at the luxury unit plunged amid the global recession.
Benchmark Sensex Index Declines; Larsen & Toubro Drops on Growth Concerns India’s stocks fell, ending a seven- day 7.5 percent rally, after the rupee fell and bonds dropped on renewed concerns the weak monsoon rainfall may derail economic growth. Metals producers sank after commodities’ prices declined.
India Bond Futures Get `Healthy' Reception in Second Try on Inflation Risk India’s second attempt in six years to start a bond futures market got a “healthy” reception as investors sought to protect debt holdings from looming inflation, Standard Chartered Plc and HSBC Holdings Plc said.
Citigroup Seeks `New Blood' for Asian Commodity Team as Oil, Metals Rally Citigroup Inc. plans to expand its commodity team in Asia at a “double-digit” pace in a bid to capitalize on rising demand for raw materials as the global economic recovery boosts metals and energy prices.
Rupee Completes Biggest Monthly Slide Since February as Stocks Deter Funds India’s rupee completed its worst month since February as Asian equity losses fueled concern global funds will pull money out of the region.
Vale, Tata Studying Coal-Mining Prospects in Mozambique, Governor Says Vale SA, the world’s biggest iron- ore producer, and Tata Steel Ltd., India’s largest steelmaker, are involved in coal-mining viability studies in northern Mozambique, a government official said.
Disney to Acquire Marvel for $4 Billion, Gaining Spider-Man, X-Men Series Walt Disney Co. said it agreed to buy Marvel Entertainment Inc. for about $4 billion in a stock and cash transaction, gaining comic-book characters including Iron Man, Spider-Man and Captain America.
Stocks Drop Worldwide, Led by China on Earnings; Yen Gains on DPJ Victory Stocks retreated from Shanghai to New York on speculation the six-month rally has outpaced prospects for earnings growth. The yen strengthened after yesterday’s landslide election victory by the Democratic Party of Japan.
Baker Hughes Buys BJ Services for $5.5 Billion, Adds to Oilfield Business Baker Hughes Inc., the world’s third-largest oilfield-services provider, agreed to buy BJ Services Co. for $5.5 billion to expand its unconventional natural-gas, deepwater and pressure-pumping businesses.
Dudley Says Fed Can Avoid More Rapid Inflation, Sees No Need to Cut Buying New York Federal Reserve Bank President William Dudley said the Fed has the tools to prevent inflation from accelerating and doesn’t need to begin trimming its balance sheet.
Qatar Holding Said to Be Seeking to Double Its Stake in Songbird Estates Qatar Holding LLC, a unit of the Persian Gulf country’s sovereign wealth fund, plans to increase its stake in Songbird Estates Plc to almost 30 percent by buying new shares issued by Canary Wharf’s biggest landlord, two people familiar with the transaction said.
Shipping Rates May Drop 50% as China Cuts Coal Imports Amid Fleet Overrun Just as global trade starts to recover, the shipping market is crashing for the second time in a year as China reduces raw-material imports and record numbers of new vessels set sail.
source: Bloomberg
