MTN's Shareholders Say They Want More From $24 Billion Accord With Bharti MTN Group Ltd. shareholders said they want more for their stakes in Africa’s biggest wireless company after it reached a $24 billion share-purchase accord with Bharti Airtel Ltd., the first step in their planned merger.
Monsoon Stays Above Normal in India for Second Week, Aiding Crop Prospects India’s monsoon rainfall, the main source of irrigation for the nation’s 235 million farmers, was above average for a second week, improving prospects for bigger crops of winter-sown wheat and oilseeds.
ArcelorMittal, Posco May Start Building $32 Billion India Plants Next Year ArcelorMittal, the world’s biggest steelmaker, and South Korea’s Posco may start building $32 billion of factories in India next year as domestic demand defies the global recession, India’s Steel Minister Virbhadra Singh said.
Bharti Said to Pay Banks 320 Percentage Points Over Libor for MTN Loan Bharti Airtel Ltd. may pay lenders as much as 3.2 percentage points more than the London interbank offered rate as it seeks to borrow $5 billion to buy a stake in MTN Group Ltd., said three people familiar with the matter.
Sensitive Index Advances for a Fifth Day; Software Exporters Lead Gains India’s benchmark stock index gained for a fifth day, led by software exporters after Nomura Holdings Inc. raised its rating on the industry. Commodities companies advanced on expectations demand for steel may rise.
India's Export Decline Eases as Demand Improves, Commerce Secretary Says India’s exports declined the least in eight months in August as overseas sales of coal, rice and tobacco picked up, Commerce Secretary Rahul Khullar said.
Jet Airways Cancels Flights for Third Day Amid Labor Dispute With Pilots Jet Airways (India) Ltd., the country’s largest carrier by market value, canceled flights for a third consecutive day as an ongoing labor dispute with the airline’s pilots stranded travelers.
Sugar Production to Miss Forecast as Rains `Play Truant,' India Group Says India, the world’s biggest sugar consumer, may produce less than forecast last month after inadequate rainfall in the main growing regions hurt cane crop, said a group that accounts for half the nation’s output.
Wind Energy Generation Capacity May Exceed India's Estimate by Fivefold India can build wind power plants that may be able to generate almost five times more than the government’s estimate by 2030, according to a study by the Global World Energy Council.
GM Board Backs Magna as Opel Buyer After Resolving Disputes on Technology General Motors Co. agreed to sell its Opel unit to Magna International Inc., accepting the German government’s preference over a financial investor that the U.S. car maker had favored.
Jobless Claims in U.S. Fell to 550,000 Last Week, Lowest Level Since July The number of Americans filing first-time claims for jobless benefits dropped last week to the lowest level since July, a sign the labor market is deteriorating at a slower pace.
Poverty Rate Rose in U.S. as Median Household Income Fell, Census Reports Household incomes decreased and more Americans were living in poverty in 2008, the first full year of the recession, according to a government report today.
U.S. Stocks Fluctuate as Monsanto's Outlook Offsets Drop in Jobless Claims U.S. stocks fluctuated after four days of gains as a disappointing forecast at Monsanto Co. and concern equities have grown too expensive overshadowed a decrease in jobless claims to the lowest level since July.
Brevan Howard Adds Morgan Stanley, Merrill Executives as Pay Lures Traders Brevan Howard Asset Management LLP, Europe’s largest hedge-fund manager, added three partners from Wall Street firms including Morgan Stanley and Merrill Lynch & Co. as pay and trading constraints drive traders to hedge funds.
UAL Leads Airline Higher After JPMorgan Analyst Sees Rise in Travel Demand United Airlines parent UAL Corp. and US Airways Group Inc. led gains by U.S. carriers after a JPMorgan Chase & Co. analyst said demand is “not as bad as feared” and bankruptcies aren’t likely.
Bank of Canada Keeps Benchmark Rate at 0.25%, Says Dollar Risk to Growth The Bank of Canada kept its key interest rate at a record low and said persistent strength in the country’s dollar is threatening signs of faster-than- expected growth in the second half of the year.
source: Bloomberg
