Stocks in India Climb, Extending Second Week of Gains, on Earnings Outlook India’s benchmark stock index rose, extending its second weekly gain. Dr. Reddy’s Laboratories Ltd. climbed to a record after the Economic Times reported GlaxoSmithKline Plc may buy a stake.
3i Scouts for Third Port Investment in India as Traffic Exceeds Capacity 3i Group Plc, the London-based private-equity investor that has a $1.2 billion infrastructure fund for India, is looking to make its third investment in a port as the nation’s freight traffic exceeds capacity.
Rupee Swaps Signal Split Within G-20 Over Rates as Threadneedle Buys Real Investors are buying Indian rupees, South Korean won and Brazilian reais, betting developing nations will raise interest rates even after the Group of 20 said it’s too early to end central bank support for the global economy.
India Said to Be Planning to Cut Subsidies for Potash, Reducing Imports India is planning to cut farmer subsidies on potash used to grow rice, soybeans and sugarcane to help reduce state spending, a government official said.
Reliance Natural Seeks Dismissal of Government Petition in Ambani Gas Row Reliance Natural Resources Ltd. asked India’s Supreme Court to dismiss a government petition that says its production-sharing contract with Reliance Industries Ltd. must prevail over private gas-sale accords.
Axis Bank Has Raised $720 Million Selling Shares to Investors, Person Says Axis Bank Ltd. raised $720 million in a share sale to institutional investors, a person with direct knowledge of the sale said.
Goldman Sachs Hires Kotak's Aman Batra for Asset Management Unit in India Goldman Sachs Group Inc., the fifth-biggest U.S. bank by assets, hired Aman Batra from Kotak Securities Ltd. as an analyst for its asset management unit in India, a person familiar with the situation said.
Gujarat to Award Contracts for $10 Billion Clinton-Backed Solar Project Contracts to build the world’s largest solar power facility in India’s Gujarat state, valued at $10 billion and backed by former U.S. President Bill Clinton, will be awarded by January, a state government official said.
Rupee Poised for Second Weekly Gain as Economic Revival Attracts Inflows India’s rupee headed for a second weekly advance on speculation the nation’s economic recovery is attracting foreign capital to the stock market.
UBS Tax Net Snares U.S. Clients of Credit Suisse, Julius Baer, LGT for IRS UBS AG’s $780 million settlement with U.S. authorities to avoid prosecution for helping Americans cheat on their taxes has opened a Pandora’s box for banks worldwide.
Stocks in U.S. Advance as Analysts Say Buy Shares of P&G, SanDisk, Chevron U.S. stocks rose, extending the market’s second straight weekly advance, as analyst upgrades of companies from Procter & Gamble Co. to SanDisk Corp. and Chevron Corp. overshadowed concern equities have grown too expensive.
Unemployment Increases in 27 U.S. States; California's Rate Reaches 12.2% Unemployment rose in 27 U.S. states in August, with California and Nevada reaching record levels of joblessness.
BlackRock's Fink Says Obama Loan Rules Threaten Mortgage Market's Recovery BlackRock Inc. Chairman Laurence Fink said Obama administration programs to help homeowners stave off foreclosure may hinder the recovery of the mortgage market while benefiting banks that own second loans on the properties.
Consumers Hanging On by `Fingertips' Post-Recession, Bank of America Says Bank of America Corp.’s Brian Moynihan, head of consumer banking at the biggest U.S. lender, said personal spending and employment may remain weak as the economy recovers.
Blackstone to Buy 50% of London's Broadgate; Stake Valued at $1.75 Billion Blackstone Group LP agreed to buy 50 percent of Broadgate, the largest office complex in London’s main financial district, from British Land Co. in a transaction that values the properties at 2.1 billion pounds ($3.4 billion).
Bair Says FDIC Is Considering Tapping Treasury to Replenish Insurance Fund The Federal Deposit Insurance Corp. is considering tapping its Treasury Department line of credit as it examines ways to replenish a reserve fund depleted by 92 bank failures this year, Chairman Sheila Bair said.
source: Bloomberg
