Wholesale Prices Rise for 2nd Week, Posing Dilemma for India Policy Makers India’s wholesale prices rose for a second week, after 13 previous declines, posing a challenge to policy makers who want to boost growth without fanning inflation.
Sensex Index Advances, Erasing Earlier Losses; Shares in HDFC Bank Climb India’s benchmark stock index rose, reversing earlier losses, led by banks on a report that the finance minister signaled he would keep the cost of borrowing at a record low.
Reliance May Stop Gas Supplies to Anil Ambani's Company on Payment Dispute Reliance Industries Ltd., India’s most valuable company, issued a notice to suspend gas supplies to Reliance Infrastructure Ltd for defaulting on payments.
IVRCL Profit Growth May Reach 23% on Increased State Spending, CFO Says IVRCL Infra and Projects Ltd., an Indian maker of canals and power transmission lines, expects annual profit to increase as much as 23 percent as it benefits from government spending on infrastructure.
Zero-Tax Sugar Imports Extended, Rice Growers to Receive Bonus, Pawar Says India, the world’s biggest sugar consumer, will extend duty-free imports of the refined variety beyond the November deadline as demand outpaces supplies for a second year, Farm Minister Sharad Pawar said.
General Motors, India's Reva Tie Up to Develop Battery-Powered Small Cars General Motors Co., the largest U.S. automaker, and Reva Electric Car Co. plan to build a battery-powered small car to sell in India as rising pollution concerns stir interest in alternative-energy vehicles.
Rupee Rises as Foreigners Take Stock Holdings to Most Since December 2007 India’s rupee approached its strongest level in more than six weeks as foreigners stepped up purchases of the nation’s stocks, taking total holdings to the highest since December 2007.
HSBC, Merrill Buy Stakes in Jaiprakash as Citigroup Gets Shares in Suzlon HSBC Global Emerging Markets Equity Fund and Merrill Lynch Capital Markets Espana SA bought stakes in Jaiprakash Associates Ltd., a builder of dams and roads.
Indian Corporate Profit Gains to Slow on `Muted' Global Growth, Kotak Says India’s corporate profits may fall short of analysts’ estimates in the four years ended March 2012 because of the “muted” global economic growth and excess supply of commodities, the country’s top-ranked analyst said.
India May Allow Mutual Funds to Trade on Stock Exchanges, Standard Reports India’s stock market regulator may allow investors to trade mutual fund units through stock exchanges, Business Standard reported, without saying where it got the information.
U.S. Existing Home Sales Unexpectedly Fell in August to 5.1 Million Rate Sales of existing U.S. homes unexpectedly fell last month for the first time since March, signaling the housing recovery will be slow to gain speed.
Stocks in U.S. Retreat as Home Sales Decrease; Alcoa, Caterpillar Decline U.S. stocks fell for a second day as sales of existing homes unexpectedly slumped and the Federal Reserve said it will cut the size of two programs meant to bolster credit markets. Oil fell to a one-month low, while Treasuries rose.
Fed, Treasury Scale Back Emergency Lending Programs as Liquidity Returns The Federal Reserve and U.S. Treasury said they’re scaling back emergency programs aimed at combating the financial crisis, reducing support for firms that now have an easier time getting funding.
CDO Trading Returns to Wall Street as Babson, GoldenTree Hunt for Assets Babson Capital Management LLC and GoldenTree Asset Management LP are among investors bargain- hunting in the $650 billion market for collateralized debt obligations linked to corporate debt as credit markets open.
Lehman Brothers Owes $4.3 Billion for London Headquarters at Canary Wharf Lehman Brothers Holdings Inc., the securities firm that filed the biggest bankruptcy in U.S. history, owes its London landlord $4.3 billion in rent and charges, according to a claim filed by Canary Wharf Group Plc.
Moody's, S&P, Fitch Face Hearings on Role of Securities Ratings in Crisis Moody’s Investors Service, Standard & Poor’s and Fitch Ratings face scrutiny today by insurance regulators examining the role of the firms in evaluating fixed- income securities.
Fired Deutsche Bank Employee Says His Boss Knew About Bohndorf Inquiries Deutsche Bank AG’s former head of investor relations, who was fired for spying on a dissident shareholder, said his immediate superior “knew from the beginning” about the operation.
source: Bloomberg
