India May Need to Exit Accommodative Policy Ahead of Others, Subbarao Says India may need to exit from an accommodative monetary policy earlier than advanced economies because of country-specific features, Reserve Bank of India Governor Duvvuri Subbarao said.
Benchmark Indian Stock Index Declines, Led by Bharti on Industry Downgrade India’s benchmark stock index fell, snapping a three-day advance, led by telecom stocks after a report said the auction of high-speed mobile service licenses may be delayed and Kotak Securities Ltd. downgraded the industry.
Bharti Shares Slide Most in Four Months After Investment Rating Is Lowered Bharti Airtel Ltd., India’s biggest wireless operator, fell the most in more than four months in Mumbai trading, after the stock was downgraded by Kotak Securities Ltd. citing increased competition and slower growth.
Coal India to Buy One Mine This Fiscal Year; Seeking Facility in Australia Coal India Ltd., the nation’s monopoly producer of the fuel, said it expects to complete a mine acquisition in the year ending March 31, and has hired Royal Bank of Canada to carry out due diligence on a deposit in Australia.
Sugar Cane Crops Escape Flood Damage in India's Biggest Producing State Sugar cane crops in Maharashtra, India’s biggest producer, may have escaped “significant” damage from heavy monsoon rains in recent days, a producers’ group said today.
Stock Seers Seeing Record Net Say Bill Gross 5% May Only Be Normal in Debt Wall Street projections for the fastest U.S. profit growth in two decades are putting some of the biggest equity investors at odds with Bill Gross.
Rupee Advances Second Day as Overseas Funds Increase Local Share Purchases India’s rupee rose for a second day as overseas funds increased purchases of local assets to benefit from growth in Asia’s third-largest economy.
Zurich Financial's Insurance Sales to Developing Nations Poor to Rise 50% Zurich Financial Services AG, Switzerland’s largest insurer, said it expects to increase sales in developing nations of policies covering death, illness and natural disasters by 50 percent this year as it develops more sales channels.
Bonds in India Gain on Speculation Three-Week High Yields Will Lure Buyers India’s 10-year bonds gained for the first time in five days on speculation yields near the highest level in three weeks will attract investors.
Ahluwalia Says Priority Should be on Spurring Indian Growth as Prices Gain India should focus on spurring growth as inflation accelerates in the coming weeks, Montek Singh Ahluwalia, deputy chairman of the country’s Planning Commission, told reporters in New Delhi today.
U.S. Service Industries Expand for First Time in a Year as Recovery Widens U.S. service industries expanded in September for the first time in a year as the emerging recovery spread from housing and factories to the broader economy.
Stocks in U.S. Climb as Goldman Upgrades Banks, ISM Index Beats Estimates U.S. stocks rose, rebounding from the first two-week decline since July, as Goldman Sachs Group Inc. recommended large banks and a report showed service industries returned to growth after 11 months of contraction. The dollar fell versus the euro, crude oil slipped and Treasuries gained.
Roubini, Prechter See Stock Declines as Soros Says Banks to Hurt Recovery New York University Professor Nouriel Roubini said stock markets may drop and billionaire George Soros warned the “bankrupt” U.S. banking system will hamper its economy, highlighting doubts about the sustainability of the global recovery.
Frank Urges Using $2 Billion Repaid to TARP on Foreclosure Aid for Jobless House Financial Services Committee Chairman Barney Frank said he plans to introduce legislation next week to steer $2 billion in rescue funds repaid by U.S. banks to foreclosure relief for unemployed workers.
Chrysler Changes Two Brand Chiefs, Separates Dodge Into Car, Truck Lines Chrysler Group LLC Chief Executive Officer Sergio Marchionne, extending his imprint on the U.S. automaker, named new chiefs for two of the company’s four brands and split operations at Dodge into truck and car lines.
American Express President Kelly Resigns to Seek Top Job Outside Company American Express Co. President Alfred F. Kelly Jr. is resigning to seek a top job at another company because Chief Executive Officer Kenneth Chenault intends to remain for the “foreseeable future,” spokeswoman Joanna Lambert said.
Surging Commodities Open Interest Signals Market Peak as Traders See Slump Investors are snapping up commodities at the fastest pace in 18 months just as stockpiles of raw materials rise and shipping rates plunge, signaling that prices may be poised to fall.
source: Bloomberg
