Larsen & Toubro May Enter Power Generation Business to Tap Rising Demand Larsen & Toubro Ltd., India’s
biggest engineering company, is considering starting a power-
generation business as the government seeks to ease energy
shortages in the world’s second fastest-growing major economy.
Sensitive Index Rises; Drugmakers, Housing Development Finance Lead Gains Indian stocks rose, led by
drugmakers as their price estimates were raised at Goldman,
Sachs & Co. Lenders climbed after Housing Development Finance
Corp. reported a jump in earnings.
India to Extend Economic Stimulus Till End of Fiscal Year, Rangarajan Says India will maintain its economic
stimulus through this fiscal year and the central bank is
unlikely to change its “accommodative” monetary policy now,
said C. Rangarajan, chairman of the Prime Minister’s Economic
Advisory Council.
PTC India Surges by Record in Mumbai on Possible Increase in Trading Fees PTC India Ltd., the state-run
electricity trader, surged by a record after a regulator
proposed higher fees for electricity transactions.
Areva, India's Nuclear Power May Sign Atomic Reactor Contract Early 2010 Areva SA, the world’s biggest maker
of atomic reactors, said an agreement with Nuclear Power Corp.
of India to build a plant in the South Asian nation may be
signed early next year before approvals are received.
India's Rupee Rises to One-Year High as Asia's Economic Outlook Improves India’s rupee climbed to a one-year
high as gains in Asian stocks and a report showing China’s
exports beat analysts’ estimates added to optimism the region’s
economic recovery is gathering pace.
Dollar Drops to 14-Month Low as JPMorgan Profit Spurs Higher-Yield Demand The dollar fell to a 14-month low
against the euro as JPMorgan Chase & Co.’s earnings beat
analysts’ estimates, buoying global stocks and encouraging
investors to buy riskier assets.
Cairn India Completes $1.6 Billion Financing for Oil Projects in Rajasthan Cairn India Ltd., a unit of U.K.-
listed Cairn Energy Plc, completed financing of $1.6 billion for
its Rajasthan oil field project.
Banco Products Gains Most in at Least 18 Years as Quarterly Profit Doubles Banco Products (India) Ltd., a maker
of automotive products, surged to its highest level in at least
18 years in Mumbai trading after saying quarterly profit doubled.
India Doesn't Need to Import Grain Due to Adequate Reserves, Minister Says India, the second-biggest producer
of rice and wheat, does not need to import grains because its
reserves are adequate to fill production gaps after drought and
floods damaged summer-sown crops, a minister said.
JPMorgan Profit Rises More Than Estimated as Fixed-Income Revenue Surges JPMorgan Chase & Co. posted its
highest profit since the subprime mortgage market collapsed in
2007, relying on a surge in investment-banking revenue to
weather higher losses on consumer loans.
Stocks in U.S. Extend Global Rally on JPMorgan Earnings; Crude Oil Climbs U.S. stocks extended a global rally,
sending benchmark indexes to a one-year high, on better-than-
estimated earnings at JPMorgan Chase & Co. and Intel Corp. Oil
climbed, while the Dollar Index slid to the lowest level since
August 2008 and Treasuries fell.
Retail Sales in U.S. Drop Less Than Forecast in Sign of Emerging Recovery Sales at U.S. retailers fell less
than anticipated in September, a sign households will play a
greater role in the emerging economic recovery.
Geithner Aides Reaped Millions a Year From Goldman, Citigroup, Blackstone Some of Treasury Secretary Timothy
Geithner’s closest aides, none of whom faced Senate
confirmation, earned millions of dollars a year working for
Goldman Sachs Group Inc., Citigroup Inc. and other Wall Street
firms, according to financial disclosure forms.
Global Economic Confidence Gains for Third Month as Production Increases Confidence in the world economy rose
for a third straight month in October as gains in manufacturing
and equities added to signs of recovery, a Bloomberg survey of
users on six continents showed.
Frank's Derivatives Plan Wouldn't Give SEC Power to Ban `Abusive Swaps' Representative Barney Frank said his
proposal to regulate the $592 trillion over-the-counter
derivatives market won’t give regulators authority to ban
“abusive swaps.”
Citicorp, Wells Fargo Loans Were Fraudulent Transfers, Tousa Judge Rules Citigroup Inc. and other lenders
made fraudulent transfers when they gave Tousa Inc. secured
loans six months before its bankruptcy filing, a judge said in a
decision that may cost the banks more than $688 million.
source: Bloomberg
