ICICI Bank Second-Quarter Net Unexpectedly Rises on Bonds, Currency Income ICICI Bank Ltd., India’s second-
largest lender, reported an unexpected gain in second-quarter
profit as income from trading bonds and currencies climbed.
India Plans to Import 30,000 Metric Tons of Rice as Drought Reduces Output India, the world’s second-biggest
rice grower, plans to import as much as 30,000 metric tons of
the grain after a drought in almost half the nation cut output.
Vodafone Receives India's Tax Department Notice on Purchase of Hutchison India’s tax department today issued
a notice to Vodafone Group Plc on tax it may have to pay for the
$11.2 billion acquisition of Hutchison Essar Ltd.
Shell in Talks Only With Essar Over Possible German, U.K. Refinery Sales Royal Dutch Shell Plc, Europe’s
largest oil company, is in exclusive talks with Essar Oil Ltd.
over the sale of three refineries in the U.K. and Germany.
Indian Oil Says Production at Mathura Refinery Unaffected by Jaipur Fire Indian Oil Corp., the nation’s
second-largest refiner, said a fire at a terminal in Jaipur
hasn’t affected output at its refinery in Mathura, which
supplies fuels to the storage unit through pipeline.
Tata Power Forms Venture With Norway's SN Power for Hydroelectric Projects Tata Power Co. is forming a venture
with SN Power of Norway to generate hydroelectric power.
India Stocks Post Longest Losing Streak in 11 Months as Profits Disappoint India’s benchmark stock index fell
for a fifth day, the longest losing streak in 11 months, after
Reliance Industries Ltd. and Bharti Airtel Ltd. posted profits
that fell short of analysts’ forecasts.
Bharti's Profit Growth Slows For Ninth Quarter as Competition Intensifies Bharti Airtel Ltd., the Indian
operator that failed to merge with MTN Group Ltd., reported
profit growth slowed for the ninth quarter as competitors cut
call charges in the world’s second-largest wireless market.
Reliance Industries May Bank on Higher Natural Gas Output to Boost Profit Reliance Industries Ltd., India’s
most valuable company, may bank on increased production of
natural gas to cut dependence on refining and end four straight
quarters of declining profit.
Stocks in U.S. Extend Weekly Decline on Economic Reports, Concern Over CIT U.S. stocks tumbled the most since
July after declines in personal spending and consumer confidence
and the threat of a CIT Group Inc. bankruptcy raised concern
over the durability of the economic recovery. The dollar and
Treasuries gained, while commodities retreated.
VIX Jumps Most in Year as Drop in U.S. Stocks Spurs Demand for Protection The benchmark index for U.S. stock
options rose the most in a year as consumer confidence and
personal spending fell and CIT Group Inc. worked to avert
collapse.
Wilbur Ross Sees `Huge' Commercial Real Estate Crash Ahead for U.S. Assets Billionaire investor Wilbur L. Ross
Jr., said today the U.S. is in the beginning of a “huge crash
in commercial real estate.”
Frank Reverses Course, Says He'll Support Prepayment to Unwind Large Firms Barney Frank, chairman of the U.S.
House Financial Services Committee, reversed course and will
support requiring financial firms to prepay into a fund the
government will use to unwind large firms after they fail.
Madoff's Accountant Friehling Will Plead Guilty, Cooperate With Government David Friehling, the accountant for
con artist Bernard Madoff, will plead guilty on Nov. 3 for his
role in the largest U.S. Ponzi scheme, prosecutors said.
CIT Reaches Agreement With Carl Icahn to Back Lender's Restructuring Plan CIT Group Inc., the 101-year-old
commercial lender trying to avert collapse, reached an agreement
with billionaire investor Carl Icahn to support its prepackaged
bankruptcy plan.
U.S. Airlines Boost Fares as Much as $10 for Third Increase in Three Weeks Delta Air Lines Inc., AMR Corp.’s
American Airlines and other U.S. carriers raised round-trip
domestic fares by as much as $10, the industry’s third increase
in three weeks.
source: Bloomberg
