Steel Authority Plans New Plant in India in Ore Battle With Mittal, Tata Steel Authority of India Ltd., the
nation’s biggest state-run producer, plans to build a 10 million
metric ton steel mill in expectation of beating ArcelorMittal
for the rights to control the nation’s biggest iron ore reserves.
General Motors, Ford's Idled Plants Set to Resume as Strike in India Ends General Motors Co. and Ford Motor Co.
will receive normal supplies of auto components from an Indian
vendor starting next week after a 45-day strike at the producer
ended.
Sensex to Fall 10% in Six Months on India's Profit Outlook, Principal Says India’s stock market may fall by as
much as 10 percent within six months as company earnings fail to
meet expectations, according to Pankaj Tibrewal, manager of the
country’s best performing equity fund this year.
Government Stake Sale Plan to Help Reduce India's Debt, Borrowing Pressure India’s plan to limit stakes in
state-run companies and sell new shares of profitable unlisted
companies may help the government mobilize more revenue and
reduce its dependence on borrowings, economists said.
Caterpillar to Invest $200 Million to Meet Rising Indian Building Demand Caterpillar Inc., the world’s largest
maker of bulldozers and excavators, plans to invest $200 million
in India over five years to make construction equipment as
demand grows in the second-fastest growing major economy.
Sensex Index Rises for Third Day; MMTC Leads Gain on Government Share Sale Indian stocks rose, extending the
benchmark index’s longest string of gains in five weeks, after
the government approved a plan to sell more shares in state-
controlled companies, helping it raise funds to boost spending.
Rupee Gains for Third Day as India's Economic Outlook Fuels Risk Appetite India’s rupee rose for a third day,
the longest stretch of gains in a month, as signs the global
economy is recovering from a recession buoyed demand for the
nation’s assets.
MMTC, Indian State-Run Companies Surge on Government Plan to Sell Stakes MMTC Ltd., NMDC Ltd. and State
Trading Corp. led gains among India’s state-controlled companies
after the government approved a plan to boost public holdings in
these stocks, making more shares available to investors.
Reliance Money's Sudip Bandyopadhyay Joins Spice Finance as President Sudip Bandyopadhyay joined Spice
Finance as president from Reliance Money, according to an e-
mailed statement.
Four Key Emerging-Market Stock Funds Post First Joint Outflows Since June All four major developing-nation
equity fund groups posted outflows concurrently for the first
time since June on concern the pace of the global economic
recovery may not justify valuations, EPFR Global said.
U.S. Unemployment Rate Jumps to 10.2% as Payrolls Fall More Than Forecast The unemployment rate in the U.S.
soared to a 26-year high of 10.2 percent in October and
employers cut more jobs than forecast, underscoring why Federal
Reserve policy makers say interest rates will remain near zero.
Stocks Drop on U.S. Jobs Data as Gold Advances to Record on Dollar Concern U.S. stocks fell, pushing the
Standard & Poor’s 500 Index down for the first time in five
days, after the nation’s unemployment rate jumped to a 26-year
high of 10.2 percent in October. Oil declined, while gold
climbed to a record and Treasuries gained.
Nomura, Barclays Lure Hundreds of Bankers as Rivals Cut Jobs, Cap Bonuses Barclays Plc and Nomura Holdings
Inc., which never ranked among the top 10 merger advisers
worldwide in the past decade, are luring hundreds of bankers as
competitors cut jobs and cap bonuses under government pressure.
Ex-Jefferies Money Manager Contorinis Indicted on Insider-Trading Charges Joseph Contorinis, a former money
manager for the Jefferies Paragon Fund, was indicted by a
federal grand jury on fraud charges in what prosecutors said was
a $7.2 million dollar insider trading ring.
Ropes & Gray's Cutillo, Patent Lawyer, Accused of Fueling Insider Trading When Bain Capital LLC said it would
buy 3Com Corp. for 44 percent more than the stock price, one
unexpected beneficiary was Arthur Cutillo, an associate at the
Ropes & Gray LLP law firm advising the private-equity company,
according to the FBI.
GE Shares Gain After Analysts Boost Ratings on Shrinking of Finance Unit General Electric Co. rose the most in
seven weeks after analysts from Sanford C. Bernstein & Co. and
Oppenheimer & Co. raised their ratings and target prices for the
stock, citing diminished risks at the finance unit and steady
performance the infrastructure divisions.
Volvo Cars Gains Market Share After Surviving `the Darkness,' Odell Says Volvo Cars, the Swedish automaker
that Geely Holding Group Co. wants to buy from Ford Motor Co.,
is gaining market share as the industry shows signs of
recovering from the global recession.
source: Bloomberg
