Mukherjee Says India Will Take `Corrective' Action on Economic Recovery India will take “corrective” steps
and pull back fiscal stimulus once economic recovery takes hold,
Finance Minister Pranab Mukherjee said, stressing the need to
cut the budget deficit.
Barclays, Bank of America, JPMorgan Vie to Manage Indian Share Offerings Bank of America Merrill Lynch,
Barclays Plc and JPMorgan Chase & Co. are competing to sell
shares for state-run companies in India as the government plans
the biggest sell-off in at least five years.
Nissan, Renault to Delay Ultra-Low Cost Car to 2012, Carlos Ghosn Says Renault SA, France’s second-largest
carmaker, and affiliate Nissan Motor Co. will introduce their
ultra-low cost car by 2012, a year later than planned, due to
delays in fixing details of the product with its Indian partner.
Moody's Won't Raise India's Credit Ratings Unless Government Reduces Debt India’s sovereign rating won’t be
raised unless the government works toward reducing its budget
deficit and debt, according to Moody’s Investors Service.
Sugar Factories in Uttar Pradesh to Start Crushing Cane, Improve Supplies Sugar mills in India’s biggest cane-
growing state may begin crushing this week after the Agriculture
Minister asked them to pay farmers a “proper price,” seeking
to end a tariff dispute that threatened to delay supplies.
Sensex Falls as Mukherjee Raises Demand Concerns; Maruti Suzuki Leads Drop India’s stocks fell for the first
time in five days after Finance Minister Pranab Mukherjee raised
concern that domestic demand is still needed to support the
economy when he said fiscal stimulus measures will be withdrawn.
Billionaire Ambani Brothers Deny Report of Gas Supply Dispute Settlement India’s billionaire Ambani brothers
said they haven’t reached an out-of-court settlement of their
dispute over natural gas supplies from the country’s biggest
field, denying a report of a compromise.
Rupee Drops on Concern Investors Will Trim Stock Holdings as Sensex Falls India’s rupee fell as the benchmark
stock index snapped a four-day gain, adding to concern overseas
investors will slow purchases of the nation’s assets.
Reliance Industries Discovers Oil Onshore in Gujarat's Cambay Basin Block Reliance Industries Ltd., India’s
most valuable company, found oil in a block in the western state
of Gujarat and is assessing the commercial viability of the
discovery, which may help increase domestic fuel supplies.
NMDC Shares Surge 20% in Mumbai on Indian Government's Plan to Sell Stake NMDC Ltd., India’s largest iron-ore
producer, climbed the most in six months in Mumbai trading after
the steel ministry said it will initiate next month a plan to
sell a stake in the company.
HSBC Profit Rises as Bad Loans Decline; Barclays Posts Drop on Impairments HSBC Holdings Plc, Europe’s biggest
bank, said third-quarter pretax profit rose as bad loans
declined, while Barclays Plc posted a 54 percent drop in
earnings.
Stocks in U.S. Climb as Priceline, Beazer Homes Rally on Earnings Reports U.S. stocks rose for a seventh day,
the longest streak for the Standard & Poor’s 500 Index in three
years, as improving profit at Priceline.com Inc. and Beazer
Homes USA Inc. spurred gains in technology and consumer shares.
Clearwire to Raise $1.56 Billion Capital From Group Led by Sprint, Comcast Clearwire Corp., building out a
nationwide high-speed network, will get $1.56 billion from a
group led by wireless carrier Sprint Nextel Corp., easing a cash
shortfall that would have held up expansion plans.
Fed, FDIC Bank Oversight Role May Be Removed Under Senator Dodd's Proposal Senator Christopher Dodd will
propose creating a single U.S. regulator that would strip the
Federal Reserve and Federal Deposit Insurance Corp. of bank-
supervision authority, said a person familiar with the matter.
Hedge Fund Assets Will Top $2 Trillion by End of 2010, Deutsche Bank Says Hedge fund assets may top the
previous $2 trillion high by the end of next year as double-digit
average returns lure investors, said Barry Bausano, Deutsche Bank
AG’s global co-head of prime finance.
Buiter Says Don't Buy Treasuries as Fed May Raise Interest Rate Next Year Investors should shun U.S.
government bonds because the Federal Reserve and other central
banks may increase interest rates as soon as next year, former
Bank of England policy maker Willem Buiter said.
source: Bloomberg
