JSW Energy Plans Initial Public Offering Next Month, May Sell a 15% Stake JSW Steel Ltd., India’s third-
largest steelmaker, expects to open the initial public offering
of its energy business next month, valuing the unit at about 200
billion rupees ($4.3 billion).
India Talking With Thailand, Vietnam to Import Rice, Minister Sharma Says India, the second-most populous
nation, is in talks with Thailand and Vietnam to secure rice
supplies after a drought in half the country destroyed crops.
Indian Stocks Rise for a Third Day; Infosys, Software Exporters Advance India’s benchmark stock index rose
for a third day. Software exporters gained as retail sales
rebounded in the U.S., their largest export market.
JSW May Spend $500 Million to Buy Coal Mines in Australia, South Africa JSW Steel Ltd., India’s third-
biggest producer, may spend $500 million buying coal mines
overseas to secure supplies for its local expansion.
Indian State Orders 50 Iron Ore Mines to Halt Work on Environment Concerns India’s state of Orissa, source of
about 13 percent of the nation’s iron-ore exports, ordered 50
mines to halt for flouting environmental rules.
Ex-Satyam Directors Ask New York Court to Dismiss U.S. Investor Lawsuits Seven former directors of Satyam
Computer Services Ltd., including Harvard Business School
Professor Krishna Palepu and former dean of the Indian School of
Business M. Rammohan Rao, asked that investor lawsuits in the
U.S. be dismissed against them.
Ratan Tata Expects Jaguar Land Rover Turnaround Following `Difficult Time' Tata Motors Ltd., the Indian owner
of Jaguar Land Rover, is hopeful of turning around the
unprofitable luxury unit as it cuts costs to battle a slump in
sales during the global recession.
Reliance May Become Debt-Free in Two Years, Plans Overseas Acquisitions Reliance Industries Ltd., India’s
most valuable company, said it may become debt-free in less than
two years and plans to acquire assets overseas to boost its
revenue from the energy business.
Fed Will Cut Maturity of Discount Window Loans to 28 Days as Banks Recover The Federal Reserve will reduce the
maximum maturity on discount window loans to 28 days from 90
days in January, the Board of Governors announced today.
Industrial Production in U.S. Rose 0.1% in October, Weaker Than Estimated Industrial production in the U.S.
rose less than forecast in October, restrained by a reduction in
auto manufacturing as the effects of trade-in incentives
dissipated and a decline in demand for business equipment.
U.S. Stocks Decline as Industrial Output Trails Estimates; Boeing Retreats Most U.S. stocks declined, pulling
benchmark indexes down from 13-month highs, after industrial
production increased less than forecast and declines in metal
prices weighed on commodity producers. The dollar strengthened
for the first time in three days.
Obama Urges Hu to Keep Promises on Yuan Appreciation as Trade Gap Widens President Barack Obama called on
Chinese counterpart Hu Jintao to make good on a commitment to
allow the yuan to appreciate to help prevent trade imbalances
that exacerbated the global economic crisis.
Buffett's Berkshire Discloses Holdings in Exxon Mobil, Nestle, Travelers Warren Buffett’s Berkshire Hathaway
Inc. took stakes in Exxon Mobil Corp. and Nestle SA, betting on
the world’s biggest producers of oil and food.
GMAC's Carpenter Plans to Build Auto Finance, Find a `Solution' for ResCap GMAC Inc., the lender seeking a
third taxpayer bailout, must focus on auto financing and find a
“solution” to its money-losing mortgage business, newly
appointed Chief Executive Officer Michael Carpenter said.
Wall Street Lost Fewer Jobs Than Forecast, New York State Comptroller Says Wall Street is recovering faster
than the national economy, with New York City’s four largest
investment firms reaping profits of $22.6 billion through Sept.
30 after losing more than $40.3 billion last year, state
Comptroller Thomas DiNapoli reported.
source: Bloomberg
