Tata Steel Turns to Second-Quarter Loss on Lower Prices, Output at Corus Tata Steel Ltd., India’s biggest
producer, turned to a bigger-than-expected second-quarter loss
because of lower prices and production at its European unit
Corus Group Ltd. The shares declined.
ONGC Will Meet Iranian Oil Officials to Discuss `Specific Opportunities' Oil & Natural Gas Corp., India’s
biggest energy producer, plans to discuss “specific
opportunities” with executives from National Iranian Oil Co.
next week, said Chairman and Managing Director R.S. Sharma.
Asian Stocks Fall on Capital Concerns, Dollar Slump; Bakrie, Honda Decline Asian stocks fell, led by banks and
Japanese automakers, amid capital-raising concerns and as the
dollar slumped to a 14-year low against the yen.
Gold Imports Drop as Record Price Cools India Wedding Demand, Group Says Gold imports by India, the biggest
buyer, slumped for the seventh month as jewelers and housewives
shunned bullion because of record prices, a traders’ group said.
Cotton Supplies Are `Adequate,' Won't Halt Exports, Minister Thomas Says India, the second-biggest producer
of cotton, said there’s no plan to halt exports of the fiber.
Buy Indian State-Run Banks, Energy, Industrial Stocks, Morgan Stanley Says Investors should buy Indian state-
owned banks, energy, and industrial shares and avoid technology
stocks, Morgan Stanley said.
India's Rupee Weakens on Dollar Demand for Month-End Payments on Imports India’s rupee dropped for the first
time in five days on speculation importers bought dollars to
meet month-end payments.
Draper Fisher to Raise $400 Million for Startups in India, U.S. by March Draper Fisher Jurvetson, the venture
capital firm that backed Skype and Baidu Inc., expects to raise
as much as $400 million by March to invest in startups in India,
China and the U.S.
Stocks Slump, Bonds Rise as Dubai Roils Markets; Credit-Default Swaps Soar European stocks fell the most in
three weeks and bonds jumped after Dubai’s attempt to reschedule
its debt rattled investors seeking higher returns in emerging
markets. The dollar dropped to a 14-year low against the yen.
Dubai's Debt Delay Rattles Investor Confidence in Persian Gulf Borrowers Dubai is shaking investor confidence
across the Persian Gulf after its proposal to delay debt
payments risked triggering the biggest sovereign default since
Argentina in 2001.
GE May Be Closer to Selling Control of NBC to Comcast as Immelt, Levy Meet General Electric Co. may be closer
to selling control of NBC Universal to Comcast Corp. after Chief
Executive Officer Jeffrey Immelt met with NBC’s minority owner
Vivendi SA, two people with knowledge of the situation said.
British Banks Will Be Facing `World's Toughest Bonus Rules,' Walker Says U.K. banks face the toughest bonus
regime in the world if proposals outlined in a government-
commissioned report are accepted, according to its author,
Morgan Stanley Senior Adviser David Walker.
Anthony Bolton Starts China Fund for Fidelity as West `Runs Out of Steam' Fidelity International’s Anthony
Bolton said China’s “attractive” economic growth lured him to
move to Hong Kong to set up a fund focusing on the country as
recovery in the U.S. and Europe “runs out of steam.”
Ameriprise Wins, Deutsche Bank Loses in Reserve Primary Money Fund Ruling A group of investors including
Ameriprise Financial Inc. won a victory yesterday when a federal
judge ordered the Reserve Primary Fund to distribute its assets
equally among all shareholders.
Payments From `Bloodthirsty' Lawyers Return to Haunt British Car Insurers U.K. motor insurers, including
Aviva Plc, Admiral Group Plc and Fortis Insurance Ltd., thought
they had found a way to squeeze out extra revenue when their
customers get into car crashes.
source: Bloomberg
