Pre helps Palm narrow loss, unveils share sale
SAN FRANCISCO (Reuters) – Robust sales of the Pre smartphone helped Palm Inc (PALM.O) post a smaller-than-expected loss, but a tepid second-quarter sales fore...
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Updates from regulators, markets, and the wider Indian finance sector.
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Citigroup CEO says $100 million annual pay is too much
NEW YORK (Reuters) – Citigroup (C.N) Chief Executive Vikram Pandit said on Thursday that $100 million is too much for an employee to earn given the bank's ci...
American, BA, Qantas eye joint offer to JAL: sources
HTML clipboard TOKYO (Reuters) – American Airlines will team up with British Airways (BAY.L) and Qantas Airways (QAN.AX) to make a joint alliance proposal to recapitalize...
Asian shares pull back, dollar gains respite
HTML clipboard HONG KONG (Reuters) – Asian stocks retreated from 13-month highs on Friday and commodity prices dipped after data giving a conflicting picture about the strengt...
Axis Bank opens QIP, GDR issue to raise $720 mn
HTML clipboard Axis Bank on Thursday opened its qualified institutional placement (QIP)-cum-global depository receipts (GDR) issue through which it proposes to raise up to $...
RBI draft norms for repo deals in corporate bonds
HTML clipboard Taking forward the agenda for developing the corporate bond market, the Reserve Bank of India said it initially intends to allow repo transactions in only lis...
SBI eyes $1-bn acquisitions in UK
HTML clipboard State Bank of India, India's largest lender, was looking at acquisitions of up to $1 billion in the UK and expected to maintain a 40 per cent growth rate in...
Brown's spending cuts will be worst since '76: Research
HTML clipboard Prime Minister Gordon Brown's government may have to cut spending at the sharpest pace since Britain negotiated its finances with the International Moneta...
India Inc mops up Rs 40,000 cr debt in Q1
HTML clipboard India Inc's fund raising through private placement of debt surged 42 per cent to Rs 40,300 crore in the first quarter of the current fiscal, with over half...
IT majors now in race for low-value US state deals
HTML clipboardMUMBAI/BANGALORE: Infosys Technologies Wipro and HCL Technologies are among the software service providers that are laying foundation for the next roun...
Early policy unwind riskier: RBI deputy governor
HTML clipboardNEW YORK: The Reserve Bank of India's deputy governor hinted on Thursday it was too soon for the central bank to unwind its accommodative monetary polic...
Rupee seen down as Asian shares lower
HTML clipboard MUMBAI: The rupee is expected to weaken on Friday, tracking a drop in regional stocks and the dollar rise against major currencies * At 8:40 a.m...
ABG to Continue Seeking More in Great Offshore
HTML clipboardNEW DELHI -- ABG Shipyard Ltd. said Thursday it will continue to seek a controlling stake in Great Offshore Ltd. as a bidding war between two of India's bigge...
India Wholesale Prices Rise for First Time in 14 Weeks
HTML clipboardNEW DELHI -- Wholesale prices in India rose for the first time in 14 weeks and analysts expect the inflation to outpace the Reserve Bank of India's forecast b...
U.K. Minister: India Should Allows U.K. Banks to Open More Branches
HTML clipboardMUMBAI -- India should allow U.K.'s banks to open more branches here, U.K. Minister for Trade, Investment and Business Mervyn Davies said Thursday. "Not just...
SBI Plans 5 New Branches in London by June
HTML clipboardMUMBAI -- State Bank of India, the country's largest lender by assets, plans to open five new branches in the U.K., its chairman said Thursday. "We have seve...
India Mutual Funds May Keep Deploying Cash
HTML clipboardMUMBAI -- Indian fund managers may continue to deploy more cash in equities to make the most of the buoyant markets, even though the pace of investments slowed in...
Tata Steel May Refinance About $900 Million Raised for Corus Buy
HTML clipboardMUMBAI -- Tata Steel Ltd. may refinance around $900 million that it had raised to partly fund its acquisition of Anglo-Dutch steel maker Corus in 2007, a person f...
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