Category Archives: Business News
Gov. Scott (R-ALEC) Walker’s billionaire donor pays nothing (zero) in State Corporate income tax
Billionaire Diane Hendricks, the anti-labor donor who contributed $500,000 to Gov. Scott Walker to make Wisconsin a red state is the largest donor to help fight his recall. Hendricks’ firm pays zero State Corporate income tax. Walker is under more scrutiny since the besieged Governor’s conversation with his benefactress billionaire was outed in a video [...]
Infosys says seeks acquisitions worth up to $700 mln
SHANGHAI (Reuters) – Infosys Ltd, India’s No.2 software services exporter, is looking for acquisitions worth up to $700 million, Infosys’ Executive Co-Chairman Kris Gopalakrishnan said on Thursday. India’s IT sector, which feeds off increased outsourcing by companies looking to cut costs, is expected to face pricing pressure and a decline in new orders as Europe [...]
Boeing profit lifted by commercial, defence sales
REUTERS – Strong demand for commercial and military aircraft lifted quarterly earnings at Boeing Co, making the builder of the new 787 Dreamliner the latest big-ticket manufacturer to ease fears about global economic conditions. The results and a higher 2011 profit forecast sent Boeing shares 5 percent higher. The stock also gained on news of [...]
SBI expects 100-125 bps rise in savings bank fund costs
MUMBAI (Reuters) – State Bank of India, the country’s biggest lender, expects its average funding cost for savings bank accounts to rise 100-125 basis points, its chairman said Friday. “I think that’s going to be inevitable. We are prepared for some pressure on the cost of saving bank funding,” Pratip Chaudhuri told television channel CNBC-TV18 [...]
End of the road for gold?
No, surely not. However it is time to be cautious for sure. What are the risks in gold? Or is it that there are no risks at all, as some readers would like to believe? Well let us look at some of the risks: 1. It is not an essential commodity: You cannot eat gold. [...]
2G relief for Tata, Ambani and Radia
NEW DELHI: The Delhi high court on Wednesday refused to hear a plea seeking direction to the Central Bureau of Investigation (CBI) to include industrialists Ratan Tata and Anil Ambani along with lobbyist Niira Radia as co-accused in the 2G telecom spectrum case. The court termed it a “rubbish plea”. “I will not pass any [...]
Treacherous Road Awaits Toyota’s Recoveryby Japan
TOKYO (Nikkei)–The strong yen and ascendant foreign rivals are expected to threaten Toyota Motor Corp.’s (7203) post-quake recovery as the automaker rushes to bring back production levels and reclaim the lost share in foreign markets. Japan’s top carmaker announced Friday that its global production, including the Lexus luxury brand, will edge up 1% to 7.39 [...]
Rupee down by 3 paise against US dollar in early trade
MUMBAI: The rupee on Tuesday recovered its initial sharp losses in line with the local equities and late dollar demand, still it ended lower by three paise against the US currency. A weak dollar overseas amid early fall in local equities and fresh capital outflows led the rupee to resume down at 44.55/56 a dollar [...]
Exports post highest growth of 37.5% at $245.90bn in FY 2011
NEW DELHI: Exports registered the highest ever growth of 37.5 per cent at USD 245.9 billion during 2010-11, demonstrating a robust demand for Indian merchandises not just in the western economies but in new markets like Latin America as well. Exports for March rose by a handsome 43.9 per cent to USD 29.1 billion compared [...]
ONGC Lost Rs 9 cr 400 Tonne Of Crude Oil During Strike
ONGC Lost Rs 9 cr 400 Tonne Of Crude Oil During Strike Oil and Natural Gas Corporation (ONGC) has lost Rs 9 crore and 400 tonne of crude oil production in the last three days due to the 96-hour ONGC bandh called by the All Assam Students Union (AASU) from Monday in upper Assam. According [...]
Andhra Bank Raises Rs 600 cr Via Bonds
Andhra Bank Raises Rs 600 cr Via Bonds Andhra Bank has raised Rs 600 crore by selling bonds in two tranches in current month. The bank raised Rs 280 crore by issuing upper Tier-II bonds. The annual coupon of for this issue was 8.70 per cent. The issue opened on December 14, 2009 and closed [...]
KEC International | KEC International wins six new projects worth Rs 550 Crore
KEC International | KEC International wins six new projects worth Rs 550 Crore KEC International, a global leader in the power transmission EPC business has won major orders in Algeria and Abu Dhabi worth Rs 474 crore and Rs 76 crore respectively. In Algeria, for CEEG Spa, KEC will undertake five turnkey projects of 400 [...]
World stocks hit new 14-month high after BoA
LONDON (Reuters) – World stocks hit a fresh 14-month high on Thursday while oil also rose after Bank of America said it would repay $45 billion of taxpayer bailout funds in a move which injected optimism into the financial sector. Wall Street also looked set for a positive start. The European Central Bank left its [...]
Nano to go hybrid way, get facelift: Tata
Less than a year after the launch of the Nano comes news that the car is going to have a hybrid and is even getting an exterior facelift. Talks of an electric version of the Nano have been in the air for a while now, but reports on Monday said Ratan Tata, chairman of Tata [...]
Bharti slashes mobile roaming charges, shares fall
Bharti Airtel launched yet another new billing plan on Friday, slashing mobile roaming rates by nearly 60 percent and signalling a tariff war in the world’s fastest-growing wireless market was far from over. The announcement accelerated losses in the shares of Bharti, the country’s top mobile operator. The stock fell as much as 3.3 percent [...]
India’s billionaire list doubles
Reliance Industries chairman Mukesh Ambani is once again the wealthiest person in India. The net worth of the promoter of the largest listed Indian company is put at $32 billion, an increase of 54 per cent from nearly $21 billion last year, according to a Forbes report. “Trailing behind him are Lakshmi Mittal (Arcelor Mittal) [...]