Thursday, July 15, 2010

Business - 15 July 2010

  • Bharat Forge Q1 net to soar on better sales, margins
    Thu, 15 Jul 2010 00:50:38 -0700
    MUMBAI (Reuters) - Bharat Forge, the world's second biggest forgings maker, is expected to report a huge jump in April-June net profit helped by a lower base last year and rising sales.
  • POLL - U.S. growth outlook cut running into next year
    Thu, 15 Jul 2010 00:50:26 -0700
    NEW YORK (Reuters) - Recent evidence the U.S. economic recovery may be slowing has prompted analysts to scale back their expectations for the pace of growth into next year, a Reuters poll showed.
  • Old Spice Man Ends Victorious Campaign To Conquer Twitter, YouTube
    Thu, 15 Jul 2010 00:41:05 -0700
    They're going to be studying the marketing campaign Wieden + Kennedy just put together for Old Spice
  • Religare to buy part of Citi India loan portfolio-report
    Thu, 15 Jul 2010 00:40:38 -0700
    BANGALORE (Reuters) - Financial services firm Religare Enterprises Ltd has agreed to buy a part of Citigroup's home loan portfolio in India for nearly 5 billion rupees ($107 million), the Economic Times said.
  • IG Markets Australian Market Wrap
    Thu, 15 Jul 2010 00:34:54 -0700
    The Australia 200 CFD Index finished 0.4% lower at 4442.6, with both defensive and cyclical sectors weighing.
  • Coffin up
    Thu, 15 Jul 2010 00:32:05 -0700
    The popularity of personalised funerals is increasing, as are burial costs
  • Cabinet approves merger of State Bank of Indore with SBI
    Thu, 15 Jul 2010 00:30:38 -0700
    NEW DELHI(Reuters) - The cabinet on Thursday approved the merger of State Bank of Indore with State Bank of India , the country's largest lender, Information and Broadcasting Minister Ambika Soni told reporters.
  • Asian stocks under pressure but China data helps
    Thu, 15 Jul 2010 00:30:27 -0700
    SINGAPORE (Reuters) - Asian stocks fell on Thursday as investors took profits from a recent rally after the Federal Reserve's caution on the U.S. economic recovery, even as Chinese data pointed to only a mild cooling in that economy.
  • Venture investment more optimistic outside US: survey
    Thu, 15 Jul 2010 00:26:04 -0700
    The market for venture capital is predicted to contract in the US and expand in overseas emerging markets over the next five years. Mature geographies obviously will not grow as fast as those that are emerging, but there is endless opportunity ahead, according to survey by Deloitte and the National Venture Capital Association.
  • BP runs crucial test on Gulf oil leak
    Thu, 15 Jul 2010 00:20:59 -0700
    HOUSTON (Reuters) - BP Plc was running a crucial test on Thursday on its ruptured Gulf of Mexico oil well that could stanch the flow of crude that has polluted the ocean and shoreline since April.
  • India gold traders stay away from fresh deals; rupee eyed
    Thu, 15 Jul 2010 00:20:49 -0700
    MUMBAI (Reuters) - India gold traders refrained from entering into fresh deals as prices edged up to trade comfortably near the $1,210-an-ounce mark, with traders eyeing the rupee for direction, dealers said on Thursday.
  • Asian stocks erase losses after China data
    Thu, 15 Jul 2010 00:20:34 -0700
    Asian stocks erased most of their early losses on Thursday and the Australian dollar jumped after a spate of Chinese data confirmed the economy was slowing gradually but delivered no nasty surprises.
  • BOJ sees fastest economic growth in decade in 2010/11
    Thu, 15 Jul 2010 00:20:27 -0700
    TOKYO (Reuters) - The Bank of Japan forecast emerging markets would help the economy grow 2.6 percent this fiscal year, its fastest pace in a decade, but it warned that Europe's debt woes could pose a risk to the outlook.
  • GE CEO Immelt sees slow U.S. and European crisis exit: report
    Thu, 15 Jul 2010 00:16:00 -0700
    MILAN (Reuters) - The United States and Europe are slowly pulling out of the economic crisis, General Electric Co chairman and chief executive Jeffrey Immelt told la Repubblica daily in an interview on Thursday.

  • Yen Climbs on Global Slowdown Signs, Fed Outlook; Aussie Falls
    Thu, 15 Jul 2010 00:12:00 -0700
    The yen rose against all its major counterparts as signs of slower growth in the U.S. and China curbed demand for higher-yielding assets.
  • U.K. RPI-Linked Bond Sale May Suffer From Pension Policy Change
    Thu, 15 Jul 2010 00:07:14 -0700
    Demand at today’s auction of index- linked British bonds may suffer after the government changed the inflation gauge some pensions must follow, creating uncertainty for managers of retirement funds, JPMorgan Chase & Co. said.
  • iPhone (And Mel Gibson) Get David Letterman's Top Ten Treatment
    Thu, 15 Jul 2010 00:06:19 -0700
    Questions about the iPhone's antenna have officially gone mainstream.
  • Asia Stocks, Commodities Drop on Fed, U.S. Retail Sales, China
    Thu, 15 Jul 2010 00:03:00 -0700
    Asian stocks declined from a three- week high and commodities fell after the Federal Reserve cut its growth forecast, U.S. retail sales declined and China’s economic growth eased. The yen rose against all of its major counterparts.
  • Osborne Said to Plan Demand Banks Set Corporate Loan Targets
    Thu, 15 Jul 2010 00:02:33 -0700
    U.K. Chancellor of the Exchequer George Osborne will demand today that banks, including those that didn’t receive a taxpayer rescue, set corporate-lending targets, people familiar with the matter said.
  • Asian stocks under pressure but China data helps
    Thu, 15 Jul 2010 00:00:41 -0700
    SINGAPORE (Reuters) - Asian stocks fell on Thursday as investors took profits from a recent rally after the Federal Reserve's caution on the U.S. economic recovery, even as Chinese data pointed to only a mild cooling in that economy.

  • China economy slows, still in Beijing's comfort zone
    Thu, 15 Jul 2010 00:00:39 -0700
    BEIJING (Reuters) - China's economy cooled in the second quarter, a slowdown that is likely to extend over the rest of the year as Beijing steers monetary and fiscal policy back to normal after a record credit surge to counter the global crisis.
  • Business Bullet: China, US Fed, BP, Mothercare
    Thu, 15 Jul 2010 00:00:31 -0700
    The latest news on: China, US Fed, BP, Mothercare
  • Glaxo takes £1.57bn charge for Avandia, Paxil
    Wed, 14 Jul 2010 23:54:19 -0700
    British drug maker to take charge to cover settlements and legal actions relating to diabetes pill Avandia and antidepressant Paxil.
  • Mothercare lifted by global sales
    Wed, 14 Jul 2010 23:52:57 -0700
    Mothercare continues to see strong growth in its international business but says sales in the UK fell in a "challenging" market.
  • Subdued AgBank debut dampens China fundraising outlook
    Wed, 14 Jul 2010 23:50:52 -0700
    SHANGHAI (Reuters) - Agricultural Bank of China's record $22 billion IPO made a lackluster debut in Shanghai, underscoring the challenges ahead for China's markets as other big banks look to tap investors for billions of dollars.

  • Fuel inflation at 14.27 pct y/y as on July 3
    Wed, 14 Jul 2010 23:50:26 -0700
    NEW DELHI (Reuters) - Fuel price index rose 14.27 percent in the year to July 3, while the food price index climbed 12.81 percent, government data released on Thursday showed.
  • NTT Agrees to Buy Dimension for 2.1 Billion Pounds
    Wed, 14 Jul 2010 23:50:00 -0700
    Nippon Telegraph & Telephone Corp., Japan’s largest phone company, agreed to buy South Africa’s Dimension Data Plc for 2.1 billion pounds ($3.2 billion) in cash to expand globally.
  • China economy cools in second quarter
    Wed, 14 Jul 2010 23:49:17 -0700
    BEIJING (Reuters) - China's economy cooled in the second quarter, a slowdown that is likely to extend over the rest of the year as Beijing steers monetary and fiscal policy back to normal after a record credit surge to counter the global crisis.

  • Glaxo Sees $2.4 Billion Pound Legal Charge in Quarter
    Wed, 14 Jul 2010 23:48:00 -0700
    GlaxoSmithKline Plc expects to record a 1.57 billion-pound ($2.4 billion) legal charge in the second quarter to settle legal cases including lawsuits that alleged its Avandia diabetes drug led to heart attacks.
  • Glaxo expects $2.4 billion legal charge in Q2
    Wed, 14 Jul 2010 23:46:24 -0700
    LONDON (Reuters) - GlaxoSmithKline expects to record a legal charge of 1.57 billion pounds ($2.4 billion) for the second quarter after settling the "substantial majority" of claims relating to its diabetes pill Avandia.

  • Canada Pension Bids for Intoll Group; Shares Surge
    Wed, 14 Jul 2010 23:39:00 -0700
    Canada Pension Plan Investment Board offered A$3.47 billion ($3.1 billion) for Macquarie Group Ltd.- backed Intoll Group in its second attempt to buy an Australian toll-road operator in eight months. Intoll shares surged.
  • HK market fell 0.28% at break
    Wed, 14 Jul 2010 23:37:26 -0700
    Hong Kong shares fell 0.28 percent by lunch as China said its economic growth had slowed slightly and AgBank disappointed with lackluster Shanghai debut.
  • Petrol prices to be revised every month
    Wed, 14 Jul 2010 23:32:06 -0700
  • Chinese economic growth falls off
    Wed, 14 Jul 2010 23:31:08 -0700
    The pace of growth in the world's third-largest economy slowed in the second quarter, official figures show.
  • BSE Sensex flip-flops; banks down, Infosys up
    Wed, 14 Jul 2010 23:10:27 -0700
    MUMBAI (Reuters) รข€“ The BSE Sensex was choppy on Thursday as investors adjusted their positions after a sharp rally, and subdued Asian markets cast a long shadow.
  • Indian investments to UK decline sharply
    Wed, 14 Jul 2010 23:07:04 -0700
  • £16m to boost 'adventure tourism'
    Wed, 14 Jul 2010 22:49:14 -0700
    Nearly £16m of funding is awarded to boost outdoor and adventure activities across Wales.
  • China AgBank trade in slow start
    Wed, 14 Jul 2010 22:41:17 -0700
    Billed as the biggest public offering in history, trading in the Agricultural Bank of China flotation gets off to a slow start.
  • China sees relaxing growth in June as government initiates strict fiscal reforms
    Wed, 14 Jul 2010 22:37:21 -0700
    China seems living up to economic speculations by global experts as Beijing stepped up its efforts to slow down the country’s accelerating expansion with the latest figures from the National Bureau of Statistics (NBS) showing that the Chinese economy merely grew at a rate of 10.3 percent over the year and leading to June.
  • Taking tee to China
    Wed, 14 Jul 2010 22:28:40 -0700
    China is the new golfing nation says boss of 12-course complex
  • Head for business
    Wed, 14 Jul 2010 22:28:01 -0700
    Mike Faith became irritated when he couldn't find a reliable supply of telephone headsets.
  • Dreamliner flies
    Wed, 14 Jul 2010 22:27:43 -0700
    After a two-year wait, Boeing's latest plane is coming to the UK
  • Wall Street bill nears the finish line in Congress
    Wed, 14 Jul 2010 21:23:40 -0700
    WASHINGTON (Reuters) - The broadest overhaul of U.S. financial rules since the Great Depression is likely to clear a crucial hurdle in Congress on Thursday morning, paving the way for President Barack Obama to sign the measure into law.

  • China's Growth Slows
    Wed, 14 Jul 2010 20:56:18 -0700
    China's GDP grew an annualised 10.3% in the second quarter, below consensus.
  • Australian Stock Market Report - Midday
    Wed, 14 Jul 2010 20:55:29 -0700
    The Australian sharemarket is currently trading slightly lower with the All Ordinaries index (XAO) down 0.20pct or 8.5pts to 4468.8 at lunch.

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