Sunday, October 31, 2010

Business News -31 October 2010

  • Istanbul Bus Blast Injures 15 Police, 17 Civilians
    Sun, 31 Oct 2010 06:38:00 -0700
    A suicide bombing in central Istanbul injured 15 police and 17 civilians, said the city’s Governor Huseyin Avni Mutlu. Five of the policemen were “heavily injured,” he said.
  • Brazil May Elect Rousseff to Maintain Lula Policies
    Sun, 31 Oct 2010 06:34:00 -0700
    Brazilians are likely to elect Dilma Rousseff as the country’s first female president today after she pledged to continue the policies of her mentor Luiz Inacio Lula da Silva and end poverty in the world’s eighth-largest economy.
  • Who's suing: Apple vs. Motorola edition
    Sun, 31 Oct 2010 06:11:47 -0700
  • Special Report: For GM IPO, the government is back-seat driver
    Sun, 31 Oct 2010 06:09:57 -0700
    NEW YORK/DETROIT (Reuters) - Steve Girsky remembers sitting at his kitchen table in New York on the eve of President Barack Obama's election when he realized that General Motors was going to run out...

  • Raytheon to sell up to $4 billion in arms to Saudi
    Sun, 31 Oct 2010 05:56:42 -0700
    RIYADH (Reuters) - U.S. firm Raytheon plans to deliver arms worth $4 billion to Saudi Arabia, while eyeing more contracts with the kingdom and neighboring states Kuwait, Qatar and the United Arab...

  • GAIL seals LNG deal with Marubeni
    Sun, 31 Oct 2010 05:50:27 -0700
    NEW DELHI (Reuters) - GAIL (India) Ltd has signed a three-year deal with Japanese trader Marubeni to buy 500,000 million tonnes of liquefied natural gas, GAIL's chairman said on Sunday.
  • CNN's election coverage
    Sun, 31 Oct 2010 05:16:23 -0700
  • Living amid an energy boom
    Sun, 31 Oct 2010 05:11:37 -0700
    Traffic, noise, pollution and money are some of the newcomers to rural Pennsylvania as the shale gas industry takes off.
  • Niger Votes on Constitution to Limit President’s Power
    Sun, 31 Oct 2010 04:54:00 -0700
    Citizens of Niger have begun voting on a new constitution that limits presidential powers, undoing changes made by former President Mamadou Tandja.
  • Kolkata upbeat about purchasing gold ahead of Dhanteras
    Sun, 31 Oct 2010 04:41:00 -0700
    Despite skyrocketing prices of gold, people in Kolkata have been rushing to gold outlets to book orders for the yellow metal ahead of the auspicious occasion of Dhanteras.
  • Ivory Coast Votes in Election Aimed at Uniting Nation
    Sun, 31 Oct 2010 04:31:17 -0700
    Ivory Coast began voting in its first presidential election in a decade, the latest effort to restore political stability and revive investment in the world’s biggest cocoa producer.
  • MGM film giant agrees rescue deal
    Sun, 31 Oct 2010 04:29:33 -0700
    Creditors of Hollywood's legendary MGM studio back a rescue deal offered by US firm Spyglass Entertainment.
  • Historic Egypt retail chain bought for $55 mln
    Sun, 31 Oct 2010 04:20:26 -0700
    CAIRO (Reuters) - Egypt's Arabiyya Lel Estithmaraat investment firm said on Sunday it agreed to pay 320 million Egyptian pounds ($55.4 million) for a majority stake in the historic Omar Effendi department store chain.
  • Indian ADRs shed nearly $3 bn in a week
    Sun, 31 Oct 2010 04:13:27 -0700
    Indian stocks trading on American bourses witnessed a value erosion of nearly USD 3 billion last week, with IT major Wipro and HDFC Bank accounting for most of the total losses. For the week ended October 29, the 15 Indian entities listed on the New York Stock Exchange and Nasdaq together shed USD 2.73 billion of their market capitalisation (m-cap), while the previous week they had lost USD 4.82 billion. Thus, put together, Indian firms have lost about USD 7.55 billion in value within two weeks. Of the 15 firms listed as American Depository Receipts
  • 7 top firms shed 28k cr in m-cap
    Sun, 31 Oct 2010 04:11:39 -0700
    Market capitalisation (m-cap) of seven of the country s top-10 firms eroded by Rs 28,193 crore last week, with oil and gas major ONGC recording the biggest loss in valuation. With an erosion of Rs 8,619.65 crore from its market valuation, state-run ONGC emerged as the biggest loser in the club based on m-cap. ONGC s m-cap stood at Rs 2,78,748.23 crore as on Friday. ONGC shares declined by nearly three per cent during the week to close at Rs 1,303.25 on Friday at the Bombay Stock Exchange. Corporate giant Reliance Industries (RIL) yet again ruled
  • Coke, Pepsi bets big on festive fervour
    Sun, 31 Oct 2010 04:09:26 -0700
    In a bid to push sales before the advent of winter, beverage majors Coca-Cola and PepsiCo are in a race to woo customers during the festive season by launching attractive offers and new marketing campaigns. While PepsiCo kicked off its festive campaign with the Shadi TV commercial featuring actor Ranbir Kapoor, it has also come out with special packages for this Diwali season. Similarly, Coca-Cola has also launched its festive campaign Come Home on Deepawali besides bringing out special bottles with Warli art on it for the festivals. Indian market
  • Sensex to hit 21k mark on Diwali: Analysts
    Sun, 31 Oct 2010 04:06:15 -0700
    The Bombay Stock Exchange s benchmark Sensex is likely to hit the much awaited psychological level of 21,000 in the next week, driven by the smart RIL numbers and expectations of robust listing of the Coal India IPO, say analysts. Sensex, which saw a subdued performance last week by shedding 0.66 per cent, mainly on account of tight liquidity, may bounce back by surging over a staggering 1,000 points. The country s most valued firm Reliance Industries has posted better-than-expected second quarter numbers, which will boost the investor sentiment
  • Stocks' week of reckoning arrives
    Sun, 31 Oct 2010 04:06:06 -0700
    After a two-month rally in the stock market, some investors are about to see if they get what they wished for: more Republicans in Congress and lots of cheap money.

  • Tanzanian Election Likely to Hand Kikwete Second Term
    Sun, 31 Oct 2010 04:05:00 -0700
    Tanzanians began voting in an election that will probably hand President Jakaya Kikwete a second five-year term to implement policies aimed at strengthening East Africa’s second-biggest economy.
  • Nooyi to be part of biz delegation with Obama
    Sun, 31 Oct 2010 04:03:08 -0700
    US President Barack Obama will be accompanied by 200 business leaders, including soft drink giant PepsiCo s India-born CEO Indra Nooyi, during his November 6-9 India visit, which is mostly focussed on improving bilateral economic ties. His cavalcade will include Air Force One, 18 cargo planes and two extra jumbo jets carrying hundreds of secret service agents, communications equipment, a team of White House chefs, doctors, 100 journalists and 45 vehicles, half of which are used as a decoy motorcade, The Sunday Times reported. Obama arrives in India
  • Key infra sectors to miss investment targets: Plan Panel
    Sun, 31 Oct 2010 04:00:05 -0700
    Expressing dismay over lag in infrastructure projects, the Planning Commission has said investments in key sectors like roads, railways and ports will be significantly lower in the 11th Five year Plan. According to the Commission, the actual investments in these three sectors are likely to be about 21 per cent lower at Rs 5.20 lakh crore than the originally estimated amount of Rs 6.64 lakh crore in the 11th Plan period, ending March 2012. The projected investment in the road sector is significantly lower at Rs 2.78 lakh crore compared with Rs 3
  • Medvedev’s Vietnam Visit Brings Nuclear Plant Deal
    Sun, 31 Oct 2010 03:54:00 -0700
    Russia agreed to build Vietnam’s first nuclear power plant in a ceremony in Hanoi presided over by Russian President Dmitry Medvedev as he seeks to revive ties with the former Soviet ally.
  • Sukuk Five-Month Gain Will Spur Sales Recovery: Islamic Finance
    Sun, 31 Oct 2010 03:21:00 -0700
    Islamic bonds gained for a fifth month, sending yields to the lowest levels since 2005, as faster growth in the Persian Gulf lured investors who expect new sales to recover after falling 27 percent this year.
  • The Art of Calculated Risk
    Sun, 31 Oct 2010 03:00:00 -0700
    Richard Branson shares his secret for evaluating new opportunities, and how you can apply it to your business.
  • Aquatic pollution damage cost estimated at $18 bln a year
    Sun, 31 Oct 2010 02:33:09 -0700
    Global shipping is hurting the marine environment, with aquatic pollution damage cost estimated at $18 billion annually, according to environmental charity Going Blue Foundation.
  • Reliance sees room for improvement in petrochem margins
    Sun, 31 Oct 2010 02:30:26 -0700
    MUMBAI (Reuters) - Conglomerate Reliance Industries sees room for improvement in petrochemical margins, Chief Financial Officer Alok Agarwal said on Sunday.
  • Syria attempts to develop infrastructure
    Sun, 31 Oct 2010 02:22:26 -0700
    Syria has had a relatively closed economy until recently, but it's now trying to attract new investment in order to develop its infrastructure.
  • Indonesia sees 2010 foreign investment at $14.5bln
    Sun, 31 Oct 2010 02:10:28 -0700
    JAKARTA (Reuters) - Indonesia expects foreign investment of 130 trilion rupiah ($14.55 billion) in 2010, the country's investment board said on Sunday.
  • Sleepy in Seattle: Microsoft learns to mature
    Sun, 31 Oct 2010 00:20:38 -0700
    SEATTLE (Reuters) - Every July, Microsoft Corp invites a sizable Wall Street crowd to its leafy, low-rise campus outside Seattle. Chief Executive Steve Ballmer and his top managers take a half-day to explain where the world's biggest software company is going, to a generally friendly audience.
  • Vietnam and Japan to mine rare earths together
    Sun, 31 Oct 2010 00:20:26 -0700
    HANOI (Reuters) - Vietnam has chosen to partner Japan in mining rare earth minerals and building a nuclear power plant in the Southeast Asian country, Japanese Prime Minister Naoto Kan said on Sunday, as Tokyo seeks to reduce its dependence on China.
  • Vietnam and Japan to mine rare earths together
    Sat, 30 Oct 2010 23:56:18 -0700
    HANOI (Reuters) - Vietnam has chosen to partner Japan in mining rare earth minerals and building a nuclear power plant in the Southeast Asian country, Japanese Prime Minister Naoto Kan said on...

  • Cablevision and Fox reach programming deal
    Sat, 30 Oct 2010 23:11:12 -0700
    NEW YORK (Reuters) - Cablevision Systems Corp and News Corp have a reached a programing deal which sees the return of the Fox local stations to more than three million New York area homes after a...

  • Tribune creditors file three reorganization plans
    Sat, 30 Oct 2010 20:18:25 -0700
    WILMINGTON, Del (Reuters) - Three different groups of creditors to Tribune Co filed rival proposals for ending the newspaper publisher's near two-year stay in bankruptcy.

  • Candover looks to sell £400m Qioptiq
    Sat, 30 Oct 2010 13:53:14 -0700
    Private equity firm Candover is gearing up for a £400m sale of its high-end defence company Qioptiq.
  • All eyes turn to the 'printing money' issue
    Sat, 30 Oct 2010 13:45:44 -0700
    Our Rebuilding Confidence series has touched a nerve across the UK.
  • Capital threat to Osborne's pledge on transport links
    Sat, 30 Oct 2010 13:45:06 -0700
    The prospects for major infrastructure projects in the UK have worsened and are under threat from a lack of capital, according to a panel of industry experts.
  • BP profits trail behind rivals
    Sat, 30 Oct 2010 13:39:09 -0700
    Oil giant is likely to miss out on the rising profits of other oil majors in the third quarter, as it takes a new charge on its Gulf of Mexico oil spill.
  • M&S plans to take Twiggy international
    Sat, 30 Oct 2010 13:38:14 -0700
    As part of M&S's major strategic review, Marc Bolland's plans are likely to include a revolutionary push overseas
  • MPC expected to hold fire on more quantitative easing
    Sat, 30 Oct 2010 13:37:40 -0700
    Bank of England policymakers are not expected to pump more money into the economy, even as the US gears up for further stimulus.
  • Lloyds Banking Group expected to make full-year profit
    Sat, 30 Oct 2010 13:16:28 -0700
    Lloyds Banking Group will confirm this week that it remains on track to make its first full-year profit since the bank's partial nationalisation two years ago.

Technical News - 31 October 2010