- HSBC warns UK bank break-up could force exodus HSBC Holdings warned that Britain's big banks could move overseas if a government review decides that lenders should be broken up
- Spain: Over 110,000 firms closed during recession The economic recession forced a total of 110,058 Spanish companies to go out of business, the ministry of labour and immigration has said.
- Investment bank Carnegie to buy troubled HQ Bank Carnegie said on Friday it was buying HQ Bank, which was closed by authorities last weekend for breaking risk rules
- Food inflation at 10.86 pc; fuel inflation accelerates Food and fuel inflation accelerated in the third week of August, maintaining pressure on the RBI to tighten monetary policy.
- India looks at South America for farm revolution India is looking at distant South America where countries have been able to ramp up food production with new technology and farming methods
- India looks at South America for farm revolution India is looking at distant South America where countries have been able to ramp up food production with new technology and farming methods
- Canada's Goldcorp to buy Andean for $3.2 bn The takeover is the latest in a series of mining deals this year, including Australia's Newcrest Mining's $8.4 bn purchase of rival Lihir Gold
- Pharma giant Roche starts cost-cutting programme Swiss pharmaceutical giant Roche said on Friday it was launching a cost-cutting programme which could lead to job cuts
- Merrill Lynch's Asia wealth mgmt chief to retire Antony Hung will retire after nearly 18 years with the bank and his successor will be announced soon, said a company memo
- Emerging markets must adopt new bank rules The head of the Basel Committee on Banking Supervision urged emerging market economies on Friday to adopt news rules on bank capital
- Euro's slide against Yen gives Germany an edge on rivals European companies tend to focus on the dollar exchange rate, because the US currency is the most important for world trade.
- Euro steady ahead of US jobs report The euro is barely changed against the dollar as markets focus on the upcoming release of a closely watched US jobs report.
- How to end the great recession No booster rocket can work unless consumers are able, at some point, to keep the economy moving on their own.
- BP Gulf of Mexico oil spill costs hit $8 bn BP said the cost of dealing with its oil spill in the Gulf of Mexico had risen to $8 bn and that it was a fortnight away from sealing the well for good
- Services PMI dips again in August but still robust Growth in India's service sector slowed for a second month in August after hitting a two-year peak in June, but businesses were more optimistic about the outlook, a survey showed on Friday.
- Food inflation at 10.86 pct y/y: Govt Food price index rose 10.86 percent and the fuel price index climbed 12.71 percent in the year to Aug. 21, government data released on Friday showed.
- Progress on Ranbaxy U.S. ban: Daiichi Sankyo It believes it has made progress towards lifting a U.S. ban on exports from Ranbaxy Laboratories' two plants in India
- 2009-10 stimulus worked; we need another round: Paul Krugman The actual lessons of 2009-2010 are that scare stories about stimulus are wrong, and that stimulus works when it is applied. But it wasn?t applied on a sufficient scale. And we need another round.
- Heavy in dollars, China warns of depreciation China offered a rare glimpse into its foreign exchange reserves, confirming that they are overwhelmingly allocated in dollars, while a central banker said the mountain of cash could face depreciation risks.
- No concern on capital inflows : RBI deputy gov There is no concern on capital flows into India as of now, K.C. Chakrabarty, deputy governor at the RBI, said on Friday
- Rupee near 2-week high on firm Asian peers The rupee rose to a near two-week high on Friday morning trade, boosted by gains in Asian peers and gains in domestic shares.
- Murdoch: Global economy is still not out of turmoil News Corp Chief Executive Rupert Murdoch said the global economy is still in an uncertain state and the media industry is going through a fundamental transformation that is unpredictable.
- Cos with captive mines to share profits with affected people The government is determined to implement a policy intended to give those displaced by mining a share in the profits of the miners despite a less than enthusiastic response from industry.
- Cos with captive mines to share profits with affected people The government is determined to implement a policy intended to give those displaced by mining a share in the profits of the miners despite a less than enthusiastic response from industry.
- White House: No second stimulus being considered The White House stressed on Thursday that no second economic stimulus package is being considered as part of new measures under review by President Barack Obama's team.
- Different price rise data make policy making tough: RBI study Even as RBI has been tightening monetary policy to attack inflation, a study by the central bank says various measurements of the rate of price rise in India make it difficult to frame policies, as all of them are volatile in nature.
- Rupee strengthens on hopes of lower trade gap Rupee strengthened for a second day on speculation an increase in foreign capital inflows into local shares will help offset a widening trade deficit.
- China, India urge stability of reserve currencies China and India urged stability in major reserve currencies and in nations? macro-economic policies to help cement the global recovery.
- Ailing PSUs may get lifeline through banks The government may throw a lifeline to ailing state-run firms by asking public sector banks to offer easy financing options.
- Ailing PSUs may get lifeline through banks The government may throw a lifeline to ailing state-run firms by asking public sector banks to offer easy financing options.
- Pawar pushes for sugar decontrol, presents case before prime minister Past attempts to remove government control on the sweetener have so far failed because of acute concerns over price fluctuations and food inflation.
- Sharma backs FDI in multi-brand retail, says opening up to create more jobs Retail sector is India's second largest employer after agriculture, with retail trade employing 35.06 million people.
- NBS policy fails to balance fertiliser uses Consumption of urea has increased in the first few months of the newly introduced Nutrient-based Subsidy (NBS) policy, quite contrary to expectation that the new policy would lead to a balanced use of fertilisers.
- India, China call for currency stability to achieve growth India and China on Thursday made a joint call for maintaining the relative stability of major currencies to achieve robust, sustainable and balanced global economic growth.
- Citi to support financial inclusion, microfinance in India Citigroup is keen to be a part of India's growth story and will continue to focus on microfinance and support initiatives in the areas of financial inclusion and education.
- Rupee higher on stocks, dollar; US data eyed The rupee rose on Thursday aided by the dollar losses against major currencies and other Asian units ahead of the European Central Bank's policy decision.
- FDI in retail to help unorganised sector, create jobs: Sharma Making a strong case for FDI in India's multi-brand retail, Indian Commerce and Industry Minister Anand Sharma has said that entry of global retail giants would help create millions of jobs and not weaken the unorganised sector as feared.
- Government starts anti-dumping probe into soda ash imports India has initiated a probe into alleged dumping of soda ash by countries like China, Iran and Pakistan to protect domestic players.
- Government starts anti-dumping probe into soda ash imports India has initiated a probe into alleged dumping of soda ash by countries like China, Iran and Pakistan to protect domestic players.
- India, China talk to step up economic cooperation India and China today held high- level comprehensive dialogue on a host of financial issues to identify areas of convergence to step up their cooperation
- Euro rises amid strong eurozone growth data The euro rose against the dollar on Thursday following strong eurozone growth data and ahead of key monetary policy announcements from the ECB.
- Rupee little changed; shares, dollar watched The rupee continued to trade marginally stronger on the back of the dollar's losses against major currencies and mild gains in the local sharemarket.
- Dollar, yen recover losses; ECB eyed The dollar and yen recovered losses on Thursday as risk-taking sentiment was tempered ahead of a ECB policy meeting later in the day.
- Swiss franc rises on strong Swiss growth data The Swiss franc jumped to a session-high against the euro on Thursday after strong Swiss growth data for the second quarter made a rate hike by the Swiss National Bank ahead of the ECB seem more likely.
- Dollar on defensive after data whets risk appetite The dollar was on the defensive on Thursday, retaining most of the losses sustained the previous day on upbeat data.
- Yuan climbs vs dollar, pre-depeg level seen as floor The yuan rose against the dollar on Thursday after the People's Bank of China fixed a stronger mid-point.
- Global crisis drives investors to forex markets The global economic crisis has driven investors to the forex markets where turnover has soared to a staggering four trillion dollars a day - equal to what Germany produces in a year.
- Rupee steadies after higher open; shares eyed The rupee was largely steady in early deals on Thursday, after opening slightly stronger, boosted by firm local shares and regional currencies.
- Rupee advances most since June on economic data The rupee gained the most in more than two months as strength in Asian economic data allayed concern the global recovery is faltering.
- Mumbai to get India's first multi-level automated car parks India's first robot-assisted multi-level car parks that can collectively accommodate over 1,100 vehicles will come up at two private commercial building projects in Mumbai.
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