Credit Suisse cuts India FY13, FY14 growth forecasts on delayed RBI response
Mumbai: Credit Suisse has lowered India’s economic growth forecast marginally to 5.9 per cent from 6 percent for the fiscal year ending March. The investment bank also reduced its growth forecast for FY14 to 6.9 percent from 7.2 percent, it said in a research note. “This largely reflects the delayed RBI rate response, although we continue More...
After ‘racist’ row, Lakshmi Mittal inks deal with France
Paris: The French government backed away on Friday from a threat to nationalise a steelworks, saying it secured promises from the owner, ArcelorMittal, to invest and avoid any forced layoffs at the site where the More...
Subbarao overruled advisory panel, kept repo rate steady
Mumbai: Reserve Bank of India Governor D Subbarao went against the suggestion of majority of external members of the RBI’s advisory panel that advised lowering the repo rate in the second quarter review of monetary More...
Citigroup to pay Vikram Pandit $15.5 mn
Citigroup said it will pay $15.5 million to Vikram Pandit, its former chief executive who resigned from company last month, as well as to his top deputy. The bank said on Friday the payments to Pandit and former More...
Services PMI slows to 6-mth low: HSBC
New Delhi: India’s services sector slowed in October – registering the slowest pace of growth since April – amid decline in new orders and hiring levels, an HSBC survey said. The HSBC’s Services More...
Maruti Suzuki sales up 85% in Oct
New Delhi: The country’s largest car maker Maruti Suzuki India (MSI) today reported 85.46 per cent increase in total sales at 1,03,108 units in October. The company had sold 55,595 units in the same month More...
‘I lost my reputation’, says Rajat Gupta
New Delhi: A devastated India-born former Goldman Sachs director Rajat Gupta, who was sentenced today for insider trading crimes, said he has lost his reputation built over a lifetime and apologised to his family More...
Sensex flat; Reliance, Hero MotoCorp gain
The BSE Sensex traded flat even though Asian shares edged higher on Thursday. Trading is expected to be volatile given October derivative contracts expire at the end of the session. At 10.10 a.m., the Sensex traded More...
UK Firms: Investors earn record dividends
London: UK firms handed out record dividends in the last quarter and are on track for annual all-time high payouts as they look to keep investors sweet in the face of faltering earnings growth, Capita Registrars More...
China economy slows for 7th quarter
Beijing: China’s mammoth economy slowed for a seventh straight quarter in July-September, missing the government’s target for the first time since the depths of the global financial crisis. However, More...
