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Wednesday, November 25, 2020

Hopes high on Obama,markets wobble

January 20, 2009 11:56:09 am

The first African-American to become US president will take his oath against the backdrop of drawn-out US and global downturn.

Govt sees ‘nexus’ between Satyam,Maytas

January 19, 2009 6:55:36 pm

Govt has said there appeared to be a 'nexus' between the fraud at outsourcer Satyam Computer Services and other firms.

Satyam clients have approached us: TCS

January 19, 2009 6:48:26 pm

TCS said some Satyam Computer clients have turned to the Tata company on their own.

US client cancels contract with Satyam

January 19, 2009 5:07:25 pm

State Farm Insurance Co has terminated its contract,a Satyam spokeswoman said,but she declined to give details of the contract.

ICICI Bank may cut rates in 45 days

January 19, 2009 5:04:37 pm

ICICI Bank said that interest rates are expected to come down in the next one-and-a-half months.

RBS to unveil up to $37 bn of losses: Report

January 19, 2009 10:57:33 am

Royal Bank of Scotland will unveil up to $37.30 billion of losses for 2008 on Monday.

Raju may have siphoned cash: Report

January 19, 2009 9:28:32 am

B Ramalinga Raju,the founder and former head of Satyam Computer Services may have skimmed huge amounts of cash from the company,rather than padded its books as he claims,according to a report in the 'New York Times' that cited a person involved in the Satyam investigation.

Satyam board’s minutes details Maytas decision

January 17, 2009 3:20:27 pm

Coinciding with the meeting of the new board of Satyam,the minutes of the December 16 meeting of the now disbanded board today became public,detailing the unanimous decision to acquire two Maytas firms that proved to be the nemesis of the IT company's founder Ramalinga Raju.

US retail giant Circuit City goes out of business

January 17, 2009 12:35:39 pm

Economic downturn leading tightening of consumer spending has forced bankrupt second largest electronic retailer in the US,Circuit City.

New Satyam board members to meet; shares surge 40%

January 16, 2009 6:12:16 pm

The new board of fraud-hit Satyam Computer Services will meet again on Saturday to look for ways to raise new funds. However,despite the crisis it is going through after its chariman Ramalinga Raju's disclosures,the stock price of the company has gained 40 per cent.

Bajaj Auto Q3 net crashes 22% at Rs 166 cr

January 16, 2009 2:49:15 pm

Hit by a massive sales slump,Bajaj Auto reported a 22.43 per cent decline in net profit for the quarter ended December 2008.

KPMG replaces PWC on Ficci’s FRAME

January 16, 2009 1:27:41 pm

PriceWaterhouse has lost its mandate as the knowledge partner for Ficci's flagship annual entertainment event -- FRAME.

Govt to adhere to latest borrowing schedule

January 16, 2009 11:54:43 am

The government on Friday said that it will stick to its borrowing schedule as drawn up in January for 2008-09,as of now.

BoA gets Govt aid,Citigroup shares drop

January 16, 2009 11:49:06 am

Bank of America Corp was rescued by the US government on Friday through a $20 billion bailout.

Oil prices mixed in Asian trade

January 16, 2009 11:45:53 am

World oil prices were mixed in Asian trade amid concerns over weak energy demand from countries hit by the global economic downturn.

Fuji Heavy cuts sales target,scraps new plant plan

January 16, 2009 9:51:22 am

Fuji Heavy Industries,the maker of Subaru-brand cars,said it lowered its 08-09 sales target to 555,000 units from 616,000.

SpiceJet CFO Basu resigns

January 16, 2009 9:38:11 am

Low cost carrier SpiceJet Ltd said on Friday its Chief Financial Officer Partha Sarthi Basu has resigned effective Jan 15,2009.

‘Satyam has not sought any govt financial help’

January 15, 2009 12:36:45 pm

Satyam has not sought any financial help from the govt and the board is working on reviving the company,Prem Chand Gupta said.

Maytas struggles to trade on bourses

January 15, 2009 11:15:52 am

Shares of Maytas fell by another 5 pct and got stuck at the lower circuit for 6th consecutive trading session.

Oil falls to $36.28 on demand outlook

January 15, 2009 9:50:08 am

Oil fell $1 and tipped closer to $36 a barrel,extending an overnight 1.3 per cent decline.

Barclays to lay off about 2,100 jobs: Report

January 14, 2009 3:14:09 pm

Financial services major Barclays is to reduce its headcount by about 2,100 in investment banking and money management.

Kingfisher defers Hong Kong,Singapore flights

January 14, 2009 9:29:49 am

Private air carrier Kingfisher Airlines has said it has deferred its proposed flights to Hong Kong and Singapore from here due to some technical reasons.

Morgan cuts India’s growth estimate

January 13, 2009 1:18:40 pm

The Indian economy may grow 6.7 per cent in the current fiscal year,Morgan Stanley said.

Satyam’s new Board to address liquidity crisis

January 13, 2009 11:43:39 am

The board would ask the clients to pay advance against dues to tide over immediate liquidity needs.

Infy sees no fallout from fraud at Satyam

January 13, 2009 10:37:06 am

Infosys said it was not seeing any fallout of the accounting fraud at rival Satyam Computer.