Markets in Asia and Europe fell sharply after the US senate rejected a $14 billion (Rs68,180 crore) rescue plan for auto makers. With large auto companies now headed towards bankruptcy, the world economy would be further damaged. …

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Steel Authority of India (SAIL), the country’s largest steel producer, today said it has entered into an agreement with the Kerala government to acquire up to 50 per cent stake in state-run Steel Complex for Rs 8.38 crore.The target firm is a government of Kerala undertaking and wil…

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Harare: Zimbabwe’s central bank Friday introduced a $500 million note, as the African country struggles to cope with the world’s highest inflation and crippling currency shortages. Finance minister Samuel Mumbengegwi announced the new bills in a government gazette, bringing to 29 the …

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Mumbai: Foreign telecom firms are talking to Reliance Communications about taking a stake of 20 to 26% in India’s second-largest mobile operator, the Economic Times reported, citing a banking source with knowledge of the discussions. …

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MUMBAI: It was a day of consolidation for benchmarks after a stupendous rally of over 5 per cent in previous trade. Broader indices ended a choppy session on a flat note. Market found support in rate sensitives like realty and banks following the financial stimulus. Shares of metal compa…

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Mumbai: Investor Rakesh Jhunjhunwala, who predicted Indian stocks would fall two months before the benchmark sensitive index peaked in January, says the worst may be over for Asia’s fourth biggest equity market. …

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The Mumbai terror attacks may derail Reliance Industries’ (RIL) plans to start natural gas production from its eastern offshore D6 field from January 2009, as several ex-pats have refused to return to India citing safety reasons. The gigantic $5.2 billion project that may almost wi…

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MUMBAI: Kotak Securities on Wednesday launched a new service styled as Smart Order which will help clients buy and sell stocks at the best possible rates from either of the stock exchanges – BSE or NSE. Once a customer selects Smart Order to buy or sell, it executes the order at the be…

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WASHINGTON (AP) – Skittish employers slashed 533,000 jobs in November, the most in 34 years, catapulting the unemployment rate to 6.7 percent, dramatic proof the country is careening deeper into recession.The new figures, released by the Labor Department Friday, showed the crucial e…

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Honda Motor will cut 760 temporary jobs at its domestic plants by the end of January due to weak demand in North America and Europe, a spokesman said today.Honda President Takeo Fukui said there may be more job cuts next year among the number two Japanese automaker’s roughly 4,000 t…

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