Updated from 11:34 a.m. ET Update: President Obama has instructed Tim Geithner to “pursue every legal avenue to block these bonuses” planned for AIG executive. It’s “hard to warrant any bonuses” at AIG and there is no way to “justify this outrage,&#822…

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WASHINGTON (AP) — President Barack Obama declared Monday that insurance giant American International Group is in financial straits because of “recklessness and greed” and said he intends to stop it from paying out millions in executive …

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London: The world economic crisis will be deeper and longer if government stimulus packages are too modest and states fail to take joint action to fix their banks, World Bank President Robert Zoellick said on …

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Nasdaq listed IT and outsourcing solutions major iGATE on Friday announced its interest in acquiring a 51-per cent stake in scam-hit Indian firm Satyam Computer Services by registering for a global auction. …

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The government should not fight the expansion of cities or the migration of people from villages, as that would amount to fighting prosperity, says the World Bank’s latest world development report on reshaping economic …

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Five pm today marked the deadline for all parties submitting Expression of Interest (EoI) for the fraud hit technology giant Satyam Computer Services Limited. The three bidders in the fray are Tech Mahindra, L&T and Spice Corporation; while HCL Tech and the Hindujas have chosen to st…

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NEW YORK: Veteran fund manager Mark Mobius sees a potential 20 percent rise in emerging market stocks in 2009 and views extreme investor pessimism as a signal to gradually start buying equities. “The danger we face now is being too pessimistic,” Mobius, the executive chairman …

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The next shock to the global economy, already reeling from recession, could come from China, which witnessed excessive ‘malinvestment’ during the boom years and where the investment structure is collapsing rapidly, says economist and Asianomics founder Jim Walker. …

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The January Index of Industrial Production (IIP) number has come in at -0.5% versus -0.6% in December 2008. The December figure of -2.2% has now been revised to -0.6%. The year-on-year comparison: the January 2008 figure stood at 6.18%. …

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No liabilities to be shared. The Satyam board may present prospective bidders for the troubled Satyam Computer Services with operating statements for two quarters — October-December 2008 and January-March 2009 — to help them arrive at a decision. …

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