The boards of two Anil Ambani-led power majors, Reliance Natural Resources and Reliance Power, on Sunday approved the merger of the two companies in a 4:1 share swap ratio. RNRL shareholders will get one Reliance Power shares for every four held. However, the exchange ratio will be based…

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New Delhi: Hindustan Media Ventures Ltd, publisher of Hindi daily Hindustan, has fixed the price band of its initial public offer (IPO) at Rs 162-175 a share. The IPO, through which the media house plans to raise up to Rs 270 crore, will open on July 5 and close on July 7. The company i…

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In talks with banks to secure a $5-billion credit line General Motors Co plans to file its nearly $20-billion initial public offering (IPO) in mid-August, a source familiar with the situation said on Friday, later than some expected as bankers work to help sort out the auto maker’s fin…

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Economies worldwide have been failing to recover, after the Greece and Europe debt issues, now comes the lowest employment by private companies in U.S, it fell for the first time this year as thousands of temporary census jobs ended. Private hiring rose 83,000 after increasing only 33,00…

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Rs 1,366-crore sale will help the bank meet new promoter shareholding norm. Kotak Mahindra Bank will sell 4.5 per cent equity to Sumitomo Mitsui Banking Corp for Rs 1,366 crore, a move that will help the bank boost its capital adequacy and meet a Reserve Bank of India requirement on prom…

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Markets likely to see a gap down opening. Support for nifty is at 5180. Sell Mphasis below 545 for a target of 533. Stoploss at 553.. Update – On account of Half Yearly Bank closing on 01/07/2010, there will be no pay in /payout of Securities and funds, Securities bought in today�…

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Commentary: The truth about jobs, the market and U.S. socialism The counter-revolution is underway. The G-20 calls for members to slash their budget deficits. The U.S. Senate ices further aid for the unemployed. The head of the Business Roundtable slams President Obama for undermining A…

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NEW YORK (AP) — Stocks and interest rates are extending their losses after consumer confidence dropped because of concerns about the economy. The Conference Board says Tuesday its Consumer Confidence Index fell nearly 10 points to 52.9, down from a revised 62.7 in May. Economists h…

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BANGKOK (AP) — Asian markets slid Tuesday as a mammoth share sale in China dragged Shanghai stocks down more than 3 percent and investors trimmed bets before the release of crucial indicators from the world’s two biggest economies. Investors were wary of riskier assets like s…

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Anil Ambani group today announced a Rs 50,000-cr deal to merge its telecom tower business with GTL infrastructure, a move that would help RCom cut down its debts by more than half. The Boards of RCom, its subsidiary Reliance Infratel Ltd. And GTL Infrastructure today in-principle approve…

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