|
|
|
Expansion Drives NTPC Higher, Sensex Up
Mar 14, 10:46 PM EDT |
|
| NTPC, the largest power company expects to spend 13,000 crore rupees and add 2,700 MW power capacity this year. |
|
| At the end of the last week in February, annualized inflation rose to 5.11%, a decline from 6.5% a year ago but an increase from 5.02% at the end of the previous week. The cost of fuel and manufactured items played a key role in the inflation increase. Finance minister P. Chidambaram reiterated that the economy will grow at 8.5% despite global financial markets volatility. |
|
|
Full Story... |
Libor Rate Up, Banks Fall
Mar 14, 9:49 PM EDT |
|
| libor rate of interest rate increased to 5.93% after the news of emergency funding to Bear Stearns. Credit markets are likely to remain tight. |
|
| UK banks and financial stocks fell sharply after the Fed orchestrated emergency loan to the fifth largest investment bank Bear Stearns. The stock of the investment bank traded as low as 50% during the day in New York trading. FTSE 100 index fell 1.07% or 60.7 to 5,631.70. |
|
|
Full Story... |
Bear Stearns Plunges 49%
Mar 14, 10:52 AM EDT |
|
| Bear Stearns Plunges after it agreed to a secured credit facility with JP Morgan, after denying rumors for weeks that it faces capital crunch. |
|
| Bear Stearns plunges 49% in the morning trading after it agreed for a secured credit facility with JP Morgan. The company in a press release said that its capital position has deteriorated in last 24 hours and is working with JP Morgan to arrange for a permanent financing. The emergency financing arranged with the help of the New York Fed suggests the gravity of th situations. The news also dragged Lehman Brothers stock lower by 10%. |
|
|
Full Story... |
Strength in Yen Lowers Growth in Japan
Mar 14, 9:26 AM EDT |
|
| Investors in Japan are facing a mix of strength in yen, lack of growth in exports, and rising food and energy prices. |
|
| Investors are increasingly grappling with a possibility of a recession in Japan if the U.S. demand for Japanese goods keeps falling. Japan, which relies on exports for most of its economic growth, may be the first nation to enter into a recession following the U.S. Most economists believe that the U.S. is already into a recession. Rising yen against the dollar will hurt corporate profits and inflation in food and energy prices will crimp disposable income. |
|
|
Full Story... |
NY Rebounds, Sharp Decline in Asia and Europe
Mar 14, 8:04 PM EDT |
|
| Market averages in the New York trading recovered but European and Asian markets continued to slide. GM and Lehman reported earings. |
|
| Stocks in New York trading recovered at close after hitting their lows at mid-day. Smaller than expected current account deficit data failed to counter the worries related to sub-prime lending. Lehman Bros reported first quarter earnings of $1.96 per share compared to $1.83 per share. The company said that its exposure to subprime ledning is well contained. General Motors reported prift in the fourth quarter on GMAC sale. Asian and European markets dropped more than 2%. |
|
|
Full Story... |
1
 |
|
