Citigroup to sell Japanese brokerage

Citi apparently had plans to keep Nikko, according to the report. The Japanese brokerage was not included in a deal announced Tuesday to spin off another of Citi's major brokerage units, Smith Barney, in a joint venture with Morgan Stanley

CITI results

Citi loss sharing program covers $301B of assets

Citi to split global bank from brokerage, asset mgmt unit

Citigroup Q4 loss from continuing ops. $12.14B

Citigroup Q4 net loss $8.29B

Bank of America writedowns

Merrill wrote down $1.92B on loans, $1.13B on real estate

Merrill losses include $2.31 goodwill charge

Merrill losses included $3.22B monoline write-down

USA Industrial Production

U.S. Dec. industrial production down 2%, down 11.5% in Q4

U.S. Dec. industrial production down 2.0% vs down 1.2% est.

U.S. Dec. capacity utilization 73.6% vs 75.2% in Nov

U.S. Nov. industrial production down rev 1.3% vs down 0.6% p

U.S. Q4 industrial production down 11.5%

U.S. industrial production down 1.8% in 2008

U.S. Sept. capacity utilization lowest since Dec. '01

global layoffs

Swiss bank UBS AG plans to cut around 5,000 jobs this year, Swiss weekly Sonntag reports Sunday.

Circuit City Stores Inc to layoff 30000 jobs

Rio Tinto Ltd.has cut up to 600 staff from its Perth office in the state of Western Australia

Hertz Global Holdings Inc.will slash 4,000 jobs, or almost 14% of its workforce

Advanced Micro Devices Inc. said Friday that it plans to cut its workforce by 9%, or roughly 1,100 positions

GE Capital could be facing a headcount reduction of 7,500 to 11,000 jobs,

Pfizer Inc. plans to lay off as many as 2,400 salespeople in the U.S

'IT sector growth could go below 20% as meltdown continues'

In the context of the Satyam fraud rattling the Indian software industry, FE's Rupsa Ray talked to Ganesh Natarajan chairman, Nasscom and global CEO, Zensar Technologies, to get the IT apex body's views on the recent events.

Satyam looks for new name to get rid of brand stigma

Satyam Computer Services Ltd is mulling a change of name. The exercise to find a new name has been kicked off in the company as the present name has a serious brand problem, key officials feel.

Ghajini' gross Rs 200 crores at the box office world-wide

Bollywood superstar Aamir Khan-starrer 'Ghajini' has become India's first Hindi flick to gross Rs 200 crores at the box office worldwide.

The flick has broken many past records of Bollywood by achieving this mark in little less than two weeks. 'Ghajini' has done robust business in overseas market as well.

Elecon Engineering won Rs 185 million order

Engineering Company, India's largest manufacturer of mechanical handling equipment has announced that it has secured Rs 185 million order from Chennai-based Techpro Systems.

The contract has been awarded for designing, engineering, manufacturing, testing, supplying, erectioning and commissioning of material handling and other equipments.

IDFC Projects To Set Up Thermal & Solar Plants In Gujarat

Infrastructure Development Finance Co Ltd announced that its unit IDFC Projects Ltd has signed two MoUs with Gujarat State Energy Company (GSECL) and Bharat Heavy Electricals (BHEL) to set up a 1600 Mw thermal power plant at Sarkhadi based on supercritical technology.

Binani Cement to set up new cement plant in Gujarat

Binani Cement would set up a new cement plant worth Rs 825 crore in Gujarat. The green field cement plant would be designed with annual production capacity of
2.5-million tonne.

Ansal Housing launches “Ansal Grace” in Jammu

Ansal Housing & Construction Ltd, a leading real estate developer has launched a new Group Housing Project named "Ansal Grace", at Jammu (J&K).

The newly launched housing project is situated at Jammu Srinagar Kunjuwani Bypass Road, near Sainik Colony at Jammu (J&K).

ONGC inks MoU with Australia’s Arrow Energy

The state-run Oil and Natural Gas Corp (ONGC) has signed a Memorandum of Understanding with Australia's Arrow Energy for corporation in Coal-bed Methane Sector.

Arrow Energy Ltd Group is a leading Australian integrated energy company focused on the development of CBM.

Punj Lloyd JV picks contract worth Rs 131.11 crore

Punj Lloyd Group, a diversified global conglomerate providing Engineering & Construction services in Oil & Gas, Infrastructure and Petrochemicals, in 60:40 joint venture with Public Works Company Tripoli has bagged a new contract worth Rs 131.11 crore for the execution of utilities in Souk Al Juma, Tripoli, Libya.

UCO Bank to raise Rs 1400 crore

State-run UCO Bank, formerly United Commercial Bank, has decided to raise Rs 1,400 crore from debt in the next three months.

The bank plans to raise Rs 700 crore from tier-1 bonds and remaining Rs 700 crore from upper tier-2 bonds by March end.

The bank officials stated that the funds raised will increase the capital adequacy ratio from 11.62 per cent in December to 12 per cent.

MetLife India opens 12 new branch offices in Kerala

Insurance major MetLife India Insurance Company has announced the opening of 12 new branch offices in Kerala, under its countrywide expansion plan.

With latest expansion MetLife, which is one of India's largest growing insurance companies, has increased its presence in 13 of the 14 districts in Kerala. The company has now established a network of 27 branches across 23 cities in Kerala.

Omaxe to launch 10,000 low-cost homes in Indore

Omaxe Limited, India’s leading real estate developers has informed that the company will launch 10,000 low-cost homes in Indore next month, which would be developed at about Rs 1,000 crore.

According to the sources, the company will launch the flats in the range of Rs 4-10 lakh, in February at a 200-acre township.

Plethico Pharma signs accord with Molekule Pvt. Ltd

global pharmaceutical company with a strong emphasis on herbal and neutralceutical segments, Plethico Pharmaceuticals Ltd, has entered into a tie up with Pharmaceutical MNC Molekule (India) Pvt. Ltd., for marketing some of Natrol's brands in India.

Mumbai-based Molekule Pvt. Ltd is a leading pharmaceutical company having aggressive marketing and distribution network across the country.

L&T has signed a MoU with US-based Westinghouse Electric Company

Larsen & Toubro, India's largest engineering and construction conglomerate has signed a memorandum of understanding (MoU) with US-based Westinghouse Electric Company to build 1,000 MegaWatt nuclear plants in India.

BSNL Signs MoU With TN Varsity

Madurai-based BSNL’s unit has signed up a tie-up with the Bharathiar University (BU) in order to provide Higher Education to its staff as well as clients at concessional rate.

SBI to defer further lending to Maytas

State Bank of India, which has an exposure of Rs 5 billion to Raju family-promoted two Maytas firms, has said it has deferred any further lending until there is clarity on the status of the companies, which are under scanner due to Satyam-scam.

Nalco likely to pick majority stake in Indonesia mining firms

Nalco is set to pick up majority stakes in two Indonesian mining firms at an estimated investment of Rs 3 billion.