UK economic data

U.K. jobless claims up 77,900 in December

U.K. unemployment in November was 6.1%

U.K. December jobless claims up for 11th month

Petron Engineering bags Rs 87.20 mn order

Mumbai-based Petron Engineering Construction announced that it has bagged an order worth Rs 87.20 million from Lanco Infratech.

The order is for Lanco`s complete package of electrical erection for their 366 mega watt (MW) combined cycle power plant- stage II at Kondapalliida, District Krishna, A.P.

Kilburn Eng. bags Rs 111 mn order from Tata Chem

Kilburn Engineering has secured a contract worth Rs 111 million from Tata Chemical, Mithapur, Gujarat for supply of Calciner.

Further, the company has also received orders from Tea Estates / Rice Mills for supply of Tea / paddy dryers worth Rs 108 million.

Microsoft expected to cut jobs as profit weakens

Microsoft Corp is expected to post a quarterly profit that misses its own target and announce thousands of job cuts this week as the global economic slump hurts even the technology industry's biggest players.

Satyam searching for emergency funding

U.S.-based insurer State Farm Insurance has terminated its contract with the firm and some others are believed to be reviewing their service contracts. Satyam's clients include such giants as Nestle and General Electric.

India's largest-ever corporate scandal has cast a shadow over the country's outsourcing sector, which was already struggling with slowing growth due to global financial turmoil.

The new board of embattled Indian outsourcer Satyam Computer Services is working to secure emergency funding for the firm and will consider appointing a banker for the rescue effort, a board member said.