Thursday, January 22, 2009
Russia's international reserves tumble by $30.3 billion
Russia's international reserves tumbled by $30.3 billion to stand at $396.20 billion during the week ended Jan. 16, the Russian central bank reported Thursday. Analysts at Brown Brothers Harriman & Co. said that the "the drop in reserves, which brought total holdings under $400 billion for the first since 2007, occurred as the Russian central bank aggressively intervened to defend the ruble and amidst ongoing capital outflows
USA economic data
U.S. Dec. housing starts fall 15.5% to 550,000 annual rate
U.S. Dec. building permits fall 10.7% to 549,000 annual rate
U.S. single-family permits fall 12.3% to record-low 363,000
U.S. 2008 housing starts fall 33% to record-low 904,000
U.S. 2008 building permits fall 36% to record-low 892,500
U.S. Dec. housing starts at 550,000 are lowest on record
U.S. Dec. housing starts weaker than 600,000 expected
U.S. Dec. housing completions fall 5.2% to 1.02 million pace
U.S. weekly initial jobless claims rise 62,000 to 589,000
U.S. 4-week average initial claims unchanged at 519,250
U.S. Dec. building permits fall 10.7% to 549,000 annual rate
U.S. single-family permits fall 12.3% to record-low 363,000
U.S. 2008 housing starts fall 33% to record-low 904,000
U.S. 2008 building permits fall 36% to record-low 892,500
U.S. Dec. housing starts at 550,000 are lowest on record
U.S. Dec. housing starts weaker than 600,000 expected
U.S. Dec. housing completions fall 5.2% to 1.02 million pace
U.S. weekly initial jobless claims rise 62,000 to 589,000
U.S. 4-week average initial claims unchanged at 519,250
U.S. continuing jobless claims rise 97,000 to 4.61 million
U.S. 4-week avg continuing claims up 58,750 to 4.56 million
Satyam fiasco like 26/11, difficult to stop: LIC
The Satyam scam was so sudden and severe that even the best brains could not have stopped it, just like the terror attacks in Mumbai, the IT firm's major shareholder LIC said on Thursday.
"It can be equated with terrorists sneaking into Mumbai and killing hundreds of persons and nobody with the best of preparations could have prevented it," LIC Chairman T S Vijayan said.
LIC had 4% stake in SATYAM
L&T inks MoU with Canadian Co for ACR 1000 reactors
Larsen and Toubro (L&T) announced that it has inked an Memorandum of Understanding (MoU) with Canadian based company, Atomic Energy of Canada (AECL) for co-operation on advanced CANDU Reactor ACR 1000.
Inflation rises to 5.60%
ndia`s benchmark wholesale price index (WPI), inflation rose marginally to stand at 5.60% for the week ended Jan. 10, 2009 as against 5.24% a week ago
HCC arm to set up Asia`s first space edutainment centre
India`s first and largest hill station being developed by Hindustan Construction Company (HCC)- Lavasa Corporation has entered into an agreement with Space Investment (SIC), to build and manage SpaceWorld, Asia`s first hi-tech centre for space edutainment with an investment of Rs 4 billion.
The 65-acre SpaceWorld will come up along the backwaters of the Warasgaon dam at Lavasa near Pune. SpaceWorld at Lavasa will be operational by the end of 2010.
Bharti Airtel plans USD 5 bn capex for 2009-10
Bharti Airtel has set aside around USD 5 billion as capital expenditure (capex) for mobile services and infrastructure business for the next financial year,
Maytas Infra`s announcement of Q3 results likely to defer
Maytas Infra announced that the official registrar of companies and serious fraud investigation office, ministry of corporate affairs, are inspecting the books of accounts of the company under section 209A of the Companies Act, 1956.
During the course of inspection of the books of accounts of the company, the inspectors have sought for certain information and documents relating to the last 8 financial years.
Max New York Life, 3i Infotech form strategic alliance
Max New York Life Insurance has announced a strategic partnership with 3i Infotech to market its Max Vijay Insurance Savings box and develop its reach to consumers in remote rural areas, via 12,500 I-SERV stores across nine states of Haryana, Uttar Pradesh, Madhya Pradesh, Gujarat, Maharashtra, Goa, Andhra Pradesh, Tamil Nadu and Delhi,
China's economic growth eases sharply
Gross domestic product expanded 6.8% in the October-to-December period, compared to a year ago, easing from a 9% expansion in the preceding three-month period, according to data released by the National Bureau of Statistics Thursday.
Germany economy to shrink by 2.25% in 2009
Germany economy is predicted to contract by 2.25% in the year 2009, which would be its worst performance in the post-World War II era. Germany`s economy accounts for about a third of euro zone output.
BT Group warns again on global services unit
Shares of U.K. telecoms giant BT Group fell as much as 15% on Thursday after it said profit at its global services unit had tumbled in the third quarter and that it would have to take charges of 340 million pounds ($471 million) to sort out the division.
Japan exports decline sharply in December
Japanese exports fell by a larger-than-expected 35% in December, the biggest fall on record, stoking concerns that firms could accelerate layoffs and idle production as the global recession deepens.
Exports totaled 4.833 trillion yen ($54.15 billion), down from 7.434 trillion yen a year earlier, according to provisional figures released Thursday by the Finance Ministry. Imports as shrank 21.5% to 5.153 trillion yen,
Exports totaled 4.833 trillion yen ($54.15 billion), down from 7.434 trillion yen a year earlier, according to provisional figures released Thursday by the Finance Ministry. Imports as shrank 21.5% to 5.153 trillion yen,
Fifth Third reports $2.2 billion loss after goodwill charge
Fifth Third Bancorp on Thursday said it swung to a fourth-quarter net loss of $2.18 billion, or $3.82 a share from a profit of $16 million, or 3 cents a share, a year earlier.
SunTrust swings to loss as charge-offs rise
SunTrust Banks Inc the $189.3-billion-asset Atlanta banking firm, swung to a fourth-quarter loss from a year-earlier profit, as loan charge-offs increased and it added to reserves
AIG kicks off sale of Asia unit, report says
American International Group is kicking off the sale of its Asian life assurance unit in hopes of raising up to $20 billion, the Financial Times reported Wednesday. AIG sent sales memorandum out to bidders including China Life , HSBC Holdings Prudential plc and Prudential Financial . The two Prudentials share the same name but aren't affiliated.
US Builders' confidence hits another low
The home builders' monthly index fell to a record low of 8 in January from 9 in December, the National Association of Home Builders said. At its current level, the index shows that approximately one of every 12 builders believes the market is good.
U.S. home builders became even more pessimistic about the housing market in January, according to a survey conducted by an industry trade group released Wednesday.
U.S. home builders became even more pessimistic about the housing market in January, according to a survey conducted by an industry trade group released Wednesday.
U.S. loan losses, write-downs to reach $3.6 trillion
Loan losses plus write-downs of U.S. securitized assets -- including the pooled mortgages that triggered the ongoing financial crisis -- will reach $3.6 trillion, with U.S. banks exposed to about half of that mammoth sum, said Nouriel Roubini's RGE Monitor Wednesday.
microsoft
Microsoft is expected to post a quarterly profit that misses its own target and announce thousands of job cuts(13000) this week as the global economic slump hurts even the technology industry's biggest players
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