The Reserve Bank of India today said that higher bond yields, the result of higher government borrowings, had militated against the low interest regime required to spur private sector investments. This is the first statement from the central bank

he issue likely to be launched in mid-August L&T Finance Ltd, a wholly-owned subsidiary of Larsen and Toubro, has decided to issue non-convertible debentures (NCDs) to raise funds to the tune of Rs 1,000 crore. The financial services and asset management

U.S. Steel Corp reported its second consecutive quarterly loss on Tuesday and said it expected all three of its business sectors to operate in the red in the third quarter. The company, which has been operating at less than half capacity since the

It is reported that the price increasing of Chinese cold rolled steel coil has slowed down somehow this week. It is said the market demands more time to accept the mills intensive price hikes and therefore market transactions are not active at the

Statistics Canada said Tuesday that a record 778,700 people received regular Employment Insurance (EI) benefits in May. EI claims were up 65,600, or 9.2%, from a month earlier, with Alberta and Ontario showing the fastest rates of increase. This rise

Spains central government budget deficit was EUR 38.6 billion between January and June, the Economy Ministry said Tuesday. It accounts for 3.64% of GDP. A year ago, there was a deficit of EUR 4.6 billion in the same period. Under EU rules, current and

BP Plc, Europe’s second-biggest oil company, said profit fell 53 percent on lower energy prices and there is “little evidence” of a recovery in demand. Second-quarter net income fell to $4.39 billion, or 23.16 cents a share, from $9.36 billion, or 49.23

The European single currency fell back Tuesday after hitting a two-month high above 1.43 dollars as the market reacted to a fall in US consumer confidence dragged down by a weak job market. In late afternoon London trade, the euro rose to 1.4304 dollars

US computer giant IBM announced on Tuesday that it has agreed to buy business analytics software firm SPSS for 1.2 billion dollars in an all-cash deal. IBMs has offered the Chicago-based company 50 dollars a share, a more than 40 percent premium over

Till now, India has been the global giant in gold consumption. Indian housewives and families across the country bought gold jewelleries as an investment and also to wear during functions and festivals. The traditional Indian wisdom has always advised

The Global Depository Receipts of three Indian companies - Tata Steel, Tata Power and Suzlon Energy - worth $943 million (about Rs 4,540 crore) have started trading on the depository receipts platform of the London Stock Exchange. Tata group firms - Tata

A seven-month review by Bank of America Corp. of customer usage patterns shows less and less dependence on traditional outlets, the banks head of consumer and small-business banking said Tuesday. Customers are "using virtual channels more and more

Valero Energy Corp. swung to a second-quarter loss as a strategy to process heavier grades of crude oil backfired amid falling sales volume and prices. In addition, diesel and jet fuel profit margins were weak.

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