| BUSINESS STANDARD |
Thu, 20 Nov 2008 |
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BUSINESS STANDARD
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Re down 30 paise vs $ in early trades
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The Indian rupee fell by 30 paise against the US currency to Rs 50.50 in early trade today on heavy outflows of foreign funds amid melting Asian equity markets.
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Honda to cut production by another 18,000 vehicles
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Honda Motor Co said it will cut its North American production by another 18,000 vehicles, citing the industry wide drop in demand for new vehicles.
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Bank of New York Mellon to cut 1,800 jobs
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The Bank of New York Mellon Corp said it will cut its worldwide work force by 4 per cent, or about 1,800 jobs, blaming the weak global economy.
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US news agency AP to cut staff by 10%
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The US news agency the Associated Press plans to reduce its staff by 10 per cent by some point in 2009, mostly through attrition, AP president and chief executive Tom Curley said.
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Oil prices fall further below $50-mark
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World oil prices fell further below $50 today - near levels unseen in more than three years - on growing fears that a worldwide recession could ravage energy demand, analysts said.
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Asian markets heading south again, Nikkei down 171pts
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Asian markets are down around 1-3% each following negative cues from the Wall Street.
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FIIs net sell Rs 874 cr in F on Thursday
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The Foreign institutional investors (FIIs) were net sellers of Rs 874.12 crore in the futures & options segment on Thursday.
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F Outlook: Weak rollovers indicate indecisiveness
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The Nifty bounced back from the days low of 2,495 and closed at 2,554, much above the support level of 2,520, on short covering at lower levels.
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Tech view: Bullish pivot seen at 2585
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The markets dived yet again as the bull sha-keout pattern advocated yesterday had its anticipated impact.
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Wall St plunges again; ADRs slide
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Stocks plunged for a second straight day, falling to levels not seen in at least five years as financial and energy stocks tumbled while demand for the safety of government debt spiked.
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No plan to stop short-selling: Sebi
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Securities and Exchange Board of India (Sebi), today ruled out stopping short-selling as it has no evidence that short-selling is driving the market down, a top official said.
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Inflation declines to 8.9%, RBI may cut rates
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Inflation, measured by movement in wholesale prices has further declined to 8.90 per cent for the week ended November 8 from 8.98 per cent a week ago mainly on account of drop in prices of fuel items,
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Future Group eyes Rs 10,000 cr revenue by 2012
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Kishore Biyani-led Future Group plans to expand its FMCG, consumer durables, apparels and electronics line of businesses and is aiming to clock a revenue of Rs 10,000 crore by 2012.??"We already
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OVL to make offer for Imperial shares by Dec 9
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ONGC Videsh, the overseas arm of state-run Oil and Natural Gas Corporation (ONGC), will make an offer to acquire shares of UK-listed Imperial Energy Corp Plc, at 12.50 pounds a share by December
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Govt approves higher pay for PSU employees
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The Union Cabinet today approved an average 67 per cent hike in wages of 1.6 million employee of public sector companies (PSU), with effect from January 1, 2007, said Heavy Industries Secretary R
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CCEA okays Nelp VII award, to attract $1.5 bn investment
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The Cabinet Committee on Economic Affairs (CCEA) today approved the award of 44 oil and gas exploration blocks, which is expected to attract investments of $1.5 billion.
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Rolls-Royce plans to cut 2,000 job in 2009
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Rolls-Royce Group PLC said today it plans to cut up to 2,000 jobs next year as demand for its products slumps amid the global economic downturn.
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TV strike to continue as worker's body goes back on MoU
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Over 80-million cable and satellite homes may continue to watch the re-runs of old television shows for some more days as the Federation of Western Indian Cine Employees (FWICE), the body representing
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No evidence of manipulative trading in ICICI shares: Sebi
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Market regulator Securities and Exchange Board of India (Sebi) today said it did not find evidence of manipulative trading in shares of ICICI Bank, which had demanded a probe by the watchdog after its
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No fuel price cut for now: Petroleum Secy
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The government is not considering reducing prices of petrol and diesel, planning to use the profits earned on the two auto fuels to make up for part of the hefty losses on sale of domestic LPG and PDS
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