Obama signs debt bill but hardly happy with deal

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• Obama signs debt bill but hardly happy with deal
• Polaris eyes $100mn sales in five years
• DLF Q1 net falls 13%
• US Senate clears debt plan to avert default
• Danone to buy Wockhardt's nutrition biz
• Cognizant replaces Wipro as No. 3 IT co
• Airtel hangs up on Champions League
• HDFC raises home loan rates by 50 bps
• China bogey holds up FDI in retail
• IMF welcomes US debt and deficit pact
• Apollo PE in talks for $100 million Gati stake
• US Senate passes bill to prevent default
• Dabur enters fruit-based fizzy drinks mart
• HDFC hikes lending rate by 50 basis points
• No large-scale job cuts in India, says HSBC
• Sensex falls 204 points to 5-week low
• Mukesh Ambani could face probe over his luxury home
• Toyota raises forecasts despite profit slump
• Tata Motors to rejig dealerships to counter declining sales
• Barclays to cut 3,000 jobs
• Barclays cut 1,400 jobs in H1, more to go in H2
• Sensex down 180 points on growth concerns
• China state media says US debt deal 'hiding risks'
• Fifty top corporate CEOs to meet in Mumbai
• Sensex down 129 points on growth concerns

Obama signs debt bill but hardly happy with deal Posted: 02 Aug 2011 07:36 PM PDT President Barack Obama signed emergency debt-limit legislation to avoid an unprecedented national default that he said would have devastated the US economy, closing out months of rancorous debate that nearly paralyzed Washington.

Polaris eyes $100mn sales in five years Posted: 02 Aug 2011 06:23 PM PDT Financial technology company Polaris Software Lab hopes to earn $100 million in five years by offering its core banking solution (CBS) and other software on a cloud computing basis, said a company official Tuesday.

DLF Q1 net falls 13% Posted: 02 Aug 2011 06:09 PM PDT DLF, the country's largest real estate company, on Tuesday reported a 12.8% decline in its consolidated net profit for the first quarter ended June 30.

US Senate clears debt plan to avert default Posted: 02 Aug 2011 06:04 PM PDT The Senate put an end to months of partisan impasse on Tuesday, passing a landmark budget agreement to raise the debt ceiling.

Danone to buy Wockhardt's nutrition biz Posted: 02 Aug 2011 05:59 PM PDT French dairy and nutrition major Danone will acquire the nutrition business of Wockhardt Group for 250 million euros (about Rs 1,575 crore), paving the way for its entry into the baby and medical nutrition markets in India.

Cognizant replaces Wipro as No. 3 IT co Posted: 02 Aug 2011 05:54 PM PDT Cognizant said on Tuesday that its revenue rose 34.4% to $1.49 billion in the quarter ended June, and in the process displaced Wipro Technologies as India's No. 3 IT firm in terms of revenue.

Airtel hangs up on Champions League Posted: 02 Aug 2011 05:53 PM PDT Bharti Airtel, India's largest mobile service provider, has walked out of the title sponsorship of Champions League Twenty20 three years three years before the endorsement deal ends.

HDFC raises home loan rates by 50 bps Posted: 02 Aug 2011 05:52 PM PDT Mumbai:The existing home loan customers of mortgage major Housing Development Finance Company (HDFC) should prepare themselves to pay higher EMIs.

China bogey holds up FDI in retail Posted: 02 Aug 2011 05:48 PM PDT At least two ministries have raised fears of Chinese goods flooding shelves in retail chains if the doors are opened to foreign players to set up multi-brand stores in the country.

IMF welcomes US debt and deficit pact Posted: 02 Aug 2011 03:55 PM PDT IMF chief Christine Lagarde has applauded the US plan to raise its debt ceiling and cut its deficit signed, but called for US finances to be placed on "a sustainable path" with new revenues.

Apollo PE in talks for $100 million Gati stake Posted: 02 Aug 2011 12:57 PM PDT Private equity giant Apollo Global Management is holding talks with courier and shipping firm Gati for $100 million minority investment.

US Senate passes bill to prevent default Posted: 02 Aug 2011 10:18 AM PDT The Senate on Tuesday passed legislation that heads off an unprecedented US financial default and begins the process of curbing the country's spiraling debt. With less than 12 hours to go before the deadline, President Barack Obama promised to sign the measure immediately.

Dabur enters fruit-based fizzy drinks mart Posted: 02 Aug 2011 08:58 AM PDT The competition in the carbonated fruit-based drinks market is getting more intense with Dabur introducing its Burrst Fizz brand to tap the potential in this segment.

HDFC hikes lending rate by 50 basis points Posted: 02 Aug 2011 08:44 AM PDT Under the new rate structure, a new loan borrower will be charged an interest of 10.75 per cent per annum for loans up to Rs 30 lakh, 11 per cent for loans over Rs 30 lakh but under Rs 75 lakh and 11.5 per cent to those above that.

No large-scale job cuts in India, says HSBC Posted: 02 Aug 2011 05:56 AM PDT A day after announcing trimming its global workforce by 30,000, banking major HSBC on Tuesday ruled out any significant job cuts in India, a strategic market where it is fighting high attrition rate.

Sensex falls 204 points to 5-week low Posted: 02 Aug 2011 04:55 AM PDT The BSE benchmark Sensex on Tuesday fell 204 points to a five-week low of 18,109.89 on selling of real estate, banking and IT stocks by funds, jittery over a slowing domestic growth amid nagging concerns over a bumpy US economic recovery.

Mukesh Ambani could face probe over his luxury home Posted: 02 Aug 2011 04:06 AM PDT Mukesh Ambani faces a possible federal probe into the construction of his 27-storey luxury home -- one of the most expensive private residences in the world.

Toyota raises forecasts despite profit slump Posted: 02 Aug 2011 01:12 AM PDT Japan's Toyota Motor on Tuesday raised its full-year profit target by nearly 40% despite the impact of the March disasters and a strong yen, after it saw profits hammered in April-June.

Tata Motors to rejig dealerships to counter declining sales Posted: 02 Aug 2011 12:56 AM PDT Tata Motors today said it is rejigging its dealerships with plans to open product category-specific outlets as it looks to increase sales volumes of passenger vehicles.

Barclays to cut 3,000 jobs Posted: 02 Aug 2011 12:18 AM PDT British bank Barclays warned it could cut a total of 3,000 jobs in 2011 as part of an ongoing drive to reduce costs.

Barclays cut 1,400 jobs in H1, more to go in H2 Posted: 02 Aug 2011 12:18 AM PDT British bank Barclays warned it could cut a total of 3,000 jobs in 2011 as part of an ongoing drive to reduce costs.

Sensex down 180 points on growth concerns Posted: 01 Aug 2011 10:45 PM PDT The BSE benchmark sensex was down by 180 points in early trade today on fresh selling by foreign funds and retail investors mainly in realty, banking and IT stocks amid growth concerns.

China state media says US debt deal 'hiding risks' Posted: 01 Aug 2011 10:32 PM PDT State media in China, the largest holder of US debt, on Tuesday chided the United States over a deal to raise its borrowing limit, saying it was hiding "risks and troubles" for the world economy.

Fifty top corporate CEOs to meet in Mumbai Posted: 01 Aug 2011 09:47 PM PDT Fifty top executives of the world's leading corporations will meet in Mumbai on August 4 for a second round of discussions on the 'Future Global 100 Initiative', in the wake of the inaugural roundtable session held in Singapore on July 4, organisers said here today.

Sensex down 129 points on growth concerns Posted: 01 Aug 2011 09:45 PM PDT The BSE benchmark Sensex fell by over 129 points in opening trade on Tuesday as foreign funds and retail investors booked profits made in Monday's session amid growth concerns.

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