Indian ADRs: Wipro, Tata Comm, ICICI Bank down
Indian ADRs ended mostly in red on Thursday. In Banking space, HDFC Bank was down 0.42% at $ 155.50 and ICICI Bank was down 1.89% at $ 45.66. In Telecom space, Tata Communication was down 2.04% at $ 11.52 while MTNL was up 1.25% at $ 2.43.
Crude declines; trading at $ 91.05/bbl
In commodities, oil slipped as markets weighed disappointing US jobless claims data and the prospect OPEC would raise output should prices break above USD 100 a barrel for an extended period. Currently it is trading at USD 91.05 per barrel.
Asian mkts trading lower; Shanghai Composite, Nikkei down
At 7: 54 am (IST), Asian markets were trading lower. China's Shanghai Composite was down 0.85% or 24.15 points at 2,803.56. Japan's Nikkei was down 0.29% or 30.83 points at 10,558.93. Singapore's Straits Times shed 0.78% or 25.28 poinst at 3,230.59.
Interest rates may be peaking out: Ridham Desai
History suggests that the industrial sector and industrial proxies like the materials sector underperform the market in a rising interest rate scenario and outperform after rates peak, says Ridham Desai of Morgan Stanley.
Wall Street ends lower on disappointing economic data
The US markets ended on modest losses after a choppy session. Disappointing economic news halted the market rally.
Asia vulnerable to continuing inflation scare: Chris Wood
This week's ECB buying of Portuguese govt debt will only delay the day of reckoning, not prevent it, says Chris Wood of CLSA.
US mkts end down on disappointing initial jobless claims
The Nasdaq Composite was down 2 points at 2,735 and S&P 500 Index fell 2.2 points at 1284.
FIIs net sell Rs 250 cr in equities (prov)
FIIs were net sellers of Rs 35 crore in Index Futures while they were net buyers of Rs 154 crore in Index Options and net buyers of Rs 438 crore in Stock Futures.
NAVs end with negative returns
Equity diversified NAVs ended lower with advance:decline ratio of 7:245 as Indian benchmarks were slaughered by a combination of shorts build-up as well as profit booking on Thursday.
How does inflation affect your daily living?
You might be enjoying your cup of tea at a tea stall or you might be having a sumptuous meal in the afternoon! Even here or especially here you will feel the pinch of inflation.
Renault theft allegation kicks off spy inquiry
French carmaker Renault kicked off a judicial investigation into industrial espionage on Thursday, alleging corruption, theft and concealment.
Hearing sheds light on Michael Jackson private life
Michael Jackson may have called the anesthetic propofol his "milk," but rather than give him strength, it left him in such a vulnerable state that his urine was collected through a device for incontinent patients.
OPEC only likely to act if oil rally lasts
OPEC will only hold an emergency meeting if oil climbs above USD 100 and stays there, although the group's Gulf members could informally add supply if needed, a delegate from a Gulf OPEC member state said on Thursday.
SAIL Q3 net slips 34% on high input costs
Steel Authority of India, the country's largest steel producer, on Thursday warned rising raw material prices were taking toll on margins and may force further increases in product prices.
Remove supply bottlenecks to curb India inflation: World Bk
"I’m trying to get a better sense of some of the causes of inflation myself, but my preliminary read of the situation is that it’s caused more by bottlenecks on the supply side than it is by overly strong demand, said World Bank President Robert Zoellick.
ECB leaves refinance rates unchanged at 1%
The European Central Bank has left refinance rates unchanged at 1%. The President of the European Central Bank said that he sees short-term upward pressure on inflation but expects these inflationary pressures to be contained over the medium-term.
Warhol, pinball all appeal at Dennis Hopper auction
From the sublime to the silly, artwork, furniture and memorabilia owned by Dennis Hopper was auctioned off in New York this week.
Piracy costs global economy $7-12 bn a year: Study
Maritime piracy costs the global economy between USD 7 and USD 12 bn a year, researchers said on Thursday, with Somali piracy in particular driving up the cost of shipping through the Indian Ocean.
US jobless claims jump, wholesale food costs surge
US jobless claims jumped to their highest level since October while food and energy costs boosted producer prices, pointing lingering headwinds for an economic recovery that had been showing renewed vigor.
Trapped German burglars call police for help
Two would-be thieves called in their own crime to police in Germany after they could not escape from a broken-down elevator over the weekend, police said in a statement.
UK will not join new euro mechanisms: Cameron
Britain will not be drawn into new mechanisms to help protect the euro, Prime Minister David Cameron said on Thursday, as European ministers try to thrash out ways to shore up support for the common currency project.
Management tip of the day: Interview with your new boss
If you're getting a new boss in your existing job, consider getting 'hired' all over again so he or she is fully briefed on your importance to the team, says Harvard Business Review.
Tata Group shuffles management in 3 firms
Three of India's Tata Group companies on Thursday named executives from within the group as their new managing directors, effective February 1.
China's Twitter sets sights on Hong Kong
China's Weibo, the Twitter-like site run by Sina Corp, expects the number of users in Hong Kong to rise by 65 percent to about 1 million by the end of 2011.
RIM gives India access but not to secure e-mails
BlackBerry maker Research In Motion said it has given India the means to access its Messenger service and reiterated that no changes could be made to allow monitoring of secure corporate emails.
