New Delhi:
Tribunal rules against telcos in 3G roaming case
A telecom tribunal has ruled that an agreement between leading telecom companies to offer 3G roaming mobile services where they do not have a licence is illegal. There was, however, a split verdict today, with one judge calling for fresh notices to be sent to the telcos, while another said their pacts should be terminated immediately. (Read More)
Also Read: What is 3G intra-circle roaming dispute
Sensex, Nifty give up early gains, end flat
Share prices slipped into negative territory after remaining firm for most of Tuesday. The sentiment turned weak as India’s crucial monsoon rain fell 31 per cent below average up to 2 July 2012. Shares of consumer goods, IT services and power sector companies shed value. (Read More)
Also Read: Diversified equity funds post best month since January
Rupee gains for fourth day, hits 6-week peak
The rupee strengthened for a fourth straight session on Tuesday, its longest winning streak in four months, as foreign banks sold dollars likely on behalf of their offshore clients looking to invest in the domestic share market. Most other Asian currencies also rose against the dollar as hopes of further monetary easing by major central banks boosted demand for riskier assets. (Read More)
Air India pilots to end 58-day strike
Air India pilots have said they will end their 58-day-long strike soon, after the Delhi High Court asked all striking pilots to end their agitation within 48 hours. The court had also said that the 434 pilots on strike must submit letters to the management indicating their willingness to get back to work.
Also Read: Reliance Power could lose $55 mn bank guarantee in tariff dispute
Inflation expected to soften from mid-October: Kaushik Basu
Inflation would continue to hover around 7.5 per cent for another two to three months but is expected to soften from mid-October, Chief Economic Adviser Kaushik Basu said. "My expectation on inflation as per wholesale price index is, for another two-three months, it will be the way it is (now)... around 7.5 per cent...," Basu told a seminar in Chennai. (Read More)
Also Read: India cellphone sales cross 50 mn mark in Jan-Mar
Barclays CEO Bob Diamond quits, a day after chairman resigns
Barclays chief executive Bob Diamond quit with immediate effect on Tuesday over an interest rate-rigging scandal, becoming the highest-profile victim so far in a probe that spans a dozen major banks across the world. Britain's third-largest bank said that outgoing chairman Marcus Agius—who himself announced his departure a day earlier—would lead the search for a new executive. (Read More)
Meanwhile, Shriti Vadera, the Indian-origin economist who worked closely with former Prime Minister Gordon Brown, has come under focus in the latest scandal that has hit British banks. (Read More)
Also Read: Samsung loses bid to lift ban on US tablet sales
Morgan Stanley expects top IT firms to post mixed results
Morgan Stanley expects mixed June-quarter results from the top four Indian tech companies, Tata Consultancy Services, Infosys, Wipro and HCL Technologies, with muted revenue guidance but a steep EPS upside. The investment bank says uncertainty post June-quarter results would be an opportunity to accumulate stocks with low expectations and modest valuations, such as Infosys, HCL Technologies and Mindtree. (Read More)
Also Read: Deutsche bank upgrades Indian utilities
Why a weak monsoon does not worry the government
India's crucial monsoons should improve next week, agriculture minister Sharad Pawar said on Tuesday, amid growing concern over a halt in the progress of the June to September rains that has hit sowing of some crops in the major food producer and consumer. "By and large, the situation may not be fully satisfactory but it is not bad either... There is ample opportunity to cover the delay," Pawar said. (Read More)
Microsoft: How acquisition wiped out $ 6.2bn from profits
Microsoft admitted its largest acquisition in the Internet sector was effectively worthless and wiped out any profit for the last quarter, as it announced a $6.2 billion charge to write down the value of an online advertising agency it bought five years ago.
The announcement came as a surprise, but did not shock investors, who had largely forgotten Microsoft's purchase of aQuantive in 2007, which was initially expected to boost Microsoft's online advertising revenue and rival Google purchase of DoubleClick. (Read More)
Also Read: SBI eyes $2 bn bond offering; hires Citi, UBS, four other banks
Facebook: Why Citi says it is easy to ‘like’, hard to love
Citigroup, a global bank, put out a research note last week putting a ‘neutral’ rating on Facebook. The bank said that it was easy to ‘like’ but hard to love the stock. Here are reasons why the bank says so.
Also Read: Google makes bid to dodge European antitrust fine
- Tribunal rules against telcos in 3G roaming case
- Sensex, Nifty give up early gains, end flat
- Rupee gains for fourth day, hits 6-week peak
- Air India pilots to end 58-day strike
- Inflation expected to soften from mid-October: Kaushik Basu
- Barclays CEO Bob Diamond quits, a day after chairman resigns
- Morgan Stanley expects top IT firms to post mixed results
- Why a weak monsoon does not worry the government
- Microsoft: How acquisition wiped out $ 6.2bn from profits
- Facebook: Why Citi says it is easy to ‘like’, hard to love
Tribunal rules against telcos in 3G roaming case
A telecom tribunal has ruled that an agreement between leading telecom companies to offer 3G roaming mobile services where they do not have a licence is illegal. There was, however, a split verdict today, with one judge calling for fresh notices to be sent to the telcos, while another said their pacts should be terminated immediately. (Read More)
Also Read: What is 3G intra-circle roaming dispute
Sensex, Nifty give up early gains, end flat
Share prices slipped into negative territory after remaining firm for most of Tuesday. The sentiment turned weak as India’s crucial monsoon rain fell 31 per cent below average up to 2 July 2012. Shares of consumer goods, IT services and power sector companies shed value. (Read More)
Also Read: Diversified equity funds post best month since January
Rupee gains for fourth day, hits 6-week peak
The rupee strengthened for a fourth straight session on Tuesday, its longest winning streak in four months, as foreign banks sold dollars likely on behalf of their offshore clients looking to invest in the domestic share market. Most other Asian currencies also rose against the dollar as hopes of further monetary easing by major central banks boosted demand for riskier assets. (Read More)
Air India pilots to end 58-day strike
Air India pilots have said they will end their 58-day-long strike soon, after the Delhi High Court asked all striking pilots to end their agitation within 48 hours. The court had also said that the 434 pilots on strike must submit letters to the management indicating their willingness to get back to work.
Also Read: Reliance Power could lose $55 mn bank guarantee in tariff dispute
Inflation expected to soften from mid-October: Kaushik Basu
Inflation would continue to hover around 7.5 per cent for another two to three months but is expected to soften from mid-October, Chief Economic Adviser Kaushik Basu said. "My expectation on inflation as per wholesale price index is, for another two-three months, it will be the way it is (now)... around 7.5 per cent...," Basu told a seminar in Chennai. (Read More)
Also Read: India cellphone sales cross 50 mn mark in Jan-Mar
Barclays CEO Bob Diamond quits, a day after chairman resigns
Barclays chief executive Bob Diamond quit with immediate effect on Tuesday over an interest rate-rigging scandal, becoming the highest-profile victim so far in a probe that spans a dozen major banks across the world. Britain's third-largest bank said that outgoing chairman Marcus Agius—who himself announced his departure a day earlier—would lead the search for a new executive. (Read More)
Meanwhile, Shriti Vadera, the Indian-origin economist who worked closely with former Prime Minister Gordon Brown, has come under focus in the latest scandal that has hit British banks. (Read More)
Also Read: Samsung loses bid to lift ban on US tablet sales
Morgan Stanley expects top IT firms to post mixed results
Morgan Stanley expects mixed June-quarter results from the top four Indian tech companies, Tata Consultancy Services, Infosys, Wipro and HCL Technologies, with muted revenue guidance but a steep EPS upside. The investment bank says uncertainty post June-quarter results would be an opportunity to accumulate stocks with low expectations and modest valuations, such as Infosys, HCL Technologies and Mindtree. (Read More)
Also Read: Deutsche bank upgrades Indian utilities
Why a weak monsoon does not worry the government
India's crucial monsoons should improve next week, agriculture minister Sharad Pawar said on Tuesday, amid growing concern over a halt in the progress of the June to September rains that has hit sowing of some crops in the major food producer and consumer. "By and large, the situation may not be fully satisfactory but it is not bad either... There is ample opportunity to cover the delay," Pawar said. (Read More)
Microsoft: How acquisition wiped out $ 6.2bn from profits
Microsoft admitted its largest acquisition in the Internet sector was effectively worthless and wiped out any profit for the last quarter, as it announced a $6.2 billion charge to write down the value of an online advertising agency it bought five years ago.
The announcement came as a surprise, but did not shock investors, who had largely forgotten Microsoft's purchase of aQuantive in 2007, which was initially expected to boost Microsoft's online advertising revenue and rival Google purchase of DoubleClick. (Read More)
Also Read: SBI eyes $2 bn bond offering; hires Citi, UBS, four other banks
Facebook: Why Citi says it is easy to ‘like’, hard to love
Citigroup, a global bank, put out a research note last week putting a ‘neutral’ rating on Facebook. The bank said that it was easy to ‘like’ but hard to love the stock. Here are reasons why the bank says so.
Also Read: Google makes bid to dodge European antitrust fine
