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'Barclays to cut 3,000 jobs post Lehman deal' (10 October 09:40) |
| Barclays Plc is likely to slash about 3,000 jobs following its purchase of beleaguered Lehman Brothers' North American investment banking and capital markets businesses. |
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Hyundai offers discounts for govt employees (10 October 08:06) |
| Hyundai announced a special discount of up to Rs 31,000 on its various cars for government employees aiming to cash in on the higher salaries and arrears under the Sixth Pay Commission.
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Lehman attorneys seek up to $950 per hour (10 October 07:33) |
| The largest bankruptcy case in the American history could prove to be a windfall for attorneys and advisors representing Lehman Brothers, who are demanding a fee up to $950 per hour.
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Dow Jones falls to lowest level in five years (10 October 07:29) |
| The US benchmark index Dow Jones Industrial Average has plunged to its lowest level in five years, amid negative market sentiments in the world economy |
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Citigroup lets Wells Fargo grab Wachovia (10 October 07:02) |
| Citigroup has abandoned its fight for Wachovia bank, letting it go to Wells Fargo, but said it will seek compensatory and punitive damages for bad faith and breach of contract.
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Jet to stop Mumbai-Shanghai-San Fransisco flight (10 October 06:54) |
| Hit by the global economic downturn and its impact on the aviation sector, Jet Airways on Friday announced stoppage of its Mumbai-Shanghai-San Fransisco service from mid-January.
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Rediff wins dispute over domain name at WIPO (10 October 06:45) |
| Rediff.Com India has won a legal dispute at WIPO which has held that a Canadian company has no legitimate rights to register a domain name using the word "Rediff".
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'Country cannot escape global economic crisis' (10 October 06:28) |
| The country cannot escape the impact of the current ecnomic global crisis and the government is doing its best to safeguard the interests of the people and steer it out of its adverse effect... |
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Bollywood relaxed despite liquidity crunch (10 October 06:26) |
| Could the current global market meltdown, directly or indirectly, affect Bollywood's finances and the production of its hugely mounted movies? |
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CRR cut: Realty players see light at the end of the tunnel (10 October 06:26) |
| Leading industry players expressed optimism that RBI's move to cut CRR will help new funds coming into the sector and boost demand with possible softening of interest rates.
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Wacorp Hyundai to invest Rs 60 crore in India (10 October 06:00) |
| Wacorp Hyundai India Ltd on Friday said it will invest Rs 60 crore in the next three years for setting up manufacturing units and on promotions.
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ICICI no longer most valued pvt sector bank (10 October 05:43) |
| ICICI Bank on Friday lost out its place as the country's most valued private sector bank to HDFC Bank, as its share price fell by about 20 per cent.
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Infosys rules out hike in offer price for Axon (10 October 05:21) |
| Infosys Technologies on Friday ruled out increasing its original offer price of 600 pence per share to buy the Britain-based Axon Group plc. |
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Infosys net up 30% in second quarter (10 October 05:20) |
| Undeterred by the global meltdown and currency volatility, India's second largest IT bellwether Infosys Technologies on Friday reported net profit of Rs.14.32 billion |
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Bentley to compensate global slowdown (10 October 05:18) |
| Bentley on Friday said it will focus on emerging market such as India to boost sales to compensate for the slowdown in developed economies.
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Singapore falls into recession (10 October 05:18) |
| The ongoing global credit crisis has pushed Asian economic giant Singapore into recession for the first time in nearly six years and the country has slashed its growth forecast to 3 per cent... |
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'No impending deals with Standard Chartered' (10 October 05:17) |
| DLF Ltd and Unitech on Friday denied media reports that a foreign bank has held back disbursement of loans sanctioned to them and termed the news as "false and baseless".
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Singapore keen to set up SEZ in India (10 October 05:16) |
| Singapore on Friday expressed interest in acquiring a special economic zone in India, but also voiced an understanding that the acquisition of large tracts of land was a sensitive issue. |
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ICICI Bank on recovery path after falling 28% (10 October 05:16) |
| ICICI Bank, which suffered a decline of as much as 28 per cent on the bourses, made a partial recovery in the afternoon trade after the bank asserted it had adequate rupee liquidity.
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JSW to be India's largest pvt steel maker (10 October 05:15) |
| JSW Steel is set to become India's largest private sector steel producer post-capacity augmentation of its plant at Vijaynagar in Karnataka by end of the calendar year.
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Inflation dips to 11.80% (10 October 05:06) |
| In the midst of an onslaught of bad news, the government received some good news on Friday as inflation fell to 11.80 per cent |
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RBI cuts CRR by additional 15 (10 October 05:05) |
| Taking swift action to inject about Rs 60,000 crore into the cash-strapped system, the Reserve Bank announced additional one per cent cut |
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Infosys crosses one-lakh employee mark (10 October 05:03) |
| IT major Infosys has become the second technology firm in the country to cross the one-lakh employee mark after industry leader TCS.
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Industrial growth crashes to 1.3% in Aug (10 October 05:00) |
| The global financial turmoil took a toll on India's industrial growth, which nosedived to 1.3 per cent in August from a high of 10.9 in the corresponding period |
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Chin-up time despite liquidity crunch (10 October 04:06) |
| Loan growth hasn't cramped the SME sector yet. Players remain sanguine
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Buy when there's blood on the street (10 October 04:02) |
| Investors of all classes have been badly scarred by the fall in stock markets, so much so that some have terminated investments in SIPS and got into conservative FMPs. |
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'More sex is safer sex' (10 October 04:00) |
| Did you know that by avoiding casual sex you could actually increase the spread of STDs? Moreover, what if you were told that these are conclusions of an economist. |
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Mittal, Tata eye 18 CIL underground mines (10 October 04:00) |
| World's leading steelmakers including Luxembourg-based ArcelorMittal and India's Tata Steel are learnt to have shown interest in mining coal in collaboration with Coal India Ltd |
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Electrical equipment makers seek the spark (10 October 03:54) |
| High transaction costs, poor infrastructure has led to capacity under-utilisation
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Coffee Board seeks entrepreneurs for expansion (10 October 03:53) |
| In a bid to popularise south Indian coffee in the domestic market, the Coffee Board of India aims to help small entrepreneurs in the northern and other regions |
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'2G, 3G revenue separation tough' (10 October 03:51) |
| Hong Kong, France, Greece have found the exercise quite complex and impractical
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Jamna Auto's topline may slide by 30% in Q2 (10 October 03:50) |
| Jamna Auto, part of the Jai group and one of the major component suppliers for commercial vehicles in India, could report up to 30% erosion in topline. |
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Financial firms cash in on art boom (10 October 03:48) |
| Offer advisory services and portfolio management for art investors |
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Bombardier Trans eyeing Hyderabad Metro project (10 October 03:44) |
| Bombardier Transportation, one of the leading rail equipment makers in the world and a supplier to the Delhi Metro, is now eyeing Hyderabad Metro project |
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'JBM Auto is looking at serving Fiat's global needs' (10 October 03:43) |
| The Rs 2,500-crore JBM group, with 28 plants and over a dozen companies, is one of the biggest auto component suppliers in India. |
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Babrala plans (10 October 03:42) |
| Tata Chemicals will expand urea capacity at its Babrala , Uttar Pradesh, plant and expects to begin production by the end of this fiscal. |
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Glimmer man of Pitambari (10 October 03:40) |
| The creator of Pitambari brand says before starting a new business, one should work in that industry for some time
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Tata Chem puts Tanzania plant on hold (10 October 03:39) |
| Tata Chemicals, the Mumbai-based soda ash maker under the Tata group, does not seem optimistic about building its delayed soda ash plant at Lake Natron in Tanzania. |
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Property bust haunts Asian banks (10 October 03:22) |
| Asian banks have largely escaped the worst of the global debt crisis, but housing market downturns, especially in China and India, still threaten to pile up bad loans. |
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Canada banks most stable: WEF (10 October 03:20) |
| Canada has the world's soundest banking system, closely followed by Sweden, Luxembourg and Australia, a survey by the World Economic Forum has found as financial crisis shake world markets. |
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Wall Street panic rolling over consumers (10 October 01:04) |
| Scared people across globe are cutting down on spending as worst financial crisis unfolds
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OVL seeks Kazakhstan oil co stake (09 October 11:18) |
| MangistauMunaiGas has 194 mt recoverable reserves; ONGC arm also eyes another exploration block
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IDFC's India Infra Fund raises $855 m (09 October 10:46) |
| The much-touted India Infrastructure Fund set up to finance major road, port and power projects has so far garnered over $855 million in multiple closures |
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Mkts rebound after central banks cut rate (09 October 09:05) |
| Asian and European markets on Thursday rebounded following emergence of buying interest after central banks around the world cut interest rates to restore faith in the economy.
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Crisis temporary, bank ratings to be unaffected: Moody's (09 October 07:05) |
| Ratings of financial institutions will not be affected by the present financial crisis as the government is providing the necessary cushion, says Moody's. |
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Ashok Leyland Sept sales down by 14.5% (09 October 06:38) |
| Hinduja Group flagship company Ashok Leyland reported a 14.5 per cent decline in vehicles sales in September. |
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Sony Ericsson seeks India patent for headset (09 October 05:41) |
| Sony Ericsson Mobile Communications has filed a patent application in India for its new audio headset, which can be connected with various devices using bluetooth technology. |
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Dollar may touch Rs 50 in two months: Experts (09 October 05:37) |
| Indian currency may lose further ground and dollar is likely to touch Rs 50 in the next two months in the wake of global financial crisis, say exporters and economists. |
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India becomes less competitive, drops to 50th rank (09 October 05:18) |
| India has dropped in its global competitiveness ranking to the 50th place, while neighbouring China has improved its ranking to the 30th spot. |
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'SBI ranks low in employees productivity' (09 October 04:47) |
| SBI may be the largest bank of the country in terms of capital reserve, but in terms of employee productivity, it ranks abysmally low, especially when compared with the private banks. |
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