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Merrill’s financial advisers’ loyalty questioned - Wednesday, January 07, 2009
By Greg Farrell and Francesco Guerrera in New York
Published: January 6 2009 19:16 | Last updated: January 7 2009 00:04
Fresh questions are being raised about the stability of Merrill Lynch’s 16,000-plus “thundering herd” of financial advisers, one of the most powerful and enduring forces in US financial markets (full story) |
Asia Stocks Rise on Expectation U.S. Spending Will - Wednesday, January 07, 2009
Jan. 7 (Bloomberg) -- Asian shares rose, driving the regional benchmark index to a two-month high, after President- elect Barack Obama said the U.S. will run deficits for years, lifting speculation government spending will restore growth. (full story) |
I-T dept attaches Pyramid Saimira’s bank accounts - Wednesday, January 07, 2009
IT IS turning out to be a long season of bad news for Chennai-based theatre chain, Pyramid Saimira Theatre (PSTL). Barely a couple of weeks after the controversy over the forged Sebi letter, the income-tax department of Chennai has attached the company’s bank accounts to recover an outstanding amount of Rs 26.59 crore. (full story) |
Banks may post robust results on high credit growt - Wednesday, January 07, 2009
BANKS are expected to post strong growth in the quarter ended December 2008 due to high credit growth and easing of yield on government bonds. Top Indian banks are expected to grow their earnings by close to 40% yoy in December 2008 quarter. The profit growth is expected to be driven by credit growth. (full story) |
IIFC arm okays $270-m loan for Tata, ADAG infra pr - Wednesday, January 07, 2009
LONDON-BASED IIFC (UK), the newlyformed foreign arm of India Infrastructure Finance Company (IIFC), has sanctioned $270-million loans to two infrastructure projects. It has extended a $200-million loan to Tata Power’s 4,000-mw Mundra ultra mega power project and about $70 million to Anil Dhirubhai Ambani Group’s Mumbai metro rail project. These are the first two projects to avail loans from IIFC, an official familiar with the transaction told ET. (full story) |
IDBI Bank, Sidbi shortlisted to float SPV for fund - Wednesday, January 07, 2009
RELIEF could soon be on way for fundstarved non-banking finance companies (NBFCs). The government will soon designate IDBI Bank or specialised small-scale lender Sidbi to float a special purpose vehicle (SPV) to subscribe to investment-grade paper of NBFCs, in a move aimed at addressing fund woes of these entities. (full story) |
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