The news of global IT giant IBM buying Sun Microsystems has been doing the rounds for years. So, despite the Wall Street Journal reporting that an approximately $6.5 billion buyout is imminent, analysts remain sceptical.
Perhaps the most sensible thing Goldman Sachs did in an otherwise poorly-researched report on ONGC was to talk of 'corporate governance issues with cash withdrawals by promoter,' says Sunil Jain.
On February 18, CEO Kunal Das Gupta had put in his papers. Company sources say around a dozen senior executives also resigned with Almeida on Thursday. Based on viewership ratings, Sony TV is currently a distant fourth in the rankings of entertainment channels, behind Star Plus, Colors, and Zee TV.
Though end-of-season sale is common in the first week of February, what is interesting this time around is the quantum and timing of the offers. Retailers are giving away 20-25 per cent additional discounts, compared to the last year. Also, they began giving discounts at least three weeks before the ususal timing.
Punjab National Bank Chairman and Managing Director K C Chakraborty has emerged as the frontrunner for the post of the fourth deputy governor of the Reserve Bank of India (RBI).
The KPMG Report points out that just four per cent of all frauds have been detected by external auditors the largest proportion, 36 per cent, have been detected by internal auditors, says Sunil Jain.
While the jury's still out on whether US President Barack Obama's proposed stimulus is the right way to help fix the economy, rising unemployment is something that's likely to trouble the President for many years to come.
The disclosure comes within days after Kishore Biyani-owned Pantaloon Retail said that same store sales in December dropped for the first time in four years. Analysts were more surprised at the drop in value retailing, which indicated that value retailers were not benefiting from downtrading.
A good example of just how little comes to light are the series of serious allegations made by the Ambani scions in their fight over the years of wrongdoing by each other - none of these are anything that the MCA came up with, nor have they been seriously investigated afterwards.
Ranbaxy's investment in the six-year-old joint venture for the 50 per cent stake is estimated at Rs 30.5 crore (Rs 305 million). Industry sources said the deal was unlikely to impact Ranbaxy's financials as revenues and investment in the joint venture was not significant. Sources said revenues from NPI were only $25 million in 2007 through the sale of four generic products.
The Mumbai police, along with a group of enthusiastic citizens including Mumbai Sheriff Indu Shani, combed commercial complexes, malls, office buildings and residential premises in south and south-central Mumbai to identify and get rid of unsecured Wi-Fi connections in the city, following terrorist attacks last year.Terror mails were sent via unsecured Wi-Fi connections before the Delhi and Ahmedabad serial blasts also.
Anil Ambani-promoted Reliance Power is likely to announce the financial closure of its 3,960-Mw Sasan ultra mega power project (UMPP) in a few weeks.
Even more curious, while the law says foreigners can have only up to 74 per cent equity in a telecom firm in India, the 3G Information Memorandum says foreigners can bid without having Indian partners if they win the bid, they can then set up an Indian firm and comply with the rules.
The regulatory system in India has become a farce, and needs to be either scrapped, or thoroughly revamped. The way the law has been formulated, Trai is a toothless tiger -- it works well if the ministry chooses to be gentlemanly and takes the recommendations seriously; if the ministry chooses to assert its authority, there's little Trai can do, says Sunil Jain.
Swan is one of the firms which got a licence at bargain-basement prices thanks to telecom minister A Raja.
In addition to that, an increasing number of airlines like SpiceJet, national carrier Air India and GoAir are either getting into hedging of aviation turbine fuel or increasing the quantum of ATF hedged on the MCX. Last month, state-run Indian Oil Corporation approached MCX to provide it with a platform to hedge its refinery margins and end products from crude oil.
Investors, at a recent property exhibition concluded by magicbricks.com, were seen selling flats at 30 per cent discount to the market rate compared with the builders' offer of 15-20 per cent, according to reports. Investors normally comprise about 30 per cent of the property markets.
Roche expects to start selling Actemra by April 2009, company sources said. India will be the second country to launch the drug, Japan being the first. The Indian drug regulator Drug Controller General of India usually approves a new drug marketing application based on safety and efficacy data cleared by regulators in the US, EU and other developed countries.
Since Thursday, several carriers, mainly international, have cancelled their flights in and out of Mumbai due to sparse load factor or the inability of the crew to reach the airport. Amongst the domestic carriers, Kingfisher Airlines combined around eight flights. Air India also clubbed some of its flights in the domestic routes. Jet Airways, JetLite, IndiGo and SpiceJet did not cancel any flight.
With store rentals dropping as much as 35 per cent in the last one year, retailers say opening stores in certain locations has become profitable. As a result, some retailers plan to roll out their bigger format stores and others are booking retail spaces that will come up in two years at a much lower cost.
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