According to the 2010 Merrill Lynch-Capgemini World Wealth Report, in India, the number of high net worth individuals (HNWIs) with minimum investable assets of $1 million (around Rs 5 crore) rose to 126,700 by the end of 2009 compared to just 84,000 in 2008.
Earlier, in September the Federal Reserve had given a formal approval to the Bank of America for acquiring troubled financial services firm Merrill Lynch. The US banking giant further said, "The reductions are designed to eliminate redundancies created as a result of the merger with Merrill Lynch and to reflect the current recessionary environment."
Given the uncertainty on the US economic outlook, the rising rupee, and the lack of clarity on imposition of fringe benefit tax on stock options, analysts believe the companies may strike a note of caution on FY08 earnings.
The potential of India's retail sector may be huge and growing, but soaring rentals, salaries and interest rates could make the journey a bumpy ride for retailers in the near term.
Inflation is likely to peak at 8.7 per cent by end-March and the Reserve Bank is likely to begin tightening its monetary policy from its January policy review itself, a report by Bank of America Merrill Lynch (BofAML) has said.
Fears of an economic slowdown in the US, and a consequent spread of the crisis to Europe and other parts of the world, resulted in oil prices falling over 12 per cent since Monday, the largest weekly fall since early 2004.
The financial district of Wall Street is slowly turning 'green'.
The battered entity had received taxpayers money to the tune of $25 billion in October 2008 and another $20 billion during the time of Bank of America's takeover by Merrill Lynch earlier this year.
Raj Sharma, 49, a senior vice president and a private wealth advisor with the Private Banking and Investment Group at Merrill Lynch in Boston, has been recognised for the third consecutive year as one of the best advisors in the US.
The scheme churns its portfolio as and when the opportunity arises, which is quite often
India's biggest drugmaker Ranbaxy Laboratories Ltd, which has decided to put its manufacturing unit in Ireland on the block, may sell it for 25-35 million Euros. \n\n
Transcript of the weekly market chat held on Tuesday.
Soumendra Nath Lahiri, senior VP, Equities, at DSP Merrill Lynch, says that they have maximum midcap exposure to media and IT in Opportunities Fund. The company has increased exposure to Mastek and Deccan Chronicle, he adds.
Leading Israeli IT company, Ness Technologies, has submitted a prospectus to the US Securities and Exchange Commission for launching its initial public offer to raise capital for investments in India.
Bank of America Securities-Merrill Lynch raised its growth forecast to 6.3 per cent from 5.3 per cent for the current fiscal. BAS-ML has also revised the country's growth projection to 7.3 per cent for the next fiscal from 7.1 per cent earlier.
While few doubt stocks here are quoting at price-earnings ratios which are higher than those in peer countries, India's growth prospects are the key differentiator.
This week, Citigroup named as chief executive Vikram Pandit, a cerebral strategist with a degree in electrical engineering and one of the best minds in the business.
The investment banking major has hiked its FY'14 CAD forecast to 4.3 per cent of GDP from 3.8 per cent with slowing global recovery likely to delay export turnaround.
Even as most of the 50,000-odd employees at Satyam Computer Services remain concerned about job and pay cuts, 250 to 300 employees working on the Merrill Lynch project have accepted an offer from Bank of America (BofA), the bank that bought the sub-prime meltdown-hit investment bank in September last year.
Indian HNIs registered the second fastest growth of 20.5 per cent, says the Asia-Pacific Wealth Report released by Merril Lynch and consulting firm Capgemini.
S Nagnath, President and CIO of DSP ML Mutual Fund says that he is bullish on the real estate sector. He also explains his logic behind starting a micro-cap fund and why investors can put their money in the same.
This comes on the back of impressive performance in infrastructure stocks in 2006 and in the first seven months of this calendar.
They fell from some of the most powerful positions on earth.
Who knows when the top chief executives will once again get the fat bonuses they were used to? The last recession provides a hint.
Despite volatile markets and the collapse of the technology bubble, the South Asian community in the United States -- especially Indians -- continues to grow and build wealth, according to a study released by Merrill Lynch on Tuesday.
Increasing spending by India's middle class, which some estimate is over 300 million-strong, will propel growth in the country's real estate sector from the current $12 billion to $45-50 billion by 2010, a study said.
Final student placements of the Indian Institute of Management (Ahmedabad) was over on Tuesday, with the premier B-school witnessing a hike in domestic and international salaries, as well as growing preference for enterpreneurship.
The BSE Realty index slumped 7.7% at 4,335. The IT index dropped 5.5% to 3,597, and the Metal index shed 4.5% at 10,391. The market breadth was extremely negative - out of 2,662 stocks traded, 2,263 declined, 359 advanced and 40 were unchanged on Monday.
While gold index funds have returned almost 10 per cent over the last three months, gold equity funds (investing in mining companies) have not given good returns in the last few months. At present, there are two gold funds, DSPML World Gold Fund and AIG World Gold Fund
Oracle Corporation's intentions to acquire an additional 35 per cent stake in i-flex Solutions may fail as its public offer did not meet with an adequate response
Chief Investment Officer of Prudential ICICI, Nilesh Shah discusses the current situation of the market in terms of inflows, valuations and the general consensus on the market.
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