The next great mega-litigation could rival the $12 billion spent cleaning up Enron.
France and India have become partners in building a multipolar world.
The reality is that this is an unprecedented time, and the environment far murkier than usual. While a trading rally is clear, it is to my mind premature to make any statement beyond that. While it is probably dangerous to have very high cash levels, I find it difficult to be fully invested, either, says Akash Prakash.
Barclays and BNP Paribas are considering the acquisition of Lehman Brothers' investment banking and brokerage businesses in India.
IT major Wipro Technologies and Gurgaon-based knowledge process outsourcing firm Copal Partners have expressed interest in bidding for the Indian back office business of Lehman Brothers Holdings, the US-based investment banking firm that filed for bankruptcy protection on Monday.
Donning the role of a commander ill-equipped to save the Titanic of banking world, Citigroup's India-born chief Vikram Pandit has found a place among the 20 worst ever CEOs in the American history, but the top honours has gone to bankrupt Lehman Brothers' Dick Fuld.
ITC Infotech, an IT services firm and a wholly owned subsidiary of tobacco-to-hotels conglomerate ITC Group, has acquired New York-headquartered Pyxis Solutions - a provider of quality assurance and testing services - for $25 million (around Rs 105 crore). This is its first all-cash acquisition in the last eight years, funded through internal accruals.
Banks are parking funds not just in securities qualifying for maintenance of statutory liquidity ratio (SLR), but also in mutual funds (MFs).
The idea of the MRP is becoming less relevant and should be replaced by portfolio pricing.
September 15, 2008 -- shockwaves went through the world financial markets, as it was hit by the biggest bankruptcy in history.
If India counts itself as a 'great power', it will have to play a role in framing and enforcing new global rules, says T N Ninan.
VMIL officials declined to comment on the development. According to sources close to the development, VMIL will sell stake to raise money for expanding Hungama, the content and mobile services arm. The Mumbai-based company has already held two to three rounds of meetings with these private equity investors. The company's valuation has been pegged at Rs 800 crore (Rs 8 billion). The funds raised would be used for Hungama's expansion.
Reform will be a priority with the new Congress. But where to start?
Though the number of Japanese foreign institutional investors in India is still negligible, it's significant that 8 of the 11 registered with Sebi entered in the past year and a half
After outperforming the broader market and their public sector peers for the better part of the post-Lehman period, private sector banks - such as HDFC Bank, ICICI Bank, Axis Bank, and Kotak Mahindra Bank - are now underperforming. Last week, the Nifty Private Bank index was up just 6 per cent year-to-date in the calendar year 2021, against nearly 13 per cent rally in the Bank Nifty and a 15 per cent rise in the benchmark Nifty50. Public sector (PSU) banks, such as State bank of India, Bank of Baroda, and Punjab National Bank, are now rally leaders and outperforming the broader market. The Nifty PSU Bank index was up 42 per cent since the beginning of this calendar year. But on a longer term, the Nifty Private Bank index is up 101 per cent since March 2016, against a 118 per cent rally in the Bank Nifty and just 2 per cent rise in the Nifty PSU Bank index in the period.
More than 600,000 Indians, many employed in the gems and jewellery sector, lost jobs in just four months from October 2008 as the impact of the global economic crisis hit the country's shores.
Considered, till recently, the "blue-chips" of the estimated $15 billion Indian matrimonial market, the marriage value of non-resident Indian (NRI) and India-based investment bankers is rapidly being eroded.
The year threw up quite a few surprises -- some pleasant, some not so much. A look at the year that was -- 2009.
The recommendations of the 6th Pay Commission, if implemented by the Central government, could result in major negative impact for the fiscal position of the country, though it could be positive for consumption, according to a leading investment banker. The review said assuming the 6th Pay Commission's recommendations were implemented fully, "we judge the impact on the economy should not be as negative this time round". Impact of 5th pay commission was unambiguously negative.
International brokerages, especially those which have made recent entry into the domestic market, are lining up to acquire the institutional broking business of the city-based Brics Securities.
Is Asia a bouncy, bouncy Tigger? Or, like the proverbial dead cat, are Asian tigers on a merely temporary upward trajectory? Certainly, Asia's tigers and, if you will bear with the zoological references, its canaries, too, have done better recently.
After one of the most disastrous weeks in the history of Wall Street, Warren Buffett decided to invest $5 billion there.
The surprise was Conde Nast Portfolio's topper for the world's best-ever CEO. It was Henry Ford, founder of Ford Motors. There is no doubt that Ford was a great entrepreneur and business visionary. But, with the hindsight of almost a century, it is worth questioning whether he was a good CEO. Ford could easily have won the accolade in his lifetime for revolutionising the personal transportation industry with the Model T.
The financial meltdown abroad should serve as a lesson for the investor. Save well for troubled times.
Bear and Lehman are gone and ETrade is bleeding. Here's what you need to know about brokerage safety.
With America's fourth largest investment bank Lehman Brothers filing for bankruptcy protection and Merrill Lynch being bought over by the Bank of America, placements at the Indian Institutes of Management will be affected.
Last month saw 30 companies filing their draft red herring prospectuses with the market regulator for initial public offers , a sharp increase from six in August and three in July this year. The Securities and Exchange Board of India received eight filings in September last year, the month the Lehman Brothers meltdown brought the world economy to its knees.
Industry bigwigs and corporate heavyweights have been scurrying to get the best students for themselves. Naturally, salaries are headed north.
The ripple effects of the fall of Lehman Brothers in September last year is evident in the field of global mergers and acquisitions, which shrank by nearly 40 per cent in the 12-month period since then.
Once the drought and its difficult fall-out are dealt with, good times should be round the corner, says T N Ninan.
Investors globally have found solace in gold in the last one year when major world economies slipped into recession. Sample this: According to World Gold Council data, investment by exchange traded funds in gold was 150 tonnes in the third quarter
In dollar terms, the Indian markets managed to climb back to 2008 levels only in January this year. The subsequent fall in the rupee because of emerging market woes has once again pushed the markets below their 2008 level in dollar terms.
Banks completed a full circle in 2008, as famed lenders from New York to Tokyo turned beggars who lined up for bailouts from their respective governments.
The bankruptcy filings count ballooned 33.3 per cent to 1,202,503 for the 12-month period ending March 31, 2008. In the comparable period, the same stood at 9,01,927, the statistics from the Administrative Office of the US Courts showed.
Three of this year's bankrupt companies -- GM, Chrysler and Thornburg Mortgage -- have found place among the 10 biggest ever bankruptcies in the American history.
We plowed through the financials of thousands of privately held companies to find the next pockets of trouble.
How to avoid getting the boot when layoffs loom.
With a market share of 16.6 per cent in mergers and acquisitions and 14.2 per cent in fund raising through the equity route, the investment banking arm of the German financial behemoth has become the numero uno investment bank in the country.
For the next two years the whole world, including India, is expected to reel under the effect of the current financial crisis. Here's how it will affect us in India.
The Indian rupee continued its downward march and fell by another 48 paise to 46.53 against the US dollar in early trade on Tuesday owing to melting Asian stock markets amid heavy demand for the greenback.
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