GM shares, which were listed at the New York Stock Exchange on December 20, 1916, were worth close to about $100 a piece in 2000. The going-under of this iconic carmaker has been billed as a 'surgical bankruptcy' by the government for its revival into a new GM in the next two-three months, but the long-running restructuring exercise could not help avoid a loss of over $10 billion in the past one year for investors.
As the global economic downturn takes toll on pay packets, Indian IT major Wipro's chief Azim Premji seems to be leading by example as he has taken a cut of about 10 per cent in his annual compensation.
The New York Stock Exchange-listed Nova said in a statement that it has signed a letter of intent with RIL for the joint venture, which is expected to be operational by the third quarter of 2008 after finalising the formal agreements. Shares of Nova Chemicals rose 3.8 per cent to $26.17 at the NYSE on Thursday, while that of RIL were trading 1.3 per cent up at Rs 2,649 at the Bombay Stock Exchange on Friday.
Wipro has announced changes in the management structure of its IT business and expansion of its board. The firm appointed Girish Paranjpe, Suresh Senapaty and Suresh Vaswani to the Board of Wipro Ltd. Wipro also re-structured its IT business by appointing Girish Paranjpe and Suresh Vaswani as joint-CEOs. Paranjpe was the president of the banking, financial services & insurance business unit of the global IT business of Wipro. Suresh Vaswani was the president of Wipro Infotech
Buying one share of Citigroup will cost its CEO Vikram Pandit his full-year salary -- $1, which can also buy a soft drink at any neighbourhood McDonald's store.
Global IT giant IBM is understood to be the front-runner to acquire Satyam Computer Solutions, a company it named as one of its main competitors in a filing to the New York Stock Exchange in February. The US major, said sources close to the developments, has begun discussions with Satyam's government-nominated board and expressed its desire to acquire a majority stake in the company. A team of investment bankers and lawyers from the US and Europe has been brought in.
The Treasury Department said it will convert about $25 billion of preferred shares into common stock provided private holders agree to the same terms, the government said in a statement on Friday. The conversion would give the US a 36 per cent stake in the New York-based firm.
World's largest exchange, the New York Stock Exchange is wooing India's showpiece IT firm Infosys Technologies to list its shares on its trading platform.
After resuming trading on Monday, shares of Satyam plummeted 84 per cent to close at $1.46. It had touched its intra-day low at $0.78. Asked if the NYSE will issue a notice for possible delisting of the company for shares dipping below $1, NYSE spokesperson told PTI in an e-mailed statement, "No, the average closing price of a security must be less than one dollar over a consecutive 30 trading-day period.
Tax demands and regulatory hassles, coupled with low internet density and sundry other problems, would have kept Mr Ma awfully busy - and small.
Global technology service provider EDS said on Monday it has reached an agreement to acquire Bangalore-based software testing firm RelQ Software Private Ltd.
The New York Stock Exchange, which has five per cent stake each in NSE and MCX, is keen to increase its holding further as and when Indian regulator relax rules, NYSE CEO Duncan L Niederauer said on Thursday.As per the current regulations a foreign entity cannot purchase more than five per cent stake in the country's stock exchanges.
More corporates from across the world are keen on setting up operations in India, ranked the top destination for investments and acknowledged as being strategically important to them by global businesses.
The collective responses from 240 CEOs of NYSE-listed companies suggest that an organization's ability to conduct business globally will be vital for its success in 2008 and beyond.
Companies are developing a surrogate education system to create a skilled labour pool.
After the National Stock Exchange, the focus has now shifted to stake sale soon in two depositories, the National Securities Depository and the Central Depository Services.
The MCX chief was in the US to clinch a deal with the NYSE that has bought 5 per cent stake in MCX.
Mittal Steel Company NV announced on Thursday an interim dividend of $0.125 per share for its European and New York Stock Exchange shareholders.
Business process outsourcing company Genpact has set the ball rolling for a $600 million (around Rs 2,500 crore) initial public offer on New York Stock Exchange
$47.6 bn capital invested across 921 deals in India in 2020, despite pandemic.
The year 2020 could see the worst global economic fallout since the Great Depression in the 1930s, with over 170 countries likely to experience negative per capita income growth due to the raging coronavirus pandemic, IMF Managing Director Kristalina Georgieva said on Thursday. Georgieva made the remarks during her address on 'Confronting the Crisis: Priorities for the Global Economy' in Washington, DC, ahead of next week's annual spring meeting of the International Monetary Fund and the World Bank.
'Interest rates will depend on the respective banks depending upon their deposits. We will get a clearer picture from the banks in the coming days,' says Y V Reddy.
Nasdaq-listed Wipro Ltd on Wednesday said its chairman Azim Premji has been named among the 'greatest entrepreneurs' of all time by BusinessWeek.
Indian television company NDTV is in advanced stages of negotiations with NBC Universal, a subsidiary of New York Stock Exchange-listed General Electric to sell between 25 and 30 per cent in its UK-based subsidiary NDTV Networks Plc.
In terms of percentage, Exlservice Holdings Inc has recorded the biggest loss of about 19 per cent, while Infosys, Satyam, Sify, Wipro, Rediff, WNS, HDFC bank, VSNL, Genpact, Dr Reddy's and Patni also saw their market values dipping. All the major IT scrips saw a fall of more than seven per cent, led by Satyam Computer (over 10 per cent), while Wipro and Satyam lost about eight per cent and seven per cent respectively.
A large number of Indian companies are vying to list their shares on foreign exchanges, particularly in the US, on the back of the successful listing of BPO major WNS on the New York Stock Exchange.
On the prowl for more buyouts, software major Wipro would pursue the strategy of acquisitions more aggressively in future along with other initiatives.
It had come out with an initial public offering (IPO) of 35.3 million common shares, priced at $14 a share, which enabled the company to raise $494 million. The initial market cap is about $2.89 billion.
Barely two weeks after the Reserve Bank of India permitted 49 per cent foreign stake in stock exchanges
New York Stock Exchange, along with a group of global investment banks, including Goldman Sachs, are together picking up over 20 per cent stake in the country's leading stock exchange, the National Stock Exchange.
Sterlite Industries is set to list its $2 billion (Rs 8,000 crore) American Depository Shares issue, the largest by any Indian company, with the New York Stock Exchange by the middle of this month.
Software major Wipro's head of sales (America), Rich Garnick has resigned, the second such exit of a senior executive after the company's high-profile vice-chairman Vivek Paul left the firm a month ago.
The story began with the BSE board selling 5 per cent of its equity each to Frankfurt-based Deutsche Boerse AG (the world's biggest stock exchange in terms of market capitalisation) and the Singapore Exchange at Rs 5,200 per share.
WNS is all set to list in the US after an initial public offer that has been priced well above the forecasts.
The NYSE accounts for more than 60 percent of S&P 500 volume at the close of the market
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