Pearson owns various businesses, including the Financial Times Group, Pearson Education and the Penguin Group. Educomp is an education services provider, while Bangalore-based TutorVista is an online tutoring company.
The Indian School of Business, ranked in the top 12 global B-schools by the Financial Times, has increased its tuition fee to Rs 15.3 lakh per annum -- Rs 80,000 more than Rs 14.5 lakh it charged last year. The non-refundable fee remained at Rs 2 lakh.
The US Federal Reserve has earned a whopping $14 billion profit on loan programmes made in the last two years, says a media report.
Private banks in Switzerland are not allowing their top executives to travel abroad because of the apprehension that they would be detained, as the authorities are cracking the whip on banks over secrecy matters, says a media report.
Pakistan seems to have donned the role of a guinea pig-cum-promotion agent for China's arsenal experiments, as it is all set to buy at least 36 advanced fighter jets from China in a landmark deal for about $ 1.4 billion (RS 65,000 million), reported the Financial Times.
The company is set to be India's first microlender to become a bank
Ten Indian companies, including Mukesh Ambani-led Reliance Industries and telecom major Bharti Airtel, are among the 500 top global companies for 2009
The three bidders in the running are Italian carmaker Fiat, Canadian car parts group Magna and Belgium-based financial investor RHJ International, the report said. The report noted that German chancellor Angela Merkel would meet top officials from the US, General Motors and the bidders for GM's European units Opel and Vauxhall on Wednesday.
"Citigroup is ramping up efforts to slash its huge technology costs, with the bank's management believing it can save significantly more than $1 billion in 2009 by integrating hundreds of systems that have been separate for years," the Financial Times has reported.
The fate of Indian conglomerate Tata group-owned Jaguar Land Rover is uncertain as talks with the UK government over a financial support package has virtually failed, media reports say.
Manufacturers warned on Wednesday that limited stocks of a future swine flu vaccine could be distributed on a "first come, first served" basis, leaving hundreds of millions of people in poorer countries without protection.
Citigroup chief Vikram Pandit will try to convince investors that the financial services major is on a recovery path, following fresh concerns about his future in the company, a media report said.
Japan Airlines will slash 6,800 jobs and suspend a number of overseas routes in an attempt to cut cost.
Citigroup and the International Finance Corporation will be launching a funding tie-up worth $1.25 billion, aimed at boosting global trade flows, says a media report. As per the deal, Citi would provide $750 million to banks in Asia, the Middle East, Africa and Latin America over a three-year period, it added.
Growth in the east Asia region would be dragged down by the poor performance of countries like Thailand, Singapore and Malaysia.
The 62-year-old Fuld, who run Lehman for nearly 15 years, is considering to launch a firm to advise small companies on financial and strategic issues. British daily the Financial Times has reported that Fuld plans a comeback and has told friends that he might launch a small advisory firm to harness his contacts in US companies.
And what happens next?
China poses the biggest challenge to India's IT outsourcing industry, which is expected to grow by an average 15 per cent over the next two years, according to the chief executive of India's biggest business processing outsourcer.
The head of the World Health Organisation hit back at critics who have accused it of over-reaction to the swine flu crisis, warning it may return "with a vengeance" in the months ahead.
Quoting Tata Steel managing director B Muthuraman, the daily said the target could be reached partly by improving manufacturing procedures at the Corus plants spread across Europe. The Indian conglomerate Tatas had acquired the Anglo-Dutch steel maker Corus for about $13 billion last year.
The Financial Times quoted senior officials as saying that Chinese hackers had penetrated the White House computer network on multiple occasions and obtained e-mails between government officials. They, however, conceded that it was extremely difficult to trace the exact source of an attack beyond a server in a particular country, the Times said.
Pakistan is taking India's dossier on the Mumbai terror attacks "extremely seriously" and will "have to act fast" to complete its probe, Premier Yousuf Raza Gilani has said. "The dossier passed on to the government of Pakistan, we are taking it extremely seriously, and we have already started (an) investigation and the results will come soon," he told the Financial Times daily in an interview.
Goldman Sach's chief Lloyd Blankfein had called up his Citigroup counterpart Vikram Pandit to discuss a merger but the proposal was rejected by the India-origin chief executive officer, The Financial Times has reported.
Financial services major Barclays is to reduce its headcount by about 2,100 in investment banking and money management, as part of its cost cutting measures.The company is cutting 1,300 people from Barclays Capital, the debt-focused investment banking business, 500 from the Barclays Wealth private banking arm, and 330 in asset management business Barclays Global Investors. Overall, the cuts amount to 7 per cent of the three divisions' staff.
With global trade expected to shrink drastically in 2009, the issue of increasing protectionism is expected to come up for an intense discussion at the summit in London among the leaders of the advanced and developing economies which account for over 80 per cent of the multilateral trade.
Troubled financial services firm Citigroup is inviting bids for selling its Japanese brokerage unit, Nikko Cordial, in an effort to raise over $5 billion, a media report says.
The top executives of American entities Merrill Lynch and Morgan Stanley will forego their yearly bonuses amid the Wall Street executives coming under fire for the ongoing financial turmoil, say media reports.
In what could raise questions about his ability to rule Pakistan, a newspaper has claimed that Asif Ali Zardari, the country's leading contender for presidency, was suffering from severe mental problems as recently as last year.
The buying of the aircraft was 'seen as a misuse of money at a time when the bank is reliant on public support'. The report said that Citi, which earlier insisted that it would go ahead with the purchase of the jet, backed out after officials acting for Treasury Secretary Tim Geithner, expressed strong opposition to the move.
The troubled financial services major Citigroup's deal to sell its brokerage unit to Morgan Stanley is expected to bring about $4 billion tax revenue to the US government.
President Barack Obama is voicing optimism that this week's crucial G20 summit will set the framework for recovery, saying that world leaders know they must 'deliver a strong message of unity' for the sake of the global economy.
The cutback in production has been announced on top of three days' production halt this month and would impact most of Toyota's models made in Japan, excluding those outsourced to subcontractors, the report revealed. Further, sales of new vehicles in Japan slumped to the lowest level in three decades in 2008 as recession hit Asia's biggest economy, piling pressure on its auto giants, an industry group had said.
With no signs of financial aid coming from the UK government, Indian conglomerate Tatas have agreed to inject "tens of millions of pounds" into its British car company Jaguar Land Rover, says a media report.
Arun Sarin, the former chief executive of telecom giant Vodafone, who was reportedly in the race for the CEO post at Internet major Yahoo has decided not to accept the offer, says a media report.
India-born Vikram Pandit led world's biggest bank Citigroup is planning to overhaul its bonus system, aimed to increase co-operation and minimise in-fighting among disparate parts of the conglomerate, a media report said.
The head of Pantaloon, India 's leading retailer, has warned that high property prices in big Indian cities are threatening the country's burgeoning retail industry and adding to the pressures brought on by soaring construction and labour costs
News of all that's transpired on and off the football field
According to the Financial Times, Credit Suisse will be trimming its workforce by 10 per cent leading to job loss for 650 employees, while HSBC said it was slashing 500 jobs. Credit Suisse has been impacted by the loan writedowns, which has led to two quarters of losses for Switzerland's second-largest bank this year, the report said.
Gains were led by HUL on better-than-expected margins in March quarter and capital goods shares.
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