Bharti's talks with South African mobile operator MTN Group Ltd are now centered on a full takeover by the Indian operator for a combination of cash and stock, The Wall Street Journal said quoting a person familiar with the situation. The person said Bharti was considering paying as much as $20 billion in cash, said the paper. Bharti said on Tuesday it was in talks with MTN to 'combine the strengths of the two leading players from emerging markets.
Italian car maker Fiat is in talks to acquire 35 per cent stake in ailing American auto major Chrysler, says a media report.
Hinting at hard measures like further ban on exports to control rising prices, Finance Minister P Chidambaram has said inflation is also being stoked by cartel like behaviour in some sectors of Indian economy. Noting that soaring prices of rice and other basic food items are a matter of worry, Chindambaram said inflation is also being stoked by a mismatch of supply and demand and by cartel-like behaviour in some sectors of the economy. Export bans in steel were considered.
The world's largest pharmaceutical company by sales told the scientists and technicians around the world that it is eliminating their jobs. By the year end, it expects to have laid off five per cent to eight per cent of its 10,000 researchers, the Wall Street Journal said, quoting head of Pfizer's research and development Martin Mackay.
India's largest private carrier Jet Airways will report a full-year loss for 2007-08 fiscal and break even only in the financial year ending next March, said its chairman Naresh Goyal. Earlier in January, Jet Airways had reported a net loss of Rs 91.12 crore (Rs 911 million) for the quarter ended December 31, 2007 as against net profit of Rs 40.04 crore (Rs 400 million) for the year-ago period. Goyal expects Jet Airways to break even in the current fiscal, ending Mar 31, 09.
The poll, which has margin of error of 3.1 percentage points, found that just 19 per cent of Americans now say that nation is headed in the right direction, while 68 per cent say things in the US 'are on the wrong track.'
While poll participants were clear that they prefer a Democrat in the White House, when asked to pick between McCain, Obama and Clinton, the votes were tied. Voters prefer Democrats for issues such as the economy and health-care, but on terrorism and social issues, the Republicans came out as the preferred party.
Earlier this year, Yahoo! had spurned a $47.5-billion takeover bid from the software giant. The deal was mainly opposed by its chief executive Jerry Yang. Yang who is a co-founder of Yahoo! had last month announced that he would step down as the chief executive but would remain with the firm.
JP Morgan Chase is planning to slash nearly 21 per cent of workforce and lay off 4,000 employees by January at Washington Mutual, which was acquired by the investment banking major in September.
"Iraq is now a rear-guard action on the part of al Qaeda," General James Conway, the head of the Marine Corps and a member of the Joint Chiefs of Staff, told the paper in interview. "They've changed their strategic focus not to Afghanistan but to Pakistan, because Pakistan is the closest place where you have the nexus of terrorism and nuclear weapons."
Pakistan President Pervez Musharraf has said he is not planning to resign or retire despite his allies suffering a crushing defeat in the general election and asserted that he intends to stay in office to guide the democratic transition in the country.
'As long as the military and the madrassas rule just across the border, Afghanistan will never find peace,'says Chris Patten.
The aircraft, an Ilyushin 62 owned by Air Koryo, the North Korean state airline, made a stopover in Myanmar on August 7 and sought air traffic controllers' permission to fly over India en route to Iran. Initially the air traffic control in Kolkata gave the plane the go-ahead, but around noon on August 7, the Directorate General of Civil Aviation in New Delhi messaged Kolkata cancelling the permission, reports WSJ
The Wall Street Journal-NBC News poll found that 52 per cent voters favour Obama against 42 per cent who support McCain, showing a four per cent increase since the poll two weeks ago. The poll has a margin of error plus or minus 2.9 percentage points.
Ruud Lubbers, who resigned as United Nations High Commissioner for Refugees following allegations of sexual harassment, claimed he took the step to help Annan, 'who is facing a series of problems.'\n
'Young Osama was shocked by the government's use of massive military force against the rebels, and by the subsequent damage to the shrine,' says Yaroslav Trofimov, author of The Siege of Mecca.
Teams of American and Iraqi negotiators spent months haggling over the deal which will be presented to the Bush administration and the government of Iraqi Prime Minister Nouri al-Maliki for formal approval or rejection, the Journal said.
Publishing giant Random House has scrapped plans to publish a book on Aisha, the wife of Prophet Mohammed, fearing that it could be the new Satanic Verses and may draw the wrath of the Muslim community. "I'm devastated," said author Sherry Jones, whose novel The Jewel of Medina was bought by the publisher last year in a $100,000 two-book deal that was abruptly called off in May.
A government-backed investment company from Dubai plans to invest $2.5 billion in Asian economic giants India and China over the next two years, a leading financial daily said on Monday.
Omar Sheikh's lawyer Rai Bashir said he might use extracts from the book to seek a fresh hearing and trial for his client, a British citizen of Pakistani origin.
Media Mogul Rupert Murdoch's News Corp is all set to purchase Dow Jones and Co., publishers of the Wall Street Journal, for $5 billion, ending the century-long ownership of the Bancroft family.
Bharti Airtel, India's largest cellular operator, is planning to raise its offer to about $22.63 per share to acquire control of South African mobile player MTN, according to a media report. Quoting a person familiar with the 'deal,' the Wall Street Journal said on Monday that Bharti is considering raising the offer to about 175 South African rand (or $22.63) per share for control of MTN.
The move came as the United States and its European allies are believed to have faced resistance in pushing their case for referring Iran's nuclear activities to the United Nations Security Council.
The recent action comes amid the ongoing tension between India and China after the violent standoff on June 15 in Galwan Valley area in eastern Ladakh in which both sides suffered casualties.
Reuters Group Plc, which runs one of the world's leading news agencies as well as other financial data businesses, today said it has received an unsolicited takeover offer, but did not identify the potential bidder.
Beverages giant Coca-Cola plans to acquire US energy drink firm Glaceau, in which Tata Tea has 30 per cent stake, in a deal that could be worth over $3 billion, US media reports said on Wednesday.
Top Indian information technology companies are recruiting American executives on salaries and bonuses very generous even by American standards, in order to expand in the American market as also to improve efficiency at home, reports said.
The possession of nuclear weapons by India and Pakistan and their ability to escape international punishment because of their strategic value to the US and its allies have weakened the taboo against obtaining nuclear arms, the WSJ reported.
As long as oil continues to be a factor, as long as Iraqi Shias and Sunnis continue to butcher each other, as long as the expenses of war can be sustained by the American economy, there is no hope of an American withdrawal from Iraq.
Internet search major Google is likely to pick up a 5 per cent stake in media giant Time Warner's AOL for about $1 billion, the Wall Street Journal has reported.
Amjad Farooqi was wanted in connection with an assassination attempt on president General Pervez Musharraf last December, and was indicted in the murder of Wall Street Journal reporter Daniel Pearl.
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