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GlaxoSmithKline to axe 4,000 jobs in US, Europe!GlaxoSmithKline is to cut up to 4,000 more jobs as it restructures its workforce and focuses increasingly on emerging markets, The Sunday Times reported.Source: Zee News : Business | 31 Jan 2010 | 4:51 am Davos ends with recovery warning after banking bust-up!The world economy is recovering but remains fragile and dogged by huge deficits, top officials said on Saturday at the end of a Davos summit clouded by divisions over banking reform.Source: Zee News : Business | 31 Jan 2010 | 4:51 am ICICI open to domestic acquisition rules out overseasIndia's largest private sector lender ICICI Bank on Sudnay ruled out overseas acquisitions, but said it is open to buying local banks to increase presence and business within the country. Source: HindustanTimes.com - Top Business News Headlines | 31 Jan 2010 | 2:55 am Honda s India unit recalls 2nd generation CityThe Indian unit of Honda Motor Co said late on Saturday it would recall 8,532 of its 2nd generation City models manufactured in 2007 because of a faulty window switch. Source: HindustanTimes.com - Top Business News Headlines | 31 Jan 2010 | 2:46 am Reliance MediaWorks Q3 loss at Rs 27.33 crores - Equity Bulls
Source: Business - Google News | 31 Jan 2010 | 2:42 am BSF chief's 5-month-younger brother is CRPF head - Sify
Source: Business - Google News | 31 Jan 2010 | 2:36 am India reiterates carbon goals for climate accordNEW DELHI (Reuters) - India has reiterated a goal of slowing the rise of its carbon emissions by 2020 as part of pledges due by Sunday under a "Copenhagen Accord" to fight climate change, an official statement said.Source: Reuters: Money News | 31 Jan 2010 | 2:07 am M&M to launch 6-7 new variants next fiscal - Economic Times
Source: Business - Google News | 31 Jan 2010 | 2:04 am India submits to UN proposed emission cut targetsNew Delhi: India has submitted to the UN its proposed emission intensity cut targets by 20-25% by 2020, a day before the expiry of the world body’s deadline for submitting the climate change mitigation steps under the Copenhagen Accord. However, the country, which submitted the proposed targets yesterday, made it clear to the Secretariat of the United Nations Framework Convention on Climate Change (UNFCCC) that its all domestic mitigation actions were entirely voluntary in nature and not legally binding, a position it had maintained at last month’s Copenhagen Summit in Denmark. “India will endeavour to reduce the emissions intensity of its GDP by 20-25% by 2020 in comparison to the 2005 level through domestic mitigation actions,” said a statement from the Environment Ministry here. In view of the current debate in the international climate change negotiations, India also made it clear that “while these actions will be in the nature of its contribution to the global efforts to address climate change...it will be entirely voluntary in nature and will not have a legally binding character.” The announcement came a day after the US and European Union (EU) committed to the UN to cut green house gas emissions. The US has pledged to cut emissions by 17 per cent by 2020 from 2005 levels, although it said the target was dependent on domestic climate change legislation being passed. The EU also retained its position at the Copenhagen Summit committing to cut emissions by 20% by 2020 from 1990 levels and promised to raise the target to 30 % if other large emitters made similarly ambitious pledges. Though agriculture sector contributes around 14% of the total GHG emissions, India has kept it out of the purview of the mitigations actions in its blueprint submitted to the UN to ensure food security and that the needs of a teeming population are not compromised. “The mitigation actions will also not apply to agriculture sector. The emissions from agriculture sector will be excluded from the assessment of emissions intensity,” says the submission. India also said it intends to implement its mitigation actions in accordance with the provisions of the relevant national legislations and policies and will elaborate in due course the actions required in various sectors to achieve the overall objective of the emissions intensity reduction. India has already set up an expert group on low carbon growth economy under the Chairmanship of economist Kirit Parik to suggest ways for adaptation and mitigation actions sector-wise. While 194 countries, including the US, China and India, at the two-week UN summit in the Danish Capital last month took note of the Copenhagen deal, they were given 31 January deadline to list actions and targets to curb greenhouse gases causing global warming. Source: Home - Livemint.com | 31 Jan 2010 | 1:40 am Paes-Black win Australian Open mixed doublesMelbourne: Leander Paes equalled the record for most Grand Slam title triumphs by an Indian as the veteran and his Zimbabwean partner Cara Black clinched the Australian Open mixed doubles Championship with a straight-set win on Sunday. Top seeds and favourites, the 36-year-old Paes and the 30-year-old Black beat 10th seeds Ekaterina Makarova of Russia and Jaroslav Levinsky of Czechoslovakia 7-5 6-3 in just about one and a half hour. The triumph gave the Indian his 11th overall and fifth mixed doubles title. With this, Paes has equalled one-time doubles’ partner Mahesh Bhupathi’s tally. The last couple of times they reached a Grand Slam final, Paes and Black ended up on the losing side and eager to make amends for that, they were dominant from the word go today. They broke their rivals as early as in the third game and save for a couple of breaks lost on Black’s serve, the Indo-Zimbabwean pair seemed hardly troubled by Makarova and Levinsky, who committed far too many unforced errors. Black, whose net game and serve were the weak links for the top seeds, raised her game when it mattered after getting some pep talk from Paes. Having lost her serve twice, Black held it in the all-important 12th game before Paes smashed a winner to clinch the opener 7-5. Source: Home - Livemint.com | 31 Jan 2010 | 1:24 am Obama's jobs policy will hurt US MNCs mostThe tax proposals will have minimal impact on India-based corporations and other non-US headquartered businesses.Source: India Business News | Business News - Times of India | 31 Jan 2010 | 1:19 am Taiwan keen to boost investments in IndiaThe East Asian nation, over which China lays its claim, also wants to contribute its expertise in agriculture and food processing in India.Source: Daily News & Analysis: Money News | 31 Jan 2010 | 1:17 am CRR hike, higher inflation not to impact market: ExpertsExperts also believe that an interest rate hike was also not imminent, as 'banks have a lot of money and there is sufficient liquidity available in the system'.Source: Daily News & Analysis: Money News | 31 Jan 2010 | 1:11 am Air India International told to pay Rs 4.16 lakh compensationThe National Consumer Disputes Redressal Commission (NCDRC) has asked Air India International to pay compensation of Rs 4.16 lakh to a cotton fabric manufacturer after some bales in a consignment were stolen and others damaged due to exposure to rain.Source: India Business News | Business News - Times of India | 31 Jan 2010 | 1:09 am Honda's India unit recalls 2nd generation City - Economic Times
Source: Business - Google News | 31 Jan 2010 | 1:01 am Honda's India unit recalls 2nd generation CityMUMBAI (Reuters) - The Indian unit of Honda Motor Co said late on Saturday it would recall 8,532 of its 2nd generation City models manufactured in 2007 because of a faulty window switch.Source: Reuters: Money News | 31 Jan 2010 | 12:37 am US satisfied with recall fix, Toyota chief apologizesWashington: US safety regulators are satisfied with a Toyota Motor Corp. plan for fixing an accelerator problem that is part of a widening global recall and unprecedented sales and production halt, a government official said on Saturday. National Highway Traffic Safety Administration (NHTSA) engineers have reviewed Toyota’s proposal for preventing gas pedals in eight models from sticking and have raised no objections, said the official, who spoke on condition of anonymity because the plan has yet to be publicly announced. Toyota has issued a series of recent recalls covering 5.6 million vehicles in the United states due to sudden acceleration in some vehicles. It is the largest ever recall for Toyota and among the biggest for an automaker in US history. The problem has affected popular selling Toyota cars as well as its luxury Lexus models and is suspected of causing crashes that led to 19 fatalities over the past decade, government officials have said. Nearly 2 million vehicles also have been recalled in Europe. PSA Peugeot Citroen said on Saturday it would recall 100,000 Peugeot 107 and Citroen C1 models made at a factory in the Czech Republic where the French group and Toyota jointly make cars. Some 75,000 Toyota vehicles have been recalled in China. Toyota President Akio Toyoda apologized for the recall, Japanese broadcaster NHK reported on Friday. “We’re extremely sorry to have made customers uneasy,” Toyoda said on the sidelines of the World Economic Forum in Davos, Switzerland in comments that were broadcast by NHK. Toyoda last commented publicly on the matter in October, when he expressed regret for the deaths of four people in a California crash linked to the defects last year. Most of the vehicles recalled in the United States were singled out over concerns that gas pedals could get jammed on floor mats. Toyota is modifying gas pedals, redesigning floor mats, and taking other steps to address that issue. The subject of the fix reviewed by NHTSA this week and expected to be announced by Toyota within days covers more than 2 million vehicles equipped with gas pedals that may not spring back as designed. The remedy being readied by Toyota and its accelerator supplier, CTS Corp., involves a shim, also called a spacer, that will be placed in the accelerator to keep it from sticking, sources have said. NHTSA regulators are not required to approve the remedy but they can reject the approach if they consider it inadequate. Toyota said in a statement late on Saturday that it had reviewed the pedal fix with NHTSA and was finalizing details. US Transportation Secretary Ray LaHood said last week that NHTSA, which is part of his agency, closely reviewed the proposal. LaHood said he was satisfied with Toyota’s overall response to the acceleration issue, which has dented its reputation and prompted rivals, like government-owned General Motors Co., to try and lure its customers to their brands with incentives. As part of the recalls, Toyota has been forced to suspend sales of eight models in the United States, including its Camry sedan, the best-selling car in the world’s second-biggest auto market. It also temporarily halted production of the eight models at six U.S. and Canadian plants. Sources briefed on Toyota’s U.S. sales plans told Reuters on Friday the sales shutdown would continue until at least mid-February. A resumption assumes a smooth and swift rollout of a remedy to fix faulty accelerators in vehicles already sold or for sale at dealerships, the sources said. Toyota announces third-quarter financial results on 4 February. Analysts estimate the sales halt could cost Toyota at least $550 million in operating profit per month. Separate congressional committees have scheduled hearings into the matter next month. LaHood, NHTSA Administrator David Strickland and Toyota North American President Yoshimi Inaba are expected to testify. Source: Home - Livemint.com | 31 Jan 2010 | 12:34 am Air India International told to pay Rs 4 16 lakh compensationThe National Consumer Disputes Redressal Commission (NCDRC) has asked Air India International to pay compensation of Rs 4.16 lakh to a cotton fabric manufacturer after some bales in a consignment were stolen and others damaged due to exposure to rain.Source: HindustanTimes.com - Top Business News Headlines | 31 Jan 2010 | 12:28 am Bring commercial med edu institutions under tax net AssochamIndustry body Assocham wants the government to bring educational and medical institutions being run on commercial basis, including such hospitals under the tax net.Source: HindustanTimes.com - Top Business News Headlines | 31 Jan 2010 | 12:10 am DAVOS - FSB's Draghi says mulling bank failure agencyDAVOS, Switzerland (Reuters) - Global regulators are working on proposals for a central agency to manage bank failures, Financial Stability Board chief Mario Draghi said on Saturday.Source: Reuters: Money News | 31 Jan 2010 | 12:03 am CIL may miss output target - Hindu Business Line
Source: Business - Google News | 31 Jan 2010 | 12:01 am The FII surge: Retail investors cashing in?FIIs returned to the market with a bang last year, after five consecutive quarters in the withdrawalSource: Business Line - Home Page | 31 Jan 2010 | 12:00 am Banks buying priority sector loans from NBFCsPublic sector banks are now turning to non-banking finance companies to meet their priority sector lendingSource: Business Line - Home Page | 31 Jan 2010 | 12:00 am Honda to recall over 8,000 cars of 2007 City modelHonda has announced on Saturday a recall of more than 8,000 units of the second generation City sold in the domestic market in 2007, for a replacement of the power window switch located on the driver's sideSource: Business Line - Home Page | 31 Jan 2010 | 12:00 am Retail investor interest waning in top companiesNearly 60 per cent of the top listed companies have registered, as of December 2009, a decline in the retail investor (holding less than Rs 1 lakh in nominal value of paid-up capital) population compared with three months earlier (SeptemberSource: Business Line - Home Page | 31 Jan 2010 | 12:00 am Monetary policy review, a reminder to Govt to roll back fiscal largesseThe third quarter review of the monetary policy endeavours to ensure price stability and anchor inflation expectations that are fast getting embedded into the economy. This the central bank plans to do by keeping short-term interest rates steadySource: Business Line - Home Page | 31 Jan 2010 | 12:00 am 10-fold n-power capacity scale-up onPlans to scale up India's nuclear capacity nearly ten-fold over the next decade has got underway, with the Centre according ‘in principle' approval to over 38,000 MWe (mega watt electrical) of new reactorSource: Business Line - Home Page | 31 Jan 2010 | 12:00 am Three-month long Doha trade talks to resumeNew Delhi: Negotiators from key WTO members, including India, China and the US, will begin the marathon three-month meeting in Geneva from tomorrow to sort out vexed issues hampering conclusion of the Doha Round of trade talks. The trade negotiators, who are working against a tight schedule, will engage themselves in intense deliberations and prepare the ground for a high-level stalk taking meeting scheduled in March. Unless the trade negotiators are able to sort out the problems with regard to agricultural and industrial goods among the WTO members, it would be difficult to meet the 2010 deadline for conclusion of the Doha Round, an official said. Global leaders, including the G-20 members, have been seeking completion of the Doha Round of talks in 2010. “The stock taking exercise which may be done by senior officials is very important for the progress of the talks... everyone is saying that by the end of this year the Round should be concluded,” the official said. In February, the negotiators will hold parallel deliberations on agriculture, non-agricultural products and services, while in March intellectual property rights, technology transfer, trade in goods and trade facilitation issues would be discussed. The problem areas of the talk include high-level of farm subsidy in developed countries, demand for better market access for industrial products in the developing countries, level of farmers’ protection in the poor and developing countries like India. Commerce and Industry Minister Anand Sharma met a few WTO members like China and Brazil on the sidelines of the World Economic Forum (WEF) at Davos, Switzerland and discussed progress of talks on Doha Round. Commenting on the possibility of concluding the Doha Round of talks aimed at enhancing global commerce, Lamy had said that reaching an agreement is “doable in 2010” but “we now need to see it done.” “We have planned a schedule of technical work over the next months. Governments will assess at the end of March is it still feasible to conclude negotiations this year,” he has said. The Doha talks were to conclude and culminate into a multilateral trade-opening pact in 2005. However, the Round was marred by lack of desire both by the rich and developing nations to open their markets while seeking new pastures for their own goods. Since the launch of talks at Doha, the Qatari capital, the WTO has held two full-fledged Ministerial Meetings (the highest policy making organ) at Cancun and Hong Kong without much success. Source: Home - Livemint.com | 30 Jan 2010 | 11:50 pm CRR hike, higher inflation not to impact market, say experts - Economic Times
Source: Business - Google News | 30 Jan 2010 | 11:42 pm Obama to propose $3.8 trillion 2011 budget - paperWASHINGTON (Reuters) - President Barack Obama will unveil a $3.8 trillion budget proposal on Monday for fiscal 2011, the New York Times reported on Saturday.Source: Reuters: Money News | 30 Jan 2010 | 11:35 pm Reliance Media World eyes break-even in FY11Anil Ambani's Reliance Media World, which runs the FM network Big 92.7 FM plans to seal more alliances with regional radio-stations, a top company official said.Source: Daily News & Analysis: Money News | 30 Jan 2010 | 11:34 pm DAVOS - China to the West: we'll help but don't rush usDAVOS, Switzerland (Reuters) - The world turned its spotlight on attention-shy China at this year's gathering of business chiefs and policymakers, pleading it to lead a global recovery and wave its wand to solve economic imbalances.Source: Reuters: Money News | 30 Jan 2010 | 11:32 pm IMF working on plans for "green fund" - IMF chiefWASHINGTON (Reuters) - The International Monetary Fund is working on proposals for a multibillion dollar "green fund" to help countries tap funds to deal with the effects of climate change, the head of the institution said on Saturday.Source: Reuters: Money News | 30 Jan 2010 | 11:28 pm U.S. satisfied with recall fix, Toyota chief apologizesWASHINGTON (Reuters) - U.S. safety regulators are satisfied with a Toyota Motor Corp. plan for fixing an accelerator problem that is part of a widening global recall and unprecedented sales and production halt, a government official said on Saturday.Source: Reuters: Money News | 30 Jan 2010 | 11:23 pm Bafna Aviation to acquire chopper for emergency medical servBafna Aviation, plans to induct one helicopter into its fleet this year to venture into emergency medical services, a top company official said.Source: Daily News & Analysis: Money News | 30 Jan 2010 | 11:21 pm U.S. bank bailout encourages risky behavior - watchdogWASHINGTON (Reuters) - The U.S. taxpayer-funded rescue program set up to save banks from collapse during the financial crisis makes future reckless behaviour more likely, the government's bailout watchdog said in a quarterly report.Source: Reuters: Money News | 30 Jan 2010 | 11:01 pm The Leela to set up six hotels in three yearsHospitality player 'The Leela' plans to double the number of hotels it has in the country by setting up six more properties in the next three years. Source: HindustanTimes.com - Top Business News Headlines | 30 Jan 2010 | 10:55 pm IMF working on plans for 'green fund': IMF chiefGlobal talks on a new climate change pact have mostly looked to industrial powers to help finance efforts by developing countries to deal with climate change.Source: Daily News & Analysis: Money News | 30 Jan 2010 | 10:45 pm Fiat India to add 10 new dealers by end-DecemberAutomobile manufacturer, Fiat India, plans to add 10 new dealers into its existing network by year-end, a company official said.Source: Daily News & Analysis: Money News | 30 Jan 2010 | 10:32 pm Hotel Marriott gets Auda's green signalThe international chain's first project in the state will be opened in about a week.Source: Daily News & Analysis: Money News | 30 Jan 2010 | 10:14 pm CAT spares glitches in 2nd attempt - Economic Times
Source: Business - Google News | 30 Jan 2010 | 9:06 pm US satisfied with recall fix, Toyota chief apologizes - Reuters
Source: Business - Google News | 30 Jan 2010 | 6:27 pm Market rates for fertilizers?A group of ministers (GoM) has recommended a partial de-control of fertiliser regime to let rates of non-urea fertilisers be determined by the market.Source: India Business News | Business News - Times of India | 30 Jan 2010 | 3:49 pm RCOM consolidated net slips to Rs 1108 cr - Economic Times
Source: Business - Google News | 30 Jan 2010 | 1:22 pm Honda recalls 8,532 City sedans in IndiaGlobally, even the Honda Jazz is being recalled but not in India because the 2nd generation Jazz has been selling here since June 2009.Source: Daily News & Analysis: Money News | 30 Jan 2010 | 12:44 pm Honda Toyota recalls will not impact India muchJapanese car major Honda Siel Cars India on Saturday said it will recall 8,532 units of its best selling sedan City in the country as part of its global recall strategy.Source: HindustanTimes.com - Top Business News Headlines | 30 Jan 2010 | 12:42 pm Honda India to recall 8,500 City carsHonda India will recall 8,532 City sedans that were sold in 2007 to replace a faulty power window switch.Source: India Business News | Business News - Times of India | 30 Jan 2010 | 12:30 pm Gadkari attacks UPA; blames economic policies for price riseUnemployment, hunger, poverty and farmers' suicides are linked to "wrong economic policies, said the BJP president.Source: Daily News & Analysis: Money News | 30 Jan 2010 | 11:56 am I don't have to worry about Muslims In India - Business Standard
Source: Business - Google News | 30 Jan 2010 | 11:54 am We have wheat, rice stock to meet 2-year requirement: Sharad PawarThe Union agriculture minister said the current situation in India is in stark contradiction to what existed a year back; however, he conceded that the sugar scene is still a matter of concern.Source: Daily News & Analysis: Money News | 30 Jan 2010 | 11:40 am MNCs' cutting-edge research has a new address: IndiaWhen Sudhir Dixit returned home to head Hewlett-Packard Labs India in 2009, he was given a clear brief: Innovate for the next billion customers. His research is focused on how to meet the needs of non-tech savvy users like shopkeepers can the keyboard and mouse be done away with, can they use the computer just by touching its screen (like in an ATM), speaking to it, gazing at it or waving their hand? The idea is to make it as natural as talking on the phone or watching TV, said Dixit.Source: Business Standard | Front Page Headlines | 30 Jan 2010 | 11:36 am Kunal Dasgupta bags IPL theatre rightsKunal Dasgupta, the former chief executive of Multi Screen Media (earlier known as Sony Entertainment Television), has bought the theatre and public telecast rights of the Indian Premier League. It was under Dasgupta that Multi Screen Media had grabbed the IPL television rights for ten years for Rs 8,200 crore.Source: Business Standard | Front Page Headlines | 30 Jan 2010 | 11:34 am Honda recalls a third of all Citys made in 2007Power window switch can catch fire.Source: Business Standard | Front Page Headlines | 30 Jan 2010 | 11:31 am Flying high: Lufthansa bets big on Europe for growthDeutsche Lufthansa AG is the largest airline in Europe and the world\'s fifth largest in terms of overall passengers carried.Source: Moneycontrol Top Headlines | 30 Jan 2010 | 10:10 am Rail Budget either on Feb 23 or 24: Mamata BanerjeeThe Railway Budget for 2010-11 will be presented in Parliament either on February 23 or 24, Railway Minister Mamata Banerjee said today.Source: India Business News | Business News - Times of India | 30 Jan 2010 | 8:30 am RCom Q3 net profit falls 19.3% to Rs 1,164.82 crAnil Ambani Group company Reliance Communications today said its consolidated net profit declined by 19.34 per cent to Rs 1,164.82 crore for the third quarter of 2009-10.Source: India Business News | Business News - Times of India | 30 Jan 2010 | 8:09 am How will FMCG, IT biz perform in 2010?In an interview with CNBCTV18, Harish Manwani, Chairman of Unilever (HUL) and Mark Foster, Group Chief Executive of Accenture, give a pan industry view of how business is planning in these uncertain times.Source: Moneycontrol Top Headlines | 30 Jan 2010 | 7:00 am Honda to recall over 8000 units of sedan City in IndiaJapanese auto major Honda will recall 8,532 units of its sedan 'City' in India due to defective power window switch, as part of a global recall initiative that it announced.Source: HindustanTimes.com - Top Business News Headlines | 30 Jan 2010 | 5:27 am Amul to hike milk prices in Gujarat from Feb 1State's largest milk producer Gujarat Co-operative Milk Marketing Federation (GCMMF) selling its dairy products under the brand name 'Amul' has decided to hike the milk prices between Re 1 and 2 per litre in Gujarat.Source: India Business News | Business News - Times of India | 30 Jan 2010 | 5:10 am Apollo Tyres to hike prices in March quarterApollo Tyres plans to raise tyre prices in the March quarter to maintain profit margins as raw material costs rise, a top official said on Friday.Source: Moneycontrol Top Headlines | 30 Jan 2010 | 4:44 am Govt may divest only 10 pc stake in Coal IndiaState-run Coal India said the government may divest only 10 per cent stake in the PSU in the next fiscal, against the desired 15 per cent, as regulatory provisions bars it from reserving some shares for employees.Source: HindustanTimes.com - Top Business News Headlines | 30 Jan 2010 | 4:30 am GMR Infra to bring all road units under one umbrellaGMR Infrastructure plans to consolidate its various units for roads business under a separate holding company to help raise funds for projects, the company said on Friday.Source: Moneycontrol Top Headlines | 30 Jan 2010 | 4:00 am Sensex tumbles by another 3 per cent during the weekIn high volatility, the Bombay Stock Exchange benchmark Sensex tumbled by 502 points, or 3 per cent, this week on heavy selling after fears of tightening of monetary policy and regulations for US banks to invest in equities.Source: HindustanTimes.com - Top Business News Headlines | 30 Jan 2010 | 2:48 am Honda to recall over 8,000 units of sedan City in IndiaHonda Siel Cars India on Saturday said it will recall over 8,000 units of sedan 'City' in the country due to defective power window switches as part of a global recall.Source: India Business News | Business News - Times of India | 30 Jan 2010 | 2:20 am Sensex tumbles by another 3% during the weekSensex tumbled by 502 points, or 3%, this week on heavy selling after fears of tightening of monetary policy and regulations for US banks to invest in equities.Source: India Business News | Business News - Times of India | 30 Jan 2010 | 2:18 am
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