The crisis in Air India raged on for the 11th day Friday and the national carrier’s losses mounted to Rs.200 crore as the impasse between agitating pilots and the management continued. “Contingency plan is in place. We are operating a…

Sensex slumps 161 points in noon trade

A benchmark index for Indian equities markets was trading over 161 points low from its previous close around 12.30 p.m. Friday as automobile, capital goods and metal stocks came under intense selling pressure. The 30-scrip sensitive index (Sensex) of the…

Retail inflation surges to 10.36 percent in April

India’s inflation based on retail prices surged 10.36 percent in April as compared to 9.38 percent in the previous month due to a sharp increase in prices of vegetables, edible oil and milk products, government data showed Friday. The price…

Fitch cuts Greece’s rating

International ratings agency Fitch has announced cutting Greece’s credit rating from B- to CCC, citing the “heightened risk” that Greece could leave the euro zone. Recent Greek parliamentary elections and subsequent failure to form a government underscores the lack of…

Honda recalls over 52,600 vehicles in US

Honda Motor Thursday announced it is recalling over 52,600 sedans from 2007 and 2008 models in the US over a defect in the vehicles. The Japanese automaker is recalling Acura TL sedans on concern of a problem with the power…

JP Morgan sued by shareholder after facing $2bn trading loss

US fund manager Saratoga Capital Management has sued JP Morgan Chase after the bank lost over 2 billion dollars in derivatives trading. The class-action lawsuit accused Jamie Dimon, the bank’s chairman and chief executive, and Douglas Braunstein, the bank’s…

Rupee dips to record low of 54.42 against dollar

The Indian rupee slumped to a record low of 54.42 against the US dollar Wednesday due to rising concern over fiscal deficit and poor economic outlook coupled with weak global cues. The partially convertible rupee was trading 1.18 percent down…

Sensex tanks 324 points in noon trade

A benchmark index for Indian equities markets was trading over 324 points low from its previous close around 12:15 p.m. Wednesday as automobile, metal and power stocks came under intense selling pressure. The 30-scrip sensitive index (Sensex) of the Bombay…

India improves ranking in trade logistics performance

Global trade logistics performance slowed down over the last two years amid the global recession but India - ranked 46th among 155 countries - and others that pursued aggressive reforms continued to improve, according to the World Bank. India with…

Moody’s cuts 26 Italian banks’ ratings

Moody’s Investors Service cut the long-time credit ratings of 26 Italian banks Monday, underlining the banking woes in both the country and the euro zone. The move was a part of a wider review of European bank ratings, according to…