Sensex in red amid negative Asian cues

MUMBAI – A benchmark index for Indian equities was faltering Wednesday amid negative cues from major Asian bourses.

Realty, metal and energy scrips were facing bulk of the selling pressure.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,643.59 points, was ruling at 17,529.91 points, 160.71 points or 0.91 percent … Read this article on Gaea Times at : Sensex in red amid negative Asian cues.

BEL India To Revise Wage

BANGALORE, INDIA (GaeaTimes.com)- BEL India (Bharat Electronics Limited) in its aim to meet the wage revision is pulling apart Navaratna Public Sector Unit net profits. This is quite different from the last year when the total turnover for BEL India was recorded at 13.2%. As a matter of fact the net profit structure faced a …. Original source  : BEL India To Revise Wage.

Greek borrowing costs hit new highs after ratings downgrade; country 3 weeks away from default

Greek borrowing costs at new highs after downgrade

ATHENS, Greece – Three weeks away from potential default, Greece saw its borrowing costs spiral higher once again Wednesday, a day after ratings agency Standard & Poor’s downgraded the country’s bonds to junk status.
Stocks around the world tanked after the downgrade by S&P, which also lowered its rating … Read the original article on Gaea Times at : Greek borrowing costs hit new highs after ratings downgrade; country 3 weeks away from default.

RNRL Awaits Supreme Court Verdict

DELHI, INDIA (GaeaTimes.com)- RNRL (Reliance Natural Resources Ltd) shares which are solely owned by Anil Ambani will soon be receiving the verdict of Supreme Court of India which shall draw the end to one of the most talked about corporate war being fought over the years. The chief justice presiding over the RNRL case …. Source article on Gaea Times at  : RNRL Awaits Supreme Court Verdict.

Republicans vote ‘no’ on banking rules, look to ‘yes’ after they win some concessions

GOP votes ‘no,’ looks to ‘yes’ on their own terms
WASHINGTON – Republicans are voting “no” so that some of them can get to “yes” on tightening the reins on Wall Street.
Outnumbered by Democrats, Senate Republicans have held together for two days, twice blocking the start of debate on new financial regulations in hopes … Read : Republicans vote ‘no’ on banking rules, look to ‘yes’ after they win some concessions.

In heartland economic tour, Obama to link Main Street’s economy with Wall Street

Obama to link Wall Street to Main Street
DES MOINES, Iowa – President Barack Obama’s message is simple: If lawmakers don’t rein in Wall Street, there’s no guarantee another economic crisis won’t undermine Main Street.
Making that link as he sells the Democrats’ financial regulatory reform bill is a political imperative for Obama as well …. Read the original article  : In heartland economic tour, Obama to link Main Street’s economy with Wall Street.

Republicans look to reverse New England slide by targeting handful of House seats

GOP eyes comeback for New England House seats
CONCORD, N.H. – New England Republicans, dismissed as a vanishing breed after a string of congressional losses, are now thinking comeback.
Tapping a deep vein of voter discontent over the economy, jobs and President Barack Obama’s health care overhaul, the GOP has a reasonable shot at capturing … Read this article on Gaea Times at : Republicans look to reverse New England slide by targeting handful of House seats.

Amid fears of crisis, euro slips before gaining to reach $1.3196 in morning trading

Euro slides below $1.32 amid spreading debt fears

BERLIN – The euro slid against the dollar in morning European trading Wednesday but managed to recover slightly even as fears that the Greek financial crisis could spread to Portugal take their toll on the 16-nation currency.
The euro fell as low as $1.3155 in early trading Wednesday before … Read more >>.

Germany’s Merkel to meet ECB, IMF heads amid debate over bailout for debt-ridden Greece

Merkel to meet ECB, IMF heads amid Greek crisis

BERLIN – The spiraling financial crisis surrounding Greece, and fears it could spread to other eurozone countries like Portugal, overshadowed a planned meeting Wednesday between German Chancellor Angela Merkel and the heads of the International Monetary Fund, European Central Bank and other financial institutions.
Worried markets are looking … Read : Germany’s Merkel to meet ECB, IMF heads amid debate over bailout for debt-ridden Greece.

USDA proposes cutting billions from crop insurance subsidies after industry posts high profits

USDA to cut subsidies as insurers post big profits

MINNEAPOLIS – The federal government wants to save taxpayers billions of dollars by cutting spending on crop insurance.
Farmers pay premiums for insurance to cover part of their losses when there’s bad weather and crops fail. But the government subsidizes the program to keep it affordable. Last year, … Original source on Gaea Times at : USDA proposes cutting billions from crop insurance subsidies after industry posts high profits.

Nordea 1st quarter net profit rises by 3 percent on higher fee and commission income

Nordea Q1 net profit up 3 pct on higher fee income

STOCKHOLM – The Nordic region’s largest bank Nordea AB Wednesday said its first quarter profit rose by 3 percent, helped by higher fee and commission income.
The bank, based in Stockholm, said net profit for the first quarter climbed to ???642 million ($854 million) from ???626 … Read this article on Gaea Times at : Nordea 1st quarter net profit rises by 3 percent on higher fee and commission income.

Nordea 1st quarter net profit rises by 3 percent on higher fee and commission income

Nordea Q1 net profit up 3 pct on higher fee income

STOCKHOLM – The Nordic region’s largest bank Nordea AB Wednesday said its first quarter profit rose by 3 percent, helped by higher fee and commission income.
The bank, based in Stockholm, said net profit for the first quarter climbed to euro642 million ($854 million) from euro626 … Read : Nordea 1st quarter net profit rises by 3 percent on higher fee and commission income.

SGX Nifty Witnesses Trading Tragedy

SINGAPORE, (GaeaTimes.com)- With the trading option swinging in a little low for SGX Nifty, all Indian equities are hitting it out negative. As per the last stands on Wednesday, SGX (Singapore Stock Exchange) Nifty recorded a trade of 5,229.50 which is as of a whole 78 points lower rate than what was recorded in Tuesday …. Source  : SGX Nifty Witnesses Trading Tragedy.

Royal Dutch Shell reports profits rose 57 percent in Q1 to $5.48 billion

Shell reports $5.48 billion profit in Q1
AMSTERDAM – Europe’s largest oil company Royal Dutch Shell PLC reported a 57 percent increase in net profit for the first quarter on Wednesday, crediting higher oil prices, production growth, and cost-cutting.

Net profit was $5.48 billion, up from $3.49 billion in the same period a year ago. Revenues were … Read more : Royal Dutch Shell reports profits rose 57 percent in Q1 to $5.48 billion.

British American Tobacco says revenue rose in first quarter despite volume drop

BAT reports Q1 revenue gains despite lower volumes

LONDON – British American Tobacco PLC said Wednesday that group revenues rose in the first quarter although it sold 1 percent fewer cigarettes.
The company said revenue, on a constant exchange rates basis, increased in all market sectors.
BAT did not report earnings figures in its interim management statement.
The company … Read more »»».

Athletic apparel maker Puma’s 1st quarter net profit soars 82 pct to $110 million

Puma’s Q1 net profit surges 82 pct
BERLIN – Puma AG, the German athletic apparel maker, says its first quarter net profit has surged some 82 percent even as sales dipped.

The maker of shoes, shirts, bags and other athletic products said Wednesday it had a net profit of euro83.1 million ($110.4 million) in the first quarter … Read : Athletic apparel maker Puma’s 1st quarter net profit soars 82 pct to $110 million.

Cheap call rates eat into Bharti Airtel profits

MUMBAI – The net profit of Bharti Airtel, the country’s largest mobile service provider, dropped eight percent to Rs.2,055 crore for the quarter ended March compared to Rs.2,239 crore in the year-ago period.

Stiff competition among existing and new entrants has seen players slash call rates and introduce schemes like per second billing, which has eaten … Read this article on Gaea Times at : Cheap call rates eat into Bharti Airtel profits.

West Bank official says new law banning Palestinian work in settlements won’t be enforced soon

No penalties yet for Palestinian settlement work

RAMALLAH, West Bank – The Palestinian economics minister says a new law banning Palestinians from working in Israeli settlements will not be immediately enforced.
The law, which also bans the sale of Israeli products made in the settlements, was signed by Palestinian President Mahmoud Abbas this week. Violators face up … Original article on : West Bank official says new law banning Palestinian work in settlements won’t be enforced soon.

Asian markets fall as global sell-off spreads amid Europe debt crisis; Tokyo down 2.5 pct

Asian markets fall amid European debt worries

HONG KONG – A global markets sell-off spread to Asia Wednesday, sending the region’s stocks lower amid fears the worsening European debt crisis would throw the world economic recovery off track.
Selling was widespread across Asia after European and U.S. markets tumbled overnight. The euro, after plummeting to levels not …. Original article on Gaea Times at  : Asian markets fall as global sell-off spreads amid Europe debt crisis; Tokyo down 2.5 pct.

BlackBerry plans to hit 100-million user base

TORONTO – Facing fierce competition from Apple’s iPhone, BlackBerry maker Research In Motion (RIM) Tuesday announced it will more than double its customer base.

Currently, BlackBerry has 41 million users globally – almost three percent of the world’s mobile phone market.
Calling its base of 41 million customers “a good start,” RIM president and co-CEO Mike … Original article on : BlackBerry plans to hit 100-million user base.