BP denied a report its embattled chief executive would leave soon, as it lined up $7 billion in asset sales to help pay for the worst oil spill in U.S. history, lifting its shares on Wednesday.
Nokia Siemens Networks has won an eight-year contract worth more than $7 billion with an upstart U.S. operator looking to build a high-speed wireless network to offer wholesale services in the fiercely competitive market.
Gold pared losses to turn higher after hitting its lowest in about two months in Europe on Tuesday as risk aversion returned to the wider markets after Goldman Sachs earnings disappointed investors.
A weak technical picture is weighing, but interest from physical buyers is helping limit losses, analysts said.
Exports from India rose sharply by 32.2% in the first quarter of this fiscal to $ 50.8 billion and growth rate in June alone was 30.4% to US $ 17.75 billion as compared to $ 13.5 billion during June 2009.
India's Commerce Secretary, Rahul Khullar stated that the first quarter (April-June 2010-11) exports reached a level of US $ 50.8 billion at a growth of 32.2% while the imports were $ 83 billion with a growth of 34% and a trade deficit of $ 32.2 billion.
Gold held above $1,180 an ounce in Europe on Tuesday as lower prices tempted some buyers back to the market after prices slipped to two-month lows in the previous session, but the technical picture remained weak.
Gold has been pressured by concerns over deflationary signals from the United States and other economies, analysts said, while a recovery in appetite for assets seen as higher risk has also deflected some investment from the precious metal.
Emerging markets were in high demand in mid July, with bond fund inflows at a record, as investors chose dynamic developing economies over lagging advanced markets, EPFR Global said on Tuesday.
Emerging market equity funds tracked by EPFR posted combined inflows of more than $3 billion for the week ended July 14, while emerging market bond funds took in $745 million, bringing their year-to-date inflows to an all-time high of $18.5 billion.
China sounded a gloomy note on Tuesday about its export prospects, warning in particular that belt-tightening by deeply indebted European Union governments would dampen demand for the country's goods.
India's Tata Steel has started talks with lenders including Citigroup to refinance as much as 3.5 billion pounds ($5.4 billion) in loans for its British unit, Bloomberg reported, citing six sources with knowledge of the matter.
In a bid to encourage gold trading and build collaborative relationships for developing gold market in Saudi Arabia, the top leadership of the World Gold Council (WGC) will make its visit to the Kingdom state this week.
With the festival season nearing and the gold prices slightly falling, gold traders have returned to the bullion market and started stocking up the metal for the coming festival demand.
Good fall in prices has led to good demand. There were deals at all levels from $1,200/1,190/1,186 (an ounce).
Private equity firms TPG and Carlyle won a bidding war for Australian hospital owner Healthscope Ltd , agreeing to pay $1.73 billion in the country's largest buyout deal since 2007.
With open interest in cardamom futures surging, rumors of a ban on the contract also started circulating until Forward Markets Commission clarified that there would be no ban on cardamom futures.
Australia's Healthscope Ltd on Monday recommended a $1.73 billion takeover offer from private equity firms TPG and Carlyle following a bidding war for the nation's second-largest hospital owner.
A drop in consumer confidence in Europe amid worries about the region's debt crisis is holding back a recovery in global consumer sentiment and weighing on the broader economic outlook, a survey showed on Sunday.
India's gold imports are likely to improve this year from the 2009 level. According to reports, India is likely to import 500-550 tonnes of gold in 2010, up from 480-490 tonnes from a year earlier, and prices of the yellow metal are expected to remain firm.
Amid slowing down economic growth in the country, the Chinese iron ore imports may further get a dent as the Indian government is reported to be considering a ban on iron ore exports so as to safeguard its domestic industry. In a latest statement from the steel secretary, Atul Chaturvedi, it was proposed that a ban should be imposed on exports of iron ore so as to preserve the non-renewable energy resource for local industry.
China's lukewarm response to copper imports has hit the commodity's prices in the London market. This week copper traded a bit low in London as China reported a drop in copper imports for the third straight month in June, leading to caution on the demand outlook by the key buyer of the metal.
It seems the fate of gold is depended on central banks across the world. Till now, economic crisis looming over the global economy has been the biggest boost for gold prices as more and more people rushed to buy gold as a safe haven option.
Till now India has been the biggest consumer of gold but gold exchange traded funds (ETFs) were not much popular in India.
However, things are changing fast in India. More and more people are now putting their money on Gold ETFs. As a sign of this, India's gold collection under exchange-traded funds rose 76 per cent in June from a year ago to 10.453 tonnes.
The United States and Europe are slowly pulling out of the economic crisis, General Electric Co chairman and chief executive Jeffrey Immelt told la Repubblica daily in an interview on Thursday.
China's economy cooled in the second quarter, a slowdown that is likely to extend over the rest of the year as Beijing steers monetary and fiscal policy back to normal after a record credit surge to counter the global crisis.
China's economy cooled in the second quarter, a slowdown that is likely to extend over the rest of the year as Beijing steers monetary and fiscal policy back to normal after a record credit surge to counter the global crisis.
