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Growing India Economy | Daily Indian Economy Updates
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Market and analysts split over Fed cut
CHICAGO/WASHINGTON: The size of this month’s widely expected Federal Reserve interest rate cut is suddenly less certain, given conflicting reports on US economic conditions. Financial dealers on Wednesday trimmed bets that the Fed will take...
Merrill quits subprime lending, cuts 650 jobs
NEW YORK: Merrill Lynch said it will eliminate 650 jobs as it stops making subprime mortgages through its First Franklin Financial unit. New York-based Merrill said it is quitting the subprime lending business because of the deteriorating marke...
Carrefour to return $6.88 b to investors as profits rise
PARIS: Carrefour, the world’s No 2 retailer, said on Thursday it aimed to return around $6.88 billion to investors in coming years as it reported slightly higher 2007 profits and faster growth in 2008. One year after a board room bust-up and Fr...
Carlyle fund gets default notice
SAN FRANCISCO: Carlyle Group’s publicly-traded mortgage bond fund failed to meet margin calls and said it received a notice of default. Carlyle Capital missed four of seven margin calls yesterday totaling more than $37 million, the Guernsey...
SEC charges Fidelity, Lynch in gifts probe
BOSTON: Star fund manager Peter Lynch of Fidelity Investments was charged on Wednesday in a widening gift-taking scandal involving brokers seeking to win business from the world's biggest mutual fund company. Boston-based Fidelity agreed to pay...

