The Economic Times

PNGRB has no power to regulate tariff: HC

Fri, 01 Jun 2012 22:57:39 GMT

The Delhi high court on Friday ruled in favour of Delhi gas utility Indraprastha Gas Ltd (IGL), stating the government regulator had no jurisdiction to fix rates or regulate tariff.

Petrol price cut looks immminent

Fri, 01 Jun 2012 22:26:07 GMT

Brent crude oil was trading at $98.2 a barrel on Friday evening, down from about $119 a month ago.

Wall St sinks on US jobs data, Dow negative for 2012

Fri, 01 Jun 2012 22:04:01 GMT

The S&P 500 closed at its lowest since early January and ended below its 200-day moving average for the first time in 2012.

Gold vaults 4 per cent for biggest 1-day rise in 3 years

Fri, 01 Jun 2012 21:56:28 GMT

Gold rose 3.5% this week, its largest gain since late January, when investors were already fretting over a possible Greek exit from the euro zone.

Aakash 2, the cheapest tablet PC, misses May-end deadline

Fri, 01 Jun 2012 21:55:46 GMT

India has missed yet another deadline for the launch of much-hyped world's cheapest tablet PC - Aakash 2 - the dream project of Kapil Sibal.

Government unwilling to talk on coal pricing: TCI

Fri, 01 Jun 2012 21:39:43 GMT

"Our losses, deriving from the government's interference in CIL's pricing of coal alone, have been very substantial," said Derbyshire.

Andhra govt cancels pact with Brahmani Steels

Fri, 01 Jun 2012 21:19:33 GMT

Brahmani Steels had, in May 2007 during the regime of late chief minister YS Rajasekhara Reddy, obtained around 14,700 acres for its proposed 2 million tonne steel project with an option to expand to 10 mt in phases.

Google to make product search a paid service

Fri, 01 Jun 2012 20:44:29 GMT

Google's free 'product search' would soon be a paid service in the US under which merchants and retailers will have to pay for listings of products.

Templeton opposes Sesa Goa merger plans

Fri, 01 Jun 2012 20:38:30 GMT

Sesa Goa has called an EGM on June 19 to put the merger process to vote, and Templeton, which holds a 13% stake, is trying to muster adequate support to block the resolution.

Sensex crashes 253 pts; rupee climbs 54 paise

Fri, 01 Jun 2012 20:28:06 GMT

Benchmark indices fell on Friday as worries about the economy’s health exacerbated with data showing trade deficit in April widened.

Scavenger funds to make a killing on bad loans

Fri, 01 Jun 2012 20:17:17 GMT

Edelweiss and IARC are planning to raise Rs 500 crore and Rs 300 crore, respectively, to capitalise their asset reconstruction funds.

Rich nations should be more generous: Gates

Fri, 01 Jun 2012 20:00:43 GMT

Gates was uninhibited in expressing his deep concerns about the future role of foreign aid in the developmental process, especially in these trying times.

Exporter sops: No common ground for FM, Sharma

Fri, 01 Jun 2012 19:30:17 GMT

The finance and commerce ministries have not yet found common ground on exporter sops a week before the foreign trade policy is to be announced.

Obama blames Europe, energy prices for slow US job growth

Fri, 01 Jun 2012 19:00:25 GMT

President Barack Obama said the US economy was still fighting its way back to full health and was not yet growing or creating jobs fast enough.

Facebook to let users vote on privacy changes

Fri, 01 Jun 2012 18:54:39 GMT

Facebook said it is still interested in getting user feedback on its policies, but it is reviewing how best to do so.

Global financial majors lower India growth prospects

Fri, 01 Jun 2012 18:47:25 GMT

In their reports to clients worldwide, most of them blamed policy inaction by the government as a major roadblock to the Indian economy.

P-note investments at all-time low in April

Fri, 01 Jun 2012 18:46:01 GMT

The share of p-notes in total investments by foreign institutional investors (FIIs) in April was at 7.9% - the lowest monthly reading in seven years.

Talking to various CMs on FDI in retail: A Sharma

Fri, 01 Jun 2012 17:22:05 GMT

Anand Sharma said he is reaching out to the State CMs to build a consensus on opening up multi-brand retail sector for foreign investment.

Dharmadhikari report highlights bias, prejudice: IPG

Fri, 01 Jun 2012 17:13:11 GMT

IPG said the Dharmadhikari report highlights the "prejudice and bias" that airline management harbours against the erstwhile Air India employees.

Gold vaults 3% to above $1,600 on jobs report

Fri, 01 Jun 2012 17:00:47 GMT

Gold rallied more than 3%, its biggest one-day rise in more than 2 yrs, as bleak US jobs data & deepening euro zone crisis triggered safe-haven buying.

Facebook to let users vote on privacy changes

Fri, 01 Jun 2012 16:31:03 GMT

Facebook is letting its nearly 1 billion users vote on changes to its privacy policy beginning on Friday.

Microsoft to defer revenue from Windows upgrade offer

Fri, 01 Jun 2012 16:24:29 GMT

Microsoft said it will defer the $450 mn to $550 mn of revenue it expects to generate this quarter from an offer to upgrade to its new Windows 8 system.

US stocks plunge; Nasdaq down 2.1%

Fri, 01 Jun 2012 16:08:48 GMT

US stocks plunged after a surprisingly weak jobs report added to fears about a global economic slowdown and sent Dow into negative territory.

World growth under threat as US employment sputters

Fri, 01 Jun 2012 15:59:58 GMT

The Labor Dept report dealt blow to confidence in US recovery, which until recently had contrasted with Europe's deteriorating economic situation.

Oil cos under pressure to cut petrol prices as global oil falls below $100

Fri, 01 Jun 2012 15:57:13 GMT

Officials in the govt and oil cos say petrol prices will be reduced by more than Rs 2 a litre in next couple of days but its timing will be decided politically.