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Indians News On The Financial Market

February 27, 2012 Leave a comment

Can you think about investment without staying updated with financial market news? If you are an investor in the Indian money market, it is a must to stay updated with the A-Z of Indian news encompassing financial market news, stock news, Indian news  private equity news, and related paraphernalia. Millions of news freaks bank upon in.reuters.com; this portal publishes relevant news faster than other portals.

According to the latest stock news (7th Feb), the market was in the downtrend. While sensex closed at 17,621.45, down 85.86 points, nifty ended at 5,335.15, down 26.50 points. What about private equity securities that are not traded publicly on a stock exchange though these securities are of operating companies? There are many investors in this segment too. Staying updated with private equity news thus mater. You can well rely on in.reuters.com for the same.

According to the latest financial market news, especially under the Indian top news videos  section, budget is to be tabled on March 16, more than two weeks later than usual, on account of assembly polls in five states. Rupee beating emerging market currencies, India’s GDP seeing dipping to a 3-year low, sensex closing 85 points lower are top financial market news at the moment.

U.S. Bancorp Gets $18 Bln Seized Bank Assets

October 31, 2009 Leave a comment

U.S. Bancorp on Friday acquired nine banks held by FBOP Corp, picking up $18.4 billion in assets after regulators seized a major Los Angeles lender and eight other banks in the latest failures to emerge from the financial crisis.

Among the banks Minneapolis-based U.S. Bancorp acquired was Los Angeles-based California National Bank, taken over by regulators on Friday in what the Los Angeles Times called the fourth-largest U.S. bank failure this year.

Bank failures in 2009 hit 106 last week, their highest annual level since 1992, with more expected to come. The largest institution to fail in the current financial crisis was Washington Mutual, which boasted $307 billion in assets when it was shuttered in September 2008.

Visibly worried employees lined up to file into Cal National’s head offices in the heart of a deserted downtown Los Angeles on a chilly Friday evening, where they had their employers’ fate explained to them, regulators said.

“We’re getting ready to turn everything over to U.S. Bank,” said Roberta Valdez, a spokeswoman for the Federal Deposit Insurance Corp, which helped supervise the transfer of FBOP’s assets. “They will continue to operate as normal in the interim,” she added, referring to lenders acquired from FBOP.

U.S. Bancorp — which has been buying up distressed assets this year — is picking up eight other lenders once owned by FBOP, a private Illinois group with over $18 billion in assets that owns banks in Texas, Illinois, Arizona and California.

Cal National is FBOP’s largest bank by branches. Others that will now go under the U.S. Bancorp umbrella included BankUSA, Citizens National Bank, Madisonville State Bank, North Houston Bank, Pacific National Bank, Park National Bank, San Diego National Bank, and the Community Bank of Lemont.

“This transaction is consistent with the growth strategy that we have outlined many times in the past, which includes enhancing our existing franchise through low-risk, in-market acquisitions,” said Rick Hartnack, vice chairman of consumer banking for U.S. Bancorp.

Categories: money news

Reliance Comm in Talks for Zain’s Africa Ops

August 18, 2009 Leave a comment

According to Money News Reliance Communications, India’s No. 2 mobile operator, is in preliminary talks to buy Kuwaiti telecoms firm Zain’s African operations, two banking sources with knowledge of the development said, in a deal reported to be worth $10 billion.

The Kuwaiti firm said last month it was reviewing a possible sale of its African operations — minus Morocco and Sudan — after French media and telecoms giant Vivendi called off talks to buy a majority stake in the African business.

Zain Chief Executive told Kuwait daily newspaper Al-Rai that the firm was in talks with three major telecoms firms, including one from India, to sell all or part of its African operations. Read More..

Categories: money news

Seesaw of Rupee Continues…

May 20, 2009 Leave a comment

According to a latest Money Market News the rupee was showing ups and downs on Wednesday, tailing a volatile stock market, after rallying 4.3 percent in the previous three sessions.

At 10:38 a.m. (0508 GMT), the partially convertible rupee was at 47.73/75 per dollar, little changed from its Tuesday’s close of 47.75/77.

A comfortable victory for the ruling coalition in national elections had boosted Indian markets, sending the main stock index up 17.5 percent in two days on hopes for economic reforms and more foreign investment.

However, profit-taking kept the Stock Market choppy in early trade and this dominated the foreign exchange market, dealers said.

Categories: money news