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HindustanTimes Wed,23 Apr 2014

Business

GM seeks US court protection against ignition lawsuits

General Motors
General Motors Co filed a motion in a US court to enforce a bar on lawsuits stemming from ignition defects in cars sold before its 2009 bankruptcy as it fights proposed class action litigation that seeks to set aside the restriction.

Rupee breaches 61-level, down 30 paise against dollar

Currency

The rupee breached the 61-level by falling 30 paise to trade at over one-month low of 61.06 against the US dollar in early trade on Wednesday at the Interbank Foreign Exchange market due to increased demand for the American currency from importers.

Sensex hits new record high of 22,869.85

Bombay Stock Exchange
Continuing its record-breaking spree, the benchmark BSE Sensex hit another lifetime high of 22,869.85 on Wednesday as stocks of capital goods, IT, healthcare and auto sectors led the rally on capital inflows amid a firming trend overseas.

HCL pips Wipro, Infy with wider base, Europe edge

HCL
HCL Technologies, once a laggard among India’s IT leaders, has been nosing ahead of bigger rivals Infosys and Wipro quarter after quarter, and its secret sauce is diversification.

India businesses unlikely to be affected immediately

Novartis Logo
While Novartis AG, GlaxoSmithKline and Eli Lilly are unclear about the long-term impact of deal on their India businesses, there is unlikely to be any direct or immediate impact.

TCS forms pathbreaking IT venture with Mitsubishi

Tata Consultancy Services
Tata Consultancy Services (TCS) and Mitsubishi Corp on Monday announced a joint venture that could be a trendsetter for Indian companies in addressing a huge Japanese market that has been by and large not tapped by the nation’s IT industry.

Leela to sell Delhi, Chennai hotels for Rs. 1,900 crore

The Leela Palace
Hotel Leelaventure Ltd is looking to sell its properties in Delhi and Chennai to sovereign wealth funds of Abu Dhabi and Qatar for about Rs. 1,900 crore, a move that would help the group bring down its debt.

Sensex hits record high; BHEL jumps

Bombay Stock Exchange
The BSE Sensex gains 0.1% and the Nifty is up 0.04% after earlier touching a record high for the second consecutive session.

GSK, Novartis unveil major billion-dollar drug deal

Pills
British pharmaceutical giant GlaxoSmithKline and Swiss peer Novartis announced a major shake-up of their healthcare divisions on Tuesday in deals worth billions of dollars.nt GlaxoSmithKline is to sell its oncology business to peer Novartis for $16 billion and to buy the Swiss company's vaccines division, GSK announced on Tuesday.

Novartis, GSK, Eli Lilly in $27-bn three-way deal

Novartis Logo
British pharma giant GlaxoSmithKline and Swiss peer Novartis announced a major shake-up of their healthcare divisions on Tuesday in deals worth billions of dollars.

Goa mines return to new ground reality

Goa mining
Now that the Supreme Court has lifted a 19-month-old ban on mining in Goa, HT looks at the nitty gritty of the order, and how soon can the state start shipping out iron ore. Goa mining won’t start just yet

2G case: Court to record statements from May 5

A Raja
A Delhi court on Monday fixed May 5 for commencement of recording of statements of former Telecom Minister A Raja, DMK MP Kanimozhi and 15 others facing trial in the 2G spectrum allocation case.

HUL, Britannia, Marico  forced to hike prices

FMCG

FMCG seem to have hit a speed breaker as consumers keep a check on spending amid the economic slowdown and high prices. With cost of raw materials rising sharply, FMCG companies are likely to report lower sales in this quarter.

Rupee near one-month low tracking broad dollar gains

Currency
The rupee is trading at 60.68/69 after hitting 60.71, its lowest since March 24. The pair closed at 60.59/60 on Monday, posting its biggest single-day gain in more than a month.

Case against Twitter alleging fraud dismissed

Twitter Inc has won the dismissal of an unusual lawsuit accusing the social media company of fraudulently arranging a private stock sale it never intended to complete, with a goal of stoking interest in its November 2013 initial public offering.

HDFC Bank Q4 posts 23% net profit growth, slowest in a decade

hdfc
HDFC Bank Ltd, India's third-biggest lender by assets, said its quarterly net profit rose 23%, the slowest growth in a more than a decade and slightly lower than estimates, as a weaker economy put the brakes on lending.
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