Markets News

The head of state-owned conglomerate Russian Technologies said on Saturday French car maker Renault might raise its 25 pct stake in troubled Russian partner Avtovaz in future, but won't do so for now.

Indian energy giant Reliance Industries has made a non-binding cash offer to buy a controlling interest in bankrupt petrochemicals company LyondellBasell Industries, LyondellBasell said on Saturday.

President Barack Obama on Saturday urged Americans to show patience over the economy and argued that his just-concluded Asia trip was critical for U.S. exports, countering criticism he had returned empty-handed.

NEW DELHI (Reuters) -India, the world's second biggest rice grower, plans to sell the grain in local markets from reserves to douse fears of shortage caused by the worst monsoon in three decades, Farm Minister Sharad Pawar said on Saturday.

U.S. chocolate maker Hershey is considering launching a bid of at least $17 billion for British chocolatier Cadbury Plc as it seeks to trump a hostile offer by Kraft Foods Inc, a source familiar with the matter said on Friday.

The Senate Banking Committee said on Friday it will hold a hearing on Federal Reserve Chairman Ben Bernanke's renomination to a second term on Dec. 3, putting the central bank chief under scrutiny at a time when the Fed is facing intense criticism in Congress.

U.S. electric sports car maker Tesla Motors plans to go public soon, two sources familiar with the matter said, amid growing interest in green technology and battery-powered vehicles.

U.S. chocolate maker Hershey Co is considering launching a bid of at least $17 billion for British chocolatier Cadbury Plc in an effort to outstrip a hostile offer by Kraft Foods Inc, a source familiar with the matter said on Friday.

The charitable trust that controls Hershey Co is pushing the company to launch a rival $17 billion bid for Cadbury Plc, the Wall Street Journal reported on Friday, citing people familiar with the matter.

Nominees for key U.S. Treasury international posts pledged on Friday to work to persuade China to change its currency practices to allow critical adjustments in global trade and economic balances.

Oil prices slipped nearly 1 percent to below $77 a barrel on Friday as a stronger dollar weighed on prices and falling equities raised concern about the economy and the outlook for energy demand.

U.S. electric sports car maker Tesla Motors plans to go public soon, two sources familiar with the matter said, amid growing interest in green technology and battery-powered vehicles.

The Senate Banking Committee will hold a confirmation hearing on Federal Reserve Chairman Ben Bernanke's nomination to a second term as chief of the U.S. central bank Dec. 3, the panel said on Friday.

A former French foreign minister is expected to take charge of financial services in the European Union, diplomats said, a move that would unsettle bankers worried he may take a hard line with the industry.

Weaker-than-expected results from computer maker Dell and homebuilder D.R. Horton helped push stocks lower on Friday as Wall Street headed for its third straight day of losses.

India will change a new sugarcane pricing rule that provoked protests, putting the onus back on mills to pay the difference if state governments raise floor rates fixed by the central government.

India evaded the eye of the storm that sucked the global economy into the worst downturn since the Great Depression, and has emerged, along with China, as a leader of the nascent worldwide recovery.

The Reserve Bank of India (RBI) has sought a revised offer document from Essar Communication Holdings that details how it plans to use funds raised in a $920 million bond issue, two sources with knowledge of the development said.

Hedge fund Galleon, which is winding down its funds after its founder was accused of heading an insider trading ring, has sold its holding in Edelweiss Capital, stock exchange data showed.