Business News

A majority of stock brokers want the Bombay Stock Exchange to continue with the same market timing and see no volume benefit in extending market hours, a survey by the exchanges' brokers forum showed.

Unitech Ltd, India's second-largest real estate firm, has sought approval from the government and the central bank to raise $700 million through foreign currency bonds, the Economic Times reported on Wednesday.

Gold hit fresh record highs on Wednesday, topping the previous highs marked earlier this week, boosted by investment demand stemming from inflation worries.

Participants in the International Monetary Fund's crisis credit facility agreed to expand it by up to $100 billion, add new contributing countries and make the facility more flexible, the IMF said on Tuesday.

Swift interest rate hikes aimed at containing inflation in product and asset prices could cause another downturn in the slowly recovering economies of the United States and Europe, the head of the World Bank said.

China Petroleum & Chemical Corp., the nation's biggest oil refiner, and U.S. buyout firm TPG have weighed a bid for bankrupt chemicals company LyondellBasell Industries that could rival Reliance Industries offer of about $12 billion, Bloomberg reported.

Playboy Enterprises Inc will outsource all its publishing operations except for editorial to American Media Inc in a bid to cut costs and return its namesake magazine to profitability in two years.

The Washington Post is closing its last U.S. bureaus outside the nation's capital as the money-losing newspaper retrenches to focus on politics and local news.

The Washington Post is closing its bureaus in Chicago, Los Angeles and New York as the money-losing newspaper retrenches to focus on politics and local news in the nation's capital.

A deal for General Motors Co to sell Saab collapsed on Tuesday when the buyer pulled out in a move that threatens a 60-year-old Swedish auto brand with closure after mounting losses.

Toyota Motor Corp will recall about 110,000 older model Tundra pickup trucks in the United States due to corrosion problems, the U.S. government and the automaker said on Tuesday.

World stocks pared losses on Tuesday after the Federal Reserve revised upward its growth estimates for 2010, while the dollar rose on data showing the U.S. economy grew at a slower pace than expected in the third quarter.

Federal Reserve officials are increasingly confident the U.S. economic recovery will be durable, but do not see employment or inflation picking up soon, minutes from their November meeting showed.

Federal Reserve officials are increasingly confident the U.S. economic recovery is sustainable, even if they do not see employment picking up soon, minutes from their November meeting showed.

U.S. stocks were mostly flat in low volume on Tuesday as the Federal Reserve lifted its growth estimates for 2010, offsetting data that showed the economy grew at a slower-than-expected pace in the third quarter.

The United States and India will establish a new economic partnership which U.S. Treasury Secretary Timothy Geithner will help formally launch in India early next year, the White House said on Tuesday.

Half of the losses suffered by banks could still be hidden in their balance sheets, more so in Europe than in the United States, the International Monetary Fund's chief, Dominique Strauss-Kahn, was quoted as saying on Tuesday.

The White House said on Tuesday that the United States and India would establish a new economic partnership and that U.S. Treasury Secretary Timothy Geithner would travel to India for its launch early in 2010.

Federal Reserve officials are increasingly confident the U.S. economic recovery is sustainable, but they do not see employment picking up soon, according to minutes from their November meeting released on Tuesday.

(Deletes Mukesh Ambani, chairman of Reliance Industries, Ltd. Ambani had to travel back to India today.)