Reuters: Money News

Oil falls below $124 after bearish Chinese data

Tue, 13 May 2008 08:26:10 +0530

SINGAPORE (Reuters) - Oil fell below $124 a barrel on Tuesday as a year-on-year fall in China's April oil imports, the first time in 18 months, raised questions over demand in the world's second largest oil consumer.

Bharti seeks Middle East funds for MTN bid - WSJ

Tue, 13 May 2008 08:10:49 +0530

SINGAPORE (Reuters) - India's leading mobile operator Bharti Airtel Ltd has contacted Middle Eastern sovereign wealth funds in a search for additional cash to back a bid for a majority stake in South Africa's MTN Group Ltd, the Wall Street Journal reported on Tuesday, citing people familiar with the situation.

HP in talks to buy EDS to compete with IBM

Tue, 13 May 2008 06:12:21 +0530

NEW YORK/SAN FRANCISCO (Reuters) - Hewlett-Packard Co is in talks to buy technology outsourcing company Electronic Data Systems Corp for $12 billion to $13 billion in a deal which would vault it to a close second to IBM in technology services.

Nikkei up 0.6 pct, exporters gain on softer yen

Tue, 13 May 2008 08:21:11 +0530

TOKYO (Reuters) - Japan's Nikkei share average rose 0.6 percent on Tuesday, tracking overnight gains on Wall Street, led by exporters such as Canon Inc on a softer yen.

Indian factory output weakens, tightening pause seen

Mon, 12 May 2008 16:04:23 +0530

NEW DELHI (Reuters) - India's industrial output grew at its weakest rate in six years in March, knocking the rupee to a one-year low and fanning speculation the central bank may hold off with more tightening in its battle with soaring inflation.

Rice prices rising despite record world crop

Mon, 12 May 2008 20:03:14 +0530

MILAN (Reuters) - World rice production will hit a record high this year but increasing demand and restrictions on exports will keep prices high, the United Nations Food and Agriculture Organisation said on Monday.

NTPC eyeing stakes in Indonesia coal mines

Mon, 12 May 2008 19:05:44 +0530

NEW DELHI (Reuters) - State-run NTPC Ltd, India's top power producer, is looking to buy majority stakes in Indonesian coal mines with reserves of up to 300 million tonnes to secure supplies and manage costs, its chairman said on Monday.

U.S., Brazilian negotiatiors to discuss Doha in Rome

Mon, 12 May 2008 21:24:00 +0530

WASHINGTON (Reuters) - U.S. Trade Representative Susan Schwab will meet Brazilian Foreign Minister Celso Amorim in Rome to discuss global trade talks, which negotiators hope to push toward a conclusion in the next several weeks.

U.S. STOCKS - Wall St finishes up more than 1 pct on tech

Tue, 13 May 2008 01:41:26 +0530

NEW YORK (Reuters) - U.S. stocks closed sharply higher on Monday as the introduction of a faster BlackBerry spurred optimism about business spending on technology while cooling oil prices eased inflation concerns.

Rupee weakens past 42/dollar as data weighs

Mon, 12 May 2008 18:02:11 +0530

MUMBAI (Reuters) - The rupee weakened past 42 per dollar for the first time in more than a year on Monday after data showing factory output grew at its slowest in six years raised concerns about a slowdown in the economy.