Ten of America's 19 largest banks will need to raise a total of $74.6 billion in capital, federal officials have announced, bringing an end to relentless speculation about how much more money the nation's leading banks would need to withstand the recession. full story
* The U.S. economy probably shed more than half a million jobs in April, but the pace of job destruction is slowly easing, economists say ahead of the release of the government's report on nonfarm payrolls on Friday
* Many members of the Bank of Japan's policy board said at last month's meeting that the deterioration of the global economy is showing signs of slowing in some places.
*Japanese auto giant Toyota is expected to post a larger-than-forecast operating loss of about $5 billion, the Nikkei reports.
* Media tycoon Rupert Murdoch expects News Corporation-owned newspaper Web sites to start charging users for access within a year in a move which analysts say could radically shake-up the culture of freely available content.
* The protectionist measures of the US government is a matter of concern, said Azim Premji, chairman, Wipro, India’s third-largest software services exporter. The steps proposed were contrary to the statements made by the US President on expanding free trade at the recently held G20 summit, Mr Premji added.
* India's largest real estate company DLF will have to pay additional tax of Rs 300-400 crore to the government for the financial year Tax (I-T) department in a special investigation found that the realty company’s books showed an income lower by Rs 1,200 crore for the given year. DLF was issued a directive in this regard on Wednesday.
* With the global economic crisis hitting Asia hard, the International Monetary Fund (IMF) expects India's growth to slow markedly in 2009 before starting to rebound toward year end.
* The U.S. economy probably shed more than half a million jobs in April, but the pace of job destruction is slowly easing, economists say ahead of the release of the government's report on nonfarm payrolls on Friday
* Many members of the Bank of Japan's policy board said at last month's meeting that the deterioration of the global economy is showing signs of slowing in some places.
*Japanese auto giant Toyota is expected to post a larger-than-forecast operating loss of about $5 billion, the Nikkei reports.
* Media tycoon Rupert Murdoch expects News Corporation-owned newspaper Web sites to start charging users for access within a year in a move which analysts say could radically shake-up the culture of freely available content.
* The protectionist measures of the US government is a matter of concern, said Azim Premji, chairman, Wipro, India’s third-largest software services exporter. The steps proposed were contrary to the statements made by the US President on expanding free trade at the recently held G20 summit, Mr Premji added.
* India's largest real estate company DLF will have to pay additional tax of Rs 300-400 crore to the government for the financial year Tax (I-T) department in a special investigation found that the realty company’s books showed an income lower by Rs 1,200 crore for the given year. DLF was issued a directive in this regard on Wednesday.
* With the global economic crisis hitting Asia hard, the International Monetary Fund (IMF) expects India's growth to slow markedly in 2009 before starting to rebound toward year end.
