IPO News
Birla Cotsyn IPO subscribed 0.81 times
The IPO of Birla Cotsyn has received total bids 7,29,33,350 equity shares as against the total issue size of 8,96,08,333 equity shares and is subscribed 0.81 times as per NSE website.
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IMF chief unsure if worst of financial crisis is over
TOYAKO, Japan (Reuters) - It is hard to know how far the global financial crisis still has to run, with the extent of further credit losses dependent on what happens to the U.S. housing sector, IMF chief Dominique Strauss-Kahn said on Wednesday.

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EU to introduce legislation to oversee ratings agencies
BRUSSELS (Reuters) - European Union finance ministers agreed to introduce legislation to oversee credit rating agencies after the U.S. subprime crisis highlighted the industry's failures.

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Higher debt and weaker consumers to hurt retailers
LONDON (Reuters) - Retailers are in danger of becoming one of the leading victims of the credit crisis, with the cost of insuring their debt against default on the rise due to their exposure to heavily indebted consumers.

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Round-up of Wednesday's business pages
LONDON (Reuters) - Here is a round-up of the main stories from the business pages on Wednesday.

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JPM CEO says Wall St. losses not due to accounting
Stock Buzz ), on Tuesday took aim at top Wall Street executives who claim the recent credit crisis and widespread bank loses were mainly due to accounting changes requiring extensive markdowns.
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FOREX-Dollar holds gains after relief from Bernanke, oil
TOKYO, July 9 (Reuters) - The dollar held steady on Wednesday after rebounding the previous day on a slide in oil prices and after Federal Reserve Chairman Ben Bernanke assured investors the centra...
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Japan gasoline price hits record above 180 yen/litre
TOKYO, July 9 (Reuters) - Japan's retail regular gasoline prices jumped to a record high above 180 yen per litre due to soaring crude oil prices, a research body said on Wednesday.
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China Hangzhou city plans $730 mln industrial fund
HANGZHOU, China, July 9 (Reuters) - China's Hangzhou city plans to set up a 5 billion yuan ($730 million) fund to invest in industrial projects and a 560 million yuan venture capital fund to suppor...
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IndyMac depositers seek cash, comfort at branches
Ducharme and other IndyMac customers said they feared it could follow in the footsteps of failed rivals New Century Financial Corp and American Home Mortgage Investment Corp. In Pasadena and at ano...
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Gold extends losses on dollar, near 2-week low
SINGAPORE, July 9 (Reuters) - Gold fell further on Wednesday after a drop in oil prices and a rebound in the U.S. dollar triggered selling from speculators.
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