Saturday, October 11, 2008

Business News

Business News

India mulls more cash injection measures - paper

Posted: 12 Oct 2008 12:56 AM CDT

MUMBAI (Reuters) - India may resort to more cuts in banks' cash reserve requirements, pare interest rates and prod banks to step up lending to top firms to tide over a severe cash crunch, the Times of India newspaper reported on Sunday.

Australia guarantees bank deposits to combat crisis

Posted: 12 Oct 2008 12:34 AM CDT

CANBERRA (Reuters) - Australia will guarantee all bank deposits for three years and guarantee wholesale funding to Australian banks in an attempt to combat the global credit crisis, Australian Prime Minister Kevin Rudd said on Sunday.

Australia to guarantee bank deposits for three years - PM

Posted: 11 Oct 2008 11:53 PM CDT

CANBERRA (Reuters) - Australia will guarantee all bank deposits for three years and will also guarantee wholesale funding to Australian banks in an attempt to combat the global credit crisis, Australian Prime Minister Kevin Rudd said on Sunday.

Fashion brand Tommy Hilfiger aims at 40 outlets by 2009

Posted: 11 Oct 2008 11:11 PM CDT

New Delhi, Oct 12 (IANS) Riding on a burgeoning middle class with deep pockets, international fashion brand Tommy Hilfiger aims to ramp up its outlets in India to 40 by next year, up from the 30 it has opened in the four years since it launched in the country.

IMF warns of meltdown; France says Europe to act

Posted: 11 Oct 2008 10:51 PM CDT

By Lesley Wroughton and James Mackenzie

AIG's gallows humor gives bankers a laugh

Posted: 11 Oct 2008 10:40 PM CDT

WASHINGTON (Reuters) - Insurance giant American International Group, on the receiving end of a multi-billion dollar bailout from the U.S. Federal Reserve, was trying hard on Saturday to look on the bright side of life.
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