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Market News From 15Aug2011 to 03Sep2011-VRK100

Market News From 15Aug2011 to 03Sep2011-VRK100

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Rama Krishna Vadlamudi, Hyderabad, compiled Market News sourcing news from International, Indian Industry, Tablets Usage, Stock Indices, etc., from 15Aug2011 to 03Sep2011.
Rama Krishna Vadlamudi, Hyderabad, compiled Market News sourcing news from International, Indian Industry, Tablets Usage, Stock Indices, etc., from 15Aug2011 to 03Sep2011.

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Categories:Business/Law, Finance
Published by: RamaKrishna Vadlamudi on Sep 08, 2011
Copyright:Attribution Non-commercial

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09/08/2011

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Market News from 15Aug2011 to 03Sep2011
International:
--- Hewlett-Packard’s share price fell by 20 per cent after it announced that it wanted to buy UK’sAutonomy for $11.7 billion. HP further said it would sell its personal computer and tablet business.--- Spain has cut property taxes by half to 4 per cent to boost the sagging housing market--- Bank of America will cut 3,500 jobs during this quarter--- UBS will cut 3,500 jobs--- Warren Buffett is buying shares of Bank of America for $ 5 billion--- Warrant Buffett has asked US lawmakers to raise taxes on the country’s superrich to help cut the budgetdeficit. He said, “My friends and I have been coddled long enough by a billionaire-friendly Congress. It’stime for our government to get serious about shared sacrifice.” He argues that higher taxes for the rich willnot discourage investment.--- Steve Jobs steeped down as CEO of Apple Inc and he was replaced by Timothy Cook --- Moody’s Investors Service has cut Japan’s government debt rating by one notch to Aa3 from Aa2--- Japan has set aside $ 100 billion to stem the rise of Yen against the US dollar--- Japan’s public debt is 229% of GDP in 2011 versus 220% in 2010--- Gold price reached an all-time peak of $ 1,918 on 23 August--- Google Inc said it would buy Motorola Mobility fro $ 12.5 billion which would give Google access toabout 23,000 patents of Motorola--- Gross public debt as a % of GDP for 2011: Australia 7, Malaysia 55.1, Pakistan 54.1, the Philippines 47,Thailand 43.7, Indonesia 25.4 and China 16.5
US Economy
--- Unemployment is very high at 9.1 per cent--- Fiscal deficit is very high--- Housing sector is weakening continuously--- Some Republican party members are trying to blackmail the President on economic issues--- US economy is experiencing high exports growth--- Business investment in equipment and software is expanding--- Economic growth since the 2007 financial crisis is lesser than expected
Indian Industry
--- Car sales in August month fell for Maruti Suzuki, Hyndai Motor India and Tata Motors recording adecline of 17%, 7% and 33% respectively, compared to the sales in the same month of last year--- Two-wheeler sales in August month rose for Hero MotoCorp and TVS Motors, showing an increase of 19% and 14% respectively--- KR Kamath, CMD of Punjab National Bank is opposing savings bank interest rate deregulation--- Basel III norms are likely to erode banks’ profitability and may affect their return on equity--- According to a report by Ernst & Young, public sector banks might together face a capital shortfall of Rs 1.07 lakh crore by 2015 as they have to meet Basel III norms from 2013 onwards--- Enforcement Directorate is enquiring into alleged violation of FEMA norms by Bharti Airtel--- The stock price of Everonn Education fell 20% after its MD P.Kishore was arrested by CBI on chargesof bribing an income tax official to conceal income--- BP completed the acquisition of 30% stake in 21 oil and gas production sharing contracts operated byReliance Industries
Stock Indices
--- Heavy selling pushed down Sensex on 26 August 2011 with Sensex ending at 15,849 for the day--- On 29 August 2011, NSE launched derivatives trading on S&P 500 and Dow Jones Industrial Average

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