* British banking group HSBC will cut 30,000 jobs worldwide by 2013 and sell almost half its

retail bank branches in the US, part of a new strategy to focus on fast-growing emerging markets. *Telecom giant BhartiAirtel proposed an annual pay package of up to Rs 70 crore for its chief Sunil Mittal, besides other benefits, while seeking its shareholders' nod for his remuneration. *After threatening to cut oil supplies, Iran has said the row over payment for crude oil exports to India has been resolved after refiners started paying through a Turkish bank. *RBI Recognises the signs of a slowdown but says that it is essentially confined to sectors that are sensitive to interest rates. Even though inflation has remained persistently high, the RBI will act by raising the rates but by no more than 25 basis points. *In the first quarter under review policy rates were raised by another 75 basis points. This has raised operational policy rates by 425 basis points in a span of 15 months since mid-March 2010, one of the sharpest monetary tightening seen across the world. *With an aim to rein in insider trading by promoters without investors' knowledge, SEBI (Securities and Exchange Board of India) has decided to make it mandatory for all promoter entities to disclose any considerable purchase or sale of shares by them.

*Public sector banks' profits dip, private ones' grow strongly: Public sector banks (PSBs) have seen a drop in profits. PSBs that declared their results which witnessed a 3.2 per cent fall in net profits due to a 54 per cent jump in provisions and shrinking net interest margins. Private sector banks, in contrast, expanded profits by 31 per cent

*Rashtriya Ispat Nigam Limited (the Visakhapatnam Steel Plant) has created a niche market for its products during the past four years and its expansion project is at an advanced stage, outgoing company Chairman and Managing Director, Mr P.K. Bishnoi. The (steel maker's) capacity will rise to 6.2 million tonnes from the present 3 million tonnes after the completion of the ongoing expansion project. *Hospitality chain Viceroy Hotels Ltd is in the process of restructuring its business operations, including slump sale' of its Bangalore arm and outright sale of its Chennai special purpose vehicle.The Managing Director of Viceroy Hotels Ltd, Mr P. Prabhakar Reddy *Shareholders of Hindustan Unilever Ltd approved the scheme of arrangement that will allow transfer of some assets, liabilities and properties of FMCG exports business division of the company to Unilever India Exports Ltd. * Bharat Heavy Electricals Ltd's technology-sharing arrangement with Alstom for manufacturing supercritical boilers in India will continue unaffected by the French engineering major's recent global pact with Chinese equipment firm Shanghai Electric. BHEL's Chairman and Managing Director, Mr B.P. Rao. The joint venture, Alstom-Shanghai Electric Boilers Company, would have combined sales of around 2.5 billion and would be registered in Shanghai with an operational headquarters in Singapore *JSW Steel is all set to become the country's largest steel maker, dislodging state-run SAIL, with the commissioning of 3.2 million tonnes blast furnace at its Vijayanagar plant in Karnataka

Biocon has tied up with Pfizer to commercialise its insulin portfolio. It has partnered with Mylan for monoclonal antibodies. Central transmission utility PowerGrid Corp has announced that R T Agarwal has taken charge as Director (Finance) of the company.

JP Morgan has raised the target price of Idea Cellular to Rs 90 from Rs 80 and retained 'neutral' rating on improved margins and tariff increase in six circles. Bristol Myers Squibb India has appointed Pheroze Khan as its managing director. Khan was previously the MD of BMS Greece Electrical equipment maker Jyoti Limited entered into collaboration agreement with DMW Corporation for manufacturing pumps for large power and irrigation projects in India UK-listed miner Vedanta Resources confirmed that it has received conditional approval from the Indian government for its acquisition of a stake in Cairn India,