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Phaneesh Murthy to be sued for sexually harassing iGATE employee
23 May 2013 at 12:29am
Sacked iGATE Corp Chief Executive Phaneesh Murthy will be sued for sexually harassing the firm's investor relations head and allegedly making her pregnant, the law firm representing the victim said on Thursday. The California-based law firm, Aiman-Smith & Marcy, said that iGATE's head of investor relations Araceli Roiz was pregnant with Murthy's child.
Rupee at new 6-month low at 55.83
23 May 2013 at 12:10am
The rupee on Monday declined by a hefty 37 paise to trade at a fresh six-month low of 55.83 in early trade at the Interbank Foreign Exchange market on sustained dollar demand and strengthening of the US currency overseas.
Tata Steel swings to Rs 6,528 crore loss in Q4
22 May 2013 at 11:11pm
Tata Steel on Thursday posted consolidated net loss of Rs 6,528.51 crore for the quarter ended March 31, following a non-cash write down of Rs 8,355.91 crore related to European operations and fall in demand in the euro-zone.
Rupee down 37 paise against dollar in early trade
22 May 2013 at 9:23pm
The rupee on Wednesday declined by a hefty 37 paise to trade at a fresh six-month low of 55.83 in early trade at the Interbank Foreign Exchange market on sustained dollar demand and strengthening of the US currency overseas.
Sensex falls below 20,000, down 388 points
22 May 2013 at 9:10pm
The BSE benchmark Sensex on Thursday lost 388 points to fall below 20,000 level on disappointing March quarter earnings from state-run lender State Bank of India, amid weak global trend after US Federal Reserve hinted at scaling down monetary stimulus.
GM recalls more than 27,000 Cadillac crossover vehicles
22 May 2013 at 8:42pm
General Motors Co is recalling worldwide more than 27,000 Cadillac crossover vehicles whose wheels could fall off due to potentially loose wheel nuts.
No need for nervousness, Chidambaram assures stock markets
22 May 2013 at 8:11pm
Finance Minister P Chidambaram on Thursday sought to assuage the stock market, after it declined by over 350 points, by asserting that there was no need for any "nervousness" and the participants should read the situation correctly rather than be influenced by external developments.
SBI Q4 debt restructuring at Rs 8090 crore
22 May 2013 at 6:15pm
tate Bank Of India (SBI), the country's largest lender, restructured Rs 8090 crore in loans in the January-March quarter, far higher than its earlier guidance of Rs 3700 crore, a senior executive said on Thursday.
SBI Q4 profit falls 18.5 per cent to Rs 3,299 crore
22 May 2013 at 6:09pm
Shares of State Bank of India on Thursday fell sharply by over 8 per cent, wiping-off Rs 12,867 crore from its market value, after the state-owned lender reported 18.54 per cent decline in net profit for the fourth quarter ended March 31.
Rupee pulls off 8-month lows as exporters sell
22 May 2013 at 6:09pm
The rupee recovered from a more than 8-month low hit earlier on Thursday, as exporters took advantage of a spike in the dollar to sell the greenback and on fears the central bank would intervene to stabilise the local currency. The rupee still posted a fifth day of falls to mark its longest losing streak in over three months as worries about a potential pullback in the US monetary stimulus programme and a weak manufacturing survey in China sparked a shift sway from riskier currencies.
Phaneesh Murthy, victim may settle out of court
22 May 2013 at 5:46pm
Phaneesh Murthy, sacked a few days ago as iGATE president, will be sued by Araceli Roiz for sexually harassing and for making her pregnant. Roiz's lawyer Randall Aiman-Smith told Network18 that she is exploring an out of court settlement with Murthy.
Sebi, CCI seek clarity on Jet-Etihad deal
22 May 2013 at 1:29pm
Abu Dhabi carrier Etihad's Rs 2,058-crore stake purchase in Jet Airways has hit a regulatory air pocket, as regulators are seeking more clarity on the deal to ensure overall competition in the aviation market is not affected and interests of public shareholders and consumers are protected.
Morgan Stanley resumes United Spirits at 'overweight'
21 May 2013 at 11:20pm
Morgan Stanley resumes coverage of United Spirits Ltd with an "overweight" rating and a target price of Rs 3,115. The investment bank says new owner Diageo Plc could implement a greater focus on profitable growth for the liquor maker.
Sensex at one-week low, down 49 points
21 May 2013 at 9:25pm
Sliding for the third day, the BSE benchmark Sensex on Wednesday fell by 49 points to close at a fresh one-week low of 20,062.24, dragged down by over 5.5 per cent drop in L&T shares after its earnings failed to meet market expectations.
Tech Mahindra shares jump after earnings results
21 May 2013 at 9:15pm
Shares in Tech Mahindra Ltd rose as much as 6.8 per cent on Wednesday after its January-March quarter net profit rose 24 per cent, beating estimates.