Archive for January, 2008

SBI to add 5,00,000 point of sale terminals by 2010

The number of outlets accepting plastic for payments is set to grow more than 150%, with the State Bank of India planning to add half-a-million point of sale terminals in the country in three years. (23 mins ago)

Fed’s tonic for economic ills – interest rate cuts – does not come without risks

Fed Chairman Ben Bernanke and his colleagues are expected to cut rates by as much as one-half of a percentage point at their regularly scheduled meeting this week. (23 mins ago)

Time Is on Your Side

When it comes to investing, the general rule is the younger you are, the more risk you should be willing to take on. (2 hours ago)

Bernanke to rescue

WHO’S GOING to save the U.S. economy from a recession: Federal Reserve Chairman Ben Bernanke, or President Bush and the 535 members of Congress? (25 mins ago)

No more free lunch for investors’

While the days of getting a free lunch in the equity markets are over, Old Mutual Unit Trusts’ MD urges investors not to make hasty decisions based on fear. (54 mins ago)

Bank of America, Wachovia profits nearly wiped out

NEW YORK – Bank of America Corp and Wachovia Corp , the second- and fourth-largest U.S. banks, said on Tuesday quarterly profits were nearly wiped out by more than $10 billion of credit losses and write-downs. (7 mins ago)

Fortune survey shows recession fears

A new Fortune magazine poll paints a gloomy picture of the national economy. (12 mins ago)

Investors fear spread of contagion to credit card debt

Though there have been some worrying signs, securities built from U.S. consumer credit debt are so far holding up well, analysts say. (27 mins ago)

ICICI Bank profit up 35% on robust credit growth

ICICI Bank, India’s largest private sector bank, today reported a 35 per cent increase in its net profit to Rs 1,230 crore in the quarter ended December 2007 from a year earlier, on robust growth in corporate credit and net interest margins. (7 mins ago)

Executive accountability: Walking away with $115M

Steven Castello, a maintenance worker in Salinas, Calif., says he believes in accountability. (2 hours ago)