Sunday, February 15, 2009

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Top Business News- IBNLive.com

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PM approves Interim Budget for presentation on Monday
G7 ministers pledge recovery of global economy
    GLOBAL CAUSE: G7 ministers also renewed a commitment to avoid protectionist measures.They want to re-establish confidence in the stricken global financial system.
Oil companies cut jet fuel prices
    EASY FUEL:  After Sunday's Rs 1,130 a kilolitre reduction, jet fuel is priced at early 2005 levels.Jet fuel prices have been reduced for the tenth time since September 1, 2008.
Karnik welcomes SEBI's takeover norms for firms
    NORMS EASED: The market regulator says no competitive bids will be allowed after the public announcement of a takeover. He says that the SEBI move will help the company.
Software giant Sapient lays off 500 employees
    TOUGH MEASURES: A few months back US-based IT Sapient company had laid-off 160 employees. Employees laid off from Sapient's Bangalore, Noida and Gurgaon offices.
Sapient sacks 500 workers, reducing budgets
    SACKING EMPLOYEES: The senior management of the company refused to comment on the issue.The senior management of the company refused to comment on the issue.
SEBI announces takeover norms for distressed cos
    NEW NORMS: SEBI says the company in question's board will have to be replaced by a state or Central Government body.SEBI has relaxed the takeover norms for companies in special situations.

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