Gamblers who tipped that the government was wrong and that Australia would fall into recession this year were rewarded with big pay-outs Wednesday from internet betting agency Centrebet.Centrebet financial analyst Neil Evans said the smart money had  ..

JSW Steel, one of the leading steel makers in the country, will invest Rs.3,000 crore in 2009-10 to expand its production capacity, a top official said here Wednesday."We are planning to invest Rs.3,000 crore in the current financial year to exp ..

Minister for External Affairs Pranab Mukherjee Wednesday denied that the United Progressive Alliance (UPA) government was going slow in taking action to unearth illegal money of Indian citizens kept in secret Swiss Bank accounts.Addressing a press co ..

Despite political turmoil, mounting inflation and a nagging fuel crisis, a Nepali car dealer pipped rivals from 16 other countries to become the highest seller of commercial vehicles manufactured by Indian business group Tata in the international mar ..

Continuing the telecom growth story, India added 15.87 million telephone connections during March as compared to 13.82 million a month earlier, says the Telecom Regulatory Authority of India (TRAI).With this, the total number of telephone connections ..

After buying 31 percent of scam-tainted Satyam Computer Services, Tech Mahindra Wednesday announced an "open offer" to acquire a further 20 percent stake so that it can get a controlling stake.As per the next steps laid out by the Satyam bo ..

Unlike IBM's failed attempt to acquire Sun Microsystems, the $7.4 billion tendered by Oracle to buy the Santa Clara-based enterprises solutions firm makes good sense for all three companies. It is also gives an honourable exit and hope of a new d ..

Wipro Ltd posted a net profit of Rs.10.1 billion (Rs.1,010 crore) for the fourth quarter (January-March) of fiscal 2008-09, registering 15 percent year-on-year (YoY) growth under the Indian accounting standard.In a regulatory filing, the IT bellwethe ..

The world's largest defence firm, Lockheed Martin Corp, demonstrated its sturdiness Tuesday in the face of a sharp downturn in the US and global economies, reporting first-quarter sales growth of 3.9 percent to $10.4 billion.The company credited  ..

Japan's trade balance for fiscal 2008 marked the first deficit in 28 years due to rise in commodity prices and slower exports to the US and other major economies, the finance ministry said Wednesday.The nation's trade deficit logged 725.32 bi ..

Soft-drink giant Coca-Cola Co reported a drop of 10 percent in first-quarter profits Tuesday, citing costs to restructure its German distribution.Profits were $1.35 billion, or 58 cents per share, compared to $1.5 billion, or 64 cents per share, in t ..

Citigroup's Indian American CEO Vikram Pandit survived an angry annual shareholder meeting as he pledged to complete efforts aimed at turning around the embattled bank and repay every dollar it owes to the US government.But Pandit, who was instal ..

Warning that the current recession could be worse than expected,the Bank of Canada Tuesday cut its overnight rate to the historic low of 0.25 percent.Announcing the cut, the central bank said, "While more aggressive monetary and fiscal policy ac ..

Internet portal Yahoo said Tuesday that it planned to cut five percent of its workforce as the company struggles with the economic downturn and the dominance of Google in internet search.Yahoo announced the job cuts as it reported quarterly income of ..

The British economy has entered deflation for the first time in almost half a century, heralding a fall in wages and freeze in pensions, a media report said Tuesday.The Retail Prices Index (RPI) measure of inflation fell to -0.4 percent in March, ind ..

Though the physical test drive option for the world's cheapest car Tata Nano is not available, its online alternative attracted over 1.2 million users in the last one month.Tata Motors, in association with Reliance-Anil Dhirubhai Ambani Group (R- ..

The International Monetary Fund (IMF) said Tuesday that losses stemming from the US mortgage crisis may reach $4 trillion and the global financial system "remains under severe stress".The IMF said in January that it expected the deteriorati ..

Warning that significant challenges to restoring financial stability remain despite an unprecedented policy response to the global economic crisis, the International Monetary Fund (IMF) has called for "continued decisive and effective action&quo ..

The US government has said that it views as positive Venezuelan President Hugo Chavez's proposal to discuss the restoration of full diplomatic relations between the two countries."Dialogue is what we believe is important. And we will see whe ..

Employees who use the net at the office for sending or receiving e-mails or browse the web may be doing their bosses a favour because they are more amenable to working after office hours or from home, according to a new study.The border between work  ..