1. Mahindra Said To Consider Bidding For Hawker Beechcraft
Mahindra & Mahindra Ltd. (MM), India’s biggest maker of utility vehicles, is considering bidding for Hawker Beechcraft Inc., the bankrupt aircraft maker part owned by Goldman Sachs Group Inc. (GS), a person with knowledge of the matter said.
Hawker would fit well with Mahindra because both produce turboprop aircraft, said the person, who asked not to be identified because the deliberations are private. The Mumbai- based company has not decided whether to make an offer, the person said. Roma Balwani, a spokeswoman for Mahindra, said the company doesn’t comment on speculation.
Mahindra, which purchased majority stakes in component maker Aerostaff Australia and turboprop aircraft manufacturer Gippsland Aeronautics in 2009, has been in talks with India’s National Aerospace Laboratories on possibly partnering for a regional jet. A successful bid for the business jet-maker will catapult Mahindra into the aerospace market as a manufacturer, according to Dhiraj Mathur of PricewaterhouseCoopers LLP.
2. Apple Said To Plan Smaller IPad To Vie With Google Nexus
Apple Inc. (AAPL) plans to debut a smaller, cheaper iPad by year-end, two people with knowledge of the plans said, to help maintain dominance of the tablet market as Google Inc. (GOOG) and Microsoft Corp. (MSFT) prepare competing handheld devices.
The new model will have a screen that’s 7 inches to 8 inches diagonally, less than the current 9.7-inch version, said the people, who asked not to be identified because Apple hasn’t made its plans public. The product, which Apple may announce by October, won’t have the high-definition screen featured on the iPad that was released in March, one of the people said.
3. Coke’s $3bn to add fizz to India presence
Coca-Cola is escalating the beverage wars in India, announcing a $3bn investment intended to help it overtake PepsiCo in one of the few countries where it trails its rival.
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The move marks the acceleration of Coke’s commitment to India, superseding last year’s plan to invest $2bn over five years. That is as much as Coke invested in the country between 1993 and 2011.
Source: http://www.ft.com/intl/cms/s/0/25172634-bfad-11e1-8bf2-00144feabdc0.html
4. Former CEO Bob Diamond admits 'mistakes' at Barclays, says fast action taken
Former Barclays chief executive Bob Diamond criticised "reprehensible" behaviour over a rate-fixing scandal in a tense appearance before British lawmakers Wednesday, the day after he quit the bank.
Diamond added that while there had been "mistakes" at the lender, swift action was taken to tackle traders' attempts to manipulate key inter-bank lending rates.
"Clearly there were mistakes, clearly there was behaviour that was reprehensible," Diamond told the British parliament's Treasury Select Committee.
Barclays chief operating officer Jerry del Missier also resigned Tuesday over the affair, while the bank's chairman Marcus Agius quit on Monday.
Last week, the bank was fined £290 million ($455 million, 360 million euros) by British and US regulators for the attempted rigging of the Libor and Euribor interest rates.
Libor (London Interbank Offer Rate) is a flagship London instrument used as an interest benchmark throughout the world, while Euribor is the eurozone equivalent.
The rates play a key role in global markets, affecting what banks, businesses and individuals pay to borrow money.
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