Let's count the events of the day

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.

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/25172634-bfad-11e1-8bf2-00144feabdc0.html#ixzz1zirgCzwt

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.

Let's count the events of the day

1. Rice Harvest In India Seen At Record As State Prices Increased


The monsoon-sown harvest may gain 10 percent in the year beginning July 1 from 90.8 million metric tons a year earlier, said Tarsem Saini, president of the Federation of All India Rice Millers Association. An end to a three-year ban on exports last year and a forecast for normal rain will spur farmers to increase planting, he said. The monsoon crop, sown from this month, accounts for about 80 percent of annual output.

http://www.bloomberg.com/news/2012-06-26/rice-harvest-in-india-seen-at-record-as-state-prices-increased.html

2. Morgan Stanley Downgrades RIM On ‘Deteriorating’ Outlook


Research In Motion Ltd. (RIM), the struggling maker of the BlackBerry smartphone, fell the most since May after Morgan Stanley (MS) downgraded the stock, citing “rapidly deteriorating fundamentals.”


“The only way RIM remains a viable entity is at a fraction of its current size, a transformation that erases much of its earnings power,” Ehud Gelblum, an analyst at Morgan Stanley in New York, wrote in a note to investors today. He cut RIM’s recommendation to underweight, a negative rating, from equalweight, the equivalent of a hold.


3. Nissan India Partner Thinks Small To Close Tata Gap

Ashok Leyland Ltd. (AL), India’s second- biggest truckmaker, is adding small goods carriers and expanding overseas to claw back market share lost to Eicher Motors Ltd. (EIM) and Tata Motors Ltd. (TTMT)
Nissan Motor Co. (7201)’s Indian partner, which reported its smallest gain in sales in three years in the 12 months ended March 31, plans to add 25 models in the year that began April 1, Vinod Dasari, the company’s managing director said in an e- mailed response to questions. The company last year began selling the small carrier Dost, which means friend in Hindi.

Daimler, Navistar:


Daimler, the world’s biggest truckmaker, this year opened a factory to build carriers ranging from six tons to 49 tons in India. Daimler will unveil 17 models by 2014, and the factory will be able to initially produce 36,000 trucks a year, Daimler said in April.

Mahindra partnered Navistar International Corp. (NAV) in 2005 to build trucks, while Volvo AB, the world’s No. 2 truck maker, invested $275 million in a venture with Eicher to make vehicles in India in 2008.

http://www.bloomberg.com/news/2012-06-25/nissan-india-partner-thinks-small-to-close-tata-gap.html

Worth Reading:


That’s Bhendi Bazar in 2014http://www.mumbaimirror.com/index.aspx?page=article&sectid=15&contentid=200908282009082804230495389a185fa

Let's count the events of the day

1. Fiat, Tata Motors, Maruti may shut down plants temporarily

With vehicle sales continuing to dwindle due to high interest rates and petrol prices, many automobile manufacturers in India are planning to shut down their plants temporarily to reduce inventories.

While Fiat India is considering shutting down plant for a few days next month, Tata Motors will stop production of commercial vehicles at Pune for three days this week.

http://www.hindustantimes.com/News-Feed/Auto/Fiat-Tata-Motors-Maruti-may-shut-down-plants-temporarily/Article1-875094.aspx

2. Pakistan’s Gilani Disqualified As Premier After Ruling

Pakistan’s political strains escalated after the Supreme Court disqualified Prime Minister Yousuf Raza Gilani from the job because of a contempt conviction.

Gilani, censured by the court over failure to pursue corruption charges against President Asif Ali Zardari, was disqualified retroactive to April 26, 2012, according to an e- mailed statement from the Election Commission of Pakistan yesterday. Gilani’s party will respond after speaking with its coalition partners, Jehangir Badar, its secretary general, said at a news conference in Islamabad yesterday.

http://www.bloomberg.com/news/2012-06-19/pakistan-s-top-court-rules-gilani-ineligible-to-be-premier-1-.html

3. Wikileaks Founder Turns To Chavez Ally Ecuador For Asylum

Julian Assange sought asylum in Ecuador’s Embassy in London yesterday to avoid what he says are U.S. efforts to punish him for releasing diplomatic secrets through his Wikileaks website.

Ecuador is studying the request and is in contact with the U.K. government, the Andean country’s Foreign Minister Ricardo Patino told reporters in a brief statement in Quito. Assange entered the embassy in the Knightsbridge area of London after exhausting options in U.K. courts to avert extradition to Sweden, where he faces two counts of rape.

The move threatens to widen the breach between Ecuador, a member of the Venezuelan-led group of nations known as ALBA, and the U.S., just as Ecuador seeks renewal of trade benefits due to expire next year. The Andean country may grant Assange asylum to spite the U.S., prioritizing political gains over strategic interests, said Christopher Sabatini, senior policy director of the Council of the Americas.

http://www.bloomberg.com/news/2012-06-20/wikileaks-founder-turns-to-chavez-ally-ecuador-for-asylum.html

4. Renault to begin taking orders for Duster by June end

Duster, the heavily anticipated Sports Utility Vehicle (SUV) from Renault, is all set to be launched in the Indian auto market in June 2012 and the French car maker is gearing up to commence bookings a month in advance. The model, considered as the perfect blend of space, ruggedness and stability, is expected to kick-off a new scenario of competitive pricing in the SUV segment of the Indian auto industry. After the failure of its earlier premium offerings, including Fluence, Koleos and Pulse, Renault is readying itself to try its luck in India with the launch of its big and efficient SUV, Duster.

http://www.cartrade.com/car-bike-news/renault-to-begin-taking-orders-for-duster-by-june-end-117517.html

5. Lava launches XOLO X900

Lava mobile has launched the first intel powered android smart phone, which retails at 22,000.

6. Anushka Sharma appointed brand ambassador for TVS Scooty range

TVS Motor Company has signed on Bollywood actor Anushka Sharma as brand ambassador for its TVS Scooty range. Sharma will be the face of all brand campaigns related to the range.

H S Goindi, president, marketing, TVS Motor Company, said, “Anushka Sharma was an immediate choice for the TVS Scooty brand. She is well known for being spunky with her distinctive style and is an icon for young girls in India. She is seen by young women as one who is living her goals of being vivacious, independent and successful. We are confident that this association will further enhance the popular TVS Scooty Brand. ”

Sharma had previously worked in a TVS Scooty campaign in 2005.

http://www.campaignindia.in/Article/304516,anushka-sharma-appointed-brand-ambassador-for-tvs-scooty-range.aspx

Let's Count The Events Of The Day

1. Microsoft Unveils Tablet Computer Called Surface, Taking On IPad

                                                                                        (courtsey: Bloomberg)




Microsoft Corp. (MSFT) unveiled its own Windows-powered tablet computer called Surface, altering its strategy of focusing on software and relying on partners to make the machines in a renewed attempt to take on Apple Inc. (AAPL)’s iPad.
The tablet has a 10.6-inch display and will run the new version of Microsoft’s operating system, Chief Executive Officer Steve Ballmer said at an event yesterday at Milk Studios in Los Angeles. The device’s cover serves as a full keyboard with a track pad. Surface will be available later this year.

The company wants to release Windows 8, the new version of its software that is optimized for touch-screen tablets, in time for the end-of-year holidays and will have a version for x86 chips from Intel Corp. and for ones based on ARM Holdings Plc’s technology, which is also used in the iPad. The Surface tablet will be available in versions running both chip designs.

http://www.bloomberg.com/news/2012-06-19/microsoft-unveils-surface-tablet-computer-taking-on-ipad-1-.html


2. Emami restrained from broadcasting 'Navratna oil' advt

The Delhi High Court on Monday restrained Emami Limited a health and personal care product company from broadcasting an advertisement for its Navratna Oil brand on a plea filed by GK Burman Herbal (India) Private Limited. The latter had alleged that the TV commercial ‘degrades and disparages’ a similar product manufactured by the company.

The interim order of the High Court came on plea filed by leading Ayurvedic Oil Manufacturer, Burman Herbal, seeking a permanent injunction on circulation, or distribution of the advertisement which allegedly defamed and maligned its product, Himgange Ayurvedic Oil.

In its plea, Burman Herbal India (pvt) Ltd said, "The defendant (Emami) has knowingly and fraudulently issued the said advertisement to harm the immense goodwill and reputation which the plaintiff has earned in the last 25 years of the existence of its said product with the sole motive of driving out healthy competition from the market and to make illegal and unlawful gains."

http://www.lawetalnews.com/article/631/Emami-restrained-from-broadcasting-Navratna-oil-advt.htm

3. CCD founder acquires additional 3.84% stake in MindTree

 

CCD founder VG Shiddhartha has acquired additional 3.84% stake in MindTree . He raised his stake to 21.63% in the company, reports CNBC-TV18.



4. India Unexpectedly Holds Rate As Inflation Curbs Easing: Economy

India unexpectedly left interest rates unchanged as the fastest inflation among the biggest emerging markets narrows scope to bolster an economy struggling with trade and budget deficits and Europe’s debt turmoil.

Governor Duvvuri Subbarao left the benchmark repurchase rate at 8 percent, the Reserve Bank of India said in a statement in Mumbai today. Only four of 25 economists in a Bloomberg News survey predicted the outcome, with 19 expecting a 0.25 percentage-point cut and the remainder a half-point reduction.

Hours after the decision, Fitch Ratings cut India’s sovereign credit outlook to negative, joining Standard & Poor’s in signaling the country is at risk of losing its investment grade rating on concern growth will deteriorate. Subbarao’s room to counter the weakest Indian economic expansion in almost a decade is being limited in part by a plunge in the rupee, which has stoked an inflation rate already above 7 percent.

http://www.bloomberg.com/news/2012-06-18/india-unexpectedly-holds-rate-as-surging-prices-curb-cut-scope.html

5. Facebook Buys Face.com

Facebook has acquired Face.com, the facial recognition software company whose products power Facebook's photo tagging suggestions, according to a blog post.

Rumors of the acquisition began to circulate in late May.

Face.com also provides branded Facebook apps. Photo Tagger is very similar to the native Facebook app, while Photo Finder, the company's first app, helps users find untagged photos of themselves. Face.com offers an API (application programming interface) that powers third-party apps including CelebrityFindr, which allows users to search for photos of celebrities on Twitter using facial recognition technology.

http://www.cio.in/news/facebook-buys-facecom-272932012#

Let’s count the events of the day

 

1. Facebook Agrees to Buy Instagram Photo App for $1 Billion

Facebook Inc. (FB), the biggest social- networking service, is buying the Instagram mobile photo-sharing application for about $1 billion in cash and stock, using its biggest acquisition yet to lure users of mobile devices.Instagram, owned by San Francisco-based Burbn Inc., was valued at $500 million after raising about $60 million last week from investors including Sequoia Capital, said people with knowledge of the funding who asked not to be identified because the matter is private. The acquisition is expected to close this quarter, Menlo Park, California-based Facebook said today.

Instagram lets users take pictures with smartphones, retouch them with borders and filters, and then post the images on social networks. Founded in 2010, it has become the most popular free photo-sharing application on Apple Inc. (AAPL)’s App Store and boasts more than 30 million users. Owning it may help Facebook attract handset users and advertisers who target them, said Rebecca Lieb, an analyst at Altimeter Group LLC.

http://www.bloomberg.com/news/2012-04-09/facebook-agrees-to-buy-instagram-photo-service-for-1-billion.html

 

2. Sahara Group in talks to buy 'The Plaza' in New York for Rs 3,000 crore

Little over a year after he snapped up London's iconic Grosvenor House hotel, Subroto Roy is about to do a similar deal across the Atlantic. The Sahara Group is in exclusive talks to acquire The Plaza, a 105-year-old landmark property in New York whose guests have included Marilyn Monroe and the Beatles, for around $600 million (Rs 3,000 crore).

http://articles.economictimes.indiatimes.com/2012-04-06/news/31300279_1_grosvenor-house-hotel-sahara-group-subroto-roy

3. Loop Telecom to Shut Shop Outside Mumbai

Privately-held Loop Telecom Pvt. Ltd. Tuesday said it will shut shop across all of India except for Mumbai, which accounts for 3.25 million of the company's 3.26 million subscribers in the country.It added that it has asked the government for a refund of about 33.0 billion rupees ($645 million) as well as unspecified damages from the government, after the Supreme Court ordered the cancellation of 21 of Loop's 22 licenses in a wider corruption case involving allotment of bandwidth and permits in 2008.Loop Telecom will continue to operate in Mumbai as that license was given before 2008, a company spokesman said.

 

 

 

Worth Reading:

 

http://www.bloomberg.com/news/2012-04-09/billionaires-unmasked-as-coty-persists-in-pursuit-of-avon.html

http://timesofindia.indiatimes.com/tech/enterprise-it/strategy/Instagram-7-things-to-know/articleshow/12608854.cms

Lets Count The Events of the Day

 

1, Apple Inc. (AAPL) will pay its first dividend in 17 years and buy back $10 billion in stock, heeding investors who urged it to return part of the $97.6 billion in cash amassed by robust demand for iPhones and iPads.

http://www.bloomberg.com/news/2012-03-19/apple-to-pay-dividend-buy-back-stock-to-return-some-of-its-cash.html

2. Starbucks goes natural, opens first Evolution Fresh juice store

Starbucks Coffee Co.’s foray into juice is bearing fruit (and vegetables), with its first Evolution Fresh store now open and selling “wholesome products” in Bellevue, Wash.

http://www.latimes.com/business/money/la-fi-mo-starbucks-evolution-fresh-20120319,0,7153835.story

3. Jet Airways discontinues JetLite, merges with JetKonnect

As part of a strategic rebranding and restructuring exercise announced last July, the country's largest airline Jet Airways today said, effective March 25, its low-cost arm JetLite will cease to operate, after being merged with the other no-frills brand JetKonnect.

http://economictimes.indiatimes.com/news/news-by-industry/transportation/airlines-/-aviation/jet-airways-discontinues-jetlite-merges-with-jetkonnect/articleshow/12330847.cms

4. Unibic sale won't impact India operations: Nikhil Sen, Managing Director, Unibic Biscuits India. last year private equity firmLazard bought into Unibic India by snapping up the shares that were owned by Unibic Australia.Unibic Biscuits India's other investors include Lighthouse Capital besides Sen. The company only pays a nominal royalty to Unibic Australia for use of the brand.

5. Rio Tinto is gearing up to develop India's second diamond mine in Bundelkhand (Chhatarpur, Madhya Pradesh)

6. Kevin Rose, the founder of Digg.com to be hired by Google.

Photographer: David Paul Morris/Bloomberg