Investment strategists are cutting recommendations on India at a record pace after the country’s stocks surpassed China as the most expensive major emerging market for the first time since 2006. The Bombay Stock Exchange Sensitive Index is valued at 20 times estimated profits, higher than China for the first time since November 2006 and the [...]
China Steps Up Defense Of Internet Controls
January 27th, 2010
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China widened its attack against U.S. criticisms of Internet censorship on Monday, raising the stakes in a dispute that has put Google in the middle of a political quarrel between the two global powers. China has stepped up its defense of curbs on the Internet nearly two weeks after the world’s biggest search engine provider, [...]
Wall Street Firms Cut Compensation, ‘Buckling’ to Washington
January 25th, 2010
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Goldman Sachs Group Inc., Morgan Stanley and JPMorgan Chase & Co.’s investment bank slashed their compensation in the fourth quarter, responding to political pressure that will probably persist as details of bonuses for their top executives emerge in coming weeks. The three Wall Street firms set aside $39.9 billion for pay in 2009, below the [...]
Ericsson Profit Declines as Phone Companies Slash Spending
January 25th, 2010
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Ericsson AB, the world’s largest maker of wireless networks, reported a 92 percent drop in fourth-quarter profit, falling short of analysts’ expectations as phone companies reduced spending on networks. Net income slumped to 314 million kronor ($43.4 million) from 3.89 billion kronor a year earlier, Stockholm-based Ericsson said today in a statement. Analysts had anticipated [...]
