Investment banker Manisha Girotra will head the Indian operations of Moelis and Company, a global independent investment bank setting up shop in the country.

Manisha Girotra to head Indian operations of Moelis and Company

Business Standard

While textile exporters have been cheering the rupee&rsquo;s depreciation, it is now also helping the domestic apparel industry in a big way.

Re slide halts apparel import from Dhaka

The rupee trimmed early gains against dollar but was still trading higher by 31 paise at 55.63 a dollar on selling by banks and exporters amid persistent capital inflows.

Rupee trims early gains, up 31 paise at 55.63/dollar

Press Trust of India

Rupee extends rise to 55.38/40 from previous 55.93/94 close. Domestic stocks and emerging Asian FX gain after China posted GDP in line with expectations, easing worries about a sharp slowdown in growth in the continent's largest economy.

Rupee rises, risk assets gain

Reuters 

Foreign institutional investors (FIIs) have cut exposure in two leading private lenders, ICICI Bank and Axis Bank, but have increased their stake in HDFC Ltd and its group firm HDFC Bank.

FIIs hike HDFC, HDFC Bank stake cut exposure to ICICI, Axis

The rupee rallied on Friday to notch its third consecutive weekly gain after a narrowing trade deficit helped ease concerns about the country's fiscal outlook, while signs of foreign flows also helped.

Rupee gains on narrowing trade deficit, foreign buying

Life Insurance Corporation of India (LIC), the country&rsquo;s largest insurer, has raised its stake in Infosys to 6.3 per cent, with purchase of shares worth an estimated Rs 2,000 crore in the first quarter of the current financial year.

LIC ups Infy stake to 6.3%

SKS Microfinance Ltd on Friday announced the launch of its qualified institutional placement issue at a floor price of Rs 75.40 per share. The firm has the board&rsquo;s approval to raise Rs 900 crore via allotment of shares.

SKS Micro launches QIP issue

HDFC Bank, the country&rsquo;s second largest in the private sector, has reported a 30.6 per cent increase in net profit to Rs 1,417 crore for the quarter ended June, as compared to Rs 1,085 crore a year earlier, on the back of robust loan growth and higher fee income.

Robust 1st quarter results for HDFC Bank

The rupee strengthened the most in almost two weeks on speculation the central bank will join policy makers worldwide in taking steps to spur growth.

Re advances most in two weeks

Essar Power is in talks with lenders to re-structure the principal debt of its coastal Gujarat power project in Salaya, bankers have said.

Essar Power said to be in talks to recast Salaya-I debt

The Bank of England released emails on Friday detailing conversations about the setting of key interest rates in 2008 with Timothy F Geithner when he ran the Federal Reserve Bank of New York.

UK central bank found Geithner's advice 'sensible'

JPMorgan Chase on Friday reported a second-quarter profit of $5 billion, down 9 per cent, despite continuing losses from a multibillion-dollar botched credit position. The company also said it would restate its first-quarter earnings because it was no longer confident that the company&rsquo;s traders had fairly valued positions within the office that handled the controversial trades.

JPMorgan profit falls on $4.4-bn trading loss

U.K. government bonds gained for a second week and the pound strengthened versus the euro amid signs the euro-region debt crisis is deepening.

Gilts Gain as Europe Debt Crisis Spurs Safety Demand

JPMorgan Chase disclosed on Friday that losses on its botched credit bet could climb to more than $7 billion and that the bank's traders may have intentionally tried to obscure the full extent of the red ink on the disastrous trades.

New fraud inquiry as JPMorgan's loss mounts

The Federal Reserve Bank of New York learned in April 2008, as the financial crisis was brewing, that at least one bank was reporting false interest rates.

New York Fed knew of false Barclays reports on interest rates

Rejecting across the board restructuring of loans for the cash-starved textile sector, the Reserve Bank has asked banks to consider debt recast for the industry on a case-by-case basis.

RBI for debt recast of textile units on a case-by-case basis

Terming the impact of RBI's decision to deregulate savings accounts rates last year as &quot;insignificant&quot; for HDFC Bank, Managing Director and Chief Executive of the bank Aditya Puri has said depositors should be content with 4% interest offered by larger lenders.

Savings account rates to stay at 4%: HDFC Bank

Global banking giant Citi has turned to the social media to gauge the public mood on offering banking transactions through Facebook -- a service already being offered by Indian banking giant ICICI Bank.

Is Citi planning Facebook banking?

The rupee is expected to retain the current level with the help of foreign fund inflows in the medium term, as narrowing trade deficit data augur well for the currency. However, downward risk remains high in the event of fresh risk-off waves from developments on the global front.

Rupee to stay afloat on foreign fund inflows

Procter &amp; Gamble is a hulking target for an uppity investor like Bill Ackman. Typical activist tactics like a breakup won&rsquo;t work at the $178 billion Pampers-to-Crest giant. New leadership could be one thing to help get P&amp;G back on track, though. Maybe Ackman could even recruit vaunted former Chief Executive A G Lafley to help.

Changing tide

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