March 17: Through the Camera Lens
March 17: Through the Camera Lens
A boy looks at an Apple iMac desktop computer at the new Apple Store in Pudong Lujiazui, in Shanghai
A rare Wall Street downgrade stoked fears that Apple Inc's torrid growth is slowing and sent its shares sliding for the second straight day as nervous investors ponder the impact on the tech industry from Japan's largest-ever earthquake.
The world's largest technology company lost about $14 billion of value on Wednesday after JMP Securities' Alex Gauna downgraded the stock, pointing to a sharp pullback in sales growth at Apple's largest Asian contract manufacturer as a sign that business was also slowing at the iPhone and iPad maker.
'There's a risk of complacency. The sell-side has gotten itself into a game of one-upmanship,' Gauna said. Investors 'should make sure that they're comfortable with the situation ... especially since there's just so much uncertainty right now.'
A worker of a food superstore arranges price tags of the products inside a mall in Ahmedabad
India's food price index rose 9.42% and the fuel price index climbed 12.79% in the year to March 5, government data on Thursday showed.
Annual food inflation in early March eased from 9.52% recorded in the previous week as prices of onions and milk fell, while fuel inflation accelerated, on a jump in coking coal prices, from 9.48% a week earlier.
The primary articles price index was up 12.31%, compared with an annual rise of 13.96% in the prior week.
The wholesale price index-based inflation, the most widely watched gauge of prices in India, unexpectedly quickened an annual 8.31% in February on higher fuel and manufactured product prices, data showed on Monday, compared with 8.23% in January.
Pedestrians are reflected in a screen displaying the stock index in Tokyo
Japanese stocks fell on Thursday and domestic investors said they were poised to keep selling on rising yen volatility and a nuclear power plant crisis. Foreign buyers, drawn to valuations a cheap as Lebanon's, steadied the market after an early tumble.
The benchmark Nikkei average ended 1.4% lower at 8,962.67 points, recovering from the intraday low of 8,639.56. The yen dominated the session.
The Japanese currency slid after surging past a record peak against the dollar in white-knuckle trading that could have been linked to a stock market slump after an earthquake and tsunami hit Japan on Friday, damaging a nuclear power plant in Fukushima, north of Tokyo.
The rebound in dollar/yen helped short-covering in the stock market, said Yutaka Miura, senior technical analyst at Mizuho Securities.
Construction-related stocks, expected to benefit from rebuil
Prime Minister Manmohan Singh speaks during a news conference in Chennai
The Bharatiya Janata Party (BJP) forced parliament to adjourn on Thursday and demanded Prime Minister Manmohan Singh resign over a WikiLeaks report that his party paid bribes to win a confidence vote in 2008, a fresh blow to the scandal-tainted coalition.
A leading newspaper, citing US diplomatic cables released by WikiLeaks, said a ruling Congress party official told a US diplomat they had a fund of Rs 50-60 crore ($11-13 million) to pay off lawmakers in 2008.
The WikiLeaks report said the Congress official had showed the diplomat two chests of cash and said four lawmakers of a regional party had been paid Rs 10 crore ($2.2 million) each to secure their support.
Analysts said the report was unlikely to affect the stability of the government, given the charges were old and that the new revelations could be written off as the personal perception of a diplomat that
The Reserve Bank of India (RBI) logo is pictured outside its head office in Mumbai
The Reserve Bank of India raised interest rates on Thursday for the eighth time since last March, in line with expectations, and warned both of inflationary pressures and emerging risks to growth.
The Reserve Bank of India (RBI) said it was likely to maintain its anti-inflationary bias, reinforcing market expectations that further rate increases are in the pipeline, and raised its forecast for headline inflation at the end of March to 8%, from its earlier 7%.
'The underlying inflationary pressures have accentuated, even as risks to growth are emerging. Rising global commodity prices, particularly oil, are a major contributor to both developments,' the central bank said in its mid-quarter policy review statement.
The RBI raised the repo rate, its main lending rate, by 25 basis points to 6.75%, and raised the reverse repo rate, or borrowing rate, to
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