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September 22: Snapshots of the day

  • September 22: Snapshots of the day

    September 22: Snapshots of the day

  • <b><p>A man deposits money in a bank in Amritsar.</b>
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The rupee slid 2.4% on the day to 49.54 per dollar, its lowest level in more than 28 months, as global risk aversion prompted investors to move into safer assets like debt.
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At 4:50 p.m. (1120 GMT), the partially convertible rupee was at 49.55/56 per dollar, its lowest since May 15, 2009. It had closed at 48.325/335 on Wednesday.
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    A man deposits money in a bank in Amritsar.

    The rupee slid 2.4% on the day to 49.54 per dollar, its lowest level in more than 28 months, as global risk aversion prompted investors to move into safer assets like debt.

    At 4:50 p.m. (1120 GMT), the partially convertible rupee was at 49.55/56 per dollar, its lowest since May 15, 2009. It had closed at 48.325/335 on Wednesday.

  • <b><p>A man carries sacks filled with cabbages at a wholesale vegetable market on the outskirts of Jammu.</b>
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India&#39;s food price index rose 8.84% and the fuel price index climbed 13.96% in the year to Sept. 10, government data on Thursday showed.
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In the previous week, annual food and fuel inflation stood at 9.47% and 13.01%, respectively.
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The primary articles index was up 12.17%, compared with an annual rise of 13.04% a week earlier.
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    A man carries sacks filled with cabbages at a wholesale vegetable market on the outskirts of Jammu.

    India's food price index rose 8.84% and the fuel price index climbed 13.96% in the year to Sept. 10, government data on Thursday showed.

    In the previous week, annual food and fuel inflation stood at 9.47% and 13.01%, respectively.

    The primary articles index was up 12.17%, compared with an annual rise of 13.04% a week earlier.

  • <b><p>A Bank of America sign is pictured outside a bank branch in Charlotte, North Carolina.</b>
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Moody&#39;s Corp cut the debt ratings of Bank of America Corp, Wells Fargo & Co and Citigroup Inc on Wednesday, saying the US government is getting less comfortable with bailing out large troubled lenders.
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The government is "more likely now than during the financial crisis to allow a large bank to fail should it become financially troubled," the ratings agency said.
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Moody&#39;s decision hit Bank of America hardest as it cut both the long-term and short-term debt of the holding company and long-term deposits at its lead bank. The ratings agency cut only the short-term debt of Citigroup and limited the Wells&#39; cut to its senior debt and to deposits at its lead bank.
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    A Bank of America sign is pictured outside a bank branch in Charlotte, North Carolina.

    Moody's Corp cut the debt ratings of Bank of America Corp, Wells Fargo & Co and Citigroup Inc on Wednesday, saying the US government is getting less comfortable with bailing out large troubled lenders.

    The government is "more likely now than during the financial crisis to allow a large bank to fail should it become financially troubled," the ratings agency said.

    Moody's decision hit Bank of America hardest as it cut both the long-term and short-term debt of the holding company and long-term deposits at its lead bank. The ratings agency cut only the short-term debt of Citigroup and limited the Wells' cut to its senior debt and to deposits at its lead bank.

  • <b><p>Suzuki Motor Corp Chairman and CEO Osamu Suzuki speaks in Tokyo.</b>
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Suzuki Motor Corp said on Thursday it had sent a letter to estranged partner Volkswagen AG refuting the German automaker&#39;s claim that it had breached a contract between the two firms, demanding a public retraction by Sept. 30.
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The letter was sent on Thursday in Suzuki CEO Osamu Suzuki&#39;s name and addressed to his VW counterpart, Martin Winterkorn, Suzuki said in a statement.
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Suzuki said last week it wanted to end its equity alliance with Volkswagen after the latter accused it of violating their pact by agreeing a diesel engine deal with Italy&#39;s Fiat.
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"Since Suzuki&#39;s global reputation has been significantly damaged by the announcement made by Volkswagen, we have requested Volkswagen to revoke its notice claiming that Suzuki is in breach of the Framework Agreement and to publicly announce such revocation by Sept 30," Suzuki said.
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    Suzuki Motor Corp Chairman and CEO Osamu Suzuki speaks in Tokyo.

    Suzuki Motor Corp said on Thursday it had sent a letter to estranged partner Volkswagen AG refuting the German automaker's claim that it had breached a contract between the two firms, demanding a public retraction by Sept. 30.

    The letter was sent on Thursday in Suzuki CEO Osamu Suzuki's name and addressed to his VW counterpart, Martin Winterkorn, Suzuki said in a statement.

    Suzuki said last week it wanted to end its equity alliance with Volkswagen after the latter accused it of violating their pact by agreeing a diesel engine deal with Italy's Fiat.

    "Since Suzuki's global reputation has been significantly damaged by the announcement made by Volkswagen, we have requested Volkswagen to revoke its notice claiming that Suzuki is in breach of the Framework Agreement and to publicly announce such revocation by Sept 30," Suzuki said.

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