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'India can emerge as the resource base for News Corp'
Ashish Sinha / New Delhi August 25, 2009, 0:40 IST

US unemployment rate slips to 9.4%
The number of jobs lost in the US came down sharply by 247,000 as the unemployment rate declined to 9.4 per cent in July, one of the strongest indications yet that recession in the world"s largest economy is easing.

News of the day

Trading indicates fresh declines in near future
Both Nifty and Sensex on Thursday closed in the red on profit-booking and weak global markets. Automobiles, information technology, realty, healthcare and FMCG (fast moving consumer goods) stocks led the fall. The Nifty, as expected, moved in a narrow range, faced resistance above 5,300, and closed at 5,263, down 19 points.
Corporate

Tata Power completes FCCB allotment

Tata Power today announced the completion of allotment of $300 million Foreign Currency Convertible Bonds (FCCBs) on November 20. - Dish TV Announces pricing of GDR offering - India Inc takes swap route to beat FCCB redemption blues - REI Agro raises $105 mn through FCCBs - Tata Steel offers to swap $875 mn of securities - Tata Steel okays exchange offer for $875mn securities - Tata Power: Cost side story Tata Power had earlier this month launched and priced $250 million+ upsize option of $50 million, 5 years and 1 day, 1.75 per cent coupon FCCB offering. The FCCBs are convertible at 10 per cent premium over Tata Power’s closing share price on National Stock Exchange (NSE) on November 5 and bear a yield to maturity of 3.5 per cent per annum calculated on a semi-annual basis. These bonds will be listed on the Singapore Stock Exchange. Nomura is the sole underwriter and book runner to the offering.


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