Reuters Market Eye - J.P. Morgan downgrades Maruti Suzuki to "underweight" from "neutral" and cut its target price to 1,510 rupees from 1,750 rupees, citing muted passenger car demand in India and increasing competition in higher value segments.
Reuters Market Eye - Telecom shares gain after the new roaming regulations are seen as less stringent than expected and with a negligible financial impact, dealers say.
K. Ramchand, managing director at one of India's biggest road builders, is doing something unusual to help dispel the gloom pervading much of the country's infrastructure sector today: bidding for new projects. Full Article | Graphic: India's road network
India's banking system may lose the only friend it has had the past couple of years: the diaspora. For every $1 of time deposits that Indian banks have raised from residents in the past year, 13 cents has come from the estimated 25 million people of Indian origin who live in other countries. On all but a fraction that amount, the currency risk lies with the depositor. Full Article
Danish designer Henrik Fisker knows how to style a sexy car. Among his works is the BMW Z8, driven by James Bond in "The World Is Not Enough," where the sleek roadster gets sliced in two by a helicopter armed with giant saws. Fisker's latest piece of rolling sculpture is the comely Fisker Karma hybrid sports sedan - and it may meet an equally ugly end. Full Article
China’s biggest banks have thumbed their noses at the government. The Ministry of Finance sold just two-thirds of the 15 billion yuan of bills it offered on June 14, according to Bloomberg. The failed auction is not a vote of no confidence, or a sign that interest rates are too low, but a reflection of reality: banks can get better returns lending to each other. Full Article
The world’s oldest bank is limping into the 21st century. Monte dei Paschi’s stock jumped after the Italian bank proposed removing the voting rules favouring its controlling foundation. The move will allow the stricken lender to attract new capital, and Brussels to approve state aid. Not that there was much choice. All it needs now is a buyer. Full Article
No U.S. journalist has ever been successfully prosecuted for publishing classified information. This may seem counterintuitive. If it’s against the law to leak classified information, why is it legal for journalists to publish it? The answer lies in a carefully engineered balance between the government’s prerogative for secrecy and the press’s freedom to report the news. Commentary
British rock bands Motorhead and Black Sabbath were crowned the kings of heavy metal, winning the top accolades at the UK's top metal music awards, the Metal Hammer Golden Gods. Full Article