JP Morgan downgrades Maruti to 'underweight'
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.
Idea, RComm gain; new regulations seen as positive
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.
Road building revival may dispel infra gloom
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
FBI relies on secret U.S. surveillance law
The FBI has used secret evidence obtained under the Foreign Intelligence Surveillance Act to prosecute at least 27 accused terrorists since 2007, a Reuters review of public records shows. Full Article
Batteries hold key to wearable device revolution
Longer-lasting batteries are crucial for a new crop of wearable computers whose rise may upend Apple and Google's dominance of mobile devices, two of the field's pioneers say. Full Article
Putin, Obama face off over Syria
The leaders of Russia and the US, now openly backing opposing sides in Syria's civil war, played down their differences after talks where tensions had clearly flared over the conflict. Full Article
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Breakingviews
India in depth: Diaspora's yield hunt gone wrong
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
Special report
Bad Karma: How Fisker burned through $1.4 billion on a 'green' car
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
Breakingviews
China’s spiking rates create winners and worriers
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
World's oldest bank limps into 21st century
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
In defense of publishing leaks
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
Veteran bands Motorhead, Black Sabbath top UK metal music awards
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
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