MUMBAI Banks plan to take control of indebted infrastructure company Jaiprakash Associates Ltd by swapping part of its loans for equity, two banking sources with direct knowledge of the matter said on Friday.
Recent Business News
MUMBAI JPMorgan Chase & Co said on Friday it has won approval from India's central bank to open three more branches in the country even as most foreign banks are scaling back their operations in India.
MUMBAI/SYDNEY Indian billionaire Gautam Adani-controlled conglomerate Adani Enterprises plans to build a copper smelter with an eye to furthering its ambitions in the solar sector, said a source familiar with the plan.
LONDON/PARIS Two of the European Central Bank's top policymakers pressed Britain on Friday to provide a clear-cut plan for leaving the European Union, to prevent more economic damage.
LONDON The prospect of further cuts in interest rates and bond-buying to support a fractured global economy kept stock markets on the up in Europe and Asia on Friday, and drove U.S. and European government bond yields to their lowest in years.
U.S. stocks extended their gains and were up for the fourth straight day on Friday as strong manufacturing data boosted prospects for an improvement in the economy.