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Asian markets slide as US Fed sees slow recovery
Asian markets fell as investors gained little encouragement from the Fed, which vowed to maintain a very loose monetary policy in the absence of inflation. Japans Nikkei share index slid 1.3 percent to a one-month closing low, while Chinese shares rose 0.9 percent to a three-month closing high on signs economic recovery.
BNP Paribas reports 44.8% quarterly profit leap
BNP Paribas bank reported a 44.8-percent rise in net quarterly profits, beating expectations with strong investment banking and markets performance. Net profit was 1.305 billion euros (1.94 billion dollars) compared with an expectation of 1.197 billion euros by analysts as polled by Dow Jones Newswires.
US Fed leaves key rates unchanged; says economy is improving
The US central bank has retained near-zero rate regime to boost the country's fragile recovery and said cheap credit would continue for an "extended period". After a two-day policy meeting, the Federal Reserve decided to retain the benchmark rates in the range of 0 to 0.25 per cent.
Deutsche Telekom Q3 net income up 7 per cent
Deutsche Telekom AG reported third-quarter net income rose 7 percent as it remained focused on controlling costs and developing key markets in the US, Britain and Poland. Telekom, based in Bonn, reported net income of euro959 million ($1.4 billion) in the July-September period compared with euro895 million a year earlier.
Unilever reports 36 percent fall in Q3 profit
Unilever NV, the maker of Dove soaps and Ben & Jerry's ice cream, says its profit fell 36 percent in the third quarter, due mostly to the sale of operations a year ago.The company has reported net profit of euro 1.05 billion ($1.56 billion), down from euro 1.64 billion in the same period a year earlier, when Unilever booked a euro 487 million gain on the sale of its seasonings businesses.
Shiv Nadar rules out starting a venture capital fund
At a time when IT czars are foraying into venture capital, Shiv Nadar, chairman of the country's fourth largest software services provider HCL Technologies is fighting shy of any such plan as he sees a conflict of interest in starting a venture capital fund while hes still part of HCL, a stand contrary to that taken by his industry peers- Infosys chief mentor NR Narayana Murthy and Wipro chairman Azim Premji.
