BEIJING (Reuters) - China, which overtook the United States as the world's No. 1 auto market in January, sold 923,154 cars last month, 79.6 percent more than a year earlier, state media reported on Saturday. That would suggest a month-on-month drop of about 9.8 percent from September, when sales jumped 83.62 percent from a year earlier to 1.02 .. more »

Freddie Mac's losses narrowed to $6.3 billion in the third quarter, but the government-controlled mortgage finance company didn't need a federal cash infusion. The McLean, Va.-based company has received about $51 billion since it was seized by federal regulators in September 2008, but said it didn't need any more money for the .. more »

Kolkata: After a year of lull, signs of recovery were evident at the IIM-C campus on Wednesday with the world s leading finance and consulting firms flocking the top business school on day one of summer placements for the 2009-2011 batch. The day saw a healthy mix of regular and new recruiters, said IIM-C sources. To the great relief of the batch .. more »

The McLean, Va.-based company has received about USD51 billion since it was seized by federal regulators in September 2008, but said it didn't need any more money for the second-straight quarter. However, he cautioned, high unemployment and rising foreclosures will continue to "impede a full recovery," and the company may need more money from the .. more »

Washington: Freddie Mac says its losses narrowed to $6.3 billion in the third quarter and the company didn’t need a federal cash infusion. The McLean, Virginia-based mortgage finance company has received about $51 billion since it was seized by federal regulators in September 2008, but avoided tapping the government for more aid for the .. more »

Outstanding loans fell by 217.50 billion rupees (USD4.6 billion) to 28.69 trillion rupees in the two weeks to October 23. Non-food credit fell by Rs 150.42 billion to Rs 28.33 trillion in the two weeks, and food credit fell by Rs 67.08 billion to Rs 360.13 billion in the same period. Bank deposits fell by Rs 84.09 billion to Rs 41.53 trillion in .. more »

The steps could be part of a civil aviation ministry restructuring plan that will be taken up by a Group of Ministers (GoM) next Thursday to decide on Air India’s future course and its immediate demand for a Rs 5,000-crore equity infusion. A senior official said that the carrier plans to scrap 650 flights that fly on what he .. more »

The government is set to announce the norms for taxation of fringe benefits that have become taxable in the hands of employees after a change effected in the 2009-10 Budget, a finance ministry official told ET. The norms will detail how the perks will be taxed and what benefits will come under the tax net. In the absence of guidelines, most .. more »

Shah, 27, left Moody’s in late 2007 to join his father’s business in Mumbai. An ET NOW team visited Shah’s Mumbai lawyer JJ Bhatt’s office and was told Bhatt was currently in the US. A top Central Bureau of Investigation official told ET NOW they have not received any .. more »

She’s just ousted serious fashion industry insiders, including the founders’ son and a former head of Gucci, and convinced the German insolvency administrator and a bunch of hungry creditors to make her first foray into the world of high fashion by buying out bankrupt German fashion brand Escada through a family .. more »

The process, which began on November 2, was wrapped up by late Thursday evening, with investment banks making as many as 77 offers on Day Zero (first day) alone, a number significantly up from last year’s 35. Companies, such as Goldman Sachs, Morgan Stanley and Barclays, JP Morgan, Nomura, HSBC, Deutsche Bank and Citigroup made .. more »

Financial service major Citigroup is planning to relaunch Citi Alternative Investments, a unit that contains its hedge fund operations, a media report said. "Citigroup is poised to relaunch the unit containing its troubled hedge fund operations after nearly two years of poor performance, internal strife and investor unrest," the .. more »

In a memorandum submitted to the Malaysian Education Ministry, eleven Malay-Indian organisation have asked the ministry to allow Indian students to take Tamil Literature as an additional subject in the SPM examination In their memorandum, the organizations suggested that the ministry should give an option to Indian students to drop the Moral .. more »

Financial service major Citigroup is planning to relaunch Citi Alternative Investments, a unit that contains its hedge fund operations, a media report said. "Citigroup is poised to relaunch the unit containing its troubled hedge fund operations after nearly two years of poor performance, internal strife and investor unrest," the .. more »

New Delhi: Discussing a report by software industry group Nasscom which says that 75 per cent engineering students in India are unemployable, education experts here on Saturday said that the Indian higher education system must give skill building and practical training equal importance as academics to give them an edge. Mr A.D. Sahasrabudhu, .. more »