Moody’s Investors Service today downgraded the senior debt and deposit ratings of 12 UK financial institutions. The rating actions include a one-notch downgrade of Lloyds TSB Bank plc (to A1 from Aa3), RBS (to A2 from Aa3), Santander UK plc (to A1 from Aa3), Co-Operative Bank plc (to A3 from A2), a two-notch downgrade of RBS plc (to A2 from Aa3) and Nationwide Building Society (to A2 from Aa3); and downgrades of one to five notches of 7 smaller building societies. The ratings of Clydesdale Bank were confirmed at A2 (negative outlook).
Friday 7 October 2011
L&T may again take fresh talks to sell its IT business
L&T may again take fresh talks to sell its IT business L&T Infotech and Fujitsu may be the frontrunner to bag the stake,Fujitsu is likely to be front runner while Capgemini too has shown interest in L&T Infotech. Both the players are believed to have entered due diligence stageHowever, both the companies have declined to comment calling it a mere market speculation. As per the deal, the buyer will get an eight-year IT outsourcing contract from L&T
Inflation no.s at 10.84% during the week compared to 11.43% in the previous week
Food inflation, as measured by Wholesale Price Index (WPI), stood at 9.13% in the previous week. The rate of price rise in food items was 16.88% in the corresponding week of 2010.
Food inflation rose to 9.41% for the week ended September 24 on the back of costlier vegetables, fruits, milk and protein-based items.
As per data from the Ministry of Commerce, vegetables became dearer by 14.88% year-on-year during the week under review, while potatoes and onions grew more expensive by 9.34% and 10.58%, respectively.
Fruit prices went up by 11.72%, while milk was up 10.35% and eggs, meat and fish became 10.33% more expensive.
Cereals became dearer by 4.57% and pulses were up 7.54% on an annual basis during the seven-day period.
Inflation in primary articles stood at 10.84% during the week under review, compared to 11.43% in the previous week. Primary articles have a share of over 20% in the WPI.
Food inflation rose to 9.41% for the week ended September 24 on the back of costlier vegetables, fruits, milk and protein-based items.
As per data from the Ministry of Commerce, vegetables became dearer by 14.88% year-on-year during the week under review, while potatoes and onions grew more expensive by 9.34% and 10.58%, respectively.
Fruit prices went up by 11.72%, while milk was up 10.35% and eggs, meat and fish became 10.33% more expensive.
Cereals became dearer by 4.57% and pulses were up 7.54% on an annual basis during the seven-day period.
Inflation in primary articles stood at 10.84% during the week under review, compared to 11.43% in the previous week. Primary articles have a share of over 20% in the WPI.
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