The American markets had a mixed day today with the first half of the trading day in the green and reversing its course during the later part. There is a sign of recovery just an hour before the closing bell but the bears are heavily back pushing the markets to close in the red.
NASDAQ lost 30-odd points to close down by 1.33%. Dow Jones Industrial Average is down 0.53%, S&P 500 is down 0.76%
Most advanced stocks of the day include Multi-Fineline Electronix, Inc., JDS Uniphase Corporation, First Keystone Financial, Inc., Penson Worldwide, Inc. and Orckit Communications, Limited while the most decliners of the day include IDM Pharma, Inc., Travelzoo Inc, Energy West, Inc., Double-Take Software, Inc. and CommVault Systems, Inc. amongst others.
News of Time Warner planning to split off AOL’s Dial-up service are on. Analysts say that this could be termed as the first step in the group’s plan to sell its Net access business.
February 7th, 2008
The Indian Life Insurance business is all set to get more crowded. Public sector banks Canara Bank and Oriental Bank of Commerce (OBC) along with Global banking group HSBC are coming together for a foray into the life insurance business in India. Market watchers says that the investment of HSBC that it wishes to put into Insurance segment will make it the largest by any foreign banking group in the Indian insurance industry. Canara Bank will have 51% stake, OBC 23% while the remaining 26% will be from HSBC (the FDI permitted limit).
There are already 15 private sector insurance companies apart from the Government-owned and the leader in the segment – Life Insurance Corporation of India. The trio wishes to start the business by the end of the calendar year and would soon get ready to meet the regulatory norms as prescribed by the Insurance Regulatory and Development Authority (IRDA).
March 6th, 2007
Life Insurance Corporation of India, India’s largest Insurance company, has announced the launch of two new plans targeted at future of children. The plans, Child Career Plan and Child Future Plan, according to the advertisement that came today in leading newspapers says will keep children two steps ahead.
The general features of the plan are Survival benefits suitable for higher education / career, Risk cover for extended term, Premium waiver benefit (PWB) available as an optional rider and Auto cover facility.
February 8th, 2007
The Finance Ministry is making preparations for putting the Insurance Bill on table at any time. International Insurance companies are eagerly waiting for it because one of the point in the bill would increased the FDI limit in Insurance by a large percentage. Need to wait and see how it turns out.
January 18th, 2007