Sony plans MGM buyout

Tokyo, May 19: Sony Corp said it was in exclusive negotiations with movie studio Metro-Goldwyn-Mayer Inc (MGM) on a possible takeover that could bolster its film library, but put a dent in its finances. Sony vice-chairman Howard Stringer said it was “preparing an exclusive analysis” of MGM and that it was “four or five days” into a 20-day negotiating period.

State loans

Mumbai, May 19: The Reserve Bank (RBI) today said 19 state governments have offered to sell on-tap 5.70 per cent State Development Loan, 2014, for an aggregate amount of Rs 8,000 crore on May 26.

Greenspan term

Washington, May 19: President Bush formally nominated Alan Greenspan for a fifth four-year term as chairman of the Federal Reserve, fulfilling a pledge Bush made last year and reassuring investors about the most powerful economic post in the country.

Sardar Sarovar

New Delhi, May 19: An investors’ forum has filed a petition in Delhi High Court to prevent prepayment of costly bonds by the Gujarat government-backed Sardar Sarovar Narmada Nigam Ltd.

IFCI merger

New Delhi, May 19: Industrial Finance Corporation of India (IFCI) employees today appealed that the ailing financial institution (FI) should be merged with another FI instead of a public sector bank.