Mazda stake sale

Tokyo, Nov. 18: Ford Motor Company will sell a 20 per cent stake in Mazda Motor Corporation to raise cash. Mazda will buy back 6.87 per cent of its own shares from Ford for up to 17.9 billion yen ($185 million), keeping them as treasury stock. More than 20 business partners will purchase the remaining 13 per cent.

Power plans

New Delhi, Nov. 18: The government is considering new norms for bulk purchase of supercritical thermal power technology to meet the requirement of power producers in the country, power secretary Anil Razdan said. The ministry requires power for NTPC and Damodar Valley Corporation, Razdan said.

HSBC job cut

Mumbai, Nov. 18: HSBC has axed 10 employees in its investment banking arm in India soon after the bank announced its plans to slash 500 jobs across its Asian operations.

Apollo Tyres

Mumbai, Nov. 18: Sebi has settled the Apollo Tyres trading case on payment of a consent fee of Rs 1 crore. The applicants included Apollo Tyres, Amazer Investment and Finance, Delicious Trade Links and Wonderful Tradings.

Parsvnath deal

Mumbai, Nov. 18: Parsvnath Developers will sign a joint venture with Spanish company Constructora San Jose to bid for infrastructure development projects.