Bakshi to join Metro
Calcutta, April 20: Rajeev Bakshi will join Metro Cash and Carry India as vice-president and managing director (designate) from June 1. He will officially take over as managing director from Sylweriusz Faruga in December after an intensive induction programme with the Metro Group’s international operations.
New York, April 20 US government-backed insurer AIG is considering legal action against Goldman Sachs over losses incurred on $6 billion worth of insurance deals on mortgage-backed securities, The Financial Times has reported.
Mumbai, April 20: The Securities and Exchange Board of India is looking to put a check on mis-selling of mutual fund products by distributors through a compliance certification examination. Sebi will come out with an online test for distributors by May or June.
New Delhi, April 20: Unitech has announced the demerger of its infrastructure operations, including the telecom business, into a new entity to unlock the value of non-core businesses.
Milan, April 20: Fiat’s chairman Luca Cordero di Montezemolo will step down to be replaced by vice-chairman John Elkann. The Fiat scrip hit a three-month high today on speculations that the car maker will a spin off of its auto business.
New Delhi, April 20: Citu and HMS — two of the five trade unions, which had called off their proposed strike against divestment in Coal India — said they would go ahead with a three-day agitation next month.