Meet on reforms

New Delhi, Dec. 7: Minister of state for finance Jayant Sinha will meet state finance secretaries tomorrow to discuss various initiatives taken by the government in the past few months. "Secretaries in the finance ministry will make presentations showing various initiatives taken by the government, including the expenditure on social security schemes, banking sector revamp and various other reform measures to improve the ease of doing business," an official said.

ITC stake buy

New Delhi, Dec. 7: ITC has acquired an 87.06 per cent equity share capital of group firm Classic Infrastructure & Development Ltd for Rs 11.38 crore. The share has been acquired through Greenacre Holdings, a wholly-owned subsidiary of Russell Credit, an arm of ITC. Classic Infrastructure & Development Ltd is into property maintenance and management.

GE move

Stockholm, Dec. 7: GE has scrapped a $3.3-billion plan to sell its home appliance business to Swedish company Electrolux, a deal opposed by US regulators over concerns about competition. Electrolux is the world's second-biggest home appliance maker after US rival Whirlpool.