Business Briefs 04-07-2012

Barclays CEO resigns Montek meet US growth Citi profit SAIL-Kobe

By The Telegraph Online
  • Published 4.07.12

Barclays CEO resigns

London, July 3: Barclays chief executive Bob Diamond quit today under fire from politicians and regulators as the bank defended its actions in an interest rate-rigging scandal, which involves a dozen banks and threatens to drag in the government and the Bank of England. “The external pressure placed on Barclays has reached a level that risks damaging the franchise. I cannot let that happen,” Diamond, 61, said.

Montek meet

New Delhi, July 3: Industrialists Anil Ambani and J.P. Goenka are scheduled to meet Planning Commission deputy chairman Montek Singh Ahluwalia tomorrow.

US growth

Washington, July 3: The International Monetary Fund today pared its growth forecast for the US economy and warned that the Obama administration could be slicing the deficit too fast for the weak economy.

Citi profit

Mumbai, July 3: Citi India has reported nearly 35 per cent rise in net profit at Rs 1,922 crore for the 2011-12 fiscal, on the back of a strong growth in commercial banking and mortgage businesses.


New Delhi, July 3: Steel Authority of India (SAIL) will sign the final pact with Japan’s Kobe Steel next week for a joint venture which will set up a facility to produce iron nuggets at an investment of Rs 1,500 crore.