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'We have support of US govt, unions on Asarco'
NRI billionaire Anil Agarwal-led Vedanta Resources today said it will not offer more than the already announced $1.87 billion to buy bankrupt American miner Asarco but is confident that it can clinch the deal with the support of the US government and the trade unions.

Future Group to bring financial service businesses under JV
Future Group, the company that promotes India’s largest publicly-traded retailer, Pantaloon, is planning a joint venture company by bringing together Future Money, its consumer finance business; Future Generali, its insurance business; and Centrum Direct, the foreign exchange service provider. The JV, under a single management, will provide its service through the stores of Pantaloon Retail.

News of the day

Tata Steel net dips 50% to Rs 903 cr
Tata Steel"s net profit dipped 49.4 per cent to Rs 902.94 crore in the second quarter of 2009 compared to Rs 1787.81 crore in the quarter ended September 30, 2008. Its total income plunged 18.23 per cent from Rs 7054.33 crore for the quarter ended September 30, 2008 to Rs 5768.16 crore for the quarter ended September 30, 2009.
Management

Future Group expands menu; to set up hotels in next 6 mths

Kishore Biyani-led Future Group is planning entry into hotel business and may set up the first one in the next six months. - Future Value Retail to start functioning from Jan 1 - 2009: Organised retail feels recession pangs - Even as sales recover, retailers continue working on costs - Future Group to bring financial service businesses under JV - Pantalooon Retail raises Rs 500 cr via QIBs - "Take loan, will grow" model led to Vishal"s big fall "We will set up hotels in the Indian style where people can get indigenous food," Future Group Chairman Kishore Biyani said at a conference here. The first hotel will come up in Raipur within the next six months, he said. The Group also plans to set up consumer and entrepreneur training schools and the first among them would come up in Mumbai"s outskirts. "We will start three-four consumer and entrepreneur training schools in the country within a time span of 6-8 months. The first among them will come up in the outskirts of Mumbai. Our plan is to implement an innovative model of training in these schools," Biyani said.


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