WALL STREET JOB LOSSES MAY BE ASIA'S GAIN

Within hours of Bank of America agreeing to buy Merrill Lynch this week, Indian financial services firm Ambit hired five Merrill executives, a sign that Asia hopes to gain from massive Wall Street layoffs.

The Economic Times

SBI, others to raise $3 bn for Tata Motors

State Bank of India (SBI) led consortium will raise $3-billion loan by April for Tata Motors’ acquisitions abroad, including the $2-billion Jaguar and Land Rover deal. Apart from SBI, the consortium will include leading entities like Citibank, Standard Chartered, BNP Paribas, JP Morgan, Tokyo Mitsubishi UFJ and Mizuho Financial Group, a source said. The country’s largest lender is also in talks with two-three public sector banks to be a part of the consortium...

The Economic Times
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