On Tuesday, the Hong Kong stocks ended slightly lower after changing directions several times during the session, tracking declines in China’s shares. As the Australian dollar weakened, stocks fell in Europe and Asia, after an index of Chinese manufacturing slipped to a six month low. Mark Tan, who helps oversee about $11billion at UOB Asset Management Ltd, in Singapore said , “Concerns over a China slowdown are going to weigh on the rest of the region. The Australian tax came as a bit of surprise. Stock prices will take a one-off hit.”

On Tuesday, China’s key stock index fell by 1.2 percent on Tuesday to its lowest close in seven months, led by the bank and property shares after China’s Central Bank raised bank’s reserve requirement ratios to fend off inflation. The market closed on Monday for a national holiday with the Shanghais Composite Index ended at 2,835 points.

On Monday, the Craiglist. com was subpoenaed by Connecticut’s attorney General, who is investigating whether the popular online was classified ad service is doing enough to quash prostitution on its site and whether it may be profiting from it. It may be noted that last year , “erotic services ad” posted by Craig list was promptly replaced with its new “adult” category and said that it would be closely screened.

According to intra day data from Markit, the cost of insuring $10 million of Goldman’s debt using five year credit default swaps is $155,500. With the capital markets calmed and Goldman prospering its credit default swaps typically cost less than those of Cites and Morgan Stanley as JP Morgan is set to have the lowest risk among large US banks. The company said the lawsuits were filed since April 22 in federal and state courts in New York.

The New York based company, NYSE Euro next, the largest U. S stock exchange operator by total market share, said the net income climbed to $13410 million compared with $104 million a year earlier. The first quarter profit increased by 25 percent driven by strong growth of its derivative businesses. NYSE Euro next was formed in 2007 by the combination of NYSE Group Inc and pan European bourse operator Euro next NV with the first quarters earnings also hurt by costs of its NYFIX acquisition.

According to a statement today, six flags cut its obligations to $1 billion from the $2.7 billion it owed to creditors and holders of redeemable preferred stock as of Dec 31. A group of investors is buying $275 million worth of new stock being issued by New York based Six Flags. According to the announcement the firm plans to apply to list the new common stock of six flags entertainment on the New York Stock Exchange.

While SBI has decided that it will extend the deadline for its teaser rates by two months, India's biggest private bank, ICICI Bank allowed its rates to expire on April 30.

This step was taken even while the RBI has taken measures to reduce the liquidity in the market and thus curb the money supply.

SBI's deadline too, was supposed to be April 30, however the bank has extended the scheme.

Talking about this, spokesperson of ICICI Bank said that finishing the rates was the final decision taken by the bank.

The National Stock Exchange (NSE) has said that it is delaying the launch of futures and options trading in Gold Exchange Traded Fund after the Forward Markets Commission (FMC) raised objection over the regulatory prospects.

"In view of the concerns raised by another regulator, the Exchange in consultation with Securities and Exchange Board of India (SEBI) has deferred the launch till further notice," NSE said in a statement.

The bailout of debt-laden Greek economy will see a bailout package worth 135 billion euros from the European Union and the International Monetary Fund over a period of three years.

The new package is much higher than the 45 billion euros offered about three weeks ago. The Greek economy moved towards bankruptcy after the rating agency Standard & Poor's brought down the creditworthiness to junk status this week.

Union Agriculture Minister Sharad Pawar has said that the sugar prices in markets around the country are falling to reasonable level after touching a high of Rs. 50 a kg in the previous year.

“From last year's price of Rs. 50, sugar is now being sold at Rs. 35 a kg in the retail market and will further come down in weeks to come,” said Mr. Pawar.

The German luxury car maker, BMW has announced the launch of its new-generation 5-Series sedan in the Indian market.

The new generation model is priced well below the price of cars from the competitors and is expected to help the company sustain its position in the market. The new line up includes the 523i & 535i petrol version and 525d & 530d diesel version.

The joint venture telecom operator between Unitech and Norway's Telenor, Uninor has introduces lower caller rates under its new ‘dynamic pricing' strategy.

The plan named, ‘24x7 Badalta Discount Plan' will offer discounts on rates in the range of 5 per cent and upto 60 per cent depending upon the network traffic. The subscribers will get different discount rates on their calls.