Lakshmi Mittal Sweetens Hostile Takeover Bid of Arcelor

May 4th, 2009 Emulex board rejects Broadcom takeover bid COSTA MESA, Calif. — Computer network gear maker Emulex Corp.

May 7th, 2009 BANGALORE - Undaunted by US President Barack Obama's Bangalore-Buffalo remark and proposal to extend tax benefits to those creating job opportunities to Americans, experts in the Indian IT industry said the comments had nothing to do with outsourcing or with India. It is an instance of Obama's views being misinterpreted, said Som Mittal, President of Nasscom, while speaking to media persons here on Wednesday.

February 26th, 2009 BANGALORE - Indian IT industry body Nasscom has reacted cautiously to US President Barack Obama's remarks on outsourcing, saying global outsourcing had benefited US firms that generate over 50 percent of their business overseas. 'American companies generate more than 50 percent of their business outside the US.

May 6th, 2009 BANGALORE - The Indian IT industry is set to witness a single-digit growth in software and services exports in 2009-10 because of global recession and lower technology spending in the US and Europe, a top industry body official said Wednesday. 'Software exports of Indian IT industry are projected to grow in single digit this fiscal due to economic slowdown and lower tech budgets in major markets like the US and Europe.

February 12th, 2009 MUMBAI - With a view to helping companies like fraud-hit Satyam Computer Services, India's markets watchdog Friday relaxed takeover norms, giving their reconstituted boards the power to lower the target price for open offers. The Securities and Exchange Board of India (SEBI) also said that the exceptional relaxation of takeover norms through open offers will only apply where the central or state governments replace the target company's board.

January 11th, 2009 HYDERABAD - Disgraced former chairman of Satyam Computer Services B. Ramalinga Raju has confessed before investigators that he manipulated the balance sheet of the company for the last seven years to attract more business and avoid any possible hostile acquisition.

March 6th, 2009 MUMBAI - Hyderabad-based Satyam Computer Services has secured the nod from the India's markets regulator to sell 51-percent majority stake by way of a global auction to put the software bellwether, hit by a $1.43-bilion fraud, back on rails. The Securities and Exchange Board of India (SEB) gave its permission to Satyam to facilitate a global competitive bidding process so as to sell the majority stake to an investor, the company said in a regulatory filing Friday.

March 17th, 2009 HYDERABAD - The Central Bureau of Investigation (CBI), which is probing the Rs.78 billion (Rs.7,800 crore) fraud in Satyam Computer Services, Tuesday sought custody of disgraced chairman of the IT major B. Ramalinga Raju, his brother B.

February 10th, 2009 MUMBAI - The National Association of Software and Services Companies (Nasscom) Wednesday signed an agreement with Colombia's Federation of Software and Related Technologies (Fedesoft) to enhance software trade between the two countries. The memorandum of understanding (MoU) was signed at the India Leadership Summit, organised by Nasscom here, by its president Som Mittal and his Fedesoft counterpart Alberto Pradilla Bermudez.

March 26th, 2009 NEW YORK - US computer firm IBM plans to lay off 5,000 workers in its service area in the US, and outsource the majority of them to India, the US business daily Wall Street Journal reported Thursday, citing an insider. At year's end IBM employed around 400,000 people worldwide, with the Wall Street Journal reporting that the company had laid off around 4,600 workers in areas of software, sales and semiconductors at the start of the 2009.

May 5th, 2009 NEW DELHI - India Inc believes the move by the Barack Obama administration to reduce tax breaks for US firms that ship jobs overseas will hit American companies more than impact on the Indian outsourcing industry. 'It's a more US-US issue rather than one aimed at stopping outsourcing, or off-shoring, or anything to do with India,' said Som Mittal, president of the National Association of Software and Service Companies (Nasscom), a representative boddy for the industry.

March 10th, 2009 HYDERABAD - The investigations into Rs.78 billion (Rs.7,800 crore) scam in Satyam Computer Services picked up momentum as the Central Bureau of Investigation (CBI) Tuesday questioned the IT firm's disgraced former chairman B. Ramalinga Raju and four other accused.

January 25th, 2009 NEW YORK - Pharmaceuticals maker Pfizer Inc is expected to announce its purchase of competitor Wyeth Monday in a deal worth $68 billion, The New York Times reported early Monday on its website. Citing people involved in the negotiations, the Times reported that Pfizer's board of directors agreed late Sunday to the takeover.

September 22nd, 2009 Yahoo to spend $100M in bid for more brand buzzSAN FRANCISCO — Yahoo Inc. believes a lot of its good work has been overlooked by investors and the media so it's spending more than $100 million to get the word out to consumers directly.

July 24th, 2009 Stock rally pauses on Microsoft, Amazon earnsLONDON — European and U.S. stock markets mostly fell Friday as downbeat U.S.