Consumer watchdog draws fire from banking industry, threatens old profit model

September 14th, 2009 NEW DELHI - Ministry of Textiles and FICCI are jointly organising a workshop on 'Strengthening-Government-Industry-Consumer Partnership in Protective Textiles' on Tuesday. Over 100 delegates from various sectors like Defence, Police, Security, Regulators, State Government, Hotels, Multiplexes and industry are attending the workshop.

September 4th, 2009 AGARTALA - The Reserve Bank of India (RBI) will soon engage agents to provide banking services in villages, says RBI deputy governor Usha Thorat. "To act on behalf of the banks and to provide certain banking services among the uncovered people, non-government organisations, self-help groups, cooperatives, financial bodies, retired teachers and government employees and responsible citizens would soon be employed as banking correspondents or agents," Thorat said while addressing a seminar in Agartala late Friday.

September 1st, 2009 New fire in Southern California threatens homesYUCAIPA, Calif. — A small fire has erupted in San Bernardino County in Southern California, threatening six homes and burning about five miles from a 1,000-acre fire.

August 6th, 2009 Top executive at French bank SocGen resignsPARIS — Societe Generale SA says that a top executive whose career was damaged by the French bank's multibillion dollar trading scandal last year has resigned. Jean-Pierre Mustier is the former head of corporate and investment banking and one-time boss of disgraced trader Jerome Kerviel.

August 5th, 2009 Henkel 2Q net profit up sharply to euro143 millionFRANKFURT — German consumer goods company Henkel AG, maker of Persil detergent and Loctite adhesive, said Wednesday its net profit in the second quarter rose sharply from the year ago quarter, when it took significant restructuring charges. The Duesseldorf-based company said net profit for the April-June period rose 276 percent to euro143 million ($206 million) from euro38 million in the second quarter of 2008.

July 23rd, 2009 Credit Suisse reports 29 percent rise in 2Q profitZURICH — Swiss bank Credit Suisse Group on Thursday reported a 29 percent increase in second quarter net profit after a strong performance in its investment unit drove up core revenues. The net profit of 1.57 billion Swiss francs ($1.41 billion) compared with 1.22 billion francs in the same quarter last year and matched most analysts' expectations.

July 23rd, 2009 Credit Suisse reports 29 percent rise in Q2 profitZURICH — Swiss bank Credit Suisse Group on Thursday reported a 29 percent increase in second quarter net profit after a strong performance in its investment banking unit drove up core revenues. The net profit of 1.57 billion Swiss francs ($1.41 billion) compared with 1.22 billion francs in the same quarter last year and matched most analysts' expectations.

July 22nd, 2009 Whirlpool 2Q profit falls on lower consumer demandBENTON HARBOR, Mich. — Whirlpool, the world's largest maker of major home appliances, says its second-quarter profit fell 33 percent as consumer demand for its products significantly weakened.

July 16th, 2009 JPMorgan profit surges on investment banking gainsCHARLOTTE, N.C. — The banking industry has another winner.

June 30th, 2009 NEW DELHI - The banking sector, which hired 16,200 people in the first quarter this fiscal, remained the biggest job provider in the country during the period, an industry lobby survey said. The country's largest lender, State Bank of India, alone created 13,000 jobs, while Danalakshmi Bank and Andhra Bank recruited 1,300 and 900 people respectively, the survey by the Associated Chambers of Commerce and Industry (Assocham) said.

May 9th, 2009 Sara Lee's 3Q profit falls 22 percentDOWNERS GROVE, Ill. — Food maker Sara Lee says its fiscal third-quarter profit fell 22 percent as sales dropped on a consumer spending pullback and the stronger dollar.

May 8th, 2009 Unilever first-quarter net profit falls 45 percentAMSTERDAM — Unilever NV, the maker of consumer products such as Dove soaps and Ben & Jerry's ice cream, has reported a 45 percent fall in net profit for the first quarter, as sales dipped and restructuring costs increased. The company says net profit was euro731 million, down from euro1.34 billion.

March 31st, 2009 MUMBAI - Reserve Bank of India (RBI) Deputy Governor Rakesh Mohan has said that triad banking model - state-run, private and foreign banks - is working well in India. Mohan said that the growth of each sector has spurred healthy competition.

March 2nd, 2009 NEW DELHI - Daimler Chrysler, makers of luxury car Mercedez Benz, and one of its dealers here have been asked to pay Rs.500,000 by a consumer court for misleading a customer by selling a limited edition of a car under the garb of it being the latest model. 'It is apparent and crystal clear that the complainant had been sold by way of misrepresentation (of) a limited edition, which was never launched in the market,' the Delhi State Consumer Disputes Redressal Commission headed by Justice J.D.

January 15th, 2009 NEW YORK - Wall Street perked up Friday, as upbeat news from Bank of America and Citigroup boosted market sentiment. Concerns about the health of the banking system were eased, after Bank of America received a $138 billion government aid to avoid bankruptcy.