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The sky's the limit
Branson: Richard Branson is making headlines on three continents. The serial entrepreneur is selling Virgin Mobile USA to partner Sprint-Nextel well below its IPO price. But his latest mediocre performance in the US isn’t stopping him elsewhere. Abu Dhabi is ponying up money for his loopy spaceship venture and his Aussie airline Virgin Blue is planning a rights issue. Branson"s record doesn"t give investors any certainty.

Novartis gains on plans of Alcon buy
Novartis has ended the day at Rs 572, stronger by Rs 14 or 2.6%, on the BSE.

News of the day

Infrastructure experience must for PPP project bids
Petroleum and natural gas companies without any experience in executing infrastructure projects will no longer be able to bid for projects under the public private partnership (PPP) model.
Corporate

Fiat India may consider price hike

Carmaker Fiat India Automobiles today said it will consider raising prices of its products as the margins are under pressure. - Tata Motors plans to launch smaller light commercial vehicle - Govt-industry partnership must for auto sector"s revival: Kant - Two new cars from BMW to meet sales target of 3,000 units - Honda Siel postpones completion of Rajasthan plant by 2 yrs - Mercedes-Benz sales may dip in 2009 - Honda Motorcycle to ramp up production to meet sales target "There are no margins left ... We may look at revising our prices upward," Fiat India Automobiles President Rajeev Kapoor told reporters on the sidelines of the SAIM annual convention here. The company expects sales to cross 27,000 units this year on the back of newly launched small car Grande Punto and sedan Linea. Kapoor also said the company would start exporting Linea to South Africa from September this year. Fiat India Automobiles — the 50:50 joint venture between Italy"s Fiat and Tata Motors, has recently arranged Rs 2,500 crore financing for completing the construction of its manufacturing facility at Chakan. Fiat had announced Rs 4,000 crore investment in India operations.


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