Ahead of quarterly earnings, Rumit Dugar, Analyst, IT, Telecom & Media, Religare Capital Markets, says wage hikes and currency appreciation may hurt Wipro's results.» Read More
GLOBAL MARKETS-Oil slumps on China, Europe worries; dollar gains. STOCKS TO WATCH-- IEV HOLDINGS LTD. -IEV Holdings said it would receive a 15 percent interim cash dividend from its associated company CNG Vietnam Joint Stock Company for this year, amounting to $1.5 million.
Oct 3- Applied Materials Inc said it would cut its workforce by 6 to 9 percent to reduce costs as it struggles with a slowdown in its chip manufacturing equipment business and troubles at its solar and display groups.
is putting pressure on Standard Chartered Plc t o appoint more independent directors, the Wall Street Journal reported, citing people familiar with the matter. Shares of Standard Chartered fell more than 3 percent on Sept. 25 on renewed speculation that Temasek may sell its 18 percent stake in the Asia- focused bank.
Oct 3- Diversified manufacturer 3 M Co on Wednesday terminated its $550 million deal to buy Avery-Dennison Corp's office and consumer products business. The proposed deal, announced in January, was to bring together two well-known consumer product families including 3 M's Post-It notes and Avery's HI-LITERS markers.
Oct 3- Applied Materials Inc said it would cut its workforce by between 6 percent and 9 percent to reduce costs as it struggles with a slowdown in its chip manufacturing equipment business and troubles at its solar and display groups.
Oct 3- Auto parts supplier Visteon Corp said its chief financial officer Martin Welch stepped down and will be replaced by chief accounting officer Michael Widgrenon on an interim basis.
Oct 3- 3 M Co said it terminated its deal to buy Avery-Dennison Corp's office and consumer products business. The U.S. Justice Department had in September threatened a lawsuit to block the $550 million deal over antitrust concerns. Keywords: 3 M AVERYDENNISON OFFER/.
Oct 3- Chip gear maker Applied Materials Inc. The company expects to record a pretax restructuring charge of between $180 million and $230 million. Applied Materials expects to substantially complete the restructuring plan by the end of the third quarter of fiscal 2013..
The asset management and investment firm hired vetran brokers E.H. Stanley Jr. and Geddings H. Crawford Jr, who previously worked at Morgan Stanley Wealth Management, the brokerage majority-owned by Morgan Stanley. The asset management business of Aviva Plc named Patrick Brien as chief executive of its Asia Pacific region.
Google was sued by Innovate/Protect Inc, which was acquired by Vringo. Vringo is seeking an award of at least $696 million from Google, financial website iStockAnalyst reported. In July, Vringo completed its merger with Innovate/Protect Inc- who had sued Google and AOL Inc, among others, for patent infringement.
WASHINGTON, Oct 3- The United States has taken steps to shut down several fake tech support scams that have cost consumers tens of millions of dollars, the Federal Trade Commission said on Wednesday.
LOWERING THE BAR: After years of rapid growth, Asia's developing economies now face much more modest prospects, the Asian Development Bank said Wednesday in a report that slashes growth forecasts for this year and next.
U.S. stocks advanced on Wednesday after stronger-than-expected employment and service-sector data in the United States. But a gloomier outlook in China and Europe weighed on commodity prices and hit energy and materials shares. **SAREPTA THERAPEUTICS INC, $41.60, up 177 pct.
Oct 3- Coatings and sealants maker RPM International Inc raised its profit and sales growth forecast for 2013 on recent acquisitions and growth expectations in North America. The company, which has manufacturing facilities in 20 countries outside the United States, acquired three companies during the first four months of the year, it said.
Oct 3- Alere Inc said it reached an agreement with U.S. health regulators on product specifications related to the manufacture of its diagnostic test for critical disease.
Oct 3- Network gear maker Adtran Inc said typical seasonality and a weak spending environment may lead to a decrease in fourth-quarter revenue. The company said it expects revenue for the period to fall by a "teens" percentage point from the third quarter. Adtran shares were down 6 percent at $16.10 on the Nasdaq on Wednesday.
NEW YORK, Oct 3- The leak in a truck loading propane at Hess Corp's 70,000 barrel per day refinery in Port Reading, New Jersey, has been stopped, and emergency responders are demobilizing, a company spokesman said on Wednesday. The leak developed at about 10:45 a.m. on Wednesday. Emergency responders worked to safely disperse the vapors.
U.S. stocks rose on Wednesday after stronger-than-expected employment and service-sector data in the United States, but a gloomier outlook in China and Europe weighed on commodity prices and hit energy and materials shares. **SAREPTA THERAPEUTICS INC, $40.65, up 171 pct. **HEWLETT-PACKARD CO, $15.67, down 8.4 pct.
*Co plans to meet with FDA around year-end or early next year. By Adithya Venkatesan and Balaji Sridharan. Oct 3- An experimental drug improved walking ability in boys suffering from a rare degenerative disease that causes progressive muscle loss, data from a new study showed, nearly tripling the market value of its developer Sarepta Therapeutics Inc.
By Neil Maidment LONDON, Oct 3- British outsourcing firm Capita. The trade union representing staff under Capita's existing contract said the coalition government is likely to award the deal to Tata Consultancy Services, part of India's salt-to-steel conglomerate Tata Group.