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LIC Hsg hopes reverse mortgage scheme to be beyond 20 yrs
With the new UPA Government expected to give a push to economic reforms, LIC Housing Finance Ltd (LICHFL) hopes the Centre would resolve some pending issues to enable it to launch long-awaited reverse mortgage scheme for senior citizens.

Suzlon receives 21 Mw order from Gujarat Alkalies
Suzlon Energy bagged a repeat order from Gujarat Alkalies & Chemicals (GACL) to set up, operate and maintain a 21 megawatt (Mw) wind energy project in Maliya Miyana in the Rajkot district, Gujarat. The project will comprise of 14 units of Suzlon"s S82-1.5 Mw wind turbines.

News of the day

Scarce lending by banks hitting tractor sales, complains sector
Deficient rains in the agrarian interiors and lack of finance availability from lending institutions, despite a mammoth relief package announced by the Centre last year, is slated to hit tractor sales, the industry says.
Public Company

Lloyds Banking Group to cut nearly 400 more jobs

British state-controlled bank Lloyds Banking Group (LBG) said today it will axe nearly 400 jobs at a call centre in the south of England. - Opel confirms slashing 9,500 jobs to fix European plants - Nokia to cut 220 R&D jobs in Japan - Lloyds to issue up to $13 bn of ECN securities - Strange but true - New York Times to cut 25 jobs next year - Lloyds says it will cut 5,000 jobs to reduce costs "Lloyds Banking Group has today announced that its contact centre in Brighton will close in May 2010 as part of the group"s integration process," LBG said in a statement, adding it will transfer work to other British sites. "This change will affect around 535 roles; of these 162 roles are being redeployed. Therefore, there will be a net reduction of approximately 373 jobs," it added. Britain"s government owns 43 per cent of Lloyds after bailing out the company in the wake of the global financial crisis. LBG, created in January when Lloyds TSB bought rival lender HBOS in a state-brokered deal, has now axed more than 15,000 jobs since the start of 2009, according to trade union Unite. Unite added on Monday that 410 jobs were being cut in Brighton, according to its calculations.


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