Chase buys JP Morgan for $ 36 bn
Chase Manhattan Corp, a banking giant formed from mergers of three New York banks, has agreed to acquire venerable JP Morgan & Co for about $36 billion in stock, a deal that would bring together two of the oldest names in US finance.



IOB to float IPO despite higher NPAs, lower profits
A public sector bank which has reported higher sticky assets and lower profits 1999-2000 is coming out with an initial public offering. IOB which has run up non-performing assets of Rs 1,623 crore has planned to hit the capital market with an IPO of 11.12 crore equity shares to raise Rs 111.20 crore.



Sensex reacts by 61 pts
Stocks beat a hasty retreat pushing the benchmark Sensex down by about 61 points on the BSE on Wednesday in the wake of bull liquidation as well as profit booking by foreign institutional investors (FIIs) and financial institutions (FIs).



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MUL discontinues Maruti 1000, Gypsy models
Govt clears Rs 150 cr pharma R&D fund
RPL plans maiden dividend, seeks nod for marketing