| NetWeb buys out WebPercept; to invest Rs 22 cr
New Delhi, April 10. (PTI): Software solutions provider NetWeb Solutions Ltd has acquired 51 per cent shareholding in its partner firm WebPercept for an undisclosed amount and would infuse Rs 22 crore ($5 million) to expand the business. "We have acquired the partner firm with an aim to broaden our horizon and would rechristen it as 'id8 Labs'. We would also invest around $5 million in the next 12-18 months to expand our franchise base," NetWeb founder Director Amit Tripathi told PTI. Tripathi, however, did not disclose the size of the deal but industry estimates put it at around Rs 4-5 crore. Before the acquisition, WebPercept was a Joint-Venture between Percept and Netweb in which Percept had 51 per cent shareholding, he said. Post acquisition, the company, with a capitalised billing of Rs 20 crore, would emerge as one of the top three players in Online and Digital Agency space in India after 'Mediaturf' and 'Interactive Avenue'.
How to Spot Great Stocks
If you want to be a wildly successful investor, you'll need to invest in wildly successful companies. (Or mutual funds, or apartment buildings, etc.) But zeroing in on the most promising companies is easier said than done. Here's a favorite method of mine: Build a list of wonderful companies, and then watch for their stocks to fall to compelling prices. To help you determine whether the company you're looking at is a first-class operation you'd be proud to have in your portfolio, here are five hallmarks of great companies: 1. Powerful brands Think of well-known brand names in the United States -- or better yet, around the world. General Electric (NYSE: GE) and Microsoft (Nasdaq: MSFT) place among the top 10 brands in the world, as ranked by Interbrand. This kind of popular recognition can give these companies a leg up in their industries.
Protect your identity at tax time
The chance of becoming a victim of identity theft is one of those things that gnaws at me sometimes, leaving me with a certain sense of vulnerability and helplessness when it comes to shielding myself from a determined ID thief. Tax time, when millions of people stuff envelopes loaded with personal data -- Social Security numbers for every family member, income statements and employer's tax ID numbers -- offers another round of chances to the name-robbing set. I searched for ideas to improve my own defense system and here's what I've come up with so far. When mailing in your return, be sure the personal documents and check aren't visible from the outside of the envelope, according to Frank Abagnale, a famed forger turned ID theft expert.
Common Cents: Living for the day
The first was for a 65-year-old lady whom I have known for many years. I was saddened by her death, but I knew she had lived a full life. She had married, raised a family and thoroughly enjoyed watching her grandchildren mature.The second was more difficult. More than a thousand people gathered to mourn the loss of a 35-year-old man. He was the father of four and was in the early stages of a wonderful life.He would not see his youngsters grow up. He would not have the chance to see his daughters marry or his sons play sports. The joys of grandchildren will be missed. There can be no explanation why such young people are taken. It makes no sense. Regrettably, it happens — and more often than anyone expects.My thoughts, however, turn to the survivors — especially the young mother who must now raise the children alone.
DWS Scudder Wins Two Lipper Fund Awards For Outstanding Three-Year ...
NEW YORK--(BUSINESS WIRE)--DWS Scudder, the U.S. retail business of Deutsche Bank's Asset Management division, received two Lipper Fund Awards for outstanding investment achievement at a ceremony in New York City last night. The DWS GNMA Fund's S share class was honored as the top performing GNMA fund share class among those of 60 funds in the category and the DWS Japan Equity Fund's S share class was the top performing Japanese fund share class among those of 38 funds in the category. The awards are based on the risk-adjusted return for the three-year period ended 12/31/06. The DWS GNMA Fund's S share class ranked 7th among those of 53 funds in the category over five years. To win a Lipper Fund Award, the funds had to have at least 36 months of performance history as of 12/31/06.
Investment Firm Gives No Confidence Slam to NYT Stock
The New York Times Co. has been taking a beating over their increasing steep decline in the company's share price, extravagant executive compensation and the dual roles of Class B shareholder Arthur Sulzberger Jr. who acts as both the Chairman and Publisher of the company. These factors have prompted influential wall street investment advisor Institutional Shareholder Services to advise Class A shareholders to withhold votes for 4 directors who are up for election this month. A virtual vote of no confidence by one of the most influential investment advisors in the business according to the Gawker Manhattan Media News and Gossip website. The Wall Street hostilities directed at West 43rd Street are heating up! Influential investment advisor firm Institutional Shareholder Services (better known by the slithery acronym ISS) issued a report yesterday advising that NYT Co.
Gossan options new magnesium production process
Gossan Resources Limited has entered into a memorandum of understanding to acquire up to a 100 percent exclusive interest in the worldwide rights to a new technology for the production of magnesium metal from dolomite. The memorandum of understanding defines the terms and conditions of a licensing arrangement for a new high-efficiency magnesium production process being developed by Douglas J. Zuliani. Gossan controls large deposits of high-grade dolomite and silica sand in Manitoba, Canada, both key raw materials used in magnesium metal production. Zuliani who holds a Ph.D. in metallurgical engineering from the University of Toronto, has more than 20 years of experience in magnesium technology and business development. From 1985 to 2000, he held a number of senior executive positions with Timminco Ltd., an internationally recognized leader in the production of high-purity magnesium using the Pidgeon silicothermic vacuum reduction process which recovers magnesium metal from briquettes containing ferrosilicon and calcined dolomite.
Fitch Rates WaMu Asset-Backed Certificates, WaMu Series $1.53B ...
Group I and II mortgage loans consists of first and second lien, adjustable-rate and fixed-rate residential mortgage loans. Group I mortgage loans have principal balances that conform to Fannie Mae and Freddie Mac loan limits. Group II mortgage loans have principal balances that may or may not conform to Fannie Mae and Freddie Mac loan limits. All groups consist of mortgage loans with original terms to maturity of not more than 40 years. The groups I and II 'AAA' rating on the senior certificates reflects the 18.95% credit enhancement provided by the 3.20% class M-1, 2.80% class M-2, 1.70% class M-3, 1.50% class M-4, 1.45% class M-5, 1.35% class M-6, 1.30% class M-7, 0.80% class M-8, 1.10% class M-9, as well as the 3.75% over-collateralization (OC). Additionally, all classes have the benefit of monthly excess cash flow to absorb losses.
Bill to resolve SMEs’ fund raising woes
This will encourage fund infusion by willing investors into SMEs as strategic equity partners in those enterprises, explained Mr Sircar. The Bill, which was piloted by Union ministry of company affairs, is awaiting approval from the Rajya Sabha. Ensuring limited liability of partners, the Bill paves the way for equity participation in SMEs by professionals, IT companies and venture capitalists. Though talks are doing the rounds on formation of a separate platform for trading in SME securities, the SSI ministry is yet to receive a formal proposal either from Sebi or NSE on the matter. Once a formal proposal is received, the matter will be placed before the National Board on SSIs, under the ministry, to discuss what enabling provisions are required for participation of SMEs in stock trading, said Mr Sircar.
TrustCo Bank Ranked Sixth Among 200 Industry Peers for Returns
GLENVILLE, N.Y.--(BUSINESS WIRE)--TrustCo Bank (Nasdaq: TRST) earned its place at number six among industry peers in the latest edition of US Banker magazine, a monthly magazine for financial institution executives, which ranked the top 200 mid-tier banks according to the institutions' 3-Year average returns on equity. "This is an honor that reinforces the strength of our employees' customer relationships and our financial products, which help people build wealth," said Robert J. McCormick, CEO and president of Glenville, N.Y.-based TrustCo Bank. According to US Banker, the top 32 banks boasted three-year average returns on equity of at least 17 percent. TrustCo Bank's three-year average return on equity was reported to be 23.66 percent. U.S.
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