As the International Energy Agency announced the release of 60 million barrels of oil next month to shore up the economic recovery, J.P. Morgan and Goldman Sachs slashed forecasts for crude prices in the third quarter.
HP and 3Com Corporation (NASDAQ: COMS) (“3Com”) announced that they have entered into a definitive agreement under which HP will purchase 3Com, a leading provider of networking switching, routing and security solutions, at a price of $7.90 per share in cash or an enterprise value of approximately $2.7 billion.
The international economic crisis, climate change and food security were the issues on which the G8 leaders focused in the first day’s proceedings at the L’Aquila Summit. The Group of Eight (G8, and formerly the G6 or Group of Six) is a forum, created by France in 1975, for governments of eight nations of the northern hemisphere: Canada, France, Germany, Italy, Japan, Russia, the United Kingdom, and the United States; in addition, the European Union is represented within the G8, but cannot host or chair.
The U.S. Treasury proposal provides incentives for GM’s unsecured bondholders to support GM’s restructuring efforts in the event GM decides to pursue a 363 sale as part of a bankruptcy proceeding. Implementation of this proposal would result in a New GM with a healthy balance sheet, putting the new company on a clear path toward long-term viability and success.
The booking of the Tata Nano is open from April 9 and will continue up to the end of day on April 25, 2009. Tata Motors has entered into agreements with 18 preferred banks / NBFCs to enable prospective customers to get finance and facilitate booking of the car. The sale of application forms has already started from April 1, to a very encouraging response.