2. HDFC Bank raises fixed deposit rates by up to 50 basis points HDFC Bank has decided to increase its fixed deposit rates by up to 50 basis points across various maturities from Monday, a week after the bank raised lending rate, sources said. For fixed deposit of one year to one year and 15 days, the new rates would be higher by 50 basis points at 7 per cent while for 2-3 years it will be 7.25 per cent, 25 basis points more than the existing rate of 7 per cent, sources said. Term deposits for 30-45 days would fetch 4 per cent against existing 3.75 per cent. Interest rate on 91 days to less than 6 months will go up by 25 basis points at 5.5 per cent, sources said. Last week, the bank raised base rate or the minimum lending rate by 0.25 per cent to 7.50 per cent.
3. Mercedes recalls around 86,000 cars for removing steering problem Washington: October 10, 2010 – IR Summary/AP - Mercedes –Benz model 2010 and 2011, E-Class Coupe and Cabriolet models, are reported to have a steering problem which the company has noted and acknowledged with regret and decided to recall around 86000 cars to remove the problem free of cost. All cars may not be affected but whatever lot is facing this problem, the same shall be sorted out for which the Luxury Automaker may seek cooperation of the owners to get their cars checked. The luxury automaker apprehend that the steering systems in the cars "may fail due to the loss of power steering fluid."As per Mercedes-Benz, if that happens, drivers "may not have sufficient control of the vehicle increasing the risk of a vehicle crash." More
4. RBI hints at moves to curb volatile FII inflows Amid the rupee’s rising to two-year high last week, Reserve Bank on Sunday said it may intervene in the foreign exchange market if FII inflows are volatile. Foreign institutional investors (FII) have pumped a record USD 21 billion (Rs 96,000 crore) so far this year into Indian stock markets. Market regulator SEBI had last week exuded confidence that there would not be any reversal of foreign fund flows into equity markets as long as Indian economy is on a strong wicket. On sustained capital inflows, the rupee has been on a gaining spree for the past few trading sessions and had touched a 25-month high of 44.12 against a dollar last week. Robust inflows had also pushed up the benchmark Sensex of Bombay Stock Exchange to over 20,000 level.
5. Rise of Google Chrome threatens Internet Explorer, Mozilla Web browser Google Chrome, which emerged in mid-2008, has hit Internet Explorer hard and stalled the rise of Mozilla Firefox. Internet Explorer now accounts for less than 50 percent of worldwide web browser usage, a fall from its peak of 88 percent in 2003. The fall makes the latest version, Internet Explorer 9, all the more important for the company. The rise of Chrome has also affected Mozilla Firefox -- the second most popular desktop web browser -- which has stayed at 30 percent market share since May last yea Web browsers are big business. Mozilla has revealed that in 2008 it pulled in $79 million of revenue from advertisements that pop up when one uses the Google, Yahoo or eBay search box or download Google’s toolbar, the Telegraph reported
