Price-fixing probe hits airlines
Several international airlines have been raided by European Commission officials investigating price-fixing on flights between Europe and Japan. Germany's biggest airline Lufthansa confirmed that its offices in Frankfurt had been searched.
Sources at Alitalia quoted by Reuters said that the Italian flag-carrier had also been raided. Surprise searches happen at an early stage in investigations and do not imply any wrongdoing by the companies. It is not clear, how many other airlines are under suspicion. Lufthansa explained the motive behind the raid on its offices.
Mutual funds in purchasing mode
Mutual funds (MFs) bought shares worth a net Rs 336.30 crore on Monday, 10 March 2008, compared to their selling of Rs 51.50 crore on Friday, 7 March 2008. MFs' net inflow of Rs 336.30 crore on 10 March 2008 was a result of gross purchases of Rs 1355 crore and gross sales Rs 1018.70 crore. The 30-share BSE Sensex was down 51.80 points or 0.32% at 15,923.72 on that day. MFs were net sellers of shares worth Rs 599.60 crore in this month, till 10 March 2008.
Users offered ad tracking choice
Broadband provider TalkTalk has confirmed that it will allow customers to 'opt in' to Phorm's controversial new advertisement system. TalkTalk is one of three UK ISPs to sign up to the Webwise service which sees user's surfing habits tracked.
It has decided not to offer the service by default but rather to allow users to choose whether they want it. It follows 1,000 people signing a Downing Street online petition saying the system breaches customer privacy. It believes that there is a two-fold benefit for customers.
Soya touches upper circuit
Mumbai: Soyabean and rapeseed/mustard seed touched the upper circuit, while chilli closed near its four per cent lower circuit. Jeera declined 1.52 per cent to Rs 9,410 per quintal on weak spot markets. Pepper fell 1.36 per cent to Rs 14,733 per quintal on steady export demand. After the recent rally, turmeric was down 0.66 per cent to Rs 3,301 per quintal. Mustard seed was up 3 per cent to Rs 628 per quintal on concerns over production being hit due to recent rainfall in the growing areas. Kapas and sugar increased 2.18 per cent and 1.67 per cent to Rs 519 per 20 kg and Rs 1,519 per quintal. On MCX, mentha futures gained 4 per cent to Rs 454 per kg, while was fell 2.69 per cent at Rs 594 per quintal. MCX registered a turnover of Rs 7,905 up to 5 pm, while it was Rs 3,691 crore in NCDEX.
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