The auditors of India’s biggest carrier Jet Airways have issued a warning to the company to raise funds or generate cash flows in the future to meets its obligations, including financial support to its loss-making subsidiary JetLite.

In a report dated Nov. 11, Deloitte Haskins & Sells and Chaturvedi & Shah said raising money is crucial if Jet’s accounts have to be prepared on a “going concern basis” in the future.

From in.finance.yahoo.com:

In September, auditors of smaller rival Kingfisher Airlines had warned the carrier needed to infuse funds to continue as a “going concern”.

Jet, which enjoys nearly a quarter of the market share, swung to a net loss in September quarter, compared with a profit a year ago, hurt by rising fuel prices and a forex loss in the quarter.

“Jet is better relative to Kingfisher in terms of financial strength. I definitely think they will make a profit over the time and shore up their capital,” said an analyst with a local brokerage who requested anonymity.

The report was released to the stock exchange on Monday.

Tags: cash flows, Jet Airways, JetLite, Kingfisher, Kingfisher Airlines

Italy and Greece technocrat leaders rushing to form governments would be facing a critical test of their ability to limit the damage from the euro zone debt crisis when financial markets open in Europe on Monday.

The President of Italy asked former European Commissioner Mario Monti on Sunday to form a government for restoring market confidence in economy of the country.

Investors will pass initial judgment on his leadership when Italy’s Treasury asks investors on Monday to bid for up to 3 billion euros ($4.1 billion) in five-year government bonds. At an auction last week, the government’s borrowing costs surged above 6 percent and kept rising to levels well beyond what the country could afford to pay over the longer term.

In Asia, stocks and the euro rose on hopes that Monti and Greece’s new prime minister, Lucas Papademos, would take decisive action.

“Symbolically perhaps it’s (Berlusoni’s exit) a positive — it sends the message that it’s putting a certain chapter behind them but the fact remains is that this is difficult medicine to administer and it doesn’t really matter who gives the order, it’s going to be a difficult pill to swallow,” said Jack Ablin, chief investment officer at Harris Trust in Chicago, which oversees $50 billion.

Tags: borrowing costs, debt crisis, euro zone, market confidence

Nokia said sales of the Lumia 800, its first Windows Phone model, were off to an excellent start in Britain, dismissing analyst comments of weak sales start.

“Lumia 800 sales in the U.K. are off to an excellent start,” Nokia said in a statement.

From in.news.yahoo.com:

Nokia unveiled a strategy shift to use Microsoft software on its smartphones in February in a bid to create a rival to Apple and Google’s Android, and started to sell its first model last week in Britain, France and Germany.

“By our measures, we have gained significant smartphone sell-out share in the channels in which we are operating in the U.K.,” Nokia said.

“Based on earliest data the sales start of the Lumia 800 is the best ever first week of Nokia smartphone sales in the U.K. in recent history,” Nokia added.

Tags: Lumia 800, Microsoft software, Nokia, Nokia smartphone, smartphones

Policymakers in the United States were urged by President Barack Obama to “bite the bullet” and make the compromises needed for a deficit-reduction deal they need to reach this month for avoiding triggering automatic federal spending cuts.

It was time for the bipartisan, 12-member “super committee” to match up prudent spending curbs with tax increases and get to an agreement, according to Obama.

From news.yahoo.com:

“It feels as if people continue to try to stick with their rigid positions rather than solve the problem,” Obama said, also accusing lawmakers of “wanting to jigger the math” to avoid having to make politically unpopular decisions.

“My hope is that over the next several days the congressional leadership on the super committee will go ahead and bite the bullet and do what needs to be done.”

The special congressional committee is assigned the task of finding at least $1.2 trillion in federal budget savings over 10 years, but with a November 23 deadline looming, Republicans and Democrats on the panel have not yet sealed a deal.

“I really believe that all of the ingredients for a good resolution are there. We just need to build the will,” said House of Representatives Democrat James Clyburn, a member of the committee.

Tags: federal spending, leadership

On Tuesday, Bank of America Corp reversed course and scrapped plans to charge a monthly debit fee of $5, handing a victory to consumers and protesters angry with big banks.

The bank said the move was in response to customer feedback and competition.

From news.yahoo.com:

“It’s a sign of consumer power in action,” said Norma Garcia, manager of the financial services program for Consumers Union. “This is a sign of the marketplace working.”

Last week JPMorgan Chase & Co and Wells Fargo & Co decided to cancel test programs, while SunTrust Banks Inc and Regions Financial Corp said on Monday that they would end monthly charges and reimburse customers.

Banks began charging the fees to make up revenue lost to a law that slashes the fees they charge retailers when consumers swipe their cards.

“This is what the movement would consider a very, very small first step on rectifying an oppressive dynamic between the financial services industry and the 99 percent,” said Ed Needham, a spokesman for the Occupy Wall Street movement.

Tags: Bank of America, financial services, Wall Street

Asian shares inched up while the euro clung to overnight gains on Friday but markets largely stayed within range as investors are awaiting a weekend meeting of European leaders for signs of progress in resolving the region’s debt crisis.

Gold and copper rebounded from the sharp falls of Thursday.

From news.yahoo.com:

European leaders said they did not expect Sunday’s meeting to give an all-cure solution to the euro zone’s debt problems, with regional leaders still sharply divided over how to strengthen a euro zone rescue fund.

France and Germany said in a joint statement on Thursday that the leaders will discuss in detail a comprehensive solution to the euro zone crisis at the summit on Sunday but no decisions will be adopted before a second meeting to be held by Wednesday at the latest.

Paris and Berlin wanted negotiations to start immediately with the private sector for an agreement on the sustainability of Greece’s debt, according to the communique.

“Assets across the board are coming under pressure as it becomes clear that European banks, when faced with a stress test, will likely reduce their assets to strengthen their capital,” said Naohiro Niimura, a partner at research and consulting firm Market Risk Advisory Co.

Tags: debt crisis, euro zone

Apple Inc stunned Wall Street by reporting results that missed expectations for the first time in years. The company blamed rumors of the new iPhone for hurting demand in the September quarter.

Shares of Apple fell 7 percent in extended trading on Tuesday to wipe some $27 billion off the value of the world’s largest technology company.

From in.news.yahoo.com:

It was Apple’s first quarterly earnings under Chief Executive Tim Cook, who took over from Steve Jobs in August at a critical juncture for the company. Apple is battling Google Inc in the mobile arena, as well as other challengers such as Samsung and Amazon.com Inc.

“Investors are going to start to speculate that there is change under way now that Jobs is gone, and that there’s trouble ahead. We don’t share that point,” said Channing Smith, co-manager at Capital Advisors Growth Fund, which holds Apple shares.

“The iPhone is where the weakness was and it’s an explainable one. The strong demand for the iPhone 4S set up strong demand for the holiday season,” Smith added.

Tags: Apple, iPhone, technology company, Wall Street

Asian stock markets rose on Wednesday with investors emboldened by reports that France and Germany were moving closer toward resolving debt crisis of Europe through a massive expansion of the region’s bailout fund.

The dollar was lower against the euro and the yen, and oil prices hovered above $88 per barrel.

From in.news.yahoo.com:

Japan’s Nikkei 225 index rose 0.1 percent to 8,749.74 and Hong Kong’s Hang Seng was 1.3 percent higher at 18,302.83. South Korea’s Kospi was marginally lower at 1,837.74. Benchmarks in Singapore, Australia, India and Indonesia were higher. Those in Taiwan, Malaysia and Thailand fell.

The Guardian newspaper reported that France and Germany have agreed to expand the rescue fund for nations using the euro common currency to euros 2 trillion ($2.74 trillion). The paper cited unnamed European diplomats and said European officials are expected to take up the expansion along with a package of other measures at a meeting this weekend.

“Following recent volatility, it is unlikely that we will see quite as big a rally locally as our U.S. peers today. Particularly at the retail end of the market, investors will probably wait to see successive gains before rushing back into the market,” Stan Shamu of IG Markets in Melbourne said in a research note.

Tags: bailout fund, debt crisis, stock markets

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Tags: best power megaphone, best shop to buy mega phones, buy power megaphones, megaphones, power megaphone

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Tags: building business, internet presence, YouTube video