CBI team leaves for US for Satyam probe

New Delhi: A CBI team has left for Mauritius and the United States to probe alleged diversion of funds by disgraced Satyam founder B Ramalinga Raju to these countries. Funds were re-routed back to India via European countries as “investments” in nearly 300 alleged fictitious companies floated in the name of his relatives, official sources said.

NELP non-bidding for technical reasons: BP

New Delhi: British giant BP Plc has said it did not bid for NELP-VIII purely on technical assessment of blocks on offer, an apparent rejection of theories that top energy firms did not bid for India¿s largest licensing round because of oil ministry policies. "This decision (not to bid in 8th round of New Exploration Licensing Policy) was taken purely on the basis of the technical assessment of the blocks (on offer)," BP Plc Managing Director Robert Dudley wrote to Petroleum Minister Murli Deora.

Lloyds to raise 23 bn pounds via equity

London: British banking major Lloyds is planning to raise 23 billion pound by way of debt and equity to bolster its balance sheet which is under pressure following acquisition of troubled mortgage lender HBOS, a media report says. The controversial 23 billion pound “fund raising, being finalised this weekend, will be one of the biggest seen in London,” the Sunday Times said.

India Inc sees high attrition in downturn

New Delhi: India Inc continues to see a double-digit attrition rate, this time of 13.8 per cent — the highest in Asia Pacific region — despite economic uncertainty, says a survey. As per global HR consultancy Hewitt Associates’ annual Asia Pacific Salary Increase survey for 2009-10, most Asian companies have continued to experience double-digit voluntary employee turnover rate amid the economic downturn.

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