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GE Appliances to walk out of Godrej venture

Yet another high-profile joint venture has fallen by the wayside. The six-year old marriage between Godrej & Boyce and GE Appliances of the US, part of the General Electric conglomerate, after having failed to meet any of its performance projections, is all set to be called off.

Tata Tea to plough in pound 75m into Tetley as equity

Tata Tea will be making a direct investment of 75 million pounds (Rs 470 crore) as equity contribution to buy out the entire equity held by Schroders and Prudential, the current owners of UK-based tea major Tetley. The leveraged buy-out deal is now expected to be concluded by October-end.

Rupee trips to a new low of 43.60

The rupee ended at a record low on Wednesday at 43.59/60 against the dollar after weakening in intra-day trades to 43.61on the back of month-end corporate demand for the greenback.

Fiat to pump in $280 million fresh funds

The Italian automotive giant Fiat has chalked up plans to pump in another $280 million into its Indian operations. The investment will fund a state-of-the-art welding shop in Kurla and its greenfield facility at Ranjangaon in Maharashtra.