EMI, Time Warner call off merger
EMI and US media giant Time Warner have said that they had terminated their current merger agreement and withdrawn their merger application to reassess regulatory concerns, but reaffirmed their committment to the deal. An EC spokeswoman confirmed that EU Competition Commissioner Mario Monti's office had received formal notice that the 20 billion-dollar merger was off.

RBI auction
The Reserve Bank of India's auction of the 11.30 per cent 2010 for a notified amount of Rs 3,000 crore has sailed through. The central bank received 204 bids for Rs 7,087.22 crore and accepted 78 bids for Rs 3,000 crore.

Insurance JVs to file application
The insurance joint ventures between Tata-American Insurance Group for life and non-life are applying for the license with IRDA on Friday. Sources said the companies have formalised their joint venture on Thursday.

Birla Global moves HC
The Bombay High Court has reserved its order until October 10 on an appeal by Birla Global Finance Ltd, its chairman Kumarmangalam Birla and other top executives of the company, challenging a lower court's verdict of issuing the process against them in a case of alleged cheating. After hearing arguments from both the sides, Justice JA Patil reserved his order until October 10.

Infosys to consider interim dividend
Infosys may consider declaration of interim dividend at its board meet on October 10. In a notice to stock exchanges, the company said it would also consider the audited financial results as per Indian GAAP for the Q2 and half year ended September 30.The board will also consider the unaudited financial results as per US GAAP for the second quarter ended September 30.

Smooth Alto sales seen in Mumbai
Maruti Udyog expects a sale of nearly 1,600 Alto cars in Mumbai in the months to come. This sale would be nearly 40 per cent of the total 4,000 cars so far produced by the MUL.

Jindal Steel net up 68.7% to Rs 63cr
Jindal Strips, the largest producer of stainless steel in the country, has recorded a 68.7 per cent increase in net profit to Rs 63.01 crore for the fiscal ended March 2000.

GM, Ford hike prices
GM and Ford have hiked prices of their various models following increased transportation costs and falling rupee value even as Maruti and Hyundai are contemplating such an option.

DCA action against erring firms
The Department of Company Affairs is all set to initiate action against the companies which have not responded to the Company Law Settlement Scheme. DCA has also conferred powers on the Securities and Exchange Board of India to prosecute companies for various violations. DCA has issued a notification conferring the power on 12 Sebi officials to punish companies.