| Sensex rises 864 points after US Fed rate cut
Mumbai, Jan 23 Stock market benchmark Sensex ended a seven-day losing streak today, gaining 864 points after the US Federal Reserve cut interest rates in an emergency move to prevent the world's biggest economy from slipping into a recession.
The 3-share index rose 864.13 points to 17,594.07, led by index-heaviest Reliance Industries Ltd, which rose by Rs 196.80 to settle at Rs 2,554.85. The Sensex rose to a high of 17,997.11 and fell to a low of 16,951.03 points in volatile intra-day trading.
The wide-based National Stock Exchange index Nifty surged by 404.10 points at 5203.40, after touching the day's high of 5328.05 and a low of 4891.60 points.
The US central bank cut short-term benchmark rate by a steep 75 basis points yesterday, in a surprise move that is aimed at checking the nation's economy from slowing down and soothing the investor community.
Diageo's Progressive Adult Beverage Portfolio Expands With New Product ...
NORWALK, Conn., Jan. 10 /PRNewswire-FirstCall/ -- Diageo, the world's leading premium drinks business, announced today the introduction of three products to its fast-growing Progressive Adult Beverages (PAB) category: Smirnoff Ice Light, Smirnoff Ice Strawberry Acai (ah-SAH-ee), and Captain Morgan Parrot Bay Mojito. "Consumer tastes dictate the need for new flavor options and low-calorie offerings," said Mark Breene, Vice President, Diageo Progressive Adult Beverages. "The addition of these three products to Diageo's PAB lineup will solidify our position as the industry's category leader." When enjoying these new products, and all its products, Diageo reminds its adult consumers to drink responsibly. As the world's largest spirits, wine and beer company, Diageo is committed to social responsibility and the responsible marketing of its brands.
MiddleBrook closes $21M stock offering
GERMANTOWN, Md. - MiddleBrook Pharmaceuticals Inc. said Wednesday it closed a private offering of common stock for $21 million in gross proceeds. On Friday, the company said it would offer about 8.8 million shares at $2.40 apiece, representing a 20 percent discount to Thursday's closing price of $2.99. The company said it would use the proceeds to support the production of its antibiotic Moxatag and for general corporate purposes. Moxatag, which treats strep throat in adults and children years and older, was approved by the Food and Drug Administration Thursday. Shares of MiddleBrook fell 5 cents to $3 in afternoon trading. .
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