Finance Minister P. Chidambaram: No repeat of forced migration

* J.C. Penney Co Inc and hedge fund Pershing Square’s Bill Ackman are in talks to resolve their dispute over the leadership of the U.S. retailer, a source familiar with the situation said on Monday. * Chinese technology giant Tencent Holdings Ltd is planning to list its popular messaging app Weixin, or WeChat, as a spin-off company in Singapore, the official China Daily reported on Tuesday, citing an unnamed source.

Muthoot Finance files draft paper with Sebi to raise Rs 300 cr

Indian rupee opened higher at 60.48 a dollar from previous close of 60.88. (AP)

Chidambaram, who represented the indisposed home minister Sushil Kumar Shinde, admitted that two Muslims and one Hindu were killed in the weekend violence. Violence…was the result of argument between two people, which led to the clashes between two groups, Chidambaram said. Chidambaram, who headed the home ministry until July last year, when he was shifted to the finance ministry to tackle the pressing economic issues facing the nation, assured that the federal government would not allow repetition of 1990 when the Hindu community was forced to leave the Kashmir Valley following communal tension in the border state. We will not allow repetition of 1990. We will not allow forced migration.

“Public issue by our company of NCDs aggregating up to Rs 1,500 million with an option to retain over-subscription up to Rs 1,500 million for issuance of additional NCDs aggregating to a total of up to Rs 3,000 million,” it added. Funds raised through this issue would be used for financing activities, including lending and investments, besides utilising them to repay existing loans, capital expenditure plans and to meet working capital requirements, the company said. ICICI Securities is the lead managers to the issue, while Link Intime India is registrar to the issue. Muthoot Finance, is one of the largest gold financing company in India, with a market share of over 20 per cent as of March 31, 2012.

Foundation Finance Company Expands Consumer Financing Programs to Include Superprime Pricing Tier

Dealers now have access to reduced interest rates and promotional fees that meet or beat those types of programs for their best customers, plus full access to the B, C and D credit programs that can help them close more sales. Dealers can now focus on what they do best selling rather than on shopping multiple finance companies, continues McCullion. They can still get the best pricing on their best customers, but they also now have a one-stop program to give them access to additional approvals for near-prime and subprime customers as well, which adds to their bottom line. About Foundation Finance Company Foundation Finance Company is a sales finance company specializing in unsecured home improvement financing programs for sales under $25,000. FFCs products include revolving lines of credit, installment loans, same-as-cash and deferred payment plans and full-service credit approvals for superprime, prime, near-prime and subprime credit profiles.

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