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David Reilly: Bank regulators need not meddle in accounting
Here’s one thing that leaders of the Group of 20 (G-20) nations don’t need to work on at their Pittsburgh meeting—accounting rules. There is no surer way to give investors short shrift, or lay the groundwork for future financial crises, than to politicise accounting. Nor do investors need bank regulators sticking their noses into this area. If regulators want to ensure that banks are better able to withstand losses, they have the power to do so on their own.

Ha, ha, ha...
The Comedy Store, a humour club in the UK, will launch its Mumbai edition later this year. Founder DON WARD talks to Neha Bhatt

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CIL's coal price hike may burden thermal power stations
The Coal India Limited"s (CIL"s) move of 11 per cent hike in the price of coal is likely to impose a heavy financial burden on some of the coal-based thermal power stations in the state, Gujarat State Electricity Company (GSECL), sources said.
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Nestle Q2 net up by 33% at Rs 162 crore

FMCG major Nestle today posted a 33.8 per cent increase in its net profit at Rs 162 crore in the quarter ended June 30, 2009, compared to the same period last year. - Volume growth returns for FMCG firms - ITC: Cigarettes steal the show - Emami Q1 net up 35% at Rs 15 cr - CavinKare eyeing expansion of food division - Corporate climb - Dabur finds its missing link The company recorded a net profit of Rs 121 crore in the comparable period last year, Nestle said in a statement. During the quarter under consideration, Nestle"s net sales increased by 16.8 per cent at Rs 1,209.5 crore compared with Rs 1,035.63 crore in the same period last year. "I am pleased with this continuing strong financial performance, enabling us to create economic prosperity even in these challenging times," Nestle India Chairman and Managing Director Martial Rolland said. Nestle also informed the Bombay Stock Exchange that the board of directors has approved the appointment of Antonio Helio Waszyk as Chairman and Managing Director of the company with effect from October 1, 2009. Waszyk would assume the charge after incumbent CMD Rolland relinquishes office on September 30, 2009, it added. Nestle"s net profit for the six-month period ending June 30, stood at Rs 359.32 crore, up by 27.7 per cent compared with the same period last year. The company had a net sales of Rs 2,475.3 crore in the six-month period, or up by 16.4 per cent over the corresponding period last year.


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