BPL Telecom group to list one company at Nasdaq
Mumbai: The Nasdaq fever is not over yet. One more Indian corporate entity has announced plans to list a group company on this premier global exchange. The BPL group’s telecom unit – which comprises of companies, BPL Innovision, BPL Cellular Holdings and BPL Broadband Networks – has announced that one of these three companies would shortly be listed on the Nasdaq.

Making this announcement, Mr. Rajiv Chandrasekhar, chairman of the BPL Telecom group, said that the group had already raised over $400 million for its wireless business and plans to invest an additional $175 m in the convergence business. The group is also putting into place five international gateways for expanding bandwidth and has plans to lay an estimated 6,000 kms of optical fibre cables for Internet and data traffic.
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Warren Tea to diversify into hotels
Calcutta: The Vinay Goenka controlled, Warren Tea-Darjeeling Plantation Industries, made its foray into the hospitality sector with its acquisition of the three-star property at Jaipur at an estimated cost of Rs. 8.5 crore. 

The acquisition has been made through Maple Hotels & Resorts Pvt Ltd, a group company, which has acquired the entire equity of Arts & Crafts Pvt Ltd, a Jaipur-based company, which owned and operated Hotel Maurya Palace in Jaipur. Maple Hotels has earmarked Rs. 1 crore for upgradation and introduction of new facilities in the hotel. Plans have been drawn up to strengthen the operating systems and market the property aggressively.
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Ford likely to shut down UK plan
London: While the unions dismiss the reports, an already battered automobile industry in the UK, might see yet another closure that threatens to displace more than 3,000 workers.

Coming close on the heels of BMW’s sale of the loss making Rover car company, Ford Motor Company, the world’s second largest car company, is all set to announce the closure of the car production unit at Dagenham. It is expected that the announcement of the closure will be made in mid-May as part of the overall restructuring exercise the American company is going through for its European operations. Intense price competition, the strengthening of the pound and surplus capacity at the Dagenham plant, has all added to the woes of Ford in the UK market.
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Now, it is Microsoft versus its Insurance company
Seattle: To add to its already cupful of woes, the world’s biggest software company, Microsoft Corporation, now faces a lawsuit from its insurance company, Zurich American Insurance.

The insurance company with which Microsoft has an insurance policy for all types of risks, including class action suits, claims that it is not liable to reimburse the software giant any costs or claims against it arising from the anti-trust suits filed against it.

Both Microsoft and Zurich American have filed suits against each other in the US Federal courts in this regard.
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