World Business News

Manufacturing unexpectedly expanded in April at the fastest pace in 10 months, driven by gains in orders and production that signal the US remains a source of strength for the global economy.

The industrial performance for 2011-12 seemed to be ending on a sad note, as the crucial eight sectors grew a dismal two per cent in March, against 6.9 per cent in February, owing to contraction in crude oil and natural gas and slowing growth in electricity. The eight sectors, which have a weight of 38 per cent in the index of industrial production (IIP), grew 6.5 per cent in March 2011.

China's manufacturing activity has expanded for the fifth month in a row, easing concerns about a sharp slowdown in the world's second-largest economy.

In one of the largest consolidation moves in the Indian retail space, the Aditya Birla Group is buying a controlling stake in Kishore Biyani’s apparel retail and fashion stores.