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At the present moment it is expected that AB Foods shall be delivering a very good progress report for its earnings for the year since its Silver Spoon sugar venture and discount clothes chain Primark get into the sturdy recital in the third quarter.

During the 16 weeks to 19 June the revenues of the group toll by 13%, abet by a 44% gush in sugar revenues and a 15% inclination at its retail business.

Moreover it is moving upward by 14% for the first 40 weeks of the financial year.

The US government has asked the oil giant BP to inform about any merger deals or any major asset sales to the government in advance as the US government continues to have a close look at the firm BP.

This unusual request came from the Department of Justice of US in the month of June.

However, according to the sources, BP has not responded to this letter yet.

The oil giant BP has been extremely criticized by the US government over handling the clean up process of the oil spill in the Gulf of Mexico which began in the month of April.

The German carmaker Volkswagen has unveiled its all new sedan Vento. This vehicle is to be launched later half of this year. It has been specially designed and manufactured in India only. The Vento will be available in both petrol and diesel versions and will have a 1.6 litre engine.

India has become a strategically grown up market for the Volkswagen Group. The Volkswagen Group has informed that it is aiming to attain 8-10% of the market share in near future. It is also anticipating that it may able to double their sales this year.

The leading space contractor of US, NASA is to cut more than 1000 jobs of the leading scientists and technicians of the world. This will be done when NASA will complete its entire space shuttle programme.

The United Space Alliance, which is responsible for the management of shuttle fleet and also handles the International Space Station of NASA, said most of the jobs would be cut in Texas and Florida.

The rise of 11% in the new car registration in the month of June has marked the consecutive monthly increase in car sales for the 12th month despite of the end of the car scrappage scheme from the government. But the market experts have said that the sales would be decrease at the end of this year.

Registration of new cars has risen by 10.8% in the month of June. It has pushed the number of orders for the car making companies. This rise has increased the new car registration by 19.9% or 180,000 vehicles in the first half of this year as well.

PJSC, a Dubai-based investment house has sold off 2.21 crore shares, representing 6.89% stake to SpiceJet at Rs 53.55 per share, amounting to a total of Rs 118.54 crore on Tuesday. This information has been found out according to the data available on the Bombay Stock Exchange.

In February, nearly 14% of the stake had been offloaded by Istithmar to the airline for Rs 164 crore. The company has informed on Monday that it had got hold of almost 22.14 million shares through foreign convertible currency bonds valuing nearly Rs 55.34 crore.