Home renovation supply retailer Rona has taken the hit due to the fading consumer interest as a result of recession. It will build less than half of its previously planned stores this year and is skeptical about its financial performance over this year which might be falling well short of its earnings objectives for 2009.

"Given the current financial, economic crisis, we will remain very, very prudent and selective with our development projects, focusing on the projects with the highest return on investment," said Chief Financial Officer Claude Guevin, in a conference with the analysts.

Noida based chemicals and drug maker Jubilant Organosys failed to witness good response to its buy back offer for all its outstanding foreign currency convertible bonds
(FCCBs) worth $241 million. The firm said, in a filing before Bombay Stock Exchange, that it would buy FCCBs worth $3 million due in 2010 with total cash of $2.55 million.

The firm received bids worth $48 million only for buy back shares via FCCB tender offer.

Leading commercial note book maker, HP India launched a new Elite Book Notebook PC series, targeting high class business professionals in corporate sector.

The notebooks, with 15 hour battery life, are provided with all day to day use facilities and designed to withstand instant temperature increase, vibrations and humidity problems, using cutting edge technology in its manufacturing process.

IT major Vishal

Public sector major National Aluminium Co Ltd seeks 15 per cent import duty on Aluminum coming from China in order to save the interest of domestic industry, facing tough situation under the impact of global slowdown and recession like conditions across the world. Government has also expressed concerns over increase in aluminium import in recent times from China.

NALCO's chairman, C. R. Pradhan, said, "They may fix it at 10 percent, 15 percent or they may fix it higher. A 10-15 percent duty at present scenario will protect the prices
(from falling)."

New York - A group of bondholders at the centre of General Motors Corp's struggle to survive have criticized the US carmaker's restructuring efforts, the Wall Street Journal reported Thursday.

GM faces pressure to strike a deal that would reduce its 27 billion dollars in debt by March 31, or risk losing 13.4 billion dollars in government loans.

The carmaker this week said it may need as much as 16.6 billion dollars more in emergency federal funds to survive a massive industrywide downturn since October.