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North American Financial Holdings Inc (NAFHI) has bought three US lenders. The group which is run by the head of former Bank of America Corp. investment-banking head Gene Taylor, is run on the funding generated by private investors.

North Carolina-based firm did so after the number of failed lenders in US increased to 96.

Out of the three takeovers, two were in Florida while one was from South Carolina, said the statement posted by the firm on the website of Federal Deposit Insurance Corporation.

After players like Bentley, Lamborghini, Buggati have already made inroads into the Indian market, it is now the turn of Ferrari to take the Indian route in order to make the sports luxury car brand more familiar to the Indian consumer.

It is believed that the Italian exotic supercar manufacturer will be banking on Tata Motors for the support in the marketing and distribution function.

Apart from the one-lakh lucky customers who will be getting the world's cheapest car at the price of Rs.

One lakh, as promised by Ratan Tata at the time of the launch of the product, the company has recently said that the other customers who have retained their bookings despite not being selected under the lucky one lakh lot will have to shed an additional 3-4% more to fulfil their dream of owning a Nano.

General Electrics has said that its net profit increased by 14 per cent during the second quarter of this fiscal. This happened despite revenues going well below the analyst expectations and also the stock market declining during the period in question.

Post the declaration, shares of GE were down by 4.59 per cent. Analysts said that it were the finance and health care segments which did best while the power and the aviation business still needed work.

Venture capital investors had put in $7.7 billion in US-based companies during the second quarter of 2010. This was shown by the data collected by Dow Jones VentureSource and says that there has been a significant increase in these investments.

The amount invested is the highest that has been invested in the US economy since 2008 when a total investment of $8.4 billion was done in as many as 699 deals.

Toy making company, Mattle said that it has posted lesser-than-expected profits for the second quarter.

It happened despite the fact that company was able to cut costs in a drastic way. A weak euro also played spoil-sports for Mattle despite it showing sales in the Hot Wheels segment.

Mattle had recently joined hands from the makers of Toy Story 3 and make the related merchandise. While this series did well in the market, currency fluctuations made it difficult for Mattle to post profit.