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Hindustan Media Ventures' (HMV) initial public offer (IPO) received good response on the bourses. The Rs. 270 issue managed to attract good review by the investors on the last day of its subscription/

The IPO was subscribed 5.23 times showed the data collected by NSE. The value of the highest bid was Rs. 162-166 per share while the company had provided a price band of Rs. 162-175 for every share.

It was subscribed one per cent during the last days and was not taken well at that time.

The Financial Services Authority has posted a fine on the three partners of the Sheffield mortgage broker Pace Financial Management with a collective fine of £50,000 for being unsuccessful to avert one of its own staff members from perpetrate fraud.

As per the regulator, the partners Paul Armitage, Huw Evans and Brian Smith declined to guarantee apposite coordination and controls that were in place to prevent financial offense, thus the regulatory body has imbibed a fine upon Armitage and Evans amounting £17,500 each and Smith £14,000.

Eighth largest steel maker in the world, Tata Steel has seen a drop in the sales of the company in India.

To be precise the sales remained flat at 1.4 million tons during the first quarter ending June 2010. What is hurting the economy more is the fact that the domestic demand, which invariably remains high, failed to gain anything for the firm.

Weak market sentiments the world over also created trouble for the steel maker. Most importantly, the sale of long and flat products was hurt. The saving grace, however, was the auto industry that saw an increase of 20 per cent.

Oil prices in Asia fell below $72. Concerns are that global economic growth may slow down in the second half thereby dragging the demand for crude down along with it.

To worsen matters, the U. S. markets were closed on Monday due to the Fourth of July holiday.

There has been a decline of 35 cents in crude benchmark for the delivery. It has come down to $71.79 a barrel at midday, Singapore time on the New York Mercantile Exchange. However, the contract was settled later.

Investors are worrying that there might be a double-dip recession in Europe and the U. S. later this year.

On Wednesday the

Approximately a decade ago, Ocado, who had dispensed Waitrose groceries, started up with the two digital phone switches on the low cost rate that tumbled down from the former Scottish technology dear, Atlantic Telecom.

The switches however, have been significant to Ocado's online grocery venture for steering the calls and orders, and assist as a souvenir that a downfall or failure of one's business is the success story and up gradation path for the other company.