TopNews

Britain is facing a threatening risk of a worst Government deficit crisis this time. The government has borrowed another £4.3billion last month. Sources said that the circumstances are now even worse than the case of Greece or Spain.

This was all against the expectation of the economists for a repayment of £2.8billion last month. Now the Government has to reassure other countries that there will be no such crisis. The borrowing figures on record for The British government have posted to its worst in January.

Several UK companies are not going into administration. It has been recorded its lowest level in January. It shows that financial strength of businesses has started to improve.

According to a credit reference agency Experian, the statistics showed that compared to 11 in December and nine at the same point last year, the rate of insolvency last month fell to seven in every 10,000 businesses going under. It was the lowest rate of insolvencies recorded in the UK since June 2007.

India's state owned telecom player Bharat Sanchar Nigam Ltd. (BSNL) is targeting to add 22 million new subscribers to its mobile phone business, over the next financial year. Out of these 22 million new subscribers, 20 million is the target for the 2G customers and 2 million for the company's recently launched 3G services. For the records, BSNL at present offers 3G services in 318 cities and has 8.5 lakh 3G mobile customers in total.

A Los-Angeles based company Rubicon is aiming at winning favor with publishers for its new project. The project is an alternative to the DoubleClick ad platform. The company has $43 million in venture funding and has 160 employees. It has hired Allen & Co. with the firm intention of closing down on another big round of acquisitions and financing in order to expand its suite of ad tools for publishers.

Harbhajan Singh, popularly known as Bhajji, has always been known for his larger than life and outspoken attitude. After he got that Morkel wicket at his favourite ground Eden Gardens in Kolkota his dance suggested it all. The nail-biting finish at the Eden Gardens has given a new air to Bhajji's confidence.

New York City Mayor Michael Bloomberg is reportedly withdrawing his funds of $5 billion from Quadrangle Group, a private equity firm. According to the sources close to the matter Mr. Bloomberg is shifting this money into a new investment firm devoted solely to his interest and that of his charitable foundation.