4. IPL Kochi franchisee likely to be replaced by BCCI The investor group of the franchisee, which was bought for a staggering sum of Rs 1533.33 crore, had written to the BCCI informing them of their intention to withdraw from the IPL, two days before the expiry of the 30-day notice period (which ends today), issued to them by the Cricket Board to sort out their internal differences. The IPL Kochi team has sent a letter to BCCI President ShashankManohar withdrawing from the league
5. General Motors $23 bnIPO world's biggest The US automaker last week raised $20.1 billion in an IPO of common and preferred shares in the biggest US IPO ever. With this full overallotment, GM has now raised $23.1 billion, outpacing Agricultural Bank of China's $22.1 billion July IPO and making GM the biggest IPO globally. The full overallotment exercise reflects strong demand for the stakes in the company.
6. Silver drops further on hectic off-loading, gold also falls Silver ready (.999 fineness) slumped by Rs 350 per kg to end at Rs 42,005 from overnight closing level of Rs 42,355. Standard gold (99.5 per cent purity) moved down by Rs 40 per 10 grams to close at Rs 20,345 from Rs 20,385 yesterday. Pure gold (99.9 per cent purity) also fell by a similar margin to settle Rs 20,445 per ten grams as compared with Rs 20,485 previously.
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