Persistent Systems IPO

Persistent Systems, the Pune-based software firm has revived its plans for an IPO, The Anand Deshpande is a founder and CMD of the company,it has been ranked as one of the fastest-growing companies on the Deloitte Technology Fast 500 Asia Pacific 2009 list. The ranking is based on percentage revenue growth over three years.The company had net profit of around...

The US government is preparing to sell its 27% stake in Citigroup

The US government is preparing to sell its 27% stake in Citigroup, in what would be one of the largest share sales in history. Some 7.7 billion shares in the bailed-out bank will be sold in tranches throughout 2010, the US Treasury said. It will mark another stage in Wall Street's recovery, and could make the US taxpayer $8bn (£5.3bn) in profit. Citigroup,...