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August 13, 2011, 9:14 AM EDT By Pratik Parija and Anto Antony (Updates with chairman comment in third paragraph.) Aug. 13 (Bloomberg) — State Bank of India, the nation’s largest lender, said first-quarter profit fell 46 percent, a bigger slide than analysts expected, as it set aside more funds for bad loans in a slowing economy. Net income declined to 15.84 billion ru…

ustainable Communities Agency.The agency will then determine the future use of the land. The agency will also consult the National Asset Management Agency to determine the best use of all land banks controlled or owned by the State.In some cases, Nama may advise that lands originally bought by private developers could be combined with adjacent lands bought by councils for better returns.A spokesman for the department stressed that there was no lo…

…gisters 98.85, three basis points higher than Q2 2011; 31 basis points lower than a year ago at this time; and 73 basis points lower than its recessionary peak in Q2 2009. “When looking at the Auto Insurance Risk Index on a state-by-state basis, it appears that the level of auto insurance risk is transitioning toward a period of higher risk,” said Chet Wiermanski, TransUnion’s global chief scientist. “While a 0.03 percent increase in the index …

…lus-funded Solyndra solar company loan debacle is any indication, the answer is: not very well. And consider Obama’s naked partisan stunt on Thursday at the Brent Spence Bridge connecting GOP House Speaker John Boehner’s home state of Ohio and Senate Minority Leader Mitch McConnell’s home state of Kentucky. “There’s no reason for Republicans in Congress to stand in the way of more construction projects. There’s no reason to stand in the way of mo…

WASHINGTON (AP) — Consumers likely borrowed more in August with much of the increase coming from a rise in student loans.Borrowing increased by $8 billion in August, according to economists surveyed by Fact Set. The report will be released at 3 p.m. EDT Friday.In July, borrowing had risen by $12 billion, the biggest increase in more than three years. The strength that month was powered by pickup in auto sales which pushed auto loans higher. Ther…

Strike, maintenance shutdown hit Maruti; Hyundai bucks the trend The days of runaway growth in the auto market last year seem numbered, with two of the top three carmakers in the country — Maruti Suzuki and Tata Motors — reporting a drop in sales in June. Weighed down by a negative market sentiment because of rising fuel prices, higher borrowing costs and increased vehicle prices, the slowdown in sales last month confirms the trend of t…

…a review of the Energy Department’s loan programs in the face of growing criticism over a number of loans — including several auto-sector awards. White House Chief of Staff William Daley ordered an independent analysis on the state of the Department of Energy’s loan portfolio — including loans to solar, nuclear and auto companies. “The president is committed to investing in clean energy because he understands that the jobs developing and manufact…

…l not help the smaller, younger, and high-growth firms that have trouble getting credit in the first place,” he said. He called for more radical action from the government. “Over the medium-term, a brand-new, fully-fledged state-backed SME bank, which could eventually be returned to the private sector, should be created as a matter of urgency,” he said. “In addition, the Treasury and the Bank of England should find a way to back SME bonds or…