Greek Referendum Threatens New Eurozone Crisis; Sensex Falls 224 Pts: Festive Season Fails To Bring Cheer To Car Sales

Tuesday, Nov 01, 2011 GREEK TO HOLD REFERENDUM ON BAILOUT PACKAGE   Greek Prime Minister George Papandreou has threatened the Eurozone with a new crisis with his shock announcement that he will hold a referendum on the last-minute bailout deal struck only last week to try to contain the bloc's debt mountain. Papandreou said he needed wider political backing for the fiscal measures and structural reforms demanded by international lenders. read more   LEAD STORIES SENSEX DOWN 224 PTS ON PROFIT-BOOKING, GLOBAL WORRIES   Markets fell due to profit booking and concerns over Europe debt crisis. Sensex closed at 17,480.83. Nifty closed at 5,257.95, down 68.65 points. read more BLACK MONEY: 782 OFFSHORE ACCOUNTS BEING PROBED   I-T dept is probing 782 Indian a/c holders, some of whom are suspected of holding black money worth over Rs 3,000 crores as deposits in HSBC Geneva. read more EXPENSIVE LOANS, FUEL HIT AUTO SALES   The festive season has failed to revive demand for new cars. Maruti was down 55%, M&M down 6% from last month, Tata Motors was up by a mere 5%. read more TOP STORIES • TRAI to abolish mobile termination charge by 2014   • Service tax hike on cards to plug revenue gap: CBEC   • TRAI eases cap on SMS to 200 a day   • U.S. stocks down in opening; dow skids over 200 pts   • Sept exports up 36% but slowdown continues   • Oct factory growth rebounds after a 30-mth low: HSBC   • Rupee sheds 46 paise, biggest fall in 2 weeks   • HPCL slips into red, posts Rs 3,364 cr loss   • Oil companies press for Rs 1.82/litre petrol hike   • ACC Q3 net up 85% at Rs 159 cr   • Fortis to buy Singapore arm for Rs 3,250 cr   • Bharti drags Tata Tele to tribunal on SMS fee dispute   • Air India issues statement denying pilots' strike   • Commexes turnover up 75% till Oct 15   • PMO, Cabinet Secy knew about 2G note: Pranab   • 2G: SC reserves order on corporate honchos' bail   • Maha govt to take action against Lavasa by Nov 3   • Will resume fast if Lokpal Bill is not passed: Hazare   • PM leaves for Cannes tomorrow to attend G20 Summit   • Pak cricketers Butt, Asif found guilty in spot-fixing test   more stories TOP VIDEOS The Only Taste I Like Is The Taste Of Victory. My Ultimate Goal Is To Win The Championship: Michael Schumacher, F1 Driver   Seeing Many Project Delays Increase, GDP Growth To Remain At 7%: Mahesh Vyas, MD and CEO, CMIE   Global Market May Give Back Some Of Oct Rally: John Woods, MD & Chief Investment Strategist, Citi Private Bank   AT A GLANCE BSE 17480.83 -224.18 NSE 5257.95 -68.65 TURNOVER Rs. 106,991 cr BSE CASH Rs. 2,206 cr NSE CASH Rs. 9,747 cr NSE F&O Rs. 95,038 cr BULLION GOLD 27320 +13 SILVER 55160 -1267 CRUDE NYMEX 90.34 -2.85 BRENT 106.87 -2.69 FOREX $ / Re 49.27 +0.58 £ / Re 78.609 +0.32 € / Re 67.319 -0.15 EVENTS 2 November Morningstar Investment Conference, The Lalit, Mumbai 3 November G20 Summit, Cannes, France Panel Discussion On 'Effective States, Inclusive Growth, And The Challenges Of Governing India', New Delhi India Pharma Inc.: Enhancing Value through Alliances and Partnerships, Mumbai 8 November Poor Economics: Understanding The Desires And Choices Of The Poor, Mumbai Samachar Marg, Fort, Mumbai EXPERT VIEWS I have decided that I will go on fast again, which I had ended because of your assurance. If the Jan Lokpal bill is not passed, I will go on fast again on the last day of the winter session. As five states go into elections, I would request all the countrymen to vote for the candidates with a good character and don't vote for the corrupt ones." Anna Hazare Anti-Corruption Crusader "It is difficult to predict what will happen to Greece if they reject it (bailout deal). It will be bad enough for the European Union and the Eurozone in particular, but it will be far worse for Greece. In the scenario of a 'no' vote Greece would declare bankruptcy immediately, they would default immediately. I can't see them staying within the euro." Christopher Pissarides Nobel Prize-Winning Economist "We estimate that for the next two years, the world economy would need 80 million jobs to bring the unemployment rate down to what it was before the crisis in 2007. Most of those new jobs would be created in the developing world, while just 2.5 million would be created in advanced economies. As a result, industrialised countries would be short of 24.7 million jobs during 2012 and 2013." Raymond Torres, Head of Research Institute, ILO WATCH OUT   What's Hot   In times where you are bombarded by news all day, accessing credible in-depth analysis of the most important news could turn into a daunting task. CNBC-TV18 brings you What's Hot, a show that analyses 3 stories that made the biggest impact during the day. Join Shereen Bhan as she discusses the days top 3 stories to give you views and analysis that keeps you ahead. SHOW TIMINGS Weeknights 8 pm