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MUMBAI (Reuters) - The Bombay High Court has dismissed a petition filed by Britain's Vodafone against the country's tax department, saying the department does have jurisdiction over tax bills in cross-border mergers.

NEW DELHI (Reuters) - India's state-run lender Rural Electrification Corp (REC) is seeking central bank approval to raise foreign institutional investor (FII) stake in the company to 35 percent from 24 percent, REC's head of finance H.D. Khunteta said on Wednesday.

MUMBAI (Reuters) - Religare Capital Markets, the investment banking arm of financial services group Religare Enterprises , said on Wednesday it had appointed Jason Todd as global head of equity strategy.

MELBOURNE (Reuters) - Foster's Group Ltd, Australia's largest brewer, rejected a private equity offer worth up to $2.5 billion for its wine business as too cheap, sending its shares up as much as 6 percent on hopes of higher bids.

Oil fell for a third straight session on Wednesday, with the U.S. benchmark hit by weakness in equity markets.

WASHINGTON (Reuters) - Boeing is "actively" looking at potential acquisition opportunities in response to a changing security environment and will not rule out a merger with another large defense contractor, Boeing's head of defense said on Tuesday.

KOLKATA (Reuters) - Tata Steel, the world's No. 7 steelmaker, is in talks with banks to raise between $4.5 billion to $5.5 billion loan to refinance debt at its European unit Corus, its managing director said on Wednesday.

SINGAPORE (Reuters) - Asian stocks fell on Wednesday, led by shares in Japan's big exporters as a rise in the yen to a new 15-year high threatened to erode their overseas earnings.

* Supreme court of Israel rules in favour of Sun pharma

MUMBAI (Reuters) - Advice may be nice, but backing it up with balance sheet can be key to winning M&A business for investment banks in India.

MUMBAI (Reuters) - The Reserve Bank of India (RBI) has not set any timeframe for deregulation of deposit rates on savings bank accounts, Deputy Governor Usha Thorat said on Wednesday.

Hewlett-Packard Co sued former Chief Executive Mark Hurd and asked a court to block him from joining Oracle Corp, saying his hiring by the rival technology firm puts HP's trade secrets "in peril." Oracle, the world's third-largest software maker, named Hurd co-president and director on Monday, a month after he resigned from HP over expense account irregularities related to a female contractor.

For years the technology sector has been considered the most dynamic, promising and globally envied industry in the United States.

Moscow, Sep 8 (IANS/RIA Novosti) Russia has imposed restrictions on meat imports from seven plants in four countries, including Brazil and the US, starting Wednesday over safety concerns.

Toronto, Sep 8 (IANS) Subodh Kant Sahai, India's minister for food processing industries, has called upon Canadian companies to invest in the fast growing sector of the Indian economy.

Washington, Sep 8 (IANS) GE and PepsiCo in India are among 12 American companies selected as finalists for the Secretary of State's prestigious 2010 Award for Corporate Excellence (ACE).

Pretoria, Sep 8 (IANS) Services at hospitals and government offices in South Africa resumed as public sector employees, striking over pay hike for the past 20 days, returned to work Tuesday after an agreement to continue talks with the government.

Though interest rates are rising in the banking sector and the Reserve Bank of India has expressed its concern several times, concessional home loan rates — popularly known as teaser rates — are still in vogue.

KEC International, a leading power transmission engineering, procurement and construction major, has acquired US-based SAE Towers for $95 million (around Rs 445 crore) on a cash-free and debt-free basis.

The United Kingdom's Commercial Secretary to the Treasury Lord James Sassoon on Tuesday said 10 Indian banks had shown interest in opening branches in the UK. He, however, hoped in the same way that the UK allows Indian-owned subsidiaries the same freedom as UK banks to open branches, India would also move in a similar direction.