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In a bid to lower the cost of borrowing for households and industry and infuse additional liquidity worth Rs 40,000 crore, the Reserve bank on Saturday cut some key interest rates and reduced the minimum cash balance for commercial banks. - What's next for Nortel? More cost cuts won't be enough (The Globe and Mail)
Nortel Networks Corp. is almost out of options. A battered economy, a shrinking industry, fierce price competition from emerging Chinese rivals, a bloated balance sheet and weak product lineup have aligned to force the struggling company's hand.