BlackBerry makers have brought out a new smartphone featuring a touchscreen and slideout keyboard, which it anticipates will ward off rivalry from Apple's iPhone.

The new smartphone will hit the US market on Aug 12.

Priced at $199.99 along with a two-year agreement with AT&T, the new new BlackBerry Torch was launched in New York on Tuesday.

Google has registered an increase of 24%in its second quarter profit, which stood at $1.84 billion on account of an overall revival in demand for online advertising.

Google had made a profit of $1.48 billion during the three month period ended June 2009.

US headquartered Caterpillar India disclosed that it has clinched a Memorandum of Understanding with Tamil Nadu Government to commence a heavy engineering equipment manufacturing plant near the city with an investment of Rs 800 crore.

Under the pact, the conglomerate would make heavy engineering equipment used in construction and mining industry.

General Motors, the largest US automaker, has announced that it intends to trim down 31,500 more jobs in the US, as it confronts a severe slump that has it begging Congress for a $ 18-billion bailout.

According to the sources, the conglomerate planned to cut down its total US employment from the present level of 96,537 people to between 65,000 and 75,000 salaried and unionised workers by fiscal 2012.

Tulip Telecom has announced that it is planning to buy an IT-managed services conglomerate in the US.

According to the sources, the conglomerate has reserved Rs 200 crore for the acquisition.

The company officials revealed that they are eyeing at the inorganic route for growing in the coming fiscals. As part of this, they have framed proposals to purchase managed services firm in the US.

Shares of the company closed down Rs 8.2, or 1.94%, at Rs 415. The total volume of shares traded at the BSE was 3,622 (Friday).

Crompton Greaves, a leading Indian power solutions provider, has announced that it envisages to purchase manufacturers of power and industrial systems in US and Europe.

According to the company officials, Crompton, as a zero debt conglomerate, will not face any problem in funding the acquisitions.

The sources said that the conglomerate for the last three fiscals is on acquisition spree after acquiring a Belgium-based transformer manufacturer Pauwels in 2005.

India’s leading drug firm Sun Pharmaceutical Industries Ltd has announced that it’s wholly owned US arm has bought 100 percent ownership of Chattem Chemicals, Inc. (Chattem) from Elcat, Inc, the domestic drug firm.

The conglomerate did not reveal the financial transaction of the acquisition.

According to the sources, US based Chattem is a leading narcotic raw material importer and producer.