SBI slashing costs for consumers, shutting unprofitable business
India's largest lender, State Bank of India will be slashing costs for consumers and shutting unprofitable business as bank is trying to be more nimble-footed than private banks to sustain in the competitive market, said Mr. Pratip Chaudhuri, Chairman of SBI.
Sbarro Inc., operator of more than 1,000 pizza restaurants worldwide, sought Chapter 11 bankruptcy protection Monday after sales slowed and cheese costs rose, and said it has a plan to eliminate about $200 million in debt.