Yahoo! News India

  • Finance minister holds meeting with officials over rupee fall Reuters
    Finance minister holds meeting with officials over rupee fall

    NEW DELHI (Reuters) - Finance Minister P. Chidambaram held a meeting with his top civil servants on Thursday about the fall of the rupee, which has plunged to a record low level. The rupee has fallen to 59.9350 to the dollar, a day after the U.S. Federal Reserve indicated a tapering of its monetary stimulus, and data showed China's factory activity weakened to a nine-month low in June. (Reporting by Rajesh Kumar Singh and Manoj Kumar, editing by Anurag Kotoky)

  • CORRECTED - Q2 ThomsonReuters/INSEAD Asia Business Sentiment Survey - by economy Reuters

    (Corrects final paragraph to show Singapore's previous reading was 61, not 63) SYDNEY, June 19 (Reuters) - Optimism among Asia's top companies gathered momentum in the second quarter despite lingering concerns about the global economy and rising costs, the latest Thomson Reuters/INSEAD Asia Business Sentiment Survey published on Wednesday showed. ...

  • Raghuram Rajan says to brief press on rupee fall Reuters
    Raghuram Rajan says to brief press on rupee fall

    NEW DELHI (Reuters) - India's chief economic adviser Raghuram Rajan said he is likely to brief the media on the rupee's fall on Thursday, after the Indian currency slumped to a record-low level. Earlier, the rupee fell to a record low of 59.9350 to the dollar, a day after the U.S. Federal Reserve indicated a tapering of its monetary stimulus, and data showed China's factory activity weakened to a nine-month low in June. After Rajan's comments, the rupee trimmed losses to 59.66 to the dollar. (Reporting by Rajesh Kumar Singh and Manoj Kumar; editing by Matthias Williams)

  • Brazilians mock Pele appeal to end protests Reuters
    Brazilians mock Pele appeal to end protests

    SAO PAULO (Reuters) - Brazilian soccer great Pele has called on thousands of protestors demonstrating over poor quality public services and corruption to leave the streets and focus on football, an appeal that was quickly met with derision on social media. Brazil is currently hosting the Confederations Cup which began on Saturday, a tournament seen as a dry-run before it hosts the World Cup next year expected to draw an estimated 600,000 visitors to the country. ...

  • FIMMDA seeks RBI nod to relax trading band for day - sources Reuters

    MUMBAI (Reuters) - The country's fixed income association is waiting for central bank approval to raise the upper trading limits for government bonds for the day, sources with direct knowledge of the request said on Thursday. The request from the Fixed Income Money Market and Derivatives Association of India comes after dealers had told Reuters trading in the central bank's dealing platform was halted for Indian government bonds whose yields had risen by their upper circuits. The 10-year bond yield rose 10 basis points to 7.36 percent, triggering a halt in trading. ...

  • China jails 19 Uighurs for religious extremism Reuters

    BEIJING (Reuters) - Courts in China's far western region of Xinjiang have sentenced 19 ethnic Uighurs to up to six years in jail for promoting racial hatred and religious extremism online, in the latest crackdown on what China sees as violent separatists. All but one of those jailed were from the heavily Uighur southern part of Xinjiang, including eight from the old Silk Road city of Kashgar, the official Legal Daily reported on its website. ...

  • China June flash HSBC PMI hits nine-month low on weak demand Reuters
    China June flash HSBC PMI hits nine-month low on weak demand

    By Kevin Yao BEIJING (Reuters) - China's factory activity weakened to a nine-month low in June as demand faltered, a preliminary survey showed, heightening risks that a second quarter slowdown could be sharper than expected and raising the heat on the central bank to loosen policy. The flash HSBC Purchasing Managers' Index fell to 48.3 in June from May's final reading of 49.2, drifting further away from the 50-point level demarcating expansion from contraction. It was the weakest level since September. ...

  • U.S. celebrity chef explains use of racial epithet in deposition Reuters
    U.S. celebrity chef explains use of racial epithet in deposition

    REUTERS - U.S. celebrity chef Paula Deen, known for her high-calorie Southern cooking, admitted in a deposition that surfaced on Wednesday that she has used racial slurs but her attorney says she does not tolerate prejudice. A former employee of Paula Deen Enterprises, Lisa Jackson, is suing Deen and her brother Earl "Bubba" Hiers for racial and sexual discrimination in the work place, and the video-taped deposition was related to the suit. ...

  • Rupee slumps to record low; bonds, stocks slump Reuters
    Rupee slumps to record low; bonds, stocks slump

    MUMBAI (Reuters) - The rupee slumped to a record low on Thursday, while stocks and bonds were hit, after the Federal Reserve signalled a tapering of its monetary stimulus, highlighting the country's dependence on foreign capital inflows to fund its current account deficit. Market were also hit by data showing China's factory activity weakened to a nine-month low in June. The rupee fell to a record low of 59.9350 to the dollar, breaching past its all-time low of 58.98 on June 11. The rupee was trading at 59.82/81, down from its 58.71/72 close on Wednesday. ...

  • Virus sickens 200 at Yellowstone, Grand Teton parks Reuters
    Virus sickens 200 at Yellowstone, Grand Teton parks

    By Laura Zuckerman REUTERS - Two of America's premier national parks, Yellowstone and Grand Teton, warned visitors on Wednesday about a gastrointestinal illness that has sickened at least 200 people at the start of the summer tourist season. The rare health advisory, tied to a suspected outbreak of the highly contagious norovirus, comes in the early weeks of a season that drew about 6 million people to the parks last year. ...

  • Serena Williams apologizes for rape case remark Reuters
    Serena Williams apologizes for rape case remark

    REUTERS - Serena Williams has apologized for comments she made in a forthcoming interview in which she appeared to assign blame to the 16-year-old victim in the Steubenville, Ohio, rape case for being drunk. The comments were reported in an interview with Rolling Stone magazine and stirred up U.S. media attention on Wednesday. "What happened in Steubenville was a real shock for me. I was deeply saddened," the women's world number one said in a statement on her website. ...

  • Actor James Gandolfini, star of 'The Sopranos,' dies in Italy Reuters
    Actor James Gandolfini, star of 'The Sopranos,' dies in Italy

    By Piya Sinha-Roy and Steve Gorman LOS ANGELES (Reuters) - James Gandolfini, the burly actor best known for his Emmy-winning portrayal of a conflicted New Jersey mob boss in the groundbreaking cable TV series "The Sopranos," died on Wednesday vacationing in Italy. He was 51. Gandolfini, whose role as Tony Soprano made him a household name while transforming the HBO network and ushering in a new era of drama on American television, had been scheduled to attend the closing of the Taormina Film Festival in Sicily on Saturday. ...

  • Facebook has never been stronger since IPO, Sandberg says Reuters
    Facebook has never been stronger since IPO, Sandberg says

    By Alexei Oreskovic SAN FRANCISCO (Reuters) - A year after Facebook Inc's fumbled IPO, Wall Street remains slow to recognize what Chief Operating Officer Sheryl Sandberg argues has been an across-the-board improvement in its business. Facebook's ability to deliver ads to mobile phones, improvements in measuring the effectiveness of its ads and increasing user engagement have all put the world's largest social network in a better position than before the IPO, Sandberg told the Reuters Global Technology Summit on Wednesday. ...

  • New U.S. climate strategy coming within weeks - Obama adviser Reuters
    New U.S. climate strategy coming within weeks - Obama adviser

    By Valerie Volcovici WASHINGTON (Reuters) - President Barack Obama will target carbon emissions from power plants as part of a second-term climate change agenda expected to be rolled out in the next few weeks, his top energy and climate adviser said on Wednesday. Obama will take several steps to make tackling climate change a "second-term priority" that builds on first-term policies, said Heather Zichal, deputy assistant to the president for energy and climate change. ...

  • Sony pressed for response on spin-off plan at shareholder meet Reuters
    Sony pressed for response on spin-off plan at shareholder meet

    By Mari Saito TOKYO (Reuters) - Sony Corp shareholders pressed its chief executive on Thursday for a response to a proposal by hedge fund Third Point to spin off its profitable entertainment business, aiming to invigorate its struggling electronics business. Sony CEO Kazuo Hirai told an annual shareholders' meeting that the company would carefully consider the proposal by Daniel Loeb, the billionaire hedge fund manager of Third Point and Sony's top shareholder. "Our entertainment division will remain an important part of Sony's business," Hirai said. ...