By Dan Wilchins REUTERS - Over the past few years, Citigroup Inc has been grappling with an unusual problem - how to incur more U.S. taxes. The third-largest U.S. bank tried to buy the foundering Wachovia Corp in the fall of 2008 in part because the deal would have brought it more taxable domestic income, a person familiar with the matter said. ...
Yahoo! News India
- Nitish clarifies as BJP releases an old video of him praising Modi ANI
Reacting to the BJP releasing his 2003 speech in which he praised Gujarat Chief Minister Narendra Modi as a leader with a future outside the state, Bihar Chief … More »
- Take action against illegal miners: Industry to Goa government IANS
The Goa government has to act against those responsible for illegal mining, and it does not, at present, appear to be taking any action, a top industry official … More »
- Mandela's condition serious but improving: President Zuma IANS
Former South African president Nelson Mandela, who has been hospitalised for over a week, continues to get better in a Pretoria hospital, President Jacob Zuma said … More »
- Ball tampering allegations by Giles 'untrue' and 'disappointing': Anderson ANI
England fast bowler, James Anderson has called the allegations leveled against the team for ball tempering by its former captain Ashley Giles as 'untrue' and 'very … More »
- Brent hovers near ten-week high, Fed meeting in focus Reuters
By Luke Pachymuthu SINGAPORE (Reuters) - Brent crude futures were barely changed around $105, holding not far off their strongest level in 10 weeks, as investors remained cautious ahead of a U.S. Federal Reserve meeting. The Fed, whose two-day policy meeting starts on Tuesday, is under pressure to roll back some of the $85 billion in monthly bond purchases after advances in the U.S. economy. Its three quantitative-easing schemes have buoyed prices of commodities. At 0446 GMT, Brent was up 5 cents at $105.52 a barrel. It rose to 106. ...
- Nikkei eases in choppy trade before Fed; volume lowest since Dec Reuters
TOKYO (Reuters) - Japan's Nikkei average edged down in choppy trade but managed to end above 13,000 on Tuesday, with most investors on the sidelines awaiting the outcome of the U.S. Federal Reserve's meeting for clues on when it may begin tapering back stimulus. The Nikkei slipped 0.2 percent to 13,007.28 points after trading as high as 13,139.48 earlier. The broader Topix gained 0.2 percent to 1,086.40. Volume was light, with only 2.43 billion shares changing hands, the lowest since last December. (Reporting by Ayai Tomisawa; Editing by Kim Coghill)
- Asian shares ease as Fed meeting keeps markets on edge Reuters
By Chikako Mogi TOKYO (Reuters) - Asian shares eased on Tuesday as investors waited for Federal Reserve Chairman Ben Bernanke to clarify the U.S. central bank's plans for its stimulus programme - with the mere suggestion of fine-tuning it enough to unnerve market sentiment. European stocks are seen easing, with financial spreadbetters predicting London's FTSE 100, Paris's CAC-40 and Frankfurt's DAX will open down as much as 0.3 percent. U.S. stock futures traded almost flat, hinting at a subdued Wall Street start after a rise overnight. ...
- Gold futures seen falling; U.S. Fed, rupee eyed Reuters
MUMBAI (Reuters) - Gold futures in India are seen falling this week due to lower domestic demand with investors awaiting the outcome of a U.S. Federal Reserve meeting for directions. Investors are closely watching the Fed's two-day policy-setting meeting that begins later on Tuesday as a string of healthy U.S. data has increased speculations the bank could scale back its bond-buying programme, hurting gold's appeal as a hedge against inflation. ...
- Rupee trading below 58, not far from record low Reuters
Reuters Market Eye - The rupee is not far from its record low of 58.98 hit last week, trading at 58.45 versus 57.87/88 at Monday's local close. A large private corporate USD seller is capping gains for the pair, say several dealers. BSE Sensex down 0.23 percent. USD/INR NDFs surge overnight, closing NY trade at 58.56-58.59. The local currency may find some comfort from RBI's concerns about the impact of the falling rupee on imported inflation. The U.S. dollar hovered above a two-month low against the yen on Tuesday but uncertainty ahead of the outcome of the U.S. ...
- India eyes narrow political window for unpopular gas price hike Reuters
By Nidhi Verma NEW DELHI (Reuters) - The government could this week take the unpopular measure of raising gas prices for the first time in three years as it pushes a package of reforms aimed at giving industry a boost, reviving a spluttering economy and boosting LNG imports. With local and national elections looming in the next 12 months, the coalition government is expected to try to minimise voter backlash by hiking gas prices sooner rather than later. ...
- Road building revival offers rare hope for India infrastructure overhaul Reuters
By Matthias Williams and Swati Pandey NEW DELHI/MUMBAI (Reuters) - K. Ramchand, managing director at one of India's biggest road builders, is doing something unusual to help dispel the gloom pervading much of the country's infrastructure sector today: bidding for new projects. His company, IL&FS Transportation Networks Ltd , signed a $300 million contract in April to build a six-lane highway. The project will link an eastern industrial zone afflicted by some of India's worst traffic snarls to mining districts such as Dhanbad, the nation's coal capital. ...
- Sensex falls on caution ahead of Fed meet Reuters
Reuters Market Eye - The BSE Sensex falls 0.4 percent while the Nifty is 0.44 percent lower. Lenders fall, retreating from gains on Monday, ahead of the Fed's meeting ending on Wednesday as an early end to U.S. monetary stimulus is raising worries about a weaker rupee and hence a delay in any potential RBI rate cuts. The Reserve Bank of India kept interest rates unchanged on Monday, warning of upward risks to inflation as its currency is among the hardest hit amid a global emerging markets sell-off. ...
- Gold slips on weak physical demand; Fed meet eyed Reuters
By A. Ananthalakshmi SINGAPORE (Reuters) - Gold fell on Tuesday for a second straight session as muted physical demand weighed on prices, alongside fears of any cut in the U.S. Federal Reserve's $85 billion monthly bond purchases. Investors are closely watching the Fed's two-day policy meet that begins later on Tuesday as a string of healthy U.S. data has increased speculation the bank could scale back its bond buys, hurting gold's appeal as a hedge against inflation. ...
- Google settlement clears way for new Class C stock Reuters
By Tom Hals REUTERS - Google Inc has settled a shareholder class action lawsuit that clears the way for the company to issue a new class of nonvoting stock, giving the company a currency for acquisitions that would not dilute the founders' control. The online search engine leader had planned to issue Class C shares as a dividend to investors. A shareholder, the Brockton Retirement Board, sued and claimed the plan gave the founders, Sergey Brin and Larry Page, added control without paying for it. ...
- Charitable giving in U.S. grew in 2012, albeit modestly - report Reuters
By Susan Heavey WASHINGTON (Reuters) - Individual charitable giving in the United States grew almost 4 percent last year, while corporate donations rose at triple that rate, according to a report that shows donations by Americans to nonprofit groups mirroring the slow recovery of the larger economy. Overall, U.S. donations to bolster the arts, health, religion and other activities totaled $316.2 billion in 2012, a 3.5 percent increase from the $305.5 billion donated in 2011, according to the report, "Giving USA." That was just a 1.5 percent increase when adjusted for inflation. ...
- Obama says Bernanke has 'stayed a lot longer' than he wanted at Fed Reuters
By Steve Holland WASHINGTON (Reuters) - President Barack Obama hinted in an interview aired on Monday that he may be looking for a new chief of the U.S. Federal Reserve Bank, saying current Chairman Ben Bernanke has stayed a lot longer than he had originally planned. Obama, speaking to Charlie Rose, host of a PBS interview program, compared Bernanke to longtime FBI Director Robert Mueller, who agreed to stay two years longer than he had planned and is to leave in the coming months. "Well, I think Ben Bernanke's done an outstanding job. ...
- INSIGHT - FBI relies on secret U.S. surveillance law, records show Reuters
By John Shiffman, Kristina Cooke and Mark Hosenball WASHINGTON (Reuters) - The FBI has used secret evidence obtained under the Foreign Intelligence Surveillance Act to prosecute at least 27 accused terrorists since 2007, according to a Reuters review of public records. While the recent spotlight has been on the use of the FISA law by the U.S. National Security Agency for surveillance programs following disclosures by former NSA contractor Edward Snowden, the FBI also makes extensive use of the law for domestic counterterrorism. ...
- Batteries hold key to wearable device revolution Reuters
By Alexei Oreskovic and Gerry Shih SAN FRANCISCO (Reuters) - Longer-lasting batteries are crucial for a new crop of wearable computers whose rise may upend Apple and Google's dominance of mobile devices, two of the field's pioneers say. Wearable devices - from bracelets that monitor physical activity and sleeping patterns to clothing with built-in sensors and Web-ready glasses - may mark the next big technology shift, just as smartphones evolved from personal computers. That transition has put the unglamorous battery in a starring role. ...
- BJP accuses Akhilesh government of being communal IANS
Lucknow, June 18 (IANS) The Bharatiya Janata Party (BJP) Tuesday criticised the Akhilesh Yadav government and accused it of indulging in communal and appeasement politics.
- Impasse in Kerala assembly over cheating case IANS
Thiruvananthapuram, June 18 (IANS) The impasse in the Kerala Assembly continued for the fourth day Tuesday with the opposition demanding that Chief Minister Oommen Chandy order a probe and quit office over his staff's involvement in a cheating case. The house was adjourned for the day.
- Rishi Kapoor stuns Hollywood stunt directors IANS
New Delhi, June 18 (IANS) At 60, Rishi Kapoor left Hollywood action directors Tom Struthers and John Street of "Inception" and "The Dark Knight Rises" fame, stunned.
- We want to win hearts, says Tahiti coach IANS
Belo Horizonte (Brazil), June 18 (IANS) An emotional Tahiti coach Eddy Etaeta, after a 1-6 thrashing by Nigeria, said his team hoped to "win the hearts" of Brazilian fans during the Confederations Cup.
- `Crimes against women in Goa a perplexing problem' IANS
Panaji, June 18 (IANS) Goa Governor Bharat Vir Wanchoo Tuesday said he was "extremely concerned" over a spate of crimes against women and minor girls here and has asked the state government to find a solution to the "perplexing problem".
- Sensex trades flat in pre-noon session IANS
Mumbai, June 18 (IANS) A benchmark index of Indian equities markets was trading flat at 0.18 percent down during the pre-noon session Tuesday.
- Half-a-dozen hurt as BJP imposes Bihar shutdown IANS
Patna, June 18 (IANS) Nearly half-a-dozen people were injured here in a clash, several trains were stopped and roads were blocked Tuesday when the BJP began a state-wide shutdown to protest what it called a betrayal by the JD-U.
- Confederations Cup: Oduamadi hat-trick sinks Tahiti IANS
Belo Horizonte (Brazil), June 18 (IANS) Nnamdi Oduamadi scored a hat-trick as Nigeria crushed a spirited Tahiti 6-1 in their Confederations Cup football Group B clash here at the Mineirao stadium.
- US, Cuba to discuss renewal of direct mail service IANS
Washington, June 18 (IANS/EFE) The US and Cuba will discuss this week the possibility of re-establishing direct mail, suspended 50 years ago, a State Department spokesperson told EFE Monday.
- Learnt to embrace simplicity from SRK: Puvisha IANS
Chennai, June 18 (IANS) Tamil actress Puvisha M., who has worked with Shah Rukh Khan in the forthcoming Hindi film "Chennai Express", says she learnt the art of being humble and simple from King Khan, who despite being a superstar never behaves like one.
- US immigration chief to resign IANS
Washington, June 18 (IANS/EFE) The director of US Immigration and Customs Enforcement (ICE), John Morton, said Monday that he will leave his post next month to work in the private sector after four years at the head of the agency.
- Playing the bad guy has never lost me fans: Chetan Hansraj IANS
New Delhi, June 18 (IANS) Actor Chetan Hansraj is back to playing a bad boy on the small screen with "Jodha Akbar". He says his fans love watching him in negative roles. Moreover, "women love bad boys"!
- Jennifer Lopez signs up for film on Chilean miners IANS
Los Angeles, June 18 (IANS/EFE) Jennifer Lopez is the latest addition to the cast of "The 33", a film based on the story of survival of the miners trapped for more than two months below ground after a mine collapse in northern Chile, The Hollywood Reporter said Monday.
- Modi meets Advani IANS
New Delhi, June 18 (IANS) Gujarat Chief Minister Narendra Modi met senior BJP leader L.K. Advani here Tuesday, a week after the party patriarch quit following the former's elevation as the party's campaign committee chief.
- Watch out for 'more intimacy' in 'Dedh Ishqiya' IANS
Mumbai, June 18 (IANS) "Dedh Ishqiya", will go "much further" in intimacy than "Ishqiya". Actor Arshad Warsi is said to have some steamy lovemaking scenes with co-star Huma Qureshi, while even Madhuri Dixit has uninhibitedly shot for some cosy scenes with Naseeruddin Shah.
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