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MUMBAI (Reuters) - Shares in Wockhardt Ltd plummeted as much as 19.3 percent on Friday to their lowest since August 2012, continuing to reel for the second day, after the U.S. Food and Drug Administration imposed an "import alert" on a plant operated by the generic drugmaker. Wockhardt shares had already slumped by their daily limit of 20 percent on Thursday on the U.S. FDA action. An "import alert", effectively a ban, results in detention without physical examination of drugs from firms that have not met so-called good manufacturing practices, according to the FDA website. ...

MUMBAI (Reuters) - The BSE Sensex snapped a four-day losing streak to edge higher on Friday, rebounding as Tata Steel surged after its March-quarter operating profit beat analyst estimates and as recently beaten-down blue chips such as Larsen & Toubro recovered. Tata Steel Ltd rose 4.49 percent, while Larsen & Toubro Ltd ended 2.72 percent higher as a sell-off in the previous two sessions on earnings disappointment was seen as overdone. The BSE Sensex gained 0.15 percent, while the 50-share Nifty ended up 0.28 percent, after earlier marking their lowest level in almost three weeks. ...

By Yoshiyuki Osada OSAKA, Japan (Reuters) - Two elderly South Korean women forced to work in Japanese war-time military brothels cancelled a meeting on Friday with the mayor of the city of Osaka after he refused to withdraw remarks asserting the brothels were "necessary" at the time. The mayor of Osaka, Toru Hashimoto, an outspoken populist who has often stirred controversy, sparked a storm of criticism at home and abroad when he said last week that the military brothels had been needed, and Japan has been unfairly singled out for wartime practices common among other militaries. ...

REUTERS - Former Giro d'Italia winner Danilo Di Luca has been provisionally suspended after testing positive for the banned blood booster erythropoietin (EPO), the International Cycling Union (UCI) said on Friday. Italian Di Luca, who had a previous positive for the same banned substance in 2009, failed an out-of-competition test taken on April 29 at his home, five days before the start of this year's Giro. The 37-year-old Di Luca, who joined the Vini-Fantini team last month, won the Liege-Bastogne-Liege classic and the Giro in 2007. ...

MUMBAI (Reuters) - The Reserve Bank of India plans to allow exporters and importers to rebook and cancel up to 50 percent of their total hedged exposure from the present cap of 25 percent, Executive Director G. Padmanabhan said in a speech in Singapore on Friday. Padmanabhan did not explain why the RBI was contemplating taking this measure. In July RBI had allowed only exporters to cancel and rebook forward contracts up to 25 percent of hedged exposure. ...

DUBAI (Reuters) - Iran denied on Friday it had forces in Syria supporting President Bashar al-Assad's army, one day after foreign backers of his rebel foes demanded Tehran withdraw its fighters from Syrian territory. "The true enemies of Syria make up these accusations to provoke the people of this country," Foreign Ministry spokesman Abbas Araqchi said, quoted by Iranian state television. At a meeting in Jordan on Thursday, the Friends of Syria grouping of Western and Arab governments called for the immediate withdrawl from Syria of Iranian fighters and Lebanese Hezbollah guerrillas. ...

Reuters Market Eye - Shares in United Breweries Holdings Ltd jump 9.9 percent after CNBC-TV18 and ET Now reported the Karnataka High Court has allowed UBHL to sell its shares in group company United Spirits to Diageo Plc to complete the long-pending deal. UBHL is the holding company for a group of companies controlled by Vijay Mallya, including Kingfisher Airlines Ltd , and the sale of shares would help Mallya finalise the transfer of a controlling stake in United Spirits to Diageo. UBHL owned 15.7 percent stake in United Spirits as of the end March. ...

LEEDS (Reuters) - The start of the second and final test between England and New Zealand at Headingley was delayed by rain on Friday. Play was due to get underway at 1000 GMT but the covers remained across the pitch half an hour before the start with the umpires not due to inspect until the rain stopped. Dark clouds hovered over the ground on a chilly day with prolonged showers forecast. England won the first test by 170 runs at Lord's. (Reporting by Justin Palmer; Editing by John O'Brien)

LONDON (Reuters) - Dramatic video footage showing the moment when police shot the two men suspected of hacking to death a soldier in London was published on a British newspaper's website on Friday. The shaky, 10-second clip shows one of the men sprinting towards a police car with a knife in his hand before he is shot and tumbles to the ground. The second man appears to aim a gun at the police and is then shot. Soldier Lee Rigby, a 25-year-old who served in Afghanistan, was hacked to death near an army barracks in south London on Wednesday. ...

LONDON (Reuters) - English soccer champions Manchester United have trimmed 10 million pounds off the annual interest bill on their debt through a refinancing arranged by Bank of America. The move could free up more cash to help new team manager David Moyes to strengthen his team for next season after taking over from Alex Ferguson, who retired this month after leading United to 13 English league titles. The American Glazer family bought United for 790 million pounds in 2005 but burdened the club with heavy debts. ...

LONDON (Reuters) - A British Airways plane travelling from London to Oslo was forced to make an emergency landing at Heathrow on Friday after a technical fault in an engine. "The BA762, Heathrow to Oslo service, returned back to Heathrow shortly after take-off due to a technical fault," BA parent company IAG said. The Airbus A319 aircraft was carrying 75 passengers. "The aircraft landed safely and emergency slides were deployed and we are currently caring for our customers. Emergency services attended the aircraft," IAG added. ...

By Ayai Tomisawa TOKYO (Reuters) - The Nikkei share average rose in turbulent trade on Friday following the previous day's 7.3 percent dive, but the extreme volatility and worries that Japan's bull-run may be running out of steam sidelined many investors. The Nikkei rose 0.9 percent to end at 14,612.45 after dropping as much as 3.5 percent to 13,981.52 in the afternoon. In morning trade, it rose as high as 15,007.50, as investors picked up some beaten-down stocks after the market's largest one-day drop in two years on Thursday. For the week, it dropped 3. ...

NEW DELHI (Reuters) - India has made "tremendous progress" in reducing oil imports from Iran, a senior U.S. government official said on Friday, in a sign the South Asian nation is likely to get a third waiver from sanctions imposed by Washington against Tehran's nuclear programme. "All of the data is certainly pointing in a positive direction," U.S. Under Secretary for Political Affairs Wendy Sherman told reporters when asked about a possible waiver to India. U.S. ...

Tijuana (Mexico), May 24 (IANS) Second-half substitute Luan struck an injury-time equaliser to earn Atletico Mineiro a 2-2 draw against Tijuana in their Copa Libertadores quarterfinal first leg.

Los Angeles, May 24 (IANS) Socialite Khloe Kardashian says she wants a son when she and basketball player-husband Lamar Odom finally start a family.

Washington, May 24 (IANS) A number of vehicles and people fell into a river when a highway bridge collapsed in Washington state, officials said. But no death was reported.

New Delhi, May 24 (IANS) TV actor Ravi Dubey may not be so romantic as a person, but he doesn't miss a chance to praise his actress-girlfriend Sargun Mehta who, he feels, is notches higher in maturity compared to him.

New Delhi, May 24 (IANS) A 16-year-old 10th class girl student was raped by her neighbour here, police said Friday. The accused has been arrested.

Los Angeles, May 24 (IANS) Socialite Paris Hilton, who released her first album "Paris" in 2006, has secured another record deal for herself.

New Delhi, May 24 (IANS) India's status as an observer at the eight-nation Arctic Council will give it a chance to understand the ice cap's climate, which impacts the Indian monsoon, along with the possibility of exploring the mineral-rich North Pole and shorter shipping routes for future business, a senior official said.

Good luck to the UPA as it attempts to put a positive spin on its nine years in power. But let me insert here a word of caution about the manner in which its war on terror is causing the world's second largest Muslim population to be dangerously alienated from the state.

Rio de Janeiro, May 24 (IANS) Barcelona have reportedly made a final offer of 23 million euros to sign Brazil international striker Neymar during the European summer transfer window.

Shimla, May 24 (IANS) President Pranab Mukherjee Friday expressed concern over repeated disruptions in parliament and state legislatures.

Chennai, May 24 (IANS) Tamil Nadu Police have arrested two more cricket bookies, taking the total number held so far to nine, police said Friday.

New Delhi, May 24 (IANS) Socialite Paris Hilton wore Indian designer duo Falguni and Shane Peacock's creation at the amFar (The American Foundation for AIDS Research) Cinema Against AIDS Gala in Cannes.

Moscow, May 24 (IANS) Russia is expected to spend no more than $8 billion to fund the 2018 football World Cup, a steep fall from the previously estimated $16.6 billion, Deputy Prime Minister Igor Shuvalov said.