Yahoo! News India

By Bill Rigby and Malathi Nayak REDMOND, Washington (Reuters) - Microsoft Corp gave the world a first look at its new Xbox One on Tuesday, announcing that its first gaming console in eight years will come with exclusive video and software content, including a "Halo" series produced by Steven Spielberg. The Xbox One, which will be available later this year at a price to be announced, will also be the first platform to release the next installment in Activision Blizzard Inc's blockbuster shooter franchise, "Call of Duty". ...

WASHINGTON (Reuters) - A Senate panel voted on Tuesday to make it easier for U.S. companies to hire foreign workers as part of a broad immigration bill being debated in Congress. The Senate Judiciary Committee voted for the amendment, which would loosen requirements that employers recruit Americans ahead of foreigners for high-tech jobs. The compromise was brokered by Democratic Senator Charles Schumer to win over Senator Orrin Hatch, a Republican whose support is seen as important to bring other conservatives on board with broader immigration reform. ...

LOS ANGELES (Reuters) - Oscar winner Ang Lee canceled his plans to direct the pilot of new U.S. television series "Tyrant," saying on Tuesday that he needed to rest after spending four years working on 3D fantasy-adventure film "Life of Pi." Lee, 58, signed on to direct the pilot of the drama series for cable network FX in March, shortly after winning the Best Director Oscar for "Life of Pi." "It is one of the most brilliant ideas for a series that I've seen and one about which I was very excited," Lee said in a statement. ...

By Patrick Temple-West and Kevin Drawbaugh WASHINGTON (Reuters) - Apple Inc Chief Executive Tim Cook made no apology on Tuesday for the iPad maker saving billions of dollars in U.S. taxes through Irish subsidiaries and told lawmakers that his company backs corporate tax reform, even though it may end up paying more. The Senate Permanent Subcommittee on Investigations has found that Apple in 2012 alone avoided paying $9 billion in U.S. taxes, using a strategy involving three offshore units with no discernible tax home, or "residence. ...

By Frank Jack Daniel and Rajesh Kumar Singh NEW DELHI (Reuters) - Chinese Premier Li Keqiang, smiling and effusive, was out to smooth ruffled feathers in India this week, promising to ease tensions and increase trade between Asia's fastest growing economies in his first trip overseas since taking office. "China will make your dream come true," Li told a banquet hall filled with Chinese and Indian business executives in the financial capital of Mumbai as he wound up his visit on Tuesday. ...

By Tim Kelly TOKYO (Reuters) - Few foreign activist investors have made much headway in forcing change in Japan, where a conservative corporate culture favours long-standing ties with banks, business partners and workers rather than shareholders seeking value. Struggling electronics giant Sony Corp , though, with more foreign and fewer bank shareholders, may prove something of an exception. That's the hope, at least, of Californian billionaire Daniel Loeb, whose Third Point hedge fund has built up a more than 6 percent stake in Sony, making it the group's biggest stockholder. ...

By Liana B. Baker REUTERS - ESPN, the sports channel that is Walt Disney Co's most profitable unit, is cutting 300 to 400 jobs across the company and closing a small Denver office, a person with knowledge of the cuts said. The job cuts, comprising 4 to 6 percent of ESPN's staff of 7,000, include open positions that will not be filled, said the source, who asked not to be named because the information is not public. But ESPN will continue hiring for other open positions, the person said. The channel has recently won rights to exclusive coverage of the U.S. ...

By Jonathan Spicer and Paul Carrel NEW YORK/FRANKFURT (Reuters) - Two senior Federal Reserve officials on Tuesday played down the chances that the U.S. central bank would signal a readiness to reduce its bond buying at its meeting next month, dampening speculation the Fed's ultra-easy monetary policy might end soon. New York Federal Reserve Bank President William Dudley and St. Louis Fed chief James Bullard, both of whom will vote at the June 18-19 meeting, made clear further economic progress was needed before they would support curtailing bond purchases. ...

By Angela Moon NEW YORK (Reuters) - U.S. stocks rose on Tuesday, with the Dow and the S&P 500 closing at new all-time highs as Federal Reserve officials' comments eased some concerns that the central bank could start reducing its stimulus program. Dow component Home Depot gave the market a lift after the world's largest home improvement chain raised its profit outlook, driving its stock to a record intraday high. JPMorgan also bolstered the Dow, rising more than 1 percent to a 52-week high after the bank's chief executive won a vote of confidence from shareholders. ...

By Ryan Vlastelica NEW YORK (Reuters) - Stock markets around the world edged higher on Tuesday amid signs of improving growth, even though questions about monetary policy limited gains. The Dow Jones industrial average and S&P 500 ended at all-time highs, while the dollar rose and gold fell. The euro was slightly higher, though a slowdown in British inflation sent sterling to a 7-week low on the view it could give the Bank of England more leeway to support the economy. The yen lost ground after a Japanese minister rowed back on remarks suggesting the currency had weakened enough. ...

By Carey Gillam and Ian Simpson MOORE, Oklahoma (Reuters) - Rescuers went building to building in search of victims and thousands of survivors were homeless on Tuesday, a day after a massive tornado tore through a suburb of Oklahoma City, wiping out whole blocks of homes and killing at least 24 people. Nine children were among the dead, including seven who died at Plaza Towers Elementary School, which took a direct hit in the deadliest tornado to hit the United States in two years. ...

By Alistair Barr SAN FRANCISCO (Reuters) - PayPal, the online payment operation owned by eBay Inc , will increase marketing spending to support its push into physical stores, President David Marcus said on Tuesday. "You'll start seeing us amping marketing up later this year," Marcus said in an interview with Reuters. PayPal is trying to become a common way of paying in physical stores, a much larger market than its online roots. ...

By Marcus George DUBAI (Reuters) - Iranian authorities on Tuesday barred former President Akbar Hashemi Rafsanjani, a relative moderate, from running in the June 14 election, along with a protege of the current president, leaving mainly hardliners left to contest the vote. Rafsanjani and Esfandiar Rahim Mashaie, a close aide to current President Mahmoud Ahmadinejad, failed to make it onto a list of candidates approved by the Guardian Council, state news agencies and television reported. ...

Moscow, May 22 (IANS/RIA Novosti) Russia will decommission and scrap two of the world's largest submarines by 2018, a defence industry source has said.

New Delhi, May 22 (IANS) Blistering unbeaten knocks by David Hussey and Suresh Raina took two-time champions Chennai Super Kings to their fifth Indian Premier League (IPL) final in six seasons with a comprehensive 48-run win over Mumbai Indians in the first qualifier at the Ferozeshah Kotla here Tuesday.

Los Angeles, May 21 (IANS) Supermodel Miranda Kerr likes to wear her husband Orlando Bloom's clothes because it makes her feel closer to him.

New Delhi, May 21 (IANS) Scoreboard of qualifier 1 of the Indian Premier League (IPL) between Chennai Super Kings and Mumbai Indians at the Ferozeshah Kotla here Tuesday.

New Delhi, May 21 (IANS) Chennai Super Kings secured yet another final berth after a convincing 48-run win over Mumbai Indians in qualifier 1 of the Indian Premier League (IPL) at the Ferozeshah Kotla here Tuesday.

Washington, May 21 (IANS) As rescuers searched for survivors of Monday's devastating tornado that pulverized a vast swath of the Oklahoma City suburbs, authorities revised the death toll down to 24 from 91. Nine of the fatalities are children.

New Delhi, May 21 (IANS) Aam Aadmi Party (AAP) Tuesday criticized the appointment of former defence secretary Shashi Kant Sharma as the new Comptroller and Auditor General, accusing the United Progressive Alliance government of accusing of weakening constitutional institutions.

New Delhi, May 21 (IANS) On the eve of the fourth anniversary of UPA-II, opinion polls have not brought any cheer to the government, predicting slide in the ruling alliance's tally amid rising dissatisfaction among large sections of urban voters over its performance.

Mumbai, May 21 (IANS) Actor Ranbir Kapoor Tuesday said he was not aware of any plans for his father Rishi Kapoor and him to reprise his great-grandfather Prithviraj Kapoor and grandfather Raj Kapoor's roles in "Awara", saying one will have to get them and Nargis back to this world to make the film again.

New Delhi, May 21 (IANS) The Delhi High Court Wednesday is likely to pronounce its verdict whether to prosecute Bollywood actor Shyan Munshi and 18 others on charges of perjury for turning hostile during their deposition in model Jessica Lall's murder trial.

New Delhi, May 21 (IANS) A 40-year-old Delhi Traffic Police constable was killed by a speeding truck here Tuesday morning, police said. The errant truck driver was arrested.

Kolkata, May 21 (IANS) West Bengal Chief Minister Mamata Banerjee announced Tuesday that the government would ban online lottery "Online lotto".

Srinagar, May 21 (IANS) A self-styled "religious preacher" was arrested from Jammu and Kashmir's Badgam district for repeated sexual exploitation of four minor girls at an institute he ran, police said Tuesday.