Yahoo! News India

By Tim Kelly TOKYO (Reuters) - Sony Corp cut its sales targets for digital cameras, smartphones and tablets by 13-17 percent for the year to end-March 2015, but said there were "encouraging" signs of a revival in its electronics business. CEO Kazuo Hirai told a press briefing on Wednesday that Sony would assess a proposal from its biggest shareholder, billionaire Daniel Loeb's Third Point LLC hedge fund, that the group should sell up to a fifth of its music and movies business, which includes artists such as Adele and hit franchises like "Spider-Man". ...

By Amlan Chakraborty NEW DELHI (Reuters) - Cricketer Shanthakumaran Sreesanth has insisted he is innocent of any wrongdoing in the ongoing spot-fixing scandal and is confident of emerging from the "tough period" with his dignity intact. The 30-year-old bowler was one of three players, along with 11 bookmakers, arrested last week on suspicion of spot-fixing in the Indian Premier League (IPL) Twenty20 competition, the allegations also earning him an immediate suspension from the cricket board. "I am innocent and have done no wrong. ...

By A. Ananthalakshmi SINGAPORE (Reuters) - Gold rose on Wednesday on strong Chinese demand and after Federal Reserve officials allayed investor concerns that the U.S. central bank will soon exit its bullion-friendly bond purchases. Gold has been pressured in recent weeks by fears the Fed could scale back or halt its monthly $85 billion bond purchases that have buoyed bullion's appeal as a hedge against inflation. Spot gold rose 0.2 percent to $1,378.29 an ounce by 0628 GMT, but remains not far off a two-year low of $1,321.35 reached during a sell-off last month. ...

By Krishna N Das NEW DELHI (Reuters) - India's cable makers face a severe shortage of copper and potential manufacturing delays after the closure of the country's two biggest copper smelters, which has pushed up prices and led to a spike in imports. India's biggest smelter, owned by Sterlite Industries , was shut on March 30 after local residents complained of emissions that led to breathing difficulties, forcing top copper users to rely on rival Hindalco Industries for almost all their copper needs. ...

By Masayuki Kitano and Vidya Ranganathan SINGAPORE (Reuters) - Some Asian stock markets rose on Wednesday following a positive lead from Wall Street, with Japan's Nikkei reaching a 5-1/2 year high and staying firm as the Bank of Japan stood pat after unleashing massive stimulus last month. European stocks are expected to inch lower with markets taking a breather from a month-long rally before U.S. Federal Reserve Chairman Ben Bernanke's testimony to Congress. Financial spreadbetters expect Britain's FTSE 100 to open down 0.16 percent, Germany's DAX to open 0. ...

LONDON (Reuters) - British soft drinks maker Britvic will close two factories and a warehouse in the UK and roll out the Fruit Shoot brand in India as part of a new strategy announced with its interim results. Proposals to deliver annual savings of 30 million pounds include closing two factories in Britain and a warehouse in Northern Ireland, as well as creating a combined British and Irish business unit under a single leadership team. The company also reached an agreement with Narang Group for the national sales and distribution of Fruit Shoot in India, commencing mid-2014. ...

By Ian Simpson and Alice Mannette MOORE, Oklahoma (Reuters) - Rescue efforts in the tornado-ravaged Oklahoma City suburb of Moore continued through the night into Wednesday morning, with officials increasingly confident that everyone caught in the disaster had been accounted for. The massive tornado that tore through the area on Monday wiped out blocks of houses, killed at least 24 people and injured about 240. ...

DUBAI (Reuters) - Iranian President Mahmoud Ahmadinejad said on Wednesday he would take up the ban of his close aide from the June 14 presidential vote with Supreme Leader Ayatollah Ali Khamenei, Iranian media reported on Wednesday. Iran's electoral watchdog on Tuesday disqualified Esfandiar Rahim Mashaie, Ahmadinejad's former chief of staff, from running in the June 14 presidential vote. "In my opinion there will be no problem with the Leader and I will take up this issue until the last moment with him," Ahmadinejad said on Wednesday, according to the ISNA news agency. ...

MELBOURNE (Reuters) - Bernard Tomic will play at next week's French Open despite his off-court troubles if only to keep some momentum going for the grasscourt season ahead, Tennis Australia's Todd Woodbridge said on Wednesday. Tomic's father John faced a charge of causing criminal injury in a Madrid court earlier this month after allegedly assaulting his son's hitting partner Thomas Drouet. Tomic senior says he acted in self defence and the court hearing has been suspended until October. ...

By Alan Baldwin MONACO (Reuters) - Words and hats may have to be eaten along with the usual canapes and caviar if Lewis Hamilton wins the glamour race of the Formula One season in Monaco this weekend. The sceptics who doubted McLaren's 2008 world champion would stand on top of the podium this season after his move to Mercedes face a moment of truth with Hamilton's team arriving in the Mediterranean principality on the back of three pole positions in a row. ...

REUTERS - The Cleveland Cavaliers won the NBA Draft Lottery and the top overall pick for the second time in three years on Tuesday. The Cavaliers were able to edge out the Orlando Magic, who had the highest probability of winning the top selection, as they continue to rebuild a franchise reeling from the loss of LeBron James following the 2009-10 campaign. "It's huge for us," Cavaliers owner Dan Gilbert told reporters. "This is our third year in a row in the lottery. Hopefully it's our last for a long, long time. ...

By Nick Macfie ISLAMABAD (Reuters) - China and Pakistan should make cooperation on power generation a priority, Chinese Premier Li Keqiang said, as Islamabad seeks to end an energy crisis that triggers power cuts of up to 20 hours a day, bringing the economy to a near standstill. Li arrived in the Pakistan capital on Wednesday on the second leg of his first official trip since taking office in March after a visit to Pakistan's and China's arch rival, India. Tight security included shutting down mobile phone networks across the city. ...

BEIJING (Reuters) - A court in the city of Chongqing has charged six people with working together to blackmail government officials by recording videos of them having sex, the official Xinhua news agency reported on Wednesday. The six were charged with extortion on Monday, Xinhua said, citing a statement from judicial authorities in Chongqing, where they are slated to be tried. Investigators said the group "lured officials into having sex with women and secretly recorded their encounters to blackmail them from 2008 to 2009", Xinhua said. ...

New Delhi, May 22 (IANS) As the UPA got down to celebrating its fourth anniversary, the BJP Wednesday trained its guns on Prime Minister Manmohan Singh and said he was neither leader of his party nor the country.

Patna, May 22 (IANS) A bridegroom was shot dead by unidentified assailants in a Bihar village late Tuesday, minutes before he was to be married, police said Wednesday.

New Delhi, May 22 (IANS) Mumbai Indians' wicketkeeper-batsman Dinesh Karthik was fined five percent of his match fees for showing dissent during the first qualifier of the Indian Premier League (IPL) against Chennai Super Kings at the Ferozeshah Kotla here Tuesday night.

Beijing, May 22 (IANS) Six people have been prosecuted for allegedly working together to blackmail government officials in the Chinese city of Chongqing with secretly recorded sex videos.

Stockholm, May 22 (IANS) More than 40 Indian families in densely populated Stockholm suburbs are worried over explosive protests in the past week, which one Indian immigrant described as "unusually fearome".

Los Angeles, May 22 (IANS/EFE) Spanish actor Antonio Banderas will star in "The 33", a film based on the story of survival of the miners buried for more than two months in a mine in northern Chile, Variety reported.

Havana, May 22 (IANS) The 7th International Ophthalmology Congress, to be held here June 29-31, will draw experts from 15 countries, Xinhua reported.

Beijing, May 22 (IANS) Chinese authorities have halted 180,000 online publications for spreading pornographic content since the country launched an Internet clean-up campaign in March.

West Bank, May 22 (IANS) Myanmar rode two first half goals from Naw Phaw and Khin Moe Wai to edge past India in their first Group D encounter of the AFC Women's Asian Cup football qualifiers at the Faisal Al Huseni Stadium here.

Seoul, May 22 (IANS) A total of 245 South Koreans were confirmed to have established paper companies in safe havens in a bid to avoid tax payment, an independent South Korean media said Wednesday.

Dhaka, May 22 (IANS) Directed at channeling the "patriotic spirit" of youngsters in Bangladesh to create a "secular youth force", the Shahbag movement, that peaked in February and March with tens of thousands of protesters and torchlight processions, is "not dead" and "lives on" sans the noise and the fury, its leaders and participating activists claim.

Washington, May 22 (IANS/EFE) Microsoft unveiled a new Xbox console Tuesday that represents a major upgrade on the US-market-leading Xbox 360 model.

New Delhi, May 22 (IANS) The UPA-II government needs course correction in the remaining year of its term, says union minister and NCP leader Praful Patel, noting that the Congress has to build alliances to improve its prospects of leading a coalition regime after the next elections.