Most Popular Business News

By Dane Hamilton
NEW YORK (Reuters) - Financier Carl Icahn launched a campaign to replace Yahoo Inc's board with directors who would reopen talks with Microsoft Corp, saying Yahoo acted "irrationally" in refusing the software company's $47.5 billion bid. 

NEW YORK (Reuters) - U.S. stocks rose on Thursday as a drop of more than $2 in crude oil prices eased worries about the impact of higher energy costs on consumer spending. 

NEW YORK (Reuters) - Financier Carl Icahn on Thursday launched a proxy battle to force Yahoo Inc to reopen buyout talks with Microsoft Corp, saying the Yahoo board had acted "irrationally" in refusing its $47.5 billion offer. 

Mumbai, May 15 (PTI) India's growth, despite current crisis of spiraling inflation, was robust and irreversible, a top World Bank official has said . 

MUMBAI (Reuters) - India's gold sales during the Akshaya Tritiya festival was at 48.99 tonnes this year, down 11 percent compared to last year, the World Gold Council said in a statement on Thursday. 

By Anurag Joshi
MUMBAI (Reuters) - The rupee erased early gains on Thursday and fell to 13-month lows on arbitrage trading by banks toward the close, and could cloud the near-term outlook for the unit. 

Mumbai, May 15 (IANS) Indian equities markets, which opened in the green Thursday, performed very well throughout the day and a key index climbed over 375 points, mirroring cues from other Asian markets. 

MUMBAI (Reuters) - The rupee's steep fall versus the dollar may widen its current account deficit and push inflation higher, Credit Suisse said on Thursday. 

Mumbai, May 15 (IANS) The Sensex climbed over 360 points at the day's close Thursday as Indian stock markets - that opened in the green - witnessed brisk trade. 

LONDON (Reuters) - Ratings agency Standard & Poor's cut Pakistan's sovereign rating on Thursday, citing increasing pressure from expanding fiscal and external imbalances against a volatile political setting. 

TEHRAN (Reuters) - The weak U.S. dollar is the main reason behind oil prices rising to record levels, not demand or supply factors, an Iranian Oil Ministry official was quoted as saying on Saturday. 

New York, May 9 (IANS) Vikram Pandit, India born chief executive of Citigroup, Friday presented his strategy to turn around the beleaguered bank and announced that it plans to unload $400 billion more in 'legacy assets' over the next few years to reinvigorate itself. 

New Delhi, May 8 (PTI) Gold prices today rose by Rs 35 to Rs 11,855 per 10 gram for the fourth straight day in the bullion market here today on scattered buying by retail customers. 

Kuala Lumpur, May 7(IANS) The Quest India Group of Companies has termed as 'inaccurate' reports from Chennai about the arrest of one of its woman employee and seizure of goods. 

World's fifth largest steelmaker Tata is likely to join the race to acquire Indonesia's state-run steel mill P T Krakatau alongwith ArcelorMittal and Australia's BlueScope, the country's leading daily The Jakarta Post reported. 

Mumbai, April 28 (IANS) Anil Ambani-promoted Reliance Communication Ltd Monday announced a plan of 'Unlimited Free STD' calls between Reliance to Reliance mobile phones across post-paid and pre-paid services. 

Kochi, April 25 (IANS) Dewa Projects Pvt Ltd, promoted by a group of non-resident Indians in Kuwait, has announced its entry into the real estate sector in Kerala. 

MANILA (Reuters) - The Philippines, one of the country's most affected by soaring rice prices, called on Friday for a meeting of Asian ministers to discuss a global rush for the grain that has heightened anxiety about food security. 

Vadodara, March 31 (IANS) City-based Alembic Ltd, one of the leading pharma entities in India, completed its year-long centenary celebrations Monday with a resolve to become a Rs.20-billion ($500 million) company in the next four years. 

London, March 26 (IANS) Trade and Investment Minister Lord Digby Jones - who has just won a campaign to be allowed to drive a Jaguar - said Wednesday the British government welcomes the 'long-term commitment' shown by Tata Motors in purchasing the Jaguar and Land Rover brands. 

Mumbai May 16 (IANS) Indian equities markets opened in the green zone Friday, taking off from the positive close overnight and mirroring strong cues from global markets. 

MUMBAI (Reuters) - Telecommunications firm Tech Mahindra Ltd has bagged a $700-million contract from BT Group to improve the latter's IT infrastructure, the Economic Times newspaper reported on Friday. 

Washington, May 16 (IANS) The World Bank has approved a $600 million credit to support to India's Sarva Shiksha Abhiyan (SSA), a nationwide centrally sponsored programme designed to provide education to all children aged 6 to 14. 

By Dane Hamilton
NEW YORK (Reuters) - Financier Carl Icahn launched a campaign to replace Yahoo Inc's board with directors who would reopen talks with Microsoft Corp, saying Yahoo acted "irrationally" in refusing the software company's $47.5 billion bid. 

By Megan Davies
NEW YORK (Reuters) - Private equity company Blackstone Group reported a first-quarter loss on Thursday as it cut the value of its investments, but said it saw signs of recovery in the markets and in banks' ability to lend for deals. 

By Randall Palmer
OTTAWA (Reuters) - World food prices should stay high because of rising energy costs and the use of biofuels, but they may ease after stocks are replenished, the Food and Agriculture Organization (FAO) said on Thursday. 

WASHINGTON (Reuters) - The price of gasoline in the United States is at or near the level where people begin to curb their usage, Exxon Mobil Corp chief executive Rex Tillerson told NBC's "Today" program on Thursday. 

NEW DELHI (Reuters) - India's Bharti Airtel Ltd plans to expand its phone towers in Delhi by more than quarter this year to feed rapidly growing users, the leading mobile operator said on Thursday. 

By Hiral Vora
MUMBAI (Reuters) - Indian shares rallied 2.2 percent on Thursday to their highest close in a week, boosted by gains in Reliance Industries Ltd and Reliance Communications Ltd, which won regulatory nod for its unit's share sale. 

By Jane Merriman
LONDON (Reuters) - Oil rose on Thursday, boosted partly by weakness in the U.S. dollar after strong economic growth data from France and Germany pushed the euro higher.