Rupee hits record low; RBI's hands seen tied
The rupee hit a record low against the dollar, breaching 54.3 versus the dollar, succumbing to the steep risk aversion hitting global markets and highlighting the vulnerabilities of a country facing challenging fiscal and economic outlooks. Full Article | Related Story
Bharti in talks for stake in Qualcomm India unit - sources
MUMBAI/NEW DELHI - Top mobile phone carrier Bharti Airtel is in advanced talks to buyout the Indian partners of Qualcomm Inc in a fourth-generation (4G) broadband venture in the country, two sources with direct knowledge said on Wednesday.
Greeks pull funds from banks, exit fears weigh
Greece's president spoke of "fear that could develop into panic" at the country's banks in the weeks before fresh elections that could precipitate Athens exit from the euro zone. Full Article
JPM was warned about its risk management
A labour-backed shareholder group last year warned JPMorgan Chase & Co that its risk management committee was not up to the task and sought to remove one of its members. Full Article | Video
Mumbai to get a Bollywood mural makeover
The mural of the classic Bollywood film "Anarkali" is the brainchild of a pair of movie buffs, who hope to give Mumbai a distinct Bollywood identity through a series of murals. Full Article
Serbia's Mladic taunts survivors at genocide trial
Bosnian Serb general Mladic taunts Srebrenica survivors at the start of his genocide trial, running his hand across his throat in a gesture of defiance to relatives of one of Europe's worst massacres. Full Article
Latest Headlines
Business of Politics
India has the chance to get a good FM
India has a fantastic opportunity to get a good finance minister. Pranab Mukherjee has been an abject failure: the rupee's record low is just the latest example of the economy's problems. Now he wants to move to the ceremonial role of president. Sonia Gandhi should bite his hand off, writes Jeff Glekin. Full Article
Column
Rajat Gupta and the hearsay rule
Remember the children's game Telephone? One kid whispers something in another kid's ear, the second kid turns around and whispers what she heard to the next child, and so on down the line. That's why courts have a rule barring hearsay because hearsay isn't considered sufficiently reliable. Full Article
INDIA INSIGHT
Has India lost its ‘cartoon’ humour?
The govt's decision to withdraw a controversial cartoon from a political science textbook couldn’t have been more ironic. Just a day earlier, India had observed the 60th anniversary of the first sitting of its parliament. So what is the government’s next move? Ban all cartoons from being published in the press? Or ban all newspapers and magazines? Full Article
In optimism over India-Pakistan trade, a warning flag
Trade is the new/old panacea of India-Pakistan relations, moving ahead rapidly after Islamabad said last year it was ready to match India’s offer of Most Favoured Nation (MFN) trading status. As trade increases, so the argument goes, India and Pakistan will build the trust needed to tackle their territorial disputes, while economic inter-dependence will reduce the risk of conflict. Full Article
Yahoo needs more than a revolution at the top
Yahoo needs more than a revolution at the top. The dysfunctional internet firm is much like a failing country. It has been mismanaged and suffers from bureaucracy and an increasingly uncompetitive business model. It even had, until recently, a dictator for life in founder Jerry Yang. Third Point's successful shareholder revolt promises a fresh start, but fixing Yahoo won't be simple. Full Article
Facebook IPO
Winning Keynesian beauty contest
It’s not every day a new stock comes available sporting a business with some 900 million customers and an operating profit margin approaching 50 percent. And yet the latest potential IPO valuation of as much as $104 billion is difficult to defend using any fundamental analysis, writes Jeffrey Goldfarb. Full Article
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The oldest yoga teacher
Tao Porchon-Lynch, 93, was named the world's oldest yoga teacher by Guinness. Slideshow
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