Markets face rough summer ride as Fed pullback feared
NEW YORK - For the past few months, the U.S. Federal Reserve has been squarely in the financial markets' corner, thanks to its massive dollops of monetary stimulus. But signs that the central bank is discussing reducing that support by purchasing fewer bonds mean that trading is likely to get bumpier in coming months.
Gold up sharply as dollar, stocks slide
NEW YORK - Gold rose sharply on Thursday as investors sought its safe-haven status after the dollar and equity markets were hit by a slew of weak manufacturing data that indicated stagnant global economic growth.
Obama limits use of U.S. drone strikes
The U.S. President outlined plans on Thursday to limit the use of drone strikes against extremists abroad and took steps aimed at breaking a deadlock on closing the Guantanamo prison. Full Article
Tata Steel says no assets up for sale in Europe
Tata Steel Ltd said it expected to take no further charges in Europe and has put no European assets up for sale, following a $1.6 billion writedown for the region in the past financial year due to weak demand. Full Article
US Fed's delicate new phase of communication
Investors' hair-trigger reaction to Ben Bernanke's testimony marks a delicate new policy phase for the U.S. central bank in which communication is paramount. Full Article | Related story
Umpire Rauf withdrawn from Champions Trophy
Elite panel umpire Asad Rauf was withdrawn from next month's Champions Trophy on Thursday following media reports he was under investigation by Mumbai Police. Full Article
Buy a movie role to fight anti-women violence
Bollywood producer Pooja Bhatt is auctioning off a role in one of her next films to help raise money to reduce rising cases of violence against women in India, the charity Oxfam has said. Full Article
Latest Headlines
Markets Nosedive
Sensex loses 388 points, Nifty ends below 6,000 on Fed, China concerns
The Nifty posts its biggest percentage fall in a year, as the prospect of an end to the U.S. stimulus and weak China factory data sparks concerns foreign investors would end their recent buying spree. The Sensex falls 388 points. Article | Sensex components
The many interpretations of Ben Bernanke
The reaction to Federal Reserve Chairman Ben Bernanke's tediously familiar statement, and release of the equally repetitive minutes of the last Fed meeting, was some of the wildest gyrations seen in the world’s financial markets for months. Why did the financial world react in this manic-depressive way to a statement that was bland and predictable? Commentary
Prosperity without power
In Moscow, they are “non-Soviet Russians.” In New Delhi, they are a “political Goliath” that may soon awake. In Beijing and Sao Paolo, they are lawyers and other professionals who complain about glacial government bureaucracies and endemic graft. Across the BRIC nations, frustrated members of the middle class are demanding change, but traditional power holders remain entrenched. Commentary
Breakingviews
Blame Japan’s debt on companies, not the state
Japan’s government is up to its neck in debt. That, however, is not because the government has been overly profligate, but because Japanese companies have been deleveraging for a long time. If Prime Minister Shinzo Abe’s policies revive private investment, the government’s track record suggests it will tighten its belt. Full Article
Bollywood fashion at Cannes
Remember fashion’s golden rule: you are what you wear. The Bollywood brigade at this year's Cannes Film Festival may seem a bit like the contestants in the national costume round of a beauty pageant. Keeping their identity intact while representing their country on an international platform is praiseworthy, but is it making a fashion statement? Blog
Beckham's final 81st minute
In his last match as a professional footballer, Beckham did everything to be a key player on the pitch. Thanks to him his team was able to score. However, there was something different this time. You could see his desperation to score, a need to shine, and an attempt to make those final minutes on the pitch last as long as possible. Full Article
Delhi's Midnight Inferno
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Crisis looms over Delhi's streets
As night fell across India’s burgeoning capital, tens of thousands of families, migrants and refugees made their beds on pavements stained with chewing tobacco and urine. This glimpse of Delhi’s midnight inferno came as Amnesty International released a report stating that global inaction on human rights is making the world an increasingly dangerous place for refugees and migrants. Patrick Shepherd reports. Video
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The many faces of Sreesanth
The various emotions and reactions of Shanthakumaran Sreesanth on and off the cricket field. Slideshow
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