People walk in the Wipro campus in Bangalore June 23, 2009. REUTERS/Punit Paranjpe/Files

Wipro upbeat on growth prospects; profit beats f'cast

Wipro, India's third-biggest IT services exporter, posted forecast-beating quarterly profit on Thursday and said it expects a stronger year ahead on increased spending by overseas clients.  Full Article 

Hotel magnate Sant Singh Chatwal pleads guilty to U.S. campaign contribution scheme 2:49am IST

NEW YORK - Prominent New York hotel executive Sant Singh Chatwal pleaded guilty on Thursday to conspiring to make $188,000 of illegal campaign contributions to three U.S. candidates via straw donors.

An employee counts Indian rupee currency notes inside a private money exchange office in New Delhi July 5, 2013. REUTERS/Adnan Abidi/Files

Rupee snaps three-day fall; share gains help

The rupee recovered in late trade, boosted by gains in the domestic sharemarket while some dealers also cited dollar selling by large state-run banks which could be on behalf of the RBI.  Full Article 

Family members of passengers missing on the overturned South Korean ferry Sewol react at the port in Jindo April 17, 2014. REUTERS/Kim Kyung-Hoon
Korea Ferry Tragedy

Divers struggle in search for survivors

Rescuers struggled with strong waves and murky waters as they searched for hundreds of people, most of them teenagers, still missing after a South Korean ferry capsized 36 hours ago.  Article 

Women stand near TV sets during Russian President Vladimir Putin's live broadcast nationwide phone-in at the DNS electronic shop in Russia's Siberian city of Krasnoyarsk, April 17, 2014. REUTERS/Ilya Naymushin

Three dead in Ukraine, Putin warns of "abyss"

Separatists attacked a Ukrainian national guard base overnight and Kiev said three of them were killed, the worst bloodshed yet in a 10-day pro-Russian uprising, accompanied by tough words from Vladimir Putin that overshadowed crisis talks.  Full Article 

Roger Federer of Switzerland returns the ball to Lukas Rosol of the Czech Republic during the Monte Carlo Masters in Monaco April 17, 2014. REUTERS/Eric Gaillard

Nadal, Federer and Djokovic all into last eight

Rafa Nadal, Roger Federer and Novak Djokovic demonstrated their superior class on clay as they eased into the quarter-finals of the Monte Carlo Masters on Thursday.  Full Article | Related Story 

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Nobel Laureate Author Dies

Deepak Yohannan

Third party premium for motor insurance increased

The premium for third party insurance is set by the insurance regulator. The problem is that companies know the portfolio will be bleed and hence, avoid taking risks as much as possible. There is also a lack of awareness, especially among owners of two-wheelers, who end up not insuring their vehicle every year.  Full Article 

Diageo throws money at Indian empire-building

Diageo throws money at Indian empire-building

Diageo is engaging in some expensive empire-building in India. An under-powered tender offer meant an earlier attempt to take control of Vijay Mallya’s United Spirits was only partially successful. Now the world’s biggest spirits maker has more than doubled the price it is willing to pay, offering $1.9 billion to raise its stake to 54.8 percent from 28.8 percent.  Commentary 

Paul Donovan

The Reform Club

In one sense, the fact that ambitious global reforms are likely to be more modest in reality is to be welcomed. The most successful reforms tend to be those reforms that are undertaken against a backdrop of economic growth elsewhere in the world. If three-quarters of the world were to try and reform all at once, there would be no external growth left to ease the pain of adjustment, writes Paul Donovan.   Full Article 

Neal Gabler

America: The anecdotal nation

Americans seem to have a greater fondness for anecdotes than citizens of any other nation. Newscasts have human-interest segments; no recent State of the Union address is complete without the president pointing up to the gallery and telling stories of his guests there. Though many anecdotes are harmless, they can be worrisome when it comes to public policy.  Commentary 

Alan Guo (C), CEO of Light In The Box, Ltd., and other company executives watch as their company begins trading on the floor at the New York Stock Exchange, June 6, 2013. REUTERS/Brendan McDermid

Alibaba, Weibo and China's potential for growth

In recent weeks, there has been a surge in Chinese tech sector IPOs - including Alibaba and Weibo - all planning to list on American exchanges. They’re smart to list away from home: doing so will give them access to more liquidity, and allow them to avoid certain restrictions - like the rule that companies cannot IPO in China if they haven’t yet turned a profit.  Full Article 

Edward Hadas

Wealth buys less lifestyle, more power

The more money people have to fling around, the greater their influence on legislators, jurists, and charitable and educational institutions. They can shape tax laws and push companies to favour shareholders – that is themselves – over customers and workers. More insidiously, the ultra-rich can fund foundations and think tanks and back publications which help shape the public debate.  Commentary 

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