Federal Reserve
Bernanke says Fed likely to reduce bond buying this year
Federal Reserve Chairman Ben Bernanke said on Wednesday the U.S. economy is expanding strongly enough for the central bank to begin slowing the pace of its bond-buying stimulus later this year. Full Article | Instant View
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MARKET EYE-Indian shares gain; SBI, Coal India up
Technology
Microsoft reverses position on Xbox One
Microsoft says that users of its forthcoming Xbox One game console will be able to play games offline without an Internet connection, and will be able to lend or sell used disc-based games. Full Article
* The BSE index gains 0.13 percent and the NSE index is up 0.12 percent. * State Bank of India gains 0.6 percent while Coal India is up 0.3 percent ahead of their quarterly results later in the day. * Shares in United Spirits Ltd rise as much as 6.1 percent on hopes Indian liquor baron Vijay Mallya's company is nearing a deal to sell a stake to Diageo, with sources telling Reuters an announcement could be made as early as Friday. * However, Asian shares extend losses, weighed down by worries over the risk of a recession in the world's largest economy as the United States faces a looming fiscal crisis and by uncertainty over a bailout for Greece, which keep sovereign bonds firmly bid. (abhishek.vishnoi@thomsonreuters.com)
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