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 small lenders gain; bank bill sparks M&A hopes
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
* Shares in India's smaller private sector banks gain on hopes the banking amendment bill approved by parliament on Tuesday will spark consolidation in the sector. * The bill lays the groundwork for non-banking financial companies to win banking licences, sparking speculation they could look to purchase smaller lenders to expand their footprint in the sector. * "We think there is a high possibility that many of the new banks could consider acquiring older, smaller banks with large distribution networks such as Karnataka Bank, Federal Bank, etc," Bank of America Merrill Lynch said in a report. * Dhanlaxmi Bank gains 3.4 percent, Karnataka Bank gains 4.3 percent while Federal Bank is up 4.4 percent. (abhishek.vishnoi@thomsonreuters.com /; abhishek.vishnoi.reuters.com@reuters.net)
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