Government wins vote on retail FDI in Lok Sabha
NEW DELHI - The fragile ruling UPA coalition won a vote on allowing foreign supermarkets to operate in Asia's third-largest economy on Wednesday, in a key test of support for Prime Minister Manmohan Singh and his flagship economic reform.
Citigroup cutting 11,000 jobs, taking $1 bln in charges
- Citigroup Inc said it is cutting 11,000 jobs worldwide, delivering the first of what investors expect to be a new series of steps to shrink the bank down to a more manageable and profitable size.
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HSBC might pay $1.8 bln money laundering fine
HSBC Holdings Plc might pay a fine of $1.8 billion as part of a settlement with U.S. law-enforcement agencies over money-laundering lapses, according to sources. Full Article
Software guru McAfee arrested in Guatemala
Anti-virus software guru John McAfee was arrested by Guatemalan police on Wednesday, for illegally entering the country, interior minister Mauricio Lopez Bonilla said. Full Article
Manmohan Singh at No. 19 in Forbes power list
When it comes to power, politics trumps business, according to a new Forbes ranking on Wednesday that found heads of state occupying six of the top 10 spots among the world's most powerful people, led by President Barack Obama. Full Article
Younger girls forced into prostitution
"We are seeing the number rise in these 10 red light districts while the age of the girls is falling," said Ruchira Gupta who works with prostitutes in 10 red light districts, adding the average age of female prostitutes in India was between nine and 13. Full Article
Latest Headlines
Dial-a-maid, get-a-slave in middle class India
In many cases, victims go to placement agencies where they stay with little freedom until the phone rings and an unsuspecting customer like me orders a maid. But it is also India’s middle classes, employers like me, who are complicit -- knowingly or unknowingly -- by allowing these agencies to continue to control the young woman’s life, or even worse, by exploiting her further. Full Article
The crumbling of the Murdoch dynasty
After an especially awful 2011, this fall has been just as wretched for Rupert Murdoch, with the promise that next year will be even more torrid. The 81-year-old magnate waves away suggestions he might retire, but if he wants to direct who will get to run the company he has built up, he is running out of time. Commentary
Media in India: fine line between regulation and freedom
Questions that remain unanswered in the Zee case are best left to the courts. But if a journalist is found guilty in an extortion case and serves the jail-term, can he be trusted to report objectively once he’s back on the job? What we need are rules with provisions to ban journalists or news organisations found guilty in such cases. Full Article
Political Pulse & India's Road to Reforms
After the bold moves of opening up the retail and aviation sectors, the cabinet has also approved various bills to attract foreign investment into the insurance and pension sectors to restore confidence in the economy, although the reforms will face a tough fight in parliament. Reuters India brings you the latest updates from the world of politics and reforms. Click here
On the Road
Delhi autowallahs take you for a ride
Here’s a phrase that you need to learn if you’re new to New Delhi. Everyone knows it and anyone can teach you: “Meter kyon nahi chalta hai?” (“Why doesn’t the meter work?”) This will become an elementary part of your conversation with autowallahs, the drivers of the green-and-yellow three-wheelers that ferry people around the region, writes Anuja Jaiman. Full Article
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