With Congress showing no sign of softening its stance on the big-ticket economic reforms, West Bengal Chief Minister Mamata Banerjee is all set to pull out Trinoomial Congress ministers from the UPA cabinet as her deadline ends on Tuesday. However, she would continue to back the Central government from the outside, said reports.
In what could be a firm testament to Australia's mining regime deceleration, another buyout acquisition has turned pffft. On Friday, Whitehaven Coal Limited announced that major shareholder electrician-turned-mining magnate Nathan Tinkler and his Tinkler Group is no longer interested in pursuing a takeover bid for the company, worth $5.2 billion or $5.20 cash per share. Industry observers opined Mr Tinkler could have been unable to gather enough funding for the bid, thus the cancellation, two months after he approached Whitehaven Coal with a takeover proposal.
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(Reuters) - Spain is negotiating with euro zone partners over conditions for aid to bring down its borrowing costs, though the country has not made a final decision to request a bailout, three sources with knowledge of the matter said on Thursday. The favored option being discussed is that the existing European rescue fund, the EFSF, would purchase Spanish debt at primary auctions while the European Central Bank would intervene in the secondary market to lower yields.
India 's exports and imports declined for the second consecutive month in June due to the global economic slowdown and a fall in the prices of oil. Exports fell by 5.45 percent to $25 billion while imports declined sharply by 13.46 percent to $35.37 billion, according to the data released by the Ministry of Commerce
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Young sports fans are increasingly using social media to share their Olympic experiences The most anticipated head-to-head battle of the London Olympics is suddenly looking a bit one-sided as social media upstart Twitter sprints away with the headlines while its established rival Facebook remains stuck in the blocks.
Power supply has been successfully restored in three electricity grids following massive power outage on Tuesday that affected half the population in India . "Power has been restored fully across the northern, eastern and north-eastern grids," Power System Operation Corporation (PSOC) chief SK Soonee said according to the Agence France-Presse. According to the news agency, Soonee said that PSOC engineers worked overnight to reinstate electricity supply in the three power grids, which collapsed on Tuesday afternoon in one of the worst power failures of the past decade
A rising Australia n dollar, coupled with cost increases and low domestic demand has pushed Australia 's manufacturing sector to post its lowest ever growth in three years in July, which could also get worse with the implementation of the carbon tax. The Australian Industry Group-PricewaterhouseCoopers Australian Performance of Manufacturing Index, in a survey released on Tuesday, dropped 6.9 points to 40.3 in the month, way below the 50 point mark reading that divorces expansion from contraction. A reading below 50 indicates a contraction.
Premier Oil PLC ( London : PMO) has agreed to a $1 billion deal to take a stake in oil drilling in the UK-controlled Falkland Islands, but its greatest obstacle could be Argentina 's government.
Former British Defense Secretary Liam Fox has urged the government to consider leaving the European Union (EU), unless the body rebalances its relationship with London . ''Britain's destiny is not a debating issue for leaders on the continent,” Fox said, adding that Brussels exerts undue influence on UK government policies. "It must be made in Britain." Fox’s comments will likely add pressure on Prime Minister David Cameron who is expected to address parliament on last week’s EU summit