Yahoo India Finance News Headlines

By Jason Lange and David Lawder WASHINGTON (Reuters) - The chances of a deal between Democratic and Republican lawmakers that would overhaul the tax system, trim government spending and reform safety net spending programs appear to be fading. A sudden improvement in the outlook for the government deficit over the next decade has alleviated some of the pressure on lawmakers to act. And a spate of scandals, involving the Internal Revenue Service, security for the U.S. ...

(Reuters) - Steven A. Cohen has received a subpoena to testify before a grand jury in a U.S. government insider trading investigation into his hedge fund SAC Capital Advisors, the New York Times reported, citing lawyers and executives briefed on the case. Other SAC executives also received similar subpoenas and the fund itself has received requests for information about its activities, the lawyers and executives told the New York Times. Jonathan Gasthalter, a spokesman for SAC, declined to comment to the New York Times about the subpoenas. ...

By Kristen Hays and Jonathan Leff HOUSTON/NEW YORK (Reuters) - For the past three years, the boom in the U.S. shale oil industry has outstripped all expectations. Production surged far faster than any forecasts; drillers raced to secure space in new pipelines to get their crude to market. Now, at the periphery, that may be changing - at least for a while. News from two of the country's less developed shale plays in Colorado and Ohio last week offer a reality check for the wave of euphoria that has washed across the industry. ...

By Masayuki Kitano SINGAPORE (Reuters) - The yen pulled up from a 4-1/2 year low against the dollar on Monday after Japan's economics minister said a further steady drop in the yen could have negative effects on households, pushing the dollar to a low of 102.00. "People say the excessively strong yen has corrected quite a bit. If the yen continues to weaken steadily from here, negative effects on people's lives will emerge," Economics Minister Akira Amari told a Sunday talk show - sparking some buying back of the yen in a thin market. ...

By Donny Kwok and Lavinia Mo HONG KONG (Reuters) - Armed with empty suitcases and same-day return tickets, an army of mainland Chinese is descending on suburban outlet shopping malls and international fashion chains in Hong Kong, turning cheap into the new chic as luxury falls out of favor. Wealthy Chinese used to stop over in Hong Kong for a few days to pick up a Louis Vuitton bag or a wristwatch for up to 40 percent less than in Beijing or Shanghai. ...

By Christine Stebbins CHICAGO (Reuters) - Financial trading in world markets has grown so lightning-fast that effective regulation is growing tougher by the second, increasing the threat of crashes sparked by hoaxes, electronic glitches or yet-unknown causes. The latest alarm was triggered by a fake tweet saying that the White House was bombed, prompting a U.S. market nosedive that ended minutes later when the Associated Press said its Twitter account had been hacked. In 2010 U.S. stocks plunged in a "flash crash" following aggressive sales of stock-index futures by a mutual fund. ...

By Stanley White TOKYO (Reuters) - Japan risks missing, yet again, an opportunity to use foreign investment to help fuel sustained economic growth that has eluded it for the last two decades. Prime Minister Shinzo Abe pledged to make Japan "the world's easiest country for companies to do business in" as part of his economic revival plan, which so far has been largely met with approval. The stock market has rallied 45 percent this year and Abe's approval ratings are around 70 percent. ...

SAN FRANCISCO (Reuters) - Yahoo Inc's board has approved a deal to buy blogging and social networking site Tumblr for $1.1 billion in cash, the Wall Street Journal cited people familiar with the matter as saying on Sunday. Such an acquisition would be Marissa Mayer's largest deal since taking the helm of the once-iconic Internet company in July 2012. Yahoo is keen on fast-growing Tumblr because its younger user base would bolster the older website's "cool factor," the technology blog AllThingsD cited the sources as saying. ...

By James Pomfret and Matthew Miller ZHUHAI, China/HONG KONG (Reuters) - In an underground mall just a stone's throw from China's teeming border with Macau, a row of 30 small shops with identical golden plaques does a brisk, though shadowy trade with mainland Chinese visitors, many of them bound for the gambling hub. "Good rates. Better than the banks," shout salespeople jostling to usher clients into shops where thick wads of Chinese 100 yuan ($16.31) and HK$1,000 ($130) bank notes change hands and shuffle noisily through electronic cash-counting machines. ...

By Clara Ferreira-Marques LONDON (Reuters) - Britain's parliament will this week consider whether to probe the transparency of oil and mining firms listed in London, an issue highlighted by corruption probes at emerging market miners which lawmakers fear have dented the stock market's reputation. The chairman of parliament's Committee for Business, Innovation and Skills said on Sunday he would this week propose an inquiry into issues including governance and anticorruption protection at mining and oil companies. The probe could start before the end of the parliamentary session in July. ...

By Allison Martell (Reuters) - Hope is fading for a global deal to regulate the airline industry's greenhouse gas emissions ahead of a fall deadline, even though failure could push the industry back to the brink of a trade war over the European Union's emissions trading system. Last November the EU suspended its controversial scheme to force all airlines to buy carbon credits for any flight arriving in or departing from European airspace. The scheme had pitted European states against China, the United States, India and others, who said it violated their sovereignty. ...

By Manuela Badawy NEW YORK (Reuters) - With the world's biggest central banks driving yields on safe assets to near zero, some investors are tossing caution to the wind and rushing to buy illiquid and previously overlooked bonds sold by countries with no capital markets track record. Even the biggest investors acknowledge that "frontier markets" like Vietnam and Romania aren't for the faint of heart because nobody knows whether these new debt market players will be able to make good on their obligations. ...