German lawmakers and a democracy group filed suits challenging the country's participation in Europe's fiscal pact and the permanent bailout fund after parliament approved the measures late yesterday. The group "Europe Needs More Democracy" filed a complaint at the Karlsruhe-based Federal Constitutional Court on behalf of about 12,000 people who signed up via the Internet, it said on its website after the bills were passed. Peter Gauweiler, a lawmaker from the Bavarian sister party of Chancellor Angela Merkel's Christian Democrats, also filed a petition with the court, he said on his website.

Germany's EU fiscal pact challenged in court

Business Standard

Monsoon, which brings more than 70 per cent of India&rsquo;s rain, is set to be less than normal in the whole season for the first time in three years, hurting crops and boosting food costs in the country.

Monsoon in India set to be worst in 3 yrs

The United Nations obtained pledges worth $513 billion from governments and companies for projects aimed at reducing the strain on the planet&rsquo;s resources, the biggest accomplishment at a meeting that world leaders and environmentalists assailed for not setting strong enough goals.

UN reaps sustainability pledges of $513 billion in Rio

For visitors to Bangalore, India&rsquo;s technology capital, the worst leg of their journey can begin after leaving the city&rsquo;s airport.

Nightmare airport road costs jobs for India's Silicon Valley

Euro-area leaders agreed to relax conditions on emergency loans for Spanish banks and possible help for Italy as an outflanked German Chancellor Angela Merkel gave in on expanded steps to stem the debt crisis.

European leaders agree to give bailout fund to banks directly

The US said China and Singapore have &ldquo;significantly reduced&rdquo; their purchases of Iranian oil, earning exemptions from US financial sanctions that otherwise would have been imposed Thursday.

Singapore, China get US waiver on Iran oil sanctions

Nestle SA needs to step up measures to combat child labor in the Ivory Coast cocoa industry, according to a study requested by the Swiss food company that found &ldquo;numerous&rdquo; violations of its internal work rules.

Nestle audit finds child labour violations in cocoa supply

Overseas investors bought a net Rs 560 crore ($102.2 million) of Indian stocks yesterday, raising their investment in the equities this year to Rs 46,450 crore, according to the nation's market regulator.

Foreign investors buy net Rs 560 cr on stocks

India, which is framing rules to allow conversion between local depository receipts and foreign stock, might set a total limit of $5 billion on such two-way swaps, two officials with direct knowledge of the matter said.

India said to limit depository receipt swap at $5 bn

Oil rose in New York on speculation sanctions against Iran would curb supply amid signs that central banks from Europe to China may ease monetary policy to spur economic growth.

Oil advances on Iran supply concern, global stimulus speculation 

The biggest emerging markets are contributing more than ever to the global economy as their proportion of the world stock market shrinks, leaving investors with the widest valuation gap in seven years.

BRIC priced for economic meltdown

The US economy expanded at a slower pace in the second quarter, as a softening job market prompted Americans to curb spending.

US growth rate slows to 1.5% in second quarter

ECB President Mario Draghi signalled that officials are prepared to do whatever is needed to preserve the euro. &ldquo;To the extent that the size of these sovereign premia hamper the functioning of the monetary policy transmission channel, they come within our mandate,&rdquo; Draghi said in London on Thursday. &ldquo;We have to cope with the financial fragmentation, address these issues. Within our mandate, the ECB is ready to do whatever it takes to preserve the euro,&rdquo; Draghi said.

'ECB will preserve euro'

China might refrain from stepping up its monetary stimulus or increasing spending because measures now in place are sufficient to support growth, the International Monetary Fund&rsquo;s top official in the nation said.

China downside risk significant: IMF

Billionaire investor George Soros called on Europe to start a fund to buy Italian and Spanish bonds, warning that a failure by leaders meeting this week to produce drastic measures could spell the demise of the currency.

Soros pushes for EU joint debt fund

Apple Inc. and book publishers that haven't settled e-book price-fixing claims will face trial next year in a case filed by the US Justice Department, a federal judge in New York decided.

Apple e-books price-fixing antitrust suit set for trial

The world's wealthiest people added a combined $3 billion to their collective net worth this week as Swedish retail tycoon Stefan Persson, 64, became the third-richest man in Europe.

World's wealthiest gain as Persson adds $1.9 bn

General Motors Co (GM) is recalling 413,418 Chevrolet Cruzes, its best-selling car model in the US last year, two days after GM had its best showing ever in JD Power &amp; Associates&rsquo; new-car quality survey.

GM recalls Chevrolet Cruzes in the US

Commodities jumped the most in almost six months on optimism that Europe's debt crisis may be contained after leaders agreed to ease repayment rules for emergency loans to Spanish banks and relax conditions on possible help for Italy.

Commodities up most in six months on Europe optimism

Indian stocks swung between gains and losses before European Union leaders begin a summit to tackle the debt crisis in the region, India&rsquo;s biggest trading partner, and before stock index futures expire tomorrow.

India stocks swing between gains, losses before EU summit

Google Inc unveiled a handheld computer called the Nexus 7 that features a 7-inch screen and is designed to help the company vie with Apple Inc and Microsoft Corp in the surging market for tablets.

Bloomberg