December 3: Pictures for the day
December 3: Pictures for the day
Spectators at the Melbourne Cricket Ground (MCG) watch a day-night cricket match
If cars and coal are deemed fine, then so should cricket. New South Wales (NSW) and Victoria are making precisely this pitch as they woo deep-pocketed Indian investors to buy franchises in Australia's Twenty20 league.
After Cricket Australia (CA) approved private ownership in its expanded Big Bash League in October, Cricket NSW and Cricket Victoria have turned their focus on the game's financial hub and expect Indian industrialists to add cricket to their overseas investment portfolio.
"If Tata (Motors) can acquire Jaguar, if Indian companies can make heavy investment in mining in Australia, why not in Australian cricket?" asked Jamie Stewart, Managing Director of the Commune Sports and Entertainment, which is seeking Indian investment for NSW and Victoria.
"It's going to be a win-win situation for the Indian companies.
One of the eight executives arrested in connection with a bribes-for-loans scandal, covers his face from being photographed outside a special Indian court in Mumbai
All eight executives arrested in India's bribes-for-loans investigation were ordered into judicial custody until Dec 16, a local court said on Friday, before it began hearing applications for bail.
On Monday, the special Indian court had extended the custody of the eight arrested until Friday.
The Central Bureau of Investigation arrested the executives from banks and financial institutions last month, including three from Money Matters Financial Services.
The CBI has said that Money Matters acted as a "mediator and facilitator" of corporate loans and other facilities by bribing bank officials.
The 2011 Ford Explorer and other models roll up an assembly line at the Ford assembly plant in Chicago, Illinois
Fresh signs the US economy has broken out of its summer soft patch emerged on Thursday as data showed a gauge of jobless benefits hit a new two-year low last week and pending home sales unexpectedly rose in October.
The picture also brightened as retailers recorded their best sales gains in four years in November, with shoppers drawn in by deals throughout a month that culminated with a surge in "Black Friday" traffic.
The reports were the latest to suggest a pick-up in activity in the fourth quarter.
"There seems to be no doubt that the economy is improving and likely to continue to improve," said Mark Vitner, a senior economist at Wells Fargo Securities in Charlotte, North Carolina.
A sculpture showing the euro currency sign is seen in front of the European Central Bank (ECB) headquarters in Frankfurt
The ECB resisted pressure on Thursday to commit to a major bond-buying program to contain the euro zone debt crisis, but traders said the ECB had been quietly buying bonds anyway.
ECB President Jean-Claude Trichet said the bank had decided at its monthly policy meeting to keep interest rates on hold and it extended its liquidity safety net to support vulnerable euro zone banks.
He made no mention of increasing the ECB's government bond buying program, despite calls to do so after an 85 billion euro ($110.7 billion) EU-IMF rescue of Ireland failed to dispel fears that Portugal or Spain may need a bailout.
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