May 14: Inflation rises to 7.23% in April

May 14: Inflation rises to 7.23% in April

A worker is seen at a site in New Delhi

Larsen and Toubro (L&T) has rallied over 5% to Rs 1,198, bouncing back 8% from day's low on reporting a better-than-expected a 14% year-on-year (y-o-y) growth in net profit at Rs 1,877 crore for the quarter ended March 2012. Analysts on average had expected net profit at Rs 1,673 crore

The engineering and construction major earned exceptional items of Rs 227 crore included sale of investment in an associate company and partial sale of a strategic investment

"Gradual upswing in Indian economy is expected in the year 2012-13 with increasing government focus on certain sectors such as infrastructure, power, oil and gas and fertilizers which are of key importance to the company," L&T said in a filing to the stock exchanges

A model sits on a Yamaha motorbike displayed during the 9th Auto Expo in New Delhi

Japanese two-wheeler giant Yamaha today said it would set up third facility in India, entailing an investment of Rs 1,500 crore over the next five years

The company's wholly-owned subsidiary ¿ India Yamaha Motor (IYM) ¿ will start the production of this new plant near Chennai by 2014 with an initial annual capacity of 4 lakh units, which will be expanded to 18 lakh units by 2018

"India Yamaha Motor signed a Memorandum of Understanding with the government of Tamil Nadu today approving the construction and operation of a new two-wheeler factory in the state," the company said in a statement

The Yahoo! offices are pictured in Santa Monica, California

Yahoo Inc is replacing its CEO for the third time in as many years, and giving three board seats to a hedge fund led by Daniel Loeb, putting him in a strong position to influence strategy at the struggling Internet company

Chief Executive Scott Thompson stepped down on Sunday, 10 days after Loeb accused him of padding his biography by faking a computer science degree. Loeb's Third Point LLC is one of Yahoo's largest shareholders with a 5.8% stake

Thompson's departure after just four months on the job throws into question the future of Yahoo as it struggles to revive growth amid fierce competition from the likes of Google Inc and Facebook Inc, and produce a long-term strategy to convince investors to reverse its share slide

A man walks past the JP Morgan headquarters at Canary Wharf in London

JPMorgan's $2 billion-plus trading loss raises serious questions about whether the New York Federal Reserve and other regulators were asleep at the wheel or whether it is asking too much of them to keep up with the financial engineering conducted by complex institutions with diverse, global operations

Adding to a growing chorus of criticism, Democratic Senate candidate Elizabeth Warren called for JPMorgan Chief Executive Jamie Dimon to resign from the New York Fed's board of directors

JPMorgan's shares plunged 9.3% on Friday, shedding $15 billion in market value and leading a broad decline in the financial sector