May 20: Court orders Kanimozhi`s arrest
May 20: Court orders Kanimozhi`s arrest
Former IMF chief Dominique Strauss-Kahn listens to his lawyer, William Taylor, inside of a New York State Supreme Courthouse during a bail hearing in New York
European leaders raced on Friday to nominate a successor for fallen IMF chief Dominique Strauss-Kahn before a G8 summit in France next week, with French Finance Minister Christine Lagarde in pole position.
Strauss-Kahn will leave jail on bail on Friday and be placed under round-the-clock house arrest after being indicted for the alleged attempted rape of a New York hotel maid last Saturday. He denies the charges and has vowed to prove his innocence.
German Chancellor Angela Merkel all but endorsed Lagarde on Friday, telling a Berlin news conference: "Among the names mentioned for the IMF succession is French Minister Christine Lagarde, whom I rate highly."
But diplomats said some European Union countries questioned whether the highly regarded corporate lawyer, who would be the first woman to head
Gold bars are displayed to be photographed at bullion house in Mumbai
Gold rose on Friday, helped by a soft dollar after poor US economic data this week raised prospects the Federal Reserve will keep monetary policy loose for some time to come.
Bullion has dropped about 5% since rallying to a lifetime high near $1,575 an ounce in early May, but expectations the Fed will keep monetary policy ultra-loose for a while longer could polish gold's safe haven appeal.
Spot gold traded at $1,500.49 at 4:14 pm from $1,491.60 late in New York on Thursday. Silver traded at $35.04 from $34.95, well below a record at $49.51 an ounce in April.
A couple look at Panasonic Corp's Viera TVs displayed at an electronics store in Tokyo
Panasonic Corp's president said on Friday that he sees the current financial year as an extremely tough one for the electronics giant, with the effects of the devastating March earthquake and tsunami continuing to hamper sales through September.
Fumio Ohtsubo told a group of reporters at the company's Tokyo offices there were uncertainties over the effects of power shortages in the peak summer months and that additional demand resulting from rebuilding efforts in northern Japan would be small.
"On April 28, we forecast the disaster would cut first quarter sales by several hundreds of billion yen," Ohtsubo said. "At this point we see it as less, possibly half or a third of what we thought. But the second quarter will not be much better, because of the lingering difficulties with the supply chain."
He said that, although factories in north east Japan had be
Flower grower Rahul Pawar shows a red gerbera growing in polyhouse during a tour of his property in Satara district, about 285km (177 miles) south of Mumbai
A decade ago, Rahul Pawar made an unusual and risky choice, to grow flowers in the centre of India's biggest sugar-producing state Maharashtra. Now he's reaping the rewards of his Rs 11 crore investment as increasingly affluent Indians want his bright blooms for their weddings and festivals.
"Every year we are seeing a rise in demand. People are using more and more flowers at functions like weddings," Pawar said.
'They are ready to pay for flowers like gerbera and gladioli, which are new to them,' he added, holding a fluorescent bird of paradise bloom in his weather-beaten hands.
Pawar grows orange and red gerberas under polythene in climate-controlled conditions to shield them from Maharashtra's scorching summer, when temperatures can top 48 C
The hardier birds of para
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