May 9: AI may move court against strike

May 9: AI may move court against strike

A police officer displays seized Parvon Spas capsules, a type of analgesic and anti-spasmodic, in Jammu

India's main drug regulator has not been properly scrutinising some drugs before approving them, and some of its officials are colluding with drug firms and medical experts to circumvent procedure, according to a new parliamentary report

The report by parliament's health committee, the result of a more than year-long investigation, painted a chaotic picture of the Central Drugs Standard Control Organisation (CDSCO), which oversees the licensing, marketing and trials of drugs in India

It recommended that the government re-examine certain drugs that had been approved, investigate the "gross violation" of Indian laws it had uncovered, and take action against officials alleged to have colluded with the drug companies

A man looks at Toyota Motor's vehicle displayed at the company showroom in Tokyo

Toyota Motor Corp, Japan's top automaker, said quarterly operating profit jumped more than five-fold to $3 billion and would treble in the current year as vehicle production roars back from post-disaster lows

January-March operating profit increased to 238.5 billion yen beating a consensus estimate of 223 billion yen in a survey of 23 analysts. Fourth-quarter net profit jumped to 121 billion yen from 25.4 billion yen a year ago

Gold biscuits are displayed inside a jewellery showroom in Hyderabad

Gold dropped to a four-month low on Wednesday, pressured by a weaker euro as investors fretted about the political upheavals in Greece that threaten to sink the country into chaos and endanger the euro zone's efforts to end the debt crisis

The leftwing leader who was mandated to form a government in Greece has so far failed to do so after Sunday's election, as his opposition to a bailout deal seen crucial for the economy alienated mainstream parties and shook market confidence that the euro zone will pull itself out of the debt crisis

Traders work on the floor of the New York Stock Exchange early in the trading session in New York

U.S. stocks ended lower on Tuesday after political developments in Greece fanned concerns about Europe's fiscal health, but a late rally helped indexes cut losses to close well above lows

Stocks spent most of the session sharply lower, with selling following declines in European markets. Fears that Greece will reject an existing international bailout and potentially leave the euro prompted the selling across markets

The S&P 500 fell through support at 1,350 to reach levels not seen since early March, but buyers emerged to support stocks