- 25 May 1312:30 PMThree months after Daiichi Sankyo, Japan's number three drugmaker, entered a deal in June 2008 to buy 63.9% stake in Ranbaxy from the controlling shareholder group led by brothers Malvinder Singh and Shivinder Singh for $4.2 billion, the USFDA issued11:10 AMMarkets ended lower after five weeks, owing to profit booking at higher levels. Weak corporate results from SBI and Larsen & Toubro along with global cues weighed on sentiments.05:23 AMThe US stock market's break in its recent rally this week left investors wondering if they're seeing a turning point or just a blip in the upward path.04:22 AMFrench magistrates decided on Friday not to place IMF chief Christine Lagarde under formal investigation over her role in a 285-million-euro arbitration payment made to a supporter of former president Nicolas Sarkozy.03:33 AMIndia Inc should stop looking abroad and focus on tapping huge investment opportunities within the country, especially in the infrastructure sector, which offers long-term benefits, Finance Minister P Chidambaram said today.02:42 AMA two-member team of the Justice M B Shah Commission of enquiry is embarking on a five-day visit to Odisha from Friday to authenticate the ongoing survey and demarcation work for 44 mining leases in the state.02:37 AMThe Confederation of Indian Industry (CII) on Friday said, the new government in Karnataka should work actively on development of rural infrastructure, simplification of investment procedures, development of Tier II & III cities and focusing on02:35 AMPrime Minister's Economic Advisory Council (PMEAC) Chairman C Rangarajan on Friday called for freeing ethanol and molasses from the state control in the larger interests of the farmers and sugar mills.02:20 AMLed by Ramon Magsaysay award winner Dr Sandeep Pandey and others prominent activists of the state, locals of as many as 38 villages restricted Mandla district administration to organise a public hearing on controversial Chutka nuclear power project.02:01 AMThe Centre today moved the Delhi High Court seeking contempt proceedings against telecom major Idea Cellular Ltd for "wilful and deliberate" disobedience of a judicial order by allegedly providing 3G facilities to new customers in circles where12:51 AMJet Airways shareholders today approved the sale of 24 per cent equity to Etihad Airways.12:50 AMThe crucial “closed-door meeting of the board of directors&" referred to by whistleblower Dinesh Thakur in his testimony against Ranbaxy didn’t take place at all, if one goes by Ranbaxy’s official filings.12:48 AMCellphone image via Shutterstock The Telecom Regulatory Authority of India (Trai) issued a new norm on Friday, of a five paise termination charge on each transactional short message service (SMS) and two paise on each normal SMS, on the operators12:46 AMThe Karnataka High Court today finally cleared the way for Vijay Mallya to go ahead with the Rs 11,160-crore deal with global spirits major Diageo.12:38 AMThe Sensex snapped a four-day losing streak to edge higher today, rebounding as Tata Steel surged after its March-quarter operating profit beat analyst estimates and as recently beaten-down blue-chips such as Larsen & Toubro recovered.12:36 AMThe rupee completed a third weekly decline after the US Federal Reserve indicated it might slow the pace of debt purchases, fuelling concern on fund flows to emerging markets. Bonds gained for an eighth week.12:28 AMActivist investor Carl Icahn and Southeastern Asset Management have initiated talks with banks and asset managers to line up commitments for as much as $7 billion in bridge loans to back their leveraged recapitalisation proposal for Dell, banking sources12:27 AMArt-critic bashing isn't a new blood sport, so it should come as no surprise that it continues to draw blood. At Art Basel's debut outing in Hong Kong, there's a session on the relevance of art critics and their influence on the art market.12:22 AMIn 2000, Germany was the sick man of Europe. Not only was the economy stumbling, but the national football team was knocked out of the European Championship without winning a single game.12:11 AMFollowing its peers, Wockhardt and Ranbaxy, Sun Pharma shares fell more than three per cent on BSE after its Israeli unit, Taro Pharmaceuticals, posted a lower-than-expected net profit in the January-March quarter.