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India pitches for Fitch upgrade after S&P blow
<p><a href="http://news.yahoo.com/india-tells-fitch-portfolio-inflows-fdi-remain-strong-090920169--business.html"><img src="http://l3.yimg.com/bt/api/res/1.2/6W2pnk5G1D8IfQmhe_TGaw--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2012-05-17T090920Z_1_CDEE84G0PFO00_RTROPTP_2_INDIA-STOCKS.JPG" width="130" height="86" alt="An employee uses an electronic machine to check an Indian currency note inside a bank in Allahabad" align="left" title="An employee uses an electronic machine to check an Indian currency note inside a bank in Allahabad" border="0" /></a>NEW DELHI (Reuters) - India's economic growth story is intact and the current account deficit under control, senior Finance Ministry officials told a team from global ratings agency Fitch on Thursday, weeks after S&P cut its outlook for Asia's third largest economy. The visit came as the rupee tumbled to a record low against the dollar, with the crisis in the euro zone adding pressure on a currency already under fire from weak current account and fiscal deficits. ...</p><br clear="all"/>
Pinterest funding could value startup at $1.5 billion
(Reuters) - Social networking site Pinterest has raised $100 million from a group of investors led by Japanese online retailing giant Rakuten Inc in a deal that reportedly values the three-year-old U.S. company at $1.5 billion. Rakuten said it was joined in the capital-raising by existing shareholders Andreessen Horowitz, Bessemer Venture Partners, FirstMark Capital and a number of angel investors. The new round of financing values Pinterest — one of Silicon Valley's fastest growing startups — at $1.5 billion, up sharply from $200 million late last year, Wall Street Journal said. ...
Spain's Bankia shares fall 26 percent
MADRID (Reuters) - Shares in troubled Spanish lender Bankia fell a further 26 percent on Thursday, compounding a week of heavy losses that has seen the stock lose around two thirds of its value from a July stock listing. The Spanish stock market regulator classed the shares "under auction" -- a procedure that kicks in when there is a particularly large order to buy or sell a stock and big mismatches betweeen bids and offers. (Reporting By Sonya Dowsett; Editing by Tracy Rucinski)
Obama wants tough rules after JPMorgan loss: report
<p><a href="http://news.yahoo.com/obama-wants-tough-rules-jpmorgan-loss-report-044450939--sector.html"><img src="http://l.yimg.com/bt/api/res/1.2/hj6lBXzFqi1ZHeVA1fMmag--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2012-05-17T095851Z_1_CBRE84G0RQ600_RTROPTP_2_JPMORGAN.JPG" width="130" height="86" alt="The JP Morgan Chase & Co. headquarters is pictured in New York" align="left" title="The JP Morgan Chase & Co. headquarters is pictured in New York" border="0" /></a>WASHINGTON (Reuters) - The White House, following a trading loss of more than $2 billion by JPMorgan, wants to ensure a tough interpretation of a regulation aimed at preventing banks from making bets with their own money, The Wall Street Journal reported on Wednesday. Citing people familiar with the matter, the report said White House officials have stepped up talks with the Treasury Department in the several days since the staggering loss was disclosed by the bank. The discussions, according to the report, represent the first tangible political impact from the trading debacle. ...</p><br clear="all"/>
Asian start-ups gain as Facebook's Saverin looks East
<p><a href="http://news.yahoo.com/asian-start-ups-gain-facebooks-saverin-looks-east-061007127.html"><img src="http://l2.yimg.com/bt/api/res/1.2/0gZzVjP4eYvFjjveW0tkMA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/AFP/photo_1337234867176-1-0.jpg" width="130" height="86" alt="Facebook's co-founder Eduardo Saverin is keeping a low profile in Singapore" align="left" title="Facebook's co-founder Eduardo Saverin is keeping a low profile in Singapore" border="0" /></a>Far from the Wall Street limelight, Facebook's co-founder Eduardo Saverin is keeping a low profile in Singapore, investing his wealth in tech start-ups while enjoying a life of luxury.</p><br clear="all"/>
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