News Wrap: TMC snaps ties with UPA; Rupee goes up

- The Trinamool Congress has formally broken all ties with the UPA government as its ministers handed over their resignations to Prime Minister Manmohan Singh. The six ministers, led by Mukul roy met Singh to submit them. While Roy is a Cabinet minister, Saugata Ray, Sisir Adhikari, Mohan Jatua, Sultan Ahmed and Sudip Bandopadhyay are ministers of state. While this was going on in Delhi, Mamata Banerjee spoke in West Bengal, saying that as long as she lives, she will live like a tigress.

We have Trinamool Congress leader Sudip Bandhopadhyay’s clip, saying that there is no credibility left in UPA govt.

- Markets rose around 450 points and the rupee rose to its highest level in over four months after the government made clear its intention to pursue further reforms. The rupee was at 53.60 against the dollar from its Thursday close of 54.38. P Chidambaram said withholding tax liability on Indian companies will be reduced to five percent. This reduced tax will apply to funds borrowed between July 2012 and June 2015, he added. The move is aimed at increasing foreign fund inflows.We have detailed analysis on the website.

- Kareena Kapoor celebrates her birthday today with the release of the much anticipated film– Heroine. We have a few shots from the making of the film in the bulletin.

- A Los Angeles judge has refused to order YouTube to take down a controversial film clip, The Innocence of Muslims. This is after actress Cindy Lee Garcia complained that she was duped into acting in the production. The clip triggered violent anti-American protests in over 20 countries, and has led to at least 28 deaths, including the killing of US ambassador to Libya Christopher Stevens.

- In sport, Brendon McCullum has scored the highest T20 international score… smashing 123 runs in just 58 balls to power New Zealand to 191 runs against Bangladesh in their World T20 match. At the time of recording, New Zealand were in a comfortable position and look likely to win. Apart from the cricket, where India take on England on Sunday… don’t forget to keep an eye on Liverpool vs Man Utd and Man City vs Arsenal in the EPL.

- And finally, While Apple fans all across Europe, Asia, Australia has been lining up outside the stores for days to get their hands on the iPhone 5, a gang of thieves in Japan decided to help themselves to the smartphones much before the launch. According to the Wall Street Journal, Osaka police said 191 of Apple’s latest must-have smartphone were stolen in the wee hours leading up to the official launch.