Values

SoftBank-led group in talks to buy stake in Micromax - sources

MUMBAI (Reuters) - A group of investors led by Japanese mobile telecom firm SoftBank Corp is in talks to buy a 20 percent stake in handset maker Micromax Informatics for up to $1 billion, two people aware of the discussions said. The investment would value Micromax, an unlisted provider of affordable smartphones that competes with South Korea's Samsung Electronics Co, at around $5 billion, the people said. They did not want to be named because the talks aren't public

Before close election, UK's Cameron says got some things wrong, but got economy right

LONDON (Reuters) - British Prime Minister David Cameron on Thursday conceded he'd made mistakes during his five years in power during a special pre-election interview, but implored voters to give him a second term to finish the job of rebuilding the economy. Opinion polls indicate neither Cameron's Conservatives nor the opposition Labour Party will win an overall majority on May 7 as millions of voters turn to Nigel Farage's anti-EU UKIP party and the separatist Scottish National Party (SNP)

Facebook talks up need for virtual reality, big tech bets

SAN FRANCISCO (Reuters) - Virtual reality, artificial intelligence and drones will enable Facebook Inc ( FB.O ) to create a more lifelike and useful social network, the company said in its clearest explanation so far for technology projects that have puzzled some investors and analysts.

Facebook talks up need for virtual reality, big tech bets

SAN FRANCISCO (Reuters) - Virtual reality, artificial intelligence and drones will enable Facebook Inc ( FB.O ) to create a more lifelike and useful social network, the company said in its clearest explanation so far for technology projects that have puzzled some investors and analysts. Facebook executives made the case on Thursday, at its annual developer conference in San Francisco, that initiatives such as its $2 billion purchase of virtual reality headset maker Oculus last year, and the hiring of aerospace experts make sense for the 1.4-billion member social network.

Co-pilot suspected of deliberately crashing Germanwings jet

PARIS/SEYNE-LES-ALPES (Reuters) - A young German co-pilot barricaded himself alone in the cockpit of Germanwings flight 9525 and apparently set it on course to crash into an Alpine mountain, killing all 150 people on board including himself, French prosecutors said on Thursday. They offered no motive for why Andreas Lubitz, 27, would take the controls of the Airbus A320, lock the captain out of the cockpit and deliberately set it veering down from cruising altitude at 3,000 feet per minute

SH Kelkar files prospectus for IPO, seen at around $100 mln

MUMBAI (Reuters) - Fragrance maker S.H. Kelkar and Company, partly owned by Blackstone Group, has filed a draft prospectus with the regulator for an initial public offering that a banker directly involved in the process said would fetch around $100 million

New pandemic insurance to prevent crises through early payouts

LONDON (Thomson Reuters Foundation) - In the wake of the Ebola crisis, a quiet revolution is taking place that is set to transform the way governments and aid agencies respond to major disease outbreaks. Analysts are developing insurance schemes that could turn the humanitarian system on its head, by paying out money as soon as a disease breaks out to stop it becoming an international crisis, rather than trying to raise funds after the event. The World Bank, the African Union, a consortium of aid agencies and experts in the private sector are starting to do the sums and figure out what such schemes could look like

Wall Street lower in wake of air strikes on Yemen

NEW YORK (Reuters) - U.S. stocks fell at the open on Thursday to put the S&P 500 on track for a fourth straight decline, after Saudi Arabia and its allies launched air strikes on Yemen. Oil prices spiked, with Brent crude up 2.4 percent to $57.86 and U.S

Iraq special forces advance in Tikrit, U.S. coalition joins fight

BAGHDAD (Reuters) - Iraqi special forces advanced on central Tikrit on Thursday as U.S.-led coalition planes joined the largest offensive yet against Islamic State militants holding out in Saddam Hussein's home city. Coalition jets launched their first air strikes against Islamic State targets in Tikrit on Wednesday, coming off the sidelines to aid Iraqi forces against the Sunni Islamist militants. Underlying the complex web of loyalties behind the conflict, a senior U.S

Oil up after Saudi air strikes in Yemen; dollar limits gains

NEW YORK (Reuters) - Oil prices rallied for a second straight day on Thursday after Saudi Arabia and its Gulf Arab allies began air strikes in Yemen, sparking fears of a bigger Middle East battle that could disrupt world crude supplies. The military operation against Houthi rebels, who have driven the president from Yemen's capital Sanaa, has not yet affected oil facilities of major Gulf producers. But fears the conflict could spread has stoked concerns about the security of Middle East shipments, even as analysts and commentators doubt the probability of an all-out war amid continued signs of crude oversupply.