Financial Express - India's leading business newspaper from the Indian Express Group

Dow Jones in bear hands, crumbles 265 pts

Blue-chip stocks fell sharply on Friday, led by financial issues, largely because investors feared that rising interest rates were hurting profits. However, bonds rallied on news of a slowdown in US home building.

LIC, GIC to be given a year's time to adopt global accounting norms

Government-owned insurance companies, Life Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC) will be given about one year's time to adopt the new international insurance accounting standards.

Microsoft warns lack of legal relief may hurt stock

Microsoft Corp warned on Friday there could be a material impact on its stock if it does not get sufficient legal relief through a stay of a court order to split the company, or a successful appeal.

Dad's day out

Apparently the idea for creating a day for children to honour their fathers began in Washington. According to the website jaldi.com, Sonora Smart Dodd thought of the idea while she listened to a Mother's Day sermon in 1909 and decided to have a Father's Day too.