WASHINGTON - The Federal Reserve's monetary stimulus is helping the U.S. economy recover but the U.S. central bank needs to see further signs of traction before taking its foot off the gas, Fed Chairman Ben Bernanke said on Wednesday.
LONDON - From ketchup to hot drinks, family-run investment firms are shaking up the consumer deals market, squeezing out private equity players and forcing them to change strategy.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.
AT&T may buy stake in Indian telecom venture: Times of India
(Reuters) - AT&T Inc (T.N) is considering buying a 25 percent stake in India's Reliance Jio Infocomm Ltd, a telecommunications venture controlled by billionaire Mukesh Ambani, for $3.5 billion, the Times of India newspaper reported.
Such a deal would represent the largest foreign direct investment in India and would value the company at $14 billion, the report said.
A spokesman for AT&T declined to comment on the report.
Ambani, who controls conglomerate Reliance Industries Ltd (RELI.NS), is India's richest man. The telecommunications venture aims to break even within three years of its launch, according to the report.
(Reporting By Susan Kelly; editing by Gunna Dickson)
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