Sun Pharmaceutical Industries announced that it has bagged nod from the US health watchdog to market its generic edition of Astelin, utilized in addressing nasal allergies, in the US market.

The pharma giant has got authorization from the USFDA for its generic Azelastine HCL nasal spray that

is therapeutically equivalent to Medpointe Pharm HLC's Astelin nasal spray.

The company has obtained authorization to sell its product in the potency of 0.1% (137 mcg/spray).

With the effort to lead 4G data services, India's biggest telecommunication operator Bharti Airtel has inked a deal to get hold of 49 per cent equity stake in Qualcomm Asia Pacific's BWA biz in the Indian market for around $165 million (Rs 922 crore).

As per the contract, Airtel will get permissions to provide 4G data services in four different circles that consists of Delhi, Mumbai, Haryana and Kerala.

The issues surrounding the initial public offering of social networking giant, Facebook must be reviewed, according to two senior U. S. financial regulators.

The calls for a review have put additional pressure on Mark Zuckerberg-led company, Morgan Stanley, which is its lead underwriter and the Nasdaq stock exchange. The shares of the company closed after falling 8.9 percent to at $31, following an 11 percent fall on Monday.

The Brooklyn district attorney, Charles J. Hynes is setting up a team of investigators to probe the alleged intimidation of witnesses in the child abuse cases within Brooklyn's ultra-Orthodox Jewish community.

Mr. Hynes has said that he was asking the panel to find out ways to break down the intimidation of witnesses. He also criticized some elements in the ultra-Orthodox Jewish community for the treatment of the victims of sexual abuse.

Drug companies Aurobindo Pharma, Sun Pharma and Dr Reddy's Laboratories have bagged US health watchdog's sanction to market generic Plavix, utilized in treating heart illnesses, in the US market.

Dr Reddy's stated that it has rolled out clopidogrel tabs in US after bagging nod from the USFDA.

Clopidogrel pills are the generic edition of Sanofi Aventis' Plavix tabs.

Taiwan's HTC Corp has said that it is delaying the launch of tow of its smartphones in the US market as it requires a customs review as it lost a a patent lawsuit against Apple in the previous year.

The delay is likely to further affect the sales of the company, which is already seeing a fall in the country. Apple had won a court battle against the company in a patent lawsuit in December over technology in the smartphones. This required the company to get customs review before it launched the handsets in the Us market.

Carlos Pascual, the State Department's special envoy for international energy issues was reportedly misquoted by a reporting agency about the reduction in India's import of crude oil from Iran.

It was earlier reported that Pascual remarked that he was `not too impressed' with the India's efforts to cut its imports of oil from Iran. However, State department spokesperson Victoria Nuland clarified that he actually said that 'I am not doing press today' and not 'I am not impressed', as reported in the news.

Washington, May 15 : Embattled Internet firm Yahoo has announced that it would not give former Chief Executive Scott Thompson a severance package following his short tenure with the company.

The firm disclosed in a regulatory filing on Monday that it isn''t paying Thompson anything more.

Thompson recently resigned after a controversy over a fake computer science college degree on his biography broke out.

The much anticipated Initial Public Offer (IPO) of social networking giant, Facebook is set to open on Friday when the company's shares will be sold for the first time ever on the Nasdaq Stock Market.

Facebook's CEO Mark Zuckerberg and his energetic team are on a cross-country road show aimed to promoting the social network's IPO, which could value the company at about $100 billion, a valuation that would make Facebook worth as much as Disney, Ford and Kraft Foods.

Scott Thompson, who was appointed as the head of the company in January, has announced his decision to step down as the Chief Executive Officer (CEO) of internet major, Yahoo Inc.

Thompson agreed to step down over the weekend amid growing calls for him to step down over an inaccuracy in his educational credentials, which were published repeatedly over the years. The board found evidence that contradicted his claim of innocence over the matter and this made him step down from his position, according to people closer to the matter.

The United States has asked the World Trade Organization (WTO) to act upon India's ban on import of US poultry meat and chicken eggs alleging that the ban is against WTO obligations of the country.

The US representatives have asked the WTO to set up a dispute settlement panel to address the matter. According to US Trade Representative (USTR) Ron Kirk, the US sent its request to the WTO on Monday after discussions with the Indian representatives failed to address US concerns.

According to a new report, more than 16.8 lakh children below the age of five years lost their lives due to infections that was preventable in the country during 2010.

The study was also found that more than half of the children could not complete even the first month of their lives. It said that 52 per cent or about 0.875 million children died in the first 28 days of their life. Pneumonia was among the highest affecting infection accounting for 28.6 per cent of all deaths in children under five.

Cognizant Technology Solutions has lifted up its realty infrastructure expansion in the Indian market by around $200 million.

The US-based tech firm, which has large offshore attendance in the Indian market, has reviewed its investment proposal to a total of $700 million in realty from 2011 through 2015.

This is to swell its campuses in the country by an extra 10.5 million sq ft.

An analyst in the IT sector has said that the low demand by American and European companies and focus of Indian service providers on the US and European markets have resulted in the slowdown in the Indian IT industry in the previous financial year till March 2012.

Kumar Parakala, head of IT advisory at KPMG India said that the India It firms focused on traditional US and European markets and failed to explore emerging markets like China to fill the gap in demand. A series of Indian IT firms have missed quarterly targets and the year has been a difficult one for the industry.

"These IT firms are still growing though it may not be at the rates they promised some time ago," said Kumar.

Internet giant, Google has received an approval for its driverless car and tests will be carried out in the roads of Nevada in the US.

The authorities in Nevada gave its approval to Google's license to test a driverless Toyota Prius on the roads in the state. The Nevada Department of Motor Vehicles, which approval the license, said that it is the first of its kind approval given in the country under the new laws and regulations.

According to regulatory filing, Facebook is aiming for a market value of as much as $96 billion and is offering shares at $28 to $35 each for its initial public offering (IPO).

Facebook is expecting investors to pay 99 times earnings for its (IPO). The Menlo Park, California-based company is expecting to meet investors next week and will price the offering on May 17. At the higher proposed valuation, the company will be valued higher than many firms in the S&P 500.

Japan's second-largest social-network game operator, Gree has agreed to buy Funzio for a sum of about $210 million in cash in its largest acquisition deal ever.

The acquisition, which is expected to close this month, will allow the company to add games for mobile phones, according to a statement from Tokyo- based Gree. The company will fund the purchase of Funzio through bank loans, according to the company.

A new study has found that a compound in garlic is about 100 times more effecting is fighting a type of bacteria called, Campylobacter that causes food poisoning than some of the antibiotics used by doctors.

Campylobacter is usually found on the surface of poultry and inside the flesh and the cases of food poising have been rising. The compound in garlic was found to be 100 times more effecting in fighting campylobacter than two of the antibiotics.

The new US ambassador to India, Nancy Powell has said that India and the US are set to sign an additional $8 billion deal for direct commercial and foreign military sales as India merged one of the leading importers of defense equipment from the country.

She pointed out that the defense relationship between the two countries has grown at the fastest rate in Asia pacific region. "With the C-17 and C-130J sale, we have more than doubled our total foreign military sales and posted sales making India the third largest FMS market for 2011,"' she said. Powell was speaking at the 20th annual general meeting of the American Chamber of Commerce.

US online retail giant, Amazon has said that its Kindle Fire tablet computer has been the best selling item on the online ecommerce website.

The company recorded higher than expected first-quarter profits on Thursday as the high tablet sales helped boost revenues from digital movies and books. Amazon chief financial officer Tom Szkutak said that the media sales increased in the quarter in the North American market manly due to high sales of its Kindle Fire tablet computer, which was sold exclusively in the US market.