

| GS | 68.95 |
Leaders of the new alliance did not immediately outline the steps they planned to take to oppose the government.
At a meeting of the alliance Wednesday, Mayawati, India's most powerful low-caste politician who goes by just one name, accused the government of "murdering democracy."
Singh and his Congress party had fought hard to secure their victory in the confidence vote, and appeared to cut back-room deals when all else failed. An airport was named after one lawmaker's father, another was promised a high-level job and--rival politicians allege--many others received millions of dollars in bribes.
At one point, legislators from the Hindu-nationalist Bharatiya Janata Party pulled large bundles of cash out of bags they said contained tens of millions of rupees (hundreds of thousands of dollars), alleging Congress and its allies had tried to bribe them to abstain.
Authorities have promised an investigation into the charges.
With the communists out of the way, Finance Minister Palaniappan Chidambaram said the government would press ahead with long-stalled plans that could include loosening India's restrictive labor laws and further opening its financial sectors.
However, Tushar Poddar, an analyst at Goldman Sachs, noted the government has only 10 months to go before the end of its term. He said it would be hampered by its fear of alienating voters who are already contending with sharply rising food and fuel prices.
"Sweeping reforms are not on the agenda," Poddar said.
U.S. stocks fell on Wednesday after signs of weakening employment and a contraction in service industries overcame earlier gains in the trading s...
China markets opened lower on Tuesday morning as the investors' confidence hit by the signals that global recession are deepening.
The markets have spoken: risk aversion is still the name of the game and that was obvious since the beginning of the week.


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