Rebekah Brooks resignes from her Office.

London, July,15:After a scandal over phone hacking hit the company and News Corp's  the Chief Executive of News International  Rebekah Brooks has resigned.

Saudi Prince Alwaleed bin Talal,is the largest shareholder in News Corp after the media king Murdoch.

Rebekah Brooks, who put the foundation of News International as a secretary before editing the News of the World and The Sun, sent an email to News International today announcing her resignation from the house.

“As chief executive of the company, I feel a deep sense of responsibility for the people we have hurt and I want to reiterate how sorry I am for what we now know to have taken place,” she wrote.

“I have believed that the right and responsible action has been to lead us through the heat of the crisis. However my desire to remain on the bridge has made me a focal point of the debate."

“This is now detracting attention from all our honest endeavors to fix the problems of the past. Therefore I have given Rupert and James Murdoch my resignation. While it has been a subject of discussion, this time my resignation has been accepted."

Rebekah Brooks earlier offered to resign after few details of phone hacking of murdered schoolgirl Milly Dowler and victims of the July 7 terrorist bombings sparked in media.

She also praised the Rupert’s wisdom, kindness and thanks him for his incisive advice in her career. She wrote. "I would like to thank them both for their support.”

Vikram Pandit led Citigroup Profit Surged in the Second Quarter

New York, July, 15:Vikram Pandit led Citigroup profits surged in the second quarter, it beats Wall Street estimates by significant margin and sending shares of  higher in pree market.

Citigroup's Q2 net income rose 22 % to $3.3 billion as the bank lost less money in the form of bad loans. Earnings per share reported $1.09, topping the marker expectation of 96 cents a share. In the previous year, Citigroup earned 90 cents a share. Shares of Citi gained 3 % in premarket trading.

Financial service segment reported $16.3 billion in revenue, slightly lower than the last year due to a revenue drop at Citi Holdings, the unit focused to ridding the company of its toxic assets.

According to Thomson Reuters, analysts expected Citigroup to earn 96 cents a share on revenue of $1.98 billion.

It was the sixth straight quarterly profit for Citigroup, which needed $45 billion in U.S. bailouts to survive amid financial crisis that forced the end of lehman Brother.

Profit growth for the Citigroup has come mainly from the bank less provisioning to cover bad loans, which is not a source of profits long term.

Since December 2010, when the U.S. government sold off the last of its common share stake in Citigroup, Chief Executive Vikram Pandit has been trying to show investors that the bank can move beyond recovery to growth.

"Citi achieved another solid quarter of operating performance as we continue to execute our strategy," Pandit said in a statement.

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Sucessful Launch PSLV 17 Placed GSAT-12 in Orbit

Sriharikota, July, 15: Indian Space Research Organization (ISRO) has used the most powerful configuration of its rocket PSLV to launch a communication satellite from Sriharikota today for Rs 200 crore missions. 

Polar Satellite Launch Vehicle (PSLV-C17) which is carrying India's communication satellite GSAT-12 has launched successfully from  Satish Dhawan Space Centre, Sriharikota.

GSAT-12 is a powerful Communication satellite with a mass of 1410 kg at lift-off, has 12 Extended C-band transponders. PSLV-C17 has injected GSAT-12 into an elliptical Transfer Orbit (Sub-GTO) of 284 km perigee and 21,000 km apogee. The powerful Liquid Apogee Motor of the satellite will help to achieve both apogee and perigee of the Satellite to place it in a circular orbit of 36,000 km altitude.

Earlier all the four stages of the launch vehicle have been fully assembled at the Vehicle Assembly Building at Shriharikota.

GSAT-12 satellite has undergone necessary testing at Shriharikota before commencing the filling of propellants in the Satellite on June 28, 2011. On July 3, 2011, GSAT-12 Satellite is integrated with PSLV-C17 vehicle at the Vehicle Assembly Building, after clearance by the Launch Authorization Board.

On July 10, 2011, PSLV-C17 Vehicle has moved from the Vehicle Assembly Building to the Second Launch Pad. PSLV-C17 lifted from the second launch pad today between 16:48.

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