World News Update

Here is the world news digest from Bloomberg.com.President Barack Obama signaled that he would toughen restrictions on and oversight of banks as part of a fresh plan to aid the battered industry.
Obama blasted the banks yesterday over reports that they’ve spent money renovating offices after receiving billions of dollars from the government and vowed they would be held accountable for any aid they receive in the future.
The tough talk seemed designed to build support for a rescue plan that aides say Obama will roll out soon by reassuring lawmakers and voters that the administration will keep close tabs on money it hands out. Pressure for a plan is building after the Standard & Poor’s 500 Index fell for the third straight week, in part because of concerns about the health of the banks.

India's Prime Minister Manmohan Singh will undergo heart bypass surgery here for a second time as the ruling Congress party prepares for elections that must be held by May and the government battles an economic slump.
Singh, 76, will have the operation today at New Delhi’s All India Institute of Medical Sciences, the government said in a statement yesterday.
Singh’s heart problems may complicate election preparations and his government’s efforts to strengthen security following last November’s terrorist attacks in Mumbai that killed 164 people. He replaced the home minister after the assault and established a new federal agency to coordinate counter terrorism.
“The prime minister’s absence will definitely have some impact on the campaign,” said N.R. Bhanumurthy, an economist at the Institute for Economic Growth in New Delhi. “The Congress party would have banked upon him to sell their successes.”
Foreign Minister Pranab Mukherjee will deputize for Singh in his absence, NDTV 24x7 reported, citing officials it didn’t name. Mukherjee said that he planned to visit with Singh and had already met Congress party leader Sonia Gandhi, without elaborating.
“These are normal, routine things, the government is in place,” Mukherjee told reporters in New Delhi today, when he was asked about officiating as acting prime minister.