1. Yahoo appointed Ross Levinsohn as interim CEO and Fred Amoroso as chairman of its board as CEO Scott Thompson has left the company.
2. Commerce Secretary Rahul Khullar has been appointed as the new chairman of the Telecom Regulatory Authority of India (TRAI) for a 3 year term.
3. Global credit rating major Moody’s has cut its rating for state-run Life Insurance Corp of India (LIC) to Baa3 from earlier rating of Baa2 with a stable outlook.
NOTE:- The main reason behind this cut was its high exposure in India’s sovereign debt and almost negligible source of income from outside of India.
4. Govt today allowed free export of sugar, a move that will help industry ship surplus sweetener and clear cane payment arrears to farmers that have mounted to over Rs 10,000 crore.
5. Grandmaster Parimarjan Negi won the Asian chess championship at the Ho Chi Minh City, Vietnam beating Yu Yangyi of China.
6. Inflation moved up to 7.23 per cent in April compared to last year 9.74 per cent on account of spurt in prices of vegetables, meat, milk and pulses. NOTE: - Inflation, is measured by the Wholesale Price Index in India.  
7. 6 Gulf Arab nations met in Riyadh today to discuss the proposal of Setting up of a Gulf Union.
8. 33rd Gulf Cooperation Council (GCC) summit will take place tomorrow in Bahrain.
9. Manchester City won their first English league title in 44 years  after beating Queens Park Rangers by 3-2 in the final match.
10. Finance Minister Pranab Mukherjee today denied any delay by the Foreign Investment Promotion Board (FIPB) in granting clearance to the telecom deal between Aircel-Maxis. 
11. 2 day talks between Iran and the International Atomic Energy Agency over Teheran’s controversial nuclear program began in Vienna today. 
NOTE:- Chief UN Nuclear Inspector Herman Nackaerts is heading the IAEA team while the Iranian side is led by its top nuclear negotiator Saeed Jalili.
12. Roger Federer won the Madrid Open Title by defeating Czech Tomas Berdych in the men's singles final. 
NOTE:- By winning Madrid Open Title  Swiss star Roger Federer equaled Rafa Nadal's record of 20 Masters titles. 
13. Planning Commission today finalized the annual Plan of  Rs. 14,000 crore for Punjab for the year 2012-13.
14. Uttarakhand Chief Minister Vijay Bahuguna today announced 50 per cent reservation for women in Van Panchayat Sarpanch posts and made several other announcements for strengthening the Van Panchayats at a Van Panchayat Workshop held in Dehradun today. 
15. India's L Sarita Devi (60kg) enters the pre-quarterfinals of the seventh World Women's Boxing Championships in Qinhuangdao, China after defeating Gulsum of Turkey.
16. 13 Indian pilgrims were among 15 people killed when a Dornier aircraft belonging to the Agni Air crashed in northern Nepal after hitting a hill top while trying to land at high-altitude Jomsom airport today.