Business News - Page 14
Indian, French companies pledge £1.3 bn for UK clean energy and battery projects
Indian and French companies have pledged more than £1.3 billion in investments for UK clean energy, battery storage and advanced manufacturing projects, as Prime Ministers Narendra Modi and Keir Starmer push for deeper economic cooperation on the sidelines of the G7 Summit
US-Iran deal reportedly outlines $300 bn private investment fund; Trump says no US money involved
A proposed $300 billion private investment fund has reportedly been included in the US-Iran peace framework to support economic development in Iran, while President Donald Trump has denied that any US government money will be used for the initiative
Japan exports rise for ninth straight month as chip demand offsets West Asia disruptions
Japan’s exports grew 17 per cent in May, surpassing forecasts and marking a ninth straight month of expansion as strong semiconductor demand offset disruptions caused by the recent conflict in West Asia
US to immediately allow Iranian oil sales under deal to end conflict
The United States will immediately allow Iran to resume oil sales under a conflict-ending agreement expected to be signed this week, with sanctions relief tied to Tehran's compliance with nuclear and maritime commitments
SpaceX tops Amazon in market value, briefly overtakes Microsoft
SpaceX surpassed Amazon in market value and briefly overtook Microsoft on Tuesday as a surge in options trading and investor enthusiasm pushed the Elon Musk-led company’s valuation to $2.65 trillion
Air India to pilot ‘no-meals’ Economy Basic fare on select sectors amid rising costs
Air India is framing this change as a pro-consumer approach, offering cheaper fares for budget-conscious travellers without impacting those who wish to maintain the traditional full-service experience
A $220-million blow as US Supreme Court shuns TCS: What happened?
Tata Consultancy Services faces a $220 million hit after the US Supreme Court refused to hear its appeal in a trade-secrets dispute with DXC Technology. The ruling ends a seven-year legal battle over life-insurance software and revives attention on TCS’s history of intellectual-property litigation in America
‘All speculation’: India not ‘currently’ pursuing Gujarat–Oman deep-sea energy pipeline, says govt
The government has clarified that India is not currently pursuing a deep-sea energy pipeline between Gujarat and Oman, dismissing media reports as speculation amid renewed debate on West Asia’s energy security and maritime risks
‘Built stitch by stitch, lost overnight’: Turkish aviation giant recounts losing India business during Op Sindoor
A year after India revoked Celebi's security clearance following Operation Sindoor, chairperson Canan Celebioglu says the Turkish aviation company lost nearly $500 million in business value and 17 years of work overnight
Nikkei tops 70,000 for first time as BOJ rate hike boosts confidence in Japan's economy
Japan's Nikkei index tops 70,000 for the first time after the Bank of Japan raised interest rates to 1 per cent and signalled a gradual approach to further policy tightening
Japan raises rates to highest since 1995 as BOJ steps up battle against inflation
Japan's central bank raises interest rates to 1 per cent, the highest since 1995, as the BOJ intensifies its fight against inflation driven by higher energy costs and a weak yen
China’s retail sales fall for first time since 2022 as domestic demand weakens
China's retail sales contracted for the first time since 2022 in May, highlighting weak consumer demand despite stronger industrial output, robust exports and easing unemployment
Apollo Hospitals taps Shobana Kamineni to lead Apollo Healthtech ahead of planned listing
Apollo Hospitals plans to appoint Shobana Kamineni as Executive Chairperson of Apollo Healthtech as the healthcare giant advances the demerger and planned listing of its digital health and pharmacy businesses
SpaceX rally adds $165 billion to Musk fortune, pushing net worth to record $1.3 trillion
A nearly 20 per cent jump in SpaceX shares added $165 billion to Elon Musk's wealth in a single day, lifting his net worth to an unprecedented $1.3 trillion after the company's blockbuster IPO
America's oil safety net is shrinking fast — reserve falls to lowest level since 1983
America's Strategic Petroleum Reserve has fallen to its lowest level since 1983 after massive wartime drawdowns aimed at curbing fuel prices, raising fresh questions about the country's energy security buffer
US gasoline falls below $4 a gallon, boosts Trump ahead of midterms
US gasoline prices have fallen below $4 a gallon for the first time since April as optimism over a US-Iran peace deal pushes oil prices lower, offering relief to consumers and a potential political boost to President Donald Trump ahead of the midterm elections
India raises diesel, jet fuel export taxes as elevated energy prices persist; petrol duty unchanged
India has raised windfall taxes on diesel and aviation turbine fuel exports for the next fortnight beginning June 16, while keeping the export duty on petrol unchanged, as elevated global energy prices continue to pressure fuel markets.
Trump touts peace in West Asia: How much did Iran war cost the world?
As US President Donald Trump highlights his push for peace in West Asia, estimates show the Iran conflict has already delivered a massive economic blow — disrupting energy markets, trade routes and global growth.
India’s unemployment inches up to 5.5% in May as rural job market weakens
Government data released on Monday showed India’s unemployment rate rose from 5.2 per cent in April to 5.5 per cent in May, led by an increase in rural joblessness. Urban unemployment, however, witnessed a marginal improvement during the month.
India posts record $45.2 billion exports in May, trade gap narrows to $28.21 billion
India’s merchandise exports surged to a record $45.20 billion in May, helping narrow the trade deficit to $28.21 billion even as imports remained elevated due to higher energy costs.
Banks rush to hire million-dollar AI chiefs — even as experts predict the role's demise
Banks are paying up to $3.5 million to hire chief AI officers as the race to adopt artificial intelligence intensifies, but industry leaders say the role could eventually disappear as AI becomes embedded across all business functions
Capital gains tax relief for G-Secs not end of story, more foreign capital needed: FM Sitharaman
Finance Minister Nirmala Sitharaman says the Centre and RBI are exploring further measures to strengthen India’s bond market while closely monitoring crude supply risks, inflation pressures and global uncertainties.
Fuel inflation tops 30%, pushes wholesale inflation to 9.68% in May
India's wholesale inflation rose to 9.68 per cent in May from 8.30 per cent in April, driven by higher fuel, food and manufacturing costs, marking the first reading under the revised WPI series with 2022-23 as the base year
Fed’s biggest shake-up in years? Kevin Warsh may end era of ‘rate hints’ as markets brace for June 17 decision
The Federal Reserve is widely expected to keep interest rates unchanged, but new Chair Kevin Warsh’s possible move away from forward guidance and the dot plot could reshape how global markets read US monetary policy.
China, Indonesia fight over nickel control — $50 billion investment pipeline at risk
China has warned that up to $50 billion in investments in Indonesia's nickel sector could be at risk as Jakarta tightens control over the strategic industry through new regulations, quotas and export oversight measures
Noida Jewar Airport operations begin: All you need to know
IndiGo's Lucknow-Jewar flight becomes the first scheduled passenger service at Noida International Airport as commercial operations officially commence; here is what travellers need to know about routes, airlines, connectivity and future expansion plans
Razorpay files confidential IPO papers with SEBI; issue may raise up to $600 million
Fintech unicorn Razorpay has confidentially filed draft IPO papers with SEBI, paving the way for a public listing that could raise between $500 million and $600 million
Sensex jumps over 1,100 points, Nifty nears 24,000 as US-Iran peace deal sparks global rally
Indian stock markets surged in early trade on Monday, with the Sensex gaining more than 1,100 points and the Nifty nearing 24,000, as a reported US-Iran peace breakthrough triggered a global rally and pushed oil prices sharply lower
Weeks, not days: Hormuz reopening unlikely to restore oil flows immediately
The proposed reopening of the Strait of Hormuz under a US-Iran agreement may ease immediate fears of a global energy crisis, but analysts warn that clearing a backlog of around 500 stranded ships and restoring normal oil flows could take weeks, keeping supply risks elevated
Grain prices fall as US-Iran deal revives Hormuz route, eases food inflation fears
Global grain prices fell after the United States and Iran agreed to reopen the Strait of Hormuz, easing concerns over fertiliser and fuel costs, lowering food inflation risks and triggering a broader decline across commodity markets