Top headlines: Grover accused of money laundering; Biden warns Putin

Business Standard brings you the top headlines on Wednesday

Ashneer Grover's family siphoned funds to lead lavish lifestyle: BharatPe

Since the fight between Ashneer Grover and BharatPe’s board began two months back, the company for the first officially accused the embattled founder's family and relative of misappropriating funds on Wednesday.

“The Grover family and their relatives engaged in extensive misappropriation of company funds, including, but not limited to, creating fake vendors through which they siphoned money away from the company’s account and grossly abused company expense accounts in order to enrich themselves and fund their lavish lifestyles,” said BharatPe. Read more

Putin 'has no idea what's coming': Biden sees dark endgame for Russian

US President Joe Biden on Tuesday vowed that Russia's Vladimir Putin will pay dearly over the long run even for his invasion of Ukraine, even if his military campaign succeeds in the short term.

"While he may make gains on the battlefield – he will pay a continuing high price over the long run," Biden said in his State of the Union address. Straying from the prepared text, Biden added "He has no idea what's coming." He did not elaborate. Read more

Petrol, diesel price hikes likely to restart from next week: Here's why

Petrol and diesel price hikes are likely to resume after state elections get over next week to bridge the Rs 9 a litre gap created by international oil prices soaring past $100 a barrel.

International crude oil prices shot above $110 a barrel for the first time since mid-2014 on fears that oil and gas supplies from energy giant Russia could be disrupted, either by the conflict in Ukraine or retaliatory western sanctions. Read more

Boeing, Exxon, Apple join Western firms spurning Russia over Ukraine

Boeing suspended maintenance and technical support for Russian airlines and U.S. energy firm Exxon Mobil said it would exit Russia, joining a growing list of Western companies spurning Moscow over its invasion of Ukraine.

U.S. tech giant Apple said it had stopped sales of iPhones and other products in Russia, while Ford Motor joined other automakers by suspending operations in the country. Read more