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Walt Disney's ESPN getting into sports betting with Penn Entertainment

Penn will make cash payments totaling $1.5 billion over the 10-year term and grant ESPN $500 million of warrants to purchase Penn shares

Rice prices soar to highest since 2008 on rising threats to supply

Rice is vital to the diets of billions of people in Asia and Africa, and the surge in prices could add to inflationary pressures and boost import bills for buyers

UK heads for 5-yr of lost economic growth as goal to 'level up' fails

The forecasts echo the Bank of England's gloom, which said last week that GDP would remain below pre-pandemic levels "in the medium term"

Larsen & Toubro planning to invest as much as $12 bn over next five years

L&T Energy Green Tech, a unit of the conglomerate, will execute the clean energy strategy and over time may expand into fuel cells, grid batteries and hydrogen vending

India's grain stockpiles crucial to PM Modi's pre-election strategy

Modi and his ruling Bharatiya Janata Party, campaigning to be re-elected for a third term, are facing widespread frustration about rising prices, a concern that has brought down past governments

RBI likely to keep rate and policy stance unchanged to control inflation

The RBI is likely to retain its "withdrawal of accommodation" stance introduced in April last year, according to 19 of 20 economists who shared their forecast on the stance

Indian debt collection startup raises $50 million from Accel, Westbridge

Lenders are looking for efficient ways to communicate with borrowers and collect payments, a task that becomes more onerous in countries such as India that are experiencing rising credit growth

In China, it's already cheaper to buy electric vehicles than gasoline cars

Tesla's Model Y crossover SUV has comfortably outsold every competitor since Feb, while BYD Co.'s Dolphin hatchback has already overtaken established competitors just months after deliveries began

Shriram Group tycoon who gave away $750 mn sees profit in loans to poor

A pioneer in extending credit to India's poor for trucks, tractors and other vehicles, Thyagarajan built Shriram into a conglomerate that employs 108,000 people in everything

Amazon in talks to become anchor investor in SoftBank's Arm IPO: Report

Arm, owned by SoftBank Group Corp., is gearing up for what promises to be the biggest tech IPO of the year. It's spent months talking to some of its top customers about joining the offering

China suffers new blow as exports see biggest drop in three years

China's economic recovery this year was expected to be buoyed by strong domestic demand, but a housing market slump has hit construction while consumption growth is slowing

Adani Enterprises considering sale of 44% stake in Wilmar Venture

The conglomerate has been considering a potential sale of its 44% stake in Adani Wilmar Ltd. for a few months, the people said, asking not to be identified as the information is confidential

Disinflation spreads across several emerging markets and selloff deepens

In Hungary, which has the highest interest rate in the European Union, inflation dipped below 20% for the first time in 11 months. The government expects the rate to fall below 10% by October

India seen as bright spot as China's gloom weighs on steel demand

"India is, I think, the shining light on the horizon," Thompson said. That marks a contrast with China, where the impact of recent stimulus measures are struggling to gain traction, he said

Graves a barrier for Jindal's $2 billion South African iron-ore mine

The obstacles faced by the company highlight the challenges of investing in South African mining, where decades of violations of environmental and social rights under apartheid eroded trust

Moody's cuts 10 US banks on back of mounting funding costs, office exposure

"Collectively, these three developments have lowered the credit profile of a number of US banks, though not all banks equally," it wrote in some of the assessments

The Global South quietly revising economic rules written by US, West

The Global South sees a chance to chart its own future. Nirupama Menon Rao, a former Indian foreign secretary, points to her country's spreading of digital payments to developing nations

Zoom Video Communications Inc summons employees back to office: Report

Employees who live near a Zoom location must be on-site two days a week, a company spokesperson said

Hindenburg nabs tiny gains off $173 bn carnage, wipes out $99 bn of wealth

The surprise is that Anderson, 39, who runs tiny Hindenburg Research with a team of roughly a dozen researchers, probably reaped relatively small profits from those fights

PayPal rolls out dollar stablecoin to boost digital tokens for payments

With PYUSD, Chief Executive Officer Dan Schulman is seeking to cement PayPal's dominance in digital payments by leaning on technology