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Wells Fargo accused of misleading statement, to pay $1 billion in lawsuit

The investors sued the bank in 2020 claiming that its former chief executive officer, Tim Sloan, and other executives made misleading statements in testimony

OpenAI's CEO Altman casts global gaze in urging AI regulation in US

Congress is debating the potential and pitfalls of artificial intelligence as products like ChatGPT raise questions about the future of creative industries and the ability to tell fact from fiction

Singapore Airlines reports record annual profit in 76-year history

The airline said it could ramp up operations at short notice when demand for air travel surged after Singapore fully reopened its borders in April 2022

Senior Tesla executives to visit India this week in pivot beyond China

The executives are scheduled to meet govt representatives including those from the office of Prime Minister Narendra Modi to discuss local sourcing of components for Tesla's models

Vodafone to slash 11,000 jobs over next 3 yrs in new CEO's turnaround plan

Adjusted free cash flow, a closely watched metric, will drop by about 31% to €3.3 billion ($3.6 billion) in the fiscal year ending in March, following divestments

Shapoorji Pallonji Group taps private credit market to raise $1.6 bn

The group has been seeking ways to free up cash as rising interest rates bite

Morgan Stanley weighs 7% cut in Asia-Pacific investment banking workforce

The New York-based firm already axed about 50 investment-banking jobs in Asia by the end of last year after a plunge in deals, and a significant number of those were China-focused roles

RBI board expected to consider dividend payout to government on Friday

The government has budgeted to receive a total Rs 48,000 cr ($5.8 bn) from the RBI and other financial institutions it holds stakes in

Pak army refuses to exercise restraint on mobs attacking military property

The military's sharp reaction marks another escalation in an ongoing showdown between Pakistan's most powerful institution and Imran Khan, who was arrested by an anti-graft agency

US to buy 3 mn barrels of crude oil to replenish reserve in August

The announcement sent US oil futures 0.5% higher to trade above $71 a barrel.

It may not help: WHO on use of artificial sweeteners for weight loss

Artificial sweeteners were also linked with higher risk of developing type 2 diabetes and cardiovascular disease, as well as of dying, according to the WHO

Energy revolution: Hitting the brakes on growth isn't fair to poor nations

In India and nearly everywhere else, utilities are the main customers of solar and wind power. But electricity is only one part of our carbon footprint

As inflation slows, rate-cut bets surface across Asia on policy pivot

Amid signs that inflation in the region is now slowing, the narrative among market participants has shifted from "peak rates" to rate cuts, which should help drive a rebound in sovereign debt

Elections in India, Turkey and Thailand show democracy is not dead

Nevertheless, the last week has been full of reminders that, even in an age when democracy seemed to be in retreat, voters retain the power to prevent their countries from collapsing into autocracy

Fed, social media contributed to bank's collapse, says SVB's former CEO

Becker said comparisons by the media between SVB and Silvergate Capital Corp., which announced plans to wind down just days before his bank's seizure, contributed to SVB's failure

World's biggest plant for Ethanol jet fuel expected to open in 2025

The plant will eventually produce enough jet fuel to power thousands of flights per year, according to Summit Agricultural, run by entrepreneur Bruce Rastetter

WeWork co-founder buys a hip clothing brand, starts a senior center

McKelvey paid $10 million last year for a controlling stake in American Giant, a made-in-the-USA apparel brand that became famous in 2012 for creating a sweatshirt called the greatest hoodie ever made

Samsung Electronics chief meets Elon Musk on possible hi-tech alliance

Lee and Musk held the meeting at Samsung's semiconductor research center in Silicon Valley on Wednesday, South Korea's Yonhap said on Sunday

All but one Adani Group stocks decline, two hit the lower circuit

Adani Green was also scheduled to hold its board meeting but deferred it to May 24, citing 'certain exigencies'

Musk loses appeal of 'Twitter sitter' dispute with SEC over Tesla posts

The court in Manhattan on Monday ruled against Musk's free speech claims just days after a three-judge panel heard arguments in the case on Thursday