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Elliott to sell Italy's AC Milan football club to RedBird for $1.3 bn

The transaction may value AC Milan at about 1.2 billion euros ($1.3 billion), the people said.

Sri Lanka inflation jumps close to 40% in May as shortages persist

Food inflation surged 57.4%, while prices of non-food items jumped 30.6%, the data showed

Tech giants accuse Indian agencies of ignorance in Xiaomi spat

While the lobby group's letter to ICEA didn't name the Xiaomi case specifically, it warned that accusing companies of illegal royalty payments could have a 'chilling effect' on business in the country

Top Gun's Maverick risks China's anger with Taiwan flag on jacket

The sequel "Top Gun: Maverick" features Tom Cruise's character wearing a bomber jacket with the Taiwanese flag, something considered an independence symbol by authorities in Beijing

Hyundai Motor has a climate dilemma at one of world's top car plants

Hyundai Motor will study alternatives to a gas-fired power station for one of the world's biggest automobile plants after criticism the decision contradicts pledges to shift entirely to clean energy

Attero to spend $1 billlion over 5 years on battery recycling plants

With the $1 billion investment, Attero is seeking to recycle over 300,000 metric tons of lithium-ion battery waste annually by 2027

Small nuclear reactors won't avoid the problem of radioactive waste

Compared with existing reactors, small modular reactors would generate up to 5.5 times more spent nuclear fuel per unit of power

Russia-Ukraine war: EU leaders back push to ban most Russia oil purchase

The sanctions would forbid the purchase of crude oil and petroleum products from Russia delivered to member states by sea but include a temporary exemption for pipeline crude

Bonds rally everywhere in May with bulls saying global debt selloff is over

Global investment-grade debt has returned almost 1% in May, the first monthly gain since July, while US Treasuries are heading for their best month since November

Chinese banks overflow with cash that nobody wants to borrow amid lockdowns

Struggling to find enough clients, banks have been swapping bills with each other just so they can meet regulatory requirements for corporate lending

Shanghai to end two-month long Covid-19 lockdown on June 1: Report

"I'm so emotional that I'm going to cry," said one Weibo user

Japan's giant deep ocean turbine trial offers hope of endless green power

For more than a decade, Japan's IHI Corp. has been developing a subsea turbine that harnesses the energy in deep ocean currents and converts it into a steady and reliable source of electricity

India Q4 GDP: Omicron curbs may have slowed down growth before Ukraine war

In the January-March quarter, the economy likely expanded 3.9%, according to the survey, a performance that will mark the low point of the year

Amid financial crisis, Pakistani rupee set to see worst month in 2 years

The Pakistani rupee has declined about 7% in May, the steepest drop since March 2020, as the country negotiates a bailout package with the IMF and other nations to keep its economy afloat

Sunak's billionaire wife Akshata Murty builds ties to world's super-rich

Murty, 42, who was born in India and is still an Indian citizen, has a net worth of about $1.2 billion thanks to her stake in Infosys Ltd.

India probes ZTE, Vivo as more China firms under scrutiny: Report

India has tightened scrutiny of China-based firms since 2020, when the two nations saw the deadliest fighting in decades at their disputed Himalayan border

Fed's Christopher Waller backs 50 bps rate hikes at 'several' meetings

US central bankers raised rates by a half point this month to cool the hottest inflation in 40 years and have signaled they'll hike by the same amount again at their meetings in June and July

Inflation fight, monsoon may take pressure off RBI: Former deputy governor

The govt's recent $26-bn fiscal package, which includes tax cuts and subsidies, as well as the RBI's rate increase earlier this month, should be able to cool inflation to 6%, says R Gandhi

China's Covid outbreak wanes as curbs eased to boost faltering economy

China reported the fewest new Covid-19 cases in almost three months, with the easing of outbreaks in Beijing and Shanghai emboldening authorities to relax some of the strictest virus controls

China prepares final missions to complete its Tiangong space station

The Shenzhou XIV, which will carry three astronauts in June for a six-month mission to Tiangong, was moved to the launchpad at the Jiuquan Satellite Launch Center in Inner Mongolia on Sunday