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Uber may have explored selling Indian arm; company calls the report false

The US company Uber began weighing alternatives and reached out to several interested parties after recognizing it had limited potential for profitable expansion in Indian market.

Crude takes fresh hit as fear of global slowdown scars commodities

West Texas Intermediate sank towards $104 a barrel after closing at a six-week low on Wednesday

Gautam Adani and his family pledge to donate Rs 60,000 cr for social causes

Donation to be utilised in healthcare, education, and skill development

European gas futures gain as Germany sounds alarm over Russia disruption

Front-month benchmark futures rose as much as 5.8% after German Economy Minister Robert Habeck enacted the "alarm" phase of the emergency plan, saying that Europe's biggest economy is in a gas crisis

Reserve Bank likely to raise interest rates twice before weighing a pause

June's jumbo hike, which followed a 40 basis points increase in May, is prompting analysts from Nomura Holdings Inc. and Barclays Plc to pencil in a 35 basis-point move in August

Asia's thirst for cheap Russian oil hits Opec's No 2 producer Iraq

The Iraqi grades are an outlier in Asia, where robust demand led to an earlier-than-usual start of the trading cycle for physical crude buying

Sri Lanka sued by US bondholder after island nation's historic default

Sri Lanka, an island nation off the southern tip of India, fell into default in May after the expiry of a 30-day grace period for missed interest payments on two of its sovereign bonds

RBI may have boosted forwards intervention to slow rupee fall, save reserve

The Reserve Bank of India has run down its forward-dollar book by $12 billion to $15 billion from about $64 billion at the end of April

Xi Jinping reaffirms growth target that analysts say is out of reach

Chinese President Xi Jinping pledged to meet economic targets for the year even as the government's zero tolerance approach to combating Covid outbreaks

Reliance Industries seeks new technologies to make cheaper green hydrogen

As part of the push, Reliance Industries also plans to bid for any production-linked incentives the government may offer to encourage the technology

Shipping costs soar as Russian fallout overpowers global fuel flows

The Russian invasion has exacerbated a tightening of energy markets, upending trade flows and forcing buyers to scour the world for alternative fuel supplies

Elon Musk says new Tesla plants are 'money furnaces' losing billions

"Both Berlin and Austin factories are gigantic money furnaces right now," the chief executive officer said in a video interview with Tesla Owners of Silicon Valley posted online Wednesday

SoftBank's Masayoshi Son to face shareholders shaken by $34 bn loss

Shareholders looking for signs of recovery see a portfolio awash with red instead

Rich-poor divide on clean power getting wider and hurting climate fight

Investment in clean energy has only accelerated in the years since Covid-19 struck. In the second half of the last decade, it grew at a 2% annual rate

Biodiversity loss may push India, China closer to default: Report

A "partial ecosystems collapse" of fisheries, tropical timber production and wild pollination would increase annual borrowing costs for 26 nations including the US by $53 billion

India, China may be buying more oil from Russia than known, says US

China and India may be buying more Russian oil than the US previously believed, easing a supply crunch in global markets and potentially driving a recent price decline

Jack Ma's Ant Group set to apply for China finance licence this month

The People's Bank of China intends to accept Ant's application to become a financial holding company once it's submitted

Crude oil buckles as recession angst rattles commodity investors

While crude has been shaky over the past week, plunging 6.8% on Friday, there's little respite to the tightness in refined fuel markets

JPMorgan laying off hundreds in mortgage business after rate surge

The total affected will be more than 1,000 workers, with about half moved to different divisions within the biggest US bank, according to people familiar with the matter

Crypto platform FalconX doubles valuation to $8 bn despite downturn

The San Mateo, California-based startup said Wednesday that it had raised $150 million in a Series D funding from investors led by GIC and B Capital, a previous investor.