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How rich is Saudi Arabia? Kingdom does the math in balance sheet overhaul

Despite Saudi's oil wealth, creating enough jobs for the kingdom's young population is a challenge

Bitcoin tumbles 17% as doubts grow over starry valuations

The world's biggest cryptocurrency suffered its biggest daily drop in a month

Hyundai unveils Ioniq 5 electric crossover, expects EV demand jump

The company says the model is based on a new electric vehicle-only platform that uses its own battery module technology and requires fewer components than Hyundai's existing electric cars

Holiday-Inn owner IHG loses $153 mn, scraps dividend as crisis hits travel

The company, whose brands include the Crowne Plaza, Regent and Hualuxe hotel chains, said 2020 was the most challenging year in its history as it reported a 52.5 per cent drop in revenue

HSBC lowers ambitions on dividends, returns after Covid-led profit fall

Citing the low interest rate environment and tough market conditions, HSBC abandoned its long-term profitability goal of achieving a return on tangible equity of 10 to 12 per cent

Oil prices increase more than $1 as US output slow to restart

Morgan Stanley expects Brent crude prices to climb to $70 per barrel in the third quarter

HeidelbergCement saw good start to 2021, 2020 core profits up by 6%

"There should be a tailwind from infrastructure programmes, for example in the USA, Australia, India and Italy," Chief Executive Dominik von Achten said

Damage to United Boeing 777 engine consistent with metal fatigue: NTSB

The United engine's fan blade will be examined on Tuesday after being flown to a Pratt & Whitney laboratory where it will examined under supervision of NTSB investigators

Bitcoin falls as much as 6% in Asia trade as it pulls back from record high

Ether, the coin linked to the ethereum blockchain, also dropped more than 5% and last bought $1,707, down almost 17% from last week's record peak

Tesla rival Lucid Motors to go public in $11.8 billion blank-check merger

Lucid, which plans to build vehicles at its factory in Arizona, aims to deliver 20,000 vehicles in 2022 and 251,000 in 2026 by adding other models like an electric sport utility vehicle

Reliance to hive off O2C business, expects approvals by September quarter

The Mukesh Ambani-controlled company had initiated the process to hive off its oil-to-chemicals business at a time when the Covid-19 pandemic caused a slump in fuel demand

World shares slide as inflation fears batter bonds, commodities surge

Oil prices rose on a tight global supply outlook after U.S. production was hammered by frigid weather and an approaching meeting of top crude producers is expected to keep output largely in check

Petrobras shares slump as Brazil's Bolsonaro doubles down on intervention

Shares in state electricity company Eletrobras also plunged on Monday after Bolsonaro said it would be the next sector in which the government would "stick its finger"

WeWork co-founder Adam Neumann nears settlement with SoftBank: Report

The settlement would put to rest a prolonged legal battle between Neumann and Softbank, which dates back to 2019 when WeWork's IPO plans fell apart

Boeing engine blowouts under investigation as older 777s are suspended

The European Union Aviation Safety Agency (EASA) weighed in on Monday, requesting more information on the Pratt engines in light of both events

Russia, Saudi Arabia at odds over output deal ahead of Opec+ meeting

Russian Deputy Prime Minister Alexander Novak has voiced support for a gradual increase in oil output amid improving demand

Boeing 747 cargo plane drops engine parts; investigation launched

In the Dutch incident, witnesses heard one or two explosions shortly after take-off and the pilot was informed by air traffic control that an engine was on fire, Hendriks said.

Gold prices jump more than 1% as inflation concerns triggers demand

Spot gold was up 1.6% at $1,810.45 an ounce

UK broker IG pulls some of its riskier products after GameStop frenzy

In response to a story by the Financial Times, IG said it would be withdrawing less than 8% of the 12,000 leveraged equities products it offers

India's inflation target band needs adjustment, says CEA Subramanian

India's retail inflation, which had touched double-digits during the previous Congress party-led government, has gradually fallen, helping Modi to win a second term in 2019