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Tesla scouts for 1st India showroom locations; plans to begin sales in 2024

It wants to begin with a showroom of 3,000 to 5,000 square feet (280-465 square metres) as well as a service hub in each city, said one of the people familiar with the plans

Tesla plans to lay off more than 10% of its staff amid softening demand

The world's largest automaker by market value had 140,473 employees globally as of December 2023, its latest annual report shows

Seized MSC Aries for violating maritime laws: Iran's foreign ministry

Iran's Revolutionary Guards had seized the freighter in the Strait of Hormuz days after Tehran vowed to retaliate for a suspected Israeli strike on its consulate in Damascus on April 1

Russia, China trade new copper disguised as scrap to skirt taxes, sanctions

Copper wire rod was shredded in China's remote Xinjiang Uyghur region by an intermediary to make it difficult to distinguish from scrap

'India to decide policy once of Iran-Israel conflict impact understood'

India, the world's third largest oil importer and consumer, imports a significant chunk of its petroleum purchases from the Middle East

Climate spending may make emerging nations with high debt insolvent: Report

A further 19 developing countries lack the liquidity to meet the spending targets without help, though they would not approach default thresholds

Jio Financial, Blackrock form JV to set up wealth management, broking biz

Jio Financial Services, part of billionaire Mukesh Ambani led-Reliance Group, and BlackRock formed a 50:50 joint venture to launch asset management services in India in July 2023

Russia restoring crude oil refining capacity knocked out by drones

Ukraine stepped up drone attacks on Russian energy infrastructure since start of year, hitting some major oil refineries across world's second largest oil exporter in attacks that sent up oil prices

CATL Q1 results: Profit increases 7% to $1.45 bn, Moody's upgrades rating

CATL produced a profit of 10.5 billion yuan ($1.45 billion) for January-March, off the back of a 10.4% drop in revenue to 79.8 billion yuan

India bond yields steady; focus on oil prices amid West Asia tension

The yield on the benchmark Indian 10-year note ended at 7.1779%, after closing at 7.1794% in the previous session

M&T Bank Q1 results: Profit declines by 25% on higher deposit costs

Regional lenders have had to pay higher interest rates on deposits to prevent customers from fleeing to higher-yielding alternatives, such as money market funds

BNP Paribas to buy 9% stake in Belgian insurer Ageas for $780 million

The French lender's $16.3 billion sale last year of its U.S. retail activities has left it with funds for acquisitions

BP's electric vehicle charging arm reduces over a tenth of workforce

The move comes as automakers across the world tighten their belts amid a slower than expected uptake of EVs

Home solutions provider Resideo to buy Snap One in $1.4 billion deal

The acquisition will help Resideo's ADI unit, a global distributor of audio-visual and low-voltage products, benefit from Snap One's smart-living solutions

Goldman Sachs Q1 results: Profit jumps 28% on investment banking strength

"We continue to execute on our strategy, focusing on our core strengths to serve our clients and deliver for our shareholders," CEO David Solomon said

Merchandise trade deficit in March stands at $15.6 billion, shows data

According to commerce ministry data released on Monday, the imports during 2023-24 stood at 677.24 billion, down 5.41 per cent from $715.97 billion in the preceding year

Euro zone govt bond yields rise over risk of escalating Iran conflict

Iran ended its retaliatory attack with no significant damage to Israel, and the US said it did all it could to avoid an open warfare erupting between the two countries

HK gives initial approval to first Bitcoin, ether spot ETFs, say funds

At least three offshore Chinese asset managers will launch the virtual asset spot ETFs soon

Microsoft backed OpenAI bids for Japan business as it opens Tokyo office

Japan hopes to take advantage of AI as it looks to compete with an increasingly assertive China, accelerate the shift to digital services and alleviate deepening labour shortages

New UN sanctions won't hurt our aluminium supply, says Russian firm Rusal

The action is aimed at disrupting Russian export revenue in response to what Moscow calls a "special military operation" in Ukraine. Russia is a major producer of aluminium, copper and nickel