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Fed's Powell says higher rates may be needed, will move 'carefully'

"It is the Fed's job to bring inflation down to our 2% goal, and we will do so," Powell said in a keynote address to the Jackson Hole Economic Policy Symposium

Moscow demands bigger discounts from foreign companies exiting Russia

Companies still in the process of negotiating exits include telecoms group Veon, Nasdaq-listed tech group Yandex and Italian lender Intesa.

Japan's SoftBank will likely sell shares in India's Zomato: Report

U.S.-based firms Sequoia and Tiger Global, who were investors in Blinkit, had also received shares in Zomato after the acquisition

ACME Group to invest nearly $3.3 bn in green hydrogen project in Odisha

ACME Group will acquire 343 acres of land in Gopalpur Industrial Park, developed by the Tata Steel Special Economic Zone in the state

With Tesla push, India mulls import tax cut if EV makers build locally

Tesla's best-selling Model Y, for example, starts at $47,740 in the U.S. before tax credits

JSW Steel plans to pick up 20%-40% stake in Teck Resources' coal unit

JSW, along with Japanese and Korean mills, plans to buy a stake in Teck's Elk Valley Resources, with a combined offer valuing the unit at $8 billion, Jindal told the publication in an interview

Swiggy restarts IPO plans, aims for July-Sept 2024 stock market listing

Swiggy in May said its core food delivery business had turned profitable, nine years after starting operations, even as its newer grocery delivery service, Instamart, continues to make losses

Nearly 2 mn excess deaths followed China's sudden end of Covid curbs

China's decision last December to end the three-year zero-Covid policy, which included mass-testing and stringent and persistent quarantine lockdowns

Drug retailer Rite Aid Corp preparing to file for bankruptcy: Report

Regionally focused Rite Aid operates more than 2,330 stores in 17 U.S. states, although it is much smaller than rivals like Walgreens Boots Alliance and CVS Health

BofA sees 'trouble' ahead for technology stocks despite big inflows

The tech-heavy Nasdaq Composite has gained 28% this year, fueled by megacap stocks and excitement over the business potential of artificial intelligence

AstraZeneca sues US govt over Medicare drug price negotiation plans

The British drugmaker, which filed its complaint in a Delaware district court, joins other drugmakers and business groups claiming that the program would restrict the development of new medicines

Moody's cuts Chinese property giant Longfor's ratings to cusp of junk

China's property market has suffered a wave of defaults and debt restructurings since mid-2021 which have also left swathes of homes unfinished

Blackstone Group selling a 22% stake in Bellagio, says WSJ report

Realty Income, which owns more than 13,000 properties in the U.S. and Europe, is paying $300 million for the 22% stake in the casino and resort, the report said

Pak rupee marks record closing low for 4th straight day on rising outflows

The rupee touched a record low for a fourth consecutive day and has depreciated 3.2% since Aug. 15, after a caretaker government took over

India's forex reserves post steepest weekly decline in over 6 months

They fell by $7.27 billion from the prior week, the sharpest decline since the week ended Feb 10

Adani-Hindenburg case: Sebi shares investigation update with Supreme Court

SEBI "shall take appropriate action based on outcome of the investigations," it said

L&T, HAL vetted to potentially bid on India's rocket privatisation

About 20 cos submitted an expression of interest in bidding on the privatisation, the first of its kind under a policy drive by Prime Minister Narendra Modi to open space biz to investment

Indian billionaire Anil Agarwal mulls listing Vedanta businesses separately

The plans stand in contrast to Agarwal's attempts in 2020 to delist Vedanta Ltd to expedite the process of simplifying its corporate structure, which failed

Jio Financial recovers after hitting lower limit for five sessions

JFS was automatically included in the benchmark Nifty 50 and Sensex indexes due to Reliance's presence, with the plan to remove the stock at the end of Aug 23

Prigozhin's death removes one problem, may create new ones for Putin

The United States is looking at a number of theories over what brought down the plane, including a surface-to-air missile hitting it, U.S. officials told Reuters