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ArcelorMittal eyes US Steel in bid worth over $7 billion, says report

The buy would reverse ArcelorMittal's retreat from US as a production base

RBI bought net $4.50 billion in spot foreign exchange market in June

The RBI purchased $7.79 billion and sold $3.28 billion, the bulletin showed. In May, the central bank had bought a net of $7.37 billion in the spot market

Walmart raises forecasts, tops sales estimates on lower price offers

Walmart is also benefiting from lower supply-chain costs and fewer discounts that were previously put in place to cut down excess inventory

JSW Steel considers 75% interest in Teck's coal business 'Elk Valley'

The potential deal could value the business at $8 billion, said a report, rivaling an earlier bid by Swiss commodities giant Glencore

India's OIS factors in one more rate hike, bond yields near top: Traders

Banks have been asked to maintain an incremental cash reserve ratio of 10% on increase in deposits between May 19 and July 28, and this would withdraw over one trillion rupees ($12.03 billion)

India August retail inflation expected below 7%: Motilal Oswal's Gupta

Retail inflation rose as of last count as prices of vegetables and cereals skyrocketed, beating all market expectations and putting pressure on the government to bring down prices

Morgan Stanley cuts China's 2023 economic growth forecast to 4.7%

Earlier this week, J.P.Morgan cut China's 2023 GDP growth forecast to 4.8 per cent from 5 per cent earlier, while Barclays cut it to 4.5 per cent

China's property woes: Implications of the debt crisis at Country Garden

Since the sector's debt crisis unfolded in mid-2021, companies accounting for 40% of Chinese home sales have defaulted, most of them private property developers

Footwear maker Bata India in partnership talks with Adidas: Report

The retailer, which houses brands such as Hush Puppies and Scholl, is likely to tie up with Adidas for the Indian market, as per the report

India mulls wheat imports from Russia at discount to calm prices: Reports

The imports would allow New Delhi to intervene more effectively in the market to drive down wheat prices that stoked inflation to a 15-month high in July

Eye hospital chain Dr. Agarwal's raises $80 million from TPG, Temasek

The top shareholder of publicly listed Dr. Agarwal's Eye Hospitals plans to operate 300 hospitals by the end of 2025. It currently has over 150 hospitals, including in African countries like Nigeria

RBI likely sold dollars via PSBs to keep rupee from record lows: Traders

The RBI likely sold dollars to pull the rupee back near the 83 level

Fed officials divided in July over need for more rate hikes, minutes show

In general, the minutes said, Fed policymakers agreed that the level of uncertainty remained high, and that future interest rate decisions would depend on the "totality" of data arriving

OpenAI acquires start-up Global Illumination to work on ChatGPT, products

Global Illumination most recently worked on open-source technology related to online game production

Oil prices stabalies as China economic fears counter tight US supply

Brent crude futures edged up 6 cents to $84.95 a barrel by 11:35 a.m. EDT (1535 GMT), while U.S. West Texas Intermediate crude (WTI) fell 2 cents higher to $80.97 a barrel

H&M probes Myanmar garment factory abuses after Zara's walkout talk

Other brands continuing to source from Myanmar have also ramped up monitoring of suppliers through field offices enabling them to conduct their own inspections instead of relying on external audits

Amara Raja Batteries to expand into two-wheeler market to power growth

The company, which owns the Amaron battery brand, aims to penetrate into two-wheeler EV market first with chargers and eventually through battery packs as it expands its so-called 'new energy' segment

Tomatoes on 'vacation' as India battles food inflation, says Burger King

"Even tomatoes need a vacation ... we are unable to add tomatoes to our food," read notices pasted at two Burger King India outlets. The chain has cited quality issues in explaining the shortfall

Indian banks' operating environment strengthens as Covid risks ebb: Fitch

With banks shoring up their capital buffers and cleaning up their balance sheets following the pandemic, their gross non-performing asset ratio has fallen to a 10-year low of 3.9% as of March 2023

Hyundai Motor's India unit to buy General Motors' Maharashtra plant

The South Korean firm said it intends to upgrade the existing infrastructure at the Talegaon unit and start manufacturing in 2025. The plant currently has an annual production capacity of 130,000 unit