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Moscow says US behind Kremlin drone attack, Russian forces target Kyiv

The European Union is setting aside €500 million ($551 million) to boost manufacturing of artillery shells, missiles and gunpowder in an effort to speed up production of ammunition for Ukraine

US regional banking woes worsen: PacWest, Western Alliance stocks tumble

The bank had confirmed an earlier Reuters report on Wednesday that it was exploring strategic options, including a potential sale or capital raising

Go First pilots rush to Air India's job drive after it files for bankruptcy

Go First's announcement on Tuesday that it had filed for bankruptcy as demand for post-pandemic air travel in the world's most populous country boomed came as a shock to many employees

UBS weighs options for sale of Credit Suisse's Swiss unit, say reports

UBS is studying plans to sell the Swiss banking business of Credit Suisse in an initial public offering (IPO) after taking over its smaller rival, the people said, speaking on condition of anonymity

United Breweries posts 94.03% slump in Q4 profit on higher input costs

India's United Breweries Ltd reported a 94.03% slide in fourth-quarter profit on Thursday, hurt by higher raw material costs

US trade deficit narrows sharply to 9.1% in March as exports rise

Exports increased 2.1% to $256.2 billion. Goods exports shot up 3.1% to $174.3 billion. Crude oil exports rose $2.5 billion, boosting shipments of industrial supplies and materials

CEAT reports five-fold jump in Q4 profit on lower raw material costs

The company recommended a final dividend of Rs 12 rupees per share

India amends power policy draft to halt new coal-fired capacity: Reports

The draft, if approved by the federal cabinet chaired by Prime Minister Narendra Modi, would make China the only major economy open to fresh requests to add significant new coal-fired capacity

US weekly jobless claims rise as higher borrowing costs cool demand

Initial claims for state unemployment benefits rose 13,000 to a seasonally adjusted 242,000 for the week ended April 29

Shopify to lay off 20% of workforce in 2nd round, revenue tops expectations

The company also reported better-than-expected results for the first quarter, as more merchants used its online tools and targeting services to attract customers tackling high inflation

ECB raises rates by 25 bps to 3.25% in inflation fight in a 7th hike

The central bank for the 20 countries that share the euro has now lifted rates by a combined 375 basis points since last July, its fastest pace of tightening

Wadia-owned Bombay Dyeing posts bigger loss in March qtr as costs soar

The Mumbai-based company's consolidated net loss widened to Rs 246 crore ($30.08 million) for the three months ended March 31, from a loss of Rs 41.74 crore a year earlier

Alibaba Group's global online commerce arm weighs US IPO, says report

The e-commerce giant is in the early stages of consideration and the IPO's size is yet to be determined, the report added

India tribunal allows bankruptcy proceedings against Future Lifestyle

A company court on Thursday admitted Bank of India Ltd's petition to begin insolvency proceedings against Future Lifestyle Fashions Ltd on an alleged loan default

Adani Ports completes sale of Myanmar port for a discounted $30 million

Adani Ports and Special Economic Zone Ltd said that it has completed the sale of its port in sanction-hit Myanmar for $30 million, significantly lower than its investment in the project

Tata Steel CEO Narendran expects Europe ops to improve from July-Sept

Europe is still struggling but things are getting better because energy prices have come down, T.V. Narendran told Reuters in an interview

India, Russia suspend negotiations to settle trade in rupees: Report

India and Russia have suspended efforts to settle bilateral trade in rupees, after months of negotiations failed to convince Moscow to keep rupees in its coffers

India to become 50% non-cash economy in consumption in 3 years: Report

Market borrowings by India's state governments are likely to be lower than the amounts indicated in their budgets, as off-balance sheet liabilities will continue to be adjusted in this fiscal year

India's exports may hit $900 bn despite global headwinds in FY24: Exporters

Merchandise exports could expand to between $495 billion and $500 billion, while services exports could touch $400 billion in the year ending March 2024

'Plagiarism machines': Writers, studios battle over future of AI

The Writers Guild of America (WGA) is seeking to restrict the use of artificial intelligence in writing film and television scripts