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Record renewables output helps coal shortage in May despite power demand

Surging supply from renewables will go some way towards mitigating India's coal shortage amid extraordinarily rapid growth in demand

Was 'wrong' about inflation path, says Yellen; Biden backs Fed's actions

US Treasury Secretary Janet Yellen said that she was wrong in the past about the path inflation would take, but said taming price hikes is President Joe Biden's top priority

Gold, silver prices slip to two-week low as US yields, dollar rise

A stronger dollar makes bullion more expensive for buyers holding other currencies, while gains in benchmark US 10-year Treasury yields reduce the appeal of zero-yield gold.

Oil prices firm up as EU agrees to Russian energy ban, China ends lockdown

Brent crude was up $1.71, or 1.5%, at $117.31 a barrel by 0817 GMT. U.S. West Texas Intermediate (WTI) crude rose $1.67, or 1.5%, to $116.34.

Pvt refiners profit from cheap Russian crude, state refiners suffer: Report

While many Western buyers are avoiding Russian crude in response to its invasion of Ukraine, Indian private refiners such as Reliance and Nayara have been among the biggest buyers this year

PMI: India's May factory activity remained strong despite high inflation

Demand showed signs of resilience in May, improving further in spite of another uptick in selling prices

China says it conducted 'readiness patrol' in seas, airspace around Taiwan

China, which claims democratically governed Taiwan as its own territory, has stepped up its military manoeuvres around the island over the past two years or so

Asia's factory activity slows in May as China's Covid curbs weigh

Manufacturers slowed activity last month in countries ranging from Japan to Taiwan and Malaysia, business surveys showed

Dollar hits two-week peak against Japanese yen amid US yield rise

The dollar rose to a two-week high versus the yen on Wednesday, lifted by higher Treasury yields as global inflation worries flared anew

Oil prices open higher on EU Russian oil ban, end of Shanghai lockdown

Oil prices rose in early Asian trade today after EU leaders agreed to a partial and phased ban on Russian oil and China ended its Covid-19 lockdown in Shanghai

Govt slashes base import price of palm oil; raises rate of soyoil

India has slashed the base import prices of crude and refined palm oil, while raising the price of crude soyoil, the government said in a statement

Meta Platforms to trade on Nasddaq under 'META' ticker from June 9

Meta Platforms Inc said its Class A common stock will begin trading on the Nasdaq under the ticker symbol 'META' prior to market open on June 9, replacing its current ticker symbol 'FB'

Cryptocurrencies becoming a popular option in US to fund retirement

Some 27% of Americans aged 18-60 - around 50 million people - have owned or traded crypto in the past six months, a poll published last week by crypto exchange KuCoin found

China announces detailed stimulus measures to support virus-hit economy

The stimulus package underscores Beijing's shift toward growth after Covid control measures pounded the economy and threaten Beijing's 5.5% growth target for the year

Brent tops $124 as European Union to ban 90% of Russia oil by year-end

Ban likely to cost moscow billions of dollars every year

German officials raid Deutsche Bank's DWS over 'greenwashing' claims

DWS has faced regulatory probes in the US and Germany after its former chief sustainability officer, Desiree Fixler, alleged last year that the company inflated its ESG credentials

Wall Street mixed amid inflation fears; Powell-Biden talks in focus

Energy outperformed with a 1.1% gain as Brent crude climbed above $120 a barrel

After P&G revamp, activist investor Nelson Peltz moves on to Unilever

Billionaire investor has built 1.5% stake in Unilever, he will also serve on compensation committee; shares jump 7% as investors welcome potential overhaul

Oil prices' bull run continues as EU agrees to ban Russian oil supply

By Shadia Nasralla

Wild swings of May not necessarily the end of market turmoil: Here's why

They certainly sold in May, but rather than go away as the old stock market adage suggests, traders returned to aggressively buy the dip, causing some of the wildest monthly swings in recent times.