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US Federal Reserve cutting staff after more than a decade of payroll growth

A Fed spokesperson said the cuts are focused on the staff of the U.S. central bank's 12 regional reserve banks and mainly hit information technology jobs

India's Lava looks to corner a third of feature phone market share

Since it was set up in 2009, Lava has become popular for the budget phones, which have a keypad but no high-end features

Delta Corp gets tax notice for $1.34 bn along with interest, penalty

The tax notice comes at a time when the company, valued at over $566 million, is already facing heat over the recent move in July by the country's GST Council to impose a 28% indirect tax

Oil prices increase as Russia fuel export ban stokes supply concerns

Brent futures were up 78 cents, or 0.84%, at $94.08 a barrel by 1443 GMT, while U.S. West Texas Intermediate crude (WTI) futures rose by $1.02, or 1.14%, to $90.65 a barrel

Emissions from Tata Steel's Dutch plant reduce life expectancy: Research

The Dutch government, which commissioned the research, said in a statement that living conditions around the plant - on the country's North Sea coast - have to be improved

Abbott India warns of laxatives shortage in tussle with Goa regulator

The two laxative brands together have estimated annual sales of $70 million in India, healthcare data firm Pharmarack says

Intel hit with $400 million EU antitrust fine in decades-old case

The court, however, agreed with the European Commission that Intel illegally excluded rivals from the market which prompted the EU antitrust watchdog to re-open the case

Amazon Prime Video to roll out ads across multiple countries in early 2024

The online retail firm does not break out Prime membership numbers, but Business Insider had earlier this year reported Amazon ended 2022 with 168 million Prime members in the US

UK recession risk deepens but consumers stay unfazed, factory output falls

A business survey, which the BoE factored into its decision to keep rates on hold, showed companies endured a much tougher September than feared, marked by growing unemployment

Citigroup warns UK staff of cuts as hundreds of roles could be affected

Bankers have been bracing for change after CEO Jane Fraser said earlier this month that Citigroup, the third-largest US

Indian Potash sees no Canada supply hit amid row, hopes to extend deal

In April, Canpotex said it had agreed a supply contract with Indian Potash for shipments through Sept. 30

McDonald's plans to raise royalty fees for new US restaurant operators

The change will not affect existing franchisees who are maintaining their current footprint or who buy a franchised location from another operator

Bank of Japan keeps ultra-loose policy, dovish guidance; yen skids

The BOJ's decision contrasts with those of U.S. and European central banks, which in recent meetings have signalled their resolve to keep borrowing costs high to rein in inflation

Bond flows may hit $50 bn if other indexes follow: ICICI bank official

Earlier in the day, JPMorgan said it would include India in its global emerging market bond indices over 10 months starting June 2024, triggering close to $24 billion in flows.

India's inclusion in EM bond index can spark higher FX volatility: Bankers

The inclusion is expected to spur staggered inflows of $22-$30 billion, analysts estimate

India says rising oil prices a concern, but economic outlook 'bright'

India, the world's third-largest energy importer, purchases more than 80% of its crude oil from international markets

Go First says airline's revival could be derailed by lessors' demands

Dubai Aerospace Enterprise (DAE) Capital and ACG Aircraft Leasing recently sought a Delhi court's intervention by complaining some parts had been allegedly "robbed" or the jets were corroding

What would India's inclusion in JPMorgan's bond index mean for its markets?

Currently, 23 Indian Government Bonds (IGBs) with a combined notional value of $330 billion are index eligible, JPMorgan said

JPMorgan index inclusion shows confidence in India's economy: Ajay Seth

Inclusion will start on June 28, 2024, and extend over 10 months, with 1% increments on its index weighting, as India is expected to reach the maximum weighting of 10%

Apple's iPhone seen gaining market share in India as Pro model demand rises

Wait times in India for Apple's latest 15 Pro and Pro Max models, that go on sale Friday, are stretching up to late October, mirroring trends seen in China and the US