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Govt evaluating option of building gas storage, says oil secretary

The modalities for building storage will be worked out after a feasibility study, he added

US manufacturing output falls in June, rebounds in second quarter

Factory output, which had also contracted in the fourth quarter, was boosted by a 36.7% surge in the production of motor vehicles and parts in the second quarter

Lockheed Martin raises full-year forecast on strong weapons demand

The advanced jet is Lockheed's largest program, after having generated 27% of total consolidated net sales and 66% of aeronautics' net sales in 2022

ICICI Lombard posts 12% rise in Q1 profit on higher investment income

Income from investments jumped nearly 27% to 6.22 billion rupees, helped by an increase in the market value of securities and higher profits on the sale of investments

Vedanta says it's awaiting govt nod for semiconductor plant in Gujarat

The group already has a partnership with Taiwan's Innolux for display fab manufacturing, he added

Morgan Stanley profit drops 18% in second quarter as deal doldrums persist

Global M&A activity fell 36% in the second quarter versus a year earlier, according to Dealogic. Still, its climb from the first quarter has sparked hopes of a nascent recovery

India to push G20 to raise share of taxes on firms for 'excess profit'

More than 140 countries were supposed to start implementing next year a 2021 deal overhauling decades-old rules on how governments tax multinationals

Google cannot remove Disney app in tussle over in-app charges: Court

Disney's lawsuit is the latest and most high-profile challenge to Google's policy of imposing a "service fee" of 11-26% on in-app payments in India

Bank of America profit rises in second qtr on boost from interest income

Bank of America's net interest income (NII) rose 14% to $14.2 billion in the second quarter

Court declines to entertain Pernod appeal to renew liquor sale licence

India's federal financial crime agency has accused the company of illegally making profits by giving false information to Delhi

ICICI Prudential Q1 profit jumps 33% to Rs 207 crore on investment gains

The company had a debt-equity mix of 54:46 at June 30 and 97.1% of the fixed income investments were in sovereign or AAA-rated instruments

Polycab India's Q1 profit soars 82% on higher demand of wires, cables

The company's shares rose as much as 3.6% to hit a record high of 4,055 rupees after the results

World Bank chief unveils plans to boost lending to tackle climate change

The new steps, still being discussed with shareholder countries, come on top of initial steps approved in April that will boost World Bank lending by up to $50 billion over the next decade

Eli Lilly's drug donanemab seen as a turning point in dementia fight

Drug slows Alzheimer's by 60% for mildly impaired patients in trial

ICE buyout target Black Knight sells second unit to ease antitrust path

Constellation had also agreed to buy Black Knight's Empower loan origination system business in March, a deal that analysts said may not be enough to quell concerns over ICE's $11.7 billion proposal

Russia halts grain deal as bridge to Crimea struck, claims Ukraine strike

The grain deal was hailed as preventing a global food emergency when it was brokered by the United Nations and Turkey last year, halting a de facto blockade of Ukrainian ports by Russia

Fight against inflation far from over as food price spikes: RBI bulletin

Surging food prices accelerated India's annual retail inflation rate to 4.81% in June, snapping four months of easing and erasing any chance of a rate cut this year

RBI buys $7.37 billion in spot foreign exchange market in May: Bulletin

The Indian rupee depreciated by over 1% against the dollar in May

Fisker to sell 100 limited edition electric SUVs in Indian market by Q4

The company had said in September it would begin selling its Ocean electric SUVs in India by July 2023, with local production beginning in a few years

India's gasoline demand likely to recover from late August: HPCL official

The local sale of diesel by private refiners is also denting sales by state-run companies, the official said