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India eyes cap on state transmission charges on green power purchase

Industrial and commercial consumers across the country have complained about various transmission charges levied by states on power purchase leading to higher costs

India's Bharat Petroleum to raise $2.19 billion in green energy push

State-owned oil marketing company Bharat Petroleum said it approved raising up to 180 billion rupees through an issue of equity shares on a rights basis

Yen under pressure; Australian dollar slides as data shows inflation easing

The yen was under pressure against most other major currencies on Wednesday, even as Japanese authorities said they could intervene to prop it up, while the Australian dollar dropped

India's rating upgrade hinges on sustainable fiscal consolidation: S&P

The RBI will not be in a hurry to cut rates until inflation risks have fully ebbed, said Vishrut Rana, senior economist, Asia-Pacific at S&P

Aerospace suppliers see upside in parts-making from record jet orders

Rising traffic, a search for alternative sourcing to China and orders this month from Air India and IndiGo for nearly 1,000 jets combined have made India a key market for aerospace

Goldman Sachs CEO projects high growth trajectory for India: Report

Global CEOs are thinking about India as a big growth opportunity while recognising some of the challenges with investing in the country, Solomon told the newspaper in an interview

Indian firm used toxic industrial-grade ingredient in cough syrups

The two sources said the syrup was made with industrial-grade PG, a toxic material widely used in liquid detergents, antifreeze, paints or coatings, and to enhance the effectiveness of pesticides

Govt prepares new multibillion-dollar battery subsidy scheme: Report

The draft proposal for a production-linked incentive subsidy scheme would offer Rs 21,600 crore ($2.63 billion) from this year through to 2030 for companies

World Bank extends $500 mn budgetary support to cash-strapped Sri Lanka

The government said on Tuesday that funding from the lender will come in two tranches

Audi ex-boss first VW board member to be sentenced over dieselgate

The ex-boss was fined €1.1 million ($1.20 million), which will go to the state treasury and non-governmental organisations, the court said

Prosus NV slashes valuation of edtech giant Byju's to $5.1 billion

Prosus had downsized the value of its 9.6% stake in Byju's to around $493 million in the financial year ended March 31, the report added

RBI relaxes restrictions on HDFC Credila over on-boarding of new customers

The RBI had also asked for the shareholding of HDFC Bank in HDFC Credila to be brought down to 10% on or before March 31, 2024, the company said in the filing

Bank of America to expand in 4 US states, closing gap with JPMorgan

Bank of America will open new financial centers in Nebraska, Wisconsin, Alabama and Louisiana as part of a four-year expansion across nine markets, including Louisville, Milwaukee and New Orleans

Bitcoin soars 20% in 11 days after BlackRock files application for spot ETF

BlackRock filed for a prospective spot bitcoin ETF on June 15, undeterred by the Securities and Exchange Commission's (SEC) past record of rejecting every such application

Promising signals of further decline in UK inflation: BoE's Dhingra

Dhingra is one of two members of the BoE's nine-member Monetary Policy Committee (MPC) who have consistently voted against the central bank's interest rate rises since December

Brookfield reinsurance arm offers to buy American Equity in $4.3 bn deal

Deal comes months after AEL rejected nearly $4 bn takeover offer from Prosperity Life and its principal shareholder Elliott Investment Management, saying bid "significantly undervalued" company

J&J's proposed $8.9 bn talc lawsuits settlement faces US bankruptcy test

US bankruptcy law typically shields debtors from lawsuits while they reorganize in bankruptcy

Edtech giant Byju's seeks to raise $1 billion to stave off investor revolt

The education startup is offering benefits to the potential investors, including preferential treatment in the case of liquidation, the report said

Audi ex-boss becomes 1st top manager sentenced for fraud in diesel scandal

The ex-boss was fined 1.1 million euros ($1.20 million), which will go to the state treasury and non-governmental organisations, the court said

Saint-Gobain accused of anti-competitive practices, CCI reviewing case

The case against Saint-Gobain and its local unit was filed to the Competition Commission of India (CCI) in May by a retired glass industry executive, whose name was redacted in the documents