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European Union lays out plan to prevent Big Tech dominance in metaverse

The EU initiative comes as Facebook owner Meta Platforms , Microsoft and Apple work on metaverse products or services

RBI eyes 1 mn digital currency transactions daily by year-end: DG

The RBI has devised the e-rupee as a digital alternative to physical cash - using blockchain distributed-ledger technology

Ministers concerned over including GST IT network in money laundering act

India's state ministers have raised concerns over the inclusion of goods and services tax's (GST) information technology network under the country's money laundering act

Indian drugs regulators took action against 105 pharma firms, says minister

Indian drugs regulators have taken action against 105 pharmaceutical companies after a risk-based inspection and audit of manufacturing plants, the health minister said on Tuesday

Scanty rains diminish sugar output, export prospects; farmers worried

By Rajendra Jadhav

Troubles mount for Anil Agarwal's Vedanta as Foxconn ditches $19.5 bn JV

London-headquarted Vedanta Resources controls the India unit, Vedanta Ltd. Agarwal took Vedanta Resources private in 2018. As of 2022, his net worth was $2 billion, ranking him 97th among India's rich

Foxconn to apply for India chipmaking incentives after $19.5 bn JV pullout

"Foxconn is committed to India and sees the country successfully establishing a robust semiconductor manufacturing ecosystem," the company said

Women economists called traitors for meeting Treasury Secretary Yellen

China on Monday called on the US to take "practical action" in response to its "major concerns" about sanctions on Chinese firms, after Yellen wrapped up meetings with senior officials in Beijing

Iraq signs $27 billion energy deal with TotalEnergies, says report

TotalEnergies took a 45 per cent stake and QatarEnergy holds the remaining 25 per cent

Carl Icahn gets breathing room from lenders after Hindenburg attack

A principal repayment of $500 million is now due on or before September 1, according to a filing

Novo Nordisk under EU probe after reports of suicidal, self-harm thoughts

Another patient on Saxenda, Novo's earlier and less effective weight-loss drug that contains a different active ingredient, reported thoughts of self-injury, the agency said

India's ethanol program will cap future sugar exports: BMI report

BMI says that there is currently a fast development of additional capacity to produce ethanol in India, where the biofuel is made mainly from sugarcane

TPG to buy Forcepoint's govt cyber unit in $2.45 billion deal: Report

The acquisition would hand TPG control of Forcepoint Global Governments and Critical Infrastructure, which focuses on key infrastructure for US government and federal agencies

Europe's Airbus opens new assembly line for small jets in A380's shadow

The A321neo is the largest version of the A320 series of jets, which was relaunched with new engines in 2010 just in time for a boom in demand stoked partly by low interest rates

Citigroup downgrades US stocks amid recession risks, upgrades Europe

Strategists at the brokerage downgraded UK stocks on a lack of exposure to growth stocks and a stronger pound

India raised questions over Foxconn-Vedanta chip incentive plan -source

Taiwan's Foxconn pulled out of a semiconductor joint venture with Vedanta after India's government raised questions over its application for an incentive scheme for chip production

Oil falls by 1% on China, US economic data, but OPEC+ cuts limit fall

Brent crude futures fell 73 cents, or 0.9%, to $77.74 a barrel by 1005 GMT, and U.S. West Texas Intermediate crude was also off 72 cents, or 1%, at $73.14 a barrel

India's consumption is rising as global prices have eased: Gas importer

Eased gas prices, triggered by the built-up of stocks by European nations, is boosting gas consumption in the price-sensitive Indian market

China's car sales shrink 2.9% in June as big-ticket spending falters

Car sales in June totalled 1.91 million units, down 2.9% from last year, CPCA data showed. It was the first monthly contraction since January

EasyJet cancels 2% of summer flights schedule over air traffic worries

This summer, air traffic control issues are likely to be the weak spot, according to warnings from Eurocontrol, which manages European airspace