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SVB says Goldman Sachs was the buyer of portfolio it booked losses on

The loss on the portfolio was the reason SVB, a technology-focused lender known as Silicon Valley Bank, attempted a $2.25 billion stock sale last week using Goldman Sachs as an adviser

Oil prices recoup losses after OPEC upgrades China demand outlook

The Organization of the Petroleum Exporting Countries (OPEC on Tuesday further raised its forecast for Chinese oil demand growth in 2023 due to the relaxation of the country's COVID-19 curbs

India likely to keep April-Sept borrowing under 60% of FY24 goal: Report

India aims to raise 15.43 trillion rupees ($187.18 billion) from the market in the financial year starting April 1, higher than the 14.21 trillion rupees it raised this year

Shriram Finance looking to sell 15% stake in housing finance arm: Report

Shriram Housing Finance Ltd., which offers home loans, largely in the affordable housing segment, has received interest from several private equity players, including BPEA EQT, formerly Baring PE Asia

No contagion seen on Indian bonds, forex from SVB collapse: DBS Bank

"The dollar index is not stretching as the typical risk-off scenario. Unless commercial activity drops across the world, which does not seem to be the case, we may not see any major impact"

US says Russian jet caused spy drone crash, Moscow denies collision

Russia's defence ministry denied that its aircraft had come into contact with the unmanned aerial vehicle (UAV), which it said had crashed after "sharp manoeuvring"

Facebook-parent Meta to cut 10,000 jobs in second round of layoffs

With the latest move, Meta expects expenses in 2023 to come in between $86 billion and $92 billion, lower than the $89 billion to $95 billion forecast previously

Govt's new security testing plan targets pre-installed phone apps

Smartphone players often sell their devices with proprietary apps, but also sometimes pre-install others with which they have monetisation agreements

Google unveils 'magic wand' for emails and documents: Report

Alphabet also said its AI will be able to summarise message threads in Gmail, craft slide presentations, personalise customer outreach and take meeting notes as part of its upgrade to Google Workspace

US inflation up, keeps Federal Reserve on track for interest rate hike

Food prices rose 0.4 per cent, with the cost of food consumed at home gaining 0.3 per cent

SVB fallout: JPMorgan, other US biggies flooded with newer clients

As per the report, even US govt's emergency measures to stop the collapse of more banks have not stopped depositors from trying to move their accounts to larger banks or to shift to money market funds

SVB collapse: Moody's changes outlook on US banking system to 'negative'

Lenders that had "substantial" unrealized securities losses and uninsured deposits may be hurt more as customers look for safer alternatives to park their funds

Amazon targets 2024 launch of its first Kuiper internet satellites

Amazon's satellite internet unit, Project Kuiper, will begin mass-producing the satellites later this year, the company said

Bitcoin jumps to highest since June as global markets rally gathers pace

Bitcoin jumped as much as 9.6% to $26,533, its highest since June 2022, in its fourth straight days of gains

CCI clears Reliance's over $300 million buy of Metro's local business

Metro has been active in the Indian market since 2003 and reported sales of about Rs 7,700 crore for the financial year ended September 2022

Honeywell International names Vimal Kapur, a 34-year company veteran as CEO

(Reuters) - Diversified manufacturer Honeywell International Inc said on Tuesday Vimal Kapur, a 34-year company veteran, would succeed Darius Adamczyk as chief executive officer on June 1

Volkswagen plans to invest $193 bn in batteries in race for affordable EV

Volkswagen is striving to close a gap with electric vehicle (EV) pioneer Tesla by expanding its slice of the growing market for battery-powered cars

Apollo Global to acquire Univar in $8.1 billion deal, says report

Shares of Univar rose nearly 14% to $35.40 in premarket trading

India to continue with rate hikes despite global cenbank rethink: Analysts

India's headline and core inflation has been unrelenting, with data post market close showing annual retail inflation remained above the Reserve Bank of India's (RBI) upper limit, easing only slightly

Silicon Valley Bank conducting business as usual, says new CEO amid crisis

Earlier in the day, the US Federal Deposit Insurance Corporation had tapped former Fannie Mae head Mayopoulos as CEO of the newly created entity, named Silicon Valley Bank N.A