Page 638 - Reuters

Oil prices stabalies as China economic fears counter tight US supply

Brent crude futures edged up 6 cents to $84.95 a barrel by 11:35 a.m. EDT (1535 GMT), while U.S. West Texas Intermediate crude (WTI) fell 2 cents higher to $80.97 a barrel

H&M probes Myanmar garment factory abuses after Zara's walkout talk

Other brands continuing to source from Myanmar have also ramped up monitoring of suppliers through field offices enabling them to conduct their own inspections instead of relying on external audits

UK inflation cools as expected in July but services surprise to upside

Despite the drop, Britain retains one of the highest rates of price growth in Western Europe, with only Iceland and Austria suffering higher inflation in July

Amara Raja Batteries to expand into two-wheeler market to power growth

The company, which owns the Amaron battery brand, aims to penetrate into two-wheeler EV market first with chargers and eventually through battery packs as it expands its so-called 'new energy' segment

Tomatoes on 'vacation' as India battles food inflation, says Burger King

"Even tomatoes need a vacation ... we are unable to add tomatoes to our food," read notices pasted at two Burger King India outlets. The chain has cited quality issues in explaining the shortfall

Indian banks' operating environment strengthens as Covid risks ebb: Fitch

With banks shoring up their capital buffers and cleaning up their balance sheets following the pandemic, their gross non-performing asset ratio has fallen to a 10-year low of 3.9% as of March 2023

Hyundai Motor's India unit to buy General Motors' Maharashtra plant

The South Korean firm said it intends to upgrade the existing infrastructure at the Talegaon unit and start manufacturing in 2025. The plant currently has an annual production capacity of 130,000 unit

Hyundai Motor's India unit to buy General Motors' Maharashtra plant

Through its Sriperumbudur facility outside Chennai city, and now the Talegaon plant, Hyundai aims to increase its achieve a cumulative production capacity of one million units per year

Pakistan hikes petrol, diesel prices for a second time in a month

The price of petrol would be raised by 17.50 Pakistani rupees to 290.45 rupees ($0.9991) per litre effective Aug. 16, the ministry said in a post on X, formerly known as Twitter

Intel to drop $5.4 billion Tower deal after China review delayed: Reports

Intel does not plan to negotiate an extension of the contract, and will instead pay Tower a $353 million break-up fee to walk away, the sources added

India's fuel sales slow down due to monsoon rains, shows prelim data

Fuel demand in India, the world's third-biggest oil importer and consumer, typically falls during the four-month monsoon season beginning in June as parts of the country are affected by heavy floods

Travis King wants refuge from mistreatment, racism in US Army: North Korea

A private in the US Army, King dashed into the North while on a civilian tour of the Joint Security Area (JSA) on the heavily fortified border between the two Koreas

Global household wealth drops for first time since 2008 financial crisis

The largest declines last year came from financial assets, as opposed to non-financial assets such as real estate, which remained resilient

JPMorgan, other top banks likely to face ratings cut, says Fitch Ratings

Stocks sink on downgrade warning

Oil prices drop over 1% due to intensifying pressure of Chinese economy

China's industrial output and retail sales data on Tuesday showed the economy slowed further last month, intensifying pressure on already faltering growth

IndiGo co-founder's family to sell shares worth up to $450 million

The offer floor price for the sale by Rakesh Gangwal and wife Shobha Gangwal is set at Rs 2,400 per share - nearly a 6% discount on the current market price

Oil prices up as China cuts rates twice in 3 months to support economy

Brent crude futures rose 11 cents, or 0.1%, to trade at $86.32 per barrel at 0414 GMT. U.S. West Texas Intermediate crude was up 7 cents, also 0.1%, to $82.57 a barrel

Strong dollar drags gold to over 1-month low after mixed US inflation data

Spot gold was down 0.3% at $1,907.40 per ounce by 02:47 p.m. EDT (1847 GMT), after hitting its lowest since July 6. U.S. gold futures settled 0.1% lower at $1,944.00

Dollar hits highest in more than a month on China economy concerns

Analysts said investors bought the dollar as shelter from concerns about the health of the global economy, particularly China

Oil dips further on China's economic recovery worries, strong dollar

U.S. West Texas Intermediate crude settled down 68 cents, or 0.82%, at $82.51 a barrel. Brent crude futures finished at $86.21 a barrel, down 60 cents, or 0.69%