Page 653 - Reuters

Foxconn unit in talks for $200 mn components plant in Tamil Nadu: Reports

Brand Cheng, CEO of Foxconn Industrial Internet (FII), and other company representatives last week met Tamil Nadu officials including its chief minister to discuss investments in the state

Fed hikes rates to highest level in 16 years at 5.25%-5.5% citing inflation

The rate hike, the Fed's 11th in its last 12 meetings, set the benchmark overnight interest rate in the 5.25%-5.50% range, and the accompanying policy statement left the door open to another increase

Hyundai, Rolls-Royce profit increases; LVMH sales fail to impress

Boeing flipped to a $149 million loss in the second quarter despite higher revenue, as the plane maker struggled with higher costs in both its airline and defense business

Hilton beats Wall Street Q2 estimates on rebounding travel demand

The company's revenue per available room, or RevPAR, an important metric in the hospitality industry, rose about 12% in the quarter from a year earlier

FTC readies antitrust lawsuit against Amazon that could break up company

The wide-ranging lawsuit is expected as soon as August and will likely challenge a host of Amazon's business practices, the report said

Microsoft lays out spending plan to meet artificial intelligence demand

Wall Street is looking at how generative AI services may benefit Microsoft, which secured an early lead with investments in OpenAI, owner of the popular ChatGPT service

Google search engine emerges unfazed from Microsoft's Bing challenge

The world's fourth most valuable firm was set to add more than $100 billion to its market capitalisation, based on premarket movements

Working with Pratt & Whitney amid latest engine probe, says IndiGo

IndiGo operator InterGlobe Aviation said on Wednesday it is working with Pratt & Whitney to assess any potential impact on its fleet

Centre proposes to sell upto 5.36% from its 78.2% stake in Rail Vikas Nigam

The Indian government will sell a stake of up to 5.36% in state-owned Rail Vikas Nigam this week, in a deal that could fetch 13.3 billion rupees ($162.12 million), an exchange filing showed

Dollar slips before Fed decision, euro rises on ECB rate hike bets

The dollar index, a measure of the US currency against six major peers, fell 0.109% but was close to an almost two-week high touched on Tuesday

BRICS' NBD not considering new projects in Russia, says bank head

The New Development Bank (NDB), the multilateral bank set up by the BRICS states, is not considering new projects in Russia

Mahindra & Mahindra picks up 3.53% stake in RBL Bank for $51 million

Multiple block deals were seen in RBL Bank on Wednesday and the stock ended up 7.1%

PMO probing dumping of Chinese stainless steel, said Abhyuday Jindal

Stainless steel producers have petitioned the government to impose countervailing duty (CVD) on Chinese stainless steel products

Jindal Stainless posts 50% jump in Q1 profit on robust domestic demand

Domestic sales grew 54% year-on-year owing to the pre-festive season demand, which picked up in consumer segments, the company said in a statement

Tax council to meet on Aug 2 to finalise online gaming tax: Report

Since the first announced its plan for the tax on Jul 11, the gaming industry and its investors have asked it to review the decision, which will increase the tax burden on both companies and consumers

Foxconn, chip giants head to Modi's home state for India conference

India wants to establish itself as a semiconductor manufacturing hub, rivaling the likes of Taiwan, and the high demand for chips means the local market will be worth $80 billion by 2028

REC posts 21% rise in Q1 profit aided by interest income on loan assets

Interest income on loan assets, which accounts for 94.4% of revenue from operations, rose nearly 13% to Rs 10,465 cr

Teamlease sees drop in profit again as rising costs, IT slowdown bite

The company, which hires and trains people in various skills before supporting their placements, said consolidated net profit fell 0.5% to 264 million rupees ($3.22 million) in the April-June quarter

Tomato price shock hits Indian restaurants, cheaper puree sales boom

Tomato prices on Wednesday in New Delhi were 199 rupees/kg, from around 30 rupees in April. Puree prices have so far not changed

Cambodia's Hun Sen to step down as PM, Hun Manet to take over as leader

The newly elected parliament would convene on Aug 21 and a new cabinet would be sworn in on Aug 22, Hun Sen said