Page 876 - Reuters

US oil giants Exxon, Chevron post blowout earnings, ramp up buybacks

High prices, margins lift majors to best quarters in history; Exxon earnings surpass previous record set in 2012

World stocks eye best month since late 2020, traders bet on weak US economy

As inflation surges across major markets and central bankers fight to raise rates without killing off growth, riskier markets like stocks have tended to react positively to any softening in sentiment

Reliance, Ola Electric, Rajesh Exports agree to build batteries in India

The companies were among four bidders selected by the government in March to build a total of 50 gigawatt hours (Gwh) of battery storage capacity under a PLI programme

Yen shoots for best month in years as growth concerns bring US yields down

The Japanese yen headed toward its best month in almost three years as growth worries have driven US yields sharply lower and squeezed speculators out of crowded short yen positions

IT law takedown provision used to block Krafton BGMI game: Reports

India's government blocked access to Krafton's battle-royale game BGMI under the same provision of its IT law which it has invoked since 2020 to ban Chinese apps on grounds of national security

Rupee at highest in nearly 3 weeks, tracks broad US dollar losses

The Indian rupee strengthened to its highest in nearly three weeks on Friday, tracking broad losses in the dollar on easing concerns over the need for continued aggressive Fed rate hikes

Google blocks Krafton's battle-royale game in India, cites government ban

Alphabet Inc's Google blocked access on Thursday to a popular battle-royale format game from South Korean developer Krafton, citing an order from the Indian government

Asian stocks rally as markets focus on more gradual pace of rate hikes

Economists are debating whether the world's biggest economy (US) is already in or on the verge of a recession, as it battles its highest inflation in four decades and gross domestic product shrinks

Bajaj Finance jumps by 10%; most in two years as profit tops estimates

Shares of Bajaj Finance on Thursday surged 10 per cent, the most in more than two years, after its quarterly profit blew past estimates on strong customer additions and lower bad loan provisions

Oil prices rise on tight supply as attention turns to OPEC+ meeting

Oil prices gained about $1 in early trade on Friday, lifted by supply concerns and a weaker US dollar as attention turns to what OPEC and allies including Russia agree at a meeting next week

L'Oreal bucks declining trend with Chinese sales growth in second qtr

Cosmetics group L'Oreal bucked a declining trend for the luxury and fashion industry in China with sales growing in the second quarter despite Covid-19 lockdowns

Twitter accepts October 17 trial but is concerned Musk will try to delay

Musk has said he needs time to complete a thorough investigation of what he says is Twitter's misrepresentation of fake accounts, which he said breached their deal terms

China targets $148 bn in financing for cash-strapped developers: Report

China's property sector has been lurching from one crisis to another for the past year

Shell smashes record again with $11.5-bn Q2 profit, announces $6-bn buyback

Refining margins triple in second quarter; strong gas and power trading lift profits

Pakistan central bank says FX reserves have fallen by $754 mn to $8.57 bn

"During the week ended on 22-Jul-2022, SBP's reserves decreased by US$ 754 million to US$ 8,575.1 million due to external debt and other payments," the central bank said

Wall Street gains on hopes of smaller rate hikes as economy shrinks again

US economy contracts again in second quarter; Meta Platforms revenue drops for first time; Qualcomm flags weak smartphone demand

Mastercard warns of inflation pinch after solid quarter for card issuers

Consumers across the globe have been showing signs of cracking in face of decades-high price pressures, with purchases at retailers including Walmart shifting away from big-ticket items to essentials

In call with Biden, Xi warns against 'playing with fire' over Taiwan

Chinese state media said Xi told Biden that the US should abide by the 'one-China principle' and stressed that China firmly opposed Taiwanese independence and interference of external forces

Mastercard Q2 profit jumps to $2.3 bn on rebound in cross-border spending

Mastercard Inc sailed past market estimates for quarterly profit on Thursday as a surge in cross-border spending sparked by this year's travel boom more than offset higher costs.

Dollar pares gains as US economic growth contracts for second quarter

The second straight quarterly decline in GDP meets the standard definition of a recession. It comes as the Fed aggressively hikes rates in an attempt to choke off soaring inflation.