Page 876 - Reuters

US economy contracts 1.6% in first quarter amid record trade deficit

The US economy grew at a robust 6.9% pace in the fourth quarter

Coal ministry seeks help from World Bank to re-purpose abandoned mines

Coal Ministry said it sought assistance from the World Bank and other global institutions for re-purposing its abandoned coal mines to make them stable and suitable for commercial purpose.

UltraTech Cement paying for Russian coal in Chinese yuan: Report

UltraTech importing from Russian producer SUEK, valued at 172.7 mn yuan; SUEK's Dubai unit facilitated trade from Russia's Vanino port; traders say other companies set to pay in yuan for Russian coal

Global stocks in red as consumers fear recession amid inflation trends

Stocks have globally taken a hit as consumers are fearing an impending recession market based on inflation trends in recent times

RBI may need to tweak forex strategy, let rupee weaken, say analysts

To control the tumble, the Reserve Bank of India (RBI) has sold dollars in the spot market and simultaneously bought and sold in the forwards market.

Tata Motors partners with Japan's Renesas to develop chip solutions

As part of the partnership, Renesas will also work with Tejas Networks, a Tata Group company, on wireless network solutions including 5G

Asian stocks fall in early trade amid concerns over recession, oil prices

Chinese blue chips which hit a four week high the day before, lost 0.6% while the Hong Kong benchmark fell 1.3%

Gold prices buoyed by lower US bond yields, possible fed rate hike

Spot gold was up 0.1% at $1,821.57 per ounce by 0254 GMT. U.S. gold futures firmed 0.1% at $1,823.10

Dollar falters as Treasury yields retreat amid recession risks, rate hike

Treasury 10-year yields slid more than 1 basis point in Tokyo, trading to around 3.17% as Asian equities followed Wall Street lower

Oil prices fall after three-day rally; concerns on supply shortage remain

U.S. West Texas Intermediate (WTI) crude futures slid 44 cents, or 0.4%, to $111.32 a barrel at 0150 GMT, giving up earlier gains

G7 discussions with China, India on Russian oil price cap positive: Report

Group of Seven democracies have had positive and productive discussions with China and India about a plan to cap the price of Russian oil, a source familiar with the G7 discussions said

Euro below $1.06 as Christine Lagarde keeps July policy options open

Oil prices are up 10% in barely a week on supply constraint concerns with Brent crude holding above $117, pushing the Canadian dollar and the Australian dollar up 0.3% and 0.4% respectively

Oil rises 2%, extends gains as major producers flag capacity limits

G7 agrees to explore cap on Russian oil price; Macron tells Biden that UAE, Saudi can barely raise oil output; political unrest in Ecuador, Libya could further tighten supply

Novartis to cut up to 8,000 jobs globally to save $1 bn by 2024

As part of the organisational overhaul unveiled in April, Novartis said that the cost cuts would be mainly from removing overlapping structures

Wall Street tumbles as weak consumer confidence stokes growth worries

US consumer confidence tumbles in June; Disney rises as Shanghai's Disneyland theme park to reopen; Nike slips on downbeat quarterly revenue forecast

Dozens missing after Russian missile strike on mall kills 18 Ukrainians

Moscow claims blaze at mall caused by strike on arms depot; 36 people unaccounted for; G7 countries announce aim to cap price of Russian oil

Gold stuck in range as rate hike bets and recession fears collide

Although gold is considered a hedge against inflation and economic uncertainties, rate hikes dim bullion's appeal by increasing the opportunity cost of holding the asset which pays no interest.

Spirit Airlines rejects JetBlue offer, backs merger with Frontier Group

Both JetBlue and Bill Franke-backed Frontier are locked in an intense bidding war for Spirit as they seek to create the fifth-largest airline that can take on the legacy players in the United States

Dollar up, euro down as ECB's Lagarde keeps July policy options open

The ECB is widely expected to follow its global peers by raising interest rates in July to try to check soaring inflation though economists are divided on the magnitude of any rate hike.

EY to pay $100mn to settle US charges of staff cheating on accountant exams

The London-based auditor admitted to the charges and agreed to pay what the SEC said is its largest fine against an auditor