Page 653 - Reuters

Fitch downgrades US credit rating to AA+, Treasury calls it 'arbitrary'

Fitch downgraded the United States to AA+ from AAA, citing fiscal deterioration over the next three years and repeated down-the-wire debt ceiling negotiations

Rupee expected to decline on poor risk appetite, weakness in Asian peers

Non-deliverable forwards indicate rupee will open at around 82.32-82.34 to U.S. dollar compared with 82.2550 in the previous session

Ambuja Cements to acquire majority stake in Sanghi Industries: Reports

Adani Group is India's second largest cement producer, behind UltraTech Cement. It owns Ambuja and its subsidiary ACC Ltd, which have a capacity to produce more than 65 million tonnes

BP logs 70% dip in second-quarter net profit, raises dividend by 10%

BP's net income, missed expectations of $3.5 billion

BlackRock, MSCI draw scrutiny from US congressional committee on China

Last month, China curbed exports of some metals widely used in the semiconductor industry, in a move it said was aimed at protecting national security

Uber forecasts quarterly operating profit above estimates on ride demand

Uber Technologies on Tuesday forecast third-quarter operating profit above Wall Street expectations as it sees growing demand for ride hailing

Bosch Ltd to increase manufacturing in India to pare component import

The technology supplier plans to increase the percentage of goods produced locally in India to bring down its imports of components

'Govt asks Tesla to copy Apple in pairing Chinese, Indian suppliers'

Tesla wants to use some Chinese vendors, India wants workaround

India should exclude premium rice variety from export ban: Trade body

India should allow exports of 1 million metric tons of a premium non-basmati rice variety favoured by overseas Indians, which are struggling to secure staple after New Delhi banned the exports

Tribhovandas Bhimji Zaveri reports five-fold jump in profit in June quarter

BENGALURU (Reuters) - Indian jeweller Tribhovandas Bhimji Zaveri reported a nearly five-fold jump in first-quarter profit on Tuesday

Redington reports 21% fall in quarterly profit as expenses mount

Redington reported a 21% fall in quarterly profit, as the technology devices distributor wrestled with higher expenses at a time when demand for work-from-home equipment also slowed

Godrej Agrovet posts higher profit at 27.3% for June quarter as costs drop

The company's consolidated net profit rose to 1.05 billion rupees ($12.8 million) in April-June, from 827.1 million rupees a year ago

Hollywood saves India's PVR Inox as Bollywood bombs at box office

International cinema helped India's biggest movie operator PVR Inox post a rise in first-quarter revenue as Hindi films failed to bring moviegoers to theatres

Pfizer misses revenue estimates as Covid-19 product sales decline

The company has said it expects 2023 to be a low point for COVID product sales following strong demand at the peak of the pandemic before a potential return to growth in 2024

Govt orders firm linked to Cameroon cough syrup deaths to stop production

The move comes as Indian regulators step up inspections at drugmakers after cough syrups made in the country were linked to the deaths of dozens of children overseas, denting India's image as the "pha

RBI tells banks it is ready, able to manage Russian fund outflows

Amid Western sanctions that restrict Russia's use of the US dollar for trade, India paid in other currencies, including the dirham, yuan and rupee, which local banks hold in special accounts

Meta prepares AI-powered chatbots in attempt to retain users: Report

The report comes as Meta executives are focusing on boosting retention on its new text-based app Threads, after the app lost more than half of its users in the weeks following its launch on July 5

Amazon to invest $7.2 bln in Israel, launches AWS cloud service in region

Amazon's cloud services in the region will allow the country's government to run applications and store data in data centers located in Israel

July goods and services tax receipts rise 11% YoY to Rs 1.65 trn

India's goods and services tax (GST) collections rose 11% from a year earlier to 1.65 trillion rupees ($20.05 billion) in July, a government statement showed on Tuesday

Heavy rains dampen Indian retailers' gasoil, gasoline monthly sales in July

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