Page 800 - Reuters

India festival spending booms despite inflation worries, global slowdown

Online and offline sales during the Hindu festival period starting in the last week of September and lasting until early November are estimated to cross $27 billion

Shanghai quietly shuts schools, gyms and bars as Covid-19 returns

The financial hub reported 47 new infections for Wednesday, the most since July 13 when a brief rise in cases revived fears of another general lockdown.

Russia warns of World War 3 if Ukraine joins Nato military alliance

If Ukraine is admitted into the US-led NATO military alliance, then the conflict in Ukraine would be guaranteed to escalate into World War Three, a Russian Security Council official said

Volatile sterling surges on reports of potential UK fiscal plan U-turn

Sterling surged 1.5% to a one-week high against the dollar at $1.1267 by 1205 GMT after Sky News reported the UK government was looking at which parts of its tax-cutting package might be ditched

Core US inflation rises to 40-year high in Sept, securing big Fed hike

In the 12 months through September, the CPI increased 8.2% after rising 8.3% in August.

Wall Street turns around to trade higher, led by cyclical stocks

Cyclical stocks lead gains, financials jump; headline CPI for September rise more than expected; megacap growth stocks tumble on rapid rate-hike fears

Oil rise nearly a dollar on back of low diesel stocks ahead of winter

Brent crude futures for December delivery rose $1.22 to $93.67 a barrel, a 1.3% gain, by 11:29 a.m EST (1529 GMT), after retreating earlier in the day

Oil prices slip as IEA warns of global recession, dented fuel demand

Brent crude futures fell 23 cents, or 0.3%, to $92.22 a barrel by 1349 GMT. U.S. West Texas Intermediate crude was down 52 cents, or 0.6%, at $86.75 a barrel

Dollar hits fresh 24-year high vs yen after strong US inflation data

Data showed U.S consumer prices increased more than expected in September and underlying inflation pressures continued to escalate

Gold prices slide over 1% as US inflation data fuels rate-hike fears

Spot gold dropped 1.5% to $1,647.80 per ounce by 1319 GMT. U.S. gold futures lost 1.4% to $1,6544.50.

IKEA lets around 10,000 staff go in Russia as it exits the country: Report

IKEA, the world's biggest furniture brand, shut down its Russian stores in March and said it would sell factories, close offices and reduce its 15,000-strong workforce in Russia

Mindtree Q2 net profit rises 27%, beats estimates on strong order wins

Mindtree Ltd reported a 27.5% jump in second-quarter earnings on Thursday, as the Larsen & Toubro Ltd-backed Indian IT services provider secured more outsourcing orders

At 82.34, rupee ends marginally weaker ahead of US inflation test

The rupee ended at 82.3450, compared with its previous close of 82.3150, after trading in a narrow range through the session

BlackRock's Q3 profit falls 16% as market volatility spooks investors

BlackRock's assets under management dropped 16% to $7.96 trn as a stronger dollar also piled on pressure by dampening the value of investments in key European and Asian markets

World stocks slip to near two-year low ahead of US inflation data

The dollar index, which gauges the greenback against six major rivals, barely budged from around 113.25 ahead of the CPI data

Oil prices rise on tight supplies, as IEA warns of global recession

The IEA downgraded its oil demand growth estimates slightly for this year to 1.9 million bpd and by 470,000 bpd in 2023 to 1.7 million bpd

Gold treads water as traders await direction from US inflation data

The US Consumer Price Index (CPI) data due at 1230 GMT is forecast to come in at a hot 8.1% year-on-year in September

India palm oil imports jump to 1-year high in September as discounts widen

The September imports jumped 18% from a month ago to 1.17 million tonnes, the highest since last September, the Solvent Extractors' Association of India, a trade body based in Mumbai, said

Fidelity, HDFC Mutual eye India's Five Star IPO at lower valuation: Report

Five Star Business Finance is planning to make its stock market debut within weeks, with anchor investors including Fidelity Investments in talks to subscribe to the issue

India's palm oil imports rise 18% in Sept, veg oil up 17% MoM: Trade body

India's palm oil imports in September jumped about 18% from the previous month to 1.17 million tonnes, while vegetable oil imports rose about 17% to 1.64 million tonnes, a trade body said on Thursday.