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India sweats over worst power cuts in six years during extreme heat

Industrial disruption and widespread power cuts are bad news for corporate India, as economic activity has just started to pick up after months of stagnation

Ukraine accuses Russia of stealing grain from occupied territory amid war

Asked about the allegations, the Kremlin said it had no information on the matter

Elon Musk's initial 9% stake purchase inTwitter under FTC scrutiny: Report

The FTC is looking into whether Musk complied with an antitrust reporting requirement when he bought his stake in the social media company in early April

India to launch open e-commerce network to take on Amazon, Walmart

The government's so-called ONDC platform will allow buyers and sellers to connect and transact with each other online, no matter what other application they use

Vedanta seeks free land, power in race to be India's 1st chipmaker: Report

Vedanta has told state governments that its operations would help them generate $2.2 billion in tax revenues over 20 years and create up to 100,000 direct and indirect jobs, said the first source

US says Russia plans fake independence votes in seized Ukraine territory

Washington has said it hopes Ukrainian forces can not only repel Russia's assault on the east but also weaken its military so that it can no longer menace neighbours

Tata Motors aims to build 80,000 EVs this financial year: Report

That compares with the 19,000 EVs it built and sold in the last financial year

Volkswagen, BP could expand e-car charging alliance to other regions

Volkswagen also has European charging cooperations with Italy's Enel and Spain's Iberdrola, with Diess saying there would soon be an update on the latter alliance

Omicron, trade weigh on US economy in first qtr; GDP declines at 1.4% rate

The first decrease in gross domestic product in nearly two years was mostly driven by a wider trade deficit as imports surged, and a slowdown in the pace of inventory accumulation

Wall Street inches higher as Meta earnings offset GDP gloom; Dow up 90 pts

The slump in output reflected a wider trade deficit and moderate pace of inventory accumulation

Russia's Gazprom says 2021 net profit jumps to almost $28 billion

The company said its 2021 sales increased to 10.2 trillion roubles from 6.3 trillion roubles in 2020

Brexit: UK and EU at impasse over changes to Northern Ireland protocol

The two sides have been trying for months to overcome a deadlock over the Northern Ireland protocol, which sets the trading rules for the British region that London agreed before it left the EU

OPEC+ likely to stick to existing deal and raise June output by 432,000 bpd

Under a deal reached in July last year, the group is set to increase output targets by 432,000 bpd every month until the end of September, to unwind its remaining production cuts

Minister says India stands by social-media demands as Musk moves on Twitter

'Our safety and trust expectations in law and rules require all intermediaries to do due diligence about its users and content to qualify to be an intermediary,' he said

Dovish Bank of Japan sends yen to 20-year low, pressure on euro grows

The dollar rose past the psychological level of 130 yen on Thursday for the first time since 2002, after the Bank of Japan (BOJ) doubled-down on its super-low yield policy

Heat wave disrupts industrial activity as power demand soars in India

Extreme heat continued to scorch large swathes of south Asia this week, offering no reprieve after the hottest March on record in India

Oil fall as China fuel demand concerns linger due to Covid restrictions

Brent crude futures had fallen 62 cents, or 0.59%, to $104.70 a barrel by 0712 GMT. U.S. West Texas Intermediate crude futures slipped 48 cents, or 0.47%, to $101.54 a barrel

Unilever hikes prices by more than 8% as cost pressures build

Unilever beat first-quarter sales forecasts as the maker of Dove soap and Ben & Jerry's ice cream hiked prices by more than 8% to offset higher supply chain and energy costs

India launches antitrust raids on Amazon sellers Cloudtail, Appario: Report

India's antitrust body launched raids at two top sellers of Amazon.com Inc over violations of domestic competition laws, two sources with direct knowledge of the matter said

Global economic growth risks jolt inflation-obsessed financial markets

The International Monetary Fund and World Bank fanned growth fears further last week when they cut 2022 global forecasts by nearly a full percentage point