Page 955 - Reuters

Record wheat crop, high stocks to help India meet rising global demand

India's new season wheat harvest is underway, with this year's production pegged at a record 111.32 million tonnes - making it the sixth season in a row that the country has produced a surplus.

Euro boosted by Macron lead in French election, dollar near two-year highs

U.S. Treasury yields have soared on expectations of more aggressive tightening by the Federal Reserve, boosting the greenback

Some banks stop credit for oil imports by Rosneft-owned Nayara: Report

HDFC Bank and international banks such as Citibank, JP Morgan, Deutsche Bank and Japan's Mitsubishi UFJ Financial Group have stopped opening and confirming Letters of Credit, say sources

Bombay HC puts on hold CCI probe of top debt trustees

CCI puts on hold an antitrust investigation into trustee units of State Bank of India, Axis Bank and IDBI Bank for suspected collusion on fees; HC asks SEBI to complete inquiry in 60 days

Macron, Le Pen battle out on cost of living in heated runoff campaign

Macron, a pro-European centrist who became president in 2017 after easily beating Le Pen when voters rallied behind him to keep the far-right out of power, is facing a much tougher challenge this time

Palladium extends gains after London hub suspends trading from Russia

Newly refined Russian platinum and palladium was suspended from trading in London from Friday, denying access to the metals' biggest trade hub because of the conflict in Ukraine

Elon Musk drops plans to join Twitter board, deletes weekend tweets

Sources told Reuters that Musk had asked Twitter for a board seat even before the company's invitation

It's not possible to replace potential Russian oil supply loss: OPEC to EU

In the meeting with OPEC, the EU said OPEC could provide more production from its spare capacity, according to an OPEC document seen by Reuters

Record wheat crop, high stocks to help India meet rising global demand

India needs at least 25 million tonnes of wheat each year to run a food welfare programme

Trai recommends 36% reduction in base price of prime 5G spectrum

The government is aiming to begin roll-out of 5G services by end-March 2023 in India, which is the world's second-biggest wireless market with over a billion subscribers

Wall St update: Nasdaq slides 1% as surging yields hit growth stocks

Hip stocks have been among the worst casualties of the tech sell-off, down 22% so far this year compared to the 13.5% decline in Nasdaq

Oil drops below $100 on reserves release and China lockdowns

IEA members to release 60 mn barrels over 6 months; US producers added 13 oil rigs in week to April 8

Shanghai eases lockdown in some areas despite record Covid infections

Move to categorise residential areas promises some relief as complaints continue about tough curbs, enforced quarantine; Sunday's asymptomatic infections at record daily high of 25,173

Palladium jumps 5% on supply fears, inflation risks lift gold

U.S. consumer price index data for March is due on Tuesday, with traders expecting further rises due to the impact of the war in Ukraine on energy costs

Oil slides on release of strategic reserves and China lockdowns

Bank of America maintained its forecast for Brent crude to average $102 a barrel for 2022-23, but it cut its summer spike price to $120

Euro gains respite from Macron's French election lead

Meanwhile, the dollar has been pushed higher by rising U.S. yields and expectations the Federal Reserve will act quickly to stem inflation

Gold dips as firmer Treasury yields, dollar counter Ukraine risks

Spot gold was down 0.2% at $1,942.85 per ounce by 0730 GMT, after hitting a more than one-week high of $1,949.32 earlier in the day. U.S. gold futures were up 0.1% at $1,947.40.

India's March fuel demand jumps 4.2%, hits 3-year high

India's fuel demand rose 4.2% to a three-year peak in March, compared with the year-ago period, data from the Petroleum Planning and Analysis Cell of the oil ministry showed on Monday.

Amul dairy says bracing for sales disruption due to straws ban

India last week refused to waive an impending ban on straws that are packaged with small juice and milk beverage packs

Oil slides on worries about lockdowns in China, release of reserves

Brent crude was down $2.32, or 2.3%, at $100.46 a barrel by 0427 GMT, while U.S. West Texas Intermediate crude lost $2.37, or 2.4%, to $95.89.