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Thyssenkrupp, Tata Steel lose fight against EU veto of joint venture

The companies had sought to tackle over-capacity and other challenges in the steel industry via the joint venture but the European Commission said the deal could result in price hikes.

World stocks, oil fall as recession fears mount; yen hits 24-yr low on USD

Enthusiasm that had given Wall Street its best day in a month on Tuesday was suddenly gone as Europe suffered a 1.5% morning drop and Brent crude prices plunged 4%.

Oil slumps $6 a barrel as Biden pushes for U.S. fuel cost cuts

Seven oil companies are set to meet Biden on Thursday, under pressure from the White House to drive down fuel prices as they make record profits

BPCL halves crude runs at Mumbai refinery; plans repairs at other plants

BPCL has shut half of its crude processing capacity at its 240,000 barrels per day (bpd) Mumbai refinery in western India since June 10

Russia pounds eastern Ukraine, Vladimir Putin to mark WWII anniversary

In a symbolic decision, Ukraine is set to become an official candidate for European Union membership on Thursday, EU diplomats said

Global climate goal could be in peril without carbon price reform

A report by the High-Level Commission on Carbon Prices found carbon prices needed to be in the $50-$100 tonne range by 2030 to keep global heating below 2 degrees Celsius

Explained: Amid price hike, why is there a worldwide oil-refining crunch?

Prices were already elevated before Russia invaded Ukraine on Feb. 24. But since mid-March, fuel costs have surged while crude prices are up only modestly

US existing home sales drop to two-year low in May, shows data

Existing home sales fell 3.4 per cent to a seasonally adjusted annual rate of 5.41 million units last month

Desperate Chinese property developer willing to 'swap wheat for house'

Property developers are scrambling to boost sales after a nosedive in transactions in January to May amid China's strict Covid-19 curbs

Moscow fumes after European Union cuts off some shipments: Reuters

On the ground in eastern Ukraine, Russia's separatist proxies said they were advancing towards Kyiv's main battlefield bastion

Biggest rail strike in 30 years over pay and jobs brings UK to standstill

Picket lines appeared at dawn and will be lined by some of the more than 40,000 rail workers who are due to strike on Tuesday, Thursday and Saturday, bringing the network to a standstill

Oil turbulence may last five years, says ExxonMobil CEO Darren Woods

He also pointed out that ExxonMobil is one of the few companies in the US actively investing in refining and had started an aggressive investment programme since 2017

Skincare start-up Mamaearth eyes $3 bn valuation in 2023 IPO: Report

Company, popular in India with its range of 'toxin-free' products last valued at $1.2 bn.

Sri Lanka' May consumer prices soar 45.3% YoY, highest since 2015

A sharp drop in foreign exchange reserves has left the country of 22 million people struggling to pay for essential imports of food, fuel and medicine.

Old is gold: Sky-high cost of ageing ships sounds inflation worldwide

The disruption to world trade caused by pandemic lockdowns and a shortage of new cargo vessels has pushed freight rates for ageing container ships to record highs

Cryptoverse: As crypto markets tumble, lenders face a DeFi drubbing

Crypto lending may not be down and out, but it's certainly on the ropes

Zelenskyy defiant as Russia intensifies attacks in east, seizes territory

Ukraine acknowledged difficulties in fighting in the east of the country as Russian forces captured territory and intensified pressure on two key cities ahead of an EU summit this week

Nomura names Jwalant Nanavati as Southeast Asia investment banking head

Hong Kong-based Nanavati, who joined Nomura nearly four years ago to head its Asia ex-Japan technology, media and telecom (TMT) investment banking team, will take over the new role from July 1

Janet Yellen says gasoline tax holiday worth considering as anti-inflation

Yellen said that research suggested that there was likely a higher pass-through rate for cutting higher state fuel taxes than the generally lower federal taxes

Asian shares rise in early trade as investors pause after steep selloff

Asian stocks and US share futures turned higher on Tuesday as the market took stock after a recent steep selloff