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'Dieselgate': Volkswagen to pay $242 mn to around 91,000 British drivers

Volkswagen (VW) on Wednesday again apologised to customers in England and Wales as it pledged to rebuild trust

US Treasury pushes Russia towards default. What lies next?: An explainer

Russia has around $40 billion of international bonds outstanding, with just under $2 billion in external debt servicing left until year-end

'Most' Fed officials saw 50 bps rate hikes in June and July, show minutes

The 50-basis-point rate increase this month was the first of that size in more than 20 years, and has set the Fed on course for a quick tightening of monetary policy

WEF 2022: India puts 'new reality' on display with Davos street show

Inside a pavilion on the Swiss Alpine resort's Promenade street beneath an "India @ Davos 2022" logo, the federal govt served up treats including 'masala chai' tea, 'samosa' snacks

Wall Street rises on growth stocks ahead of Fed minutes; Nasdaq up 0.8%

Nordstrom climbs after raising profit outlook; Amazon.com and Tesla Inc underpinned the gains on the Nasdaq with advances of 1% and 2.1%, respectively

Putin hikes Russian pensions, plays down Ukraine impact on economy

With annual inflation near 18% last month, the Kremlin leader acknowledged that 2022 would be a 'difficult' year for the Russian economy

India to keep buying 'cheap' Russian oil, discount to be finalised: Report

The official also said India was increasing its dependence on coal due to surging power demand, adding that state-run Coal India will produce more coal in the coming months.

'Vedanta to finalise $20-bn Indian chip, display unit site by mid-June'

Chairman Anil Agarwal said on the sidelines of the annual World Economic Forum the first phase of Vedanta's project will entail an investment of $2 bn

German economy dodges recession in Q1 despite Ukraine war, pandemic

The German economy grew in the first quarter, in line with expectations, despite difficult economic conditions caused by the war in Ukraine and the pandemic

WEF 2022: Govt has no immediate plan to lift wheat export ban, says Goyal

The world's second biggest producer of wheat banned private overseas sales of the grain on May 14 after a scorching heat wave curtailed output and domestic prices hit a record high.

Global MF investors could sell $350-bn worth equities this year: Barclays

MF investors have been net sellers of equities this month, for the first time since August 2020, though equity outflows are tiny compared to the record $1.3-trn inflows since 2020, Barclays said

Oil price edges higher on tight supply and expected demand uplift

By Rowena Edwards

Global stocks edge up before Fed minutes, dollar off one-month low

By Marc Jones

India's palm oil imports may hit 11-yr low of 6.7 mn tonnes as soyoil rises

By Rajendra Jadhav

Gold set to snap 5-session winning run by stronger dollar ahead of Fed mins

By Bharat Gautam

India to start new sugar season with 6.2 million tonnes of stocks

On Tuesday India imposed restrictions on sugar exports for the first time in six years by capping this season's exports at 10 million tonnes

Boris Johnson-led UK government on defensive as 'partygate' report looms

Boris Johnson's government went on the defensive as it awaited an official report into coronavirus lockdown-breaking parties at the UK prime minister's Downing Street office and residence

As Indonesia curbs exports, Indian palm oil imports could fall to 11-yr low

Lower palm oil purchases by the world's biggest vegetable oil importer could put pressure on Malaysian palm oil prices and may lift soyoil imports to record highs and support U.S. soyoil futures price

China's PLA says conducted military exercise around Taiwan to warn US

China's military said on Wednesday it recently conducted an exercise around Taiwan as a "solemn warning" against its "collusion" with the United States

Tightening Covid net, Beijing deals out punishments, stark warnings

Shanghai, which is aiming for a June 1 complete exit from a stringent city-wide lockdown, is gradually and cautiously unwinding COVID curbs