Page 944 - Reuters/workspace/business Standard Web/video

Wall Street slumps as investors fear bigger Fed rate hikes; Nasdaq falls 4%

The Dow Jones Industrial Average fell 1,033.07 points, or 3.03%, to 33,027.99

Central Bank of India to close 600 branches by March 2023, says report

The bank is looking to reduce the number of branches by 600 by either shutting down or merging loss-making branches by the end of March 2023

Gold rises 1% after Fed flags inflation, tones down hawkish bets

Gold is often perceived as a hedge against rising costs

RBI raised interest rates fearing 'shocker' April inflation data: Report

The central bank's move shocked the markets and drove bond yields to multi-year highs. The 10-year benchmark bond closed at 7.40% on Thursday, its highest in three years

Covid led to 15 million deaths globally, not the 5 million reported: WHO

The official count of deaths directly attributable to COVID-19 and reported to WHO in that period, from January 2020 to the end of December 2021, is slightly more than 5.4 million

Musk secures over $7 bn funding from investors for Twitter takeover

The move comes as Musk's margin loan was reduced to $6.25 billion from $12.5 billion announced earlier, according to the filing.

Economists expect higher rate hikes after RBI's hike to tame inflation

Most economists are now forecasting a cumulative 125-150 basis points of rate hikes over the next 12 months, compared with about 50 basis points expected three months ago

Asian equities witness large outflows for fourth straight month

The region's combined net foreign selling during January to April stood at $45.76 billion, the most in the first four months since at least 2008.

EDF hopes to seal EPR nuclear reactor deal in India in coming months

The French state-controlled power group last year had made a binding offer to help build six third-generation EPR nuclear reactors at the Jaitapur site in India's Maharashtra region

India's services activity at 5-month high in Apr despite inflation worries

While input costs increased at the fastest rate in nearly 14 years, prices charged rose at their quickest rate in around half a decade.

Oil edges up 0.3% on EU's sanctions on Russia, proposed crude ban

The sanctions proposal, which was announced by European Commission President Ursula von der Leyen and needs unanimous backing by the 27 EU countries to take effect

Sri Lankan tea pickers' dreams shattered as nation faces economic crisis

The Covid-19 pandemic severed the tourism lifeline of the Indian Ocean nation, already short of revenue in the wake of steep tax cuts by the government.

Over 80 firms including China's JD.com face delisting risk from US

The SEC on Wednesday expanded the list, consisting of US-listed Chinese entities, on a provisional lineup under a 2020 law known as The Holding Foreign Companies Accountable Act.

Asian stock markets firm as Fed tempers aggressive rate hike bets

China's shares defied the broader rally with rising COVID-19 cases and a strict lockdown in the financial hub of Shanghai weighing on sentiment.

As US Fed raises rates to tackle inflation, gold makes a move upwards

Spot gold XAU= was up 0.9% at $1,898.06 per ounce, as of 0102 GMT, after rising 1% earlier in the session

Dollar falls to one-week low as US fed pushes back against 75 bp hike

U.S. central bank is not actively considering a 75 basis point increase, but that additional 50 basis point jumps should be on the table for the next couple of meetings: Jerome Powell

Oil prices extend gains after news of EU's Russian oil ban proposal

A handful of eastern EU countries are concerned that the halt would not allow them enough time to adapt.

India says sudden halt to Russian oil imports would hurt citizens

The European Union, the biggest buyer of Russian energy, on Wednesday proposed phasing out imports of Russian crude within six months and refined products by end-2022

Nepal should engage in monetary tightening to bolster forex, says IMF

Nepal, a landlocked country between China and India, has banned luxury goods imports until mid-July to rein in capital outflows

HSBC and Ping An executives plan to discuss breakup proposal

HSBC earned 52% of last year's total revenue of $49.6 billion from Asia and 65% of its reported profit before tax came from the region