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Banking system 'strong enough to survive' policy rate changes: FinMin study

Probability of event like Silicon Valley Bank's collapse in the US happening in India significantly less, says ministry's monthly review

Oil stable as investors ponder strong travel demand in China, rate hikes

Brent crude fell 3 cents to $82.70 a barrel at 0620 GMT, while US West Texas Intermediate crude also eased 3 cents to $78.73 a barrel

Biden's 2024 campaign likely to mirror his messaging, policy in past months

President Joe Biden's reelection campaign has been hiding in plain sight all along. The contours of the 2024 campaign that Biden will formally launch with a video as soon as this week will look a lot like his messaging and policy moves from the past few months: Play up accomplishments from his first two years, draw a sharp contrast with Republican policies he deems extreme, and brush off worries about his age. Biden, aides contend, has essentially been campaigning since Republicans took control of the House last year, focused on showing Americans how his administration is implementing massive new infrastructure, technology and climate laws, and portraying Republicans as in the grip of the far right at a time when Washington is nearing a crucial fight over raising the nation's borrowing limit. While advisers say Biden's activities and message in coming months will be largely indistinguishable from what he's been doing over the last six months, the frame of reference will inevitably .

Indian, US fighter jets take part in joint exercise at Bengal's Kalaikunda

Fighter jets of the air forces of India and the United States took part in a joint exercise at Kalaikunda Air Force Station in West Bengal's Paschim Medinipur district, an official said on Monday. As part of the Cope India 2023 exercise, five top-notch fighter jets of the two air forces took off in quick succession from the air force base. The Indian Air Force has employed Tejas, Rafale, Jaguar and Su-30 MKI fighter jets while F-15 is representing the United States Air Force in the exercise. The exercise, which began on April 10, will conclude on Monday. A simultaneous 12-day exercise of transport aircraft was held at Panagarh Air Force Station in Paschim Bardhaman district from April 10.

Fox's settlement with Dominion unlikely to cost it $787.5 million

Fox Corp.'s USD 787.5 million settlement with Dominion Voting Systems over defamation charges is eye-popping, but the ultimate cost to the media company is likely to be much lower. On Tuesday, Fox settled with Dominion over charges that Fox News baselessly accused the company of rigging its voting machines against former President Donald Trump in 2020. It was the most-watched media libel case in decades. Fox had about USD 4 billion of cash on hand as of December 2022, and MoffettNathanson analyst Robert Fishman expects the company to pay the settlement during the current quarter. How much the lawsuit will actually end up costing Fox is unclear because there are ways it can defray some of the expense, primarily through insurance and the use of tax deductions. Fox can deduct the Dominion settlement from its income taxes as an expense necessary for the cost of doing business. Fox Chief Communications Officer Brian Nick has confirmed the deductibility of the settlement. Big companies

Temporary pause in US shipments from Sun Pharma's plant in Mohali

It implies that company has to take corrective action before releasing further batches to the US

US President Biden prepares to announce re-election campaign next week

US President Biden and his team are preparing to announce his re-election campaign next week

Oil prices extend losses on fears of recession, slower oil demand

Oil prices eased on Friday, extending losses from the two previous days and heading for a weekly decline, as softening U.S. economic data and a rise in US gasoline inventories raised concerns about

Major defence collab in work to make modern equipment in India: US official

A major India-US bilateral defenCe collaboration is in the works for India to make sophisticated modern defenCe equipment, the Biden administration's point person for South and Central Asia said on Thursday, hoping an announcement in this regard will be made in the next few months. I think it makes eminent sense for India to produce world-class defence equipment for its own needs, and potentially as an exporter, for the world, US Assistant Secretary of State for South and Central Asia Donald Lu told PTI in an interview on Thursday. The senior State Department official, however, refrained from giving details of the major defence collaboration to manufacture modern and sophisticated defence equipment in India. We are already major partners in the defence field. We, over the last 20 years, have had a defence trade of over USD 20 billion. And I know our private companies and our governments, our ministries of defence are talking on a regular basis about how we cooperate, he said. Lu ..

Fed to deliver 25-basis-point hike in May, stay on hold rest of year: Poll

Nearly 90% - 94 of 105 - of the economists who participated in the latest poll, predicted the US central bank would hike its key policy rate by 25 basis points

Fox Corp expects no operational impact from defamation lawsuit settlement

Fox declined to say whether insurance would help offset the payment

Netflix sees stronger second half on password-sharing crackdown in US

The company, which reported a lower-than-expected subscriber gain for the first quarter, has been testing ways to reduce account sharing in Latin America, and rolled out a plan to charge such users

Joe Biden, wife paid 23.8% taxes on $579,514 earnings, returns show

President Joe Biden and his wife, Jill, made $579,514 last year and paid $137,658 in federal income taxes. That works out to a 23.8 per cent tax rate, more than the average of roughly 14 per cent for all US households. The Bidens' earnings have trended slightly downward over the past three years, after averaging more than $600,000 in 2020 and 2021. The median US household income was $69,717 in 2021, according to the US Census Bureau. The White House on Tuesday released the tax returns of the Bidens and Vice President Kamala Harris and her husband, Doug Emhoff. This once routine rite of passage for presidents and aspirants to the Oval Office became a source of controversy under Biden's predecessor, Donald Trump, who declined to release his taxes and ultimately had six years' worth of returns released last year by a House committee. The Bidens' income has dropped since 2019, when they earned nearly $1 million, primarily from book sales, speeches and their teaching positions at the ...

4 killed in US's Maine home; 3 wounded in linked highway shooting

Four people were fatally shot at a house in Maine on Tuesday shortly before gunfire wounded three others on a busy highway, in a pair of crimes that are linked, authorities said. Hours later, a man was charged with murder. Police closed a portion of the interstate highway and residents and businesses in the area were ordered to shelter in place for about 90 minutes before authorities determined there was no threat to the general public. The shootings are among a spate of recent mass killings that have shaken communities both large and small, including a Christian elementary school in Nashville, Tennessee; a bank in Louisville, Kentucky and a Sweet 16 party in a small city in Alabama. In Maine, police charged Joseph Eaton, 34, of Bowdoin, with four counts of murder Tuesday evening but declined to discuss a possible motive for the shootings or identify the shooting victims. Eaton was expected to appear in court later this week. The crimes began in rural Bowdoin, where the bodies were

LIVE: WTO panel rules against India in IT tariffs dispute with EU, others

Catch live updates from around the globe here

Low diesel demand in China, US, Europe triggers global recession fears

Diesel demand can act as a leading indicator for broader growth as an early sign that spending by households is waning," said Ben Ayers, a senior economist in the US with Nationwide Economics

4 killed, 15 injured in mass shooting during birthday party in Alabama

Four people were killed, and 15 others sustained bullet injuries in a mass shooting during a birthday party in the southern US state of Alabama on Saturday night, CNN reported

NPR stops using Twitter after Elon Musk's "state-affiliated media" remarks

"NPR's organizational accounts will no longer be active on Twitter because the platform is taking actions that undermine our credibility by falsely implying that we are not editorially independent"

Tension on Taiwan Strait: What is the dispute between China and Taiwan?

The tensions between the two states on either side of the Taiwan Strait have remained high since World War II. Here is a look at the brief history of the conflict

Oil steady after surprise build in US crude stocks offset supply concerns

Oil prices were little changed in early trading on Wednesday after industry data showed an unexpected build in U.S. crude and gasoline inventories, offsetting concerns about tightening supply