LARGIE

Petroleum and oil marketing companies reduced the price of commercial LPG cylinders by Rs 91.50 per unit with immediate effect from Saturday, sources said. A 19 kg of commercial LPG cylinder will now cost Rs 2,028 in the national capital. However, no changes have been made in the prices of the domestic LPG cylinders, sources said. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/VCiK86t via IFTTT

Russia's G20 sherpa Svetlana Lukash says there is no place and time in the all-powerful group to discuss one regional conflict that has dominated the minds of western nations. In an interview to TOI, she said many G20 countries are concerned about the banking crisis and it should be analysed. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/eQ25L3b via IFTTT

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India's new foreign trade policy, set to begin in April, will facilitate international trade using the rupee currency, according to Commerce Secretary Sunil Barthwal. The move will allow the nation to trade in rupees with countries facing a shortage of dollars, and will aim to effectively boost exports. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/XIclJgF via IFTTT

Among the Sensex firms, Reliance Industries emerged as the biggest gainer as it jumped over 3 per cent. HCL Technologies, ICICI Bank, Nestle, Tech Mahindra, Infosys, Power Grid, NTPC and Axis Bank were the other major winners. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3208F61 via IFTTT

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Wall Street stocks climbed Thursday as markets calmed after recent banking sector turmoil. The Dow Jones Industrial Average rose 0.4 percent to 32,859.03, while the broad-based S&P 500 picked up by 0.6 percent to 4,050.83. The tech-heavy Nasdaq Composite Index jumped 0.7 percent to 12,013.47. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/RikMFAQ via IFTTT

Advertisers continue to be wary of Twitter's changes under the ownership of Elon Musk. Major brands including Amazon, Coca-Cola, Hilton Worldwide, and Merck have yet to resume ad spending on the platform. Between September and October 2021, the top 10 advertisers on Twitter spent $71m on ads, but in the past two months, this figure has dropped to just $7.6m, a decline of 89%. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Zo7RvHY via IFTTT

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Ajay Banga, an Indian-American businessman, is most likely to become the next President of the World Bank as the deadline for nominations expired with no alternative proposals. Banga, who served as the former chief of Mastercard Inc. and Vice Chairman at General Atlantic, is expected to replace the current president, David Malpass, who will step down in June. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/XZJO6AS via IFTTT

Embattled Adani Group is looking at a 20 per cent growth in earnings across businesses spanning from sea ports to airports, edible oil and commodities, energy, cement and data centres, to repay about $23 billion of debt over the next 3-4 years in a comeback strategy, sources said. Adani group executives have met bankers, bond holders, analysts and investors from Singapore to the US in the last three weeks to address stakeholders' concerns in the aftermath of a damning US short seller report that ripped off $135 billion in market value of listed companies of the conglomerate. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/LdikQ8w via IFTTT

India's largest conglomerates have contributed to elevated inflation in the country and should be broken up, according to former Reserve Bank of India deputy governor Viral Acharya. The so-called “Big 5” – Reliance Group, Tata Group, Aditya Birla Group, Adani Group and Bharti Telecom – have grown at the expense of smaller local firms. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/PWlS4g5 via IFTTT

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Ratings agency Fitch said that Adani Transmission Ltd and Adani Ports and Special Economic Zone are prone to risks, according to a note released late on Tuesday. Seven listed firms of the Adani group have shed over $120 billion in market value since the publication of the Hindenburg report. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/g8dykwL via IFTTT

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Adani group's plans to renegotiate terms on $4 bn of loans have raised concerns over its ability to repay its debts, according to a report by The Economic Times that sent shares tumbling. It has also been suggested that regulatory filings show banks have not released much of Gautam Adani's pledged shares, but the statement claimed that all "share-backed facilities availed by the promoters have been paid off". from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/gDMqtza via IFTTT

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India's growing wealthy middle class is changing the country's $1tn sovereign bond market, whereby its savings - invested via life insurers, provident and pension funds - are increasingly funnelled into long-term debt, said sources, reducing the reliance on banks and easing trader anxiety over India's infrastructure projects. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/1Y2PLnE via IFTTT

Lyft founders Logan Green and John Zimmer will step down from their CEO and president roles to be replaced by board member David Risher. Risher, a former executive at both Amazon and Microsoft, will take charge of the ride-hailing firm amid pressure to better compete with larger rival Uber. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/REQUsPW via IFTTT

The S&P 500 closed up Monday, thanks to a deal that saw First Citizens BancShares buy Silicon Valley Bank. The acquisition will help to shore up the failed bank’s deposits and loans. Banks stocks enjoyed upward momentum with the S&P 500 banks index rising 3.1% and the KBW regional banking index up 0.6%. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/caF1LlP via IFTTT

Walt Disney Co. has begun the first of what is expected to be 7,000 job cuts, a key part of a $5.5 billion savings drive the company announced in February. The first group of employees will be notified over the next four days, chief executive officer Bob Iger said in a memo to staff on Monday. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/X8H6hlL via IFTTT

Oyo Hotels is reducing the shares it plans to sell in its stock-market debut by about two-thirds, as founder Ritesh Agarwal aims to push through an IPO even at weaker terms to alleviate the financial pressures on the company, which is still reporting mounting losses. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/CBbN1iD via IFTTT

First Citizens BancShares Inc has agreed to buy Silicon Valley Bank after the latter fell prey to a run by depositors. First Citizens entered into a purchase and assumption agreement covering all deposits and loans of SVB at a discount of $16.5 billion, as well as the purchase of $72 billion SVB assets. FDIC will be selling off securities and other assets, amounting to around $90 billion. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/GN8wHUy via IFTTT

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Drugmaker Sun Pharmaceutical Industries Ltd would see a revenue drop in a few of its businesses and incur some expenses due to an "IT security incident" that happened earlier this month. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/A9sotRQ via IFTTT

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A year ago, lenders were wooing homebuyers with a decadal low-interest rate of 6. 5%. But in the last 10 months, home loan borrowers have seen a sharp 250-basis-point (100bps = 1 percentage point) increase in interest rates. Those who borrowed at 6. 5% in April 2022 are now billed 9%, resulting in their repayment tenure extending beyond retirement. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/uTw2DyR via IFTTT

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Sitharaman advised the PSBs take steps to attract the deposits given the steps taken by the government to reduce the tax arbitrage in some debt instruments. She also asked them to pivot their strengthened financial position to support credit needs of the growing economy and focus on credit outreach in states where the credit offtake is lower than the national average, particularly in northeast and eastern parts of India. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/RsyIMC8 via IFTTT

Intel Corp co-founder Gordon Moore, a pioneer in the semiconductor industry whose "Moore's Law" predicted a steady rise in computing power for decades, died Friday at the age of 94, the company announced. Intel and Moore's family philanthropic foundation said he died surrounded by family at his home in Hawaii. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/1JCy57W via IFTTT

“I think we’ve done a pretty damn good job. People’s savings are secure,” Biden said during a press conference on Friday in Ottawa alongside Canadian Prime Minister Justin Trudeau. “I think it’s going to take a little while for things to just calm down, but I don’t see anything that’s on the horizon that’s about to explode.” from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/UyIPhdf via IFTTT

Apple CEO Tim Cook attended the China Development Forum and highlighted the company’s ties to China, despite growing tensions between Beijing and Washington. Apple depends on China for around 20% of its sales, and Cook's relationship with the Chinese government is seen as crucial to maintaining this. However, the partnership has faced criticism over compliance with Chinese laws on censorship and data storage. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ojv9KUZ via IFTTT

Wall Street managed to shake off a weak start on Friday and closed on a higher note despite concerns over banks weakening under higher interest rates. The benchmark S&P 500 rose 0.6%, the Dow Jones Industrial Average rose 0.4% while Nasdaq Composite ended 0.3% higher. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/6YtUWyk via IFTTT

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Dorsey’s fortune plunged by $526 million on Thursday, his worst single-day decline since May. He’s now worth $4.4 billion after the 11% drop, according to the Bloomberg Billionaires Index. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/NpmCRyd via IFTTT

Wall Street rebounded after US Treasury Secretary Janet Yellen reassured that measures would be taken to keep Americans' deposits safe, boosting growth shares in the Nasdaq. The Dow Jones Industrial Average rose 75.14 points, or 0.23%, to 32,105.25, the S&P 500 gained 11.75 points, or 0.30%, to 3,948.72 and the Nasdaq Composite added 117.44 points, or 1.01%, to 11,787.40. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/BhENYs2 via IFTTT

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Equity benchmark Sensex and Nifty ended on a positive note on Wednesday, mainly due to buying in healthcare, financial and commodity stocks amid a firm trend in global equities.Continuing its previous day's rally, the 30-share BSE Sensex advanced 139.91 points or 0.24 per cent to settle at 58,214.59. During the day, it jumped 344.1 points or 0.59 per cent to 58,418.78. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/J1kloZH via IFTTT

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