Tag: Business
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Stocks hit by Fed rate reality check; oil slips
LONDON, June 23 : Global stocks fell on Tuesday, led by broad-based declines in technology stocks, as investors expect the Federal Reserve to take more aggressive action to tackle inflation, even after a 16 per cent drop in oil prices this month.The STOXX 600 fell 1.2 per cent, under pressure from declines in
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India ‘proactively monitoring’ Telegram over concerns about illegal content, government report shows
NEW DELHI, June 23 : An Indian investigation found that Telegram is being used extensively to share child sexual abuse material and perpetrate financial scams, according to a report by the government, which added it was “proactively monitoring” groups on the messaging app.The 35-page report by the Home Minist
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EU approves €76 million German state aid for cutting edge semiconductor facility
June 23 : The European Commission approved on Tuesday €76 million ($87 million) of German state aid for QuantumDiamonds GmbH, which is planning to set up a cutting-edge semiconductor testing facility in Munich.• The Commission said QuantumDiamonds had agreed to work with small-and-medium-sized enterprises
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How Europe is grappling with extreme heat as red alerts issued in Britain, France, Spain and Italy
Several European countries issued red weather alerts as a fresh bout of extreme heat pushed temperatures beyond 40 degrees Celsius (104 degrees Fahrenheit).
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Oil extends losses as investors focus on Hormuz flows after peace talks
BENGALURU/LONDON June 23 : Oil prices fell on Tuesday, extending losses from the previous session, on signs of some progress in restoring crude flows through the Strait of Hormuz following U.S.-Iran peace talks.Brent crude futures were down 44 cents, or 0.6 per cent, to $77.46 a barrel and U.S. West Texas Int
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Dollar hits one-year high on Fed hike bets; yen nears 40-year low
LONDON, June 23 : The U.S. dollar rose to its highest level in more than a year on Tuesday as traders positioned for a more hawkish Federal Reserve despite oil prices inching lower on ebbing Gulf tensions, while the yen flirted with a four-decade low.Fed funds futures are pricing in more than an 80 per…
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South Korea’s KOSPI tanks nearly 10% to lead tech-fuelled Asia rout
Samsung and SK Hynix shed more than 12 per cent each, triggering an automatic 20-minute bourse-wide trading halt in the afternoon.
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UN chief calls on AI firms to come clean on environmental costs
LONDON, June 23 : The United Nations called on major artificial intelligence companies on Tuesday to publicly disclose the full environmental cost of their data centres and use renewable power, as he launched a transparency initiative for the sector.The rapid development of data centres globally to fuel the A
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Oil falls 1% as investors focus on Hormuz flows after peace talks
June 23 : Oil prices fell more than 1 per cent on Tuesday, extending losses from the previous session, on signs of some progress in restoring crude flows through the Strait of Hormuz following U.S.-Iran peace talks.Brent crude futures fell $1.09, or 1.4 per cent, to $76.81 a barrel and U.S. West Texas Interme
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Dollar firms on hawkish Fed bets; yen near 40-year low
HONG KONG, June 23 : The U.S. dollar held firm on Tuesday as traders positioned for a more hawkish Federal Reserve despite oil prices inching lower on ebbing Gulf tensions, while the yen flirted with a four-decade low.U.S. Treasury yields remained elevated after a jump in the previous session, with those on i
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