Tag: Business
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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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Orion CMC in advanced discussions for three Asian partnerships
MELBOURNE, June 23 : Orion Critical Mineral Consortium, a minerals investment group backed by the U.S. government, is in advanced discussions to establish three new public-private partnerships in Asia as it seeks to fund a $20 billion global pipeline of opportunities, executives told Reuters. The consortium
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Indian startup head Kunal Shah appointed as new WhatsApp boss
MUMBAI: Meta has tapped Indian fintech founder Kunal Shah as the new head of WhatsApp, as the US tech giant seeks ways to monetise the messaging app’s massive user base.The announcement, made Monday night (Jun 22), was accompanied by news that Meta would also lead a
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Exclusive-Nissan shelves development of electric Qashqai in cost-cutting drive
TOKYO, June 23 : Nissan has stopped work on an electric version of its top-selling model in Europe, six sources with knowledge of the matter said, as the Japanese automaker trims its lineup and cuts costs.The move to quietly halt development of a fully electric Qashqai comes as traditional rivals and new Chin
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EV demand powers Europe car market in May, Chinese rivals expand share
June 23 : Demand for electrified cars continued to underpin growth in Europe’s auto market in May, offsetting a sharp decline in petrol and diesel sales and allowing Chinese brands to expand their footprint, data from the European Automobile Manufacturers’ Association (ACEA) showed on Tuesday.Total car regi
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