GM to start making Silverado electric pickups late next year in Detroit - source
Business

GM to start making Silverado electric pickups late next year in Detroit - source

By Paul Lienert (Reuters) - General Motors Co is planning to start production of Chevrolet Silverado electric pickup truck late next year at its Detroit-Hamtramck assembly plant, a source familiar with the U.S.

Bezos, Musk top Forbes' record-setting billionaire list
Business

Bezos, Musk top Forbes' record-setting billionaire list

By Sheila Dang (Reuters) - Forbes' annual world's billionaires list includes a record-breaking 2,755 billionaires, with Amazon.com Inc founder Jeff Bezos topping it for the fourth consecutive year, the media company said on Tuesday. The ranks of the ultra-wealthy are expanding after a year in which the coronavirus pandemic upended world economies and threatened the livelihoods of people across the globe.

Oil gains over 1% on strong U.S., China economic data
Business

Oil gains over 1% on strong U.S., China economic data

By Stephanie Kelly NEW YORK (Reuters) - Strong economic data from China and the United States helped lift oil prices by more than 1% on Tuesday, recouping some of the previous session's losses.

U.S. job openings jump to two-year high in boost to labor market
Business

U.S. job openings jump to two-year high in boost to labor market

By Lucia Mutikani WASHINGTON (Reuters) - U.S. job openings rose to a two-year high in February while hiring picked up as strengthening domestic demand amid increased COVID-19 vaccinations and additional pandemic aid from the government boost companies' needs for more workers

IMF projects India’s growth rate to jump to 12.5% for 2021, stronger than that of China
Business

IMF projects India’s growth rate to jump to 12.5% for 2021, stronger than that of China

The Washington-based global financial institution said that the Indian economy is expected to grow by 6.9 percent in 2022

Indian refiners deepen cuts to Saudi oil purchases in May - sources
Business

Indian refiners deepen cuts to Saudi oil purchases in May - sources

By Nidhi Verma NEW DELHI (Reuters) -Indian state refiners will buy 36% less oil from Saudi Arabia in May than normal, three sources said, in a sign of escalating tensions with Riyadh even after the Kingdom supported the idea of boosting output from OPEC and allied producers last week.

Asia shares set to rise after S&P 500, Dow hit records on strong economic data
Business

Asia shares set to rise after S&P 500, Dow hit records on strong economic data

By Chibuike Oguh (Reuters) - Asian equities are poised to rise on Tuesday after the S&P 500 and Dow indexes set records as a streak of strong U.S. economic data fueled optimism even as a smaller-than-expected climb in 10-year Treasury notes eased inflation concerns

Exclusive: Indian refiners deepen cuts to Saudi oil purchases in May - sources
Business

Exclusive: Indian refiners deepen cuts to Saudi oil purchases in May - sources

By Nidhi Verma NEW DELHI (Reuters) - Indian state refiners will buy 36% less oil from Saudi Arabia in May than normal, three sources said, in a sign of escalating tensions with Riyadh even after the Kingdom supported the idea of boosting output from OPEC and allied producers last week. Energy relations between India, the world's third biggest oil importer and consumer, and Saudi Arabia have soured as global oil prices spiked.

Tesla shares surge after company posts record deliveries
Business

Tesla shares surge after company posts record deliveries

By Akanksha Rana and Subrat Patnaik (Reuters) - Tesla Inc's stock surged 5% on Monday after the electric car maker posted record quarterly deliveries on strong demand in China that helped offset the impact of a global shortage in auto parts. The company headed by Elon Musk said on Friday it was encouraged by the strong reception of its Model Y crossover in China and that it was quickly progressing to full production capacity.

Cryptocurrency market cap hits record $2 trillion; bitcoin's at $1.1 trillion
Business

Cryptocurrency market cap hits record $2 trillion; bitcoin's at $1.1 trillion

NEW YORK (Reuters) - The cryptocurrency market capitalization hit an all-time peak of $2 trillion on Monday, according to data and market trackers CoinGecko and Blockfolio, as gains over the last several months attracted demand from both institutional and retail investors. At midday, the market cap was at $2.02 trillion

Russia extends punitive Twitter slowdown until mid-May
Business

Russia extends punitive Twitter slowdown until mid-May

By Tom Balmforth and Alexander Marrow MOSCOW (Reuters) - Russia said on Monday it would extend a punitive slowdown of Twitter until May 15, though it acknowledged the U.S. social media company had speeded up deletion of what Moscow calls banned content. Moscow has traditionally taken a more hands-off role in policing the internet than neighbouring China.

Gold flat as weak dollar counters rally in stocks
Business

Gold flat as weak dollar counters rally in stocks

By Shreyansi Singh (Reuters) - Gold prices were little changed on Monday as a softer dollar countered pressure from gains on Wall Street driven by hopes for a swift economic recovery following strong U.S. jobs data

GameStop to capitalize on 'stonks' rally with $1 billion stock sale plan
Business

GameStop to capitalize on 'stonks' rally with $1 billion stock sale plan

By Uday Sampath Kumar and Joshua Franklin (Reuters) - GameStop Corp on Monday increased the value of new stock it may sell from $100 million to $1 billion, as the U.S.

Yellen says global minimum tax needed, too soon to declare victory over pandemic
Business

Yellen says global minimum tax needed, too soon to declare victory over pandemic

By David Lawder (Reuters) - U.S. Treasury Secretary Janet Yellen said on Monday that she is working with G20 countries to agree on a global corporate minimum tax rate to end a "30-year race to the bottom on corporate tax rates." The global minimum tax is a key pillar of President Joe Biden's $2 trillion infrastructure spending plan, which calls for an increase in the U.S.

LG's smartphone exit: who stands to gain?
Business

LG's smartphone exit: who stands to gain?

By Subrat Patnaik and Chavi Mehta (Reuters) - LG Electronics' move to exit its loss-making mobile business is expected to create more opportunities for Samsung than its other rivals in the lucrative North American smartphone market, analysts said.

U.S. services sector gauge scales record high; cost pressures mounting
Business

U.S. services sector gauge scales record high; cost pressures mounting

By Lucia Mutikani WASHINGTON (Reuters) - A measure of U.S. services industry activity surged to a record high in March amid robust growth in new orders, in the latest indication of a roaring economy that is being boosted by increased vaccinations and massive fiscal stimulus. The upbeat survey from the Institute for Supply Management (ISM) on Monday followed news on Friday that the economy added 916,000 jobs last month, the most since August

Market Roundup: BSE Sensex plunges 870.51 points, Nifty closes at 14,637.80; today's top gainers and losers
Business

Market Roundup: BSE Sensex plunges 870.51 points, Nifty closes at 14,637.80; today's top gainers and losers

Nifty Auto declined 254.55 points to end at 9,768.05 followed by Nifty Pharma, which fell 45.60 points to end at 12,331.50

Macrotech Developers to launch IPO on 7 April; price band determined at Rs 483-486 per share
Business

Macrotech Developers to launch IPO on 7 April; price band determined at Rs 483-486 per share

The company has also proposed to use Rs 375 crore to acquire land and their developmental right

Sensex tanks over 400 points in early trade; Infosys, Tech Mahindra, TCS among gainers
Business

Sensex tanks over 400 points in early trade; Infosys, Tech Mahindra, TCS among gainers

BSE was trading 434.90 points or 0.87 percent lower at 49,594.93, and NSE Nifty dropped 109.35 points or 0.74 percent to 14,758

Stocks gain, U.S. short-dated debts under pressure after bumper U.S. jobs data
Business

Stocks gain, U.S. short-dated debts under pressure after bumper U.S. jobs data

By Hideyuki Sano TOKYO (Reuters) - Global stock prices rose to a 1 1/2-month high on Monday after data showing a surge in U.S. employment while short-dated U.S.