The Serum Institute of India has been at the forefront of producing the lower-cost AstraZeneca coronavirus shot
The fine has been imposed for contravention of directions in the Master Circular on 'Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by Banks'
By Yilei Sun and Tony Munroe BEIJING (Reuters) - Electric vehicle maker Tesla Inc, facing scrutiny in China over safety and customer service complaints, is boosting its engagement with mainland regulators and beefing up its government relations team, industry sources said.
By John McCrank and Shubham Kalia (Reuters) -Robinhood Financial on Monday struck back against comments by Warren Buffett that likened the retail brokerage to a casino that encourages millions of inexperienced day traders to place short-term stock market bets. At Berkshire Hathaway Inc's annual meeting on Saturday, Buffett said Robinhood has attracted, "maybe set out to attract," large numbers of people who just gamble on short-term price movements
(Reuters) - Retail-focused brokerage Robinhood Financial has hit back against comments by Warren Buffett who on Saturday likened the millions of inexperienced day traders who entered the stock market in the past year to gamblers. Speaking at Berkshire Hathaway Inc's annual meeting, Buffett said Robinhood has attracted, "maybe set out to attract," a large number of people who are just gambling on short-term price movements.
By Herbert Lash and Tommy Wilkes NEW YORK/LONDON (Reuters) - Gold prices rose and a gauge of global equity markets on Monday was not far from a record as investors remain bullish about the economic recovery ahead of U.S. data that is expected to underline the strength of the rebound
By Uday Sampath Kumar and Akanksha Rana (Reuters) - EBay Inc is open to the possibility of accepting crytpocurrency as a form of payment in the future and is looking at ways to get non-fungible tokens (NFTs) on its platform, the company said on Monday. A growing number of companies have begun to accept virtual currencies as a form of payment, taking an asset class that had been shunned by major financial institutions a few years ago, a step closer to becoming mainstream.
By Shreyashi Sanyal and Sruthi Shankar (Reuters) - The S&P 500 and the Dow indexes rose on Monday as a largely upbeat earnings season strengthened expectations of sustained profit growth, while the Nasdaq came under pressure from declines in some high-flying growth stocks. With more than half of S&P 500 companies having reported so far, profits are now seen rising 46% in the first quarter, compared with forecasts of 24% growth at the start of April, according to IBES data from Refinitiv.
By Eva Mathews (Reuters) - Verizon Communications Inc is getting rid of its media businesses that include iconic brands Yahoo and AOL for $5 billion, ending an expensive and unsuccessful run in the media and advertising world. Despite spending more than a decade and billions of dollars building a stable of internet brands, the New York-based telecom company has struggled to make headway in a highly competitive internet advertising space dominated by Facebook Inc and Google. Having written $4.6 billion off the value of the businesses in 2018, Verizon will get just $4.25 billion in cash from private equity firm Apollo Global, along with preferred interests of $750 million and a 10% stake in the unit - about half of what it had paid for the businesses.
By Sumita Layek (Reuters) - Gold prices jumped more than 1% on Monday, with the rally spilling over into other precious metals as well, driven by a retreat in the dollar and U.S. Treasury yields.
By Stephanie Kelly NEW YORK (Reuters) - Oil rose more than 1% on Monday as Chinese economic figures and U.S. vaccination rate pointed to a strong rebound in demand in the world's two largest economies
By Lucia Mutikani WASHINGTON (Reuters) - U.S. manufacturing activity grew at a slower pace in April, restrained by shortages of inputs as rising vaccinations against COVID-19 and massive fiscal stimulus unleashed pent-up demand. The survey from the Institute for Supply Management (ISM) on Monday showed record-long lead times, wide-scale shortages of critical basic materials, rising commodities prices and difficulties in transporting products across industries
By Aditi Sebastian (Reuters) - Estee Lauder Cos Inc missed analysts' estimates for quarterly sales on Monday, as weak demand for its luxury foundations and lipsticks offset growth at the cosmetics maker's skincare brands, with people continuing to work from home. The company's shares, which touched a record high last week, fell nearly 7%. Sales of cosmetics and makeup products have taken a hit during the COVID-19 pandemic as shoppers stay at home, pressuring Estee Lauder's M.A.C and Bobbi Brown brands
By Jonathan Stempel (Reuters) - Warren Buffett ended years of speculation about succession at Berkshire Hathaway Inc by saying Greg Abel, who oversees its non-insurance businesses, would become chief executive officer if he were no longer in charge. "The directors are in agreement that if something were to happen to me tonight, it would be Greg who'd take over tomorrow morning," Buffett told CNBC, the station said on Monday. Buffett, 90, has never publicly signaled any plan to step down
The Purchasing Managers’ Index survey, however, noted that while output and sales increased at slowest rates since August due to the COVID-19 crisis, there was a faster upturn in international orders
Sankar, a career Central banker, has worked in various positions at the Reserve Bank of India. He has a Master of Philosophy in Economics from the Jawaharlal Nehru University
Market benchmark Sensex staged a smart recovery from the day's low to end with marginal losses on Monday amid a negative trend in global equities
(Reuters) -KPN NV has rejected unsolicited takeover offers from a private equity consortium comprising EQT AB and Stonepeak Infrastructure Partners and another from U.S. investment firm KKR, the Dutch telecommunications company said on Sunday.
By Mike Stone WASHINGTON (Reuters) - The U.S. State Department has approved the potential sale of six Boeing-made P-8I patrol aircraft and related equipment to India for an estimated cost of $2.42 billion, the Pentagon said on Friday
(Reuters) - The Serum Institute of India, which manufactures the AstraZeneca COVID-19 vaccine, is planning to start vaccine production in other countries as it struggles to meet supply commitments, its chief executive officer told The Times.