Business
UK pension funds almost collapsed amid market meltdown: Bank of England
London, Oct 6 Pension funds managing vast sums on behalf of retirees across Britain came close to collapse amid an "unprecedented" meltdown in UK government bond markets after Kwasi Kwarteng's mini-budget, the Bank of England has said, the media reported. Explaining its emergency intervention to calm turmoil in financial markets ...UK debt outlook cut by Fitch after Liz Truss’s mini-Budget debacle
London, Oct 6 A top US credit rating agency has lowered its outlook for British government debt from "stable" to "negative" amid the fallout from Prime Minister Liz Truss's mini-budget fiasco, media reports said. The firm Fitch announced that Chancellor Kwasi Kwarteng's "unfunded fiscal package" could lead to a "significant ...OPEC announces big cut in oil production
London, Oct 5 OPEC+ said on Wednesday that it will slash oil production by 2 million barrels per day, the biggest cut since the start of the Covid-19 pandemic, media reports said. The group of major oil producers, which includes Saudi Arabia and Russia, announced the production cut following its ...JPMorgan declines to include India in widely-followed bond index
London, Oct 5 JPMorgan has declined to include India in a widely-followed bond index until at least next year after investors raised concerns about the domestic market's ability to handle the large volume of capital inflows expected to follow the move, a media report said. India's rupee-denominated bonds had been ...British pound slumps to a 37-year low
London, Sep 16 The British pound slumped to a 37-year low on Friday after new data showed that shoppers are pulling back spending as inflation squeezes household budgets, underscoring fears that the economy may already be shrinking, media reports said. The currency fell below $1.14, its lowest since 1985, after ...Mukesh Ambani donates Rs 1.5 crore to Tirumala temple
Tirupati, Sep 16 Reliance Industries chairman and managing director Mukesh Ambani on Friday donated Rs 1.5 crore to Tirumala temple. After offering prayers at the famous hill shrine, he presented the demand draft to Tirumala Tirupati Devasthanam (TTD). The industrialist had darshan and participated in the rituals performed by the ...European Union proposes $140 bn windfall tax on energy companies
London, Sep 14 The European Union wants to raise $140 billion by tapping the windfall profits of some energy companies to help households and businesses pay eye-watering gas and electricity bills, media reports said. On Wednesday, the European Commission proposed capping the profits of renewable and nuclear electricity producers, and ...Vedanta bags 2 Odisha coal mines in e-auction
New Delhi, Sep 14 Vedanta Ltd has won the bid for two coal mines in Odisha, which were put up for e-auction by the government for commercial mining purpose on Wednesday. The Anil Agarwal-led conglomerate won the bid for Ghogharpalli and its Dip Extension mines. Both the coal mines are ...Gujarat partners with Vedanta, Foxconn to set up semi-conductor, display manufacturing units
New Delhi, Sep 13 The Gujarat government has partnered with Vedanta and Foxconn aiming an investment of Rs 1.54 lakh crore to achieve self-reliance in the field of semi-conductor manufacturing. MoUs were signed in the presence of Chief Minister Bhupendra Patel and Union Minister for Electronics and Information Technology Ashwini ...Mukesh Ambani offers prayers at Shrinathji temple
Jaipur, Sep 13 Mukesh Ambani, chairman of Reliance Industries Limited, offered his prayers at the Shrinathji temple in Rajasthan's Rajsamand district. Mukesh Ambani and his son's fiance Radhika Merchant had the "Jhanki darshan" from 5.32 p.m. to 6.10 p.m. on Monday. Ambani had an informal conversation with a temple priest ...
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