A federal jury in San Francisco has found Elon Musk liable for defrauding Twitter (now X) investors in 2022 by disparaging the company in an effort to secure a lower purchase price for the platform, Bloomberg News reported on Friday.Jurors concluded that Musk intentionally misled shareholders by claiming the social media company—later renamed X—had an … Read more
Growth in India’s eight core infrastructure industries eased to 2.3 per cent in February, down from 3.4 per cent in the same month last year, reflecting weakness in energy-linked segments even as output expanded in several manufacturing-oriented sectors.According to official data, production of crude oil, natural gas and petroleum refinery products declined during the month, … Read more
Border trade between India and China through the Lipulekh Pass in Uttarakhand’s Pithoragarh district will resume this year after remaining suspended for six years, officials said, according to PTI.District Magistrate Ashish Bhatgai said preparations have been initiated following directions from the Union government for the trade session, which typically runs between June and September. The … Read more
The price of bulk diesel sold to industrial users was hiked by about Rs 22 a litre on Friday, reflecting the spike in global oil prices amid conflict in the Middle-East, even as the rates of normal petrol and diesel remained unchanged.In Delhi, bulk or industrial diesel prices were raised from Rs 87.67 per litre … Read more
Benchmark equity indices Sensex and Nifty pared most of their sharp intra-day gains but still ended nearly half a per cent higher on Friday, supported by strong buying in IT, PSU bank and metal stocks amid persistent concerns over fuel-driven inflation.In a volatile trading session, the 30-share BSE Sensex climbed 325.72 points, or 0.44 per … Read more
India’s foreign exchange reserves declined by $7.052 billion to $709.759 billion in the week ended March 13, according to data released by the Reserve Bank of India (RBI) on Friday.In the preceding reporting week, the country’s overall reserves had dropped by $11.683 billion to $716.81 billion. The reserves had earlier touched an all-time high of … Read more
The rupee plunged by 82 paise, or nearly 1 per cent, to settle at an all-time low of 93.71 (provisional) against the US dollar on Friday, weighed down by persistent foreign fund outflows and a sharp rise in global crude oil prices amid mounting geopolitical tensions, PTI reported.Forex traders said the domestic currency remained under … Read more
Gold prices surged by Rs 1,914 to Rs 1.46 lakh per 10 grams in futures trade on Friday, tracking firm global trends amid improving sentiment following signs of easing geopolitical tensions in West Asia, PTI reported.On the Multi Commodity Exchange (MCX), gold contracts for April delivery climbed by Rs 1,914, or 1.32 per cent, to … Read more
Strait of Hormuz (AP image) Iran has introduced a ‘safe shipping corridor’ that allows selected vessels to pass through the Strait of Hormuz via a route inside its territorial waters, as tensions in the region continue to disrupt global maritime traffic.The corridor is being offered only to ships that receive prior approval from Iranian authorities, … Read more
There is a chance that North American LPG will gain a stronger foothold in the Indian import mix. (AI image) India is turning to the US to mitigate its ongoing LPG supply crisis as the war rages on in the Middle East. India gets around 60% of its LPG needs from the Gulf region, and … Read more