Business

Weeks after Trump’s tariffs were invalidated by the US Supreme Court, the administration has suffered another setback, with a New York federal judge ruling that the companies which paid the now-struck-down duties are entitled to refunds.Judge Richard Eaton of the US Court of International Trade, on Wednesday (local time), announced that “all importers of record”…

BENGALURU: Indian wealthtech platforms are increasingly embedding artificial intelligence across research tools, product development and customer interfaces as they look to personalise investing and accelerate product launches without proportionate increases in headcount.Indian wealthtech platforms are increasingly integrating AI into core workflows, using it not just to enhance user experience but also to compress development cycles…

MUMBAI: As expected, on Wednesday, stocks sold off for the second consecutive session since the war in West Asia started on Saturday, and sank the leading indices to over six-month low levels. With the rupee weakening to a new lifetime low, crude prices hitting more than a year-high level and foreign funds selling aggressively, the…

MUMBAI: Warning that governance lapses-not a lack of knowledge-lie at the heart of many financial failures, RBI deputy governor J Swaminathan said institutions often ignore red flags because incentives discourage speaking up, allowing risks to fester until they erupt into crises.Delivering the keynote address at the 3rd International Finance and Accounting Conference (IFAC) at the…

India’s top gas importer Petronet LNG has issued a force majeure notice to its supplier QatarEnergy and local buyers as its vessels are unable to reach Ras Laffan load port due to the crisis in West Asia, it said in an exchange filing on Wednesday.The US-Iran conflict has disrupted fuel shipments in the region. Transit…

MUMBAI: The government’s decision to hold back cuts in retail petrol and diesel prices despite the earlier fall in global crude has given oil marketing companies (OMCs) room to cushion the impact of fresh spikes. According to a report by Nomura, this buffer means that a 10% rise in crude oil prices is likely to…

The disruption of Middle East energy supplies due to the Iran war is pushing global oil and gas prices higher, a development that could strengthen Russia’s finances and indirectly support its war effort in Ukraine.Rising energy prices are increasing the revenue Russia earns from oil and gas exports – a key pillar of the Kremlin’s…

The Reserve Bank of India (RBI) on Wednesday said it will conduct a switch auction of government securities worth Rs 20,000 crore on March 9 as part of efforts to manage the government’s bond redemption profile.According to an RBI release, the auction will be held between 10:30 am and 11:30 am, as reported PTI. The…

US stocks traded steadier on Wednesday after two days of sharp swings, as oil prices paused their rapid climb amid continued uncertainty over the economic fallout from the war involving Iran.The S&P 500 rose 0.5 per cent in morning trade. The Dow Jones Industrial Average gained 180 points, or 0.4 per cent, as of 10:15…

Walmart-backed fintech major PhonePe is targeting a valuation of $9 billion to $10.5 billion (about Rs 75,000 crore–Rs 87,000 crore) for its upcoming India IPO, with plans to raise around $1.05 billion through an equity sale, sources aware of the development told news agency PTI.The expected valuation is lower than the company’s last funding round…