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Reuters - Business

Oil falls below $62, heads for weekly loss on China virus concerns

Reuters
LONDON (Reuters) – Oil slipped below $62 a barrel on Friday and was heading for a weekly decline as concern that a virus in China may spread, curbing travel and oil demand, overshadowed supply cuts. FILE PHOTO: Pump jacks operate at sunset in an oil field in Midland, Texas U.S.......
Reuters - Business

Oil rises, but potential impact of China virus on fuel demand haunts market

Reuters
SINGAPORE (Reuters) – Oil prices climbed on Friday, following a drawdown in U.S. crude stocks, but were set to fall heavily for the week amid worries that a new coronavirus in China that has killed 25 so far may spread, curbing travel, fuel demand and economic prospects. FILE PHOTO: Pump......
Reuters - Business

Oil rebounds, but markets ‘twitchy’ over China virus impact on demand

Reuters
SINGAPORE (Reuters) – Oil prices edged up on Friday, helped by a decline in U.S. crude stockpiles, but were on track for to fall up to 5% for the week on worries that the China coronavirus that has killed 25 so far may spread, curbing travel, fuel demand and economic......
Reuters - Business

U.S. regulator to review recommendation on Fiat Chrysler’s Jeep complaint against Mahindra

Reuters
DETROIT (Reuters) – A U.S. regulator said it will review part of a recommendation made last fall that India’s Mahindra and Mahindra Ltd (MAHM.NS) infringed upon the intellectual property rights of Fiat Chrysler Automobiles’ (FCHA.MI) Jeep SUV design. FILE PHOTO: ROXOR off-road vehicles are seen in the Mahindra Automotive North......
Reuters - Business

Explainer: Global airlines on high alert as virus outbreak spreads

Reuters
(Reuters) – Airlines and passengers are on guard against a new flu-like virus that originated in Wuhan, China. Passengers wearing masks are seen at the terminal hall of the Beijing Capital International Airport, in Beijing, China January 23, 2020. REUTERS/Martin Pollard Here’s an explainer on the airline industry’s response to......
Reuters - Business

Exclusive: Malaysia to buy more sugar from India to help resolve palm oil spat – sources

Reuters
FILE PHOTO – A labourer carries a sack filled with sugar to load it onto a supply truck at a wholesale market in Kolkata, India, November 14, 2018. REUTERS/Rupak De Chowdhuri KUALA LUMPUR (Reuters) – Malaysia’s top sugar refiner said it will increase purchases of the commodity from India, which......
CNBC Business

Pakistan Prime Minister Imran Khan on Kashmir

CNBC
CNBC – For more and to sign up click here Pakistan Prime Minister Imran Khan once again called for U.S. President Donald Trump and the United Nations to play mediator between his country and neighbor India over disputed territory in Kashmir. Speaking to CNBC’s Hadley Gamble, Khan claimed India has been......
Reuters - Business

Uber cuts losses from Eats business in India with sale to Zomato

Reuters
BENGALURU (Reuters) – Uber (UBER.N) has sold its loss-making online food-ordering business in India to local rival Zomato in exchange for a 9.99% stake in the startup backed by China’s Ant Financial. FILE PHOTO: An Uber Eats food delivery courier walks with a bicycle in central Kiev, Ukraine September 9,......
CNBC Business

IMF forecasts for the global economy in 5 charts

CNBC
CNBC – For more and to sign up click here A US cargo ship is seen at the Yangshan Deep-Water Port, an automated cargo wharf, in Shanghai on April 9, 2018. Johannes Eisele | AFP | Getty Images The International Monetary Fund on Monday released its latest projections for the......
Reuters - Business

Uber sells Indian food delivery arm to Ant Financial-backed Zomato

Reuters
FILE PHOTO: An Uber Eats food delivery courier walks with a bicycle in central Kiev, Ukraine September 9, 2019. REUTERS/Valentyn Ogirenko (Reuters) – Uber (UBER.N) has sold its online food-ordering business in India to local rival Zomato in exchange for a 9.99% stake in the startup backed by China’s Ant......
CNBC Business

Uber sold its food delivery business in India to local rival Zomato

CNBC
CNBC – For more and to sign up click here Ride-hailing giant Uber said Tuesday it sold its food delivery business in India to its competitor Zomato in an all-stock transaction.  The sale gives Uber a 9.99% stake in the Indian restaurant aggregator and food delivery start-up.  As a result,......
Reuters - Business

No turning point in sight as IMF predicts sluggish global growth

Reuters
WASHINGTON/DAVOS (Reuters) – Global growth appears to have bottomed out but there is no rebound in sight and risks ranging from trade tensions to climate shocks makes the outlook uncertain, a top International Monetary Fund official said on Monday. FILE PHOTO: Workers erect scaffolding at a construction site of a......
Reuters - Business

IMF cuts global growth forecasts as India falters, says bottom may be near

Reuters
WASHINGTON (Reuters) – The International Monetary Fund on Monday trimmed back its 2020 global growth forecasts due to sharper-than-expected slowdowns in India and other emerging markets but said a U.S.-China trade deal was another sign that trade and manufacturing activity may soon bottom out. FILE PHOTO: Workers erect scaffolding at......
CNBC Business

Most think capitalism does more harm than good, survey shows

CNBC
CNBC – For more and to sign up click here Richard Edelman speaks onstage at the Cannes Lions Festival 2018  Francois G. Durand | Getty Images Entertainment | Getty Images A majority of people think that the rich are getting richer while the rest of society struggles, according to a......
Reuters - Business

After India’s Amazon snub, Modi’s party slams Bezos-owned Washington Post

Reuters
NEW DELHI (Reuters) – Indian Prime Minister Narendra Modi’s ruling party on Friday slammed editorial policies of billionaire Jeff Bezos-owned Washington Post, even as his e-commerce firm Amazon (AMZN.O) announced plans to create a million jobs in the country by 2025. Vijay Chauthaiwale, chief of the Bharatiya Janata Party’s (BJP)......
Reuters - Business

Factbox: How NBCUniversal’s Peacock streaming service stacks up against others

Reuters
(Reuters) – Comcast Corp’s NBCUniversal on Thursday gave specifics on its planned Peacock video streaming service, which will do battle with industry leader Netflix Inc and others in the highly competitive field. FILE PHOTO: The NBC and Comcast logo are displayed on top of 30 Rockefeller Plaza, formerly known as......
Reuters - Business

Amazon chief says to invest $1 billion in digitizing small businesses in India

Reuters
FILE PHOTO: Jeff Bezos, founder of Amazon and Blue Origin speaks during the JFK Space Summit, celebrating the 50th anniversary of the moon landing, at the John F. Kennedy Library in Boston, Massachusetts, U.S., June 19, 2019. REUTERS/Katherine Taylor NEW DELHI (Reuters) – Amazon.com Inc will invest $1 billion in......
Reuters - Business

Ahead of Bezos visit, India antitrust chief says e-commerce firms shouldn’t offer heavy discounts

Reuters
NEW DELHI (Reuters) – Big e-commerce firms should not offer steep discounts, must disclose discounting policies and ensure they do not drive brick-and-mortar rivals out of business, India’s antitrust chief said as his commission launched a probe into Amazon.com and Walmart’s Flipkart. FILE PHOTO: People move past a hoarding of......
Reuters - Business

India’s Supreme Court asks crime fighting agency to seize local assets of JPMorgan: report

Reuters
FILE PHOTO: A J.P. Morgan logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith MUMBAI (Reuters) – India’s Supreme Court on Monday directed the government’s crime fighting agency to seize local assets of JPMorgan in relation to some transactions the bank engaged in with a local......

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