Business

India Turns to OPEC Nations Saudi, UAE for Oxygen; World’s Largest Cargo Plane Leaves UK with 3 Oxygen Units for India

India has turned to OPEC nations particularly Saudi Arabia, UAE and Kuwait for sourcing medical oxygen in its battle against the world’s worst outbreak of COVID-19 pandemic. Oil Minister Dharmendra Pradhan turned to India’s traditional oil suppliers, consulting his counterparts in Saudi Arabia, UAE, Kuwait, Qatar and Bahrain to bridge the huge deficit of medical […]

Business

Jessica Alba-backed Honest Company IPO raises $412.8 mln

Honest Company Inc (HNST.O), the consumer goods company founded by actress Jessica Alba, said it priced its initial public offering (IPO) on Tuesday slightly above the midpoint of its indicated range, raising $412.8 million. The company said late Tuesday that it sold 25.8 million shares at $16 each. Honest had previously indicated shares could be […]

Business

Petrol Price At All-Time High in Delhi, Mumbai. Key things to know

After four days of back to back surges, the petrol price is now at a record high in Delhi and Mumbai. A litre of petrol costs Rs 91.27 in the national capital. In Mumbai, petrol is retailing at Rs 97.61 per litre. Petrol price has risen to ₹102 per litre in some parts of Rajasthan […]

Business

Australian regulator accuses Westpac of insider trading in $12 bln grid sale

Australia’s corporate watchdog accused Westpac Banking Corp (WBC.AX) of insider trading while financing a A$16 billion ($12 billion) energy grid privatisation in 2016, the latest in a series of regulatory problems for the country’s No. 2 lender. The Australian Securities and Investments Commission (ASIC) said Westpac knew it had won the contract to help two […]

Business

Utility Veolia posts higher Q1 profits and keeps 2021 outlook

French utility Veolia (VIE.PA), which last month agreed a 13 billion euros ($15.6 billion) merger deal with rival Suez (SEVI.PA), posted higher first quarter earnings on Wednesday and kept its 2021 financial outlook. Veolia reported earnings before interest, tax, depreciation and amortisation (EBITDA) for the first quarter ending March 31 of 1.078 billion euros, up […]

Business

U.S. Commerce Dept. presses Taiwan for more chips to automakers

The U.S. Commerce Department is pressing Taiwan Semiconductor Manufacturing Co Ltd (2330.TW) and other Taiwanese firms to prioritise the needs of U.S. automakers to ease chip shortages in the near term, Commerce Secretary Gina Raimondo said. Raimondo told a Council of the Americas event on Tuesday that longer term, increased investment was needed to produce […]

Business

Deutsche Post DHL hikes outlook again on ecommerce boom

German logistics company Deutsche Post (DPWGn.DE) raised its financial outlook again on Wednesday after more than tripling its operating earnings in the first quarter, predicting e-commerce will keep booming and global trade will rebound. Deutsche Post DHL raised its operating profit forecast to more than 6.7 billion euros ($8.05 billion) in 2021 and more than […]