Business

Washington: Treasury Secretary Janet Yellen projected calm Tuesday after recent regional bank collapses but told a gathering of bankers that additional rescue arrangements “could be warranted” if any new failures at smaller institutions jeopardise financial stability. Yellen, who made her remarks at the American Bankers...

Mumbai: Unlike the global economy, India would not slow down and maintain the pace of expansion achieved in 2022-23, an RBI article said Tuesday. "We remain optimistic about India, whatever the odds," said the article on the state of the economy published in the March...

London: Rating agency Moody's has cut the outlook on UBS Group's debt to negative following its takeover of Credit Suisse, Moody's has affirmed UBS's current credit ratings, but lowered the outlooks on its long-term deposit and senior unsecured ratings to negative from stable, The Guardian...

New Delhi: As Amazon deepened the tech gloom with firing another 9,000 employees (it previously sacked 18,000), over 500 companies have laid off nearly 1.5 lakh workers to date this year. According to latest data from layoff.fyi, a website that is tracking tech sector job...

London: As the dust settles following the emergency rescue of Credit Suisse by UBS, fears of heavy job losses are growing, media reports said. The shotgun wedding hammered out between the two Swiss banks last weekend will create a 120,000-strong financial institution - and it...

Chennai: Gold prices will go up further if the US Federal Reserve hike the interest rates by 25 basis points (bps) or lower along with "non-visible" or "hawkish" speech, a research analyst said. "Any hike in line with 25 basis point or lower along with...

Mumbai: Benchmark Sensex and Nifty rebounded nearly 1 per cent at close Tuesday amid firm trends in global equities and buying in index major Reliance Industries and banking stocks. The 30-share BSE Sensex climbed 445.73 points or 0.77 per cent to settle at 58,074.68. During...

Washington: It seemed like a good idea at the time: Red-state Democrats facing grim reelection prospects would join forces with Republicans to slash bank regulations — demonstrating a willingness to work with President Donald Trump while bucking many in their party. That unlikely coalition voted...

New Delhi: Global professional services company Accenture Tuesday said it is acquiring industrial artificial intelligence (AI) company Flutura for an undisclosed sum. Bengaluru-headquartered Flutura will strengthen Accenture's industrial AI services to increase the performance of plants, refineries, and supply chains while also enabling clients to...

San Francisco: Shares in the troubled First Republic Bank crashed more than 46 per cent after reports the San Francisco-based bank may need to raise more funds despite a $ 30 billion rescue last week. As the growing banking crisis spread into a new week,...