Updated - Squid Business

India’s Oberoi Realty says Q4 profit more than doubles on soaring demand

BENGALURU (Reuters) – Indian real-estate developer Oberoi Realty Ltd said on Tuesday fourth-quarter profit more than doubled, boosted by strong bookings as the demand for housing saw an upswing in the country. The company reported a consolidated net profit of 4.80 billion rupees ($58.69 million) for the quarter ended March 31 from 2.32 billion rupees …

India’s Oberoi Realty says Q4 profit more than doubles on soaring demand Read More »

US lawmakers, Biden aides invoke China competition in debt fight

By Patricia Zengerle, Idrees Ali and Michael Martina WASHINGTON (Reuters) -Three of U.S. President Joe Biden’s top aides warned on Tuesday that budget cuts would undermine the country’s ability to compete militarily, diplomatically and economically with China, a rare joint appearance in Congress underscoring Washington’s focus on competing with the Asian power. Secretary of State …

US lawmakers, Biden aides invoke China competition in debt fight Read More »

India’s Jindal Steel’s Q4 profit down 70% as prices fall, expenses rise

BENGALURU (Reuters) – Jindal Steel and Power Ltd reported a 69.5% fall in quarterly profit on Tuesday, hurt by lower steel prices and higher costs of raw materials like iron. India’s steel industry, already grappling with a slump in prices, was also hit with an export tax on certain steel intermediaries last year, which was …

India’s Jindal Steel’s Q4 profit down 70% as prices fall, expenses rise Read More »

OpenAI chief concerned about AI being used to compromise elections

By Diane Bartz, Zeba Siddiqui and Jeffrey Dastin WASHINGTON (Reuters) -The CEO of OpenAI, the startup behind ChatGPT, told a Senate panel on Tuesday the use of artificial intelligence to interfere with election integrity is a “significant area of concern”, adding that it needs regulation. “I am nervous about it,” CEO Sam Altman said about …

OpenAI chief concerned about AI being used to compromise elections Read More »

Oil dips as weaker China, US economic data offset IEA demand forecast

By Stephanie Kelly NEW YORK (Reuters) – Oil futures dipped on Tuesday as weaker-than-expected economic data in China and the United States offset a forecast of higher global demand from the International Energy Agency (IEA). Brent crude futures settled 32 cents lower to $74.91 a barrel. U.S. West Texas Intermediate crude edged down 25 cents …

Oil dips as weaker China, US economic data offset IEA demand forecast Read More »

India plans to challenge EU carbon tax at WTO -sources

By Manoj Kumar and Neha Arora NEW DELHI (Reuters) -Indian plans to file a complaint to the World Trade Organisation over the European Union’s proposal to impose 20% to 35% tariffs on imports of high-carbon goods like steel, iron ore and cement from India, top government and industry sources said. This is part of New …

India plans to challenge EU carbon tax at WTO -sources Read More »

Nigeria needs $12 billion to clean up Bayelsa oil spills – report

By MacDonald Dzirutwe LAGOS (Reuters) – Nigeria needs $12 billion to clean up decades-old oil spills in southern Bayelsa state over a 12-year period, a new report said on Tuesday, and singled out Shell and Eni for being responsible for most of the pollution. Bayelsa is one of the major oil producing states in the …

Nigeria needs $12 billion to clean up Bayelsa oil spills – report Read More »

Dollar drifts higher as US debt ceiling in spotlight

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar edged higher on Tuesday in choppy trading, with no clear direction, as investors kept an eye on debt ceiling talks to avert a possible default that could reverberate across asset markets and damage confidence in the world’s largest economy. The dollar index, a measure of the …

Dollar drifts higher as US debt ceiling in spotlight Read More »

Russia, Ukraine to receive African mission on potential peace plan, Pretoria says

By Wendell Roelf CAPE TOWN (Reuters) -South African President Cyril Ramaphosa said on Tuesday that Russian President Vladimir Putin and Ukraine’s Volodymyr Zelenskiy had agreed to meet a group of African leaders to discuss a potential peace plan for the conflict. Details of the plan have not been publicly divulged, although Ukraine’s stated position for …

Russia, Ukraine to receive African mission on potential peace plan, Pretoria says Read More »

Wall St ends lower, Treasury yields climb as debt ceiling talks in spotlight

By Stephen Culp NEW YORK (Reuters) – U.S. stocks closed lower on Tuesday and benchmark Treasury yields extended their rise as mixed economic data, weak corporate results and ongoing debt ceiling negotiations in Washington dampened investor risk appetite. While all three major U.S. stock indexes ended down, the tech-heavy Nasdaq’s losses were held in check …

Wall St ends lower, Treasury yields climb as debt ceiling talks in spotlight Read More »