Business

BP cut its dividend on Tuesday for the first time in a decade after reporting a record $6.7 billion loss in the second quarter as the coronavirus crisis hammered energy demand.

Jagdishan has been with the bank since 1996, and the appointment will put an end to one of the most keenly watched successions in the banking industry.

ONGC was the top gainer in the Sensex pack, rising over 1 per cent, followed by ITC, Asian Paints, Reliance Industries, Maruti, Bajaj Auto and NTPC.

The U.S. economy, battered by a resurgence in the spread of COVID19, needs increased government spending to tide over households and businesses and broader use of masks to better control the virus, U.S. central bankers said on Monday.

Asian shares rose on Tuesday after strong U.S. manufacturing data and gains in tech stocks helped investors look past broader worries about the coronavirus and global economy.

Gold prices edged lower on Tuesday as the dollar strengthened and risk appetite improved after positive U.S. economic data, while fears over surging coronavirus cases limited losses for the safehaven metal.

White House trade adviser Peter Navarro suggested on Monday that Microsoft Corp could divest its holdings in China if it were to buy the Chinese owned shortvideo app TikTok.

Any potential buyer of Chineseowned TikTok that has operations in China could be a problem, a White House adviser said on Monday, amid reports that President Donald Trump was weighing whether to allow a U.S. company to buy the popular shortvideo app in li...

Former RBI deputy governor Viral Acharya's latest book uses the Japanese asset price bubble burst of 1992 and the European debt crisis as lessons for the Indian banking sector.

World stocks began August cautiously as U.S. lawmakers struggled to agree on the next round of coronavirus aid, though a squeeze on crowded short positions left the dollar clinging to a tentative bounce.

SoftBank Group Corp on Monday said it spent 398 billion yen ($3.8 billion) buying back 63.2 million shares between July 1 and Aug. 3, part of a repurchase programme that has helped lift its share price to two decade highs.

Suzuki Motor Corp on Monday posted a 98% drop in quarterly operating profit during the first quarter because of plunging car demand in India, its biggest market, where coronavirus infections continue to increase.

HSBC Holdings PLC posted a 65% drop in firsthalf pretax profit, more than expected, as the coronavirus pandemic and its impact on businesses forced the Asiafocused bank to boost its loanloss provisions.

Japan's economy shrank an annualised 2.2% in JanuaryMarch, unchanged after a second revision, data from the Cabinet Office showed on Monday.

Acharya, who resigned after run-ins with the government last year, said the dip in financial savings is also another reason which can explain the disagreements between Mint Road and North Block.

The West Bengal State Electricity Distribution Co Ltd (WBSEDCL) has been facing financial woes with minuscule collections in April and May resulting in an over Rs 2,000-crore shortfall.