US inflation rose in April to 3.8 per cent as surging fuel costs amid the ongoing Iran-US conflict drove up consumer prices, hitting a three-year high complicating the Federal Reserve’s path on interest rates.Data released by the Labor Department on Tuesday showed the Consumer Price Index (CPI) increased 0.6 per cent in April after a…
President Trump has declared the cease-fire on “life support,” and investors are taking a cautious approach as the economic effects of the war become more apparent. Source link
Indian equity benchmark indices extended losses for the fourth straight session on Tuesday, with the Sensex and Nifty plunging nearly 2 per cent amid rising crude oil prices, continued foreign fund outflows and growing uncertainty over the escalating West Asia conflict.The BSE Sensex tumbled 1,456.04 points, or 1.92 per cent, to close at 74,559.24, while…
The Consumer Price Index rose 3.8% in April from a year earlier as higher energy costs replaced tariffs as the driver of higher prices for Americans. Source link
The disruption in the Strait of Hormuz amid the Iran conflict has triggered a major disruption in the supply of bunker fuel for Asia, the heavy residual oil that powers most of the world’s cargo ships. It has raised concerns over higher freight costs, supply chain disruptions and rising consumer prices globally.Bunker fuel, a thick…
The food giant Calbee said shortages of naphtha, a crude-oil derivative used in inks, were forcing it to switch to black-and-white packaging for its salty products. Source link
State-run oil marketing companies are facing a major hit to their finances, Union petroleum and natural gas minister Hardeep Singh Puri flagged on Tuesday. Puri said that oil marketing companies (OMCs) are collectively losing around Rs 1,000 crore every day as they continue to sell petrol, diesel and LPG below cost. He added that the…
The online marketplace called the cash-and-stock proposal “neither credible nor attractive.” Source link
Union petroleum and natural gas minister Hardeep Singh Puri on Tuesday soothed concerns over energy supplies across the country, saying that fuel and cooking gas supplies remain stable. Addressing the CII Annual Business Summit, Puri said that the country currently holds crude oil and LNG reserves sufficient for 69 days, while LPG stocks can last…
The company is trying to help streaming influencers, who are increasingly being wooed by competitors like Netflix and TikTok. Source link
