US auto union UAW begins nation-wide strike against GM

GM said UAW wages and benefits are expensive compared with competing non-union auto plants in southern US states and also justified plant shutdowns saying market shifts, especially the switchover to electric vehicles, demanded solutions for the Michigan and Ohio assembly plants that are non-productive

Oil surges as drone attack on Saudi Aramco plant jams supplies

Saudi Aramco is one of the main suppliers to Mukesh Ambani’s Reliance Industries, India’s biggest private refining-cum-petrochemical player, and a key supplier to public sector oil refiners such as Indian Oil Corporation

Govt looks to realty to revive economic activity

Government on Saturday announced the creation of a Rs20,000-crore facility to help real estate developers complete stalled housing projects for the middle class and also lowered the interest rate on ‘House Building Advance’ for government servants, linking it to the yield on 10-year government securities

Canadian pension fund to get majority stake in L&T IDPL

Canada Pension Plan Investment Board, which reinvested Rs1,120 crore of its original Rs2,000 crore investment to acquire a 30 per cent stake in L&T IDPL sponsored InvIT unit, now holds all high value projects of L&T IDPL through the InvIT

ECB cuts rates by 10 bps; announces new stimulus plan

The ECB’s announcement pushed the euro down sharply against the dollar, with the European common currency hitting its lowest level in more than two years, before recovering all losses as market started doubting the central bank’s new bond-buying plan

IMF blames policy muddle for India's sluggish economic growth

IMF attributes the weakening growth rate of the Indian economy to corporate, environmental and regulatory uncertainties, which deter both manufacturers and consumers from taking decisions



Government nets a "one-time" windfall

This Rs1.76 trillion amount needs to be seen as a sum of three numbers which bear different connotations and has varied impact on the fiscal deficit and bond markets, system liquidity and the overall issue of RBIs capital, reserves, balance sheet strength and its independence, says Arvind Chari, head, Fixed Income, Quantum Advisors

Energy from seawater

Stanford researchers develop technology to harness energy from mixing of freshwater and seawater