Reuters Financial News

First Abu Dhabi Bank on Thursday clarified that it was not evaluating any possible offer for a stake in Indian private lender Yes Bank, as per news agency Reuters. The Middle Eastern lender was apparently among those evaluating a $5 billion stake in Yes Bank for around 51 per cent, news agency Bloomberg reported on Wednesday citing sources. The other suitors included Japan-based Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc. Following this news, shares of Yes Bank jumped as much as 8.5 per cent. The stock has climbed around 25 per cent this year so far. State Bank of India has reduced its stake in Yes Bank, which it rescued four years ago from a crisis of bad loans. Despite the reduction, SBI remains the largest shareholder with a 24 per cent stake. The impending end of SBI Chairman Dinesh Khara’s tenure in August could potentially delay any deals involving Yes Bank. A government-appointed panel has recommended Challa Sreenivasulu Setty as his successor.

After UK citizens head to the ballot box for the first general election since December 2019, analysts and traders will be waiting for the 10pm exit poll announcement to see who will form the next government. Historically, sterling has fluctuated before and in the immediate aftermath of major political decisions in the UK. Three weeks before the 2015 election, the pound fell to a five-year low and immediately after the 2016 Brexit referendum, sterling plummeted to its lowest level since 1985, according to data from Thomson Reuters. Oanda's Bambury noted: «In the seven days that foll...

government's inspection of a Som Group distillery said child labourers, some aged between 13 and 17, were made to fill and pack liquor bottles and worked long hours. Police are investigating the use of child labour at the distillery in Madhya Pradesh state after the federal government's National Commission for Protection of Child Rights said last month it had found 58 children working illegally at the factory. The commission released photos of some with hands showing chemical burns and said some children were transported in school buses for factory work.

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ovarian cancer, leaving behind two daughters. Her grieving mother, Darlene, blames Johnson & Johnson's Baby Powder — and she's pursuing a lawsuit her daughter started a decade ago, alleging the company's talc caused the deadly illness. The 71-year-old Houston-area grandmother has drained her savings caring for the girls, she said. Now she and tens of thousands of other claimants face a July 26 deadline to vote on J&J's third attempt at a controversial bankruptcy maneuver that would cap its liability and set up a fund to pay victims. «I don't know how much longer I can carry on,» Evans told Reuters. «I feel pressure that I should probably vote 'yes.'»

Bhole Baba" and Ramkumari said a stone in her kidney vanished. The 85-year-old gave no proof but this story and countless others of similar "miracles" led to Baba's following rocketing in India's northern states. A gathering addressed by the former police head constable in a crowded field last week drew a quarter of a million people and caused one of the deadliest stampedes in the country. Bhole Baba, or Innocent Elder, was born Suraj Pal Singh Jatav. He quit the police in 2000 to join a series of Hindu preachers and gurus in India who are sought by millions for miracle cures and spiritual advice. They are often called godmen, and many have been wooed by politicians for the influence they wield.

Heavy rains triggered landslides and flash floods killing at least 11 people in the last 36 hours in Nepal and blocking key highways and roads, officials said on Sunday. Eight people were missing, either washed away by floods or buried in landslides, while 12 others were injured and being treated in hospitals, police spokesperson Dan Bahadur Karki said. «Rescue workers are trying to clear the landslides and open the roads,» Karki told Reuters, adding heavy equipment was being used to clear debris.

Google said it has taken a stake in Taiwan's New Green Power and could buy up to 300 megawatts of renewable energy from the BlackRock fund-owned firm to help cut its carbon emissions and those of suppliers. Companies are being pushed to cut greenhouse gas emissions linked to their operations and value chains by investors and Big Tech firms have been among the most ambitious in their targets.

Russia’s crypto mining capacity could grow by a further 6.9 gigawatts (GW), the nation’s grid operator has claimed.

Ukraine war: Russia's air defence systems destroyed 36 drones that Ukraine launched overnight targeting several regions in Russia's southwest, the Russian defence ministry said on Sunday.

HubSpot said on Friday it is investigating a cybersecurity incident that targeted its customers. «On June 22, we identified a security incident that involved bad actors targeting a limited number of HubSpot customers and attempting to gain unauthorized access to their accounts,» a HubSpot spokesperson told Reuters in an emailed statement.

Alaska Airlines said on Friday it has returned to Boeing the 737 MAX 9 plane that in January was involved in a mid-air door panel blowout. «They have taken possession of it and the registration has been changed,» an Alaska Airlines spokesperson said, adding an order for a new 737-10 has also been placed. Boeing has informed its suppliers there will be a delay in a key production milestone for its 737 jet family by three months, sources told Reuters' earlier this month.

A US District Court judge has signed off the settlement two months after a jury found Terraform and Kwon civilly liable for fraud after the $40 billion collapse of the company and its ecosystem.The collapse happened after, in May 2022, the TerraUSD stablecoin was de-pegged from the US dollar, prompting it and Terraform’s other tokens to plummet to close to zero in value, leading to "devastating losses to countless investors," says the SEC.Terra's implosion also set off a series of devastating events for the crypto industry, causing the failure of crypto hedge fund Three Arrows Capital which, in turn, hit Genesis Global Capital and FTX.SEC Chair Gary Gensler says: “Terraform and Do Kwon’s fraudulent activities caused devastating losses for investors, in some cases wiping out entire life savings. Their fraud serves as a reminder that, when firms fail to comply with the law, investors get hurt."The judgement, to which Terraform and Kwon consented, includes $4.05 billion of disgorgement plus interest, and a $420 million civil fine for the company.

Britain's economy grew 0.7% in the first three months of this year compared with the previous quarter, above an initial estimate of 0.6% growth, official figures showed on Friday. The figures come less than a week before Britons vote in an election which opinion polls suggest will see Labour Party leader Keir Starmer replace Conservative Prime Minister Rishi Sunak.

Also Read: JP Morgan bond index India inclusion: Explained key changes, flows, impact on yields, what should investors doIGBs issued by the Reserve Bank of India (RBI) under the Fully Accessible Route (FAR) will be included in the global indices. According to JPMorgan, the average maturity of the Indian bonds included is seven years, with a yield-to-maturity (YTM) of 7.09%.

slowdown in India's fast-growing economy held steady in the first Reuters poll of economists since the ruling Bharatiya Janata Party (BJP) lost its parliamentary majority in phased national elections that ended in early June. Asia's third-largest economy grew 8.2% in the last fiscal year, the fastest among major economies. But growth is set to slow to 7.0% and then 6.7% in the current and next fiscal years, according to a June 19-27 Reuters poll of over 50 economists.

Whirlpool of India rose 19% on BSE to its fresh all-time high of Rs 2,190 as German engineering group Robert Bosch is reportedly weighing a bid for the parent company Whirlpool Corporation. The privately held German industrial firm has been consulting with potential advisers about a possible bid for Whirlpool Corporation, Reuters said, citing three people familiar with the matter

Apple and Foxconn acknowledged lapses in hiring practices in 2022 and said they had worked to address the issues. However, all the discriminatory practices documented by Reuters at the Sriperumbudur plant near Chennai took place in 2023 and 2024.

Also Read: JPMorgan on track to include India in emerging market debt index from June; How will it impact Indian bonds and yields?The index weighting of India bonds is expected to reach a maximum weight of 10% in GBI-EM Global Diversified Index, 8.7% in the GBI-EM Global Index and 14.59% in the GBI-EM Global Diversified IG 15% Cap Index.Europe, Middle East and Africa (EMEA) area is estimated to see the largest regional hit to index weight. EMEA EM's aggregate weight is expected to drop to 26.2% by March when India's inclusion is complete compared to around 32% at the start of this month, Reuters reported.With India’s addition, Asia’s weight is estimated to increase to 47.6% in the index, HSBC Plc said in a note.

Boeing as the U.S. Justice Department has until July 7 to decide whether to prosecute the planemaker after prosecutors alleged the company violated a deferred prosecution agreement related to two fatal crashes, with lawyers recommending criminal charges.Officials alleged in May that the 2021 agreement, which shielded Boeing from a criminal charge of conspiracy to commit fraud arising from the 2018 and 2019 fatal crashes involving the 737 MAX jet, had been breached.Arnold & Porter law firm partner Deborah Curtis told Global News the recommendations of charges will add to the impact Boeing has been dealing with in the past months.“This is not something that’s going away easily for Boeing at all,” she said in an interview.