Reuters India Business

By Brijesh Patel (Reuters) -India’s crude oil imports in November rose to their highest level in 10 months as refiners stocked up to boost runs in anticipation of strong demand in the world’s third-largest oil consumer and importer. Crude oil imports last month rose 7.5% versus October and were also 0.5% higher than a year …

India’s crude imports hit 10-month peak as refiners bank on strong demand Read More »

By Carolyn Cohn and Aftab Ahmed NEW DELHI (Reuters) -HSBC is buying the mutual fund arm of India’s L&T Finance Holdings for $425 million, it said on Thursday, as it looks to build up its wealth business in Asia. Under a strategy spearheaded by Group CEO Noel Quinn, HSBC is ploughing $3.5 billion into its …

HSBC buys India L&T’s mutual fund arm for $425 million in wealth expansion Read More »

By Aditya Kalra and Abhirup Roy NEW DELHI (Reuters) – Amazon.com Inc is taking India’s financial crime fighting agency to court, seeking to quash an investigation into one of its 2019 deals, a court filing seen by Reuters shows. India’s Enforcement Directorate (ED) has for months been probing Amazon’s $200 million investment in India’s Future …

Amazon sues financial crime agency in latest twist of Indian battle Read More »

(Reuters) -Several apps and websites, including those of streaming service Hulu, office messaging app Slack and Epic Games, were up and running after being hit by a brief power outage at one of Amazon.com Inc’s data servers on the U.S. East Coast. “The issue has been resolved and the service is operating normally,” AWS said. …

Amazon restores cloud services after power outage hits data center Read More »

BENGALURU (Reuters) – Indian shares closed higher on Wednesday for a second straight session, with auto and metal stocks leading gains, as investors used dips to buy after a broad-based selloff early in the week. The NSE Nifty 50 index and the benchmark S&P BSE Sensex ended up 1.1% each at 16,955.45 and 56,930.56, respectively. …

Indian shares end over 1% higher as auto, metals rally Read More »

By Chandini Monnappa BENGALURU (Reuters) – Sony’s India unit has finalised a deal with local rival Zee Entertainment to merge their television channels, film assets and streaming platforms, joining forces to take on the likes of Netflix and Disney in India. India, still heavy on direct-to-home TV entertainment, has in the past few years seen …

Sony, Zee lock India merger to create mega TV network Read More »

By Jessica DiNapoli NEW YORK (Reuters) – Wall Street closed significantly higher on Tuesday after a bruising session the prior day, with oil prices also gaining as investors sought riskier assets despite surging cases of the Omicron coronavirus variant around the world. U.S. President Joe Biden said on Tuesday he would be taking steps to …

Global stocks rise sharply with investors’ renewed risk appetite; oil settles up Read More »