TMS Ep210: Govt vs Big Tech, SEZs in India, crude oil prices, IPO allotment

India is seeing yet another showdown between Twitter and regulators. And the recent one is being played out in the corridors of Karnataka High Court. The microblogging site has challenged some of the government’s directives asking it to take down certain posts. Twitter is not ready to budge, and so is the … Read more

TV handyman in a fix over oil leak

“Home Improvement” star Tim Allen will be on the hook for environmental cleanup costs after his yacht started leaking oil into Lake Michigan over the holiday weekend. According to Michigan news site MLive, a faulty fuel seal on Mr. Allen’s yacht led to 30 to 50 gallons of diesel leaking into the water by the … Read more

European gas prices pause as Norway oil and gas strike ends (NYSEARCA:UNG)

straga/iStock via Getty Images European natural gas prices fell on Wednesday from four-month highs after Norway’s government intervened to end a strike of oil and gas workers that threatened to exacerbate the region’s supply shortage. According to CNBC, the European benchmark gas price at the Dutch TTF hub recently traded -2.5% at €161/MWh, after the … Read more

Ukraine war: India, China buy Russian oil and gas worth $24 bn in 3 months

Russia has pocketed $24 billion from selling energy to China and India in just three months following its invasion of Ukraine, showing how higher global prices are limiting efforts by the US and Europe to punish President Vladimir Putin. China spent $18.9 billion on Russian oil, gas and coal … Read more

Recession Fears Sink Oil and May Sap Asian Stocks: Markets Wrap

Breadcrumb Trail Links PMN Business (Bloomberg) — Stocks in Asia are set to come under pressure Wednesday after fears of an economic downturn tightened their grip on financial markets, sinking oil and spurring rallies in the dollar and Treasuries. Author of the article: Bloomberg News Sunil Jagtiani Publishing date: Jul 05, 2022  •  29 minutes ago … Read more

Food ministry calls meeting of edible oil firms to reduce retail prices

The food ministry has called a meeting on Wednesday with edible oil industry bodies and manufacturers to discuss reduction in the retail prices of cooking oils amid a fall in global prices. Speaking on the sidelines of a conference, Food Secretary Sudhanshu Pandey informed that a meeting has been … Read more

Oil Plummets Below $100 as Recession Risks Come to Forefront

(Bloomberg) — Oil futures dropped below $100 a barrel for the first time since May as concerns grow that a global economic slowdown will ultimately hobble demand. Most Read from Bloomberg West Texas Intermediate crude futures dropped as much as 9.3% to near $98 a barrel. Oil was pressured in a low liquidity session on … Read more

S&P 500 posts worst H1 in 52 years; energy only gainer, as as oil prices soared

The S&P 500 ended the first half of the year with a 20.6% fall, marking its worst H1 since 1970. Alongside the benchmark index, the SPDR S&P 500 Trust ETF (NYSEARCA:SPY) also lost 20.6%. A combination of factors caused the slump, starting with surging COVID-19 cases driven by the Omicron variant at the beginning of … Read more