Flashfloods, landslides as rains lash parts of J&K; schools shut in Doda, Kishtwar, Ramban

Heavy rains lashed parts of Jammu & Kashmir Wednesday, triggering flashfloods and landslides that blocked the strategic Jammu-Srinagar national highway with hundreds of vehicles stranded, and prompted authorities to shut schools in Doda, Kishtwar and Ramban districts. A non-fatal incident of house collapse was also reported from Ramban district, … Read more

Global Stocks Gain Ground; U.S. Market Shut

International stocks broadly rose in the absence of fresh news about inflation and interest rates, while U.S. markets were closed for the Juneteenth public holiday. Stocks and bonds have been pummeled globally this year. Driving the selloff are the push by the Federal Reserve and other central banks to quell inflation, and concerns that higher … Read more

Divestment not to shut down PSEs but prime them up: FM Sitharaman

Finance Minister Nirmala Sitharaman on Friday said the principle of the government’s disinvestment programme was not to shut down any unit or company but to make them more efficient and professionally driven. Highlighting that public sector enterprises (PSEs) that were privatised between 1994 and 2004 are being driven by … Read more

India-Myanmar border trade to resume soon after being shut for two years

More than two years after closure of the India-Myanmar trade, the bilateral business through Manipur’s Moreh-Tamu border would resume soon, officials said on Friday. The official trade through the Moreh Integrated Check Post (ICP) has been closed since March 2020 after the Covid-19 pandemic outbreak. The External Affairs Ministry’s Border … Read more

Airbnb to shut domestic business in China from July 30 By Reuters

2/2 © Reuters. FILE PHOTO: Airbnb Co-Founder and CEO Brian Chesky speaks at an event to launch the brand’s Chinese name, in Shanghai, China, March 22, 2017. REUTERS/Adam Jourdan 2/2 By Josh Ye and Brenda Goh HONG KONG/SHANGHAI (Reuters) -Vacation rental firm Airbnb Inc said on Tuesday it will shut down all listings and experiences … Read more

‘We did not have a plan for a country to shut down’ — Cisco stock plunges 13% as China lockdown affects supply and outlook

Cisco Systems Inc. shares plunged in the extended session Wednesday after the tech bellwether’s revenue forecast came up more than $1 billion short of Wall Street expectations, which executives blamed on COVID shutdowns in China. Cisco CSCO, -4.43% shares dropped 13% after hours, following a 4.4% decline in the regular session to close at $48.36. … Read more

Melvin Capital to shut after heavy losses on meme stocks, market slump

Breadcrumb Trail Links PMN Technology PMN Business Author of the article: Reuters Svea Herbst-Bayliss Publishing date: May 18, 2022  •  32 minutes ago  •  2 minute read  •  Join the conversation Article content Melvin Capital, once one of Wall Street’s most successful hedge funds which then lost billions in the meme stock saga, will shut down … Read more

Russia-exposed asset managers to shut funds permanently

Fund managers including Danske, Nordea and Jupiter have taken steps to permanently shut down funds heavily exposed to Russia, in the latest sign that investors do not expect the country to rejoin global markets for many years. Most funds with big holdings in Russian securities have been frozen since early March, shortly after Russia invaded … Read more

Warren Buffett explains why he ‘shut up’ on politically-charged issues

Warren Buffett is famous for pontificating on everything from the business world to nuclear war during Berkshire Hathaway’s (BRK-A, BRK-B) annual shareholders meeting. But at this year’s gathering, the CEO explained why he’s not speaking on politically charged topics — because doing so could affect Berkshire and the companies it invests in. “I don’t want … Read more