Business

The world’s wealthiest families are reassessing their dependence on the US dollar amid rising geopolitical tensions and growing concerns over sovereign debt, Reuters reported citing UBS’s Global Family Office Report 2026.The survey by the Swiss bank found that nearly two-thirds of family offices expect confidence in the US dollar as a global reserve currency to…

Inflation in the US accelerated in April to its highest level in three years, driven by rising fuel and food prices as the economic fallout from President Donald Trump’s Iran war continued to weigh on household budgets.Data released by the Commerce Department on Thursday showed that the personal consumption expenditures (PCE) index — the Federal…

Nomination determines the individual entitled to receive statutory dues and benefits in the event of unforeseen circumstances. (AI image) As India moves towards implementing the four labour codes, pursuant to the notification of the final central rules on 8 May 2026, much of the attention has been on wages, working hours and social security. However,…

New Delhi: India’s energy investment is likely to reach a record $170 billion in 2026, driven by a push towards renewable energy capacity addition, strengthening of transmission and distribution networks, and deployment of storage systems to support the grid and reduce curtailment, the International Energy Agency (IEA) said in its latest report.The power sector accounts…

Rising mortgage rates are adding to pressure on the US housing market, with the average long-term home loan rate climbing to its highest level in nine months and further weakening affordability for buyers, AP reported.Freddie Mac said on Thursday that the average rate on a 30-year fixed mortgage rose to 6.53 per cent from 6.51…

Reliance Industries is placing artificial intelligence at the centre of its media and entertainment strategy as it looks to drive the next phase of growth across streaming, television and digital content businesses, PTI reported.In its latest annual report, the Mukesh Ambani-led conglomerate said AI will play a defining role in the future of entertainment and…

The government is finalising a new policy to promote coal gasification-based urea manufacturing as part of efforts to reduce dependence on imported natural gas and boost self-reliance in fertiliser production, PTI reported.An official said the policy is expected to be ready within a month.“We are in the process of making our new policy for coal…

US stocks hovered near record levels on Thursday even as oil prices climbed again amid renewed tensions linked to the Iran conflict, with strong corporate earnings continuing to support investor sentiment.The S&P 500 slipped 0.1 per cent from its record high reached a day earlier, reported AP. The Dow Jones Industrial Average fell 219 points,…

The US economy grew at a slower pace than initially estimated in the first quarter of 2026, with consumer spending and investment revised downward, government data showed on Thursday, AFP reported.Gross domestic product (GDP) in the world’s largest economy expanded at an annual rate of 1.6 per cent during the January-March period, according to the…

Life Insurance Corporation of India (LIC) is reviewing its vast real estate portfolio to improve returns and may explore setting up a separate subsidiary to manage the assets more efficiently, PTI reported.LIC’s real estate holdings, accumulated over nearly seven decades, are conservatively estimated at more than Rs 60,000 crore.“We have substantial real estate, both inherited…