Category: Business

After raising cooking gas prices by Rs 125 per cylinder last month, state-owned oil firms on Wednesday announced a Rs 10 per cylinder cut in LPG rates on softening international oil prices. A 14.2-kg LPG cylinder — both for subsidised and market price users — will cost Rs 809 from April 1 as against Rs […]

Facebook Chief Executive Mark Zuckerberg laid out steps to reform a key internet law on Wednesday, saying that companies should have immunity from liability only if they follow best practices for removing damaging material from their platforms. In testimony prepared for a joint hearing before two House Energy and Commerce subcommittees on Thursday, Zuckerberg acknowledged […]

Some owners of Hyundai Motor’s Kona electric vehicles say the South Korean automaker is bungling a major recall with delays and poor communication, and risks losing buyers as it targets the No.3 spot in the fast-growing sector. Hyundai said last month it would replace the battery systems in some 82,000 electric vehicles globally at a […]

The owner and insurers of one of the world’s largest container ships stuck in the Suez Canal face claims totalling millions of dollars even if the ship is refloated quickly, industry sources said on Wednesday. The 400-metre, 224,000-tonne Ever Given ran aground on Tuesday morning after losing the ability to steer amid high winds and […]

The shortest shipping route from Europe to Asia remained blocked on Wednesday as 10 tug boats struggled to free one of the world’s largest container ships after it ran aground in the Suez Canal. The 400-metre, 224,000-tonne Ever Given ran aground on Tuesday morning after losing the ability to steer amid high winds and a […]

Wall Street’s appetite for new special purpose acquisition companies (SPACs) shows signs of waning. First-day trading pops, or share price rises, for SPACs were commonplace earlier this year with gains rising to over 30% but have faded in March amid a broader selloff in many companies that have agreed to go public through a SPAC […]

The United States and Taiwan are natural partners when it comes to semiconductors and promoting this cooperation is a U.S. priority, the de facto U.S. ambassador in Taiwan said on Thursday. Washington has increasingly viewed tech-powerhouse and democratically ruled Taiwan as a key part of its strategy to shift global supply chains away from China, […]