
The Hindu Business Line
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Business · SwitzerlandUBS said it will pay $3.2 billion for the 167-year-old flagship. UBS would also take on the first $5.4 billion in losses from unwinding derivatives. The total of 259 billion francs of support is equivalent to a third of Switzerland's entire economic output.
Switzerland puts up 260 billion francs for Credit Suisse rescue
Coverage: 5 sources
Gautam AdaniAdani Group has suspended work on a Rs 34,900 crore petrochemical project at Mundra in Gujarat. The group's flagship Adani Enterprises Ltd (AEL) had in 2021 incorporated a wholly-owned subsidiary, Mundra Petrochem Ltd. The unit was to have a poly-vinyl-chloride (PVC) production capacity of 2,000 KTPA (kilo tonne per annum)
Hindenburg fallout: Adani Group suspends work on Rs 34,900 cr petchem project
40% Right coverage: 10 sources
India · IndiaJindal Steel and Power (JSP) has received Bureau of Indian Standards (BIS) certification to manufacture India's first fire-resistant steel structures. The hot rolled structural steel, manufactured as per IS 15103, can be used for high-temperature or fire-prone areas and can withstand temperatures up to 600 degrees Celsius.
Jindal Steel gets India's first BIS licence to make fire-resistant steel
75% Right coverage: 4 sources
Elon Musk · San FranciscoTwitter owner Elon Musk on Friday announced that the social media platform will soon make public the long-secret algorithm for recommending tweets. The code through which recommendations for posts are made to users will become "open source" by the end of March, said Musk in a tweet.
Twitter to make its code used for recommending tweets public, says Elon Musk
50% Right coverage: 18 sources
AsiaMinister of State for Finance Bhagwat K. Karad also said the NPA ratio of public sector banks has improved — declining from the peak of 14.6% in March 2018 to 5.53% in December 2022
PSU banks earned total profit of ₹70,167 crore in April-December FY23: Govt.
Coverage: 2 sources
Pay Pension Dues to Ex-Army Personnel Under OROP Scheme By Feb 28, 2024: SC Tells Centre
100% Right coverage: 3 sources
Business · New York A coalition of midsize U.S. banks, Mid-Size Bank Coalition of America (MBCA), has asked regulators to extend FDIC insurance to all deposits for the next two years, Bloomberg News reported on Saturday citing an MBCA letter to regulators.
Midsize U.S. banks reportedly ask the FDIC to insure all deposits for two years
46% Left coverage: 11 sources
Latin America · QuitoA strong earthquake shook southern Ecuador and northern Peru on Saturday, killing at least 15 people, trapping others under rubble, and sending rescue teams out into streets littered with debris and fallen power lines.
At least 16 dead after magnitude 6.8 earthquake shakes Ecuador
51% Center coverage: 214 sources