Reliance Industries’ (RIL’s) retail arm, Reliance Retail, is now valued at nearly twice the amount of its decades-old and lucrative oil-to-chemical (O2C) division. Bernstein’s latest report on the conglomerate projects a valuation of $112 billion for its retail business, dwarfing the $57 billion valuation of its O2C division. In addition, the research firm valued Jio Platforms, the company’s telecom arm, […]

Asian stocks advanced on Thursday after the U.S. Federal Reserve reiterated its fight against inflation and Chair Jerome Powell said staff economists at the central bank no longer foresee a recession. Samsung Electronics forecast a gradual global chip demand recovery, helping lift technology stocks in the region. Data showed the decline in China’s industrial profits narrowed for the straight month […]

Meta, the company behind Facebook and Instagram, has started blocking news articles on its social networking services in Canada. The change, in response to a new law in Canada that requires tech companies to pay news outlets for using their content, will roll out “over the course of the next few weeks,” Meta said in a blog post on Tuesday. […]

ITC’s move to demerge the hotel business into a new entity, ITC Hotels Ltd, is a step in the right direction and will allay investor’s concerns on the company’s capital allocation strategy in the medium-to-long term, said analysts at Morgan Stanley in a note. According to the company, the board of directors has approved in principle the demerger of the […]

Frustrated with the lack of progress on a safe zone for picketers outside of the NBC-Universal lot, SAG-AFTRA Board Member Secretary-Treasurer Joely Fisher was joined by WGA Negotiating Committee Co-Chair David Goodman and U.S. Representative Jimmy Gomez (CA-34) Tuesday to hand deliver a petition demanding a swifter resolution. The WGA says its been eight weeks since the LAPD’s Labor Relations […]

Showtime’s four-part docuseries on the Supreme Court, Deadlocked: How America Shaped the Supreme Court, will premiere its first episode on September 22, amid a period of intense concern over the impact and integrity of the high court. From director Dawn Porter, the project delves into the modern era of the court, going back to the Earl Warren court of the […]

Human-induced climate change contributed to the intensity of the extreme July heat across three continents in the Northern Hemisphere, according to a new analysis released Tuesday. Unless the world rapidly stops burning fossil fuels, these events will become even more common and the world will experience heatwaves that are even hotter and longer-lasting, the World Weather Attribution initiative warned in […]

After ending the previous session mostly higher, stocks are turning in a relatively lackluster performance in morning trading on Tuesday. The Dow and the S&P 500 are holding close to the unchanged, although the tech-heavy Nasdaq has climbed more firmly into positive territory. Currently, the Nasdaq is off its best levels of the day but still up 57.43 points or […]

With air bases all over the world, and multibillion-dollar investments in technologically advanced warplanes, aircraft carriers, and weapons systems, air power is central to America’s global projection of its military strength. To achieve and maintain air superiority, the U.S. military has some of the most advanced aircraft on the planet, many of which cost tens of millions of dollars a […]