Business

Kinder Morgan raises outlook as profit surges on winter storm demand

Kinder Morgan (KMI.N) on Wednesday posted a quarterly profit that breezed past estimates, helping the U.S. pipeline operator raise its annual earnings forecast, on a demand surge for natural gas and electricity during the February winter storm. The company’s shares rose 2.7% in extended trading. A deep freeze that swept parts of the United States […]

Business

Tesla comes under growing China pressure after customer complaint

Tesla Inc (TSLA.O) came under increased pressure in China on Wednesday from regulators and state media after Monday’s protest by a disgruntled customer at the Shanghai auto show went viral and forced the electric car maker into a rare apology. The singling-out of Tesla in China, which accounts for 30% of the U.S. firm’s global […]

Business

Credit Suisse had more than $20 billion exposure to Archegos investments – WSJ

Credit Suisse Group (CSGN.S) had more than $20 billion of exposure to investments related to Archegos Capital Management and struggled to monitor them before the fund had to liquidate many large positions, the Wall Street Journal reported. Parts of the bank had not fully implemented systems to keep pace with Archegos’ fast growth when Archegos […]

Business

Texas wind farms sue Citigroup over charges from winter storm

A Canadian renewable energy firm on Wednesday sued Citigroup Inc for rejecting force majeure declarations during a February winter storm and billing it over $100 million for replacement power, according to lawsuits filed in a Texas state court. Shannon Wind and Flat Top Wind, subsidiaries of Innergex Renewable Energy Inc (INE.TO), operate North Texas wind […]

Business

The housing boom, central banks and the inflation conundrum

A multi-year boom in global house prices which even a pandemic has failed to halt is forcing central banks around the world to confront a knotty question – what, if anything, should they be doing about it? The surge in property values from Australia to Sweden is often viewed benignly by governments as creating wealth. […]

Business

Stock Market: Sensex, Nifty End Marginally Higher on F&O Expiry

Market benchmarks Sensex and Nifty ended marginally higher as monthly derivatives expired on Thursday amid a largely positive trend in global equities. After gyrating 840 points during the day, the 30-share BSE index finished 32.10 points or 0.06 per cent higher at 49,765.94. Similarly, the broader NSE Nifty advanced 30.35 points or 0.20 per cent […]