Page 5 - Reuters

TCS, Infosys have highest exposure to US regional banks: JPMorgan

Top Indian information technology firms Tata Consultancy Services and Infosys have the highest exposure to regional banks in the United States that are gripped by a financial turmoil

SVB Financial seeks bankruptcy protection as banking turmoil persists

Shares of big US banks fell between 1.5% and 2% in premarket trading on Friday

Wall Street falls on banking crisis worries; First Republic Bank tumbles

Indexes down: Dow 0.63%, S&P 0.36%, Nasdaq 0.25%

US manufacturing output ekes out gains in Feb due to high interest rate

The Institute for Supply Management's measure of national manufacturing activity has contracted for four straight months

Foreign exchange reserves fall $2.4 bn to over 3-month low of $560 bn

The reserves stood at $562.40 billion in the week to March 3

OECD hikes global economic growth outlook, but warns recovery fragile

2023 global growth forecast raised to 2.6% from 2.2% previously; OECD says risks to outlook remain high as interest rates rise

China cuts banks' reserve ratio for first time in 2023 to support recovery

PBOC said it would cut the reserve requirement ratio (RRR) for all banks, except those that have implemented a 5% reserve ratio, by 25 basis points (bps), effective March 27

ECB supervisors meet over banking stress as US rescue eases immediate fears

The rescue package came less than a day after Credit Suisse clinched an emergency central bank loan of up to $54 billion to shore up its liquidity

Sebi looking for ways to plug gaps allowing founders to own stock options

The Securities and Exchange Board of India (SEBI) does not want founders to own stock options if they have rights akin to those enjoyed by promoters

Indian startups have deposits of about $1 bn in SVB: Deputy IT minister

Indian startups had deposits worth about $1 billion with embattled Silicon Valley Bank and the country's deputy IT minister said he had suggested that local banks lend more to them going ahead

Bank rescues ease crisis fears but investors worry it's not enough

The package came less than a day after Swiss bank Credit Suisse clinched an emergency central bank loan of up to $54 billion to shore up its liquidity

UBS Group, Credit Suisse oppose idea of forced merger, says report

Wall Street bank JPMorgan on Wednesday said that Credit Suisse's takeover by another lender, probably UBS, was the most likely scenario for the embattled bank

Malaysia's Petronas offers $460 mn for stake in NTPC's green arm: Report

The deal was the first time an Indian state-run company has offered a stake in a renewable energy arm and comes as the country's renewables sector is attracting increasing foreign investment

Eris Lifesciences Ltd buys 9 dermatology brands from Dr Reddy's for $33 mn

Eris and Dr. Reddy's did not immediately respond to Reuters' requests seeking the names of the dermatology brands

Baidu unveils ChatGPT-rival Ernie Bot, shares tumble; 650 companies sign up

The company's Ernie bot is based off its AI-driven deep learning model, Ernie - short for "Enhanced Representation through Knowledge Integration"

India should keep lid on wheat exports to replenish local stocks: Millers

India should keep lid on wheat exports to replenish local stocks, flour millers say

JPMorgan, Morgan Stanley among banks in deal talks with First Republic

The rescue is being orchestrated by the U.S. government, Bloomberg News reported on Thursday, citing people with knowledge of the matter

US regulator eyes Friday bids for SVB and Signature Bank, says report

This will be the FDIC's second attempt at selling SVB after a failed effort on Sunday

Euro, Swiss franc recover as market mood improves, traders await ECB meet

But the news of the Swiss National Bank's support for Credit Suisse did calm the mood somewhat

Softer impact of Credit Suisse crisis likely on Indian banks: Jefferies

Credit Suisse has a 1.5% share among foreign banks' assets in India and a 'small' 0.1% share of overall banking assets in the country, Jefferies estimated