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US wholesale inflation accelerated sharply in April, with producer prices recording their biggest annual increase since December 2022 as the 10-week Iran war pushed up energy costs and added pressure on companies to raise prices for consumers, AP reported.The US Labor Department said on Wednesday that its producer price index (PPI), which measures inflation before…
NEW DELHI: Air India has cut a further about 200 weekly flights from June to August, including a number of long hauls, in a bid to stem losses amid the sharp hike in jet fuel prices and the rupee’s crash. These cuts come on top of the about 90 flights cuts in May. The airline,…
US defense secretary Pete Hegseth defended President Donald Trump’s proposed $1.5 trillion military budget before House and Senate lawmakers on Tuesday, as Congress pressed the Pentagon over the rising cost of the Iran war, weapons stockpiles and the administration’s long-term strategy in the conflict.The hearings came as the Trump administration faces growing pressure from the…
India may have enough fuel in its tanks for now but rising global crude prices combined with unchanged domestic rates are pointing towards a pressing question: How likely are petrol and diesel price hikes?The government has repeatedly assured citizens that there is no fuel shortage or rationing plan despite global energy market disruptions caused by…
US inflation rose in April to 3.8 per cent as surging fuel costs amid the ongoing Iran-US conflict drove up consumer prices, hitting a three-year high complicating the Federal Reserve’s path on interest rates.Data released by the Labor Department on Tuesday showed the Consumer Price Index (CPI) increased 0.6 per cent in April after a…
Tilak Varma and Naman Dhir (X-IPL) A breathtaking late twist unfolded between Royal Challengers Bengaluru and Mumbai Indians as the IPL 2026 clash in Raipur went right down to the final ball. With RCB needing 30 runs from the final three overs, tension was clearly visible in the Bengaluru dugout. Krunal Pandya was the lone…
NEW DELHI: Indian Railways is staring at higher electricity costs after the Supreme Court last week ruled that the national transporter qualifies as a “consumer” under the Electricity Act. As a result, it will remain liable to pay cross-subsidy surcharge (CSS) and additional surcharge while buying electricity through open access for its own consumption, impacting…
MUMBAI: Banks have asked govt to review the definition of affordable housing by revising property value and size thresholds to reflect inflation and changing requirements, as rising ticket sizes and interest costs render existing limits less relevant.“We are the market leaders in housing finance and our home loan portfolio has grown by 13.7%. Our average…
America’s widening income divide has become more visible after the sharp rise in fuel prices linked to the Iran war, with lower-income households forced to cut back on driving even as their spending on gasoline increased, according to a new Federal Reserve Bank of New York study cited by AP.The report showed that while wealthier…
Petrol (Gasoline) prices in the United States have surged sharply since the start of the Iran war, with the average price of regular fuel climbing to $4.48 per gallon, up 31 cents in the past week alone, AP reported citing AAA.Fuel prices are now about 50 per cent higher than before the conflict began, driven…
