Russia Investigates Merging Oil Giants to Become a Mega Producer

Russia Investigates Merging Oil Giants to Become a Mega Producer

With nearly three times Exxon Mobil's output, the resulting company would easily be the second-largest crude producer in the world, behind Saudi Arabia's Aramco.Moscow is working on a plan to merge its biggest oil companies into a single national champion, a deal that would tighten President Vladimir Putin’s grip on global energy markets and Russia’s wartime economy.According to persons familiar with the talks, one scenario being explored would see state-backed major Rosneft Oil acquire independently-owned Lukoil and fellow state producer Gazprom Neft, a division of natural-gas exporter Gazprom. All three companies are subject to U.S. sanctions. Russia is exploring a plan to merge its three largest oil companies into a single producer. The merger would create the world's second-largest oil producer, after Saudi Arabia's Aramco.According to the Wall Street Journal, the Russian government is allegedly developing a plan to combine the nation's biggest oil companies into a national mega-producer, which would make it the second-largest producer in the world and bolster Russian President Vladimir Putin's control over international energy markets.  

Published 22 Jan 2025 08:55 PM

Building-Products Distributor QXO Prepares to Nominate Directors Over Beacon Deal

Building-Products Distributor QXO Prepares to Nominate Directors Over Beacon Deal

QXO publishes offer to buy Beacon for $124.25 per share, says it has been rebuffed time and againQXO said Wednesday that it has secured the committed financing for a deal and is prepared to nominate directors to Beacon's board. It also said it told Beacon that the offer of $124.25 is “very close to the highest end” of what it is willing to pay.QXO, Inc. (Nasdaq: QXO) today announced that it has made public a proposal to the Board of Directors of Beacon Roofing Supply, Inc. (Nasdaq: BECN) to acquire all outstanding shares of Beacon for $124.25 per share in cash. The proposal implies a total transaction value of approximately $11 billion and a 37% premium above Beacon’s 90-day unaffected volume-weighted average price of $91.02. “Our all-cash offer provides compelling value. We think Beacon shareholders have a right to consider our proposal, despite the attempt by Beacon’s Board of Directors to conceal it from them,” said Brad Jacobs, chairman and chief executive officer of QXO.  

Published 16 Jan 2025 09:33 PM

CY24 saw a 38% increase in M&A activity in India, with a $35 billion IPO pipeline.

CY24 saw a 38% increase in M&A activity in India, with a $35 billion IPO pipeline.

Indian conglomerates and international private equity investors were the main drivers of India's 38% increase in M&A activity in CY24, which reached $109 billion. With an active IPO pipeline, the equity capital market raised $74 billion. India is becoming a preferred monetization option for MNCs.Mumbai: In CY24, India's M&A activity increased by 38% to $109 billion from $79 billion the previous year. A research by Kotak Mahindra Investment Bank claims that this increase is indicative of strong investor confidence in India's growth story. Indian conglomerates and international private equity investors were the main drivers of India's 38% increase in M&A activity in CY24, which reached $109 billion. With an active IPO pipeline, the equity capital market raised $74 billion.  

Published 13 Jan 2025 09:49 PM

Shutterstock and Getty Images will merge in a $3.7 billion deal.

Shutterstock and Getty Images will merge in a $3.7 billion deal.

Shutterstock and Getty Images Holdings have reached an agreement to combine into a single visual content business with an estimated enterprise value of $3.7 billion. When the merger closes, Getty stockholders will own around 54.7% of the combined business, which will continue to use the Getty name, the firms announced Tuesday. Ownership of the remaining 45.3% will go to shutterstock stockholders.The $3.7 billion visual content company that will be created by the merger of Shutterstock and Getty Images will add a variety of items to their portfolios.The $3.7 billion visual content company will be formed by the merger of Shutterstock and Getty Images. Getty Images CEO Craig Peters said in a statement on Tuesday that "never has there been a better time for our two businesses to come together, given the rapid rise in demand for compelling visual content across industries."Peters will be the combined company's chief executive officer. The shareholders of Shutterstock will have the option of receiving a mixed consideration of 9.17 shares of Getty Images common stock plus $9.50 in cash for each share of Shutterstock common stock they own, or approximately $28.85 per share in cash for each share of Shutterstock common stock they own. Alternatively, they will receive 13.67 shares of Getty Images common stock for each share of Shutterstock common stock they own.  

Published 07 Jan 2025 10:05 PM

Highlights of the Budget and Economic Survey: As the budget session starts, FM Nirmala Sitharaman presents the Indian economy report.

Highlights of the Budget and Economic Survey: As the budget session starts, FM Nirmala Sitharaman presents the Indian economy report.

Highlights of the Budget and Economic Survey: On January 31, Union Finance Minister Nirmala Sitharaman will deliver the Economic Survey, which examines the Indian economy, governmental policies, and prospects for the future. It discusses socioeconomic problems including poverty and education as well as macroeconomic performance.Highlights of the Budget and Economic Survey: On January 31, Union Finance Minister Nirmala Sitharaman will deliver the Economic Survey to Parliament, which will include a thorough examination of the Indian economy with an emphasis on a few important areas. Economic Survey: What Is It? The Indian economy's performance, governmental policies, and prospects for the next fiscal year are all summarized in the Economic Survey. It is separated into two sections: Part A examines economic performance, focusing on fiscal trends and macroeconomic statistics, while Part B discusses socioeconomic concerns like poverty, education, climate change, and the prospects for GDP growth, inflation, and trade.The Economic Survey is created by whom? The Department of Economic Affairs' economic section, led by Chief Economic Advisor (CEA) V Anantha Nageswaran, prepares the Economic Survey. The Economic Survey will be presented by whom? One day prior to the budget speech, on January 31, Union Finance Minister Nirmala Sitharaman will deliver the Economic Survey to the Parliament.  

Published 31 Jan 2025 10:22 PM

EUR/USD remains firm as Trump raises tariffs cautiously

EUR/USD remains firm as Trump raises tariffs cautiously

As US President Donald Trump announced lower-than-expected tariffs on China, EUR/USD stayed strong above 1.0400. ECB's Lagarde cautioned that the Euro bloc should be ready for US tariffs, while ECB's Stournaras said that if the US imposes tariffs on the Eurozone, the pace of policy easing could quicken.In Wednesday's North American session, the EUR/USD maintains its rise above the crucial support level of 1.0400. As investors assess the United States' (US) clear tariff measures to construct new positions, the key currency pair continues to rise. Following a new two-week low of 107.75, the US Dollar Index (DXY), which measures the value of the US dollar relative to six major currencies, recovers intraday losses.United States (US) President Donald Trump is ready to hike 25% tariffs on Mexico and Canada and 10% on China, which will come into effect on February 1. Although he hasn't given specifics yet, Trump has also pledged to address trade imbalances with the Eurozone. Trump stated on Monday that he would either "raise tariffs or Europe buy more US oil and gas" to address the trade deficit. The US Dollar's (USD) demand as a safe haven is declining as a result of these tariff calls, which seem less alarming than what market players had expected from Trump's remarks during the election campaign.Traders may be forced to reduce their bets on the Federal Reserve (Fed) to maintain interest rates at their current levels for an extended period of time if Trump's tariff rises are less drastic than anticipated. Market investors currently anticipate that for the next three policy sessions, the Fed will maintain borrowing rates between 4.25% and 4.50%.  

Published 22 Jan 2025 09:56 PM

Highlights of the Manappuram Finance share price: Manappuram Finance closed at ₹193.8 today, up 5.64% from ₹183.45 yesterday.

Highlights of the Manappuram Finance share price: Manappuram Finance closed at ₹193.8 today, up 5.64% from ₹183.45 yesterday.

Highlights of the Manappuram Finance Share Price: Manappuram Finance opened at ₹180.75 on the most recent trading day and ended the day marginally lower at ₹179.85. During the session, the stock hit a high of 186.25 and a low of 180.75. At a 52-week high of ₹230.25 and a low of ₹138.40, the firm has a market capitalization of ₹15,505.84 crore. 175,677 shares were traded on the BSE during the day.Lower open interest in Manappuram Finance and a higher futures price indicate that the current positive trend is waning and that the stock may top out here or begin a reversal in the days ahead. Live Updates for Manappuram Finance Share Price: The share price of Manappuram Finance ended the day at ₹193.8, which was 5.64% higher than its previous closing price. Important resistances to keep an eye on for the upcoming trading session are 198.03, 202.56, and 210.12. Key support levels, however, were located at 185.94, 178.38, and 173.85.Manappuram Finance Live Updates: The share price of Manappuram Finance is currently moving between the important support and resistance levels of ₹185.94 and ₹198.03 on a daily basis, with a current price of ₹193.8. We might anticipate another bearish action if it breaks over the ₹185.94 support level. However, there will be a bullish reaction if the price crosses 198.03.  

Published 17 Jan 2025 05:01 PM

Tech View: Thursday trading strategy: Nifty's short-term trend is poor; a breakout above 23,350 could lead to an upside bounce.

Tech View: Thursday trading strategy: Nifty's short-term trend is poor; a breakout above 23,350 could lead to an upside bounce.

The lower tops and bottoms pattern is still there, and the Nifty's short-term trend is still weak. A possible new lower top is in line with the recent pullback, awaiting confirmation. The upside may be strengthened with a clear rise above 23,300–23,350, while 23,050 is a crucial support level. These pivotal levels for market direction are highlighted by HDFC Securities' Nagaraj Shetti.A little red candle was formed on the daily chart of Nifty on Wednesday, with minor upper and lower shadows. This market behavior usually suggests a turbulent movement in the market with a favorable bias. The current retreat may coincide with the pattern's new lower top, and the negative chart pattern, which includes lower tops and bottoms, is still there. However, confirmation of the lower top reversal is required at the highs. The Nifty's short-term trend remains weak. A steady rise above the 23,300–23,350 resistance levels would reinforce the market's upward rebound. According to HDFC Securities' Nagaraj Shetti, 23,050 will be a vital support for the market at the lows. There has been a significant selling of AU SFB from higher levels. There may be indications of a reversal from lower levels as the stock is stabilizing close to important support zones. If the upward trend continues, this consolidation phase suggests that a breakout may occur.The stock is about to break out of this zone of consolidation. It may be able to rise higher, aiming for 650, if AUBANK is able to hold onto its position above 600. Improved technical indications, such as the RSI at 56.07, which is heading upward and showing strength, reinforce this optimistic perspective.AUBANK has recently surpassed its short-term (20-day) and medium-term (50-day) EMAs, further reinforcing the bullish sentiment. If the stock continues to gain strength, it could bounce higher and attempt to retest its long-term (200-day) EMA, suggesting further upward potential.  

Published 15 Jan 2025 08:43 PM

India's bold strategy aids in a quick T20 reconstruction

India's bold strategy aids in a quick T20 reconstruction

The world champions are creating an environment where players perform well without worrying about keeping their spots in the squad or taking wickets.Kolkata: Although it's early, the process and outcomes give hope that India would successfully defend the T20 World Cup at home the following year. Despite the pessimism caused by the Test and ODI transition issues, India's T20 trajectory stands out thanks to series victories against South Africa, Bangladesh, Sri Lanka, Zimbabwe, and now England. Even more so when one considers that Kuldeep Yadav, Shubman Gill, Jasprit Bumrah, Rishabh Pant, and Yashasvi Jaiswal have not been parachuted in.This is most likely a greater accomplishment. However, they have approached it virtually undetected. No culture of stars. Verify. No set order for batting. Verify. Just a group of young, talented, and incredibly self-assured cricket players going about their business without worrying about career curves. By the way, all IPL linchpins.Captain Suryakumar Yadav acknowledges his lack of quality as he is left off the Champions Trophy roster. Abhishek Sharma thinks a ball is there to be struck, hence he doesn't count returns. As long as Tilak Varma is at the crease, the second Twenty20 match in Chennai demonstrated that no equation is too difficult. And the fact that India lost to 12/3 and then 79/5 at Pune on Friday, yet still managed to score 181, demonstrated that the previous game's disaster chasing in Rajkot was really a fluke. The realization that not everything can be managed lies at the core of this long-term upsurge. Earlier this week, Sitanshu Kotak, India's new batting coach, said it. "To achieve a score of 200 or 225, and if you are  

Published 04 Feb 2025 04:28 PM

Rishabh Pant appointed as captain of Lucknow Super Giants for IPL 2025: 'His nicknames would be linked to Rohit Sharma, MS Dhoni'

Rishabh Pant appointed as captain of Lucknow Super Giants for IPL 2025: 'His nicknames would be linked to Rohit Sharma, MS Dhoni'

Rishabh Pant has become oficial captain of Lucknow Super Giants for the IPL 2025.Rishabh Pant, el jugador más caro en la historia de la auction de la Premier League de India, has sido designado como captain de Lucknow Super Giants para el IPL 2025. The proclama fue emitida on Monday. Pant estableció un récord durante el mega auction in November del año pasado, donde LSG co-fundador Sanjiv Goenka obtuvo sus servicios por un monto nunca antes visto de ₹27 crore.Considerando his prestigio e inversión, parecía ineludible que Pant asumiera la responsabilidad de liderar. A pesar de que Pant's IPL 2024 temporada con Delhi Capitals resultó ser decepcionante, clasificándose en la sexta posición, Lucknow Super Giants, que se ubicaron justo por debajo en la séptima, confían en el 27-year-old para guiarlos hacia una temporada de éxito. "Considero que Rishabh Pant va a terminar como uno de los mejores captains de IPL alguna vez." "After 10-12 años, he would be linked to MS Dhoni and Rohit Sharma," declaró Goenka.Rishabh Pant busca un comienzo renovado. Pant asume el cargo de captain de KL Rahul, aportando un renovado sentido de energía y propósito a los Lucknow Super Giants. Determinado a realizar un vigoroso retorno, Pant tiene mucho por demostrar tras superar un periodo difícil. He no participó en muchas acciones, recuperando en 2023 de un accidente de coche que resultó mortal, y batallando en the Border-Gavaskar Trophy, consiguiendo menos de 200 runs en 10 innings con apenas un medio siglo. Naturalmente, Pant would aprovechar la serie de blancos frente a England y la Champions Trophy para recuperar su forma antes del inicio de la IPL.  

Published 20 Jan 2025 09:17 PM

The Gujarat Titans begin their IPL 2025 preparations.

The Gujarat Titans begin their IPL 2025 preparations.

Anuj Rawat, Ishant Sharma, Jayant Yadav, Kumar Kushagra, Mahipal Lomror, and Arshad Khan are among the players who have joined the team in the camp.According to a statement from the team, the Gujarat Titans kicked up their training camp in Surat on Monday in anticipation of the Indian Premier League (IPL) 2025.Along with the coaches and support personnel, a number of players have joined the team in the camp, including Anuj Rawat, Ishant Sharma, Jayant Yadav, Kumar Kushagra, Mahipal Lomror, and Arshad Khan.In last year's massive auction in Jeddah, Saudi Arabia, the 2022 Champions assembled a formidable 25-man team by acquiring top players like England's Jos Buttler, South Africa's Kagiso Rabada, Mohammed Siraj, one of India's top fast bowlers, and all-rounder Washington Sundar.The Gujarat Titans kept Shahrukh Khan, Sai Sudharsan, Rahul Tewatia, Rashid Khan, and Shubman Gill. The 18th season of the Indian Premier League (IPL) 2025 will start on March 23, according to confirmation earlier Sunday by Rajeev Shukla, vice president of the Board of Control for Cricket in India (BCCI). Speaking to media at the Special General Meeting (SGM) in Mumbai, Rajeev Shukla disclosed the IPL 2025 date, stating, "IPL is going to start from March 23." The big auction, which took place in Jeddah on November 24 and 25, has already allowed all ten franchisees to select the team of their choice. Following the bidding, rumors circulated regarding the potential start date of the lucrative league.  

Published 15 Jan 2025 09:14 PM

BCCI vice-prez Rajeev Shukla says the IPL 2025 will start on March 23. The Champions Trophy squad announcement date has been announced.

BCCI vice-prez Rajeev Shukla says the IPL 2025 will start on March 23. The Champions Trophy squad announcement date has been announced.

Rajeev Shukla said the IPL 2025 starts on March 23 and disclosed the date for India's Champions Trophy team release.Vice-president Rajeev Shukla of the Board of Control for Cricket in India (BCCI) has confirmed that the much-anticipated Indian Premier League (IPL) 2025 would begin on March 23. Shukla disclosed the tournament's start date to the media on Sunday after the BCCI general meeting.Important decisions pertaining to the management of Indian cricket were taken at the BCCI meeting on January 12 in addition to the announcement of the IPL's start date. According to Shukla, Prabhtej Singh Bhatia has been elected as the BCCI treasurer, while Devajit Saikia will take Jay Shah's place as the organization's new secretary. He added that the 2025 Women's Premier League (WPL) venues will be revealed soon, and that the Champions Trophy teams meeting will be held between January 18 and 19. However, there have been differing claims regarding the IPL's start date. According to ESPNCricinfo, the competition will really commence on March 21. According to a BCCI insider cited by PTI, the competition would start on "March 20 or 21."Gautam Gambhir and Indian captain Rohit Sharma attended the review meeting on Saturday in response to India's dismal showing in the Border-Gavaskar Trophy, where the team lost 1-3 to Australia. Another 0–3 clean-sweep loss to New Zealand at home came before the series. "The Border Gavaskar Trophy performance, what went wrong, and the necessary course adjustment were all covered in depth. However, do not anticipate a hasty decision from the new BCCI administration," a source familiar with Board events told PTI under anonymity.  

Published 13 Jan 2025 09:45 PM

Under the Subhadra plan, Majhi gives Rs 900 crore to an additional 18 lakh women.

Under the Subhadra plan, Majhi gives Rs 900 crore to an additional 18 lakh women.

Over 18 lakh women who were beneficiaries of the Subhadra Yojana in the state received Rs 5,000 apiece on Saturday from Odisha Chief Minister Mohan Charan Majhi in the fourth phase of the first installment. At a celebration in the Jajpur district, Majhi distributed approximately Rs 900 crore via the direct benefit transfer (DBT) system, accompanied by Deputy Chief Minister Pravati Parida and Health Minister Mukesh Mahaling.This brings the total number of women who have received Rs 5,000 each under the BJP government's Subhadra Yojana in Odisha to above 98 lakh."Fulfilling the promise, the people's government has provided direct assistance to the beneficiaries through DBT, which has played a significant role in strengthening their financial condition," he stated. According to the chief minister, this plan is helping to create a wealthy Odisha and is realizing the dreams and ambitions of the state's mother power. "I think that through starting small enterprises, all of the beneficiaries may improve their economic standing and empower themselves, which will improve the state's economic standing as well. Mothers' efforts and sacrifices will undoubtedly help the government realize its vision of a "developed Odisha," and the people's government is dedicated to this goal.  

Published 08 Feb 2025 09:52 PM

Drama breaks out when ACB arrives at Kejriwal's house in response to allegations of poaching by AAP MLAs.

Drama breaks out when ACB arrives at Kejriwal's house in response to allegations of poaching by AAP MLAs.

An Anti-Corruption Branch (ACB) team arrived at AAP chief Arvind Kejriwal's home at 5, Ferozeshah Road on Friday, sparking a high-level political drama in the nation's capital.Kejriwal said on Thursday that the BJP tried to entice 16 AAP candidates in an effort to undermine his party before the election results were announced. Delhi held elections for the 70-member Assembly on February 5; the results will be revealed on Saturday following the vote count. A day before to the voting results, Kejriwal accused the BJP of trying to steal AAP candidates, which prompted the ACB to take action. Lieutenant Governor V K Saxena of Delhi ordered an investigation into Kejriwal's claims, which sparked the ACB's visit. But things became ugly when AAP leaders accused the ACB personnel of being influenced by the BJP and forbade them from seeing Kejriwal.  

Published 07 Feb 2025 10:19 PM

Delhi 2025 Election: Will Delhi Be Reclaimed by the BJP? Is it too soon to celebrate the largest shift in decades, according to exit polls?

Delhi 2025 Election: Will Delhi Be Reclaimed by the BJP? Is it too soon to celebrate the largest shift in decades, according to exit polls?

Following a 27-year drought in the capital, exit polls for the 2025 Delhi assembly elections suggest that the Bharatiya Janata Party (BJP) may make a comeback. The BJP is predicted to take the majority of seats in the 70-member Delhi Assembly after Arvind Kejriwal's Aam Aadmi Party (AAP) ruled for ten years. It may even win more than 40 seats. Congress is predicted to stay mostly in power, while the AAP, which is running for a third consecutive term, fears a serious setback.Based on surveys by multiple agencies, the exit polls have consistently shown the BJP to be winning. The AAP is only expected to win 28 seats, while the BJP is expected to win 41 seats, according to NDTV's Poll of Exit Polls. Only one seat is anticipated to be won by the Congress, which is a little improvement from its zero seats in prior elections. With the BJP seeking to regain control of Delhi for the first time in twenty years, this represents a dramatic change.AAP Dismisses Forecasts for the Exit Poll The AAP is still hopeful in spite of the exit poll forecasts. Noting that comparable exit polls had understated its chances in past elections, the party has disputed the predictions. "This is our fourth election... every time exit polls did not show AAP (winning), but Arvind Kejriwal has worked for the people of Delhi," said AAP leader Sushil Gupta. We will establish the government and observe results that favor the AAP. The hope for the AAP is in.  

Published 06 Feb 2025 10:17 PM

Arvind Kejriwal will lose the Delhi election, according to Congresswoman Alka Lamba

Arvind Kejriwal will lose the Delhi election, according to Congresswoman Alka Lamba

Alka Lamba, the Congress contender for the Kalkaji assembly seat, attacked Arvind Kejriwal on Tuesday, claiming that the AAP leader should get ready to go to jail.Lamba predicted that the AAP would lose the Delhi election in an interview with ANI. "Arvind Kejriwal ought to get ready for jail time. The Congress politician stated, "He (Arvind Kejriwal) is losing the election from New Delhi. He went to jail, is currently on bail, and will go back to jail for additional information.Notably, Lamba faces BJP candidate Ramesh Bidhuri and Delhi Chief Minister and APP candidate Atishi in the Kalkaji assembly seat.AAP's Atishi was charged by BJP leader Ramesh Bidhuri of hooliganism, creating untrue rumors, and acting inappropriately against BJP employees. Biduri is running against Congressmen Atishi and Alka Lamba in the Delhi Assembly elections from Kalkaji.Citing an instance in which a resident was stopped and held for two hours, Bidhuri said that Atishi and her staff intimidated BJP employees and imprisoned locals. Bidhuri has lodged a police complaint about Atishi's actions."Atishi ji need to uphold the Constitution and the law. Her scandalous acts that promote false rumors are improper given her constitutional position as Chief Minister. What's wrong with me taking my wife and son to campaign with me if I'm running for office? In the last five years, the AAP has done little, particularly in Kalkaji. I learned that the Chief Minister is driving around Delhi with thirty or forty persons in cars with UP license plates, interacting with everyone.  

Published 04 Feb 2025 04:04 PM

Newsletter

Subscribe our newsletter to stay updated every moment