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India to offer $455 million in incentives for battery storage projects -sources

By Sarita Chaganti Singh NEW DELHI (Reuters) -India will offer 37.6 billion rupees ($455.2 million) in incentives to companies setting up battery storage projects totaling 4,000 megawatt hours (MWh) under a scheme announced earlier this year, two government sources said. The scheme, details of which were not previously known, is intended to boost battery storage …

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South Africa dodges first quarter recession, but outlook grim

By Kopano Gumbi PRETORIA (Reuters) -South Africa narrowly avoided a recession in the first quarter, data showed on Tuesday, but economists and analysts warned that the country faced major growth-crippling challenges for the remainder of the year. Africa’s most industrialised economy is in its worst power crisis on record with up to 10 hours a …

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Analysis-Can Biden’s compromise strategy fix a divided US?

By Trevor Hunnicutt WASHINGTON (Reuters) – The deal to end the United States’ debt limit standoff was classic Joe Biden politics: eke out a narrow compromise from an ugly beginning and declare victory. Biden’s pact with Republican Kevin McCarthy suspends the $31.4 trillion U.S. debt ceiling, avoiding an economic crisis, in exchange for setting spending …

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Villagers flee floods as huge Kakhovka dam destroyed in Ukraine war zone

By Viktoriia Lakezina KHERSON, Ukraine (Reuters) -A torrent of water burst through a massive dam on the Dnipro River that separates Russian and Ukrainian forces in southern Ukraine on Tuesday, flooding a swathe of the war zone and forcing villagers to flee. Ukraine accused Russia of blowing up the Nova Kakhovka dam in a deliberate …

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Greenback gains, Aussie jumps on RBA rate hike

By Karen Brettell NEW YORK (Reuters) – The U.S. dollar gained against the euro and yen on Tuesday as investors focused on the likelihood that the Federal Reserve will continue hiking rates, while the Aussie jumped after the Reserve Bank of Australia (RBA) surprised with a rate increase. Fed officials are in a blackout period …

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Stocks in limbo as Aussie hike provides rates reminder

By Nell Mackenzie and Marc Jones LONDON (Reuters) – Major stock markets were stuck in limbo on Tuesday as a surprise interest rate hike in Australia gave investors a reminder that the fight against high inflation rages on and global borrowing costs are yet to max out. Wall Street, where the S&P 500 touched a …

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Indian shares close flat in run-up to RBI, Fed meets

By Bharath Rajeswaran BENGALURU (Reuters) – Indian shares closed little-changed on Tuesday, with a rise in autos and realty balancing out a fall in information technology stocks ahead of a widely expected rate hike pause by the U.S. Federal Reserve, as well as the Reserve Bank of India this week. The blue-chip Nifty 50 index …

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Hollywood actors authorize strike as writers still out

By Lisa Richwine LOS ANGELES (Reuters) -Hollywood’s actors union voted to authorize a strike if contract talks break down, turning up the heat on major film and television studios already grappling with a monthlong work stoppage by writers. After voting closed on Monday, SAG-AFTRA said 97.91% of ballots cast supported a strike authorization. Nearly 65,000 …

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Gold holds ground on softer dollar, rate-hike pause bets

By Arundhati Sarkar (Reuters) – Gold prices steadied in a tight range on Tuesday as optimism that the U.S. central bank will not hike interest rates this month kept the dollar under pressure. Spot gold held its ground at $1,960.89 per ounce by 0239 GMT. U.S. gold futures edged 0.1% higher to $1,976.80. The dollar …

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Dell Australia found guilty of misleading customers on monitor prices, discounts

(Reuters) – Dell Technologies Inc’s Australian unit has been found guilty by the country’s Federal Court to have misled customers about the prices or discounts on its add-on monitors on its website, Australia’s competition regulator said on Tuesday. When customers chose to buy a personal computer, Dell Australia gave them an option to bundle a …

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