Business

$142-million Mercedes-Benz smashes Ferrari’s classic car record: Report

Mercedes-Benz AG just knocked Gruppo Ferrari SpA off the blue-chip car collector throne. A 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé sold for €135 million ($142 million) in a secret auction in Germany on May 5, Mercedes-Benz Chairman Ola Källenius has confirmed. While higher-priced deals may have taken place privately, the sale by the car company…

China cuts borrowing rate more than expected to revive housing sector

China, in a monthly fixing, lowered the five-year loan prime rate (LPR) by 15 basis points to 4.45%, the biggest reduction since China revamped the mechanism in 2019 Topics China | housing sector | China economy Reuters  Last Updated at May 21, 2022 02:26 IST China cut its benchmark reference rate for mortgages by an unexpectedly wide margin on…

‘We are going to die’: Lanka’s PM Wickremesinghe warns of a food shortage

A decision in April last year by Prez Gotabaya to ban all chemical fertilisers drastically cut crop yields and although the govt has reversed the ban, no substantial imports have yet taken place Topics sri lanka | Economic Crisis | Ranil Wickremesinghe Reuters  Last Updated at May 21, 2022 02:19 IST Sri Lanka's prime minister has warned of a…

G7 countries to provide $19.8 billion in aid to crisis-hit Ukraine

Finance chiefs from the Group of Seven leading economies pledged to deliver $19.8 billion of budget aid to Ukraine this year as the country struggles to continue functioning amid destruction wrought by Russia’s invasion. “While also addressing Ukraine’s humanitarian and other material needs, we recognize, in particular, Ukraine’s urgent short-term financing needs,” G-7 finance ministers…

India exported wheat worth $177 million in March, $473 million in April

According to sources, India exported wheat even at a time when about eight nations, including Ukraine, Belarus, Turkey, Egypt, Kazakhstan and Kuwait, had imposed wheat export restrictions Topics India | wheat | Russia Ukraine Conflict Photo: Bloomberg India has exported wheat worth $177 million in March and $473 million in April even after the Russia-Ukraine conflict started in late…

India’s power grid creaks under hybrid work model, extreme heatwave

Indians are cranking up air conditioning as they still work from home, while lights come back on in offices and factories with an end to Covid curbs, upending power demand patterns amid a heatwave Topics Heatwave in India | power supply | Work from home Reuters  |  New Delhi  Last Updated at May 20, 2022 06:51 IST Indians are…

Singapore reports 4,578 new cases of Covid-19, tally at 1,258,691

Singapore reported 4,578 new cases of Covid-19, bringing the total tally to 1,258,691. Among the new cases reported on Thursday, 4,471 were local transmissions and 107 were imported cases, Xinhua news agency reported. Of the local cases, 469 cases were detected through PCR tests and 4,002 through antigen rapid tests, according to statistics released by…

PM Modi to virtually address BJP national office bearers’ meeting today

Prime Minister Narendra Modi will virtually address a meeting of BJP national office bearers on Friday, sources said. The meeting of the national office bearers of the BJP began on Thursday with the meeting of the national general secretaries. Before the meeting, BJP President JP Nadda visited the exhibition based on the life of Kushabhau…

Best of BS Opinion: SC verdict on GST Council, merger wave in media & more

Here is the best of Business Standard’s opinion pieces for Friday: A Supreme Court Bench led by Justice D Y Chandrachud in a judgment on Thursday said the recommendations of the Goods and Services Tax (GST) Council were not binding on the Central and state governments. This has raised concerns and it is being argued…

Mean temperatures, sea levels and carbon emissions at record high

Climate alert: Probability of mean temperatures crossing 1.5 degrees in five years has increased to 50 per cent: World Meteorological Organisation report Topics World Meteorological Organisation | Climate Change | Global Warming Ishaan Gera  |  New Delhi  Last Updated at May 20, 2022 06:10 IST On Wednesday, the State of the Global Climate report 2021, released by the World…
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Fans Say She-Hulk Is a Skinny CGI Disaster

One of Marvel’s most exciting additions to Phase Four (although we have no idea where it’s going) is She-Hulk, who first appeared in 1980’s The Savage She-Hulk #1. Jennifer Walters is a skilled lawyer who became a big green superhero completely by accident. All thanks to her favorite cousin: Bruce Banner.On the day Bruce goes…
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7 Best Memory Foam Pillows of 2022, Tested by Experts

It can be hard to justify spending hundreds—even thousands—of dollars on your sleep setup. When you consider $1,000 or more for a premium mattress alone, plus a decent bed frame, nice sheets, pillows, and pillowcases, it all adds up. But it’s true that most of us spend at least one-third of our lives (ideally) sleeping.…

Researchers find backdoor lurking in WordPress plugin used by schools

UPDATE — If you've used School Management Pro, it's time to check your site, stat. Dan Goodin - May 20, 2022 10:51 pm UTC Researchers said on Friday that they found a malicious backdoor in a WordPress plugin that gave attackers full control of websites that used the package, which is marketed to schools. The…

Sixth child in US dies of unexplained hepatitis as global cases top 600

Enlarge / Liver lesions in patient with chronic active hepatitis C. A sixth child has died in the United States from puzzling liver inflammation—aka hepatitis—and the number of unexplained cases has risen to 180 across 36 states, according to the Centers for Disease Control and Prevention. The latest death was announced in a press briefing…

Analysis of prehistoric feces shows Stonehenge people had parasites

Enlarge / The prehistoric monument of Stonehenge in Wiltshire, UK. A large Neolithic settlement known as Durrington Walls is less than two miles away and is believed to be where the people who built the famous site camped during the main stage of construction. Adam Stanford Nearly two miles away from Stonehenge, there is a…