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Rains in Assam to hit North Indian tea output

The tea market in North India, which is already reeling less than output losses over the previous 3 months (March-Might), is possible to be more impacted owing to incessant rains and flood in a lot of components of Assam — a single of the key tea increasing areas.

According to Vivek Goenka, Chairman, Indian Tea Association (ITA), tea output in Assam is estimated to be decreased by 8-ten per cent at near to sixty five million kg (mkg) in June this year as in contrast to seventy five mkg exact same period previous year. Assam accounted for practically sixty per

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BP Faces $17.5B Q2 Hit

BP is producing down $17.5 billion in belongings in the second quarter and forecasting reduce oil charges.

The oil enterprise said Monday that it has revised its extensive-term selling price predictions and is decreasing them and extending the period of time lined to 2050.

“These actions will direct to non-hard cash impairment costs and generate-offs in the second quarter, approximated to be in an combination vary of $13 billion to $17.5 billion write-up-tax,” BP said in a push launch.

The enterprise has revised extensive-term selling price estimates. For Brent oil, the enterprise estimates an regular of all over $55 for

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Investors shake off virus impact as shares hit new highs

three) The failure to electrify hundreds of miles of railway threatens Boris Johnson’s guarantee to make Britain the cleanest state on earth, market leaders have warned. Rail chiefs have prepared to Transportation Secretary Grant Shapps urging him to push on with electrification so that the market can cut out carbon emissions by 2040.

4) Beales to shut remaining 11 section suppliers: The firm manufactured a further more 20 workers redundant at its head business office in Bournemouth with hundreds of careers at chance.

5) Donald Trump has pardoned financier and philanthropist Michael Milken, the facial area of economical scandals in

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AmEx Takes Profit Hit, Plans Spending Cuts

American Specific took a key, coronavirus-linked strike to quarterly revenue as the credit score card huge established apart $1.7 billion to protect doable card holder delinquencies.

AmEx’s web money for the to start with quarter fell seventy six% to $367 million, or 41 cents for every share, from $1.fifty five billion, or $1.eighty for every share, while consolidated provisions for losses rose to $two.six billion from $809 million.

“The to start with two months of 2020 ongoing the robust momentum we have delivered in excess of the previous two years, but we’re now in a distinctive environment,” CEO Stephen Squeri

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Covid fears hit demand for livestock feed, crashed prices: Anmol Feeds

The Indian livestock feed market, which is majorly dependent on the demand from poultry business, is headed for fairly tricky periods for atleast the following three months, as demand stays lukewarm and very poor liquidity is very likely to affect farmers’ capacity to fulfil payment obligations.

According to Amit Saraogi, Taking care of Director, Anmol Feeds, the domestic livestock feed market, which includes cattle, poultry and fish feed among some others, is believed to be shut to ₹2.five lakh crore. Poultry accounts for almost thirty-35 per cent (roughly ₹87,five hundred crore) of the complete animal feed market in India.

“Poultry

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