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U.S. crude oil and gasoline inventories were expected to have fallen last week, a preliminary Reuters poll showed, as the American Petroleum Institute industry group is due to release data later on Tuesday.

Treasuries have been sold off in the past few weeks after strong retail sales and other data underscored the resilience of the U.S. economy. That along with easing inflation has put a lid on fears of a looming recession.

Tesla sparked a price war earlier this year and last week slashed prices of three models in China. It also launched a cheaper version of the Model S sedan and Model X SUV on Aug. 14 as it looks to stoke demand and grab a larger share of the market.

Welspun Enterprises (WEL) has bought a 50.10% stake in engineering, procurement and construction firm Michigan Engineers. The transaction, valued at Rs 137.07 crore will enable WEL to expand its urban water infrastructure business, as well as enter the high-margin, high-growth trenchless technologies field. WEL has an order book of over Rs 6000 crore for the water and wastewater segment, and the sector is likely to benefit from Indian government schemes.

The sale of Future Lifestyle Fashions (FLFL) under the corporate insolvency process has run into a roadblock due to a conflict of interest between promoter Kishore Biyani and the forensic auditor appointed by lenders, people aware of the development said. Dilip Dixit had undertaken an assignment for one of the Biyani-promoted company before FLFL was admitted for corporate insolvency. Dixit is also partner of GD Apte & Co, the firm which the lenders appointed as forensic auditor of FLFL in July 2022.

ARC executives say the trend may pick up pace and is likely to continue for at least two years. "Now with the NARCL in the picture most of the corporate loans will go to them. Incrementally, for the next two years, we should expect most of NPAs to come from the non-corporate segments," said Mythili Balasubramanian, executive director at Edelweiss ARC.

Reliance Retail, the largest investor with 26% stake in Dunzo, is averse to the idea of slashing the valuation of the startup by nearly 50% in a fresh funding deal being stitched together by a set of existing investors.

PNB Housing Finance had announced the successful resolution of its large corporate non-performing account (NPA) account valued at ₹784 crore, which constituted around 1.3% of the loan asset as of June 30, 2023, according to a stock exchange announcement

The structuring of these funds that provide equity upside for the top employees has led to bankers such as Shantanu Sahai and Rakshat Kapoor from Nomura, Deepak Sood of Barclays, and Anuj Kapoor from UBS to take up roles in private credit funds.

The bond issue is likely to have a base size of 500 crore and a greenshoe option of 1,400 crore, sources said. “They will most likely look at August 23 for the bidding,” a source said.