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☆ Rescuers drill to send more food to trapped workers in Indian tunnel
▼ + stars: | 2023-11-20 | by ( Saurabh Sharma | ) www.reuters.com time to read: +2 min

[1/3] Rescuers move machines past a tunnel where workers are trapped after a portion of the tunnel collapsed in Uttarkashi in the northern state of Uttarakhand, India, November 19, 2023. REUTERS/Saurabh Sharma Acquire Licensing RightsSILKYARA, India, Nov 20 (Reuters) - Rescuers are trying to send cooked food and set up a phone connection to 41 workers trapped for eight days in a collapsed tunnel in the Indian Himalayas as they explore fresh rescue plans after previous attempts stalled, officials said on Monday. The men have been stuck in the highway tunnel in Uttarakhand state since it caved in early on Nov. 12 and are safe, authorities said. They have access to light and supplies of oxygen, dry food, water and medicines are being sent via a pipe. "Our priority is to save 41 lives who are trapped inside the tunnel.

Persons: Saurabh Sharma, Bhaskar Khulbe, Nitin Gadkari, Gadkari, R.C.S, Panwar, Jasvant Kapoor, Shivam Patel, Raju Gopalakrishnan Organizations: REUTERS, Transport, Authorities, Thomson Locations: Uttarkashi, Uttarakhand, India

☆ India minister to propose higher diesel vehicle tax, warns automakers
▼ + stars: | 2023-09-12 | by ( Aditi Shah | ) www.reuters.com time to read: +2 min

A worker switches on a fuel pump before filling a car with diesel at a fuel station in New Delhi September 13, 2012. REUTERS/Mansi Thapliyal/File photo Acquire Licensing RightsNEW DELHI, Sept 12 (Reuters) - India's road transport minister, Nitin Gadkari, on Tuesday said he will propose an additional 10% tax on diesel vehicles and warned automakers of even higher levies to cripple their ability to sell such high-polluting vehicles. Gadkari said he will later in the day ask the finance minister for an "additional 10%" goods and services tax on diesel vehicles to tackle problems related to pollution. The Indian government currently imposes a 28% tax on diesel cars and an additional so-called "cess" is levied depending on the vehicles' engine capacity. Shares in Indian automakers Tata Motors, Mahindra and Mahindra, Ashok Leyland (ASOK.NS), and Eicher Motors (EICH.NS) fell between 1.5% and 4.5%.

Persons: Mansi, Nitin Gadkari, Gadkari, Maruti Suzuki, Ashok Leyland, Aditi Shah, Tanvi Mehta, Christian Schmollinger, Tom Hogue Organizations: REUTERS, New, Tata Motors, Mahindra, Maruti, Volkswagen, automakers Tata Motors, Eicher Motors, Thomson Locations: New Delhi, DELHI, India

Petrol vehicles have been the top sellers in recent years - increasing their market share to around 68.4% in January-July 2023 from 42.5% in 2014, according to data from automotive market intelligence provider JATO Dynamics. Cost-conscious Indians are preferring to buy petrol cars as they are cheaper than diesel, even though diesel cars offer better fuel efficiency. DIESEL VEHICLES:Tuesday's warning from minister Nitin Gadkari targeted diesel carmakers, whose market share has seen a steady decline to nearly 18% of passenger vehicles in January-July this year from 47.9% in 2014. But when it comes to luxury cars, diesel variants remain in vogue, with their market share rising to 33% so far this year from 31% in 2021. Among automakers, Mahindra and Mahindra (MAHM.NS) has the highest diesel car market share with 47% of unit sales so far this year, up from 28% in 2021.

Persons: Maruti Suzuki, Nitin, Tesla, Aditi Shah, Aditya Kalra, Mark Potter Organizations: Maruti, Tata Motors, Volkswagen, Society of Indian Automobile Manufacturers, JATO Dynamics, Mercedes, BMW, Audi, Mahindra, Hyundai, Kia, Thomson Locations: MUMBAI, China, United States, India

☆ Exclusive: Bank of America promotes Bettamio to co-head of investment banking; Ahmad to co-head capital markets
▼ + stars: | 2023-06-08 | by ( Lananh Nguyen | Thomson Reuters | Lananh Nguyen Is The U.S. Finance Editor At Reuters In New York | ) www.reuters.com time to read: +1 min

NEW YORK, June 8 (Reuters) - Bank of America Corp (BAC.N) promoted the head of its Latin America business, Alex Bettamio, to co-head of global investment banking alongside Thomas Sheehan, according to a memo seen by Reuters on Thursday. It also elevated Faiz Ahmad to jointly lead global capital markets with Sarang Gadkari. Bank of America's investment-banking revenue rose 19% to $6.2 billion in the first quarter, its second-best quarter for revenue, even as investment banking fees sank 20%. Jin Su will become the bank's sole president for the Asia Pacific region when Seguchi retires. Peter Guenthardt will lead global corporate investment banking in the region.

Persons: Alex Bettamio, Thomas Sheehan, Faiz Ahmad, Sarang Gadkari, Ahmad, Bilgi Zapparoli, Bernie Mensah, BofA's, Mark Monaco, Augusto Urmeneta, Jiro Seguchi, Jin Su, Seguchi, Peter Guenthardt, Lananh Nguyen, Lisa Shumaker Organizations: YORK, Bank of America Corp, Reuters, Sarang, Global Transaction Services, Bank of, GTS, Asia, Thomson Locations: America, U.S, Asia Pacific

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