Live: Brooklyn subway shooting suspect arrested after manhunt, say reports

Live news updates: Of the 29 people who were hospitalized in connection with the subway shooting, 10 remain hospitalized: CNN.com.

Live news updates: Police on Wednesday arrested a man they said opened fire on a Brooklyn subway train during morning rush hour, ending a daylong manhunt after the attack left more than two dozen people injured, the Associated Press reported. 

Frank R James, 62, was arrested Wednesday, CNN and the Associated Press reported. Police said James was the suspect in the shooting after first calling him a "person of interest" and seeking help from the public to determine his whereabouts.

10:52 PM

IMF, World Bank, WFP, WTO urge coordinated action on food security

The World Bank, International Monetary Fund, UN World Food Program and World Trade Organization on Wednesday called for urgent, coordinated action on food security, and appealed to countries to avoid banning food or fertilizer exports, Reuters reported. In a joint statement, the leaders of the four institutions warned that the war in Ukraine was adding to existing pressures from the Covid-19 crisis, climate change and increased fragility and conflict, threatening millions of people worldwide.

 

10:28 PM

JPMorgan CEO downbeat on economy, growth

JPMorgan Chase & Co's Chief Executive Jamie Dimon warned of economic uncertainties arising from Russia's invasion of Ukraine and soaring inflation, after first-quarter profits at the largest U.S. bank slumped 42%. JPMorgan had reported record profit during the first quarter last year, benefiting from a dealmaking boom after the Federal Reserve pumped liquidity into capital markets to mitigate the economic impact of the Covid-19 pandemic.

10:14 PM

78 out of 300 top listed firms disclosed net-zero carbon emission goals: Report

Of India’s top 300 listed companies, 78 disclosed their commitment to achieve net-zero carbon emission under their ESG provisions in the last three financial years, a report said on Wednesday. The report by Care Advisory Research and Training covered the corporate sustainability disclosures of these 300 companies across 11 key sectors. These companies have a combined market capitalisation of Rs 221 lakh crore or 90 per cent of the market cap of the top 1,000 listed firms, PTI reported.

9:55 PM

Hindu leader arrested for Sitapur hate speech

Police in Uttar Pradesh Police on Wednesday arrested a Hindu leader, days after he allegedly made a hate speech against Muslims and issued rape threats" in Sitapur. Bajrang Muni Das allegedly threatened Muslims on April 2.

9:37 PM

S&P cuts Sri Lanka rating on 'virtual certainty' of default

Sri Lanka was downgraded deeper into junk by S&P Global Ratings, which said the nation’s decision to suspend payments on its foreign debt has left a “virtual certainty of a default.” The country’s long-term foreign currency credit rating was cut to CC, the third-lowest level, from CCC by S&P on Wednesday, Bloomberg reported. 

8:54 PM

Yellen says global growth will take a hit from Ukraine war

Global economic growth will take a hit from Russia's war in Ukraine, US Treasury Secretary Janet Yellen said on Wednesday, noting that it had sent prices for food, energy and some metals sharply higher, fueling existing inflationary pressures. "It is likely to be a hit to global growth," Yellen told an event in Washington, adding that she "worried more about recession prospects" in Europe, which was most vulnerable to disruptions in energy supplies from Russia.

8:25 PM

Delhi logs 50% increase in daily Covid-19 cases

Delhi on Wednesday reported 299 new cases of Covid-19: a 50 per cent increase in 24 hours. There were no deaths due to the disease in 24 hours, said the state’s government.

7:59 PM

S&P downgrades Sri Lanka's foreign currency rating

S&P Global Ratings on Wednesday lowered Sri Lanka's foreign currency rating to "CC" from "CCC", citing the economic crisis in the country and rising external funding pressures. "Sri Lanka's debt restructuring process is likely to be complicated and may take months to complete", the ratings agency said in a statement

7:55 PM

ED gives 4 more weeks to give court report on AirAsia probe

The Delhi High Court Wednesday gave the Enforcement Directorate (ED) more time to file a report on its investigation in a money laundering case lodged against some officials of AirAsia India whose flying licence has been challenged by BJP leader Subramanian Swamy. The court gave four weeks to the investigating agency to comply with its January 2020 order on Swamy's petition challenging the flying licence and Foreign Investment Promotion Board (FIPB) clearance granted to AirAsia, PTI reported.

7:20 PM

Roman Abramovich has $7 bn of assets frozen in tax haven

More than $7 billion of assets linked to Roman Abramovich were frozen by authorities in the English Channel tax haven of Jersey, in the latest crackdown on offshore wealth held by sanctioned Russian billionaires. The Jersey Royal Court imposed a freezing order on the assets, the local government said in a statement Wednesday. At the same time, police executed a search warrant on premises “suspected to be connected” to him, Bloomberg reported.

7:00 PM

Sebi to auction properties of three firms to recover investors' money

India’s markets regulator said on Wednesday it will auction 15 properties of Sun Plant Agro, Sun Plant Business and Remac Realty on May 11 to recover money illegally raised from the public. The auction will be based on reserve prices ranging from Rs 19 lakh to Rs 1.7 crore, said the Securities Exchange Board of India.

6:52 PM

1,000 Ukraine marines surrender, says Russia

More than 1,000 Ukrainian marines have surrendered in the port of Mariupol, Russia's defence ministry said on Wednesday of its main strategic target in the eastern Donbas region, Reuters reported. If the Russians take the Azovstal industrial district, where the marines have been holed up, they would be in full control of Mariupol, Ukraine's main Sea of Azov port, allowing Russia to reinforce a land corridor between separatist-held eastern areas and the Crimea region that it seized and annexed in 2014.

6:46 PM

Amazon warns Future Retail against holding meeting on assets sale to Reliance

Amazon has warned Future Retail Ltd (FRL) against holding meetings of its shareholders and creditors next week to approve the sale of its retail assets to Reliance Retail. In a letter to Kishore Biyani and other promoters on April 12, the US e-commerce giant said such meetings are illegal and would not only breach 2019 agreements when Amazon made investments into FRL's promoter firm.

 

6:19 PM

JPMorgan profits drop 42%, bank writes off Russian assets

JPMorgan Chase said its first quarter profits dropped by 42 per cent from last year, partly because the bank wrote down nearly $1.5 billion in assets due to higher inflation and the Russian-Ukrainian War. USA's largest bank by assets said it earned a profit of $8.3 billion or $2.63 per share, down from a profit of $14.3 billion or $4.50 a share, in the same period a year earlier.

6:00 PM

Infosys says has no plans to do business with Russian clients

Software giant Infosys said on Wednesday it is moving its business out of Russia and is pursuing alternate options against the backdrop of the Ukraine conflict. The company has no plans to do business with Russian clients, a company executive said. Several other global IT and software players including Oracle Corp and SAP SE have either suspended or paused all operations in Russia, Reuters reported.