Reuters

By Sai Ishwarbharath B

BENGALURU (Reuters) - Mid-tier firms in India's $254 billion information technology sector took market share from industry goliaths in recent quarters as clients curtailed discretionary spending amid inflationary pressures and economic uncertainty, analysts said.

Unlike their larger rivals such as Tata Consultancy Services and Infosys, mid-tier IT firms tend to focus on short-term deals aimed at helping clients cut... (continue reading...)

MOSCOW (Reuters) - Russia's defence ministry has proposed a revision to the borders of Russian territorial waters in the Baltic Sea, according to a draft government decree, drawing a rebuke from NATO-member Finland.

According to the draft decree, dated May 21, the ministry proposed adjusting the border around Russian islands in the eastern part of the Gulf of Finland and around Kaliningrad.

"The passage of the state border of the Russian... (continue reading...)

OSLO (Reuters) - Norway will recognise a Palestinian state, Prime Minister Jonas Gahr Stoere said on Wednesday, confirming earlier reports.

(Reporting by Nerijus Adomaitis and Gwladys Fouche in Oslo, editing by Stine Jacobsen)

By Sarah Wu

BEIJING/SHANGHAI (Reuters) - Shares in Chinese electric vehicle maker Xpeng jumped on Wednesday driven by revenue growth from research and development services offered to Volkswagen as well as upbeat comments about its goals for gains in self-driving tech.

Xpeng, which deepened its partnership with VW in April to co-develop EV architecture, said that those R&D services were primarily responsible for its revenue from services... (continue reading...)

LONDON (Reuters) - Britain's banking and financial regulators said on Wednesday they had fined U.S. bank Citigroup more than 61.6 million pounds ($78.54 million) for failures in its trading systems and controls.

The fine is one of the largest for controls breaches in the UK since the global financial crisis in 2008-2009.

The Prudential Regulation Authority said it fined Citigroup Global Markets Limited 33.88 million pounds for failings in... (continue reading...)