US dollar drifts lower, market consolidates gains post-inflation data

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The dollar slipped on Wednesday, a day after rising on hotter-than-expected U.S. inflation data, as investors consolidated gains ahead of this week’s economic data that could shed light on when the Federal Reserve might start cutting interest rates this year. In afternoon trading, the dollar index, which measures the…

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India’s Reliance to buy Paramount’s stake in Viacom18

(Reuters) -India’s Reliance Industries has agreed to buy Paramount Global’s entire 13.01% stake in local entertainment network Viacom 18 Media for about $517 million (42.86 billion Indian rupees), the U.S. company said in a regulatory filing. Viacom18 is majority-owned by Reliance and has 40 television channels, including Comedy Central, Nickelodeon and MTV. Paramount said it…

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