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BPCL turns ₹10,642-cr. net as fuel sales improve

Walmart blames fraudster for racist emails sent to customers

A fraudster created false Walmart accounts to send emails with a racist slur to customers, the company said.

The perpetrator found other people’s email addresses and signed them up for a Walmart account. The company sent an auto-generated “Welcome to Walmart” email, but the email replaced the person’s actual name with the slur.

It’s not clear how many people received the email, but dozens complained about the “very disturbing email” on Twitter.

Walmart spokeswoman Molly Blakeman said in an email that the perpetrator “created false Walmart accounts with obvious intent to offend our customers.”

“We were shocked and appalled to see these offensive and unacceptable emails,” she said. “We’re looking into our sign up process to ensure something like this doesn’t happen again. We’re also looking into all available means to hold those responsible accountable.”

There’s no evidence of any internal hacking at Walmart, and all falsely created accounts were shut down on Tuesday. 

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Biden and Putin to meet in Switzerland in mid-June with US-Russia tensions at a historic high

  • Biden and Putin are set to meet in Switzerland on June 16. 
  • US-Russia relations are at their lowest point in decades. 
  • In April, Biden proposed holding a summit with Putin to discuss issues fueling the tensions.
  • See more stories on Insider’s business page.

President Joe Biden and Russian President Vladimir Putin are officially scheduled to meet in Geneva, Switzerland, on June 16, the White House announced Tuesday. 

The two world leaders will “discuss the full range of pressing issues, as we seek to restore predictability and stability to the U.S.-Russia relationship,” according to a statement.

The meeting will come during Biden’s first trip abroad as president, and with US-Russia tensions at the highest level seen since the Cold War. 

The contentious dynamic has been driven by an array of factors, including Putin’s unilateral annexation of Crimea in 2014, the ongoing war in eastern Ukraine involving Kremlin-backed rebels, Russian interference in US elections, the SolarWinds hack, and the poisoning and imprisonment of Russian opposition leader Alexei Navalny.

With the US and Russia increasingly at odds over a range of major geopolitical issues, Biden in mid-April proposed holding a summit with Putin in a third country. The offer came as Russia built up a massive number of troops along Ukraine’s borders, sparking fears of a potential invasion.

This is a breaking news story. Check back for updates.  

European Economics Preview: Germany Ifo Business Confidence Data Due

Business confidence and revised GDP from Germany are due on Tuesday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany’s revised GDP data for the first quarter. According to preliminary estimate, gross domestic product fell 1.7 percent sequentially, in contrast to the 0.5 percent growth seen in the fourth quarter.

Also, April public sector finance data is due from the UK.

At 3.00 am ET, Spain’s producer price data is due. In the meantime, industrial production from Austria and manufacturing sentiment from Turkey are due.

Half an hour later, Statistics Sweden is slated to release producer prices for April.

At 4.00 am ET, Germany’s ifo business confidence survey data is due. Economists forecast the business confidence index to rise to 98.2 in May from 96.8 in April.

At 6.00 am ET, the Confederation of British Industry is set to issue UK Distributive Trades survey results for May. The retail sales balance is seen rising to 30 percent in May from 20 percent in April.

At 8.00 am ET, Hungary’s central bank announces its interest rate decision. The bank is seen holding the rate at 0.60 percent.

Streaker at Nationals-Reds game finds creative place to hide during rain delay: tarp roller

During an extended rain delay Wednesday at Nationals Park, a streaker made himself at home … in an unlikely place.

After the grounds crew had rolled out the tarp to cover the infield diamond during a Nationals-Reds game that was suspended, a streaker ran on the field and onto the infield tarp and slid head first toward the large tarp roller and hid inside.

The tarp roller resembles a large tube or tunnel and the streaker crawled in, where he remained for several moments before he came out and was arrested. 

BPCL turns ₹10,642-cr. net as fuel sales improve

Board declares ₹58 as final dividend

Bharat Petroleum Corporation Ltd. (BPCL) reported fourth-quarter consolidated net profit stood at ₹10,641.9 crore following a sharp recovery in business during the last quarter.

The firm had recorded a net loss of ₹1,819.7 crore in the year-earlier period.

Revenue increased almost 22% to ₹99,733.2 crore.

For FY21, the company posted an almost fivefold rise in consolidated net profit to ₹17,319.83 crore. Revenue decreased almost 8% to ₹3,04,266.3 crore.

Gross refining margins (GRMs) for FY21 stood at $4.06 per barrel and for January-March, it was $6.64 per barrel. The board declared a final dividend of ₹58 per equity share, including a one-time special dividend of ₹35 per share.

“We witnessed a V-shape recovery in the second half of the financial year resulting in a robust growth in fuel sales,” said N. Vijayagopal, director (finance).

“In an unprecedented year that began with a lockdown across the country and subdued business activities, the fourth quarter was a stand-out quarter that helped the company to report its highest ever growth in bottom-line,” he added. Our market sales of HSD (high speed diesel) grew by 5.98% and MS (motor spirit) by 9.89%. Our debt has come down to a normal level of ₹26,000 crore.”