Second-quarter earnings from Tesla, Alphabet, Microsoft, and Apple might reverse a nearly 6% tech sector loss, $900 billion shed. The S&P 500, down 1.6%, was cushioned by financials. September rate cut expectations, Trump's re-election, and an assassination attempt diverted funds. Philadelphia SE index and Nvidia gains were notably impacted.
US President Joe Biden criticized former President Donald Trump's speech at the Republican National Convention, focusing on Trump's handling of the COVID-19 pandemic, proposed cuts to Social Security and Medicare, economic policies, and immigration plans. Biden, recovering from COVID-19, posted multiple responses on X, highlighting inconsistencies and accusing Trump of lying about his achievements and plans.
Gold prices drop by more than 1% due to a stronger dollar and profit-taking after recent highs. Market uncertainty persists over potential U.S. interest rate cuts. Silver, platinum, and palladium also experience weekly declines amid economic fluctuations.
Indian boardrooms and offices are abuzz these days with ‘progressive’ male members getting creative with their ‘feminine’ analogies – perhaps a bit too creative for comfort.
CrowdStrike's cyber outage impacted banks and airlines, raising the dollar index amid volatility. US economic data, Fed rate cut speculations, and Europe’s steady rates influenced currencies. Yen fluctuated due to BoJ interventions, UK retail sales drop, and Japanese inflation. Bitcoin and Ethereum gained. CME's FedWatch Tool aided market predictions. Analyst Michael Brown commented.
The outage was linked to a single update automatically rolled out to Crowdstrike Falcon, a ubiquitous cyber security tool used primarily by large organisations. This caused Microsoft Windows computers around the world to crash.
A Crowdstrike software glitch caused U.S. stock declines Friday. Dow Jones, Nasdaq, S&P 500 dropped amid high volatility. Nvidia, Philadelphia SE Semiconductor Index fell. Fed targets 2% inflation. Russell 2000 declined. Strong second-quarter earnings; Tesla, Alphabet next week. Eli Lilly, Intuitive Surgical, SLB rose. Travelers, Netflix fell. Negative weekly performance. Volume down, investor anxiety up.
European shares declined due to global uncertainty, including Sino-U.S. tensions, Japanese forex intervention, tech sell-off, and U.S. airlines' communication issues. Asian markets, dollar, oil, gold prices, ECB decision, Chinese data, real estate index, British retail sales, Tokyo intervention, and strong U.S. data affected sentiment. Experts Matt Simpson and Vishnu Varathan provided analysis.
Mumbai and its suburbs experienced heavy rainfall causing waterlogging in some areas, but local trains are running smoothly. India Meteorological Department reported 91 mm rainfall in Mumbai, with predictions of more rain. High tides of 4.24 meters and 3.66 meters are expected. Traffic has been diverted due to waterlogging at Sheetal Cinema, Kale Marg and Aarey routes. Central and Western Railway confirmed normal operations amid ongoing heavy showers in the region.
Asian shares dropped, with the MSCI Asia-Pacific index falling 1.56% and Nikkei seeing significant declines. Tech stocks, oil prices, and gold also dipped amidst Tokyo's intervention, mixed futures for S&P 500 and Nasdaq. ECB held rates, U.S. data, weak Chinese property sector, yuan weakness, and core inflation affected markets. Brent crude at $84.72.
The Enforcement Directorate (ED) arrested Haryana Congress MLA Surender Panwar in an illegal mining-linked money-laundering case. The ED previously raided Panwar's premises and arrested former INLD legislator Dilbag Singh. The case involves illegal mining activities in Yamunanagar and alleged fraud in Haryana's "e-Ravana" scheme.
The way taxes are structured has a significant impact on how both businesses and individuals operate. Tax policies affect decisions about investments, business growth, job opportunities, and the overall performance of the economy.
This facility is set to become a hub of innovation and advanced research, dedicated to driving significant advancements in artificial intelligence (AI), remote sensing, and geospatial analytics.
Tata Play, previously known as Tata Sky, reported a widened loss of Rs 353.9 crore with a 4.32% decline in revenue. Plans for an IPO were delayed due to regulatory issues. The company's financial performance in FY24 shows a challenging year.
Central Railways will conduct a 4-hour mega block on July 20-21, 2024, impacting suburban traffic on Main and Harbour lines. Services terminate at major stations; first local trains resume in the morning. Express trains, including Howrah-CSMT, end at Dadar. The disruption is for Carnac Bunder Girder launch.
AIMIM President Asaduddin Owaisi criticized the Uttar Pradesh government's directive for food shops on the Kanwar Yatra route to display ID cards, calling it reflective of hatred towards Muslims. Opposition leaders, including Kapil Sibal and Brinda Karat, also condemned the move, comparing it to Nazi practices. BJP leaders defended the directive, emphasizing public security and harmony.
As India’s logistics sector braces for the 2024 budget, industry leaders highlight a crucial need to enhance multimodal networks and inland waterways to mitigate escalating costs amid the Red Sea crisis.
Bronze medalists are considered to be significantly happier than those who win the sliver medal in the Olympics, according to the human psychology of sportsmen that works when they achieve top positions. Will this same psychology be seen in Paris Olympics 2024?
L Catterton, backed by LVMH, plans to raise a ₹4,000 crore rupee fund for India under Category-II AIF. In a joint venture with ex-HUL CEO Sanjiv Mehta and other executives, they've applied to SEBI. Targeting banks and high net-worth individuals, the fund aims for investments with a 3.1x realized return record in Asia.
. Critical as the crop is, not much rice crosses borders; most is consumed domestically. Only about 10% of the world’s rice crop trades internationally. By contrast, more than 25% of wheat and 40% of soybean output are traded, respectively.
On Friday, Financial Services Secretary Vivek Joshi conducted a review of the Life Insurance Corporation of India's (LIC) annual performance for the fiscal year 2024. The Ministry's statement highlighted that senior LIC officials attended the meeting, which centered on evaluating the life insurer's accomplishments across various financial metrics and strategizing future directions.
Wipro's June growth met forecasts but missed analysts' expectations. IT services revenue fell 1.2% to $2,625.9M. Despite declines in energy, utilities, technology, and communications, margins and new deal wins were resilient. BFSI grew; September guidance is optimistic, excluding currency fluctuations. Attrition fell, headcount rose first in six quarters; consumer vertical grew.
Ajit Dayal of Quantum Advisors cautions investors about the overflow of froth from small and mid-cap stocks into large caps. Despite optimism about the Indian economy, high share valuations raise concerns. Warning against potential crisis in illiquid and small-cap stocks.
UPSC Chairman Manoj Soni has submitted his resignation and is yet to be accepted, said the Department of Personnel and Training (DoPT).
