U.S. stock markets plunged in early trading amid growing concerns of a recession, with the S&P 500 falling 4% following its worst week in over three months. The Dow Jones Industrial Average also took a significant hit, dropping 1,197 points or 3%. Meanwhile, the Nasdaq Composite experienced an even sharper decline, plummeting 5.5% and wiping out 15% of its value from last month's record high.
The Supreme Court extended the tenure of the Justice Gita Mittal committee by six months to monitor relief for victims of ethnic violence in Manipur. The committee comprises three former high court judges and was established to provide relief, rehabilitation, and oversee investigations. This extension follows the end of its initial term on July 15.
The BJP is likely to chair seven to eight Lok Sabha parliamentary committees, with Congress and Samajwadi Party getting three and one respectively. Speaker Om Birla will ensure fair representation in these 16 panels, which oversee various ministries' functioning. The higher opposition strength will also be visible in these committees.
The US two-year yield dropping below the 10-year yield for the first time since July 2022 has raised recession concerns. Traders anticipate the Federal Reserve's monetary policy easing due to economic slowdown fears and poor job data. This shift suggests significant worries about the pace of economic growth.
U.S. Treasury yields tumbled on Monday as traders moved to price in big rate cuts from the Federal Reserve, after weak jobs data stoked worries that the U.S. economy could be heading for a recession.
India has halted all train services to Bangladesh amid escalating tensions and the imposition of military rule there. Services, which had been declining since mid-July, are now fully suspended. An Indian passenger train is stranded in Bangladesh, and eight Indian freight trains loaded with goods, primarily food grains, are awaiting clearance.
Indian government bond yields dipped on Monday as traders wagered the Federal Reserve will need to be aggressive in cutting interest rates after weak jobs data stoked worries over the U.S. economy.
The Goldman Sachs experts have expressed hope that the jobs market will improve this month and it may encourage the Fed Reserve to cut bank interest rates by 25 basis points, or 0.25% percentage points.
Auto components maker Motherson Sumi Wiring India Ltd on Monday reported 21 per cent increase in net profit at Rs 148.87 crore for June quarter FY25 riding on strong revenue growth. The company had logged a net profit of Rs 123.13 crore in the same quarter last fiscal, Motherson Sumi Wiring India Ltd (MSWIL) said in a regulatory filing.
India's Adani Energy Solutions raised $1 billion through a share sale, which got bids from U.S. investors and sovereign wealth funds, the power distribution company said on Monday.
The initial public offering of Ola Electric was fully subscribed on the second day. This and more in today’s ETtech Top 5.
Honeywell Automation India on Monday reported a 32.01 per cent rise in its standalone net profit to Rs 136.5 crore for the June-ended quarter. It had posted a net profit of Rs 103.4 crore in the year-ago period.
An e-auction of 250 gifts received by President Droupadi Murmu and former presidents began on Monday. Key items include a shell craft painting of Netaji Subhas Chandra Bose and a statue of Lord Buddha. The auction runs until August 26, with proceeds supporting children in need.
The Paris Olympics is now in a different phase altogether with heightened excitement and contest as China, US, Great Britain, Japan and others, battling it out to rise or consolidate their positions in the overall medals tally. Amid this, the men's 1500 meters race is going to be one of the legendary races to watch during this Olympics and there are certain reasons as to why, starting with the tough journey ahead for Cole Hocker.
Gold prices rose by Rs 250 to Rs 72,800 per 10 grams in the local market here on Monday amid increased demand from jewellers. The precious metal settled lower at Rs 72,550 per 10 grams in the previous session on Saturday.
Maratha quota campaigner Manoj Jarange revealed he has data on possible candidates for the Maharashtra assembly elections, urging for Kunbi certificates to qualify for OBC reservations. Community leaders will meet on August 29 to decide on candidates. Jarange stressed non-political aims but warned of involvement if the state fails to address quota issues.
A prayer of all religions was also conducted before the burial ceremony. The event started at around 3 pm. Speaking with ANI, on missing bodies and body parts of the landslide victims, Kerala Minister K N Balagopal said, "We cannot give an exact number of missing body parts... There is a mass burial going on for unidentified bodies."
ED alleges that the two accused, who were bureaucrats serving during the Congress rule in the state, tampered with evidence to weaken the case built against them. Shukla was granted an anticipatory bail by the Chattisgarh High Court on October 16, 2019. ED's claim suggests that Tuteja was in touch with the judge through former AG Satish Changra Verma between July 31 and August 11 of 2019, according to WhatsApp messages.
Raj Thackeray revealed candidates for two Maharashtra assembly seats, with Bala Nandgaonkar running from Shivadi and Dilip Dhotre from Pandharpur. Thackeray also met CM Eknath Shinde to address housing concerns. MNS aims to contest 200 to 250 seats independently. Maharashtra's Legislative Assembly elections are set for later this year.
GCCs in India leased 53 million sq. ft. of office space from 2022 to H1 2024, driven by India's talented workforce and cost benefits. They accounted for 37% of office leasing in H1 2024, with significant contributions from BFSI and technology firms. Bengaluru, Pune, and Hyderabad were key cities for this growth.
Long unwinding involves selling positions or stocks that have been held for a longer period, either to realize profits or to exit in anticipation of a potential downturn. During Monday's trading session, five stocks experienced long unwinding.
Bangladesh Prime Minister Sheikh Hasina landed at Hindon Air Base in a C-130 transport aircraft amid the escalating crisis in her country. Security agencies tracked the aircraft from its entry into Indian airspace. The Hindon Airport, near Delhi, handles domestic flights and has facilities to serve 300 passengers per hour.
