Beyond Financial News

Foxconn on Wednesday reported a six percent jump in net profit for the second quarter of the year, driven by strong growth in demand for artificial intelligence servers. Also known by its official name Hon Hai Precision Industry, the firm is the world's largest contract electronics manufacturer and assembles devices for major tech companies, most notably Apple's iPhones. It said Wednesday that net profit for April-June rose to NT$35.05 billion (US$1.08 billion) from NT$33 billion the same period last year.

fleeing invading Ukrainian troops sought shelter from strangers. Russian parents feared that their children might be sent into battle for the first time. And in a televised crisis meeting Monday, President Vladimir Putin of Russia flipped through a white legal pad, reading aloud from handwritten notes, suggesting that his aides did not have the time to type up a speech for him as they usually do. Ukraine's surprise incursion into a sliver of Russia's Kursk region last week has not shifted the overall course of the war, but it has already struck a blow well beyond the few hundred square miles of Russia that Ukraine now controls: It has thrust a Russian government and society that had largely adapted to war into a new phase of improvisation and uncertainty.

regulator has selected six projects, including one by e-commerce giant Amazon, to test the use of drones in deliveries, inspection of infrastructure and emergency services, it said on Thursday. The UK's Civil Aviation Authority (CAA) had said earlier this year that it wanted to permit more drone flying for such uses. Currently drone users in Britain are only permitted to fly beyond the visual line of sight as part of trials with strict restrictions.

US stock market, chipmaker Nvidia gained over 6% Tuesday. As the market improved considerably after tanking, Nvidia shares soared and closed at $116.14. The price of the chipmaker stock has doubled in value since the beginning of the year. According to 'Invesopedia', Nvidia will report its earnings for the quarter on August 28. The market analyst and share market strategists expect an earnings-fueled post-market move could potentially mark «the technical low for the largest index weights and AI darlings,» ahead of a September rally.

CCI on Wednesday approved the US-based Hewlett Packard Enterprise Company's proposal to acquire Juniper Networks, Inc. HPE specialises in business information technology, offering infrastructure products to support the IT systems of customers, related software to automate and simplify IT operations, and cloud solutions as a service. «The proposed combination pertains to the acquisition by Hewlett Packard Enterprise Company (HPE) of 100 per cent of the outstanding shares of, and sole control over, Juniper Networks, Inc. »The proposed combination is to be carried out by way of a reverse triangular merger through which Jasmine Acquisition Sub, Inc. (a wholly-owned subsidiary of HPE) will merge with and into Juniper, such that Juniper will be the surviving entity and will become a wholly-owned subsidiary of HPE," CCI said in a release.

Mehul Choksi's plea seeking records related to the suspension of his passport from the regional passport office. Choksi, an accused in a multi-million dollars scam at the Punjab National Bank, has claimed that he can not return to India as his passport is suspended on the ground of a «security threat to India». The special judge for the Prevention of Money Laundering Act (PMLA) cases S M Menjoge, however, allowed his plea seeking copies of investigation files relevant to decide whether there are sufficient grounds to declare Choksi a Fugitive Economic Offender (FEO).

Delhi High Court's Justice Subramonium Prasad on Wednesday recused himself from hearing the plea filed by alleged conman Sukesh Chandrasekhar, seeking additional meetings in jail with his lawyers. The recusal was due to the multiple legal cases against Chandrasekhar, which could potentially present a conflict of interest or require a different judicial perspective. Sukesh Chandrashekhar through a plea requested permission to increase his meetings with his legal counsel to five times a week. This request sought an additional three meetings beyond the two meetings per week currently allowed. To support his request, Chandrashekar referred to the Arvind Kejriwal case where he was granted five weekly meetings with his council.

Starbucks reportedly fired Indian-origin Laxman Narasimhan from the position of Chief Executive Officer, a recent interview of him saying he 'almost never' worked past 6 pm has been making rounds on various social media platforms. «I am very disciplined about balance. If there's anything after 6 pm and I am in town, it's got to be a pretty high bar to keep me away from the family. Anybody who gets a minute of time after that better be sure that it's important… Because if not it will just wait for another day,» Narasimhan said in an interivew to Fortune. Starbucks on Tuesday announced that Chipotle Mexican Grill's head, Brian Niccol, will replace Chairman and Chief Executive Officer Laxman Narasimhan.

Oyo posted a net profit of Rs 229 crore for 2023-24, founder and chief executive Ritesh Agarwal said in a post on X. “One big learning for me over the years is under-promise and over-deliver,” he said, while adding that the net profit had exceeded his earlier estimate of Rs 100 crore. “Now with Rs 0.36 EPS (earnings per share) done, now to Re 1 EPS and beyond at FY25. Lots of improvements still left to do. Proud of what we are building together,” he wrote on the microblogging site.

New Delhi: Coal India Ltd has removed the limit on the quantity purchased by power producers and allowed supply beyond their annual contracted volume. The company has done away with an earlier provision which allowed coal supplies up to a maximum of 120% of the contracted quantity to power plants, it said on Tuesday. Now, the simplification would benefit the power plants which prefer to lift higher quantities of coal beyond their stipulated contracted quantity, it said.

Pfizer's CEO Albert Bourla is trying to reposition the global pharmaceutical giant for a post-pandemic world

Mint. Fresh from a trip to London and dressed in his usual crisp white BluSmart shirt and blue turban, Jaggi has other concerns now. While he maintains demand for rides is strong and growing, scaling up would require more charging points.

AssetMark is looking to expand its influence in the wealth tech space by helping advisors tap a flourishing opportunity in financial planning for their clients.

Mint on 12 July, K. Krithivasan, CEO of India’s largest IT services company, Tata Consultancy Services Ltd (TCS), said that delivering differentiations to clients is key, instead of riding a hype cycle. However, the road to adoption is still hazy.

Mint looks at the new approach and the significance of the 3% target set by law. Governments need to live within their means. But with the ability to print money and borrow at will, they often spend more than what they earn, causing fiscal deficit.

Mint had reported that Shell Plc was looking to sell a stake in the operational assets of Sprng Energy group, and engaged Ambit Group for a valuation exercise. Last June, Shell unveiled a “balanced energy transition" strategy under chief executive Wael Sawan, focusing on maintaining its leadership in the global liquefied natural gas (LNG) market while “stabilizing liquids production to 2030." In an emailed response, a Shell Group spokesperson stated, “We don’t have any further comments beyond what we have earlier stated." “As stated at Capital Markets Day in June 2023, we are working to grow our renewables portfolio as part of an integrated power business in the key market of India.

The Mallorca Files has recently concluded its third season, which premiered on August 8. As viewers revel in the latest episodes, anticipation is high regarding the future of the show. Fans are eager to learn whether The Mallorca Files will be renewed for a fourth season or if it faces cancellation.

Indian Army troops on Monday displayed unwavering courage and dedication along the Line of Control in the remote regions of Sunderband Naushera in Rajouri district of Jammu and Kashmir. The visit highlighted the formidable challenges faced by soldiers stationed at the border, who steadfastly defend the nation with determination and selflessness, PRO and Spokesperson Ministry of Defence, Jammu stated.

While she was initially underutilized in the series, her storyline gained prominence in Season 6, only to be somewhat sidelined again in the final season. However, the latest updates indicate that Missy’s character will play a more significant role in the sequel series, much to the delight of fans, as per the Screenrant report.

NEW DELHI : India had 162 million demat accounts as of June, and 93 million SIP (systematic investment plan) accounts as of July—a strong indicator of increasing financialization in the country. Still, there are places where terms like “Sensex" or “Nifty" are foreign to people. Kargil, in the Union territory of Ladakh, over 200 kilometres from Srinagar, is one such place.

Reliance Capital's resolution plan by Hinduja Group-promoted IndusInd International Holdings. The NCLT Mumbai bench also directed IndusInd International Holdings Limited (IIHL) and the Committee of Creditors (CoC) to jointly hold a meeting to decide steps to be taken for the implementation of the same. The National Company Law Tribunal (NCLT) — comprising Justice Virendrasingh G Bisht and Justice Prabhat Kumar — directed the Reserve Bank and DIPP to expedite 'the consideration of the approvals' to IIHL that are needed for implementing the RCaP resolution plan. The tribunal was hearing a petition filed by the Hindujas, seeking modification of its July 23 order and an 'extension to complete the obligations' for implementing the resolution plan.