Usa Financial News

Varun Beverages on Monday reported robust earnings for the quarter ended September, with the consolidated net profit rising nearly 32% year-on-year (YoY) to Rs 501 crore, on the back of strong topline and operational performance. Consolidated revenue, net of excise duty, grew by nearly 22% YoY to Rs 3,871 crore, led by a healthy growth in volumes and realisations. Despite the strong earnings growth, the stock wiped the gains and fell 0.7% to Rs 946.10 due to profit-booking. Ahead of the earnings, the stock had touched a one-month high of Rs 965.70. Consolidated sales volumes grew by 15.4% in the third quarter of the calendar year to 220 million cases, led by a double-digit growth in both Indian and international markets, the company said. Varun Beverages, which is PepsiCo’s second-largest franchisee outside the US, follows the calendar year. Net realization increased by 5.6% to Rs 176.3 per case, driven by an increase in realization per case primarily in the international markets. Operating profit, calculated as earnings before interest, taxes, depreciation, and amortisation (EBITDA), increased by 26% on year to Rs 882 crore. Gross margins improved by 163 bps to 55.3% in the quarter, primarily due to the softening of PET chip prices.

Adani Total has fallen 85% this year, reaches Hindenburg's target price Following this the CJI said that it would ask the registrar to check it and asked the lawyer to mention it tomorrow again and he will look into it. Earlier, market regulator SEBI filed a status report before the Supreme Court apprising it that out of 24 investigations arising out of the Hindenburg report, 22 are final in nature and 2 are interim in nature.

US Federal Reserve is likely done hiking interest rates in the current cycle. The local unit opened at 83.13 a dollar as compared to Friday’s close of 83.29. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.03% higher at 105.05.

KPMG, the auditor of British industrialist Sanjeev Gupta’s InfraBuild, has warned of “material uncertainty” for the Australian steel distribution group if it is unable to complete a $US350 million ($544 million) financing offer to replace debts that fall due late next year.

It has been several months of silence at Austal, the ASX-listed shipbuilder which brought in JPMorgan to gauge interest in a buyout. Now it seems that two North American private equity firms – Cerberus Capital Management and JF Lehman & Company, are back and serious about a proposal.

Over two days of talks between world leaders, business executives and researchers, tech CEOs such as Elon Musk and OpenAI's Sam Altman rubbed shoulders with the likes of US Vice President Kamala Harris and European Commission chief Ursula von der Leyen to discuss the future regulation of AI.

H-1B visa system, the United States will also codify the requirement of an amended petition in case of a change in the H-1B worker's workplace. This move comes after a prior ruling from the US Court of Appeals in the District of Columbia, reiterating the need for sponsoring employers to submit an amended H-1B petition to the US Citizenship and Immigration Services (USCIS) when a foreign employee relocates within the United States. In July 2015, the USCIS issued a policy memorandum, based on a decision by the Administrative Appeals Office in a specific case. According to the memorandum, a foreign employee's relocation from one domestic location to another constituted a 'material change' and demanded the submission of an amended H-1B visa application. This policy faced legal challenges, but the courts upheld the requirement. The newly proposed changes will formalize this obligation. Now, employers will need to submit a new Labour Condition Application (LCA) and a new H-1B petition before the location change occurs. Failing to do so may lead to the H-1B worker being considered in violation of their visa status. It's essential to be aware that these changes will result in additional costs for the sponsoring employer. However, when the job location change happens within the same area of intended employment, this requirement does not apply. These changes aim to ensure compliance with the H-1B visa program, particularly regarding the employment locations of visa holders.

India's tech landscape, the Indian government has ordered all smartphone companies to start supporting NavIC, India's navigation satellite system. The announcement, made in September 2023, makes it mandatory for 5G smartphones to support NavIC, short for Navigation with Indian Constellation, by 1 January 2025, and other phones by December 2025. The new rule comes after Apple's groundbreaking decision to incorporate NavIC support in some of its latest iPhone 15 models.

Hong Kong is considering allowing spot exchange-traded funds (ETFs) that directly invest in cryptocurrencies.

Anurag Singh, Managing Partner, Ansid Capital, “we are very cautious on emerging markets. India is an exception, we will talk about it but outside India, for the rest of the emerging markets, look at the MSCI 10 year returns. They have been sub 3%. China, Brazil, Argentina, South Korea have produced some phenomenal companies, but market wise they have not produced great returns.” Singh also says: “China in a big way benefited out of an export-led economy. Now exports and trade as a percentage of global GDP is dropping. It peaked out about 8 to 10 years back and now it is the time where India empowers the domestic economy and looks at the domestic facing sectors.” Friday's rally is triggered by what is happening in the world. Are you comfortable with yields coming down all of that or are you still cautious? It is good to be back in India right now. I will continue to be cautious right now. We will discuss those four or five macro trends that I am going to pull out. We would observe that there is going to be a constant pressure on the 10-year yield of the US.

“With the election buzz around the corner, steering clear of volatile stocks, especially in the smallcap realm, would be smart,” says Sonam Srivastava, Founder and Fund Manager at Wright Research, PMS. In an interview with ETMarkets, Srivastava said: “Considering the delayed festive season, placing bets on the consumption narrative, commodity and energy sectors, sizable banking and financial entities, and IT stocks, which have caught the eye of FIIs, could be a strategic approach to capitalize on the present dip” Edited excerpts: We have seen markets coming down from highs in both Sensex and Nifty. What is fueling the fall – is it the combination of a rise in US Yields and geopolitical concerns? The Sensex and Nifty have seen a notable correction lately, which seems a bit out of place considering India's strong growth narrative.

Veterinarians in Canada say they are experiencing extreme burnout and plummeting mental health due to staff shortages, a booming number of animal patients and the round-the-clock stress of the job.

Sensex closed 282.88 points higher at 64,363.78, while the Nifty 50 gained 97.35 points to settle at 19,230.60 on Friday. Nifty 50 formed a small negative candle on the daily chart with gap up opening and with minor upper and lower shadow.

Indian markets are likely to open on a positive no... moreIndian markets are likely to open on a positive note on Monday, following gains in global peers amid increased bets of no more interest rate hikes by US Fed.

Israeli Army said on Sunday that «significant strikes» are being carried out and the Gaza Strip has been «cut into two», Al Jazeera reported. Army spokesperson Daniel Hagari said that the Israeli forces «have encircled Gaza City» and «now there exists a south Gaza and a north Gaza». «Troops reached the coastline and are holding it», he added. «There are now widespread strikes on terror infrastructure — below ground and above it,» Al Jazeera quoted Hagari as saying. In another statement, Chief of the General Staff, LTG Herzi Halevi, during a meeting in the Northern Command, said that the IDF is ready to strike in the northern Gaza at «any moment». «We have a clear goal of restoring a significantly better security situation at the borders, not only in the Gaza Strip...We are ready to strike in the north at any moment,» IDF posted on X (formerly Twitter). Earlier in the day, Israeli Prime Minister Benjamin Netanyahu declared that Israel will not agree to a ceasefire until the Hamas terror group releases the hostages it is holding, The Times of Israel reported. «Take this (word 'ceasefire') out of the lexicon. We will continue until we defeat them; we do not have an alternative,» Netanyahu is quoted saying in a statement from his office. Meanwhile, Israeli envoy to the US, Michael Herzog called Gaza as the world's «biggest terror complex», Times of Israel reported. He said that Gaza is «the biggest terror complex in the world,» with tens of thousands of fighters and rockets, among other weaponry — and 310 miles (500 kilometres) of underground tunnels. «This is what we're up against.

United States and its Arab allies appeared divided over Israel's military offensive in Gaza to defeat Hamas, as Washington, alongside Israel, resisted pressure for an immediate ceasefire despite the rising death toll among Palestinian civilians. In a rare display of a public split, Arab foreign ministers at a press conference pushed U.S. Secretary of State Antony Blinken to persuade Israel to agree to a ceasefire.

Gold prices held steady near the key $2,000-per-ounce level on Monday after weak U.S. jobs data raised hopes that the Federal Reserve is done raising interest rates, sending the dollar and bond yields lower. FUNDAMENTALS * Spot gold was little changed at $1,990.43 per ounce by 0100 GMT and U.S.

Asian shares rallied for a fourth straight session on Monday after markets moved to price in earlier rate cuts in the United States and Europe, bullish wagers that will be tested by a swarm of central bank speakers this week. Battered bond markets also enjoyed a welcome recovery as a benign U.S. payrolls report and upbeat productivity numbers suggested the labour market was cooling enough to obviate the need for further rate hikes from the Federal Reserve. «This year's better-than-expected U.S.

William J Burns, arrived in Israel on Sunday to hold discussions with leaders and intelligence officials, the first stop in a multi-country trip in the region, New York Times reported citing US officials. The visit comes as the US is trying to prod Israel to pursue a more targeted approach to attacking Hamas, allow pauses in the fighting for aid to enter Gaza and do more to avoid civilian casualties, according to NYT. Washington is also looking to expand its intelligence sharing with Tel Aviv, providing information that could be useful about hostage locations or any follow-on attacks by Hamas. A US official briefed on Burns' trip said that he planned to reinforce the American commitment to intelligence cooperation with partners in the region. Burns will travel to several Middle Eastern countries for discussions about the situation in Gaza, ongoing hostage negotiations and the importance of deterring the war with Hamas from widening to a broader context, NYT reported citing the US official. US officials have been visiting Israel at a regular cadence since war broke out after Hamas fighters attacked Israeli towns on October 7 and killed more than 1,400 people. Israel has retaliated with a massive counteroffensive including air campaign and ground invasion into Gaza, where Hamas is in control. More than 9,000 Palestinians have been killed in airstrikes since Israel began retaliating, according to Gaza's health ministry.

Read all the latest updates on the Israel-Hamas war hereThe Israeli military has discovered an extensive stash of weapons in a home in Beit Hanoun in the northern Gaza Strip as it searched the area. It found rifles, grenades, explosives, suicide drones and missiles in the residence, bringing some of the weapons back to Israel to inspect them.

US Federal Reserve will not hike interest rates further. Investors will now await US Fed Chair Jerome Powell’s speech for future guidance on interest policy. Among other stock market triggers for the domestic markets during this week include the ongoing second quarter results of current fiscal, domestic and global macroeconomic data, foreign capital inflow and global market cues.