Usa Financial News

Read here: Week Ahead: Inflation data, Q4 Results, FII activity, global cues among key market triggers this week On Friday, the Indian stock market benchmark indices ended higher, but lost over 2% each for the week, with heavy selling seen in broader markets. The Sensex gained 260.30 points, or 0.36%, to close at 72,664.47, while the Nifty 50 settled 97.70 points, or 0.44%, higher at 22,055.20. “Heavy FII selling, and concerns over the outcome of ongoing general elections added to the overall pressure in the markets.

Srinivas Pallia replaced Thierry Delaporte in the corner room of Bengaluru-headquartered Wipro Ltd, the company is attempting to settle lawsuits it had filed against two former senior executives, according to a review of court filings and two executives aware of the development. Jatin Dalal, former chief financial officer of Wipro, and Mohd Ehteshamul Haque, the company’s former senior vice president and head of healthcare and medical devices business, were sued by India’s fourth-largest IT services company for breach of employment contracts. Both had joined rival Cognizant Technology Solutions Corp less than 12 months after resigning from Wipro.

Sensex gained 260.30 points to close at 72,664.47, while the Nifty 50 settled 97.70 points, or 0.44%, higher at 22,055.20. Nifty 50 formed a small positive candle on the daily chart with minor upper and lower shadow. “Technically, this pattern indicates temporary pause in the market after a sharp decline.

Mint had reported that Accenture, which earns twice as much as TCS in annual revenues, had taken a swipe at TCS’s digital offerings under Business 4.0, via its digital solutions platform, Accenture X.O. “Stop playing catch-up and start applying digital at the core of your business to reinvent for a new era of industry. Go beyond Industry 4.0: If you think Industry 4.0 is the epitome of industrial digitization—think again.

Russian energy firms are preparing to “hunt down” private crypto miners and crack down on people mining cryptoassets at home, a report claimed on May 12.

Foreign investors in local markets have historically factored in the rupee's depreciation versus the US dollar, but stronger macroeconomic fundamentals, sweeping improvements in market infrastructure, and formidable central bank reserves have started to reverse that template, a top DBS Bank executive said. «Vis-a-vis, the rest of the world, the earlier story of a regular rupee depreciation will start to dissipate. While we are going to be a function of global markets, the rupee bonds will actually outperform the US and the rest of the developed markets,» Ashhish Vaidya, head, treasury & markets, DBS Bank, told ET.

Apple has started FY25 with a bang in India — exports of iPhones made in the country nearly doubled in April to $1.1 billion (Rs 9,000 crore) from $580 million a year ago, according to official data reviewed by ET. April is typically a low-export month as there aren’t too many festive sales in any part of the world during the month, experts said. Based on this, they expect the US giant to achieve the Rs 1 lakh crore export mark in FY25 as India emerges as the firm’s second manufacturing base for iPhones outside China. iPhones are only made in India and China and experts estimate that 14-15% production has shifted to India and is likely to reach 26% by 2026. Apple exports a bulk of its total India production. In FY24, Apple’s total production in India touched $14 billion (Rs 1.2 lakh crore). The company’s exports crossed $10 billion (Rs 85,000 crore). Both these figures were the highest achieved by any company in India till date for a single financial year.

Severe weather threat, including tornado, is expected to expand its reach on Monday, stretching further eastward and encompassing approximately 19.5 million individuals across the Southern region in the US. Severe weather threat includes Texas cities such as Austin, San Antonio, Waco, Houston and Corpus Christi. Apart from Texas and its areas, Shreveport, New Orleans, and other parts of Louisiana are under weather watch. Southern Arkansas, and Mississippi will also inclement weather. The weather comes on the heels of a stormy April in which the US had 300 confirmed tornadoes, the second-most on record for the month and the most since 2011. Both the Plains and Midwest have been hammered by tornadoes this spring, as per an AP report.

Howard University has cancelled graduation mid-ceremony as family members reportedly created a ruckus, as per a report on New York Post. A student was found injured. The incident took place at the Cramton Auditorium in Washington where students of the College of Nursing and Allied Health Sciences had gathered. There was utter pandemonium as family members of the students wanted to enter the auditorium, as per the report.

monsoon season that begins in June. "A transition from El Niño to ENSO-neutral is likely in the next month. La Niña may develop in June-August (49% chance) or July-September (69% chance)," NOAA said.

US inflation probably moderated in April for the first time in six months, offering a ray of hope that price pressures will start to ease again after a string of upside surprises. The core consumer price index (CPI), which excludes food and fuel, is seen rising 0.3% from a month earlier after 0.4% advances throughout the first quarter. The Bureau of Labor Statistics will issue its CPI report on Wednesday. Compared with April 2023, the core CPI is projected to rise 3.6%. While that annual increase would be the smallest in three years, it's still running too fast to placate Federal Reserve policymakers, who want evidence inflation is slowing consistently as they debate interest-rate cuts.

Mother's Day 2024 is here and it's time to honour the special woman in your life — Mom. On the occasion one can take his/her to lunch or dinner, gift her a present and wish. For the wish part, we are here to help you. We have curated a few heart-warming messages which can be shared on Facebook, WhatsApp or through simple text. The messages are below -

European business leaders don't seem much concerned about the prospect of another Trump presidency. Some even view it optimistically. Not even Trump's expected unilateral trade moves seem to alter the equation much. In fact, such a move on Trump's part could provide European business leaders with political cover to help them justify shifting production out of Europe. Motivation to shift capital and production out of Europe go well beyond the oft-cited lower cost of energy. To the West, labour productivity in the US on average grew 0.8 percentage points faster a year between 2008 and 2023 than in the eurozone. To the East, there is high growth potential and associated investment opportunities.

Paddington 3, officially titled Paddington in Peru. With a star-studded cast and a new adventure on the horizon, fans eagerly await the release of the third installment in the Paddington franchise.

Sujeet Kalkal and Jaideep Ahlawat resisted their respective rivals well at the World Qualifiers on Sunday but could not add more quotas to India's kitty for the Paris Olympic Games, where the country will have only one male wrestler in Aman presenting his challenge. In his crucial 65kg bronze medal contest, Sujeet matched USA's Zain Allen Retherford in terms of skills but conceded a takedown on counter attack to lose 2-2 on criteria. It was Sujeet who got on board first with a tremendous counter-attack move. He was about to concede points on takedown but surprised the American with his quick counter and led the bout for considerable period. Looking for another take-down, he went after Retherford but it was now turn of the American to pull off a counter move as he got the take-down near the end of circle.

arrive at Earth on May 12th," the space weather prediction center said in its update. CMEs are powerful solar eruptions or large expulsions of plasma and magnetic fields from the Sun's corona. The major geomagnetic storms are induced by coronal mass ejections (CMEs).

More working U.S. parents than ever are celebrating their first Mother’s Day with hard-fought access to paid time off to care for newborns

ALSO READ: US man who got 1st pig heart transplant dies after 2 months "The Mass General transplant team is deeply saddened at the sudden passing of Mr. Rick Slayman. We have no indication that it was the result of his recent transplant," ABC News quoted Massachusetts General Hospital statement.

₹1 trillion revenue from India operations," said Faisal Kawoosa, chief analyst and founder at research firm Techarc. Emails to Apple, Foxconn and Tata Electronics did not elicit a response till press time. Analysts tracking Apple and the India market said that building a local ecosystem would be crucial for raising the production levels.

workers at a Maryland Apple store voted on Saturday to authorize a strike, which would mark the first such labor action against the retailer in the United States if it goes forward. Employees at the Apple store in the town of Towson, outside of Baltimore, voted to unionize in 2022 — another first for the iPhone maker's US stores.

When Iran shot off rockets at Israel, analysts across the world waited with bated breath in anticipation of an oil-price spike. Some expected crude oil to cross $100 per barrel within days and hurt a global economy already reeling from supply chain bottlenecks. The ‘First Oil Shock’ of 1973 was recalled, when an Arab oil embargo disrupted Western economies.