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US stock market's main indexes slid on Tuesday as Wall Street saw the benchmark S&P 500 index, Nasdaq and Dow registering their biggest daily drop since early August. The broad-based S&P 500 shed 2.1 percent to 5,528.93, while Dow Jones Industrial Average fell 1.5 percent to 40,936.93. The tech-focused Nasdaq finished at 17,136.30, down 3.3 percent in the market's first session in September following Labor Day 2024 holiday. Semiconductor shares Nvidia, Advanced Micro Devices and Intel all fell about eight percent or more. Shares of chip stocks were hard hit, with AI heavyweight Nvidia tumbling nearly 10 per cent and Wall Street's chip index the PHLX chip index slumping 8 per cent.

Tarun Tahiliani and Abu Jani, Sandeep Khosla to Sabyasachi and Rahul Mishra recorded a surge in sales of wedding and occasion wear in 2023-24, ranging between high double-digits and triple digits, bucking the overall trend of lacklustre demand as a sharpening focus on premiumisation added sheen to their labels. «Luxury is always recession-proof if you do it right,» fashion designer Sabyasachi Mukherjee told ET. «The good thing about being a good luxury brand is you almost create a monopoly. So, when everybody fails, you're the last man standing which probably reflects in the financials.» Joint Ventures

Andhra Pradesh and Telangana have sounded a red alert and are preparing for any possible outbreak of water-borne diseases as unprecedented torrential rains have battered the states leading to widespread damage to roads, crops, homes and vital installations. The rainfall has broken records with officials citing pre-Independence rainfall figures to compare what the two states have received since August 30. Andhra Pradesh CM N Chandrababu Naidu and Telangana CM Revanth Reddy are travelling across districts overseeing the relief works. ET spoke to Andhra Pradesh chief secretary Neerabh Kumar Prasad and Telangana special chief secretary (disaster management) Arvind Kumar, who are spearheading relief measures in the two states to check the extent of damage and why the worst may not be over:

Montana Democratic gubernatorial candidate Ryan Busse has provided 10 years of income tax records as he tries to goad Republican Gov. Greg Gianforte into debating him ahead of the November election

When should income be taxed? Put another way, especially in the context of business income, how is profit for tax purposes computed?

loan loss provisioning by publicly listed banks in the June quarter increased to a four-quarter high led by a select banks including public sector banks (PSBs) such as State Bank of India (SBI) and Central Bank of India and private sector banks such as Axis Bank, Kotak Mahindra Bank, and Bandhan Bank. The sequential increase can be attributed to seasonal weakness in collections and higher delinquencies in the retail segment. For a sample of 29 banks, provisioning for non performing assets (NPAs) reached Rs 25,737.1 crore in the June 2024 quarter. On a sequential basis, these provisions rose by 11.3%, following an 18.3% increase in the previous quarter. The increase in provisioning in the June quarter was driven largely by the private sector banks, which posted a 38% sequential jump whereas the PSBs reported 2.9% drop in provisions.

Phillips had worked at Société Générale Asset Management as head of UK wholesale distribution prior to the firm's acquisition by GLG, which Man Group later acquired in 2010.  Man Group president Steven Desmyter thanked Phillips for his service, noting that he «has enjoyed a long and distinguished career at the firm and played a significant role in its growth in the UK».  «We thank him for his expertise, humour and commitment, and wish him all the best for his retirement,» he added.  Man Group enjoys record $900m net inflows as performance fees surge fivefold Phillips added that ...

This was almost threefold the five-year average level of share buybacks carried out by the company between 2019 and 2023, according to recent data from the £13.3bn investment trust giant. In 2021, the trust set a record for buybacks, repurchasing nearly £467.6m of its own shares while also issuing £525.6m during the same period. SMT's Stewart Heggie: 'How long do you let the discount go on without taking concerted action?' Earlier this year, Scottish Mortgage made at least £1bn available to buy back its shares in an effort to narrow its then widening discount. The £1bn package w...

GST Network will launch the Invoice Management System (IMS) from October 1 which will facilitate taxpayers in matching their records/invoices vis-a-vis issued by their suppliers for availing the correct Input Tax Credit (ITC). In an advisory to Goods and Services Tax (GST) payers, GSTN said to enable taxpayers to efficiently address invoice corrections/amendments with their suppliers through the portal, a new communication process called the IMS is being launched. «This will also facilitate taxpayer in matching of their records/ invoices vis-a-vis issued by their suppliers for availing the correct ITC,» GSTN said. IMS will allow the recipient taxpayers to either accept or reject an invoice or to keep it pending in the system, which can be availed later.

Shobha Karandlaje on Tuesday filed an affidavit before the Madras High Court, apologising to the people of Tamil Nadu for her remarks made in light of the Rameshwaram Cafe blast in Bengaluru earlier this year. Post the March 1 low intensity blast at the popular eatery in Bengaluru, Karandlaje had linked the people of Tamil Nadu with the incident and she was booked by the Madurai police over the matter. She had moved the court seeking to quash the criminal proceedings against her. In her affidavit filed before the bench of Justice G Jayachandran, Karandlaje said the remarks made about the people of TN was done «without any intention» to hurt their sentiments and feelings.

Goldman Sachs believes gold has the highest potential for a near-term price hike due to its status as a preferred hedge against risk, while weak demand from China has led to a «more selective, less constructive» view of other commodities. «Imminent Fed rate cuts are poised to bring Western capital back into the gold market, a component largely absent of the sharp gold rally observed in the last two years,» Goldman analysts said on Monday in a note titled 'Go for Gold'. Spot gold has gained 21% so far this year, breaking successive records and hitting a historic high of $2,531.60 per ounce on Aug. 20.

AIPL plans to take the rental portfolio to nearly 5 million sq ft with multiple retail and office complex under construction, a senior executive said. Majority of the company’s commercial project are in Delhi-NCR while some are in Punjab as well. The company currently operates 1.4million sq ft and by Q2 2025, two projects, AIPL Statement and AIPL Autograph having total leasable area of 3.5 million sq ft would be ready.

IIM-Ahmedabad's one-year MBA programme for executives (PGPX) faced challenges this year amid a global slowdown, with the highest maximum earning potential (MEP) offered at Rs 54.8 lakh per annum, marking a six-year low. The highest-ever MEP of Rs 1.08 crore was recorded last year, while the average highest MEP from 2018 to 2022 was Rs 70.56 lakh. In addition, the median MEP increased from Rs 33 lakh in 2023 to Rs 35 lakh in 2024. Out of 147 students, 126 opted for placements, and 121 accepted offers, leaving five unplaced. This is the second instance since the pandemic year 2020 where five students did not secure their desired offers. Three students pursued entrepreneurship, and two joined their family businesses. A total of 105 recruiters participated, with 67 being first-time recruiters. The placement data was shared through the Indian Placement Reporting Standards (IPRS) report for IIM-A's PGPX programme.

Vedanta on Tuesday gained 2% to its day’s high of Rs 473.05 after the company announced third interim dividend of Rs 20 per share for the financial year 2024-25. The total dividend payout will amount to Rs 7,821 crore and the company has set September 10 as the record date for the purpose.

trade ban on Tuesday viz. Balrampur Chini and Hindustan Copper. The Future & Options contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%. Traders who trade in indexes do not encounter a security ban.

trading sessions, Nifty has created a new record of longest winning streaks in Dalal Street's history but the gravity-defying No. 13 feat can now create trouble for bulls going forward. Such long periods of uninterrupted winning streaks are usually followed by negative returns. A study of Nifty's marathon runs lasting at least 9 days while being within 1% of its all-time high shows that the index has given negative returns of 3% in the next one month.

average annual package of Rs 23.5 lakh, a slight increase from last year's Rs 21.8 lakh. However, the packages offered were as low as Rs 4 lakh per annum, raising further concerns in the education industry. Ten students accepted job offers in the range of Rs 4 lakh to Rs 6 lakh per annum. Despite the 7.7 per cent rise in average compensation, fewer students were placed through the campus drive compared to the previous year, as per a report by the premiere institute. Further, the placement percentage recorded for the said year is not more than 75 per cent.

Reliance Chemotex and 8 other companies are expected to be in focus today as they have set September 4 as the record date for determining shareholders eligible for dividend payments. This means today will be the last day to buy the shares of these companies to be able to qualify for the dividends announced by them.

Buy or sell stocks today: The Indian stock market's benchmark index, Nifty 50, hit fresh record highs on Monday, September 2, marking its 13th consecutive day of the index closing in the green. The index closed 0.17 per cent higher at 25,278.70 points, up from 25,235.90 points in the previous session. The BSE Sensex closed 0.24 per cent higher at 82,559.84 points, compared to 82,365.77 points in the previous market close.

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

₹68,000 per 10 grams, while that of 9 KT gold ranged between ₹25,000 and ₹30,000 per 10 grams. The rise in demand for low-karat gold jewellery comes amid an increase in chain-snatching incidents. According to the National Crime Records Bureau (NCRB), India witnessed a significant spike in 2022, with the numbers rising to 9,278—a 32.54% increase - from 7,000 in 2021.