Record News

Indian rupee weakened against the dollar as the greenback strengthened globally due to investors’ risk aversion after an assassination attempt on former US president Donand Trump and as weakness in the Chinese yuan weighed on Asian currencies, dealers said. The rupee closed at 83.59 against the US dollar on Monday, versus the previous close of 83.53, LSEG data showed. The dollar index touched a high of 104.32

NASA's Parker Solar Probe has achieved a remarkable feat, solidifying its place as the fastest human-made object ever recorded. According to NASA, on June 29, the probe reached a remarkable speed of 635,266 km (394,736 miles) per hour, matching its own previous speed record set in 2018 since its launch.

Record immigration caused the population of England and Wales to rise by 610,000 to 60.9 million in mid-2023, the largest annual increase in 75 years, official data showed on Monday. What statisticians term 'natural' population growth — the difference between births and deaths — fell to just 400, the lowest since 1978, while net international migration rose to 622,000, up from 548,500 in the previous 12 months. A net 13,800 people also moved from England and Wales to Scotland or Northern Ireland.

British luxury fashion house Burberry has appointed Joshua Schulman as its new chief executive officer

paddy area under climate-resilient seeds, a senior agriculture ministry official said on Monday. The move comes as erratic rainfall patterns have become increasingly common in recent years, threatening rice production in the country. India, the world's second-largest rice producer after China, cultivates paddy on over 410 lakh hectares during the kharif season. Speaking on the sidelines of ICAR's 96th Foundation and Technology Day celebrations, ICAR Director General Himanshu Pathak said, «While we have achieved 75 per cent coverage of climate-resilient seeds in wheat cultivation, the adoption in paddy is still limited.»

Butterfly Gandhimathi Appliances Ltd, which Crompton had acquired in FY22. Crompton took a strategic call to shift Butterfly’s focus from B2B to retail by spending on brand building and developing retail distribution network. B2B is a low margin business and reduces a company’s ability to charge a brand premium, hurting longer-term profitability.

Congress MLA Roopakala Shashidhar was the first legislator to be recorded by the cameras on arrival at the Assembly for the monsoon session, which began today as the new system became operational. The first MLA to be captured exiting was Tiptur's Shadakshari of Congress. Speaker U T Khader noted that there is a practice of recognising MLAs who come early to the Assembly before the quorum bells are rung and their names are read out in appreciation by the Chair.

India Post GDS Recruitment 2024: The Department of Posts, under the Ministry of Communications, has announced a big recruitment drive for 44,238 Gramin Dak Sevaks (GDS), Branch Post Masters (BPM), and Assistant Branch Post Masters (ABPM). This opportunity aims to expand India's postal services network.

Anupam Mittal, the founder of Shaadi.com and a well-known figure from Shark Tank India, quipped that the Ambani family could have televised their grand wedding on JioCinema, their own streaming platform. In a post on X (formerly known as Twitter), Mittal wrote, «Dulha bhi khud ka, JioCinema bhi khud ka (Groom belongs to them, JioCinema also belongs to them). Should have broadcast 'The Shaadi', would have rivaled IPL ratings.» This tongue-in-cheek remark suggested that broadcasting the wedding might have garnered viewership comparable to the Indian Premier League (IPL), one of the most-watched cricket tournaments in the country. The Ambani wedding, which took place on July 12, was indeed a spectacle. Anant Ambani, the youngest son of Mukesh and Nita Ambani, tied the knot with Radhika Merchant in a lavish ceremony that drew a constellation of celebrities, cricketers, business moguls, and dignitaries. Even Prime Minister Narendra Modi graced the event, blessing the newlyweds with his presence.

GACM Technologies DVR, and Indowind Energy are the three companies that have fixed July 16 as their record date for the rights issue at Re 1, Re 1, and Rs 22.5 per share, respectively. A rights issue occurs when a company asks its current shareholders to buy additional shares at a discount before a certain date. This gives shareholders the right, but not the obligation, to purchase new shares at a discount to the market price up to a specified future date.

The Calgary Stampede is closing in on its all-time attendance record set more than a decade ago.

Companies like CDSL, IDBI Bank, IDFC, and Nestle India, among others, have declared dividends for eligible shareholders, with the record date set as July 16. Today is the last day to buy shares of these companies to qualify for the announced dividends.

Venice is wrapping up a pilot program charging day-trippers a 5-euro entrance fee

₹16,634 crore, against ₹7,285 crore collected in the same time a year ago, according to the Central Board of Direct Taxes (CBDT). This follows strong volume growth in the markets, as valuations stage a rebound after the national polls. Data from the Bombay Stock Exchange showed there have been 4.6 million trades a day an average so far this financial year compared with 3.3 million trades last financial year.

professional services firms in India combined now have over 3,300 partners — equity plus non equity — with EY being the first firm to exceed 1,000 partner benchmark driven by continued strong growth in advisory businesses after the Covid-19 disruption. In the last three years, the advisory businesses — consulting, deals and risk — have grown much faster — 25% plus-than the traditional areas like audit and tax, which have grown between 15% and 22% for most firms, as the firms continue to pivot towards high-growth advisory services, including tech consulting and implementation. With EY being the last Big Four firm to close its financial year on June 30, the combined revenue of the Big Four firms — affiliates included — in the last financial year has crossed ₹39,000 crore, according to multiple senior partners ET spoke to across firms.

Gold and copper are two of the oldest metals known to humans. They have now acquired a new sheen. In the case of gold, uncertainty in the global economy and instability in geopolitics have sent the price of the precious metal, an investment of safe resort, soaring. In the case of copper, the ongoing energy transition and move to Industry 4.0, which are highly mineral-intensive, has seen demand grow impressively with an upward pressure on prices. India is heavily import-dependent for both metals, importing more than 95% of demand for each. GoI can dent this trend. Indeed, security of mineral supply chains is already emerging as a priority. India's goal as a manufacturing hub can only be realised if there is a security of raw materials. So far, GoI has pursued a strategy of looking for resources overseas. It can look at home as well.

Copa America final between Argentina and Colombia will be live telecast on Fox. One can also live stream the soccer game on DirecTV Stream which offers five-day trial. This means one can watch the match for free. Colombia are likely to make an upset in the biggest stage of South American soccer tournament by defeating Argentina.

Supreme Court is scheduled to hear on July 15 a plea of BRS supremo K Chandrasekhar Rao challenging a Telangana High Court order dismissing his plea to declare as «illegal» the constitution of a commission to inquire into the alleged irregularities in the power sector during his tenure as the state's chief minister. The plea is listed to be heard by a bench of Chief Justice DY Chandrachud and justices JB Pardiwala and Manoj Misra. In his petition, Rao has sought to declare as «illegal» the Telangana government's order constituting the Commission of Inquiry to conduct a judicial inquiry into the correctness and propriety of the decisions taken by his government on procurement of power from Chhattisgarh by Telangana power distribution companies and construction of the Bhadradri Thermal Power Plant at Manuguru and the Yadadri Thermal Plant at Damarcherla by TSGENCO. TSGENCO is the abbreviation of the Telangana State Power Generation Corporation Limited.

RBI ban on tech related loopholes, the newly appointed chief of Kotak Mahindra Bank, Ashok Vaswani in his maiden annual letter to shareholders has said that technology will be at the centre of the lender’s efforts to transform and scale further. Addressing the RBI order Vaswani added that the bank had much more to do to leverage technology. “It is evident that we have more to do… Changing customer expectations, the dramatic pace of business growth and the emerging risk landscape have meant that we have to move at a much faster pace,” Vaswani said. “We are absolutely committed to further enhancing our resources and commitments in this area and I am very confident that collectively, as a team – we will deliver and use this as an opportunity to leapfrog. It is also very clear that technology is going to be at the centre of our efforts to transform and hence, scale.” In April this year, the banking regulator had directed Kotak Mahindra Bank to stop onboarding new customers through its online and mobile banking channels and banned it from issuing fresh credit cards.

Retail inflation, or the Consumer Price Index (CPI) in India, is expected to remain below or close to 5.0 percent in the remaining months of 2024-25, except for September, according to SBI Research. India's retail inflation rate increased in June, deviating from the moderation seen in previous months, driven by rising food prices. The year-on-year inflation rate based on the all-India Consumer Price Index (CPI) was 5.08 percent (provisional) for June 2024. The corresponding inflation rates for rural and urban areas were 5.66 percent and 4.39 percent, respectively.

Quant Mutual Fund (MF), which was under Sebi’s investigation for a front-running case, has informed its unitholders that the assets under management (AUM) and net asset values (NAV) for most schemes have reached a record high level as of July 12, 2024. The fund's AUM now exceeds Rs 94,000 crore as of July 12. The fund house conveyed this information to investors via mail on Saturday, providing clarification regarding Sebi's investigations into front-running allegations. Despite experiencing net outflows of Rs 696 crore and net equity outflows of Rs 877 crore over the last three weeks, the fund's AUM remains at an all-time high. The rise in AUM to over Rs 94,000 crore marks a significant milestone for the mutual fund house. However, investors were also informed about the ongoing investigation initiated by the market regulator into front-running allegations against the company.