Drop Financial News

By Lucia Mutikani

Funding of Web3 firms from venture capitalists has dropped 76% in the second quarter this year as compared to the same quarter in 2022, Crunchbase data revealed. 

Page Industries Ltd. traded 0.11 per cent lower in Wednesday's session at 12:25PM (IST).

Republican lawmakers urged the Federal Trade Commission to drop its fight against Microsoft's deal to buy video game maker Activision Blizzard, calling it «an example of the FTC's rejection of sound antitrust policy.» The lawmakers, all members of the Republican-controlled House of Representatives, in a letter sent on Monday to FTC Chair Lina Khan and two commissioners and publicly released on Tuesday, said the proposed deal is a «pro-competitive transaction.» The agency, which enforces antitrust law, is considering its options after a U.S. District Court judge ruled last week that the deal was legal and an appeals court declined an emergency motion to pause the transaction.

Woodside Energy posted a 29 per cent dive in quarterly sales after a drop in oil and LNG prices and a dip in production in its weakest quarter since merging with BHP Petroleum in June last year.

The rise in consumer prices cooled to 2.8 per cent in June, Statistics Canada reported on July 18, slightly below consensus expectations and the slowest pace since March 2021. While within the Bank of Canada’s target range, some costs are still putting a strain on Canadians’ wallets. Here are five things in the inflation data that you should know about:

'It is clear that shoppers have dramatically changed their behaviour to combat inflation,' said Fraser McKevitt, head of retail and consumer insight at market researcher Kantar

SRF Ltd. traded at Rs 2224.6 on BSE at 12:41PM (IST) on Tuesday, down 0.68 per cent. The stock quoted a 52-week low price of Rs 2082.15 and a high of Rs 2864.35.

₹643.20 apiece on the BSE. According to reports, 2.72 crore equity shares, representing 15.9% stake in Amara Raja Batteries, changed hands in the block deal. The shares were sold at an average of ₹654 apiece, taking the total deal value to ₹1,788.3 crore, reports said.

ICICI Prudential Life Insurance Company Ltd. traded 1.27 per cent lower in Monday's session at 01:52PM (IST).

Threads has crossed 150 million user sign-ups despite a usage drop. Meta launched Threads on July 5 for iOS and Android users in 100 countries, and it is among the top free apps on the App Store.

Securities and Exchange Board of India (Sebi) is asking companies planning initial public offers (IPOs) to remove director nomination rights provided to promoters and investor shareholders from the articles of association. They have to instead seek shareholder approval for such rights after listing, said sources aware of the development. The move is aimed at strengthening corporate governance.

Wholesale tomato prices eased in the national capital after the government stepped in to ensure the arrival of fresh supplies from Karnataka, but other vegetables have become dearer following disruptions, signalling continued pressure on household food costs. In Delhi's key Azadpur mandi, the wholesale price of tomatoes was hovering at ₹80-100 per kg, traders said Friday, compared with ₹160 per kg at the peak last week. The Centre on Wednesday directed the National Agricultural Cooperative Marketing Federation (Nafed) and the National Cooperative Consumers Federation (NCCF) to get tomatoes from Andhra Pradesh, Karnataka and Maharashtra for distribution in major consumption centres where retail prices have spiked. The arrival of tomatoes from Bengaluru has increased in Delhi.

A boutique investment bank set up by former Goldman Sachs bankers saw revenue in its UK operation fall 30% last year amid a deal drought that has also hit larger rivals hard.

Ambuja Cements Ltd. traded 0.2 per cent lower in Friday's session at 01:01PM (IST).

Two consecutive interest rate hikes from the Bank of Canada are expected to cool the national housing market after activity heated up in the spring, but experts warn supply is too tight for further price drops.

The consulting and research house saw a significant drop in users exploring ESG funds via its Fund Dashboard.

Voltas Ltd. traded 1.17 per cent lower in Thursday's session at 01:54PM (IST).

Investing.com — The U.S. dollar drifted lower in early European hours Thursday, continuing to fall after softer-than-expected U.S. inflation raised expectations of an early end to the Federal Reserve’s monetary tightening.

'Investors favoured core all-maturity exposures, both government and corporate.'

₹680.50 apiece, down by ₹26 or 3.68% on NSE. In the early deals, Nazara's stock did tumble by at least ₹100.25 or 14.2% by hitting an intraday low of ₹606.25 apiece. That being said, Nazara's stock has recovered major losses that were recorded in the early trade of Wednesday.