Extreme Financial News

Incessant rain has triggered a landslide in Keonjhar district of Odisha on 2 August. In view of heavy rainfall, all the Schools and Anganwadi centers of Keonjhar district will remain close today. Apart from this, schools in Balagir, Kalahandi, Dhenkanal, Balasore will remain closed today.

Fitch cuts US credit rating to AA+ from AAA after debt limit standoffs; White House “strongly disagrees" In simple terms, credit rating shows the creditworthiness of an individual, company, or government. Different rating agencies follow different practices for assigning ratings. As per experts, for Fitch Ratings, 'AAA' rating is the best and 'AA+' is high-quality.

«The maximum (amount) of rainfall recorded during this storm, which was 744.8 millimetres, occurred at the Wangjiayuan Reservoir in Changping,» the Beijing Meteorological Service said. It was the «heaviest rainfall in 140 years», when Beijing records began, it added. The largest volume previously recorded was 609 millimetres in 1891, the service added.Storm Doksuri, a former super typhoon, swept northwards over China after hitting southern Fujian province last week, following its battering of the Philippines.

MUMBAI — Baroda BNP Paribas Mutual Fund is unperturbed by the rally in domestic equities and believes that mid-teen returns are likely over the next 1 year given the strong fundamentals. Asked about how the fund aims to generate alpha returns for its investors, Jitendra Sriram, a senior fund manager at the asset management firm, shared the “BMV” metric adopted by the company in its hybrid fund to achieve the same.

India Meteorological Department (IMD) predicted heavy rainfall in several parts of Odisha for the next two days and also issued an advisory to fishermen not to venture into the sea, said an IMD official on Wednesday. While speaking to ANI, IMD scientist HR Biswas said, «Several districts are likely to receive extremely heavy rainfall in the next 2 days.

Independence Day, August 15, in Delhi but the use of Chinese manjha causes many accidents every year, as per ANI reports. “Since January 10, 2017, the use and sale of Chinese Manjha have been prohibited in the capital city of Delhi. Despite this, some kite flyers utilize it every year on August 15, as a result, a lot of animals and birds get trapped in the manjha," the minister reminded.

A nonprofit organization that researches links between social media, hate and extremism has been sued by X, the social media platform formerly known as Twitter

hurricane season in the Atlantic typically gains momentum. Historically, the three most active months for hurricanes in the region are August, September, and October, spanning from June to November. American Forecasters have expressed confidence in the likelihood of an unusually busy hurricane season this year. The CSU team predicted a «borderline hyperactive» season with up to nine hurricanes forming in the Atlantic basin during 2023. This upgrade was primarily attributed to the presence of extremely warm ocean waters, a favorable environment for storm formation, which could counteract the suppressing effects of El Niño, as per USA Today. As we delve deeper into August, meteorologists using weather forecasting models have noticed a potential increase in the necessary ingredients for storm development. The first two months of this season have already been quite active, with five storms and one hurricane reported by the end of July. This ranks as the fourth-most active start of any season since 1851. Fortunately, the United States has not faced any significant threats from tropical storms or hurricanes so far. June saw notable activity with three named storms, including Arlene, which brought some rain to South Florida after forming in the Gulf of Mexico. Additionally, two storms, Bret and Cindy, formed in the «main development region,» an unusual occurrence for June. This region in the Atlantic is known for generating many significant storms, especially during the peak of the season. However, neither Bret nor Cindy had any impact on the US. In July, there was a lull in storm activity, with only one named storm, Don, which briefly reached hurricane status in the open Atlantic.

NEW DELHI : Milk prices in India have surged 22% in three years, including 10% in the past year. According to Parshottam Rupala, Union minister for fisheries, animal husbandry, and dairying, prices of green fodder are declining, and milk prices are expected to stabilize after monsoon as fodder turns plentiful. In an interview, Rupala said while extreme weather conditions can damage crops, there is currently no alarming feed shortage, and in the unlikely situation of a shortage, states have reserves to fill the supply gap.

NEW DELHI : Cargos and containers full of rice are lying at Indian ports, unshipped after the government announced export restrictions with immediate effect last month. Though most cargos had obtained customs clearance before the directorate general of foreign trade put out the notification banning white rice exports on the evening of 20 July, as much as 200,000 tonnes of the grain are still lying at ports, including 5,000 tonnes at Syama Prasad Mookerjee Port in Kolkata.

The India Meteorological Department (IMD) has issued a red alert for West Bengal and Odisha till Wednesday as it expects over 204.4 mm rainfall in these regions. Red alert indicates ‘take action’.

“Bullish measures are getting really bullish.”

By Kannaki Deka

Zomato, recently shared a peep into his fitness journey in an Instagram post. In his post on Monday, the Zomato CEO showcased the difference in his health through a before and after picture from 2019 and 2023. In the caption of the picture Goyal said a few months before the Covid pandemic in 2019, he started treating his health as an equal priority to his work.

However, both the movies have created an uproar in Japan, all thanks to a meme. The Japanese chapter of Warner Bros condemned the ‘Barbenheimer’ meme and demanded the producers of both films to apologise. The meme is a viral fan-made poster shared by a film discussion Twitter account @DiscussionFilm.

EV startup, Exponent Energy has showcased its proprietary energy stack — battery pack, charging station and charging connector — that together claims to offer 15-minute rapid charge. Exponent claimed that EVs powered by its stack are 30% more affordable due to optimised battery capacity which are 30% smaller, and 5 year financing (powered by 3000 cycle life warranty). Additionally, the company claimed, 15-minute rapid charging reduces EV charging cost by 33%. “At Exponent, we’re building the future of energy that combines cutting-edge engineering with real world economics, and our off-board thermal management system is a testament to that belief. For everyone to go electric, consumers need EVs that charge faster, last longer, and cost lesser. Our unique twosided approach to 15-minute rapid charging makes EVs last 3 times longer and cost 30% less than conventional EVs," said Arun Vinayak, CEO and Co-founder, Exponent Energy.

Riemann Labs, a manufacturer linked to cough syrup deaths in Cameroon, to stop manufacturing activities, said Reuters quoting the country's health ministry. Last month, the World Health Organization said a batch of cough and cold syrup sold in Cameroon under the brand name Naturcold contained extremely high levels of a toxic ingredient, the latest in a series of recent warnings about contaminated cough syrups.

power consumption grew by 8.4 per cent to 139 billion units in July this year compared to the same month last year. In the year-ago period, power consumption stood at 128.25 billion units (BU), higher than 123.72 BU in July 2021, according to the government data. The peak power demand met, which is the highest supply in a day, rose to 208.82 GW in July 2023.

I have been investing varying amounts in seven different mutual fund schemes. Here are the details of my investments:Quant Tax Plan: Rs. 3500 per month Quant Small Cap Fund: Rs 2500 per monthMirae Asset Tax Saver Fund: Rs 2000 per month UTI Small Cap Fund: Rs 2000 per month Axis Small Cap Fund: Rs 1000 per monthAxis Long Term Equity Fund :Rs 500 per month Tata Small Cap Fund: Rs 1000 per month (started this month) Do I need to modify any of these investments? If yes, what adjustments would you suggest? Also, I'm looking to increase my SIP contribution by Rs 2,000 per month. Given my current portfolio and your understanding of the market, could you provide some suggestions on where this additional investment should be allocated? --Raghav Kapoor You are investing in three tax saving schemes and four small cap schemes. Investing a small amount in too many schemes doesn’t offer you the benefits of optimal diversification or maximise returns. Adding too many schemes often results in duplication of portfolios and over diversification. It also dilutes the overall returns.

«From a longer term perspective I think there is a larger degree of comfort. So for investors like us who tend to think in terms of three and five years when we look at buying a stock we find enough opportunities where valuation is not really a concern,» says Anthony Heredia, MD & CEO, Mahindra Manulife Investment Management.Let me start our discussion with the broad view on the market because market seems to be getting pretty divided on where the valuations are right now. What phase of the market cycle are we right now, some are saying mildly profit, others are saying long way to go, where do you stand on valuations?I think our view would be that it is a long way to go if you have a long time frame in mind right.

MPs have given notices under Rule 267. The Chair categorically stated that 267 discussion can happen only under the rarest of rare circumstances. I want to ask the BJP government that isn't it the rarest of rare case?" says Shiv Sena (UBT) leader The stalemate in Parliament continues as both sides have taken a rigid stand on Manipur.