International Financial News

Stocks that traded heavily or had substantial price changes on Thursday: Costco, Delta Air Lines fall; QuantumScape, MicroStrategy rise

A pair of government regulators slapped Citigroup with a $135.6 million fine on Wednesday, saying the bank has made insufficient progress in resolving longstanding internal control and risk issues

Marico Ltd.(up 4.22%), Jyothy Labs Ltd.(up 4.13%), Godrej Consumer Products Ltd.(up 3.80%), Emami Ltd.(up 3.50%), Bajaj Consumer Care Ltd.(up 2.85%), Dabur India Ltd.(up 2.81%), Gillette India Ltd.(up 2.59%), Adani Wilmar Ltd.(up 1.93%), Hindustan Unilever Ltd.(up 1.58%) and Procter & Gamble Hygiene & Healthcare Ltd.(up 1.37%) stood among the top gainers.

Tools For Humanity, the operator of Worldcoin (WLD), will change the way it collects data in Chile after legal challenges.

Radhika Merchant, who tied the knot with Reliance Industries Chairman Mukesh Ambani's youngest son, Anant Ambani, on Friday, once again captivated onlookers with her impeccable style and grace during her Vidai ceremony. The newlywed, who initially donned a traditional ivory and red lehenga by Abu Jani Sandeep Khosla for her wedding, chose a striking sindoori red ensemble designed by Manish Malhotra for her emotional farewell. Styled by Rhea Kapoor, Radhika's vidai look featured a bespoke couture lehenga adorned with intricate details and rich textiles. The ensemble included a backless blouse embellished with real gold Karchobi work, reflecting traditional Gujarati artistry. The brocade silk lehenga skirt, featuring Banarasi brocade print in sunset hues, exuded timeless elegance and cultural homage.

China has added Shanghai to a list of top-tier cities allowing the use of driverless robotaxis in which no safety supervisors are present, part of the country’s efforts to take the global lead in autonomous driving and commercialize the technology. Shanghai officials said over the weekend that in parts of the city, residents can now book free rides in robotaxis of four companies—internet search giant Baidu, SAIC Motor-owned Saike Technology and self-driving startups Pony.ai and Auto X. The taxis are driverless and don’t have supervisors physically present in the car, with the companies approved to offer services through Jan.

Hum Saath Saath Hain. “Growing up, I never had any ambition to pursue entrepreneurship. One didn’t even know what such a life entailed.

Republicans will gather for their convention in Milwaukee next week united behind presidential candidate Donald Trump but divided on what the party stands for. There are, of course, widely aired disagreements over abortion and the war in Ukraine. But a potentially more consequential division has opened over economics.

Producer Price Index (PPI) to efficiently capture input prices in the economy and has shared it with the IMF, the Department of Promotion of Industry and Internal Trade (DPIIT) secretary Rajesh Kumar Singh said on Thursday. He also said the government is working towards changing the base year of the wholesale price index (WPI) from 2011-12 at present. India is planning to move from the WPI to PPI going ahead in sync with most G20 economies. Consultations with the ministry of statistic and programme implementation (MoSPI) have been done. “It has to go through a process, including National Statistical Commission (NSC) but we are on the job…The model from our side is final and we have shown it to the IMF,” Singh said.

Gautam Gambhir has been appointed as the new Head Coach of the Indian Cricket Team, according to a statement by BCCI Secretary Jay Shah on social media platform X. Shah expressed confidence in Gambhir's ability to lead Team India forward, citing his deep understanding of modern cricket dynamics and his successful career across various roles. Following the announcement, Gautam Gambhir also posted on social media, «India is my identity and serving my country has been the greatest privilege of my life. I’m honoured to be back, albeit wearing a different hat. But my goal is the same as it has always been, to make every Indian proud. The men in blue shoulder the dreams of 1.4 billion Indians and I will do everything in my power to make these dreams come true!»

Rail Vikas Nigam (RVNL) and Indian Railway Finance Corporation (IRFC) rallied 15.5% and 9% to their new all-time highs of Rs 567 and Rs 206 respectively on BSE in Monday's trade ahead of the Union Budget, where the focus is likely to be on infrastructure investment. The sentiment around RVNL also remains positive as in the last week, the company signed a Memorandum of Understanding (MoU) with Delhi Metro Rail Corporation (DMRC) for participation in upcoming projects in India and abroad.

Fleabag breaks out and conquers the world, there’s an embarrassment of riches to be unearthed on BBC’s iPlayer, a streaming service to love. However, for international viewers, the iPlayer has long been viewable only by using a VPN and pretending you’re in England — until now. Amazon Prime Video in India now offers a specific “BBC Player" bundle which is a ₹599 add-on service that adds a bunch of BBC shows to your existing Prime Video subscription.

Dmitry Medvedev said that the US believed it had won the cold war but in reality, had failed to do so. Further, he said that the US is now one step away from losing it completely. In the past, he has threatened Russia’s opponents that the county will use its nuclear arsenal. He was largely seen as liberal in the western circles in comparison to President Vladimir Putin, but his stance changed after the onset of the Russia-Ukraine war. He is presently the deputy chair of Russia’s Security Council. This has been reported by the Business Insider.

Dozens of classic sailing vessels from 13 countries that are plying the Baltic Sea have arrived in the Finnish capital at the end of the first leg of the Tall Ships Races that began in the Lithuanian port city of Klaipeda in late June

Amazon warehouse and delivery workers in India are enduring intense pressure and unsafe conditions while struggling to support themselves with insufficient pay, the UNI Global Union said on Wednesday. “Four out of five warehouse workers reported that the targets set by Amazon are difficult or very difficult to achieve and only 21.3% of warehouse workers and drivers believe the work environment at Amazon is safe,” it said in its report published in partnership with the Amazon India Workers Association (AIWA) and based on the survey responses of 1,838 participants or Amazon employees in India. Commissioned by UNI Global Union and conducted by Jarrow Insights over 50 days from February 2 to March 22, 2024, the survey used both on-site and digital methods to ensure a representative sample of Amazon’s workforce in India.

IIM Shillong and the Asian Institute of Technology (AIT), Thailand with an aim to foster collaboration between the two institutions, enhancing academic and cultural exchanges through mutual support, specifically focusing on teaching and research endeavour. The signing ceremony was attended by Prof. D.P. Goyal, Director of IIM Shillong, and Prof. Nitin K. Tripathi, Acting Vice President for Academic Affairs at AIT. Other dignitaries from IIM Shillong included Prof. Naliniprabha Tripathy, Dean of External Relations, and Dr. Teidorlang Lyngdoh, Chair of External Relations. AIT was represented by Dr. Roger Levermore, Vice President for Development and Dean of the School of Management (SOM); Dr. Sumana Shrestha, Director of International Affairs at the Office of International and Public Affairs (OIPA); Sanjeet Amatya, Director of Public Affairs at OIPA; and Zia Islam, Executive Assistant to the Dean and Coordinator at the Dean’s Office, SOM.

Anant Ambani and Radhika Merchant sparked a wave of congratulations across the globe. Among the first to join in the celebration was Amul India, which paid a sweet tribute to the newlyweds on social media. The charming post featured a delightful cartoon of the couple sharing slices of bread slathered with Amul butter, aptly dubbing it the 'Ambyaahni wedding' and wishing them a lifetime of happiness with a heartfelt «Jug Jug Jio.» The grand nuptials of Anant Ambani and Radhika Merchant have captivated the world, with digital snapshots flooding social media and Bollywood's elite joining in the revelry. The couple exchanged vows in a ceremony that was nothing short of spectacular, marking the occasion with a series of glittering events that drew the eyes of international stars and Indian luminaries alike.

The development did little to dim the optimism around the nation’s equities, which are the best performers in Asia in dollar terms after rising over 30% this year on support by the International Monetary Fund. The benchmark KSE-100 index rose as much as 0.7% on Thursday to a fresh record.

Budget 2024 later this month, the Department for Promotion of Industry and Internal Trade (DPIIT) has recommended the removal of the contentious Angel Tax for startups ecretary Rajesh Kumar Singh said Thursday. He also said the department has proposed phasing out of the inverted duty structure and high tariff on inputs in sectors such as electronics. Section 56(2) VII B of the Income Tax Act, also known as angel tax, which was introduced in 2012, as an anti-abuse measure aimed at tax avoidance. It’s levied above a rate of 30%. “Based on consultations with the startup ecosystem we had, we have recommended that in the past as well, we have recommended this time also,” Singh said.

Messi and Lamine Yamal both have very important national duties within the next few days, as the finals of Euro Cup 2024 and Copa America 2024 are both happening on Sunday, and their national teams, Argentina and Spain, are both participating in these finals. Both teams will be looking up to both the sensational players as they will be pivotal with their goal-scoring abilities during crucial moments of the high-intensity games.

T20 World Cup-winning skipper Rohit Sharma has penned an emotional farewell note to the team's former head coach Rahul Dravid, expressing «gratitude» for his man-management skills and for leaving his baggage of stardom outside the dressing room. Dravid, following a nearly three-year long stint as head coach, stepped down at the end of India's title-winning T20 World Cup campaign in the West Indies last month. «My wife (Ritika Sajdeh) refers to you as my work wife and I am lucky to get to call you that too,» the current skipper wrote about his first international captain on his Instagram page. Rohit's tribute was also an indicator of how the player-coach equation works in the Indian dressing room.