International Financial News

The European Commission is asking three of the world’s biggest pornography sites to provide details of the measures they have taken to better protect minors from accessing their content and prevent gender-based violence

Amit Shah and former Telangana governor Tamilisai Soundararajan went viral on Wednesday, sparking speculation about a potential rift within the Tamil Nadu BJP. In the video, Shah is seen wagging his finger while speaking to Tamilisai during the swearing-in ceremony of new Andhra Pradesh Chief Minister Chandrababu Naidu in Vijayawada.

₹6,588 per barrel on the multi commodity exchange (MCX). -The US Labor Department said the producer price index (PPI) for final demand dropped 0.2 per cent last month. Separate data showed weekly initial jobless claims exceeded estimates for a 10-month high.-The US Fed held interest rates steady on and pushed out the start of policy easing to as late as December.

(Bloomberg) — A giant state-owned Chinese commodities trader is nursing losses after a shipment of copper from Russia worth nearly $20 million went missing, reigniting fears over fraud in the often secretive market for buying and selling raw materials.

Giorgia Meloni greeted European Commission President Ursula von der Leyen and German Chancellor Olaf Scholz with a 'Namaste' at the G7 Summit in Italy. The traditional Indian greeting, symbolizing respect and mutual recognition, highlighted solidarity among the world leaders. The video of this greeting quickly went viral, evoking reactions from netizens, including one who commented, «Namaste karna sikh gai (learnt how to do Namaste).»

Tata Motors' electric vehicles, the Tata Nexon EV and Tata Punch EV, have received five-star safety ratings in the latest Bharat NCAP crash tests. These electric SUVs excelled in both the adult and child occupant safety categories, adding to their appeal as safe and reliable choices for consumers.

The heads of the Group of 7 nations — Britain, Canada, France, Germany, Italy, Japan and the United States — started their annual summit Thursday at a luxury hotel in Puglia on the southern Italian coast, overlooking the Adriatic Sea. The wars in Ukraine and the Gaza Strip and the threats posed by China's economic rise are high on the agenda.

National Company Law Tribunal (NCLT) will hear the plea of Hinduja Group firm IIHL for extension of deadline for completing Reliance Capital's resolution on June 20. IndusInd International Holdings Ltd (IIHL) is the successful bidder for the resolution of debt-ridden Reliance Capital, the financial services arm of Anil Ambani Group. The National Company Law Tribunal Mumbai bench on February 27, 2024 approved the Rs 9,650-crore resolution plan for Reliance Capital and fixed May 27, 2024 as deadline for completion. IIHL has moved NCLT seeking a 90-day extension beyond the deadline to implement the resolution plan.

acquisition of Penna Cement will be funded through internal accruals. In its edition dated June 13, ET reported that the Adani Group is in talks to acquire Penna Cement. The Group is also evaluating other cement companies for acquisition including Gujarat-headquartered Saurashtra Cement and the cement business of Jaiprakash Associates as well as ABG Shipyard-owned Vadraj Cement.

Italy to attend an Outreach session at the G7 summit, Prime Minister Narendra Modi on Thursday said its focus would be on artificial intelligence, energy, Africa, and the Mediterranean. Modi said this in a departure statement before leaving for the European nation in his first foreign trip after becoming prime minister for a third term. The prime minister said issues crucial for the Global South will also be deliberated upon at the Outreach session. The G7 summit, to be held in the luxury resort of Borgo Egnazia in Italy's Apulia region from June 13 to 15, is expected to be dominated by the raging war in Ukraine and the conflict in Gaza.

Oil prices slipped on Thursday as investors digested that the U.S. Federal Reserve had likely pushed back an interest rate cut to December and as U.S. crude and fuel stocks rose. Brent crude futures fell 60 cents, or 0.7%, to $82 a barrel by 1207 GMT. West Texas Intermediate (WTI) U.S. crude futures fell 68 cents, or 0.9%, to $77.82. Both benchmarks had gained nearly 1% in the previous session.

Waddington joins from UBS, where she served as the CFO for the group's UK Credit Suisse entities, as well as COO for Credit Suisse International. She started at Credit Suisse in October 2016 as the UK and EMEA CFO, holding that position until November 2023. Prior to that, she worked in various senior roles at Barclays Capital, NatWest and Deutsche Bank. «I am delighted to announce the appointment of Caroline Waddington as SJP's next chief financial officer,» said Paul Manduca, chair of SJP. «Caroline is highly experienced and has proven financial services expertise that she has develo...

Artificial intelligence is pushing chief information officers closer to the corner office than ever before. More CIOs are reporting directly to their chief executives, rather than chief financial officers, a reflection of the role’s increased importance in helping set corporate AI strategies to keep up with the competition. CIOs have traditionally managed information-technology systems like data centers, cloud computing and business software, but must also now modernize IT and data systems to take advantage of generative AI—or even set the AI game plan.

Power and Instrumentation(Gujarat)Ltd.(up 5.00%), RattanIndia Power Ltd.(up 4.99%), KEC International Ltd.(up 4.93%), Neueon Towers Ltd.(up 4.75%), GE T&D India Ltd.(up 4.61%), Indowind Energy Ltd.(up 3.39%), Hitachi Energy India Ltd.(up 3.26%), Jaiprakash Power Ventures Ltd.(up 1.87%), JSW Energy Ltd.(up 1.42%) and Gujarat Industries Power Company Ltd.(up 1.20%) stood among the top gainers.

Japan has launched a new ETF on Nifty50, which will be an addition to the four passive funds that track the headline index, NSE CEO Ashish Chauhan said on Thursday. “Happy to share that Blackrock Japan has launched an ETF on Nifty 50 in the month of June 2024. In the current Financial year, already four new passive funds tracking Nifty indices launched in international markets (3 in Japan and 1 in South Korea),” Chauhan said. In 2023, seven passive funds were launched in Japan and South Korea which tracked Nifty indices. Six of these seven passive funds tracked Nifty 50, while one tracked the Nifty50 2x leverage index.

Indian listed companies to say the least. The BSE Sensex saw an incredible rise of about 24%, outperforming past performance. In addition, a cohort of companies have been buzzing in the market due to their turnaround stories.

Read here: Indian stock market ready for a dream run, target Nifty 50 at 25,816, says PL; bullish on Auto, Banks, Defence, FMCG In its High Conviction Picks, Prabhudas Lilladher’s top largecap stock picks include HDFC Bank, ICICI Bank, ITC, Larsen & Toubro, Max Healthcare Institute, Maruti Suzuki, Reliance Industries and Siemens.Here are top largecap stock picks by Prabhudas Lilladher:Prabhudas Lilladher believes replacement of HDFC’s liabilities over FY24-26E should lead to improving margins and better net profit CAGR. It has a ‘Buy’ rating on HDFC Bank shares with a target price of ₹2,000 apiece.The brokerage firm has maintained a ‘Buy’ rating and increased ICICI Bank share price target to ₹1,450 from ₹1,300 earlier.Also Read: Turnaround stocks to 2024: Top 5 shares that are potential multibaggersITC’s cigarette volumes rose 2.1% in Q4FY24 and the broking house expects returns to be driven by cigarette volume numbers and budget outcome in July while FMCG will continue to expand margins by 80 - 100 bps annually.

Elon Musk's SpaceX sued the company and Musk on Wednesday, alleging they were «wrongfully fired» for raising concerns about "sexual harassment" and "discrimination" in the workplace, reported the New York Times. The employees were terminated in 2022 after circulating an open letter urging SpaceX executives to condemn Musk's comments on Twitter, later renamed X, which they deemed «a frequent source of distraction and embarrassment.»

Bank Nifty was up by 64.05(0.13%) at 13 Jun 2024 10:44:56 IST.Other stocks such as Sanofi India, Semac Consultants, Shubhlaxmi Jewel Art, Osia Hyper Retail hit their fresh 52 wk lows today.

Mint in an interview. “We have launched one product, particularly for background verification. The first few clients have been on the financial services side, the next set of clients would be on the commerce side, where conversations are happening." In a recent report, investors at venture capital firm Bessemer Venture Partners, which has invested in Perfios, highlighted the increasing adoption of cloud-based SaaS platforms by banks and non-bank lenders for various use cases, including fraud detection, wealth management, customer engagement, and KYC, among others.

Mondelez has partnered Belgian biscuit maker Lotus Bakeries to make, sell and market the latter's flagship brand Biscoff in India.