International Financial News

Netflix will start streaming NFL games this year as the OTT streaming giant is making foray into live broadcasting of sporting events. Earlier, Netflix had inked a deal with WWE Monday Night Raw. Netflix will live stream NFL games scheduled to be played on Christmas day 2024 along with holiday matches in 2025 and 2026.

tax on domestically produced crude to Rs 5,700 per tonne from earlier Rs 8,400 per tonne. The export duty on petrol diesel and aviation turbine fuel (ATF) will continue to be nil. The new rates will be effective May 16 2024, Central Board of Indirect Taxes and Customs ( CBIC) said in a late night notification Wednesday.

Jindal Stainless Ltd (JSL), the Abhudhay Jindal-led company on Wednesday, reported a 30% year-on-year (y-o-y) fall in consolidated net profit to ₹501 crore in the March quarter owing to compromised margins amid falling nickel prices and increasing shipping costs in light of the ongoing Red Sea Crisis. The company's consolidated net revenue stood at ₹9,454 crore, a 3% y-o-y fall from ₹9,765 crore during Q4FY23. The results missed Bloomberg analyst estimates of ₹9,605.2 crore and ₹577.50 crore for revenue and net profit, respectively.

Crude prices slid about 1% to an 11-week low on Wednesday after data from the International Energy Agency (IEA) showed oil demand in developed countries likely would flag this year. Brent futures fell 62 cents, or 0.8%, to $81.76 a barrel by 10:59 a.m. EDT (1459 GMT), while U.S. West Texas Intermediate (WTI) crude fell 60 cents, or 0.8%, to $77.42. That pushed both crude benchmarks into technically oversold territory and put both on track for their lowest closes since Feb. 23.

iPadOS rollout on the newly released devices, a Battery Health menu has been integrated, enabling users to assess their battery's maximum capacity without the need for third-party applications like CoconutBattery. Additionally, in a move reminiscent of the iPhone 15 series, these cutting-edge iPads offer the ability to limit charging to 80 percent, a measure aimed at extending the lifespan of the internal battery, as reported by 9to5Mac.

Innov8, a leading coworking startup, has announced the launch of its newest center in the prime Aerocity area of Delhi. The facility spans 9,500 sq ft, 217 seats, and 4+ conference and meeting rooms.

Are you a frequent traveler and looking for a credit card with exclusive features and benefits on international travel? It’s a good idea to go for a card that offers complimentary domestic and international lounge access, rewards on flight ticket bookings, low forex markup fee and discount on hotel bookings, among other benefits.

DSP Mutual Fund on May 15 announced the launch of DSP Nifty Bank Index Fund, an open-ended scheme tracking Nifty Bank Index. The fund will offer an opportunity to invest in banking stocks at reasonable valuations.

HDFC Bank has launched a new virtual credit card called ‘PIXEL’. The card will come in two variants – PIXEL Play and PIXEL Go. PIXEL signifies HDFC Bank’s debut in an end-to-end mobile app-based customizable credit card range.

IPL 2024 SRH vs GT: High-flying Sunrisers Hyderabad (SRH) will take on Gujarat Titans (GT) at the Rajiv Gandhi International Cricket Stadium in Hyderabad on May 16 tomorrow. As per the weekday IPL tradition, it will be an evening match and it will commence at 7.30 pm. While Pat Cummins-led SRH have won seven games out of 12 played so far, GT are out of the playoff race due to Motera washout. This match will be very important for the SRH as those precious two points will help them in qualifying for the playoffs and seal the spot after KKR and RR. If one looks at Shubman Gill-led GT’s 2024 campaign, they posted wins in five out of 12 games that they played. Though they could have a shot at playoff had the Ahmedabad match was not abandoned. AT present, they have eight points in their kitty.

international student numbers or some universities may collapse, a government commissioned report said on Tuesday, after foreign registrations plummeted for next year. High levels of legal migration have long dominated Britain's political discourse and were one of the major drivers for the Brexit referendum in 2016. Are you immigration ready? Find out Along with care staff and low salaried workers, the government of Prime Minister Rishi Sunak has sought to reduce the number of students coming to Britain, including preventing some post-graduate students from bringing family members.

China will allow visa-free entry for foreign tour groups that come to the country via cruise ships in a further bid to attract international visitors and boost its sluggish inbound travel market. Overseas tour groups on cruise boats will be able to enter and stay in China without a visa for up to 15 days, according to the National Immigration Administration. The new policy will be effective from May 15. Tour groups can enter China from 13 ports including Shanghai, Qingdao, Dalian and Haikou, Mao Xu, a senior official with the immigration administration, said at a press conference in Beijing on Wednesday. Qualifying tour groups need to be received and handled by domestic travel agencies and will be allowed to travel to coastal provinces as well as the capital, Beijing, while they are in China, Mao said.

Motilal Oswal Financial Services. KFC and Pizza Hut – Devyani's mainstays in India, accounting for more than 60% of total revenue – continued to struggle in Q4 amid lower disposable incomes, weak consumer sentiment, and increased competition for Pizza Hut. Same-store sales growth, a key measure of comparable sales, paints a concerning picture.

Aarti Industriesshare price declined more than 5% in intraday trades on Wednesday while Gujarat Fluorochemicals share price declined more than 2%. Share prices of PI Industries and Navin Fluorine International also saw intraday corrections of more than 1% hile global concerns persist, positive is that UBS Research has initiated coverage on these chemical companies with a positive view on the sector. While they remain Bullish on PI Industries Ltd and Navin Fluorine International Limited, though they have sell ratings of Aarti industries and Gujarat Fluorochemicals.

₹150.85 per share on May 15, versus the previous close of ₹156.90 on Tuesday. The stock's decline was triggered by the company's announcement of a net loss of ₹49 crore for the March quarter of the financial year FY24. In the corresponding quarter of the previous year, the company had recorded a profit of ₹60 crore, whereas in the December quarter of FY24, the company's profit amounted to ₹5 crore.

₹996.65 apiece on Wednesday. Earlier this week, the company reported a 14% quarter-on-quarter drop in its consolidated Ebitda (earnings before interest, tax, depreciation, and amortization) to ₹2,444 crore during the three months ended March (Q4FY24). A decline in steel prices and an increase in some cost items weighed on profitability despite higher volumes.

US district court has approved a stipulated dismissal agreement that lifts sanctions on more than 90 foreign nationals, many of whom are Indian, who were previously denied re-entry to the US or deemed ineligible for visas due to their association with an Optional Practical Training (OPT) fraud committed by their former employers. These students, who were victimized by fraudulent OPT employers, had faced severe repercussions, including being denied entry into the US and visa ineligibility. One affected individual from Chennai recounted being turned away by US customs officials after a brief vacation, simply because he had briefly worked for a blacklisted company certified for conducting OPT. Jesse Bless, an attorney representing the plaintiffs, told TOI's Lubna Kably that after extensive negotiations, the US Department of Homeland Security (DHS) agreed to review its records and confirmed that these former students are neither inadmissible to the US nor ineligible for visas solely based on their employment with fraudulent OPT companies. «With the inadmissibility lifted, these plaintiffs have now regained another opportunity to live and work in the United States,» Bless said.

banana peel that Indian banks were slipping on, recalling that in 2020, RBI had put restrictions on HDFC Bank for technological inadequacies. Another article about the cost of digital banking, while failing to highlight its significant benefits in reducing transaction costs and enhancing financial inclusion, quoted various bankers who put the technology spend of banks at around 10% of their overall expenses.

₹1,176.59 crore from anchor investors on Tuesday, May 14. The company issued 4,32,57,009 equity shares to anchor investors at a price of ₹272 per share, as per the exchange filing.

Mint takes a closer look at what it means for India. India and Iran signed a long-term contract for the development of Chabahar Port during shipping minister Sarbananda Sonowal’s visit to Iran. Signed by Indian Ports Global Limited (IPGL) and the Port & Maritime Organisation of Iran, the agreement allows the Shahid Beheshti terminal at Chabahar Port to operate for 10 years.

ArcelorMittal Nippon Steel (AM/NS) India, a prominent steel manufacturer with an integrated steel plant at Hazira in Gujarat. “The apprehension is that other mills from FTA countries and China may also get a renewal of their licences for exporting to India," analysts at market intelligence & consulting firm BigMint said, adding that this was a worrisome factor for Indian mills. AM/NS’s Dhar added that with India now available as an option, Vietnamese steelmakers will see the country as a lucrative avenue to dump excess production.