Reports Financial News

British Airways supervisor believed to be on the run in India after his role in an alleged GBP 3 million visa scam from over five years came to light, according to a UK media report on Tuesday. ‘The Sun' newspaper reports that the unnamed 24-year-old suspect worked at Terminal 5 at Heathrow Airport and is said to have charged customers GBP 25,000 per trip to abuse a loophole and fly them across the British Airways (BA) network without crucial visa documents. British police are now said to be working with their Indian counterparts to try to trace the man, who reportedly vanished with his partner – a BA ground services staffer – after he was arrested on January 6 and released on bail. He is believed to have flown out to India where he has reportedly bought several properties.

logistics startup Shadowfax has raised $100 million in a mix of primary and secondary investments as part of its latest funding round led by growth investor TPG NewQuest. Existing investors including Mirae Asset Management, Flipkart, International Finance Corporation, Nokia Growth Partners, Qualcomm, and Trifecta Capital also participated in the fundraise. The round also includes an element of venture debt.

With clouds looming over the commercial real estate market, sales of non-traded real estate investment trusts started 2024 with a downturn, as widely expected, with last month’s non-traded REIT fundraising and sales by financial advisors down 47% compared to January 2023, according to new research by Robert A. Stanger & Co. Inc., which tracks sales of illiquid alternative assets.

(Reuters) — Henry Schein (NASDAQ:HSIC) forecast 2024 adjusted profit below Wall Street estimates on Tuesday, as the dental products distributor expects the impact from a cyber attack it reported in October to spill into this year.

Bank of Montreal missed analysts’ estimates as it grappled with weak capital-markets revenue and reported an increase in loan-loss provisions.

LONDON (Reuters) — Britain's Currys has received an improved 750 million pound ($951 million) bid from U.S. suitor activist investor Elliot Advisors, Sky News reported on Tuesday, pushing up shares in the British electricals group amid hopes of a takeover battle.

Investing.com — Lowe’s (NYSE:LOW) has reported fourth-quarter net sales that topped Wall Street estimates despite an ongoing slowdown in spending on home improvement projects.

Investing.com -- Futures hover around the flatline on Tuesday after last week's artificial intelligence-powered rally showed signs of slowing in the previous session. Lowe's (NYSE:LOW) is due to report its quarterly earnings, with investors keen to find out how the home improvement retailer is navigating a pullback in spending by inflation-squeezed shoppers. Elsewhere, Bitcoin hits the $57,000 mark and Disney announces a shake-up at its live action movie studios unit.

Senior Citizen Savings Scheme (SCSS) have surged to over two times during the current fiscal. During the same time, mobilisation through the Monthly Income Scheme has risen up by four times, reported Business Line. “As of early February, collection through SCSS was around ₹90,000 crore.

Jairam Thakur said he can see the government has lost the majority in the state. When asked if his party will seek a trust vote, Thakur said, “Budget will be presented tomorrow.

Tribune report, Moosewala’s parents used In Vitro Fertilization (IVF) to get pregnant. Moosewala was murdered on May 29, 2022. Satwinder Singh alias Satinderjit Singh alias Goldy Brar had claimed responsibility for the murder of popular singer Moosewala in Punjab on May 29, 2022.

Muted revenue growth in the December quarter (Q4CY23) has prompted large US banks to slow down their IT-related expenditure. Data compiled by Antique Stock Broking shows that six large US banks' average technology spending growth softened to 5.7% in Q4CY23 from 6.4% in Q3CY23. On an aggregate basis, these banks reported low single-digit revenue growth of 1.8% year-on-year in the quarter, a sharp deceleration from 9% in the previous quarter.

Mark Zuckerberg, who is on a mini-Asia tour, is currently in Japan, exploring the heritage and food of the country. The Meta chief is likely to visit Seoul and attend the pre-wedding celebrations of Anant Ambani, the youngest son of Mukesh Ambani, in Gujarat’s Jamnagar. “Mark is in Japan for a personal trip and will also meet with a few key partners while he is here," Bloomberg quoted Meta Platforms' spokesperson as saying.

Arbor Financial President Jeffrey Small argues that the ‘Magnificent Seven’ stocks will repeat their 2023 run in 2024 during an appearance on ‘Varney & Co.’

While the Nifty ended at 22,198, gaining 76.30 points or 0.34%, the 30-stock S&P BSE Sensex closed the session at 73,095, up by 305 points or 0.42%.

FIR has been registered against the JD(S) leader contesting the Rajya Sabha elections in Karnataka, D Kupendra Reddy, and his aides at the Vidhana Soudha police station in Bengaluru, former chief minister H D Kumaraswamy said on Tuesday. Karnataka Chief Minister Siddaramaiah too confirmed that an FIR has been registered for «threatening» the Congress MLAs in connection with the Rajya Sabha elections. «The Congress leaders not only spoke about allurement and threat to their MLAs time and again but also registered an FIR against Kupendra Reddy and his aides,» the JD(S) second-in-command told reporters here. Kumaraswamy said the complainant MLA did not say that he was lured, but that some other MLAs were «approached». «Melukote MLA Darshan Puttannaiah of Karnataka Sarvodaya Paksha too had said that it's true that his vote was sought but no one had lured him,» the JD(S) state chief claimed. Kumaraswamy also said the BJP and JD(S) had decided that the votes of its 19 JD(S) MLAs and the additional BJP votes after its first preferential votes would go to Kupendra Reddy. Siddaramaiah slammed the Janata Dal (Secular) for allegedly trying to lure Congress legislators to get its candidate Kupendra Reddy elected.

Zerodha's CEO Nithin Kamath revealed on Monday that he experienced a «mild stroke» six weeks ago. He attributed the stroke to a combination of factors including the recent passing of his father, poor sleep, exhaustion, dehydration, and excessive exercise. The revelation by 44-year-old Kamath, who is a fitness enthusiast, has reignited debate about work-life balance. Kamath noticed symptoms such as facial drooping and difficulty with reading and writing. He anticipates a full recovery within 3-6 months. After the mild stroke, Nithin Kamath said he wondered «why a person who's fit and takes care of himself could be affected». Zerodha cofounder said that his doctor «said you need to know when you need to shift the gears down a bit.» Noting that Nithin Kamath is one of the «fittest persons», Hyderabad-based neurologist Dr Sudhir Kumar said the Zerodha founder has rightly has rightly recognized five likely risk factors that could have caused his stroke: Stress (of losing his father), sleep deprivation, over-exercising (over-working out), exhaustion (related to work commitments and workouts) and dehydration.

VOC Port at Tuticorin in Tamil Nadu will become India's first green hydrogen hub as it will develop an ecosystem of green ports and also emerge as a transshipment hub when Prime Minister Narendra Modi launches numerous initiatives on February 28, Union Minister Sarbananda Sonowal said on Tuesday. Also, Chennai would become the gateway to the Eastern Maritime Corridor to Vladivostok, Russia, and further increase the bilateral trade between the two countries, he said. «Tomorrow PM Modi will lay the foundation stone, inaugurate, and dedicate to the nation 36 transformative projects worth over Rs 17,000 crore. This is a step towards Viksit Bharat @2047,» Sonowal told reporters here. About 30 projects under his Ministry of Ports, Shipping and Waterways worth Rs 10,324 crore would be inaugurated, foundation laid or dedicated by the prime minister, he said. Of these, six projects worth Rs 7,587 crore are only in the two ports in Tamil Nadu.

CBI director to file a status report in the Embraer aircraft deal corruption case, noting the probe is not complete even after seven years and no purpose will be served to proceed with the trial with a «half-baked case». The agency had filed a charge sheet against arms dealers Arvind Khanna, advocate Gautam Khaitan and businessman Anup Gupta on June 1 last year in the corruption case where kickbacks to the tune of USD 5.76 million were allegedly paid to swing a three-aircraft deal with the DRDO in favour of the Brazilian firm. The court had taken cognisance of the charges against the accused last year, but the trial could not proceed because the CBI did not apprise the court of how much more time was required to conclude the investigation. Underlining that the investigation is not complete even after seven years of registering the case, special judge Gaurav Rao said, «Let a detailed report be filed by the IO (Investigating Officer), duly forwarded by the Director CBI, as to how much time he requires to conclude the investigation as the reports already filed so far are almost verbatim of the previous reports.»

Investing.com — Workday (NASDAQ:WDAY) reported better-than-expected fourth-quarter earnings and detailed plans to acquire human resources group HiredScore in a bid to boost to its artificial intelligence capabilities. 

Investing.com — Zoom Video Communications (NASDAQ:ZM) has reported fourth-quarter results that beat Wall Street estimates thanks to solid demand for its products during a time of increased hybrid working habits.