Reports Financial News

DLF Ltd’s Emporio mall in Delhi in 2025. Last week, France’s SMCP, the parent company of accessible luxury brands Sandro, Maje, Claudie Pierlot and Fursac, also announced its entry into the Indian market in partnership with Reliance Industries-owned Reliance Brands Ltd (RBL). In a sign of growing appetite for luxury goods in India, Emporio is looking to add new outlets and is in talks with multiple European brands.

Bank of Baroda (BoB) is trying to trace the paper trail behind a recent scandal where some employees allegedly created false app sign-ups using random mobile phone numbers, two officials at the state-owned lender said. The bank has asked branches to produce customer consent and registration forms for signing up on the bob World app and changing mobile numbers. Branches have been told to upload the forms on an internal portal in the next few days, while regional offices have held virtual meetings with branches to highlight the urgency of the matter, the people cited above said on the condition of anonymity.

New Delhi: The stock market regulator has issued show-cause notices to about a dozen foreign investors that owned big chunks of Adani group companies as it seeks to lift the veil on their true ownership, two people aware of the matter said. The notices charge the investors with failing to maintain and disclose information about their ultimate beneficiaries. The Securities and Exchange Board of India’s (Sebi) notices to the foreign portfolio investors (FPIs) follow its investigations after US short-seller Hindenburg Research highlighted them in a damning report released in January.

RBI) Governor Shaktikanta Das will unveil the fifth monetary policy of the financial year 2023-24 on Friday, December 8, after a two-day review, as it observes the impact of global headwinds on India's macroeconomic indicators such as inflation trajectory and growth in gross domestic product (GDP). The review by the six-member Monetary Policy Committee (MPC) led by Das will likely indicate the course RBI will adopt in the remainder of the financial year as it seeks to strike a fine balance between sustaining growth and bringing inflation under the 4 per cent target amid high food prices.

Investing.com — Stock futures were largely unmoved on Wednesday night, after major benchmark averages closed with mixed performance with both the S&P 500 and the Dow Jones Industrial Average extending losses for the third consecutive session. By 6:20 pm ET (11:20 pm GMT) Dow Jones Futures, S&P 500 Futures and Nasdaq 100 Futures moved less than 0.1% apiece. In the after-hours trading, GameStop Corp (NYSE:GME) traded 2% lower after the company reported EPS of $0.00 versus expected losses of $0.08 per share, while revenues came in at $1.08 billion versus $1.18 billion expected.

By David Shepardson

Chewy (NYSE:CHWY) shares fell more than 9% after-hours today following the company’s reported Q3 results, with revenue of $2.74 billion coming in below the consensus estimate of $2.76B. Q3 EPS was $0.15, compared to the consensus estimate of ($0.06).

By Noel Randewich and Amruta Khandekar

Investing.com — The dow closed lower on Wednesday, extending its sluggish start this week even as further signs of slowing job markets boost hopes that sooner rather later rate Federal Reserve cut is on the horizon.

Cybercriminals tend to exploit the Christmas and New Year's holiday season, making it crucial to be aware of their tactics to ensure safety, as per a New York Post report. A recent warning from YouMail highlights a concerning trend involving a fresh wave of robocalls. These calls falsely claim to be from major entities such as Amazon, Apple, Visa, and Chase Bank. The scammers employ tactics to alarm users by fabricating information about unauthorized purchases, aiming to coerce them into divulging personal information. If users succumb to these deceptive tactics, the scammers proceed to hijack credit cards, Amazon accounts, or bank accounts, intending to pilfer significant amounts of money from their victims. Staying vigilant and informed is key to thwarting these cyber threats, as per New York Post report. Fraudsters also engage in impersonating subscription services such as NortonLifeLock or McAfee, discussing expensive renewals. They employ a tactic of blending these fraudulent calls with emails, each featuring various callback numbers that are frequently altered. Another facet of this scam involves deceptive calls alleging to be from reputable institutions like Visa or Chase Bank, specifically addressing purported suspicious charges on your credit cards. These calls are particularly convincing as they leverage well-known brand names to entice individuals into falling for their schemes. Staying cautious and recognizing these tactics is crucial to avoid falling victim to such scams.

«I have decided to depart the House at the end of this year to serve America in new ways. I know my work is only getting started,» McCarthy said in an op-ed on the Wall Street Journal. While McCarthy did not specify what his next steps could be, he promised to stay active in Republican politics.

Binance will compensate users who bought the Euro-pegged AEUR stablecoin during a recent 200% surge, the company said.

Sonia Gandhi, Rahul Gandhi and Priyanka Gandhi Vadra will attend the swearing-in ceremony of Revanth Reddy on Thursday, India Today reported citing sources. Revanth Reddy, 56, will take oath as Telangana Chief Minister at 1.04 pm at LB Stadium in Hyderabad on Thursday, the PTI reported. Earlier on Tuesday, Congress General Secretary KC Venugopal had announced that Revanth Reddy will be the new Congress Legislature Party chief in Telangana.

Bharatiya Janata Party (BJP) will hold a high-level meeting on Thursday, amid suspense on the new chief ministers for Madhya Pradesh, Chhattisgarh and Rajasthan, Hindustan Times reported. The meeting will be held days after the BJP won assembly elections in the three states on December 3. The saffron party ousted Congress from power in Rajasthan and Chhattisgarh.

ChatGPT, Oppenheimer, and multiple cricket tournaments leading the list. Operated by the nonprofit Wikimedia Foundation, Wikipedia has garnered an impressive 84 billion page views in 2023, according to reports. The virtual chatbot ChatGPT, developed by OpenAI, emerged as the top-viewed page on Wikipedia for the year, capturing over 49.4 million page views.

Yellowstone" creator Taylor Sheridan and show's star Cole Hauser. Sheridan's coffee company Bosque Ranch is suing Hauser's Free Rein Coffee Company for trademark infringement, unfair competition and false advertising. As per a November 21 suit filed in the Northern District of Texas' federal court in San Angelo, Sheridian has accused Free Rein of using a «strikingly similar» brand mark to Bosque Ranch in order to «mistake or to deceive as to the affiliation, connection, or association» of the company with Bosque Ranch, according to court documents. Bosque Ranch contends that both brands utilize logos composed of intertwined letters, with BR representing Bosque Ranch and FR representing Free Rein. The claim is that these logos are too similar, potentially causing confusion among customers. Bosque Ranch serves as both the name of Sheridan's coffee company, launched in June, and the designation for his multipurpose ranch where productions like «Yellowstone» and its spinoffs are filmed.

Visa has unwrapped an overview of payment trends observed during recently concluded ICC Men's Cricket World Cup 2023. As per Visa’s data, there has been a 12.5% growth in contactless cross border transactions during the World Cup as compared to July 2023, before the festive season began.

New Mexico's attorney general is suing the parent company of Facebook and Instagram claiming it failed to protect underage users from exposure to child sexual abuse material and let adults solicit pornographic imagery from them

Quiver Quantitative — In a recent shift in the U.S. job market, companies have started to ease up on hiring, with November witnessing a notable reduction, particularly in the manufacturing sector. According to the ADP Research Institute and Stanford Digital Economy Lab, private payroll saw an increase of just 103,000, falling short of the anticipated 130,000 increase forecasted by economists. This downturn marks the lowest level of manufacturing job growth since the early stages of 2022.

Quiver Quantitative — Carson Block, the renowned short seller and head of Muddy Waters (NYSE:WAT), has publicly declared a short position against Blackstone Mortgage Trust (NYSE:BXMT), citing a potential liquidity crisis due to unfavorable economic conditions impacting commercial real estate. Block's announcement at the Sohn Investment Conference in London highlighted the risks faced by the trust, which specializes in loans secured by commercial properties. He raised concerns about borrowers' ability to refinance and repay the trust, suggesting the need for increased collateral and predicting a significant dividend cut.

By Lucia Mutikani