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Wipro on Friday appointed Srikumar Rao as global head of its engineering edge business line, effective October 5. He succeeds Harmeet Chauhan, who is stepping down to pursue opportunities outside the organisation. Srikumar has been with Wipro for 26 years and will report to chief executive Srini Pallia in his new role. He was the chief operating officer (COO) of Wipro engineering edge (WEE) and global practice head of embedded systems. In his new role, Srikumar will continue to scale and strengthen Wipro’s engineering prowess, said the company in a filing with BSE. He will also be responsible for defining the vision and growth strategy for Wipro’s ER&D Services business.

Japan's Defense Ministry Friday sought a record 8.5 trillion yen ($59 billion) budget for the next year to fortify its deterrence on southwestern islands against China's increasing threat, while focusing on unmanned weapons and AI to make up for the declining number of servicemembers as a result of the country's shrinking population. The ministry's request for 2025 marks the third year of Japan's rapid five-year military buildup plan under the government's ongoing security strategy. Japan aims to spend 43 trillion yen ($297 billion) through 2027 to double its annual military spending to around 10 trillion yen, making it the world's third-largest military spender after the United States and China. The budget request was approved at the Defense Ministry meeting Friday ahead of a submission to the Finance Ministry for negotiations through December.

chartered accountants' apex body ICAI will discuss the changes proposed by regulator NFRA to auditing standard SA 600 on September 17 amid concerns in certain quarters about the suggested updates. Standard on Auditing (SA) 600 broadly pertains to standards applicable in situations where a principal auditor of a company relies on the audit work done by another auditor for a group entity. While the National Financial Reporting Authority (NFRA) has proposed aligning SA 600 with the relevant international standard, ICAI has flagged concerns about the changes as that could result in concentration of audit activities with a few firms, according to ICAI officials in the know. At present, the principal auditor has to give a main audit report and a consolidated statement of the audit works done by other auditors for the group entities.

Unicommerce Esolutions reported a net profit of Rs 3.5 crore for the quarter ended June 30, 2024, which was up by 31% from Rs 2.7 crore reported by the company in the year ago period. The revenue from operations stood at Rs 27.5 crore, which was higher by 9% over Rs 25 crore posted in the corresponding quarter of the previous financial year.

Investors appear to be shaking off market volatility and focusing on some positive fundamentals for the long term.

consumer spending increased solidly in July, suggesting the economy remained on firmer ground early in the third quarter and arguing against a half-percentage-point interest rate cut from the Federal Reserve next month. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.5% last month after advancing by an unrevised 0.3% in June, the Commerce Department reported on Friday. Economists polled by Reuters had forecast spending would accelerate by 0.5%. This implies that consumer spending maintained most of the momentum from the second quarter, when it helped to boost gross domestic product growth to a 3.0% annualized rate. The economy grew at a 1.4% pace in the January-March quarter.

Hollywood insider Matthew Belloni has claimed that Phil Dunster won't be returning to feature in «Ted Lasso» Season 4 as soccer player Jamie Tartt, as per a report on Dexerto. The purported move has irked «Ted Lasso» fans who voiced strong reservations over Phil Dunster's absence. Some of them even demanded that the show must be cancelled.

Shyamalan in 2024, has now made its way to streaming platforms, following a mixed reception in theaters. Produced by her father, the renowned filmmaker M. Night Shyamalan, The Watchers marks Ishana's directorial debut. The film, based on A.M. Shine's novel, stars Dakota Fanning as Mina, a 28-year-old artist who is trapped in a forest in Ireland alongside three strangers and faces mysterious nocturnal creatures. Premiering in theaters on June 7, The Watchers garnered $33 million against its $30 million budget, a modest figure that reflects the film's lukewarm reception, as mentioned in a report by Screenrant. Unlike M. Night Shyamalan's other 2024 release, Trap, which performed more robustly at the box office, The Watchers did not capture a broad audience, leading to its quick transition to streaming. As the film begins to find a new audience online, its impact on Ishana Night Shyamalan's budding career remains to be seen.

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Brainbees Solutions Ltd, the parent firm of baby and mother care product retailer FirstCry, on Friday reported a 17% growth in operating revenue to Rs 1,652 crore for the quarter ended June 30, 2024. For the first quarter of fiscal year 2025, the omnichannel retailer said its net loss stood at Rs 75 crore, against a loss of Rs 110 crore a year ago. The firm saw its gross merchandise value (GMV), a proxy for net sales, grow 17% from a year ago to Rs 2,318 crore in the quarter ended June 30, 2024.

Ministry of External Affairs (MEA) of India refuted allegations from a CNN report that suggested India's involvement in the recent flood situation in Bangladesh. MEA spokesperson Randhir Jaiswal criticized the report, calling its narrative «misleading» and «factually not correct.» The MEA maintained that excessive rainfall, rather than any actions taken by India, was responsible for the flooding. «We have seen the CNN report on the flood situation in Bangladesh. Its narrative is misleading and suggests that India is somehow responsible for the floods. This is factually not correct and ignores the facts mentioned in the press releases issued by the Government of India clarifying the situation,» Jaiswal said. Jaiswal also criticized the CNN report for ignoring the existing communication between India and Bangladesh regarding water resources management.

"PS5 Pro" moniker, following the naming tradition set by the PS4 Pro. This upgraded version of the PlayStation 5 is expected to deliver enhanced performance and refined design elements, distinguishing it from its predecessor.The leak includes a sketch of the PS5 Pro, reportedly based on the front view of the final packaging box.

Global shares are mostly higher as markets continued to be moderately optimistic about the prospects of technology companies and the relative health of global economies

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Treasuries are poised for their longest monthly winning streak in three years as traders look past US data on personal income and expenditure due Friday and prepare for the Federal Reserve to start cutting interest rates.

The National Basketball Association formalized its giving over the past four years through a new $300 million grantmaking arm

Financial services professionals who act as fiduciaries for Independent Retirement Accounts could face extra scrutiny if new recommendations are implemented.

According to a report by the FT, the billionaire has been meeting backers to give new life to his IPO plans, after deciding to scrap the previous plans several weeks ago. This was despite cutting the fundraising target from $25bn to $2bn in an attempt to get the IPO across the line. This time around, Ackman is believed to be discussing a unit structure similar to special purpose acquisition vehicles (SPACs). Bill Ackman eyes 'redesign' of Pershing Square US IPO transaction The structure would allow backers to gain an additional security in addition to their shares in PSUS, as th...

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

Union Bank of India. It says the banking liquidity has fallen to Rs 0.95 lakh crore as on 28th August from a peak of Rs 2.86 lakh crore. The report highlights that the decline in liquidity continued throughout this month. At the beginning of the month, on August 2, 2024 banking liquidity was at Rs 2.56 lakh crore which has reduced to Rs 1.55 lakh crore on August 16th and now at Rs 0.95 lakh crore on August 28. The report stated, «As of 28th Aug, the system liquidity was in surplus, to the tune of Rs.0.95 lakh crore, easing from the peak of Rs.2.86 lakh crore earlier this month.»

United Spirits Ltd. gained 1.56 per cent to Rs 1471.0 in Friday's trade as of 01:45PM (IST). The stock hit a high price of Rs 1474.5 and low of Rs 1433.0 during the session. The return on equity (ROE) for the stock stood at 19.77 per cent. Traded volume on the counter stood at 01:45PM shares and turnover at Rs 1.2 crore around that time. The stock of United Spirits Ltd. quoted a 52-week high price of Rs 1480.0 and 52-week low prices of Rs 981.25, respectively.