Reuters Financial News

Nifty ended flat on Wednesday dragged by losses led by banking and financial heavyweights amid weak global cues as investors remained cautious ahead of key macro numbers in the US and India. The Q2 GDP numbers of the US are expected to be released today while the PCE price index data is due on Thursday, and the non-farm payrolls report is expected on Friday.

Gabon coup: A group of senior military officers in Gabon claimed they had seized power in the early hours of Wednesday. This came minutes after the Central African state's election body announced that President Ali Bongo Ondimba, 64, was declared winner of an election marred by fears of violence. As per media reports, The officers claimed to speak for all of Gabon's security and military forces on the television station Gabon 24.

US jobs data reduced the chances of further Federal Reserve rate hikes. The US dollar index - which measures the currency against six developed-market peers including the yen and euro - was little changed at 103.57 after pulling back from as high as 104.36 overnight. On Tuesday, the rupee ended 8 paise lower at 82.71 a dollar.

OpenAI is on track to generate more than $1 billion in revenue over the next 12 months from the sale of artificial intelligence software and computing capacity that powers it, the Information reported on Tuesday. Earlier, the ChatGPT maker projected $200 million in revenue for this year.

Russia has informed Brazil's aircraft investigation authority that it will not probe the crash of the Brazilian-made Embraer jet that killed mercenary boss Yevgeny Prigozhin under international rules «at the moment», the Brazilian agency told Reuters on Tuesday. Prigozhin, two top lieutenants of his Wagner Group and four bodyguards were among 10 people who died when the Embraer Legacy 600 crashed north of Moscow last week. He died two months to the day after staging a brief mutiny against the Russian defense establishment that posed the biggest challenge to President Vladimir Putin's rule since he rose to power in 1999. Brazil's Center for Research and Prevention of Aeronautical Accidents (CENIPA), in the interests of improving aviation safety, had said it would join a Russian-led investigation if it were invited and the probe held under international rules. Russia's aviation authority was not obligated to say yes to CENIPA, but some former investigators said it should, as the U.S. and other Western governments suspect the Kremlin of being behind the Aug.

By Lisa Pauline Mattackal

Mexico City | Woodside Energy Group estimates peak production from the Trion deepwater field it is developing with Mexico’s state oil company Pemex will reach 110,000 barrels per day (bpd) by 2028, Mexico’s oil regulator said on Tuesday (Wednesday AEST).

A class-action lawsuit filed in Nebraska federal court accuses TD Ameritrade and parent company Charles Schwab of neglecting their responsibilities to protect customer data.

By Siddharth Cavale

Private-capital backed mine site power business Zenith Energy has lined up a $320 million debt deal from a mix of existing and new lenders, as APA Group’s $1.7 billion acquisition of Alinta’s West Australian remote power assets kicks up interest in the sector.

Good morning,

Imran Khan's recent conviction on corruption charges, his lawyer Naeem Panjutha said, but it will not lead to his release as a judge has ordered his detention in another case. The 70-year-old former cricket hero has been at the centre of political turmoil in the crisis-ridden nuclear-armed state since his ouster in a parliamentary vote of confidence in April 2022, and his relations with Pakistan's powerful generals have deteriorated badly over the past year. Khan was imprisoned on Aug. 5 after being sentenced to three years jail for unlawfully selling state gifts during his tenure as prime minister from 2018 to 2022.

DUBLIN (Reuters) — The post-pandemic trend of people prioritising travel could be a more permanent change in consumers' spending habits, the head of Ireland's largest hotel group Dalata said on Tuesday.

Tata Motors and Mahindra and Mahindra have received domestic value certificates, a metric key to qualifying for payouts under the nation's production-linked incentive scheme, the government said on Tuesday. Launched in 2020, India's $24 billion production-linked incentive programme covers 14 sectors, ranging from electronic products to autos, and is crucial to boosting jobs in manufacturing, an area where India has struggled. Reuters reported this month that India's top bureaucrat reviewed the scheme, amid a push from industry for faster payouts. The Indian government said on Tuesday that applicants under the scheme for autos had invested 107.55 billion rupees ($1.30 billion) as of the end of June.

By Andreas Rinke and Maria Martinez

US job openings fell for a third straight month in July as the labor market gradually slows, but conditions remain tight, likely ensuring that the Federal Reserve would keep interest rates high for some time. Job openings, a measure of labor demand dropped 338,000 to 8.827 million on the last day of July, the lowest level since March 2021, the Labor Department said in its monthly Job Openings and Labor Turnover Survey, or JOLTS report, on Tuesday. Data for June was revised lower to show 9.165 million job openings instead of the previously reported 9.582 million. Economists polled by Reuters had forecast 9.465 million job openings in July. The labor market has remained resilient despite 525 basis points in interest rate hikes from the Fed since March 2022, in part as employers filled positions, which opened up during the COVID-19 pandemic.

consumer confidence fell more than expected in August after two straight monthly increases amid renewed concerns about inflation, a survey showed on Tuesday. The Conference Board said its consumer confidence index dropped to 106.1 this month from a downwardly revised 114.0 in July. Economists polled by Reuters had forecast the index retreating to 116.0 from the previously reported 117.0.

BEIJING (Reuters) -Some Chinese state-owned banks will soon lower interest rates on existing mortgages, three sources familiar with the matter said on Tuesday, as Beijing ramps up efforts to revive the debt crisis-hit property sector and bolster a sputtering economy.

By Safiyah Riddle

automobile and electronic companies said sales recovery of mass and entry-level products may get pushed by up to 3-4 months from the earlier expectation of a sales spike during the festive season due to scanty rainfall in August, reports of continued scarcity in September leading to a weak overall monsoon, and inflation remaining higher than what was initially expected. Companies reported sales during Onam — which heralds the festive season in India – was skewed towards premium and high-mid range with mass product sales failing to pick up. To be fair, most companies grew sales by up to 20% in this year Onam over last year, but sales of entry level products remained largely flat, industry executives said. Electronic company Haier India president Satish NS said the scarcity of rainfall will have an impact on rural economy with food inflation not coming down as expected.

Kupiansk on Tuesday morning, Ukrainian officials said. The town in the Kharkiv region was seized by Moscow soon after Russia's invasion 18 months ago, recaptured by Kyiv last September, and under frequent fire again as Moscow tries to hit back in the northeast. Some residents remain in the town, but regional authorities have ordered a mandatory evacuation of civilians from near the Kupiansk front because of the difficult situation. Regional governor Oleh Synehubov said the man killed on Tuesday was a guard at a meat processing plant that was hit in the latest shelling. The prosecutor general's office said a 67-year-old man had also been hurt during the shelling. Reuters could not verify the situation in the town, or reports from the battlefield. Kupiansk was home to about 27,000 people before the war and is a rail hub about 100 km (62 miles) east of the regional capital, Kharkiv.