Reuters Financial News

02.08 / 08:43

UPS FIVE Reuters CEO country record high India's July edible oil imports at record high

India's edible oil imports in July rose to a record 1.76 million metric tonnes as refiners built up stocks for upcoming festivals given uncertainty over supplies from the Black Sea, five dealers told Reuters. Higher purchases by the world's biggest importer of vegetable oils could help to lower palm oil stocks in Indonesia and Malaysia and support benchmark futures. They would also strengthen soyoil futures and could reduce inventories in sunflower oil-producing Black Sea countries.

02.08 / 08:43

UPS Reuters Strategy NIFTY Fitch Losing Sheen! Why metal stocks have fallen up to 3% today

Metal stocks fell up to 3% on Wednesday amid a firmer US dollar which made greenback-priced commodities more expensive for holders of other currencies. The Nifty metal index was down 1.3% around 11:45 am and trading at 6,681, with 12 scrips in the red in the 15-stock index. The top losers in the day's trade were National Aluminium Company (3%), Jindal Stainless (2.6%) and Tata Steel (2.6%).

02.08 / 07:09

Reuters Manufacturing country tax evasion China's EV giant BYD under scanner for alleged tax evasion in India on imported car parts

Warren Buffet-backed chinese automaker BYD is currently under investigation in India due to allegations of underpaid taxes on imported parts used in the assembly and sale of its cars in the country, as reported by two sources familiar with the matter. As reported by news agency Reuters, India's Directorate of Revenue Intelligence (DRI) claims that BYD failed to pay 730 million rupees ($9 million) in taxes. Despite BYD depositing this amount following the DRI's preliminary findings, the investigation is still ongoing, and there may be further tax charges and penalties, it said.

02.08 / 06:23

UPS Reuters Aware Manufacturing country Deaths India finds lapses at cough syrup maker linked to Cameroon deaths

India has found violations related to manufacturing and laboratory practices at drugmaker Riemann Labs, whose cough syrup was linked to child deaths in Cameroon, a government health official told Reuters on Wednesday. Indian authorities have stepped up scrutiny of drugmakers after some cough syrups made in the country were linked to deaths of dozens of children overseas.

02.08 / 03:47

Reuters Manufacturing Racing Enterprise stake Adani-owned Ambuja Cements to acquire majority stake in Sanghi Industries: Sources

Ambuja Cements has reached a deal to acquire a majority stake in operations of Sanghi Industries, two sources with direct knowledge said, a transaction that will add heft to cement operations of billionaire Gautam Adani's firm. The deal by Ambuja is likely to be announced as soon as Wednesday, the sources said, declining to be named because the decision is not public. They did not share the exact stake percentage.

02.08 / 02:39

Provident Reuters show country Oil prices Drop Oil prices rise more than 1% after sharp drop in US crude stocks

Oil prices rose more than 1% on Wednesday, trading near their highest since April, after industry data showed a much steeper-than-expected draw last week in crude oil inventories in the U.S., the world's biggest fuel consumer.Brent crude futures for October rose 92 cents, or 1.1%, to $85.83 a barrel by 0001 GMT, while U.S. West Texas Intermediate crude climbed 84 cents, or 1.03%, to $82.21 a barrel. Both benchmarks settled lower on Tuesday, breaking a three day streak of gains.

02.08 / 01:27

UPS Reuters Manufacturing Platform IBC social IBC signs $971.89M pact with Karnataka to build battery manufacturing facility

Reuters, MB Patil further noted that the manufacturing facility will be spread across 100 acres in the state, said in a post on social media platform X. Bloomberg News reported on Tuesday that the company would manufacture lithium-ion cells at the facility.

02.08 / 01:27

Provident Reuters Microsoft Apple performer analysts boost fall iPhone sales slow down: Apple to see sharpest fall in revenue since 2016 as analysts stress on AI to boost growth

macroeconomic trends and will continue to set the pace (for the smartphone industry) for quite some time," Reuters quoted Bob O'Donnell, founder of TECHnalysis Research, as saying. In September, analysts anticipate the unveiling of the much-anticipated iPhone 15, which could feature the widely accepted USB-C port on certain models. This development may provide a slight boost to iPhone sales during the July-September quarter, according to market experts, who have differing opinions on the overall performance during this period.

02.08 / 01:07

Reuters 2020 Trump Donald Trump indictment: Former president charged with conspiracy for efforts to overturn 2020 polls. Key charges here

Reuters. Meanwhile, the indictment said Trump and others organized fraudulent slates of electors in seven states, all of which he lost, to submit their votes to be counted and certified as official by Congress on Jan.

01.08 / 15:49

Lowe's Reuters show fall Low US job openings fall to more than two-year low in June

job openings fell to the lowest level in more than two years in June, but remained at levels consistent with tight labor market conditions despite hefty interest rate increases from the Federal Reserve to dampen demand. Job openings, a measure of labor demand, dropped 34,000 to 9.582 million on the last day of June, the lowest level since April 2021, the Labor Department said in its monthly Job Openings and Labor Turnover Survey, or JOLTS report, on Tuesday.

01.08 / 15:07

Reuters Booking Mobile Invesco show valuation US investment firm Vanguard cuts Ola's valuation further to $3.5 billion

Vanguard Group have cut the value of their holdings in ANI Technologies, the parent firm of ride-hailing startup Ola, to $3.5 billion – down over 50% from a peak of $7.3 billion – regulatory filings made by the investor with the US Securities and Exchange Commission (SEC) on Monday showed. The latest filing reflected Ola’s valuation as of May 31 in the investor’s books.

01.08 / 14:46

UPS Reuters Apple Tesla country Indian Tesla needs to copy Apple in pairing Chinese, Indian suppliers, say officials: Report

Indian officials have advised Tesla—building a plant in India—to follow Apple in finding “local firms to partner with any Chinese suppliers involved" Reuters reported Tuesday citing government sources having direct knowledge of the matter. The company is in talks with New Delhi about setting up a factory in India but strained India-China ties—after 2020 border clashes—complicate Tesla's plans for bringing in Chinese suppliers crucial for components as India does not have local suppliers for the same.

01.08 / 13:25

UPS Reuters Citizens country coup Uranium Uranium price ticks up after Niger coup, more gains expected

By Eric Onstad

01.08 / 13:05

COST UPS Reuters show country Latin Brazil's industrial output surprises with small rise in June

SAO PAULO (Reuters) — Industrial production in Brazil surprised economists with a small increase in June, but the positive figures are unlikely to prevent the central bank from kicking off a monetary easing cycle later this week.

01.08 / 13:05

Reuters Manufacturing Action show Oil steadies near three-month high on tighter supplies

By Natalie Grover

01.08 / 13:05

Reuters Platform Caterpillar Merck Starbucks Meta Platforms social chatbot Busy earnings day, Meta reportedly prepares AI chatbot - what's moving markets

Investing.com — Investors are preparing to sift through a deluge of corporate results on Tuesday from big-name brands like Merck, Starbucks and Caterpillar . Meanwhile, Facebook-owner Meta Platforms is reportedly gearing up to launch a new artificial intelligence chatbot that can take on the personas of different characters. Elsewhere, a bright pulsating sign on the roof of the headquarters of Elon Musk's newly-renamed social media group X is taken down after sparking controversy with local residents.

01.08 / 13:05

Provident Reuters BlackRock MSCI WSJ show BlackRock, MSCI face probe for allegedly facilitating China investments - WSJ

(Reuters) — Asset manager BlackRock (NYSE:BLK) and index provider MSCI are being investigated by a congressional committee for allegedly facilitating China investments, Wall Street Journal reported on Tuesday, citing letters to the companies from the panel.

01.08 / 10:21

Reuters Extreme Manufacturing country Deaths India orders Riemann Labs, linked to cough syrup deaths in Cameroon, to stop manufacturing

Riemann Labs, a manufacturer linked to cough syrup deaths in Cameroon, to stop manufacturing activities, said Reuters quoting the country's health ministry. Last month, the World Health Organization said a batch of cough and cold syrup sold in Cameroon under the brand name Naturcold contained extremely high levels of a toxic ingredient, the latest in a series of recent warnings about contaminated cough syrups.

01.08 / 09:07

UPS Target Reuters HSBC show performer Buyback HSBC announces $2 billion buyback as higher rates raise profit targets: Report

share buyback on Tuesday to raise its key profitability target as the increasing central bank interest rates across the world helped it more than double income for the first half of the year, according to Reuters reports. The financial services company raised its near-term return on tangible equity goal to at least mid-teens for 2023 and 2024, from a previous target of at least 12% from 2023 onwards. It reported a return on tangible equity of 9.9% for 2022.

01.08 / 02:27

Reuters Manufacturing CEO Apple Southern electronic Apple-supplier Foxconn to invest ₹4,100 crore for two factories in India

Foxconn Technology Group, the main supplier for Apple, has plans to invest nearly ( ₹4,100 crore) $500 million in the construction of two component factories in India, according to a report by Bloomberg News on July 31. The chosen location for these factories will be in the southern state of Karnataka. It is anticipated that at least one of these facilities will be dedicated to manufacturing Apple components, including those used in iPhones.

31.07 / 18:37

Reuters Ball Fighting Chase Cummins Celebrity Bid for Ashes series win falls in a heap

Australia’s wait to win an Ashes series in England will extend to at least 26 years after falling at the final hurdle with a 49-run defeat at The Oval.

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