Reuters Financial News

Gold prices were steady in early Asian hours on Tuesday as investors maintained a cautious stance ahead of U.S. inflation data that could influence the Federal Reserve's rate policy trajectory.FUNDAMENTALS * Spot gold held its ground at $1,925.89 per ounce by 0047 GMT. U.S.

Reuters, Ukraine's head of military intelligence, Kyrylo Budanov, said that the Wagner fighters went far further. He said that they reached the nuclear base and that their intention was to acquire small Soviet-era nuclear devices in order to "raise the stakes" in their mutiny. "Because if you are prepared to fight until the last man standing, this is one of the facilities that significantly raises the stakes," Budanov said.

US Federal Reserve to increase interest rates by 25 basis points this month. Meanwhile, several Fed officials said additional interest rate hikes are needed to bring down inflation that is still too high, but the end to the US central bank's current monetary policy tightening cycle is getting close, Reuters reported. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — 11th July In Japan, Nikkei 225 gained 0.6% and the Topix rose 0.3%.

BEIJING — For foreign businesses in China, geopolitics hold more sway than new Chinese laws, according to analysts.

New Delhi: Foxconn Technology Group has pulled out of its joint venture with Vedanta Ltd that had planned to invest $20 billion in India for setting up a semiconductor fabrication unit, display unit and semiconductor assembly and testing unit.   The 60:40 partnership could have set up the country’s first semiconductor manufacturing unit under the $10 billion government-backed financial incentive scheme, and was once estimated to be ahead of two other consortia in the fray for getting the sops.   The government however downplayed the development saying that the differences between the two companies did not impact India’s plans to become a semiconductor manufacturing destination.   “Both the companies are fully committed to developing India’s semiconductor industry and they’re fully committed to Make in India," minister of electronics and information technology Ashwini Vaishnaw told Mint, noting that the announcements will not have an impact on India’s semiconductor mission.  Rajeev Chandrasekhar, minister of state for electronics and information technology said in a Twitter post following the announcements that it was well known that both companies had no prior experience or technology and were expected to source fab technology from a technology partner.  "While their JV VFSL had originally submitted a proposal for 28nm fab, they could not source appropriate tech partner for that proposal.

Investing.com — The inflation/Fed rate hike rhetoric has stepped up again with the imminent release of U.S. consumer price data, and the oil market seems to be paying for it more than other risk assets.

Major banks are facing one of the biggest regulatory overhauls since the financial crisis, setting up a clash over the amount of capital that they have to set aside to weather tumult.

US Embassy in India on Monday announced that VFS Global will be temporarily closed for the visa application processes — appointment booking, calls, and fee payments from July 12 to July 14. VFS in a statement said that they are migrating to a new platform and will resume their services on July 15. Taking on twitter, US Embassy said «Attention visa applicants! Our customer service center VFS is migrating to a new platform and will be temporarily closed for calls, fee payments, and appointment booking from July 12-14.

By Tim Hepher

US embassy mentioned that visa application process- appointment booking, calls, and fee payments-- will be resumed from 15 July.  US Embassy in India took to their Twitter handle, “Attention visa applicants! Our customer service center VFS is migrating to a new platform and will be temporarily closed for calls, fee payments, and appointment booking from July 12-14. These services will resume on July 15." VFS Global is the world's largest outsourcing and technology services specialist for governments and diplomatic missions.

Reuters.  Pakistan faces some $23 billion of external debt obligations coming due in the fiscal year starting July — more than five times the nation’s foreign-exchange reserves. Fitch in a statement said that the upgrade reflected the country's improved external liquidity and funding conditions following a staff level agreement with the International Monetary Fund (IMF).  The credit rating agency however, warned that the fiscal deficit still remained wide.

NEW DELHI (Reuters) — Taiwan's Foxconn said on Monday it had withdrawn from a joint venture with conglomerate Vedanta (NYSE:VEDL), in a blow to Indian Prime Minister Narendra Modi's chipmaking plans.

India's Godrej Aerospace expects Rs 100 crore ($12.10 million) in revenue from civil aviation business in its current financial year, associate vice president Maneck Behramkamdin said on Monday.

Vedanta, it said on Monday in a setback to Prime Minister Narendra Modi's chipmaking plans for India. Foxconn, the world's largest contract electronics maker, and Vedanta signed a pact last year to set up semiconductor and display production plants in Modi's home state of Gujarat. Feb. 14, 2022: Foxconn partners with Vedanta to make semiconductors in India in a bid to diversify its business.

Here is your Pro Recap of four head-turning deal dispatches you may have missed this week: Cronos attracts interest; Brookfield buys American Equity Investment Life, Thermo Fisher merges with CorEvitas, and Monster Beverage buys Bang Energy.

The softer US jobs report for June is only one facet of the risk driver that oil and gold need this week. To complete the picture, Wednesday’s Consumer Price Index, or CPI, report for last month will have to be just as soft to dial down the Federal Reserve’s hawkishness, ensuring the central bank doesn’t go beyond two more rate hikes this year — better still, one.

Ant Group has drawn a line under the fintech giant's woes and given hope to investors that a regulatory crackdown on China's broader technology sector is over. Ant's story so far has been one of a dramatic reversal in fortunes: while its shelved $37 billion IPO in 2020 had valued the company at $315 billion, a share buyback announced on Saturday valued it 75% less at $78.5 billion.

By Noah Browning

Reliance Industries (RIL), while global sentiment was cautious ahead of key macro data and corporate earnings in the week ahead. "Global stocks took a breath on Monday after a surprisingly low reading on Chinese inflation and ahead of data on U.S. inflation and corporate earnings later in the week.

₹95 to ₹59,505 per 10 grams in the national capital on July 10 amid a fall in precious metal in the global markets. The yellow metal had settled at ₹59,600 per 10 grams in the previous trade. Silver, prices remained flat at ₹72,500 per kilogramme.

St Albans | Cameron Smith has enjoyed the perfect tune-up to defend his British Open title, ending a win drought with another money-spinning victory at the latest LIV Golf event at the Centurion Club.