Southern Financial News

SINGAPORE (Reuters) — Oil prices held steady on Tuesday amid uncertainty over voluntary output cuts by OPEC+ and as continued tension in the Middle East spurred supply concern.

US stocks ended lower on Monday, interrupting last week's rally, as investors turned cautious ahead of employment data due this week that could alter expectations that the Federal Reserve will cut interest rates early next year. The S&P 500 receded, with megacaps Microsoft, Apple, Nvidia and Amazon dipping over 1%, pressured by higher U.S. Treasury yields, which made returns on stocks less attractive. The S&P 500 registered its highest close of the year on Friday as remarks from Fed Chair Jerome Powell acknowledged the central bank's need to «move forward carefully» amid signs of economic softening, comments that bolstered expectations the Fed has finished raising rates. Small-cap stocks rose on Monday, with the Russell 2000 rallying about 1% and bringing its gain this year to almost 7%. «There is a lot of chop around here that is not necessarily meaningful,» said Tom Martin, a senior portfolio manager at GLOBALT Investments in Atlanta. «We have a really important Fed meeting coming up, and what makes it important is that all of a sudden, the market has decided that they're going to cut early next year.» The S&P 500 declined 0.54% to end the session at 4,569.78 points. The Nasdaq declined 0.84% to 14,185.49 points, while Dow Jones Industrial Average declined 0.11% to 36,204.44 points. Volume on U.S.

Bay of Bengal is set to make landfall between Nellore and Machilipatnam, close to Bapatla, in Andhra Pradesh on Tuesday morning. The system was moving in the sea at a speed of 10 kmph and lay centered around 80 km southeast of Nellore, 120 km north-northeast of Chennai, 210 km south of Bapatla and 250 km south-southwest of Machilipatnam at 5.30 pm, the IMD said in its latest bulletin.

Railway Ministry has set up an emergency control cell in Chennai and a war room at the Rail Bhawan in New Delhi among various other measures to meet the challenges posed by the cyclonic storm 'Michaung'. «The Indian Railways has geared up its entire machinery in a big way to ensure and manage smooth and safe railway operations in the areas likely to be affected by the cyclonic storm 'Michaung',» a statement issued by the Railway Ministry said on Monday.

Byju Raveendran, the eponymous founder of Indian edtech titan Byju’s, has pledged his home as well as those owned by his family members to raise money for paying employees as the company battles a cash crunch, according to people familiar with the matter. Two homes owned by the former billionaire’s family in Bengaluru, in southern India, and his under-construction villa in Epsilon — a plush gated community in the city — were offered as collateral to borrow $12 million, the people said, asking not to be named as the information is not public. The startup used the funds to pay salaries to 15,000 employees in Byju’s parent firm, Think & Learn Pvt., on Monday, they said.

Byju Raveendran, the eponymous founder of Indian edtech titan Byju’s, has pledged his home as well as those owned by his family members to raise money for paying employees as the company battles a cash crunch, according to people familiar with the matter. Two homes owned by the former billionaire’s family in Bengaluru, in southern India, and his under-construction villa in Epsilon — a plush gated community in the city — were offered as collateral to borrow $12 million, the people said, asking not to be named as the information is not public. The startup used the funds to pay salaries to 15,000 employees in Byju’s parent firm, Think & Learn Pvt., on Monday, they said.

Andhra Pradesh on Monday under the influence of cyclonic storm 'Michaung' as the state government issued an alert to the eight districts as it nears the southern coastal region before landfall. Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy held a review meeting on the cyclone with senior officials on Monday and set several relief efforts in motion. Also, an alert was issued to the districts of Tirupati, Nellore, Prakasam, Bapatla, Krishna, West Godavari, Konaseema, and Kakinada.

(Reuters) — U.S. stock index futures slipped on Monday, as investors turned wary ahead of a slew of economic data this week that is likely to test the narrative about a cut in interest rates by the Federal Reserve early next year.

Celsius Network LLC, a global cryptocurrency platform, is set to undergo a significant transformation following the confirmation of its Chapter 11 plan by the United States Bankruptcy Court for the Southern District of New York. This change comes after facing challenges with the U.S. Securities and Exchange Commission (SEC).

Cyclone Michaung News: As heavy rains batter the southern state of Tamil Nadu, coupled with strong winds, the southern and eastern coastline of India and the states attached to it were put on high alert. Several areas in Tamil Nadu were severely water-logged and therefore shutdown.

Andhra Pradesh on Monday under the influence of the cyclonic storm 'Michaung' and is expected to continue for the next few days. The weather system over west-central and adjoining southwest Bay of Bengal off south Andhra Pradesh and adjoining north Tamil Nadu coasts intensified into a severe cyclonic storm, leading to heavy rainfall in several parts of the state, an official said on Monday. The weather system moved northwestwards with a speed of 8 km per hour in the past six hours up to 8:30 am on Monday and lay centred in the same region off south Andhra Pradesh and adjoining north Tamil Nadu coasts.

Michigan regulators have approved a $500 million plan to encase in a protective tunnel a portion of an oil pipeline that runs beneath a channel connecting two Great Lakes

The head of the union that represents track maintenance workers says Union Pacific is jeopardizing safety by delaying nearly 1,200 planned projects until next year and laying off more than 1,000 workers

ZUARIAGRO(up 7.94%), G S F C(up 6.63%), Madhya Bharat Agro Products(up 3.21%), Southern Petrochemicals Industries(up 3.21%), Madras Fertlizers(up 3.12%), Fertilizers & Chemicals Tranvancore(up 2.33%), Rashtriya Chemicals & Fertilizers(up 2.33%), Aries Agro(up 2.24%), Mangalore Chemicals & Fertilizers(up 2.06%) and National Fertilizer(up 1.87%) were among the top gainers. Bohra Industries(down 4.92%), Agro Phos(down 0.52%) and Coromandel International(down 0.10%) were among the top losers.

Michaung' is expected to make landfall tonight in Southern Andhra Pradesh and the North coast of Tamil Nadu, several parts of Chennai continue to receive heavy rainfall with very strong winds. Teams of the National Disaster Response Force (NDRF) rescued around 15 people from Chennai's Tambaram area as it witnessed severe waterlogging.

Fox News, Israeli ambassador Gilad Erdan called Soros's donations to organisations that seek the destruction of Israel 'shameful'. Elon Musk slams George Soros for eroding ‘societal cohesion’ The Israeli ambassador alleged that Soros has transferred billions of dollars to organisations supporting BDS that have wanted to isolate Israel for years. "They have never been about real peace or any solution to the Israeli-Palestinian conflict," the Israeli ambassador said.

Myanmar, China’s gateway to the Bay of Bengal region, has emerged as a headache for Beijing in the backdrop of recent conflicts along the common land border. On November 24, there was an attack on a convoy of trucks bringing goods into Myanmar from China and this was followed by live-fire drills by the Chinese PLA along the China-Myanmar border on the very next day. These developments coincided with China’s Ambassador Chen Hai’s meeting with Myanmar’s Foreign Minister Than Swe.

Earthquake today: Massive quake of 7.6 magnitude strikes Mindanao in Philippines At least two people were killed and several were injured after Saturday's quake, according to AFP news agency. Saturday's quake triggered tsunami warnings across the Pacific region and sent residents along the east coast of Mindanao fleeing buildings, evacuating a hospital, and seeking higher ground.

Israeli military has said that its ground forces were operating against Hamas across the Gaza Strip on Sunday, its clearest indication yet that a planned ground offensive in the enclave's heavily crowded south had begun as Israeli bombing killed and wounded dozens of Palestinians. The Israeli military earlier ordered people to evacuate some areas in and near the city, but made no announcement of any new southern ground assault. 2.

The people were rescued amid waterlogging and power outages near Peerkankaranai and Perungalathur neighbourhoods in the Tambaram area. Parts of Chennai received torrential downpours as cyclone 'Michaung' approached the coast. Earlier, on Sunday, a State Disaster Response Team of more than 100 members arrived in the Kanchipuram district as the state geared up to tackle all possible threats and contingencies arising out of approaching Cyclone Michaung, which is expected to make landfall on December 5 in coastal Andhra. The cyclone, brewing in the Bay of Bengal, is likely to cross the coasts of northern Tamil Nadu and southern Andhra Pradesh around December 4. The India Meteorological Department informed on Sunday that the deep depression over the southwest Bay of Bengal intensified into a cyclonic storm, Michaung, over the same region. Following the IMD's cyclone warning in the Bay of Bengal, local cautionary Signal Number III has been hoisted in Chennai, Cuddalore and Ennore ports to alert people. The looming cyclonic storm over the Southwest Bay of Bengal prompted meteorological authorities to issue a comprehensive rainfall warning for several regions in southern and eastern India. Rainfall intensity increased on Sunday, with most places experiencing heavy to very heavy rainfall. Isolated, extremely heavy rainfall is anticipated on December 3. Rainfall is expected at most places on December 4, with heavy to very heavy rainfall at isolated locations. Isolated heavy to very heavy rainfall is likely on December 5 but is likely to ease off thereafter.

Myanmar, China’s gateway to the Bay of Bengal region, has emerged as a headache for Beijing in the backdrop of recent conflicts along the common land border. On November 24, there was an attack on a convoy of trucks bringing goods into Myanmar from China and this was followed by live-fire drills by the Chinese PLA along the China-Myanmar border on the very next day. These developments coincided with China’s Ambassador Chen Hai’s meeting with Myanmar’s Foreign Minister Than Swe.