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Port Talbot plant in South Wales hit a significant milestone on Monday when its Blast Furnace 4 ceased operations after over 100 years, marking an end of «legacy» steelmaking as the UK's largest steelworks transitions towards greener steelmaking. Steelmaking at the site is now set to resume in 2027-2028 as part of a British government-backed investment programme of around GBP 1.25 billion in Electric Arc Furnace-based steelmaking, using UK-sourced scrap steel. The Mumbai-headquartered steel giant said it is looking ahead to a «brighter, greener future» for the historic site and sustaining more than 5,000 jobs. «I am deeply conscious how difficult today is for everyone associated with our business. Throughout this transition, we are doing everything possible to minimise the impact on all those who are affected by the changes we are making,» Rajesh Nair, CEO of Tata Steel UK, said in a statement.

current account deficit widened marginally to 1.1 percent of GDP in the June quarter compared to 1 percent of GDP in the same period a year ago due to widening trade deficit according to the figures released by the Reserve Bank of India. Overall balance of payments ended in a lower surplus of $5.2 billion compared to $24 billion in the previous comparable quarter as capital flows slowed during the quarter. Current account which record the country's imports and exports of goods and services ended in a deficit of $ 9.7 billion or 1.1 per cent of GDP for the quarter ended June 2024-25 compared to $ 8.9 billion or1.0 percent of GDP in June 2023 quarter and against a surplus of $ 4.6 billion or 0.5 per cent of GDP in the March 2024 quarter.

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BEIJING — Chinese President Xi Jinping said Monday that no challenges can stop the country from moving forward and reiterated Beijing's reunification aims with Taiwan.

Subscribe to enjoy similar stories. MUMBAI : At a recent informal investor meet-up in Bengaluru, half of the 20-odd participants said they had received calls to buy Swiggy shares ahead of its initial public offering (IPO). The Mint writer's tweet on the subject, asking for comments, elicited hundreds of responses.

Subscribe to enjoy similar stories. A major injection of economic stimulus in China drove gains in stocks from Beijing to New York at the end of the quarter. Some investors say what happens there could be key to markets’ direction in the months ahead.

Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk and Bitcoin Magazine.

In the fast-paced world of cryptocurrency, new projects emerge every day, but only a few stand out with the potential to truly disrupt the market. One of those projects is FXGuys (FXG), an innovative DeFi (Decentralized Finance) token that is quickly capturing the attention of crypto enthusiasts and investors. As 2024 approaches, many are wondering: could FXGuys contend with the likes of Bitcoin and Ethereum?

critical minerals this week, two Indian government sources said, as the two countries try to bolster trade ties despite diplomatic hiccups. They are expected to sign an agreement to partner and cooperate in the area of critical minerals during Indian trade minister Piyush Goyal's visit to Washington, the sources said. Goyal is scheduled to be in the U.S. this week to discuss ways to deepen overall bilateral trade ties, according to one of the sources, weeks before the White House's preparation for a leadership change following the presidential election later this year.

Benchmark NSE Nifty closed 368.11 points down at 25810.85 amid selling in frontline bluechip counters.

The Orissa Minerals Development Company Ltd.(up 5.90%), NMDC Ltd.(up 4.14%), Lexus Granito(India)Ltd.(up 2.05%), MOIL Ltd.(up 2.03%), KIOCL Ltd.(up 1.91%), 20 Microns Ltd.(up 1.05%) and Sandur Manganese & Iron Ores Ltd.(up 0.68%) stood among the top gainers.

Rep. Jeff Van Drew, R-N.J., says possible port strikes across America could really 'exacerbate' supply chain problems on 'The Evening Edit.' 

Indian Oil Corporation (IOC) on Monday announced that it has withdrawn its Rs 22,000 crore rights issue as the government will not participate owing to the non-allocation of funds to the oil marketing companies (OMCs) in the Budget 2024-25. “This is in continuation of our earlier intimation dated 07.07.2023 wherein it was informed that the Board has accorded approval for raising of capital by way of issue of equity shares on right basis up to an amount not exceeding Rs 22,000 crore (Rupees Twenty-Two Thousand crore only), subject to receipt of necessary statutory approvals,” said IoC’s filing to the stock exchanges.

Motilal Oswal named HCL Technologies, LTIMindtree, Persistent Systems and Coforge as its top picks in the sector. “Among Tier-I players, we prefer HCLT and LTIM for their strong capabilities in data engineering, ER&D offerings (HCLT) and ERP modernization, making them well-suited for pre-GenAI spending. For Tier-II players, our top picks are PSYS and COFORGE, both poised for strong performance,” said the domestic brokerage firm in its report.

The cost of trading Futures & Options (F&O) involves brokerage fees which account for 51% of the transaction costs, then exchanges take 20% and the government collects the remaining 29% as taxes, a Capitalmind Financial Services note said, informing that approximately 1 crore individual traders have contributed around Rs 50,000 crores in transaction costs over the past three years.

Subscribe to enjoy similar stories. As I leave from New York after a week full of conversations and action points around climate change, I feel a deep sense of urgency. For the first time, global warming has exceeded 1.5° Celsius—not just for a week or month, but for an entire year! And 22 July 2024 went down in history as the hottest day since humans started recording temperatures 175 years ago.

Vinay Paharia, CIO, PGIM India MF, says some of the sectors with many of these high growth companies include the healthcare sector, consumer discretionary sector, some companies within the financial services, particularly the private sector banks, and high growth NBFCs. Wherever we are seeing companies with the ability to grow on a sustainable basis at a higher rates of growth, those companies would materially outperform.

Narendra Modi has appealed to the people to use ‘Made in India’ products during the ongoing festive season. Starting with Ganesh Chaturthi, the festive season will last nearly two months and include Navratri, Dussehra, Diwali and Chhath. This is the time when cheap Made-in-China goods flood Indian market. PM Modi has asked people to buy not just earthen lamps. «Merely buying earthen lamps is not ‘Vocal for Local'. You should promote local products made in your area more and more. Any such product, that has been made with the sweat of an Indian artisan, that is made on Indian soil, is our pride –– we always have to lend glory to this pride,” he said.

ICICI Securities has buy call on Adani Energy Solutions with a target price of Rs 1,318. The current market price of Adani Energy Solutions is Rs 1010.2. Adani Energy Solutions Ltd., incorporated in the year 2013, is a Large Cap company (having a market cap of Rs 121227.44 Crore) operating in Power sector. Adani Energy Solutions key Products/Revenue Segments include Traded Goods, Sale of services and Income From Construction Work for the year ending 31-Mar-2024.

REC Ltd. gained 0.16 per cent to Rs 561.0 in Monday's trade. It hit a high of Rs 564.1 and low of Rs 550.1 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 511.89, while the 50-DMA was at Rs 588.88. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.