UPS Financial News

Asian stocks rose on Friday, on course for a third week of gains, while the dollar was on the back foot as fresh signs of an easing U.S. labour market stoked optimism around interest rate cuts this year ahead of next week's crucial inflation data. Sterling was steady at $1.2515, having touched over two-week low of $1.2446 on Thursday after Bank of England (BoE) paved the way for the start of rate cuts as soon as next month.

Equity markets took a heavy beating with the BSE Sensex tumbling 1,062 points on Thursday. Analysts said investors are trimming their equity exposure at a faster pace as the election season heats up, which can be seen from the drubbing that mid and small-caps received. Stocks that were in focus include names like IRB Infra, which fell 3%, IGL, which was down 2.48%, and Dr Reddy's, whose shares declined 2.8%.

Also read | Invest in new ideas, not flavour of the season, says Accel's Prashanth Prakash This is the kind of big picture thinking that has made Prashanth one of the top venture capitalists and investors in the country — someone who continues to shape the startup ecosystem in India, which he has had a ringside view to over the span of two decades and more. At the moment, Prashanth focuses on companies in the consumer Internet services, online marketplaces and SaaS space and has led investments in startups like BlueStone, BookMyShow, FabHotels, QwikCilver, Rentomojo and TeaBox, but he will perhaps always be best remembered as the person who, along with co-founder Subrata Mitra, bet on Flipkart back when e-commerce was but a glimmer in Indian founders’ eyes.

As policy-wonk buzzwords go, few are more important these days than “ample." What that word means, or rather what the Federal Reserve thinks it means, has become a $7.4 trillion question hanging over the U.S. economy. The issue is the Fed’s balance sheet, which currently stands at about that level.

Chartered accountants (CAs) are increasingly facing stiff competition from STEM graduates in getting into consulting firms that are becoming heavily dependent on technology for client service and regulatory compliances, said industry executives. STEM refers to science, technology, engineering and mathematics.

In the age of shiny Instagram feeds, hopping from one exotic destination to another has become the norm. It’s rarely about savouring experiences but ticking off a checklist of sights and destinations. In fact, social media-inspired travel itineraries offer nothing but temporary validation on platforms like Instagram, Facebook and YouTube.

Donald Trump's defense attorney on Thursday accused Stormy Daniels of slowly altering the details of an alleged 2006 sexual encounter with Trump, trying to persuade jurors that a key prosecution witness in the former president's hush money trial cannot be believed. «You made all this up, right?» attorney Susan Necheles asked.

«I understand the importance of renewable energy and thought that everyone should adopt it,» said Narayan, 60, whose action inspired many others to do the same in the capital of Madhya Pradesh state in central India. Now, a new government scheme — unveiled before voting began in nationwide elections in April — aims to encourage more people to install solar panels on their roofs as part of India's commitment to triple renewable capacity by 2030.

Palestinian civilians. A senior U.S. official said this week that the administration had reviewed the delivery of weapons that Israel might use for a major invasion of Rafah, a southern Gaza city where over 1 million civilians have sought refuge, and as a result paused a shipment of bombs to Israel. Washington has long urged Prime Minister Benjamin Netanyahu's government not to invade Rafah without safeguards for civilians, seven months into a war that has devastated Gaza.

JPMorgan Chase & Co. is on track to include India in its emerging market debt index from June with most of its clients ready to trade, according to the firm’s global head of index research. “Based on the annual Index Governance Consultation process, market feedback so far has been largely positive, with the majority of our index clients already set up to trade in the IGB market,” managing director Gloria Kim said in an emailed reply to questions.

Inflation is continuing to take a financial and mental toll on retirees, with nearly 70 percent concerned about outliving their savings, according to the Schroders 2024 US Retirement Survey.

AlTi Tiedemann Global, a global wealth management firm with assets exceeding $70 billion, is stepping further into the US wealth space with a hefty acquisition.

BJP may not get as many seats in the general election as projected earlier, prompting investors to cut some of their bets. Regulatory actions against the banking sector that could slow lending are also weighing down sentiment. The Volatility Index or VIX shot up to a 19-month high, suggesting traders see greater risk in the market in the near term. The NSE Nifty fell 345 points, or 1.55%, to close at 21,957.50. The BSE Sensex declined 1,062.22 points, or 1.45%, to end at 72,404.17.

acquisition activities, with several small and midsize firms announcing deals in the past four months in segments ranging from consulting and startups to engineering services, data and analytics. Most of them are making acquisitions to strengthen their capabilities so that they do not miss out when the demand for technology spending, especially in discretionary projects, returns, say analysts. Big IT firms such as Infosys, HCLTech, Wipro and Cognizant too have announced M&A deals in recent months, but the numbers were fewer compared with their smaller rivals.

generative artificial intelligence (gen AI) proofs of concept (PoCs) in India went into production in fiscal year 2024, according to estimates by consulting firm EY India. Additionally, 15-20% of domestic enterprises and 30-40% of global capability centres (GCC) of multinationals have rolled out gen AI PoCs, EY's analysis of the last two quarters showed.

Shares of the National Stock Exchange surged by more than 25% in the unlisted market this week following a 4:1 bonus announcement last Friday. According to brokers dealing with the unlisted shares, the stock was trading at around ₹4,300-4,400 last week and is currently trading in the ₹5,400-5,800 range. At ₹5,500, NSE is valued at ₹2.73 lakh crore or about $33 billion, making it the world's seventh most valuable stock exchange, trailing Nasdaq's market capitalisation by just $1 billion.

Tata Motors, Bank of Baroda, Cipla, BPCL, Manappuram Finance among others will be in focus due to various news developments and quarterly earnings. Tata Motors, Bank of Baroda, Cipla Shares of Tata Motors, Bank of Baroda and Cipla will be in focus as the companies will announce their fourth quarter results today.

Grayscale, the company behind the world’s largest Bitcoin (BTC) ETF, saw flat revenues in Q1 despite non-stop outflows from its world-famous fund throughout the quarter.

A South Korean convenience store chain, Emart24, is teaming up with the popular cryptocurrency exchange Bithumb to offer Bitcoin Meal packs. These unique meal boxes will provide customers with an opportunity to win small amounts of Bitcoin, adding a crypto twist to their lunch break.

₹6.49 lakh ex-showroom. It launched the new Swift with six airbags as a standard offering across all its variants, marking a change in the carmaker's stance, and after fighting back regulation that could potentially make six airbags standard equipment in cars. The Swift also debuts a new Z-series 1.2 liter engine, the most fuel-efficient in its segment, with a claimed fuel efficiency of up to 25.75 kmpl.

Video Game Hall of Fame has inducted its 10th class of Honorees with the inclusion of 5 classical video games. This has been reported by the ‘abc News’. These 5 video games include: Asteroids, Myst, Resident Evil, SimCity and Ultima. This inclusion recognizes their contribution to the video game industry and the impact it has had on popular culture. These games have over the decades evolved and have kept up with the current trends. It has focused on keeping up with the technological developments in the world and industry. The hall of fame recognizes video games of all types. The selection of these 5 games was among the list of 12 games that were shortlisted among the finalist. Some of these other games that were considered are are Elite, Guitar Hero, Metroid, Neopets, Tokimeki Memorial, Tony Hawk’s Pro Skater and You don’t Know Jack.