UPS Financial News

(Updated — February 21, 2024 11:16 AM EST)

By Katharine Jackson and Raphael Satter

By Jamie McGeever

Investing.com — Nvidia (NASDAQ:NVDA) will unveil one of the most hotly-anticipated earnings releases in recent memory after the U.S. market close on Wednesday, with analysts hoping that the artificial intelligence chipmaking giant posts a more than three-fold jump in revenue.

MUMBAI : Lunolux Ltd, the promoter of Eureka Forbes Ltd, will sell up to a 12% stake in the household appliances maker for $138.6 million ( ₹1,148.7crore) through a block deal on Thursday, people with knowledge of the deal said. Advent International had bought a majority stake in Eureka Forbes from Shapoorji Pallonji Group for ₹4,400 crore in 2021. Lunolux is an entity held by Advent International.

Karnataka government’s latest direction, asking multinationals to declare the number of Kannadigas they employ, has surprised sections of industry in the state. Calling the policy “intrusive” and “discriminatory”, former Infosys board member TV Mohandas Pai told ET that it could leave companies open to the risk of vandalism in the name of linguistic pride. “IT companies require talent. They hire people on the basis of open tests and don’t discriminate. If a Kannadiga candidate passes the test, they too get selected,” Pai, who is the chairman of venture capital fund Aarin Capital Partners, said. Karnataka, he added, has historically had a very open culture, especially in Bengaluru, and policies like this — which can cause hooliganism — create a perception of a government that is unable to protect its people.

Wipro Ltd on Wednesday disclosed a new deal with US chipmaker, Intel Foundry. The deal with the chip development division of Intel will further see Wipro engineers work on Intel’s latest ‘18A’ chip node that will be used in cutting-edge consumer electronics devices next year onward. Though Wipro did not disclose the exact size of the deal, two senior industry consultants said under conditions of anonymity that the deal with Intel Foundry is expected to be one of Wipro’s largest deal signings in the past three years.

ALSO READ: DRS at fault? England skipper Ben Stokes says, ‘If the ball's hitting the stumps…’ "We've got to keep on giving him confidence and block out a lot of the external noise and keep him present and focused on what he's trying to achieve, and I'm sure Jonny will come good," he added. Root, who has scored 11,493 runs in 138 Tests with 30 centuries, is also under the scanner. "It's Joe Root, crikey," said McCullum as he batted away criticism of the former captain's lean spell.

 Realtor.com chief economist Danielle Hale breaks down housing affordability on 'Maria Bartiromo's Wall Street.'

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PTI reported that the constable was eventually suspended from duty and arrested. The way employees of state-owned banks agitate against the management is changing. Organized labour unions with clear political affiliations have been the face of activism for long.

Hindustan Times. ALSO READ: Yuvraj Singh hails Shubman Gill after criticism from cricket veterans like Ravi Shastri, Sunil Gavaskar: ‘Let the bat…’ The Andhra player hit the first delivery for a Six via slog sweep over cow corner. After this, he went straight with the bat and then delivered the same result. With the left-arm spinner Damandeep Singh pitching the third ball on middle and leg, Krrishna disdainfully launched over long-on.

Delhi Chalo’ march and protests, now in their eighth day. “After the fourth round, the government is ready to discuss all the issues including MSP demand, crop diversification, stubble issue, and FIR in the fifth round. I again invite farmer leaders for talks.

Oil India Limited (OIL) and and private sector producers contributed 0.3 MMT and 0.6 MMT, data released by the Oil Ministry showed. Crude oil imports increased by 5.7 per cent and 0.9 per cent during January 2024 and April-January 2023-24 respectively, compared to the corresponding period of the previous year. The net import bill for oil and gas was $11.7 billion in January 2024 compared to $10.6 billion in January 2023, according to PPAC.

Red Sea crisis has led to a sustained disruption in trade routes. This delays timely delivery of goods due to attacks by Houthi rebels in Yemen on cargo ships plying waters connecting Asia with Europe and the United States (US). As a result, traffic is being forced away from the Suez Canal and redirected around the tip of Africa, the market intelligence and analytics arm of CRISIL said in a research note. These developments hold the potential to significantly impact players within the capital goods and fertiliser sectors. Commenting on the Capital goods sector, CRISIL said, “The ripple effect of such disruptions extends to various facets of the industry, potentially leading to an undesirable inventory build-up. This accumulation can, in turn, exert pressure on the operational efficiency of engineering, procurement and construction companies.”

The index hit a fresh record high of 22,249 in intraday trade while the S&P BSE Sensex fell over 400 points.

Assam government tabled Assam Healing (Prevention of Evil) Practices Bill, 2024 in state assembly whereby any person found guilty of committing the illegal act in the name of treatment/magic healing shall be punished with imprisonment and a fine. The Bill was introduced by Parliamentary Affairs Minister Pijush Hazarika on behalf of Chief Minister Himanta Biswa Sarma. Assam Healing (Prevention of Evil) Practices Bill, 2024 aims to bring social awakening in the society and to create healthy, science-based knowledge and safe environment to protect human health against the evil and sinister practices thriving on ignorance and ill-health of people to eradicate the non-scientific healing practices with ulterior motives for exploiting the innocent people and thereby destroying the fibre of the public health of the society. As per the Bill, no person shall take any part in healing practices and magical healing propagation for treatment of any diseases, any disorder or any condition relating to the health of a person (relating to human body) directly or indirectly giving a false impression of treatment to cure diseases, pain or trouble to the human health.

coal gasification projects in the country, the Ministry of Coal is planning to offer coal at a notified price for coal gasification, a senior ministry official said on Wednesday. «We are considering offering coal at a notified price for coal gasification plants that will be set up. We will be making a policy for the same so that the industry does not face a shortage of coal,» said Nagaraju Maddirala, the Additional Secretary, Ministry of Coal at a roadshow in Mumbai, held to push coal gasification projects. Notified pricing means coal will be made available at a cheaper rate than its auction rate. Currently, only the power sector receives coal at a notified price. Other sectors avail of coal at auction prices.

World Bank warned that high borrowing costs have «changed dramatically» the need for developing nations to boost sluggish economic growth. The multilateral lender's latest warning comes as international bond sales from emerging market governments hit an all-time record of $47 billion in January, led by less risky emerging economies such as Saudi Arabia, Mexico and Romania.