UPS Financial News

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Taiwan tracked 13 Chinese aircraft and seven Chinese vessels around its territory until 6 am on Saturday. According to Taiwan's Ministry of National Defence (MND), 12 of the aircraft crossed the median line and entered Taiwan's northern, south-western, and eastern air defence identification zone (ADIZ). It added that Taipei has monitored the situation and «responded accordingly.»

tariffs slowed the influx of Chinese-made electric vehicles in July, as the bloc moved to protect its automakers from low-cost competition. The number of new EVs that Chinese automakers like BYD Co. and SAIC Motor Corp.’s MG registered in the EU last month fell 45% from June, according to research from Dataforce, which compiled results across the 16 member countries that have reported July figures to date. The drop may have been exaggerated by carmakers rushing to get EVs to dealers before the added levies took effect July 5.

(This story originally appeared in on Aug 16, 2024)

economic data helped soothe fears of a recession in the world's largest economy. On Wall Street, stocks extended their biggest weekly percentage gains of the year. The Dow Jones Industrial Average finished up about 0.25% — bringing its weekly gain to 2.7% — while the S&P 500 and Nasdaq Composite both increased 0.2%; they were up about 3.7% and 5% on the week, respectively.

Stree 2 continues to make waves at the box office, earning approximately Rs 30 crore on its second day. Despite a significant 43 percent drop in collections from its opening day, the film's total now stands at an impressive Rs 90.30 crore, edging it closer to the coveted Rs 100 crore mark. On its first day, Stree 2 had an outstanding performance, raking in Rs 51.8 crore nett, supplemented by an additional Rs 8.5 crore from paid previews. The film, directed by Amar Kaushik and produced by Dinesh Vijan, outperformed major blockbusters like Pathaan, Jawan, and Gadar 2 in several mass circuits, showing the lasting appeal of this horror-comedy franchise.

The S&P 500 and the Nasdaq notched their seventh straight session of gains, as stocks recouped losses from a tailspin two weeks ago. The sell-off, sparked by weak economic data and heightened recession fears, confirmed the Nasdaq had entered correction territory.

Texas Instruments said on Friday it would receive up to $1.6 billion in funding from the U.S. Commerce Department towards the construction of three new facilities, the latest government outlay aimed at bolstering domestic chip production. The funding, under the US CHIPS and Science Act, will help the company build two factories in Texas and one in Utah. Texas Instruments has pledged more than $18 billion through 2029 to the projects, which are expected to create 2,000 manufacturing jobs. The chipmaker also expects to receive about $6 billion to $8 billion in investment tax credit from the U.S. Treasury Department, and $10 million in funding for workforce development.

Sandip Sabharwal, asksandipsabharwal.com, says to identify stocks that have run their course. Sabharwal exited railway stocks, Tata Motors, cut down one or two other holdings, and is holding some cash on the sidelines. He says investors should be 80-85% invested, keep the rest in cash, and wait for opportunities that markets will provide. All stocks do not move in the same cycle. So, some sectors will underperform at some time. It will allow you to buy into them. So, that has to be the strategy now. It does not look like we are going to have a straight-line up-move from here on. We need to time to enter into our opportunities and hold on to them. Piramal Pharma, for three quarters in a row, has been showing improved performance and is almost back to Rs 200, the price before it got demerged from the main company, fell to Rs 60, and then clawed back to almost Rs 182-185. Your view? Sandip Sabharwal: Not specifically. But overall, if you monitor pharma sector results this year. You will see that they have also benefited from low chemical and input prices. So, across the board, the margin improvement in pharma companies and result delivery is much above expectations. It is an industry phenomenon and those tailwinds would remain for some more time.

Here's a list of small finance banks offering up to 9.5% on senior citizen FDs for amounts above Rs 3 crore. (Senior citizens are those aged 60 and above).

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₹2,606.18 crore, while their foreign counterparts or FIIs net purchased shares worth ₹766.52 crore . Overall, investor wealth increased by ₹7.3 trillion, per exchange data, on fresh buying and short covering (closing out bearish derivatives bets). Veteran money managers said the bullish sentiment is likely to continue despite quarterly earnings being in line.

Through the broken glass Of a library window The burning books Can’t be read. So new ones Will have to be written. —Ian McMillan (@IMcMillan) Over a decade ago, I walked into a small two-storeyed white house in Dhaka. It felt familiar. I’d grown up around houses like that in Kolkata with red oxide floors, black-and-white photographs on the wall, the rooms cool even on a warm afternoon.

₹2-3 crore (are) where high single digit rates can be offered for long-term deposits." The interest rate deregulation means the RBI cannot direct banks to make deposits more attractive. However, a senior economist suggested that the RBI can look at tweaking system liquidity, which would have an impact.

On a video chat in early June from the International Space Station, Sunita Williams talked to a packed elementary-school gym in her Massachusetts hometown about how it feels to ride a rocket into space (like a roller coaster) and what life is like hundreds miles above the planet. “Being in space is a lot of fun," the 58-year-old astronaut said as her hair floated loosely in a dark halo around her head. She demonstrated a few flips, sipped tropical punch from a pouch and opened up about how people pass the time in the microgravity environment of Earth’s orbit.

tender process to procure graphic processing units (GPUs) and provide services to users under the India Artificial Intelligence (IndiaAI) Mission, sources told ET. The ministry of electronics and information technology is likely to float the tender to procure 1000 GPUs or equivalent AI compute capacity for now, a source said. The winning bidder will provide services for three years for now, which may be extended on mutually agreeable terms by the government. On July 5, ET had exclusively reported that the IT ministry was likely to allow only Indian companies to run and manage the operations of GPUs to be procured under the Rs 10,372 crore India AI Mission.

Kamala Harris announced a sweeping set of economic proposals on Friday meant to cut taxes and lower the cost of groceries, housing and other essentials for many Americans. «Look, the bills add up,» she declared, trying to address the financial concerns that are at the top of voters' minds and that Republican Donald Trump is attempting to blame on her. During a speech in the battleground state of North Carolina, Harris said that «building up the middle class will be a defining goal of my presidency» as she promoted her plan for a federal ban on price gouging by food producers and grocers. She also proposed $25,000 in down payment assistance for certain first-time homebuyers and tax incentives for builders of starter homes.

Sabarmati Express derailed between Kanpur and Bhimsen stations in Uttar Pradesh early Saturday morning. Fortunately, no injuries or fatalities have been reported. Seven trains have been cancelled, and three diverted due to the incident. Emergency services, including buses and a MEMU train, were arranged to transport passengers to Kanpur. This comes at a time when India is seeing an increasing number of train mishaps that have killed hundreds over the last one year. However in this case, no injuries or fatalities were reported so far. «No injury to any person has been reported as of now. We are trying to find details regarding the number of coaches derailed,» stated a Railway Board official.

Vice President Kamala Harris has proposed a ban on “price gouging” by food suppliers and grocery stores, as part of a broader agenda aimed at lowering the cost of housing, medicine, and food

U.S. stocks drifted higher as Wall Street coasted to the close of its best week since November

super luxury cars are set to surpass previous peaks for the third straight year in India, even as mainstream auto makers are struggling to clear their piled-up inventory by offering massive discounts. A Lamborghini booked now will be delivered only in 2026 or later, as the supercar maker has sold all units its Italian headquarters allocated for India. The company retails the Huracan, Urus and Revuelto in India, with the on-road price ranging from ₹5 crore to ₹10 crore. Ferrari, McLaren and Aston Martin are also seeing strong demand in India for their supercars. Mercedes-Benz and Audi have waiting periods stretching up to a year for their top end models such as the AMG G 63 and RS Q8, priced ₹2.5-4.55 crore on road.