UPS Financial News

Benchmark NSE Nifty closed 397.41 points up at 24541.15 amid buying in frontline bluechip counters.

Android devices after a gap of four years, following legal measures by the EU, developer Epic Games said on Friday. Fortnite, created by Epic, a U.S.-based studio, and backed by China's Tencent, the world's largest game studio, launched in 2017 and its last-player-standing, «battle royale» format became an instant hit, drawing in millions of dedicated players. But in August 2020, Apple and Alphabet's Google removed Fortnite from their app stores for violating their guidelines by launching a payment feature, prompting several lawsuits challenging their rules of charging up to 30% commissions on payments.

Japanese stocks are leading gains in world markets after Wall Street close to its record heights as data showed the U.S. economy is holding up better than expected

Shares of Glenmark Pharmaceuticals Ltd.(up 5.01 per cent), Biocon Ltd.(up 4.06 per cent), Mankind Pharma Ltd.(up 3.83 per cent), Abbott India Ltd.(up 3.24 per cent) and Zydus Lifesciences Ltd.(up 1.46 per cent) ended the day as top gainers in the pack.

mpox cases are now being reported outside Africa too. Sweden has confirmed its first case of mpox on Thursday just as Pakistan reported three cases. China's customs administration said it will monitor people and goods entering the country for mpox for the next six months. Danish drugmaker Bavarian Nordic said Thursday it was ready to produce up to 10 million doses of its vaccine targeting mpox by 2025, The WHO’s declaration of mpox as a global health emergency aims at galvanizing action and resources to mitigate the spread of the virus.

BRUSSELS—Apple has long kept a tight grip on its iPhone ecosystem. In Europe, its hold is starting to weaken. “Fortnite" maker Epic Games on Friday said it is launching an alternative app store for iPhone users in Europe.

NAHB CEO Jim Tobin discusses changes in the real estate business as new rules are set to take place for realtors and the impact of markets on the industry.

Dalmia Bharat Sugar and Industries Ltd.(up 5.90%), Avadh Sugar & Energy Ltd.(up 4.01%), Balrampur Chini Mills Ltd.(up 4.00%), Mawana Sugars Ltd.(up 3.51%), Dhampur Sugar Mills Ltd.(up 2.07%), Triveni Engineering & Industries Ltd.(up 1.93%), Ugar Sugar Works Ltd.(up 1.62%), Ponni Sugars(Erode)Ltd.(up 1.55%), EID Parry(India)Ltd.(up 1.48%) and Sakthi Sugars Ltd.(up 1.26%) stood among the top gainers.

A tribal leader and conservationists urged state officials to reject plans to relocate part of an aging northern Wisconsin pipeline, warning that the threat of a catastrophic spill would still exist along the new route

Nest Seekers International chief economist Erin Sykes weighs in as high interest rates continue to hurt the housing market on ‘The Bottom Line.’

Former JPMorgan Chase chief economist Anthony Chan reacts to Kamala Harris saying it will be her Day One priority to bring down prices despite already being in office on Varney & Co.

Former Assistant Treasury Secretary for Economic Policy Michael Faulkender says there is nothing changing to cause a cutback on the inflationary pressures on 'Kudlow.'

Samir Arora, Founder, Helios Capital, says we cannot let go of pockets of flow by just believing that we are getting Rs 20,000 crore a month. The SIP numbers are good, but they are not what you think are. The actual net flows are not Rs 20,000 crore or more per month, they are only Rs 10,000 crore. For some reason, we are only talking about gross flows. When things go bad, things will become very bad if we ignore one big pool of money and more than that, ignore valuations and ignore bad news beyond a point. So one has to balance it. We have done it. I am sure fund managers are doing it. Everybody is saying valuations are expensive, and the markets are due for a correction but look at the ability of the market to shrug off bad news, what it did on election day, the Budget day, and what it has done post that black Monday 10 days ago. Samir Arora: Correct. One of course is flows, but it would look out of place if we were doing it independent of the world. So, basically, the mothership which is the US is also doing the same, not related to the budget or elections, but in general reacting to any bad phases and so it has recovered so well, Japan has recovered. But the FII flows have been quite negative and I think that is because these tax hikes have become untenable. Just to give you one number, the MSCI India Index in dollar terms is up over 17 percent year to date, whereas a $10 billion index is up 13%. So, over time, this is going to hurt and there will be some loss of FII investments in India.

Here is a look at the list of banks that have revised their MCLR in August 2024.

Indian shares as more volatility, lukewarm earnings and a surprise tax hike on equities take a toll on the enthusiasm for the market. Global funds have turned bearish on Indian stocks for the first time in two months, with net shorts of 30,547 index futures as of Wednesday’s close. Just a month ago, large investors abroad were net long about 400,000 contracts, their most bullish stance since 2015.

Olympics medalists Neeraj Chopra and Manu Bhaker has increased significantly after companies reach out to them to tap into their popularity and connect with a wider audience. Hockey goalkeeper P R Sreejesh, shuttler Lakshya Sen and shooter Arjun Babuta too are seeing an increased demand from the companies. Post Chopra’s silver medal, his brand value has seen an appreciation of 40-50 per cent. This was his second consecutive Olympic medal after having won a gold medal in Tokyo Olympics 2024. The Ambala boy’s endorsement fees were already at a premium, estimated at Rs 4 crore annually per brand, reported TOI. The 26-year-old Javelin thrower is already endorsing a raft of products across 21 categories, including sports lifestyle, audio and smartphones, he is now being approached by more brands across segments – from automobiles to financial services, real estate, logistics and quick commerce, Divyanshu Singh, COO at JSW Sports which manages Chopra’s portfolio told TOI.

Logistics firm Ecom Express has filed draft papers with the market regulator for an initial public issue of shares worth nearly Rs 2,600 crore. The offer will comprise fresh shares worth Rs 1,284 crore and another Rs 1,315 crore in an offer for sale (OFS) by existing investors, the company informed the Securities and Exchange Board of India in its draft red herring prospectus (DRHP). If it gets the regulatory approval and goes ahead with the IPO, Ecom Express will become the second new-age logistics firm focused on online deliveries to be listed on the Indian public bourses, after Delhivery that listed in May 2022.

In 2022, I was sent on an assignment to a city that did not have an airport and reaching via train was the most viable way. I was eligible to travel in AC first class and a looming deadline meant that I, solo traveller, ended up by paying little attention to my travel plan. It was a mistake that I will never repeat again.

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

India-EU trade mustn’t stumble on digital sovereignty "The EU is advocating for stronger intellectual property protections, which India is cautious about due to concerns over generic medicines. Additionally, the EU is pressing for sustainability and labour standards in the agreement, but India is worried about their impact on its domestic regulations and industries," said trade analyst Ajay Srivastava, who is the founder of Global Trade Research Initiative (GTRI), a think tank.

Nikkei share average climbed nearly 3% on Friday and notched its best week in more than four years, as strong U.S. retail sales data soothed fears of a recession in the world's largest economy and Japan's top trading partner. The Nikkei closed 3.6% higher at 38,062.67, locking in its second-largest daily gain for the year, while the broader Topix finished up about 3% at 2,678.60.