UPS Financial News

Sam is a financial journalist with a focus on cryptocurrency market news, based in London. With a Master’s Degree in Development Management from the London School of Economics, Sam’s passion for...

federal judge held last week that Google has a monopoly on online search and has been illegally defending that monopoly for years. The verdict is important and correct, yet it leaves open an important question: What should the remedy be? Judge Amit Mehta, in his 277-page decision, found that Google used a variety of means to hold on to its monopoly power and inflate prices paid by advertisers (and ultimately, consumers) to use Google's search platforms. The remedy, which will be decided by the same judge after hearings begin in early September, needs to tear down the barriers that protect Google's monopoly; if the judge delivers little more than a slap on the wrist to the tech giant, this verdict — a historic victory for the Biden administration's antitrust division — will mean very little. The government's case centered on payments, which in 2021 totaled more than $26 billion, that Google pays Apple and others to be the default search engine on their products. In doing so, Google kept Apple out of the search market and, the judge ruled, weakened its other competitors. But if the court merely decrees that Google now abandon those agreements, it won't be enough to unlock a long-monopolized market. It might even help Google in the short term by saving it some money.

Mars stores enough groundwater to form oceans on the planet's surface, an analysis of the data collected by NASA has suggested. However, the water is present several kilometres the surface, so extracting it to «supply a future Mars colony» is not feasible, the researches said. The amount of groundwater it contains can cover the entire planet, which is about half of Earth's size, to a depth of up to two kilometres, according to the research team. For those tracking the fate of water after the planet's oceans disappeared over three billion years ago, the study's results are «good news,» the researchers, including those from the University of California (UC) in Berkeley, US, said.

CULIACÁN, Mexico—In this steamy city that is home to the world’s largest fentanyl smuggling organization, the stunning capture of Sinaloa cartel patriarch Ismael “El Mayo" Zambada risks sparking a bloodbath that is likely to reverberate on the streets of the U.S. The once powerful Zambada said he was betrayed by the son of his longtime associate Joaquín “El Chapo" Guzmán. Now, many fear an open war between the two first families of the Sinaloa cartel.

stocks of top IT companies after their June quarter financial performance seems to have waned. The stocks of Tata Consultancy Services (TCS), Infosys, HCL Technologies, Wipro, Tech Mahindra, and LTIMindtree have lost between 3% and 6% in August so far driven by market volatility and mounting uncertainty over the demand form the US, a major market for Indian IT sector. Some of these companies had gained in double digits on bourses in June after showing early signs of improvement in project ramp ups. However, their post-result management commentary continued to be cautiously optimistic despite a sustained trend in deal wins during the quarter amid lack of a marked change in the clients’ approach towards budget allocation.

According to Bank of America's Global Fund Manager survey, concerns about a US recession have surged to 39% in August, up from 18% in July, replacing geopolitical conflict (25%) as the top tail risk. Global growth expectations have fallen from a net -27% in July to -47%, with optimism on China reaching its lowest level since May 2022.  However, the probability of a ‘soft landing' has increased from 68% to 76%, while the likelihood of a ‘no landing' scenario has dropped from 18% to 8%, and the probability of a ‘hard landing' has risen slightly from 11% to 13%. Economic 'boom' expect...

Two wealthtech firms have announced a collaboration which they say will expand the technology ecosystem for financial advisors.

Mint in an interview in New Delhi. “We have to just stay focused on that and not sort of get caught up in all the noise and people's opinions." Boeing reported a net loss of $1.44 billion in the June quarter, primarily due to major cash burn in its defence, space and security unit as a result of cost overruns. It reported a loss of $149 million a year earlier.

Reasons to buyReasons to avoidThe KODAK Instant Camera Printer combines the convenience of instant printing with the features of a digital camera. With its 3.5-inch touchscreen display, you can preview and edit your photos before printing.

Mint. Fresh from a trip to London and dressed in his usual crisp white BluSmart shirt and blue turban, Jaggi has other concerns now. While he maintains demand for rides is strong and growing, scaling up would require more charging points.

Fresh Bus on Tuesday said it has raised USD 10.5 million (about Rs 87.5 crore) in a Series A funding round led by early-stage transportation-focused VC fund Maniv. The funding round also saw participation from Shell Ventures, Alteria Capital, and existing investor Riverwalk Holdings, Fresh Bus said. The latest capital will be deployed for scaling up operations, enhancing technological capabilities, and strengthening the strategic team at the platform to drive growth, besides financing its growing fleet, it added. The company said it has so far raised around Rs 110 crore in three funding rounds, including two seed funding rounds last year.

bank helped avert a fall to the key psychological support level of 84 to the dollar. The rupee closed at 83.97, nearly unchanged from its close at its all-time low of 83.9725 in the previous session.

Brainbees Solutions, which operates and owns FirstCry, jumped over 13% to Rs 707 following their strong debut on the exchanges on Tuesday. The stock debuted at Rs 625 on the BSE, reflecting a premium of Rs 160 or 34% over the IPO price of Rs 465. On the NSE, it is listed at Rs 651, reflecting a 40% premium. The listing was above expectations, with shares previously trading at a grey market premium (GMP) of 18% to the issue price.

₹1.39 lakhs to see if it lives up to the hype. Let's dive into my experience.Check out HP laptops belowHP OmniBook X is a real looker with its metal construction and the Meteor Silver colour. It is slim and lightweight without sacrificing durability.

Triveni Engineering & Industries Ltd.(up 5.56%), Dwarikesh Sugar Industries Ltd.(up 3.58%), Bajaj Hindusthan Sugar Ltd.(up 3.35%), Balrampur Chini Mills Ltd.(up 3.29%), Ugar Sugar Works Ltd.(up 3.18%), Mawana Sugars Ltd.(up 2.70%), Shree Renuka Sugars Ltd.(up 2.60%), Simbhaoli Sugars Ltd.(up 2.37%), Avadh Sugar & Energy Ltd.(up 1.92%) and Rajshree Sugars & Chemicals Ltd.(up 1.66%) stood among the top gainers.

Made by Google Event 2024 Live Updates: Google is gearing up for its major hardware announcements at the Made by Google event on August 13. The company is expected to unveil its new Pixel 9 series, featuring four smartphones: the Pixel 9, Pixel 9 Pro, Pixel 9 Pro XL, and Pixel 9 Fold.

EMBARGOED TO 1910 SG (1210 LONDON) ON TUES AUG 13 2024

The Solana price has dipped by 0.5% in the past 24 hours, although its current level of $145 also marks a 4% gain in a week.

Independence day, an event in Uttar Pradesh's Kakori reignited the fire of violent revolution against the Britishers. A small incident of dacoity at a sleepy railway station shook the might of British empire. The use of physical force as a form of direct confrontation with and retaliation against the British began as a concerted attempt in the last decade of the 19th century in India. The anti-Partition agitation that began in 1905 further catalyzed the growth of extremist nationalism in India. Several revolutionary associations and organizations, both clandestine and open, sprang up in Bengal, Maharashtra, Punjab, and so on. This was also the period when the culture of the bomb was absorbed and employed by the nationalists with assistance from the revolutionaries abroad.

hernia surgery, only for doctors to discover an unexpected finding: female reproductive organs inside his body. Mistri, a father of two, had been experiencing severe abdominal pain, which led him to seek medical attention. An ultrasound initially identified a mass in his lower abdomen causing pressure on other organs and resulting in a hernia. He attended a free hernia check-up camp for a thorough evaluation. Dr. Narendra Dev, a professor at BRD Medical College, reviewed the ultrasound and confirmed the presence of a hernia.

Varun Beverages Ltd. traded at Rs 1482.75 on BSE at 01:45PM (IST) on Tuesday, up 0.58 per cent from previous close. The scrip quoted a 52-week low price of Rs 828.2 and a high of Rs 1707.1.