UPS Financial News

India's per capita net national income (NNI) for 2022-23 stands at Rs 1.7 lakh. Despite this impressive growth, the perceived increase in wealth is not universally experienced due to persistent disparities in wealth distribution. Workforce Struggles “Despite growing towards lower levels of poverty, India is alarmingly moving towards a struggling working class at risk of falling into poverty. The latest joint report of ILO and IHD indicated that between 2012-2022, the average monthly real earnings of regular salaried workers declined by 1 percent each year, pointing towards poor-quality employment,” Chandra Shekhar, Partner, Posterity Consulting said. Consumption Patterns and Inflation As per a TOI report, the consumption pattern of India is similar to that of the US in the 1960s. The share of India’s domestic consumption to GDP was around 60% in 2022. As per the report, the Indian population spent nearly 30 percent of their income on food, followed by transportation, housing, and then on clothing, education, health, etc. In comparison, the US spends nearly 50 percent of their income on services, followed by healthcare, housing, and then food.

20 Microns Ltd.(up 11.68%), The Orissa Minerals Development Company Ltd.(up 10.00%), Madhav Marbles & Granites Ltd.(up 8.91%), Coal India Ltd.(up 6.39%), Pokarna Ltd.(up 4.66%), KIOCL Ltd.(up 3.48%), MOIL Ltd.(up 2.67%), NMDC Ltd.(up 2.62%), Gujarat Mineral Development Corporation Ltd.(up 2.33%) and Sandur Manganese & Iron Ores Ltd.(up 2.30%) stood among the top gainers.

The firm's half-year results, which were published today (7 August), show assets under management rose to £113.8bn at the end of June, an increase of 7% compared to £106.7bn at the end of December 2023. This was fuelled by total net inflows of £1.5bn and positive market movements adding £5.6bn. Core gross inflows surged by 35% to £7.4bn compared to £5.5bn in the first half of 2023, with the second quarter outperforming the first. Six Quilter Investors funds fail to deliver value as Covid woes continue to weigh on performance Profit after tax stood at £13m, up on £5m in the same per...

Revenue from operations shot up 51% YoY to Rs 4,510 crore.

Two of Edmunds’ highly rated full-size trucks are freshly updated

In a significant relief for beleaguered investment advisors, the Securities and Exchange Board of India (Sebi) has proposed relaxing existing regulations on qualifications for registered investment advisors (RIAs) and research analysts. This comes after years of tightening rules that have strained the industry.

Stocks rose on Wall Street as calm returned to the market a day after its worst drop in nearly two years

Tenders for enhancing grain storage capacity are awarded through a transparent, online process that many states governed by INDIA bloc parties have also adopted, Union Food and Public Distribution Minister Prahlad Joshi said on Wednesday. The issues of food storage capacity increase and privatisation of Food Corporation of India (FCI) godowns were addressed in the Lok Sabha on Wednesday, with Joshi responding to questions from Trinamool Congress (TMC) MP Sudip Bandyopadhyay. Bandyopadhyay raised concerns about the sufficiency of the storage capacity at FCI godowns and the involvement of a private entity in the sector.

Stocks that traded heavily or had substantial price changes on Tuesday: CSX, Caterpillar rise; ZoomInfo, Teradata fall

Japan's benchmark Nikkei 225 share index has soared as much as 10.7% a day after it plunged a near record 12.4%

During a roundtable today (7 August) with a group of Canadian retirement funds, Reeves is set to call on UK schemes to «learn lessons» from the Canadian model and «fire up» the UK economy. Chancellor launches pensions review to boost investment and tackle 'waste' in system She said UK funds can learn from consolidation methods Canadian schemes use and how consolidating into larger funds can help drive investment in productive assets such as vital infrastructure and high-growth business. The chancellor has also confirmed her first Mansion House address will set out how she will work...

Sony says its profit rose 6.5% in the last quarter on robust demand for its video games, films and music

Airbnb says its profit fell 15% in the second quarter from a year earlier, as higher income taxes cut into the short-term rental giant’s bottom line even as bookings and revenue rose

China has reported its exports rose 7% in July from a year earlier, below economists' forecasts for growth closer to 10%

Honda has reported an 8.7% increase in its fiscal first quarter profit as strong sales of hybrid vehicles in Japan and the U.S., and motorcycles in India and Brazil, boosted the Japanese automaker’s earnings

Stocks closed higher on Wall Street as calm returned to the market a day after its biggest pullback in almost two years

A railroad company wants to use eminent domain to condemn property in one of Georgia's poorest areas

Saudi oil giant Aramco has reported half-year profits of $56.3 billion, down from the year before due to weakening volumes sold amid worries about the global economy

U.S. stocks are bouncing back after the market experienced its worst day in two years on Monday, but the average investor may still be understandably spooked

World shares have advanced, with Japan's benchmark Nikkei 225 index closing 1.2% higher after a Bank of Japan official suggested the central bank would refrain from raising interest rates while markets are unstable

The Small Business Administration is looking to attract lenders to finance small businesses' clean energy projects