UPS Financial News

Dispatches of passenger vehicles last month, though, declined by about 2% with automakers limiting wholesales amid elevated stock levels in the market. As per industry estimates inventory of passenger vehicles in the channel stands at 407,000 units. Dealers peg the numbers higher and said car stocks in the network range between 67-72 days. Auto retailers body FADA (Federation of Automobile Dealers Associations), however, expect good retails in the upcoming festive season. Challenges though remain due to high stocks in the passenger vehicle segment, weak consumer sentiments in certain areas stemming from economic uncertainties and uneven spread of the monsoons.

Federal Reserve is to act with urgency, cutting its policy rate a percentage point to 4.25%-4.5% by the end of the year in the name of risk management. It’s a level of easing that the Fed is likely to undertake even if the rise in unemployment ends up being somewhat benign since we no longer need such restrictive rates to tame inflation. It makes sense to frontload those rate cuts rather than run the risk of being too slow to act to forestall worse economic outcomes. If we really are heading into recession, there’s not much disagreement on what the Fed should do: Cut interest rates a lot and fast. That’s where market pricing has shifted after a rocky week of economic data. Interest rate futures suggest the Fed will cut its policy rate by over 200 basis points by the end of 2025, taking the fed funds rate down near 3%. This seems reasonable based on what we’ve seen in prior recessions.

Gulf countries during the June to September holiday season have risen five-fold, causing financial hardships to poor labourers and the middle class migrants who want to visit India, a Rajya Sabha member said on Monday, asking the government to stop this "organised loot". Raising the issue +through a Zero Hour mention in the House, Jebi Mather Hisham (Congress) said June-September is normally a school holiday season in the Middle East countries but this has turned into a «horror season» due to the «exorbitant, exploitative and extortionist» airfares implemented by the airlines. «We call it organised loot because it (the fare hike) has not doubled or tripled but has increased by more than five times,» she said. Against the one-way fare of Rs 8,000 from Gulf countries to Kerala, a poor labourer is now having to shell out Rs 46,000 one-way and about Rs 1 lakh for return fare.

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Olympic medal podium is no longer a given for U.S. swimmers. Nine days of thrilling competition at La Defense Arena wrapped up Sunday night with the Americans barely pulling out the lead in the gold medal standings thanks to a victory in the final race. The U.S. finished with just eight golds, its fewest since the 1988 Seoul Games and one ahead of its biggest rival, Australia.

Just a few months ago, an MIT paper by Andrew W. Lo and Jillian Ross discussed Generative AI and Financial Advice in a case study. It certainly made our industry sit up and take notice – “An LLM (Large Language Model) can role-play a financial advisor convincingly and often accurately for a client,” they wrote.

CIL on Monday said it has entered into a joint venture agreement with GAIL (India) Ltd to set up a coal-to-synthetic natural gas project in West Bengal. While Coal India Ltd (CIL) will have 51 per cent shareholding in the joint venture, GAIL, the nation's largest gas transportation and distribution firm, will have 49 per cent. The joint venture will be incorporated as a private limited company. The initial paid-up share capital is Rs 1 lakh, CIL said in a BSE filing. The registered office of the joint venture will be in West Bengal and CIL and GAIL each will have the right to nominate three executives as directors of the JV.

Americans are finding it harder save in the current economic climate with back-to-school costs adding to the challenge.

gold medals at the Olympics with your ex? Czech tennis players Kateřina Siniaková and Tomáš Macháč prefer not to make the answer public! The former flames turned out to be one of the most compelling love stories of the Paris Olympics 2024. The duo was spotted sharing a warm hug and a kiss after they bagged top honours at the mixed doubles on Friday night. According to the French tabloidLe Parisian, the pair, who had been in a relationship since 2020, announced their separation in July, before the Olympics started.

Jim Rogers, Commodity Expert, says he has already sold most of his shares everywhere in the world. In a few places, he still has shares. So, he does not have anything that he wants to sell now because he has a lot of cash in US dollars right now. But he says he has not sold short. But if he ever starts selling short, he will sell seven or eight stocks in the US that have been so very hot. But he will not sell India short. He would rather sell the US short. Rogers also says when markets go down, everything goes down including gold and silver. Rogers owns gold and silver but he is not buying now. He is waiting for a better chance. While looking at the markets, everybody is saying that, oh, my God, have financial markets turned? Are we staring at what could be called a directional turn for financial markets or this is like a one-day sell-off or a one-week sell-off which would be digested? Jim Rogers: The US market has not had a problem since 2008, 2009, that is the longest in American history. So, America and therefore, the world is long overdue for a problem. And I will say to you, I have a lot of cash. The reason I have a lot of cash is that I expect the next sell-off to be the worst in my lifetime because the debt has gone up by so very much everywhere. Even India has debt now. So, you should be worried. I am worried. I am waiting for this collapse to come because I know it is going to be very, very bad. Maybe it is here. I do not know.

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Nifty on Monday almost tested the 50-day moving average of 23,840 as it fell to the day's low of 23,893.70 — courtesy index heavy weights Reliance Industries (RIL), HDFC Bank and Infosys. The 50-stock index, however, fell below its 30-DMA, replicating a rout in most Asian indices. While it managed to remain above its 50-DMA, 100-DMA, 150-DMA and 200-DMA, its sharp intraday fall dragged it below 5, 10, 20 and 30 DMAs.

Capitalmind Financial Services stated that continued flat earnings could lead to a price correction in the small-cap index. The PMS firm also noted that over the past year, the P/E multiple of the BSE Smallcap 250 has expanded by 63%, while the earnings per share (EPS) remains flat at -3%.

Mahindra Lifespace Developers Ltd and Actis have formed a joint venture platform 'Ample Parks' for the development of industrial and logistics parks and will build their first 70-acre project in Chennai. Actis, a leading global investor in sustainable infrastructure, and Mahindra Lifespace have formally launched a joint venture Ample Parks, an indian industrial and logistics real estate developer and operator, according to a company statement. The joint venture (JV) Ample Parks aims to acquire and develop about 1.5 million square metres of greenfield and brownfield sites in key markets across India over the next few years. The JV aims to establish itself as a leading industrial and logistics real estate solutions provider to global and local corporations.

SoftBank Group Corp. has cut $2.6 billion off the fortune of its founder Masayoshi Son, as the tech investor is buffeted by the Bank of Japan’s earlier-than-expected interest-rate hike. Shares were down 8% Friday in Tokyo. Over two days, the technology conglomerate is down roughly 14%. Even after the recent plunge, Son is up about $2.7 billion from the $11.3 billion he began the year with, according to the Bloomberg Billionaires Index.

anti-immigration protests have flared across England. Mosques and police officers have been attacked. In Rotherham criminals tried to set fire to a hotel they thought was housing asylum-seekers.

₹25 lakh of your ₹50 lakh turnover as income to be taxed, whereas you have made investments worth ₹30 lakh. Logically, how can you invest more than your income?" Karan Batra, founder of Chartered Club, agreed. “Now AIS (annual information statement) shows your investments and big-ticket expenses, which makes it easier to tally," Batra said.

Aaditya Thackeray claimed that the Eknath Shinde-led Maharashtra government was creating space for a minimum of four to five hoardings along the Coastal Road when there is no space for them. Shiv Sena MP Milind Deora, however, asked Thackeray to present a «real agenda» for Mumbai's development instead of writing «love letters» to the civic authorities. Thackeray claimed the state government plans to prop up huge hoardings in the open spaces near Haji Ali and Amarsons Park/ Breach Candy of the Coastal Road gardens. «They've delayed the coastal road… escalated the cost...For electoral credit, they opened the wrong lanes without planning. There is absolutely no word or communication with local MP, MLAs and ALMs on landscaping and gardening,» he said in a post on 'X'.

CK Venkataraman, MD, Titan, says that when it comes to Tanishq, what is emerging is that we need to up our game in terms of the standards, the innovations, and the excellence that we play for us to continue to keep growing at the rate at which we have grown for a long time. It is a good situation to be in. It will pull out everything that we have in terms of our capabilities and strengths. So, we are looking forward to the exciting times that are around us and, in a way, increasing in multiple ways. Though Q1 was not a blowout quarter for the jewelry market per se, demand was impacted by fewer wedding days and volatility in gold prices. Are things looking up now? CK Venkataraman: Yes, July has certainly been better. Even Q1 had two parts to it. For the first half till Akshaya Tritiya, growth YoY was good. But after that, the balance of the quarter was when the challenge came, where multiple things like extreme heat, gold prices, election excitement, plus election-related pressures on the movement of gold and stuff like that, but July has certainly been better.

inflation minus the food and beverages category—was both lower and less volatile than overall headline inflation. By April 2023, non-food inflation had fallen within the Reserve Bank of India's upper tolerance band of 6%, and by September 2023, it was slightly below the 4% target. Headline inflation, on the other hand, has remained around 5% since early 2024.