UPS Financial News

Federal Reserve Chair Jerome Powell bolstered the case for a rate cut in September, while cryptocurrenices gained on rising odds of former President Donald Trump getting reelected. Powell said on Monday the three U.S. inflation readings over the second quarter of this year «add somewhat to confidence» that the pace of price increases is returning to the Fed's target in a sustainable fashion.

Bajaj Auto, L&T Finance, Just Dial, and DB Corp among others. Apart from the above, investors can also keep an eye on the earnings of Century Textiles, BMW Industries, Deccan Bearings, Dee Development Engineers, Himadri Speciality, IGC Industries, Jubilant Ingrevia, Crusil, Network18 Media among others.

Apple’s sales in India leapt 33% to nearly $8 billion in 2023-24 over what it recorded the previous year, according to a Bloomberg report on Monday, with iPhones notching up over half that total. While the company’s exports of locally assembled handsets were worth far more at $14 billion last year, the brand’s rising domestic offtake speaks of success on another front: its grand challenge of converting an Android-dominated market for smartphones to its iOS devices.

Prateek Agrawal, MD & CEO, Motilal Oswal AMC, in auto space, the call is whether over some time, EV dominates or ICE continues to have a very significant market share. He thinks that over time, EVs would end up dominating and hence their portfolios are nearly zero on ICE and are with companies where they have not made such a large success of ICE but have a great potential of making it in the EV space. Agrawal says there are four-five auto companies that Motilal Oswal AMC is invested in as a house and those companies seem to be doing well, winning market shares and getting into newer spaces. Among renewables, “we like renewable chemicals and the wind and solar energy companies says Agrawal. The choices are very low and seem to be mostly in the panel's space where entry barriers are not there. Frankly, we miss the financiers completely.”

Usha Vance. The wife of Sen. JD Vance of Ohio, Donald Trump's newly announced running mate, certainly has the credentials. A corporate litigator at a prestigious San Francisco law firm, Usha Vance has clerked for Supreme Court Chief Justice John Roberts and Justice Brett Kavanaugh when he was an appeals court judge, and earned degrees from Yale and Cambridge. It's a conspicuous resume for a woman whose husband gave a speech in 2021 titled «The Universities are the Enemy,» and rarely missed a chance to bash the establishment as he campaigned for the Senate in 2022, as The New York Times previously reported.

Micron was the first major company to sign up for the Indian government’s $1 billion Indian Semiconductor Mission when it announced a chip assembly plant in Gujarat last year at an overall investment of $2.75 billion. The firm, which builds memory products and is currently riding a generative artificial intelligence (GenAI)-led boom, having seen its market cap rise about 117% in the past year to $145.92 billion. Its chief business officer, Sumit Sadana, told ET in an interview that the company hopes to start the India facility by 2025 which will complement some part of its global sales given its AI led products are sold out till 2025. He also spoke about whether the exorbitant cost of AI products will come down, productivity gains, investing in India’s startup ecosystem and more. Edited excerpts: On Micron’s upcoming India facility

asset managers hoping to launch exchange-traded funds tied to the spot price of ether to begin trading next Tuesday, three industry sources said. The approval hinges on applicants submitting final offering documents to regulators before the end of this week, the sources said. One said that all eight are expected to launch simultaneously.

«If I have to look at the complacency in the US particularly, particularly in technology, if I have to talk about the Nasdaq 100 instead of looking at the composite or even some narrow indices, we are seeing early signs or not even early signs; we are seeing that the complacency indicator has actually started spiking,» says Sandeep Tandon, Quant Mutual Fund. I know that your strategy, of course, is looking at sectors and stocks at those extreme inflection points. So, I am curious to understand your outlook when it comes to IT in particular. Do you believe that it has reached that inflection point? Would that be a contra call? What is the stance at the current juncture? Sandeep Tandon: Yes, it has reached a neglected territory some time back. In fact, you asked me if it was in September 2023 itself when you saw an extreme sort of neglected phase and some capitulation happened. Something happened at the beginning of the year also when the majority of analysts downgraded by the end of the first quarter of 2023-24. But I will also agree that when you look at it from the earnings visibility point of view or the traction point of view in the business, it is still on the lower side.

«I doubt there will be any major changes, except for the saying that there has been challenges for FD immobilisation, which may need a tinkering, but may not be a drastic change in taxes. But if there are any of those things which you are talking about, then there can be a negative repercussions for the market,» says Pramod Amthe, InCred Capital. What is your take on the markets in run-up to the budget because we have seen most of these counters or sectors actually be abuzz in anticipation of what is likely expected in the budget. What is your view? Pramod Amthe: In terms of budget expectations, clearly what we are looking forward is some amount of relief to come through for the middle class and also looking at the election side relief for rural segment or the rural markets either in the form of looking at some direction for MSP or to that extent relief on exports of agri commodities so that should also give us some hints about sustaining the rural recovery which has seen initial signs of turnaround in the March and June quarter. So, those are the factors which we would look forward to for the budget expectations.

OnePlus Nord 4 may come with a 6.74-inch Tianma U8+ OLED display with a resolution of 2772×1240 pixels, up to 120Hz refresh rate and a peak brightness of 2150 nits.The upcoming phone is likely to come powered by the Qualcomm Snapdragon 7+ Gen 3 chipset and feature LPDDR5X RAM and UFS 4.0 storage.Optics-wise, the Nord 4 could come with a 50MP Sony LYT 600 primary sensor with support for optical image stabilization (OIS) and an 8MP ultra-wide angle lens. On the front, there is likely to be a 16MP shooter for taking selfies and attending video calls.The Nord 4 may include an in-display fingerprint sensor, stereo speakers with support for Dolby Atmos, an alert slider, an 0809 AAC linear motor, 17,900 millimeters of cooling technology, and an IR blaster.The latest OnePlus device may pack a 5,500 mAh battery with support for 100W SUPERVOOC fast charging.

J.D. Vance is Donald Trump’s pick for vice president, the former president announced on Monday afternoon. The senator, who became famous for “Hillbilly Elegy," a memoir about his hometown of Middletown, Ohio, has since blazed a political path for himself as a staunch conservative and Trump ally.

Mint earlier reported. In fact, Unacademy, which has four branches in Patna, gave a 10% hike in April to some of its top performing teachers. "Had the issue around NEET not been developed, we would have got more students," a faculty member said.

domestic passenger traffic in June at around 13.28 million, more than 6% from a year earlier, and nearly 10% above pre-covid levels; however, airline capacity deployment in June was up by just 7% on year and lower by 3% over May. Separately, one of the terminals of Delhi's international airport, the country’s largest and busiest, remains out of service.

immovable assets such as real estate to bring about uniformity. Currently, any capital gain from the sale of real estate held for 24 months or less is treated as a short-term capital gain. In contrast, the holding period threshold for listed equities and equity mutual funds is 12 months. The proposal suggests that property held for more than 12 months be considered long-term assets, bringing this in line with equities and equity mutual funds, a person privy to the deliberations told ET. However, there may not be any change in the tax rates for both long-term and short-term capital gain. The long-term capital gains tax on property is 20% with indexation benefits to adjust for inflation.

Elon Musk and the European Union after the latter accused Musk-owned social media platform X (formerly Twitter) of violating its online content regulations around transparency and accountability. A back and forth between Musk and the European Commissioner ensued. Here’s an explainer on the accusations against X and what the two sides have been saying. Why is X’s blue check on the dock? The European Commission on Friday issued its preliminary findings based on an investigation initiated last year. It found X to be in breach of the Digital Services Act (DSA).

GenAI to improve their customer interface and get a leg up on their younger, disruptive competitors, report Beena Parmar & Annapurna Roy A slew of banks, including the country’s largest lender, State Bank of India (SBI), as well as its private sector peers HDFC Bank, Axis Bank and IndusInd Bank, are turning to generative artificial intelligence (GenAI) to radically change the way their services are consumed, leading to ease of use and better engagement with customers.

₹1 trillion through support from banks, two officials toldMint. The infra lender’s total capital as of 31 March was ₹28,560.8 crore. Although the discussions are not centred around any particular state-owned infrastructure lender, the move is expected to benefit NaBFID as it is the only development finance institution (DFI) created to fund long-term infrastructure, the officials said.

Amazon is about to celebrate its tenth Prime Day, with millions of deals in a variety of categories. Starting on Tuesday, July 16 at 12:01 a.m. PDT and lasting until Wednesday, July 17, is this two-day summer sales event. Before the event, prime members can benefit from early savings, as per the reports of 'USA Today'.

Carlos Alcaraz successfully defeated another top-seeded tennis star Novak Djokovic in the finals of the men's singles clash at the All England Club to clinch the Wimbledon 2024 title. But the main question of fans arose when he was seen kissing the Wimbledon trophy that had a pineapple perched on top of it.

Bitcoin (BTC) was back above $63,000 for the first time in two weeks on Monday, up more than 15% from the lows of last week.

IDBI Bank's Stressed Assets Stabilisation Fund (SASF), which was looking to recover 11.59% from the sale of non-performing loans worth ₹6,151 crore, has hit a roadblock. Despite receiving 18 expressions of interest from asset reconstruction companies (ARCs) in the initial bidding round, the final round failed to secure any confirmed bids. Following the lack of interest, the reserve price for the auction has been reduced to ₹642 crore. The lender has launched another process on July 12. The deadline for submitting EOIs is July 16. The sale will be 100% cash-based, with EY running the process as the advisor.