UPS Financial News

DÜSSELDORF , GERMANY : Three weeks into its campaign at this European Championship, England’s national soccer team has come to a jarring realization: Whatever approach it had designed here wasn’t working. The Three Lions have barely scored, have created next to no chances, and have a nasty tendency to keep falling behind. And yet, as heavyweights such as Germany, Italy, and Portugal all went home, England has stuck around.

beer category by nearly three times in FY24, companies' reports and excise data showed. According to available data, premium beers (on average, beers priced above Rs 125 per pint) grew 25-30% by volume in FY24, compared to 8-10% growth of the overall beer category. At Bira91's recently opened Taproom pubs in Ludhiana, flavoured premium beers such as Citrus Wheat, IPA and Stouts are outselling stronger and regular lagers by about three times. «What is interesting to note is that there's this stereotype that people in Punjab drink strong beers. But this busts that stereotype — consumers there are actually drinking beers that are flavourful and milder,» said Ankur Jain, chief executive of B9 Beverages, which sells Bira91.

Shares of Chewy are volatile in early trading after a regulatory filing revealed that Roaring Kitty, an investor at the center of the meme stock craze, has taken a 6.6% stake in the online pet retailer

Zomato Ltd. gained 1.76 per cent to Rs 212.75 in Wednesday's trade. It hit a high of Rs 213.8 and low of Rs 205.3 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 149.25, while the 50-DMA was at Rs 190.62. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Adani Wilmar today surged 4.4% on BSE to a high of Rs 347.50 after the company achieved a robust volume growth of 13% YoY in the quarter ended June 2024 along with a 36% increase in volume of their branded exports. The company’s alternate channels like e-com and quick commerce were also able to maintain momentum with a 19% YoY volume growth.

Elon Musk has been committed to reaching Mars with SpaceX for over 20 years. He has stepped up his efforts recently, concentrating on setting up a metropolis on Mars. The 53-year-old billionaire entrepreneur has given SpaceX staff instructions to create spacesuits, plan dome dwellings, and research if it is possible for humans to reproduce on Mars. To assist in starting a colony, he has even donated his sperm. Instead of the 40–100 years, he had previously estimated, his timescale has accelerated, with one million humans expected to inhabit Mars in 20 years, as per the reports of DNYUZ.

India’s technology sector will need more than 1 million engineers with advanced skills in artificial intelligence and other capabilities over the next 2-3 years, an industry body estimates, a demand that won’t be met unless the government significantly beefs up education and training in the country. The sector will need to reskill more than half of its existing workforce to take up jobs in fields such as AI, big data analytics and cyber-security, said Sangeeta Gupta, senior vice president and chief strategy officer at the National Association of Software and Service Companies, based in Bengaluru. New college graduates will only be able to fill a quarter of the advanced tech jobs needed, she said. “Employability of the workforce is a huge challenge and will require a fair amount of work,” Gupta said in an interview Monday. “The industry can’t do with a one-time up-skilling, it has to be a continuous journey amid a fast changing digital landscape.”

China's Ministry of Finance is conducting more rigorous checks of work done by the Big Four auditing firms for local companies, three people with knowledge of the matter said, amid concerns auditors are not doing enough to uncover corporate wrongdoing. The tighter scrutiny, which has not been previously reported, is mainly focused on Deloitte, EY, PwC, KPMG and their audits of some financial firms as well as highly leveraged companies, said the people. It began a couple of months ago and comes in the wake of a regulatory probe into «intermediaries» for property giant China Evergrande Group, which refers to auditors, rating agencies and other providers of financial services.

Companies making smartphones, refrigerators, wearables and twowheelers said they are producing up to 20% more inventory than last year for the upcoming festive season. They expect a demand revival during the country’s largest consumption period on the back of a good monsoon and stable inflation. “There’s pent-up demand in rural India, which will be unleashed by the monsoon. People there have not bought much in the past five years, which is Covid onwards, while the premiumisation trend is continuing strong in urban India,” said Kamal Nandi, business head at Godrej Appliances.

Taiwan's defence ministry said Thursday it had detected 66 Chinese military aircraft around the island in a 24-hour window, a record-high this year, a day after it said Beijing was conducting exercises in nearby waters. China claims self-ruled democratic Taiwan as part of its territory and has said it will never renounce the use of force to bring it under its control. Thursday's record follows Taipei a day earlier spotting Chinese aircraft around the island that it said were headed to the western Pacific for exercises with the PLA aircraft carrier Shandong.

Indian imports rose to 42% in June from 37% in May and was more than the combined share of the next four largest suppliers, according to energy cargo tracker Vortexa. Crude imports from Russia jumped 13% in a month to 1.92 million barrels per day (mbd) in June. Russia's share in Indian imports exceeded the combined share of Iraq (16%), Saudi Arabia (8%), the UAE (8%) and the US (7%). Supplies from Iraq dropped 22% in a month to 754,000 barrels per day (bpd) in June and imports from Saudi Arabia fell 36% to 386,000 bpd. Supplies from the US, however, rose 63% to 330,000 bpd.

LG V K Saxena in tree feeling in ridge area, the Supreme Court on Friday directed the Delhi Development Authority (DDA) to inform it whether the order to cut trees was passed on basis of LG's oral permission or the agency independently took the decision. The apex court was hearing suo motu (on its own) contempt proceedings against the vice chairman of the DDA over alleged cutting of 1,100 trees in the ridge forest for a road widening project. Observing that there was a complete non-application of mind by Delhi LG in granting permission for felling of trees, a bench of Justices Abhay S Oka and Ujjal Bhuyan said it should have been informed on the first day of the hearing itself that the LG already had issued directions for tree felling. «What troubles us is that everybody has committed a mistake. First day, everybody should have come to the court and said there is a mistake by us. But cover up goes on and on. After four or five orders, truth comes out in the from of DDA officer's affidavit. All have committed the mistake including the Lieutenant Governor. Sorry state of affairs,» the bench said.

When the Bank of Canada made its first interest rate cut last month there were three risks economists cited that could stall the cycle — the Canadian dollar, the housing market and wage growth.

Southwest Airlines has adopted a ‘poison pill’ following activist investor Elliott Investment Management taking a significant stake in the company

here.India cricketers have received a rousing welcome home from fans after winning the Twenty20 World Cup final in Barbados.India skipper Rohit Sharma held up the World Cup trophy after arriving at New Delhi International Airport early Thursday morning.Hundreds of supporters were gathered at the airport, many waving the national flag and chanting “India, India."There were thousands more waiting to continue the celebrations, which started Saturday and were about to ramp up.

RBI has cancelled the licence of Shimsha Sahakara Bank Niyamitha, Maddur (Karnataka) in the wake of its worsening financial position. Consequently, the bank ceases to carry on banking business, with effect from the close of business on Friday (July 05, 2024), the Reserve Bank said in a statement. The Registrar of Cooperative Societies, Karnataka has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank. On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to Rs 5 lakh from Deposit Insurance and Credit Guarantee Corporation (DICGC).

The Senate will pursue a spending increase next year of about 3.4% for defense and 2.7% increase for non-defense programs under a bipartisan agreement reached by the Senate Appropriations Committee

Gujarat's Surat city has gone up to seven with the recovery of six more bodies overnight, police said on Sunday. The residential building, located in Pal area, collapsed at around 2.45 pm on Saturday. While a woman was rescued soon after the collapse, the body of a man was pulled out on Saturday night, an official earlier said.

iPhone 17 Pro Max will feature a significant upgrade in its camera system, potentially boasting a 48MP Tetraprism lens to enhance zoom functionality. Although the iPhone 16 Pro Max is also expected to include a Tetraprism camera, there will be notable differences in sensor size.

Aditya Vision, in which Ashish Kacholia has a 1.87% stake, on Wednesday informed exchanges about the stock split of its equity shares into 10 fully paid shares. The company will announce the record date for the subdivision of equity shares after the receipt of approval of the members.

The European Union says it’s accepting Apple’s pledge to open up its “tap to pay” iPhone payment system to rivals as a way to resolve an antitrust case and head off a potential hefty fine