In Greed & Fear, Chris Wood noted reduced concern about capital gains tax hike, warning of significant market impact. Sensex and Nifty fell. India’s market cap to GDP is 145%. A reduced mandate makes tax hike unlikely. US Fed may ease policy with 25bps cut by September and 64bps by 2024; growth could slow materially.
CrowdStrike is a major cybersecurity and aerospace company based in the United States, that handles Microsoft's cybersecurity fronts. According to latest reports, the CrowdStrike servers have taken a hit, leading to a massive Microsoft outage throughout the world. CrowdStrike stock prices are also down due to the outage, as per NASDAQ.
Indian Hotels Company (IHCL) reported Q1 profit of ₹260 crore and revenue ₹1,550 crore, up 10% and 6%. Ginger, Qmin, Ama Stays & Trails saw 37% revenue growth. TajSATS and The Chambers rose 17%, achieving a 31% Ebitda margin. Despite election impacts, demand outpaced supply. Management fee income ₹114 crore. CEO Puneet Chhatwal credited the diversified top line.
The ruling Aam Aadmi Party in Delhi has criticized the BJP-led Centre and the Ministry of Railways following two consecutive train accidents in the country. The first incident occurred on Thursday when a passenger train derailed in Uttar Pradesh's Gonda, resulting in three fatalities and injuries to 30 others. Four to five coaches of the Dibrugarh Express train derailed from the front.
Berkshire still owns more than 998 million shares, valued at over $42 billion, making the conglomerate one of the bank’s largest shareholders, according to Bloomberg data. Bank of America stock has risen 7.9% in the month to date.
Indian Army Chief General Upendra Dwivedi is set to visit Jammu for a security review following the recent loss of soldiers in an encounter with terrorists in Doda district. The Army is adjusting deployments and deploying special forces to counter the threat of Pakistani terrorists infiltrating the region.
SpiceJet's board meeting on Tuesday, July 23, aims to raise funds via a qualified institutional placement. Shares initially rose 5%, closing at ₹56.38 on the BSE. Ajay Singh prioritizes funding due to defaults on aircraft lease rentals, statutory dues, and salary payments amid increasing Indian aviation market demand. Sebi regulations guide targeting qualified institutional buyers.
U.S. Representative Sheila Jackson Lee, a prominent progressive in the Democratic Party, has died, her family announced on X late Friday. Jackson Lee, who represented Texas and was an advocate for African-American and women's rights, had revealed last month she was battling pancreatic cancer. She was 74.
Reliance Industries faced profit constraints in the June quarter due to declining refining margins. Analysts anticipate ongoing uncertainty in refining margins. Stock rose 14% driven by telecom earnings growth. Telecom sector saw subscriber addition and expects revenue increase from recent tariff hike. Retail segment reported 10.5% operating profit growth.
The Ministry of Agriculture & Farmers Welfare reported a rise in total sown area to 704 lakh hectares this kharif season, with paddy leading at 166.06 lakh hectares. Pulses, particularly arhar, show notable expansion to meet domestic demand. Oilseeds also see growth, while cotton cultivation decreases. These trends reflect changing farmer preferences and market conditions, suggesting a positive outlook for key crops. (50 words)
Guru Purnima 2024 falls on July 21st, a day to express gratitude to spiritual and academic teachers. The festival honors Maharishi Vyasa in Hindu tradition and marks Lord Buddha's first sermon in Buddhism. Rituals include seeking blessings, prayers, and offerings. Celebrate with gratitude and reflection.
ITR filing: The Income-tax Act has established a fixed tax rate for the taxation of income from virtual digital assets (VDAs) such as cryptocurrencies, non-fungible tokens (NFTs), and other VDAs notified by the government. Here is a look at how to report income from cryptocurrencies, NFTs, virtual digital assets in your ITR.
On the consumer non-durable side, the recovery cycle is still starting off and there is anticipation with inflation being under control, a normal monsoon and possible tax breaks coming through, there could be a revival.
The Indian market is now the fourth-largest market in the world. It is the fifth biggest economy in the world. Unless it deeply disappoints, it would not correct a lot but neither can we expect that from here on, you should make 20% at the index level over the next one or two years, says Samir Arora.
Indian airports faced delays due to a Microsoft cloud outage, affecting Delhi and Chennai. Long airport queues were reported. Passengers experienced delays and missed flights. One passenger to London faced a half-hour delay; another missed a Bhubaneshwar lecture and couldn’t find alternative Sri Lanka flights. Airlines like Indigo and Vistara were impacted. New Delhi airport had temporary IT issues.
A CrowdStrike error caused global IT outages, impacting FedEx, Meta, and healthcare. Delta canceled 20% of flights. Microsoft aids recovery. Pete Buttigieg noted resolving issues. CISA reported increased phishing. Stock changes for SentinelOne and Palo Alto Networks. Airlines used handwritten boarding passes. President Biden was briefed. Insurers face claims; Mass General Brigham focuses on urgent care.
Microsoft CrowdStrike glitch: In a catastrophic IT failure, a botched software update by CrowdStrike crashed Microsoft Windows systems worldwide, affecting industries from banking to healthcare. Businesses faced disruptions as tech workers manually rebooted systems. The incident highlights the vulnerability of global supply chains to IT failures and cyber threats. Airlines, banks, and hospitals were among the severely impacted sectors, with ongoing repercussions.
Israel's Ministry of the Interior, in collaboration with the Israel Defence Forces and the National Emergency Authority, conducted a "war game" to enhance preparedness for a high-intensity multi-arena conflict. The exercise, attended by Interior Minister Moshe Arbel and the Ministry's Director General, Ronan Peretz, was prompted by the growing threat of an expanded war in northern Israel involving the Hezbollah terrorist organization.
Boeing forecasted 43,975 jet deliveries in 20 years due to demand and competition. Post-COVID-19 supply chain issues persist. Hulst cited fewer old plane retirements. Deliveries split between replacing older models and fleet growth may double the fleet. Traffic growth is 4.7%. Airlines face delays; FAA demands 737 MAX safety fixes after Alaska Airlines incident.
SpiceJet resolved the CrowdStrike outage with systems back to normal. Despite the Microsoft cloud outage, all flights operated, minimizing disruption to passengers' travel plans. Ajay Singh praised the team. IndiGo, Akasa Airlines, and Delhi Airport experienced delays and handwritten boarding passes. The government engaged with Microsoft. Banking saw minor impacts, with 10 banks and NBFCs affected. Bengaluru Airport also experienced delays. CrowdStrike’s George Kurtz confirmed the issue was fixed and not a security incident. Читать дальше...
ASD issued a warning following CrowdStrike's global outage on Friday, affecting banks, airlines. Commonwealth Bank faced transfer issues, Qantas and Sydney airport had delays. Prime Minister Albanese assured no critical damage. Cyber Security Minister Clare O'Neil warned of scams. ASD advised using official CrowdStrike channels. CrowdStrike, valued at $83 billion, has 30,000 subscribers.