One man died, and six people, including British tech entrepreneur Mike Lynch and his daughter, went missing after a storm hit and sank a luxury yacht off Sicily early Monday. The British-flagged "Bayesian," a 56-meter sailboat, anchored near Porticello, was struck by violent weather, the Italian coast guard said.
Kamala Harris is known for her adept political analysis skills and knowing the right timing of things. She has emerged victorious in some major battles of her political career by vary small margins, with luck by her side, something that has always amazed her followers. Here's an interesting story on how 47 seconds of a particular occasion kept her political career thriving.
Former President Donald Trump posted a fake social media image of Taylor Swift endorsing him for the upcoming November election. The post appeared on Truth Social on Sunday. The image showed the pop superstar dressed in patriotic attire with a caption reading, "Taylor Swift Wants You To Vote For Donald Trump."
Antfin Singapore, part of Alibaba Group, arranged to sell a 1.54% stake in Zomato on Tuesday through block deals, anticipating raising around ₹3,400 crore. The shares were priced at ₹251.68 each, a 4% discount to the previous closing price. Antfin previously held a 4.24% stake and had sold a 2% stake earlier this year.
Kamala Harris, Democratic presidential candidate and U.S. vice president, made an unexpected appearance at the party's national convention in Chicago on Monday night. The crowd cheered as Harris promised to defeat Republican rival Donald Trump in the upcoming November election.
Biofuel producer TruAlt Bioenergy, based in Bengaluru, filed its draft prospectus with Sebi to raise funds through an IPO. The issue includes ₹750 crore fresh issue and 36 lakh shares for sale by promoters. Proceeds will be used to establish multi-feedstock operations, including grains, and support working capital and corporate expenses.
Vedanta sold 63.6 million shares of Hindustan Zinc, raising ₹3,100 crore, yet fell short of the planned ₹6,500 crore. Despite high investor interest, share prices of Hindustan Zinc and parent company Vedanta have seen significant declines. Removal of green shoe options influenced the final outcome of proceeds.
U.S. Secretary of State Antony Blinken announced on Monday that Israeli Prime Minister Benjamin Netanyahu had accepted a "bridging proposal" from Washington aimed at resolving disagreements obstructing a ceasefire deal in Gaza. Blinken urged Hamas to accept the proposal as well.
On Monday, metal stocks rose, driven by moderate valuations and an anti-dumping investigation on Vietnamese hot-rolled coil imports. The Nifty Metal Index gained 1.87%, and companies like National Aluminium and Hindalco saw significant increases. Analysts, however, remain cautious due to challenges from Chinese imports despite the recent valuation corrections.
Thousands of pro-Palestinian protesters gathered outside the Democratic National Convention (DNC) on Monday to oppose the Biden administration's stance on Israel amid the ongoing war in Gaza. The demonstration, organized by the group "March on the DNC," included a one-mile march from a park to the Chicago convention arena shortly before President Joe Biden's scheduled address.
Corporate India's June quarter earnings expectations hit a low not seen since the immediate aftermath of the Covid shutdowns. The upgrade-to-downgrade ratio fell to 40%, reflecting a slowdown in demand, with 393 companies facing downgrades and 247 companies seeing upgrades. Analysts expect the earnings situation to improve from September 2024 onward.
Republican presidential candidate Donald Trump stated on Monday that he would consider terminating a $7,500 tax credit for electric vehicle (EV) purchases if elected. He also mentioned being open to appointing Tesla CEO Elon Musk to a cabinet or advisory role, calling Musk a "very smart guy."
Oil prices declined with Israel's acceptance of a U.S. proposal to resolve Gaza ceasefire issues, easing supply concerns. Brent crude and U.S. crude both experienced minor declines. Libya’s Sharara oilfield resumed production. U.S. crude stocks dropped, but economic worries in China and U.S. interest rate expectations impacted market sentiment.
Domestic markets ended almost flat on Monday after a significant rise on Friday, supported by global market recovery but hindered by underperformance in banking. Analysts recommended a 'buy on dips' approach, focusing on IT and FMCG sectors. The Indian rupee strengthened against the US dollar amid weakening of the dollar and declining oil prices.
U.S. stocks advanced on Monday, extended by gains in the tech-heavy Nasdaq. Investors looked ahead to the Democratic National Convention and the Jackson Hole Economic Symposium. Expectations grew for a Federal Reserve rate cut in September, boosting market confidence. Nvidia and Microsoft shares contributed significantly to the positive momentum.
Chauncey McLean, president of Future Forward, the main outside spending group backing Kamala Harris' presidential bid, revealed that their internal polling shows a much closer race than public polls suggest. Speaking at an event hosted by the University of Chicago Institute of Politics on Monday, McLean highlighted this concern.
The benchmark indices saw a flat closing on Monday with investors waiting for more triggers. Key focus areas were IndusInd Bank's RBI nod for a mutual fund business, Saraswati Saree Depot's 30% premium debut, and movements in Zomato, Poly Medicure, Motilal Oswal, Hi-Tech Pipes, Sapphire Foods, and HCL Tech shares.
There are some early-on warning signs that can prevent your computer from getting hacked, and even if it is, there are certain ways you can easily combat this issues. Antivirus may not always keep you safe, but maintaining certain things can keep your computer safe, and also give you an early warning of an intrusion, malware, trojan horse or others.
Happy Tuesday! The market share cap on Unified Payments Interface (UPI) apps may not be implemented before the deadline. Details on this and more in today’s ETtech Morning Dispatch.
Asian stocks climbed following an optimistic Wall Street session, driven by hopes that the Federal Reserve may soon hint at interest rate cuts. Gains were noted in Japan, South Korea, and Australia. Key updates from China and the Reserve Bank of Australia are awaited, along with the yen's performance ahead of the Bank of Japan's statement.
Mike Lynch is missing after luxury yacht capsized off Sicily. Lynch’s wife has survived.
Donald Trump has bluntly spoken up about Kamala Harris' image in the Time magazine cover, and has gone as far as stating that he is 'better looking', while mocking those who call her “beautiful”. This statement has irked many Democrats and netizens who are angered at such remarks, that too by a US polls 2024 candidate and a former US President.
The Nifty 50 experienced a consolidation, closing slightly higher by 31.50 points. Stocks like Anupam Rasayan and Bombay Burmah indicated bullish signals, poised for potential breakouts. Anupam Rasayan showed promising technical indicators, while Bombay Burmah is positioned to benefit from increased volumes and favorable market conditions.
TCS offers salaries in the range of Rs 9-11 lakh per annum under ‘Prime’, a programme it launched last year. The firm has expanded its scope this year, adding newer technologies such as artificial intelligence (AI), generative AI (GenAI) and machine learning (ML).