The California-based company said it will lay off 13% of its workforce, or 660 employees, globally in a bid to streamline operations. It expects to book about $11 million to $13 million in restructuring charges in the fourth quarter.
Following his presidential election victory, Donald Trump is gearing up to assemble his cabinet and appoint key administration officials. Potential contenders for prominent positions, including defense, diplomacy, and economic policy, are emerging from his circle of advisors and allies.
Niva Bupa Healthcare has announced its initial public offering (IPO), aiming to raise Rs 800 crore. The IPO, open for subscription until November 11, includes a fresh issue and an offer for sale by existing shareholders. The company plans to use the proceeds to strengthen its capital base and support future growth.
Jim O'Neill, Former Commercial Secretary to the UK Treasury, cautions against prematurely interpreting the stock market's positive response to Donald Trump's victory. While acknowledging the initial optimism surrounding potential tax cuts and fiscal stimulus, he emphasizes the uncertainty surrounding Trump's unpredictability and the potential negative impact of protectionist policies on global trade and inflation.
But we are still grappling with a lot of challenges over here. The most important being slowdown in earnings, very high valuation, and continuous FII selling. So, these things are not going to change with a Trump victory.
Mahindra and Mahindra (M&M) is set to announce its second-quarter results, with analysts predicting healthy revenue growth driven by strong tractor and automotive sales. However, profits are expected to remain flat or decline slightly due to factors like negative operating leverage and segment mix.
Australia is set to introduce legislation banning social media for children under 16. Prime Minister Anthony Albanese stated this measure aims to protect children from online harm. The law will require social media companies to enforce the ban, placing the responsibility on platforms rather than parents.
President Biden commended Vice President Kamala Harris for her leadership in a historic campaign, praising her integrity, courage, and character. He emphasized that choosing her as his running mate was the best decision he made, highlighting her representation of the American story and her commitment to fighting for all Americans.
Tata Steel Ltd. swung back to profitability in the September quarter, reporting a net profit of Rs 833 crore compared to a loss in the same period last year. Despite a 3% YoY decline in revenue, the company's EBITDA reached Rs 6141 crore with margins at 11.4%. The India business saw a 5% revenue dip, while NINL's revenue increased.
Indian stock markets surged over 1% on Wednesday, propelled by Donald Trump's US election victory. Analyst Priyank Upadhyay recommends buying opportunities in Tata Steel and Apollo Hospitals, citing technical indicators suggesting upward momentum. However, he advises a cautious stance on Delta Corp until a stronger bullish signal emerges.
The second-quarter earnings season is in full swing, with 166 companies set to release their July-September 2024 results. Key players like M&M and Trent are anticipated to post robust revenue growth, driven by strong performance in their respective sectors. While M&M's profits are projected to remain steady, Trent's bottom line is expected to see significant improvement.
India's vegetable oil imports are projected to decrease to 15 million metric tons in the 2024-25 season due to anticipated growth in domestic production fueled by favorable weather conditions. This follows an estimated 16 million tons of imports in the 2023-24 season, down from 16.5 million tons the previous year.
ACME Solar raised Rs 1,300.5 crore from 58 anchor investors ahead of its IPO, selling 45 million shares at Rs 289 each.
Four companies have received approval from SEBI for their IPOs. These companies are Rubicon Research, Sai Life Sciences, Sanathan Textiles and Metalman Auto. The IPOs will consist of fresh issues and offers for sale. The companies will raise funds from the public market.
Oil prices saw a slight increase on Thursday, recovering from a sell-off sparked by the U.S. election. Concerns over potential oil supply disruptions due to a Trump presidency and Hurricane Rafael in the Gulf of Mexico overshadowed a stronger dollar and increased U.S. crude inventories.
Gold prices remained relatively stable as the dollar strengthened following Donald Trump's election victory. Investors are now focused on the Federal Reserve's impending rate cut decision, anticipating a 25-basis-point reduction. Trump's win and potential economic impact have raised questions about the future pace of Fed rate cuts.
The dollar surged to a four-month high after Donald Trump's victory in the U.S. presidential election. Markets reacted to expectations of policies that could accelerate U.S. growth and inflation. Trump's proposed tariffs and deregulation could impact global economies and currency markets. While the immediate impact was a stronger dollar, Trump's preference for a weaker currency adds uncertainty to long-term forecasts.
Gold and copper prices plummeted as Donald Trump's victory sent the US dollar soaring. The surge in the dollar, fueled by Trump's win and Republican control of the Senate, diminished the appeal of metals for buyers. This outcome triggered profit-taking among traders who had sought refuge in gold amidst pre-election uncertainty.
President Joe Biden has called President-elect Donald Trump to offer his congratulations and invite him to the White House to ensure a smooth transition of power. Trump has accepted the invitation and expressed his appreciation for the call. Biden also congratulated Vice President Kamala Harris on her historic campaign and plans to address the nation on Friday.
US stock market surged with Dow, S&P 500, and Nasdaq closing at all-time highs. This followed Donald Trump's victory in the 2024 US presidential election. Investors anticipate policy changes including tax cuts and deregulation. Financial sectors, particularly banks, saw significant gains. Treasury yields rose, impacting interest rates and potentially affecting small businesses.
Bitcoin surged past $75,000 for the first time following Donald Trump's US election victory. The futures market, particularly CME's basis and perpetual futures contracts, indicates a potential continuation of this rally. This surge is attributed to expectations of crypto-favorable policies under a second Trump administration.