FOUR SET LOSS
China dials up scrutiny of Big Four audit firms after Evergrande probe, sources say
China's Ministry of Finance is intensifying checks on Big Four auditing firms like Deloitte, EY, PwC, KPMG for local companies. Focus on audits of financial firms and highly leveraged companies. Regulatory probe into intermediaries like auditors following China Evergrande scandal. Increased scrutiny to restore confidence in stock markets and assess financial sector vulnerabilities.
"A great learning experience, we carry a lot of belief": Afghanistan skipper Rashid Khan after loss to SA in T20 WC semis
In the ICC T20 World Cup, Afghanistan faced defeat against Proteas, highlighting the outstanding performance of Kagiso Rabada, Marco Jansen, and Tabraiz Shamsi. Despite the loss, skipper Rashid Khan remains optimistic, emphasizing the team's learning experience and determination to improve for future competitions.
South Africa or Afghanistan set to create history with first ever T20 WC final appearance
The ICC T20 World Cup semifinal between South Africa and Afghanistan at Tarouba presents a historic opportunity for both teams. With South Africa's unbeaten record and Afghanistan's impressive journey, the match is set to be a clash of strong batting and bowling lineups, with key players like Klaasen and Khan expected to shine.
T20 World Cup: South Africa replace "chokers" with "clutch", set historic record
South Africa made history in the ICC T20 World Cup, securing the most wins in a single edition by defeating the West Indies in the Super Eights. They achieved their seventh win after chasing down a revised target of 123 runs in 17 overs due to rain interruption. The Proteas have displayed clutch performances throughout the tournament, securing crucial victories to reach the semifinals undefeated.
European shares set for weekly losses
European shares slip amid French political uncertainty. Technology stocks rise, auto shares fall. Leftwing parties challenge National Rally, Crest Nicholson rejects Bellway's offer.
Japan's Nikkei falls as caution sets in before key central bank decisions
Japan's Nikkei share average fell 0.66% to 38,876.71, dragged down by Fast Retailing. The broader Topix slipped 0.73% to 2,756.44. Market analysts await key updates on Bank of Japan's policy.
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NEET-UG row: Education ministry sets up 4-member panel to review grace marks to over 1500 candidates
The NEET-UG medical entrance exam faced allegations of mark inflation, prompting the NTA to form a panel to review grace marks for over 1,500 candidates. Political parties, including AAP and Congress, raised concerns about irregularities, with demands for a re-exam and probes. The NTA denied any wrongdoing, attributing higher scores to textbook changes and grace marks for time lost at exam centers. Calls for a re-exam persist.
Indian women go down 2-4 to Germany, suffer seventh consecutive loss in FIH Pro League
The Indian women's hockey team suffered a seventh consecutive defeat in the FIH Pro League, losing 2-4 to Germany despite initially leading 2-0 with goals from Sunelita Toppo and Deepika. Germany came from the behind to win with goals from Viktoria Huse, Stinne Kurz, and Jule Bleuel. India previously lost to Belgium, Argentina, Germany, and Great Britain.
Medvedev knocked out of French Open by De Minaur
The Russian fifth seed, a former US Open champion and six-time Grand Slam finalist, started strongly but slipped to a 4-6, 6-2, 6-1, 6-3 defeat.
The four battleground states that can swing election results
BJP strategizes to secure a third term, relying on allies to offset potential losses. Key states like Bihar, West Bengal, Odisha, and Maharashtra will influence Lok Sabha results. Challenges from regional parties, TMC in West Bengal, BJD in Odisha, and political uncertainties in Maharashtra may impact BJP's performance.
FII action, rupee movement among 11 factors to set D-Street mood this week
Nifty closed the week with a 2.2% increase despite notable ups and downs, as seen in the India VIX reaching a 52-week peak with almost a 10% rise over four sessions. As trading resumes next Monday, numerous significant local and international events scheduled throughout the week are anticipated to influence market dynamics.
Oil set for weekly loss as markets worry about demand
Oil prices rose on concerns of high interest rates impacting fuel demand. Federal Reserve's interest rate policy, US crude oil inventories, and statements from Fed Chair Jerome Powell influenced market sentiment. Analysts anticipate market shifts as OPEC+ considers extending production cuts and reports emerge of oil overproduction by Russia.
Visa fee hike hits IT cos; Airport cab fares set to rise
Happy Friday! The hike in H-1B visa fee will hurt IT service companies severely, experts have warned. This and more in today’s ETtech Morning Dispatch.
Wipro promotes veterans; Paytm & Nykaa Q4 financials
Happy Thursday! Wipro CEO Srinivas Pallia is betting on internal talent to propel growth. This and more in today’s ETtech Morning Dispatch.
Brutal heat in large parts of India; temperatures set to rise further, says IMD
Official data showed that at least 24 places in Delhi, Punjab, Haryana, Rajasthan, Uttar Pradesh, Gujarat, and Madhya Pradesh recorded maximum temperatures of 45 degrees Celsius or above on Wednesday.
In the fight between bulls and bears, these set of companies always win: 4 stocks with upside potential of up to 21%
Recently the finance minister, Nirmala Sitharaman spoke about the risk of unchecked explosion of future and option trading. Before that, there was a SEBI study, which mentioned that 90 % of the individuals who trade in future and options ( F&O) end up losing money; only 10% are able to make profit. But there is another side to the story. First is that trade volumes in this segment are only going to rise. Second, what is the common between both the losers and winners? They both brokerage to their stock broker and also pay transaction fees to the stock exchange. So, who is the constant and permanent winner? The stock exchange and the stock broker. Yes, policy makers will bring in more checks, but the hard fact is that those checks will only be partially effective for a short period of time as the turnover in the F&O will continue to rise for the foreseeable future. One can control anything, but not the hope and greed on the street.
Amazon, Flipkart to have quick commerce play in certain categories: Delhivery CEO Sahil Barua
Quick commerce platforms like Zepto, Blinkit and Swiggy Instamart are venturing into ecommerce categories such as fashion, electronics, home appliances and luggage, and go beyond just daily essentials and groceries.
L&T, SBI and M&M are top pickings. Dharmesh Shah explains why
Dharmesh Shah says by the dip should be the strategy and going forward, 22,500 has been acting as a stiff resistance for the Nifty for a long time. We believe the market should surpass this level of 22,500 and we should be challenging the life-high in the next week which is around 22,800. He recommends M&M, SBI, and L&T for specific price targets, emphasizing their positive prospects in the market.
Mike Tyson vs Jake Paul: Texas sets terms for competitive bout with heavier gloves, shorter rounds
The upcoming fight between Mike Tyson and Jake Paul in Texas this summer has been approved as a competitive boxing match, not an exhibition. The terms include shorter rounds and heavier gloves. The fight, scheduled for July 20 at AT&T Stadium, will have eight two-minute rounds instead of the usual three-minute rounds, and the gloves will weigh 14 ounces instead of 10. This decision aims to reduce the power of punches.
SC allows Pernod Ricard's petition seeking lesser penalty for loss of liquor in transit
The issue before the apex court was on the applicability of the relevant rule for imposition of penalty - whether the Madhya Pradesh Foreign Liquor Rules 1996 that existed when the violation occurred during the company’s license period of 2009-10 or the 2011 amended rule when proceedings for penalty were initiated and demand notice was issued.
Khajuraho 'Wonder': BJP nominee set to get a walkover in absence of main opposition
Congress had given Khajuraho seat to Samajwadi Party as part of the INDIA bloc seat-sharing, possibly due to a sizable presence of Yadav voters, who form the bulk of SP support base, in the constituency and its proximity to Uttar Pradesh, the SP's home state and main area of influence.
Intel slides 7% as foundry business loss spotlights wide gap with rival TSMC
Intel faces challenges with chip-making, resulting in a 7% stock drop. Analysts anticipate a $12 billion market value loss, while CEO Gelsinger foresees losses peaking in 2024 before breaking even by 2027.
Sudden storm kills four, injures 100 others in Bengal's Jalpaiguri; Guv, CM to visit affected areas
Several hutments and houses were damaged, trees uprooted and electric poles came crushing down as strong winds accompanied by hail struck most parts of the district headquarters town and many areas of neighbouring Mainaguri. Among the most affected areas were Rajarhat, Barnish, Bakali, Jorpakdi, Madhabdanga and Saptibari.
Gold faces first weekly loss in four on dwindling rate cut bets
Gold prices held steady on Friday as they looked set to log their first weekly drop in four as investor hopes of a U.S. interest rate cut in June took a hit after data over the week showed bubbling price pressures.
Does hydrogen water live up to the hype?
Hydrogen water is made by simply adding more H's into your H2O. But when it comes to its purported health advantages, researchers are skeptical. Hydrogen water is often packaged in sleek drink pouches or aluminum cans. Some brands sell dissolvable hydrogen tablets that you can plop into your water, or high-tech bottles that you fill with regular water and then infuse with hydrogen by pressing a button.
"Will look to win series 3-2": Ben Stokes after losing Rajkot Test to India by 434 runs
Following a 434-run loss to India, England's skipper Ben Stokes remains determined to win the series 3-2. Ravindra Jadeja, Rohit Sharma, Shubman Gill, Yashasvi Jaiswal, and debutant Sarfaraz Khan played key roles in India's victory.
Gold set for second weekly loss as rate cut expectations dampen
Data showed that U.S. producer prices increased more than expected in January. Another report on Tuesday showed that U.S. consumer prices rose more than expected last month. Even though gold is considered an inflation hedge, higher interest rates dim non-yielding bullion's appeal.
Blue Tokai revenue surges 70% in FY23; loss up 3.5 times as firm expands footprint
Specialty coffee brand Blue Tokai saw its total expenses balloon to Rs 166 crore in FY23 from Rs 90 crore in the previous fiscal primarily on account of an increase in costs pertaining to raw materials, employee salaries, and rents.
Novak Djokovic marches closer to 11th Australian Open title, battles past Taylor Fritz in four sets
Novak Djokovic continued with his bid for a record-extending 11th Australian Open title with a win over Taylor Fritz. Here's everything to know more
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