JPMorgan Chase has significantly outpaced its major competitors, boasting a market value exceeding the combined worth of Bank of America, Citigroup, and Wells Fargo. The bank’s first-half profits reached $30 billion, doubling its closest rival’s earnings.
Tech Mahindra’s Q1 revenue saw a slight dip, decreasing by 1.4% sequentially and 1% year-on-year in constant currency, signaling ongoing softness in client spending. The company’s workforce was optimized, resulting in a headcount reduction of 622, bringing the total to 79,987. Utilisation rates fell to 85%, while attrition edged up to 12.6% amidst the prevailing…
SBI is set to raise Rs 45,000 crore from capital markets, including a Rs 25,000 crore QIP, potentially the largest in India. This equity dilution of 3.3% follows board and shareholder approvals. The floor price is Rs 811.05 per share, with a possible 5% discount.
Brokerage firms have varying outlooks on several companies. JP Morgan downgraded Tata Technologies due to mixed Q1 results, while Goldman Sachs is optimistic about Ola Electric’s path to profitability. JM Financial initiated coverage on Kalyan Jewellers with a buy rating, citing growth opportunities.
Donald Trump announced on Truth Social that Coca-Cola has agreed to replace high-fructose corn syrup with real cane sugar in its US soft drinks, following his request. Coca-Cola acknowledged Trump’s support but didn’t confirm the change. The potential switch sparks debate over economic impacts and health implications, as Trump’s history with Diet Coke adds intrigue.
Crisil projects India’s consumer inflation to ease to 4% in FY26, driven by softer food prices due to a favorable monsoon and lower global commodity prices. This outlook may allow the MPC to cut the repo rate once more this fiscal year. While GDP growth is projected at 6.5%, risks remain from global factors and…
President Trump has expressed his dissatisfaction with Federal Reserve Chair Jerome Powell’s performance, describing it as “lousy.” While dismissing immediate plans for Powell’s removal, Trump hinted at potential changes when Powell’s term concludes next year. Trump has been advocating for interest rate cuts to stimulate economic growth, leading to increased tension between the White House…
India has significantly increased the flying rights for Kuwait, raising weekly seat capacity by 50% to 18,000. This agreement, signed by aviation officials from both nations, marks Kuwait’s first bilateral capacity increase in 18 years. The move comes amid rising travel demand and aligns with India’s policy to bolster its carriers’ international presence through strategic…
US wholesale inflation remained flat in June, despite concerns over President Trump’s tariffs. The producer price index showed a 2.3% year-on-year increase, the smallest since September. While some sectors saw tariff impacts, like furniture, others, such as steel, defied expectations. Retailers are feeling the squeeze, and the Federal Reserve is monitoring the impact on inflation.
