Wall Street’s main stock indexes fell on Friday, pressured by technology stocks such as Dell and Nvidia, while investors parsed inflation data showing tariffs have started feeding into prices. Dell fell 8.4% and led declines on the S&P 500 after the personal computer maker forecast quarterly profit below estimates. The broader technology sector shed 1.7%, […]
BYD’s quarterly profit falls for first time in 3-1/2 years as price wars bite
Chinese electric vehicle maker BYD’s quarterly profit fell for the first time in more than three years, as its expansion hit a speed bump amid a government campaign against price wars. Net profit at the world’s biggest EV producer totalled 6.4 billion yuan ($894.74 million) in the second quarter, it reported on Friday, down 29.9% […]
Dell shares crash 10% as AI server costs crush margins despite strong demand
Shares of Dell Technologies fell about 10% on Friday, as high manufacturing costs for AI-optimized servers and intensifying competition overshadowed the company’s bullish demand forecast for artificial intelligence infrastructure. The stock is set to lose roughly $8 billion of its $91 billion market capitalization if losses hold. AI server demand remained a bright spot for […]
DBS India FY25 profit up 81% at Rs 684 crore
DBS Bank, India’s largest foreign bank by number of branches reported a 81% growth in net profit year on year led by a strong growth in interest income even as asset quality remained stable. Net profit increased to Rs 684 crore in the year ended March 2025 from Rs 377 crore a year ago, results […]
India’s financial sector profits set to double by 2030; UBS sees NBFCs outpacing banks
India’s financial-services industry is on track to deliver one of its biggest earnings expansions yet, with profits projected to nearly double by the end of the decade. The brokerage expects sector earnings to grow at a compound annual rate of 13% between FY25 and FY30, reaching about Rs 11.3 trillion from Rs 6.1 trillion in […]
BSE and NSE’s combined average daily turnover in cash market slides 32% YoY in July
Even as market regulator Sebi pushes to deepen cash markets and curb excessive speculation in the futures & options (F&O) segment, July data reveals that the combined Average Daily Turnover (ADT) of the BSE and NSE slipped 32% year-on-year to Rs 1.02 lakh crore. The turnover in the equity cash segment saw a decline of […]
LIC pays Rs 7,324 cr to Finance Minister as dividend for FY25
Life Insurance Corporation of India (LIC) on Friday said it has paid a dividend cheque of Rs 7,324.34 crore to Finance Minister Nirmala Sitharaman for the 2024-25 financial year. The dividend was approved by LIC in its annual general meeting held on August 26, 2025, the state-owned insurance firm said in a statement. The dividend […]
Ant Group quarterly profit falls 60% to $663 million
Chinese fintech company Ant Group posted a 60.5% slide in net profit to 4.74 billion yuan ($662.7 million) in the three months to March 31, according to Reuters calculations based on earnings reported by stakeholder Alibaba on Friday. Alibaba said the decrease was mainly attributable to “investments in new growth initiatives and technologies, and the […]
China’s Alibaba misses first-quarter revenue estimates
China’s Alibaba missed market estimates for quarterly revenue on Friday as the company’s e-commerce business grapples with tough competition and choppy consumer demand, overshadowing gains in its cloud computing business. The company reported total revenue of 247.65 billion yuan ($34.62 billion) in the first quarter ended June, compared with an estimate of 252.92 billion yuan, […]
China stocks post biggest monthly gain in 11 months
China stocks closed up on Friday, capping their strongest monthly gain since September 2024, as abundant liquidity continues to drive the rally despite warnings from tech firms following recent price surges. Hong Kong shares ended the week slightly lower. ** China’s blue-chip CSI300 Index closed 0.7% higher, while the Shanghai Composite Index was up 0.4%. […]