Byju’s FY22 losses balloon to Rs 8,245 crore
India Business News: Byju's losses for FY22 reached Rs 8,245 crore, a significant increase from the previous year. Revenue from operations grew to Rs 5,014 crore. The audi Key Points
Times Of IndiaByju’s FY22 results: losses balloon to Rs 8,245 crore - details here
India Business News: Byju’s FY22 results: Byju’s parent company, Think & Learn, has submitted its audited financials for the fiscal year 2022 to the registrar of companies (RoC). The operating revenue for FY22 was reported at Rs 5,014 crore, with losses reaching Rs 8,245 crore. Byju’s total revenue, according to regulatory filings, was nearly Rs 5,300 crore. The operating revenue of Byju’s witnessed a growth of 119% in FY22, while losses saw an increase of 80% during the same period, according to an ET report. Key Points
Times Of IndiaMarkets are rallying. How to make the most of them.
Bonds haven’t gained nearly as much as stocks this year. Put losses to work now to cut your taxes. Key Points
mintFinancials, consumer stocks drag sensex, Nifty to third weekly loss
India Business News: Indian shares fell for the third consecutive week, with financials and consumer stocks leading the losses. The Nifty 50 index ended 0.59% lower at 19, Key Points
Times Of IndiaOil heads for third straight weekly loss as economic worries persist
Oil prices held steady in early trading on Friday, but were set for a third straight week of losses after markets witnessed dramatic drops on fears of a weakening U.S. economy and slowing Chinese demand. Key Points
Reuters
Zelensky says 31,000 Ukrainian soldiers killed in war with Russia
Russia does not disclose military losses, which it regards as secret. Both sides regularly describe the other's military losses as vast. | World News Key Points
Hindustan TimesLong bonds’ historic 46% meltdown rivals burst of dot-com bubble
The current losses in long-maturity debt more than double the next biggest slump in 1981, when then Fed Chair Paul Volckers campaign to break the back of inflation drove 10-year yields to almost 16%. It also surpassed the 39% average loss in seven US equity bear markets since 1970, including last years 25% slump in the S&P 500 when the Fed started to lift rates from near zero. Key Points
Economic TimesPaytm Q1FY24: Consolidated net losses decline by 44.5% y-o-y but widen sequentially
India Business News: One 97 Communications which owns finetch major Paytm reported a 44.5% year-on-year decline in consolidated net losses in the June quarter to Rs 358.4 Key Points
Times Of IndiaYour Questions Answered: How does tax-loss harvesting work and can it minimise my tax outgo?
Tax-loss harvesting is a strategy to minimize tax liability by selling underperforming investments to offset gains. It helps rebalance portfolios and reduce overall tax burden by offsetting short-term losses against gains and long-term losses against gains. Key Points
mintCanada unemployment rises for first time in nine months
The net job losses came as a surprise, after robust employment gains in recent months. Since last September about 400,000 new jobs had been created. | World News Key Points
Hindustan Times
Bharti Airtel board to consider issuing dividend, Africa arm records $227 mn profit for Q4
Airtel Africa’s revenue was up 17.6% in FY23 to $5.2 billion, while it was up 9.7% on-year, to $1.3 billion in the quarter ended March 2023 Key Points
mintCrude oil heads for third straight weekly loss as economic worries persist
Brent crude rose 14 cents, or 0.2%, to $72.64 a barrel at 0002 GMT, while U.S. West Texas Intermediate was up 17 cents, or 0.3%, at $68.73 a barrel after four straight days of losses. Key Points
FinancialexpressByju's financial year 2022 losses cross Rs 8,000 crore, up 80% in year
India Business News: Byju's losses surge to Rs 8,245 crore in FY22. Auditor cites "material uncertainty" over loan repayment. Byju's valuation drops to $1 billion. Byju's Key Points
Times Of IndiaIndia's central bank likely sold US dollars to limit rupee's losses
MUMBAI (Reuters) - The Reserve Bank of India likely sold U.S. dollars on Monday to curb losses in the rupee, as the currency opened trading near its lifetime low, four traders told Reuters. The rupee Key Points
ThePrintWhy should you never borrow to invest in the stock market? MintGenie explains
Investing with borrowed money is never a prudent decision. Even the most astute investors, who allocate their funds to some of the most reliable stocks, are susceptible to losses because it’s impossible to accurately predict short-term stock behaviour. Key Points
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US banks shrug off turmoil to ace Fed's annual health checks
Big U.S. banks sailed through the Federal Reserve's annual health check on Wednesday, in a vote of confidence for a sector still recovering from turmoil earlier this year and facing an uncertain economic outlook. Key Points
ReutersTwo million killed, $4.3 trillion in damages from extreme weather over past half-century: World Meteorological Organisation
According to a UN report, extreme weather, climate and water-related events over the past half-century around the globe have killed more than 2 million people and caused economic damage of $4.3 trillion. Key Points
The Hindu12 companies significantly cut down losses in FY23; time to buy them?
Analysis showed that 12 loss-making companies, including Jet Airways India, PB Fintech, and Paytm parent One 97 Communications, have considerably reduced their losses quarter after quarter. Jet Airways managed to narrow losses to INR55 crore ($7.4m) in Q1 FY23, from INR390 crore in Q1 FY20. Jaiprakash Associates improved its financials after the sale of non-core assets, trimming losses to INR156 crore in Q1FY23. Experts recommend building a long-term portfolio of quality companies with lean balance sheets, capital efficiency and growth longevity, considering sector-specific prospects and global growth. Key Points
Economic TimesGovt invites over 1,000 farmers to special prog on I-Day, to launch AI-powered pest mgmt system
The Ministry of Agriculture and Farmers' Welfare has invited over 1,000 farmers and their spouses to the National Capital for a two-day event coinciding with the 78th Independence Day celebrations. The beneficiaries of schemes like PM-Kisan Samman Nidhi and PM Fasal Bima Yojana will meet Agriculture Minister Shivraj Singh Chouhan on August 15. During the event, Chouhan will launch the National Pest Surveillance System (NPSS), a digital tool using AI and machine learning to provide pest management advisories. The NPSS aims to minimize crop losses and enhance productivity with real-time data and advanced analytics. Key Points
Economic TimesMarkets recoup initial losses to end in green; SBI, Reliance among top gainers
Benchmark indices Sensex and Nifty reversed losses and closed higher for the second straight day on Wednesday following buying in energy, metal and... Key Points
The Tribune India
UBS agrees with Swiss government on Credit Suisse loss guarantee
UBS has signed an agreement with the Swiss government to cover up to 9 billion Swiss francs ($10.00 billion) in losses from its emergency takeover of Credit Suisse, the country's largest bank and government said. Key Points
The Indian ExpressFed Posts Largest-Ever Annual Operating Loss
The central bank’s deficit of $114.3 billion last year resulted from its efforts to stimulate the economy and then stamp out inflation. Key Points
mintRupee edges 3 paise lower at 83.26 against US dollar
Mumbai, Nov 17 (PTI) The rupee declined by 3 paise to 83.26 against the US dollar on Friday as a firm greenback in the overseas markets and losses in domestic equities weighed on investor sentiment. Global crude oil prices trading near four-month lows helped the rupee restrict losses, forex dealers said. At the interbank foreign […] Key Points
ThePrintSensex crashes 700 points: 5 key factors behind bear attack on D-Street
Indian equity indices plummeted with Sensex tanking over 600 points, Nifty below 21,900. BSE market cap dropped Rs 3.71 lakh crore. IT stocks weakened, FIIs sold, and oil prices edged down. Nifty's support level at 21,915 breached. Key Points
Economic Times31,000 Ukrainian troops killed since the start of Russia's full-scale invasion, Zelenskyy says
The Ukrainian leader said that he wouldn't disclose the number of troops that were wounded or missing. It is the first time that Kyiv has confirmed the number of its losses since Moscow started the full-scale invasion on February 24, 2022. Key Points
Economic Times
Dodge the Downturns: 3 investment errors you must avoid in 2024
In 2023, investors made mistakes due to geopolitical tensions and market slowdowns. Chasing trends and neglecting diversification resulted in substantial losses. These errors have motivated investors to navigate a smarter course in 2024 and learn from their missteps. Key Points
mintSensex, Nifty end lower as IT shares drag ahead of Fed’s policy decision
The Nifty 50 closed 0.32% lower at 18,089.85, while the S&P BSE Sensex lost 0.26% to 61,193.30. The Sensex snapped an eight-day winning streak while the Nifty logged losses after six sessions of gains. Key Points
India TodayCrude oil steadies as investors take stock of banking crisis
Brent crude futures edged up 2 cents to $74.72 a barrel by 0133 GMT, having snapped three days of losses to settle 1.4% higher on Thursday. Key Points
FinancialexpressIndia suffered 8% GDP loss in 2022 because of climate change: study
India Business News: This article discusses a report by the University of Delaware's Gerard J. Mangone Climate Change Science and Policy Hub ahead of COP28. The report, ti Key Points
Times Of IndiaVodafone Idea Q4 Preview: Co likely to remain in red on subscriber losses, muted revenue
The telecom operator is expected to post a consolidated net loss of Rs 7,524 crore, according to the average of estimates given by 4 brokerages. This would be higher than the loss of Rs 6,563 crore posted a year ago. On a sequential basis, however, the losses are seen narrowing. The company will release its quarterly numbers on Thursday. Consolidated revenue for the quarter is seen rising 3% on year to Rs 10,543 crore, but falling by around 1% sequentially. Key Points
Economic Times
El Nino effect 2023-2024: Weather forecast, economic impact, key details
El Nino has a wide range of repercussions around the world. The forecast for this year's climate phenomenon is not a good one. Key Points
Economic TimesMonsoon disruptions: Delhi, north India floods cause estimated economic loss worth ₹10000-15000 crore
Torrential rainfall in Delhi and north India caused extensive flooding, resulting in losses of at least ₹10,000 crore. Himachal Pradesh was severely affected with estimated losses of ₹3,000-4,000 crore. Key Points
mintBankrupt Three Arrows' liquidators seek $1.3 bln from fund's founders - source
Liquidators at bankrupt cryptocurrency hedge fund Three Arrows Capital (3AC) are seeking to recover $1.3 billion from the co-founders, a person familiar with the matter told Reuters on Tuesday, an amount that reflects losses they allegedly racked up before the firm collapsed last year. Key Points
ReutersRetail margin on diesel turns positive for the first time in five quarters
Oil marketing companies are estimated to have made a profit of 50 paise per litre on the retail sale of each litre of diesel in the fourth quarter, compared to a loss of Rs 6.5 per litre in the third quarter. In the second and third quarters, the losses were Rs 10 and Rs 12.5 per litre respectively. In the January-March period of 2022, the loss was Rs 2.6 on each litre of diesel. Key Points
Economic TimesSensex, Nifty End Lower For Seventh Straight Day As IT Stocks Tumble
The BSE Sensex declined by 175.58 points or 0.30 per cent to close at 59,288.35 with 17 of its shares posting losses. During the day, it tanked 526.29 points or 0.88 per cent to 58,937.64. Key Points
NDTV.com
SEBI aims to safeguard retail investors through curbs on derivatives trading
India's market regulator, the Securities and Exchange Board of India (SEBI), plans to link the amount of equity derivatives trading allowed for retail investors to their overall wealth. This move aims to mitigate risks for smaller investors who incur losses in derivatives markets. Key Points
mintOn the brink of another financial crisis: Why people are worried about banks
The sudden collapses of Silicon Valley Bank and Signature Bank - the biggest bank failures since the Great Recession - have put the precariousness of lenders in stark relief. First Republic Bank was forced to seek a lifeline this past week, receiving tens of billions of dollars from other banks. And fears about the stability of the banking system hit Credit Suisse, the battered European giant. Key Points
Economic TimesSensex crash today: Why is Indian stock market down? 4 major reasons that wiped off 3.71 lakh crore
Sensex crash today: Sensex shed over 600 points to reach below 72,200 level. Nifty gave up 21,900 mark. What is happening? Key Points
Hindustan TimesSensex, Nifty hit new all-time high levels on gains in banking, IT shares
The 30-share BSE Sensex jumped 408.86 points or 0.55 per cent to settle at a new record high of 74,085.99.. Benchmark Sensex and Nifty recouped from early losses... Key Points
The Tribune IndiaJapan's Nikkei hits record high after Nvidia beat, rest of Asia muted
By Kevin Buckland TOKYO (Reuters) - Japan's Nikkei share average topped its all-time peak on Thursday, after unexpectedly strong revenue forecasts from U.S. chip designer Nvidia lifted Asian tech Key Points
ThePrintOil steady as investors weigh US rate cut outlook with Middle East tensions
By Robert Harvey LONDON (Reuters) -Oil prices steadied on Wednesday, stabilising from losses in the previous session, as growing expectations that cuts to U.S. interest rates will take longer than Key Points
ThePrintStock market today: Global shares mostly rise after Wall Street rebound led by tech stocks
International Business News: Global shares mostly rose on Friday, driven by optimism about technology shares following a Wall Street rally led by big tech stocks. The stock market today saw gains in major indices across the globe, including the CAC 40, DAX, and FTSE 100. US shares were also set to open slightly higher, with Dow futures and S&P 500 futures showing positive signs. Japan's benchmark Nikkei 225 also closed higher. However, Aozora Bank's shares plunged after reporting losses on its US property investments. The bank attributed the losses to high interest rates and a weaker commercial property market during and after the pandemic. In other news, Australia's S&P/ASX 200 and South Korea's Kospi performed well, while Hong Kong's Hang Seng and China's Shanghai Composite index experienced declines. On Wall Street, US stocks bounced back in a widespread rally, with the S&P 500, Dow, and Nasdaq composite all posting gains. Traders are anticipating a possible interest rate cut by the Federal Reserve in May. Energy trading saw an increase in benchmark US crude oil prices, while currency trading remained relatively stable. Key Points
Times Of IndiaUS dollar holds losses after inflation data
International Business News: The US dollar held losses on Friday, after data showed inflation rose modestly in December but was trending lower. The Federal Reserve is expected to cut interest rates based on the trend of lower inflation. Find out more about the latest inflation data and its impact on the US dollar. Key Points
Times Of India24 soldiers dead in worst single-day loss for Israel
195 Palestinians dead in 24 hours, toll 25,490. Twenty-four Israeli soldiers were killed in Israel’s worst day of losses in Gaza, the military said on... Key Points
The Tribune IndiaFitch says US regional bank challenges to persist in 2024
Rating agency Fitch said on Wednesday that U.S. regional banks will face continued challenges in 2024, with banks focused on commercial loan growth disproportionately disadvantaged. Key Points
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AIG beats Q3 profit estimates on general insurance, life and retirement gains
American International Group (AIG.N) exceeded third-quarter profit expectations on Wednesday, driven mainly by growth at its general insurance and life and retirement units. Key Points
ReutersIndian stocks rise after US inflation data breather
India's blue-chip stocks rose on Friday after logging losses for the past six sessions, after U.S. treasury yields retreated following weaker-than-expected inflation data, easing some rate-related worries. Key Points
ReutersIndustry seeks 15 per cent concessional tax rate extension, set-off of losses
Industry bodies in India have submitted their wish list for the interim budget for 2024-25. They are requesting an extension of the concessional tax rate of 15% for domestic infrastructure companies and non-corporate taxpayers, exemption from withholding tax on payment of interests on overseas bonds with a maturity period of more than five years, and the ability to carry forward and set-off business losses for the services sector. Key Points
Economic Times