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Asia
The Hindu BusinessLine

Sensex today | Stock Market Live: Sensex down 390 pts at open, Nifty at 23,900 as Brent Crude surges past $96

Sensex Today, Nifty 50 | Stock Market Live Updates - Find here all the live updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for July 23, 2026. The escalation in Iran-US war, falling rupee, rising crude oil prices and FPI selling continue to hurt market sentiment. Rising tensions in the Middle East increased the price of crude oil to beyond $92 per barrel. “Going forward, the volatility is expected to prevail in the market. The investors will keep an eye on the issues like oil, geopolitics, FII inflows, Q1 results and comments of global central banks.” Vikram Kasat, Head Advisory, PL Capital. Domestically, the spotlight will shift to the IT sector as investors await Infosys’ quarterly earnings, due after the close of trading, for fresh cues on demand trends and the sector’s outlook. Q1 Results Today Live Updates, 23rd July 2026: Get real-time Q1 FY27 earnings updates, profit growth, revenue numbers and management outlook of Infosys, IndiGo, Cipla, PVR INOX, Mphasis, IEX, Meesho, Cyient, Vishal Mega Mart, Coromandel International and more than 50 companies announcing Q1 FY27 earnings today. Top gainers of Nifty 50: Tata Consumer (0.89%), Bajaj Auto (0.80%), ONGC (0.58%), Hindalco (0.45%), Coal India (0.26%) Top losers: Dr Reddy’s Lab (-3.53%), Cipla (-1.26%), Infosys (-1.12%), Bajaj Finance (-1.08%), Tata Steel (-0.84%) At 9:16 am, Sensex dropped 348.13 points (-0.45%) to 76,406.92, Nifty shed 91.45 points (-0.38%) to 23,904.80 Silver imports to India plummet due to new licensing rules, causing supply shortages and rising local premiums amid steady demand. The Indian rupee is expected to remain under pressure through Thursday’s session as the worsening U.S.-Iran dispute fuels a further rally ‌in oil prices. The rupee is expected to trade in a 96.50-96.70 range, with risks ⁠tilted to the downside, although support from the Reserve Bank of India is likely to limit losses, a currency trader ‌at a private sector bank said. The currency settled at 96.5650 on Wednesday, hovering ‌near its weakest level in more than two ‌months.

Sensex today | Stock Market Live: Sensex down 390 pts at open, Nifty at 23,900 as Brent Crude surges past $96
Asia
The Hindu BusinessLine

SEBI proposes foreign investments, unhedged short positions for portfolio managers

SEBI has proposed a wide-ranging overhaul of the Portfolio Managers Regulations, allowing portfolio managers to invest clients’ funds in foreign securities and undertake limited unhedged short positions through exchange-traded derivatives. The Securities and Exchange Board of India (SEBI) has proposed allowing portfolio managers to invest clients’ funds in foreign securities and take unhedged short positions through equity exchange-traded derivatives as part of a comprehensive review of the SEBI (Portfolio Managers) Regulations, 2020 aimed at expanding investment avenues and aligning the regulatory framework with evolving market dynamics. The proposals have been put out for public consultation through a consultation paper on the draft SEBI (Portfolio Managers) Regulations, 2026. According to the consultation paper, portfolio managers are currently not permitted to invest client funds in foreign securities. SEBI has proposed permitting investments in listed foreign equity shares, listed foreign debt securities and overseas mutual funds or unit trusts registered with overseas regulators that invest in listed equity, listed debt securities and overseas listed Real Estate Investment Trusts (REITs). SEBI stated, “Currently, portfolio managers are not permitted to invest client funds in foreign securities....... it is proposed to allow portfolio managers to invest client funds in the following overseas securities. Listed equity shares. Listed debt securities. Overseas Funds.” It also added that this would enable investors to get access to foreign securities through a regulated investment professional landscape. The market regulator said the proposal would provide sophisticated investors and high-net-worth individuals access to overseas investment opportunities through regulated portfolio managers while bringing regulatory parity with mutual funds, Alternative Investment Funds (AIFs) and IFSC-based portfolio managers that are already permitted to undertake overseas investments. The consultation paper stated that investments in foreign securities would be governed under the Foreign Exchange Management Act (FEMA), 1999. Portfolio managers would be required to ensure compliance with applicable FEMA limits and reporting requirements. They would also have to obtain explicit positive consent from clients before making investments in foreign securities. SEBI has also proposed giving portfolio managers greater flexibility in the use of exchange-traded derivatives. Under the proposal, portfolio managers would be allowed to undertake a total exposure of up to 1.25 times a client’s assets under management (AUM). It stated, “Considering the maturing investment experience and growing demand for more diversified and personalised solutions, it is proposed to permit portfolio managers to invest clients’ funds in exchange-traded derivatives”. Within this overall limit, they would be permitted to take unhedged short exposure through equity exchange-traded derivatives of up to 50 per cent of the client’s AUM, in addition to derivative exposure used for hedging and portfolio rebalancing.

SEBI proposes foreign investments, unhedged short positions for portfolio managers
Asia-Pacific
The Straits Times

Orchard Central tenants from levels 5 to 12 to move out by end-November; space planned for office use

The tenants are on varying lease terms, with some expiring at the year end, others extended until the mall’s last day of operations, while others have leases that run beyond Nov 30. SINGAPORE – As early as March, there were murmurs among some tenants of Orchard Central mall about a feasibility study being done by their landlord, though no one knew what it was about or if tenants would be affected. Inquiries about their leases were met with delayed or holding responses from the leasing team, according to some tenants who spoke to The Straits Times the week of July 13. Then, a letter dated June 1 arrived from the mall’s landlord, Far East Organization (FEO), informing some tenants that they would have to vacate their units by Nov 30. The letter, a copy of which ST has seen, said that the landlord will be renovating and refurbishing the mall as part of an asset enhancement initiative, with works to commence on Dec 1. Tenants on the fifth to eighth floors, as well as levels 11 and 12, will be affected, according to those who spoke to ST. The mall’s carpark occupies its ninth floor. The tenants are on varying lease terms, with some expiring at the year end, others extended until the mall’s last day of operations, while others have leases that run beyond Nov 30. The Business Times reported on July 10 that Deloitte has secured a permanent space in Orchard Central, where it will occupy several upper-level floors. Deloitte said in a social media post the same day that the move will take place in 2027. Far East Organization, in a July 24 reply to ST, said its planned enhancements, subject to approval from the authorities, include fresh dining options, integration of new public art, and improved pedestrian connectivity to the future revamped Istana Park via a new pedestrian link bridge. The mall is currently approved for retail, F&B and lifestyle use. In-principle approval has been granted by the Urban Redevelopment Authority for the introduction of offices, alongside existing retail uses. Marc Boey, FEO’s executive director of property services, said the group believes the next phase of growth for Orchard Road will come from an even stronger mix of retail and lifestyle offerings, homes and workplaces across the precinct.

Orchard Central tenants from levels 5 to 12 to move out by end-November; space planned for office use
Europe
The Guardian

Donald Trump to impose 50% tariff on most Canadian goods, White House says

Donald Trump at the White House in Washington DC on 14 July 2026. Photograph: Graeme Sloan/Pool/Graeme Sloan - Pool/CNP/ShutterstockView image in fullscreenDonald Trump at the White House in Washington DC on 14 July 2026. Photograph: Graeme Sloan/Pool/Graeme Sloan - Pool/CNP/ShutterstockTrump tariffsDonald Trump to impose 50% tariff on most Canadian goods, White House saysTurmoil likely as Trump officials say Canada unfairly discriminated against US autos, alcohol and dairy products Donald Trump is imposing 50% tariffs on most Canadian goods in response to the country retaliating against previous US tariffs, the White House announced Monday, declaring Canada has unfairly discriminated against American cars, alcohol and dairy products. The tariffs will hit a wide range of products, the White House said, including wine, hockey sticks and cement. They also include goods previously protected from import taxes under the United States-Mexico-Canada (USMCA) agreement. The new tariffs will exclude energy products, fish, critical minerals and potash. They also exclude products already subject to tariffs aimed at protecting national security, such as steel and aluminum. The steep tariffs will probably unleash a new wave of economic chaos, with risks of higher inflation and further fraying of relations between two nations that had been closely woven together before Trump’s return to the White House. The Canadian prime minister, Mark Carney, said in a statement that his government has made comprehensive proposals ‌to resolve trade disputes with Washington, asserting that Trump’s past tariffs violated ‌a trade pact between the two countries. “This trade dispute has raised costs for families, particularly in the US,” he said. “Canada stands ready to engage intensively to address outstanding issues with the US to the mutual benefit of our citizens.” The White House said the tariffs will go into effect in 30 days, leaving time for possible negotiations between the two countries. Trump signed three proclamations to launch the tariffs under Section 338 of the 1930 Trade Act. Several Democratic lawmakers last year proposed repealing the section because they said Trump could use it to destabilize the economy. A White House fact sheet claims Trump is “taking action to hold Canada accountable for its continued discrimination against and unreasonable and unequal treatment of U.S. commerce that has burdened and disadvantaged hardworking Americans”. Trump claims in the proclamations that Canada discriminates against American automobiles, alcohol and cheese relative to other nations, but his argument rests in large part on retaliatory actions taken by Canada after the US president imposed tariffs on Canada under the pretext that it should do more to stop fentanyl smuggling into the US. Trump noted in his autos proclamation that Canada maintained, starting in April 2025, a 25% tariff on the imports of US motor vehicles that did not qualify for preferential treatment under the USMCA.

Donald Trump to impose 50% tariff on most Canadian goods, White House says
Europe
BBC Business

We split bills equally even when one of us earned a lot more

Hannah and Max have always split their money equally even when one has earned considerably more than the other. "We've always wanted to do things 50/50," Max, 31, says. "We made a commitment to each other that what's mine is yours, and vice versa." The couple got married after two years together, when Max was earning £70,000 a year working in tech, and Hannah, who works in the charity sector, was earning considerably less. Their salaries go into a joint account and their mortgage, bills, food, petrol and other household costs are paid out of this. If one of them wants to buy clothes, make-up or go to the pub they can do that without feeling watched and "it means we aren't accountable to each other for those things", says Max. They also divide money into different pots, including savings and smaller funds for predictable spending like haircuts. The pair came into the relationship with very different attitudes to money - Hannah's family discuss finances openly whereas for Max, "money was totally taboo". "We never spoke about money so as an adult I was left without any knowledge of things like what's a good salary or how to negotiate my pay," he says. When it came to buying a home together they had to be honest about how much they earned, how much they had for a deposit and what they could realistically afford. "As first-time buyers, there are costs you don't think about, like stamp duty and solicitor fees, so it was important we both knew exactly how much money we had," Hannah says. "Just this morning we were talking about what we can do to help improve our financial situation in the future," Hannah says. Research from wealth manager Quilter suggests almost half of couples do not share financial planning equally, with 46% acting alone in some way and more than one in 10 leaving one partner solely responsible.

We split bills equally even when one of us earned a lot more
North America
CNBC Finance

Why three automakers dominate the fast-growing hybrid vehicle market

Just three automakers control the majority of one of the hottest segments in the U.S. car market — and none of them are American companies. In the first half of 2026, sales of hybrid cars — not long ago considered a bridge to fully electric vehicles — have risen nearly 20% year over year to a record market share of 15.4%, according to the Center for Automotive Research, almost three times the share of pure EVs. "The only growth we're seeing is in hybrid market share," said Elizabeth Krear, CEO of the Center for Automotive Research. "All other propulsion systems have lost market share year to date." It has been a boon to the few automakers that invested heavily in the hybrid vehicle market. Toyota, Hyundai Motor Group and Honda together control 86% of it, according to automotive market analysis firm Baum & Associates. "Consumers want the vehicles. The problem is there are relatively few automakers that offer those vehicles," said Alan Baum, principal at Baum & Associates. Toyota sold more than 600,000 hybrids in the first half of 2026 between its two brands, Toyota and Lexus. It controls half the market. Toyota's hybrid lineup has pushed overall U.S. volumes closer to top seller General Motors, which has bet big on EVs and has only one hybrid in its U.S. lineup in the Corvette E-Ray. GM told CNBC in an email that "hybrids do have a role in our future product plans." The other automaker that has invested heavily in hybrids is Hyundai Motor Group, which owns the Hyundai, Genesis and Kia brands. It just barely surpassed Honda in the first half of 2026, according to data from Baum & Associates. Honda is still the second-bestselling hybrid brand in the country behind Toyota. Hybrids account for 31% of American Honda's sales, according to the company, and it set a U.S. hybrid sales record in the first half of 2026. "We're, extremely happy with how our hybrids have been doing," said Gary Robinson, vice president of auto strategy at American Honda Motor Co., the Japanese carmaker's U.S. arm. High fuel prices, broader selection and lingering skittishness around EV range and charging are pushing an unprecedented number of buyers toward hybrids. Historically, hybrid versions of cars have cost more up front than gas vehicles, due to the more complex powertrains required, Krear said. But buyers can save somewhere between 30% and 50% on fuel costs, given hybrids' better economy, Krear said. A hybrid buyer can recover the added up-front cost in two to three years, she added. "The consumer value proposition wasn't as compelling as it is today," Krear said. "Gas prices were lower, so the up-front premium was harder to justify. Early hybrids were mostly small cars, while American consumers were moving towards SUVs and trucks. It took time for the consumers to understand the value proposition and the economics, as well as for the product availability to align up with consumer preferences."

Why three automakers dominate the fast-growing hybrid vehicle market
North America
CNBC Finance

Eli Lilly says it will file for approval of next-generation obesity drug in 2027 as it clears two more trials

Eli Lilly on Thursday said it will file for approval of its next-generation obesity drug in the first quarter of 2027, as the treatment succeeds in two more late-stage trials. The pharmaceutical giant previously said it would submit an application as early as this year for the weekly injection, retatrutide, which works differently and appears to be more effective than existing shots and pills. In a statement to CNBC, Lilly said it needs more time to gather and verify the manufacturing and quality-control data required by regulators before it can seek approval. In two separate phase three trials, retatrutide delivered significant weight loss and improvements in a key measure of blood sugar levels in adults with obesity and two major complications, Type 2 diabetes and established cardiovascular disease. Based on the data, the company believes it has the data necessary to file for approval globally for retatrutide as a potential treatment for obesity, knee osteoarthritis pain and obstructive sleep apnea, Kenneth Custer, president of Lilly Cardiometabolic Health, said in a release. In one trial, adults with obesity and diabetes taking the drug lost up to an average of 20.8% of their weight, or nearly 50 pounds, at 80 weeks. That population typically struggles to lose weight. In another trial, adults with severe obesity and established cardiovascular disease, with or without diabetes, on the treatment lost up to an average of 22.6% of their weight, or 55.8 pounds, at 80 weeks. Retatrutide meaningfully reduced certain cardiovascular risk factors in patients, Lilly added. The side effects associated with the drug were consistent across the two trials, as well as previous studies on the treatment. The most common included diarrhea, nausea and constipation, which are also seen across the broader GLP-1 class. There are now positive results from five late-stage trials on retatrutide, which Lilly is positioning as the next pillar of its obesity portfolio after its injection Zepbound and newly launched pill, Foundayo. In a January note, TD Cowen analysts estimated that retatrutide could rake in sales of $3.8 billion in 2030. Retatrutide is also critical to the drugmaker's plan to maintain its market share majority over Novo in the booming market for weight loss and diabetes drugs. Some analysts estimate the segment could be worth about $100 billion by the 2030s. Dubbed the "triple G" drug, retatrutide targets GLP-1, GIP and glucagon rather than just one or two of those hormones like existing treatments. That appears to have more potent effects on a person's appetite and satisfaction with food than other treatments. Tirzepatide, the active ingredient in Zepbound, mimics GLP-1 and GIP. Novo Nordisk's semaglutide, the active ingredient in Wegovy, mimics only GLP-1. Get this delivered to your inbox, and more info about our products and services.

Eli Lilly says it will file for approval of next-generation obesity drug in 2027 as it clears two more trials
Europe
BBC Business

Gary Lineker among millionaires asking Andy Burnham to tax them more

Image source, Getty Images / ShutterstockImage caption, (left to right) Gary Lineker, Val McDermid and Gary Stevenson are some of the signatories asking to be taxed more. Millionaires including former footballer Gary Lineker and music producer Brian Eno have written to new prime minister Andy Burnham asking to be taxed more. In an open letter, 120 well-off Britons told Burnham: "We can afford it. We're not talking about higher taxes on those who get up and go to work for their income every day, but on the very richest whose income is derived from the wealth they hold." Organised by Patriotic Millionaires, the letter said it would lead to a more equal society, and urged a "devolution of wealth and power from the very richest". People can already give money or stocks voluntarily to the Treasury using a donation facility. Conservative leader Kemi Badenoch said Lineker is "very welcome to pay more tax he can write a cheque to the Treasury, no one is stopping him." "Millionaires are a patriotic bunch," the letter states. "We love this country and we want it to succeed. "But success requires investment and a primary source of untouched capital investment is sitting with us, in untaxed potential." Other signatories include Richard Curtis, director of Notting Hill and Ian Gregg, the former managing director of Greggs and son of the bakery chain's founder. Scottish crime writer Val McDermid and former financial trader turned equality campaigner Gary Stevenson also signed the letter. Chief Secretary to the Treasury, Emma Reynolds, said she would welcome UK millionaires increasing the amount of tax they pay but said any major changes would be announced during a Budget. "I welcome the fact that people of good means are saying that they want to pay more. They can pay more," she said and pointed to the Treasury's donation link. The renewed call for higher tax on the wealthy follows a similar campaign in previous years.

Gary Lineker among millionaires asking Andy Burnham to tax them more
Europe
The Guardian

US senator accuses Barclays of ‘failure’ to investigate ex-CEO’s ties to Epstein

Jes Staley was forced to step down as CEO of Barclays over his links with Jeffrey Epstein. Photograph: Bloomberg/GettyView image in fullscreenJes Staley was forced to step down as CEO of Barclays over his links with Jeffrey Epstein. Photograph: Bloomberg/GettyBarclaysUS senator accuses Barclays of ‘failure’ to investigate ex-CEO’s ties to EpsteinExclusive: Elizabeth Warren claims bank did not ‘meaningfully investigate’ Jes Staley’s links with sex offender The leading US senator Elizabeth Warren has called for urgent answers from Barclays over what she claimed was its “apparent failure to meaningfully investigate” ties between the bank’s former boss, Jes Staley, and the late sex offender Jeffrey Epstein. In a letter sent privately to Barclays’s chair, Nigel Higgins, and seen by the Guardian, Warren – the most senior Democrat on the US senate banking committee – said it was “deeply unclear how Barclays, supposedly investigating Staley’s connection to Epstein, failed to uncover this decades-long relationship”. The letter, sent also on behalf of the Congress members Ro Khanna and Raja Krishnamoorthi, gave Barclays two weeks to answer a series of questions about how they handled information on the links between its former chief executive and Epstein, who died while awaiting trial on child sex trafficking charges in 2019. The questions included whether the bank conducted any reviews into “deficiencies” in its executive hiring process, which had “allowed the board to hire a CEO who held extensive professional and personal ties to a convicted sex offender”. The US lawmakers raised a string of concerns about information arising from a UK court hearing last year, in which Staley unsuccessfully tried to overturn the regulator’s decision to ban him from the British banking industry, four years after he was forced to step down as boss of Barclays. View image in fullscreenElizabeth Warren, a Democrat, tells Barclays it ‘simply took him [Jes Staley] at his word’. Photograph: Allison Robbert/APThose concerns included Higgins’s admission that he had not asked Staley about his last contact with Epstein before Higgins’s declaration to the Financial Conduct Authority that the last contact had been “well before” the CEO joined Barclays. “It appears that neither you nor any other member of the board conducted any deeper due diligence to verify Staley’s claims and simply took him at his word,” the letter said, referring to exchanges between the executive and board members during Staley’s tenure. “It is unclear what specific actions, if any, Barclays took to investigate Staley and Epstein’s personal ties.” The US lawmakers said the episode sparked questions about how the bank was managed. “Barclays’s apparent failure to meaningfully investigate or address Staley’s relationship with Epstein raises significant governance questions regarding the bank’s ability to hold senior executives accountable for wrongdoing,” the letter said. The signatories also warned that it was a “privilege” to hold local banking licences and operate in the US, where the bank had “extensive” operations and held about $200bn (£150bn) in assets. That privilege “is contingent on the ongoing character and fitness of management and the ability of the firm to conduct its operations in a safe and sound manner”. The letter was sent hours before Staley was due to be grilled in a closed-doors hearing by the House Oversight Committee, on which the letter’s co-signatories, Khanna and Krishnamoorthi, both sit. Staley originally met Epstein in 2000 after he became head of JP Morgan’s private bank, where Epstein was a client. He later took over as chief executive of Barclays in 2015, but was forced to step down in 2021, after City regulators launched an investigation into the nature of the relationship between the two men.

US senator accuses Barclays of ‘failure’ to investigate ex-CEO’s ties to Epstein