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Asia
The Hindu BusinessLine

For EVs to grow, more products needed in sub 4-meter category: JSW MG Motor

Indian customers want electric vehicles (EVs), but there are not many options available in the market, especially in the sub-4 meter or below ₹12 lakh category where EV body style is very rare, and therefore more vehicles are required in this price bracket so that the EV penetration grows, a top official at JSW MG Motor India said. For instance, as per industry figures, in the sub-4 meter category, there are around 35 vehicles available in the form of internal combustion engine (ICE) that also in multiple trims, but when it comes to EVs, there are not even 10 models available in this category right now. “There is a lot of gap in the sub-4 meter...when you glance through the models, there is a stark difference between sports utility vehicle (SUV) style and EV body style. It is not new though...if you go back in time, in 2014 the SUV penetration in India was less than 5 per cent, today it is 65 per cent of the overall cars sold in the country,” Anurag Mehrotra, Managing Director, JSW MG Motor India, told businessline. He said every original equipment manufacturer (OEM) has brought multiple SUVs in these last 12 years with multiple pricings, so similar trend has to come for the EVs, so that share of EVs grow in the domestic market. Right now, only 7-8 per cent penetration is there for the EVs so every OEM can play for the remaining 92 per cent of the passenger vehicle market in the country, he noted. “So, the challenge is not on the demand side, but supply side. The amount of conversations on EV cars has gone up in the last 6-12 months. Earlier a year or two ago, people would not have asked you, but today, everyone is asking around, and some customers have even bought EV as their first car,” Mehrotra added. Maruti Suzuki India has the highest number of ICE vehicles in the sub-4 meter category with models including Alto K10, S-Presso, WagonR, Celerio, Swift, Ignis, etc but no EV in that category. Similarly, Hyundai Motor India has five models in the sub-4 meter category but no EV. Others such as Kia India, Honda Cars India, Skoda Auto/ Volkswagen Auto India and Toyota Kirloskar Motor also don’t have a single EV in that category. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

For EVs to grow, more products needed in sub 4-meter category: JSW MG Motor
Europe
The Guardian

‘Laws were broken’: multistate effort to stop Paramount’s $111bn merger heads to court

Rob Bonta, California’s attorney general, holds a press conference about the lawsuit against the mega-merger next to the Hollywood sign in Los Angeles, California, on Monday. Photograph: Daniel Cole/ReutersView image in fullscreenRob Bonta, California’s attorney general, holds a press conference about the lawsuit against the mega-merger next to the Hollywood sign in Los Angeles, California, on Monday. Photograph: Daniel Cole/ReutersMedia‘Laws were broken’: multistate effort to stop Paramount’s $111bn merger heads to courtAttorneys general from 12 states are suing to block the Paramount-Warner Bros deal they say violates antitrust law A last-ditch effort to block the merger between Paramount Skydance and Warner Bros Discovery (WBD) is heading to court as 12 Democratic state attorneys general attempt to stop the $111bn deal they say violates antitrust law and reduces competition in both the film and cable television industries. The lawsuit, which was filed on Monday, faces a crucial hearing on Friday to determine if a judge will temporarily pause the deal or allow it to continue toward approval. The merger was already approved by the Department of Justice in June. California’s attorney general, Rob Bonta, who is leading the suit, told the Guardian on Thursday he was optimistic about their chances in court. The lawsuit argues that the merger violates the Clayton Act, a federal antitrust law that prohibits illegal market concentration. “In our complaint, it’s really clean, clear, concise,” he said. “It’s precise with the data points that we’ve shared and courts have traditionally accepted exactly those types of arguments and that kind of data as a basis for finding a merger to be presumptively unlawful.” Bonta said he was “disappointed” that no Republican attorneys general signed on to the Paramount case, though he was able to form a bipartisan coalition that has been successful at temporarily blocking the merger of the television conglomerates Nexstar and Tegna. “I hope it’s not because of any pressure from the head of the Republican party, Donald Trump, on any those Republican entities, because antitrust cases should be non-partisan or bipartisan,” he added. “They’re just about free and fair markets, and I think we all agree on that.” Washington state’s attorney general, Nick Brown, said he was surprised by the volume of constituents who contacted his office to express concern about the merger, which would lead to less competition among film distributors and streaming services and could lead to higher prices for consumers. New Jersey’s attorney general, Jennifer Davenport, agreed that the top concern was higher prices and fewer content choices for consumers. “We just knew that it was bad for New Jerseyans,” Davenport said. “This is more important than ever that we fight for the competition in the industry, because we are seeing it as just another component of rising costs in our state.” The concerns raised in the lawsuit, including the potential for reduced competition, are particularly relevant for New Jersey, which has seen a wave of recent investment by major studios and entertainment companies thanks to generous tax credits. Netflix plans to invest $1bn to create a new production facility in Fort Monmouth, New Jersey, while Lionsgate is building a dedicated production facility in Newark. Paramount, the defendant in the case, is slated to serve as the anchor tenant for a 58-acre facility called 1888 Studios.

‘Laws were broken’: multistate effort to stop Paramount’s $111bn merger heads to court
North America
CNBC Economy

Renewed Hormuz hostilities drive ECB rates rethink amid ‘extremely volatile’ outlook

Several consecutive days of strikes exchanged between the U.S. and Iran have once again thrown oil prices into the spotlight — and cast uncertainty on the European Central Bank's interest rate decision next week. Investors on Wednesday were repricing for the ECB's July 22 monetary policy meeting as soaring oil prices have put expectations for a hold in doubt. "The renewed outbreak of military conflict in the Middle East and the fresh rise in oil prices underscore that the situation remains extremely volatile and the uncertainty is similarly high," Bundesbank President and ECB rate setter Joachim Nagel told Reuters on Wednesday. "It remains advisable to react with caution, but to act decisively if necessary," he said. "Monetary policy will maintain its vigilant stance." The ECB slashed interest rates four times in the first half of 2025, taking its key deposit rate from 3% at the start of the year to 2% by mid-June. But last month it was forced to change course, hiking by 25 basis points to its current rate of 2.25%. Headline inflation hovered close to the ECB's 2% target before the outbreak of the Iran war and then accelerated to a peak of 3.2% in May. Initial estimates show eurozone inflation eased to 2.8% last month despite a 8.7% year-on-year increase in energy costs for the month, as core inflation was restricted to 2.4% — suggesting limited "second-round" inflation effects in the rest of the economy. But energy prices have once again shot higher this week as several consecutive days of hostilities between the U.S. and Iran over the control of the strategically vital Strait of Hormuz reignited fears over oil supply. September Futures for international benchmark Brent crude traded higher again early on Wednesday, above $85 per barrel, having traded closer to pre-war levels around $70 just last week. The price of oil is critical for the eurozone economy, which imported 57% of its energy needs in 2024, according to the most recent available data from Eurostat. But policymakers will also be cautious that an overly restrictive monetary policy stance could tip the eurozone economy into recession after contracting by 0.2% year-on-year in the first quarter of 2026. Policymakers will also be conscious that initial estimates for second-quarter GDP growth and July inflation will not be available until July 30 and July 31, respectively – meaning next week's rates decision will be made without access to the most recent data. ING rates strategists Michiel Tukker and Benjamin Schroeder wrote in a Wednesday note that eurozone inflation data "will be pivotal in challenging the hawkish market positioning," but "even then, those numbers will not be enough to comfort markets about second-round risks." "All this uncertainty means markets' European Central Bank pricing can continue to diverge from the Fed's," they said. "The momentum in US inflation should be downwards, whereas for Europe the peak might not be in sight yet, especially if energy prices continue to drift higher again."

Renewed Hormuz hostilities drive ECB rates rethink amid ‘extremely volatile’ outlook
Asia
The Economic Times

RBL Bank among 5 smallcap stocks bought by mutual funds in June. Check details

Only smallcap Materials and Oil & Gas stocks attracted inflows; large and midcaps saw outflows. Here are the top five smallcap stocks bought by mutual funds in June, according to a report by Dolat Capital Acme Solar Holdings, a power sector stock, was bought by mutual funds in June. The net buy value was Rs 2,539 crore. Craftsman Automation, a auto and auto ancillaries sector stock, was bought by mutual funds in June. The net buy value was Rs 1,352 crore. Pine Labs, a small cap stock, was bought by mutual funds in June. The net buy value was Rs 1,015 crore. Sterlite Technologies, a telecom sector-based stock, was bought by mutual funds in June. The net buy value was Rs 733 crore. RBL Bank, a private sector bank stock, was bought by mutual funds in June. The net buy value was Rs 647 crore.

RBL Bank among 5 smallcap stocks bought by mutual funds in June. Check details
Asia
The Economic Times

ICICI Prudential AMC among top 5 midcap stocks with highest MF selling in June

These top five midcap stocks witnessed the highest net selling by mutual funds in June. Here is a detailed breakdown, according to a report by Motilal Oswal Financial Services. Patanjali Foods witnessed the highest net selling in mutual funds in June. The value change in June was Rs 5.7 billion, and the monthly value change was 51.1%. Monthly, the shares changed by 45.7%. The percentage of midcap value was 0.1%. ICICI Prudential AMC witnessed net selling in mutual funds in June. The value change in June was Rs 70.5 billion and on a monthly basis, the value change was 16.8%. On a monthly basis, the shares changed 11.4%. The percentage of midcap value was 0.8% Indian Renewable Energy Development Agency witnessed net selling in mutual funds in June. The value change in June was Rs 0.5 billion, and the monthly value change was 11.7%. On a monthly basis, the shares changed by 8.5%. The percentage of midcap value was 0.0%. NMDC witnessed net selling in mutual funds in June. The value change in June was Rs 46.6 billion, and every month the value change was 11.4%. Every month, the shares changed by 8.5%. The percentage of midcap value was 0.5%. Oil India witnessed net selling in mutual funds in June. The value change in June was Rs 54.3 billion, and every month the value change was 19.1%. Every month, the shares changed by 7.6%. The percentage of midcap value was 0.6%.

ICICI Prudential AMC among top 5 midcap stocks with highest MF selling in June
North America
CNBC Finance

Netflix stock falls as earnings forecast disappoints, company says it will give fewer engagement updates

Netflix reported second-quarter revenue and earnings that were roughly in line with analyst estimates on Thursday as Wall Street is keeping a close eye on the company's advertising and engagement metrics. Netflix stock fell more than 8% in after-hours trading Thursday as investors appeared disappointed once again in the company's earnings forecast. Netflix reported $12.56 billion in revenue, up 13% year over year and just slightly missing analyst expectations. The rise was attributed to membership growth, pricing and increased ad revenue. Earlier this year, Netflix raised its subscription prices across all its streaming plans. The company said Thursday the results of those price hikes were consistent with prior changes and expectations. Net income for the second quarter was $3.40 billion, or 80 cents per share, compared with $3.13 billion, or 72 cents a share in the same period last year. Netflix expects third-quarter revenue to grow 12% and called its 2026 outlook consistent with earlier forecasts. The company said it was narrowing its 2026 forecast revenue range to $51 billion to $51.4 billion for the full fiscal year, from earlier guidance of between $50.7 billion to $51.7 billion. Questions about engagement were top of mind for analysts during Thursday's earnings call. The streaming giant called engagement with its content "healthy," saying live events were a top draw for members, who watched more than 97 billion hours of total content in the first half of this year. The engagement metric has come into focus after reports that viewership for Netflix series drops following the first season. "I'll start by saying there is not a linear relationship between viewing hours and revenue and profit, because all hours are not created equal," co-CEO Greg Peters said during the call. Co-CEO Ted Sarandos also said Thursday that there isn't "any material change" in second season viewership of series versus the first season, following an earlier report that said there was a drop-off. "Our season two fall off has actually slightly improved this year relative to last year, so no changes in release strategies," Sarandos said on the call. Yet, on Thursday, the company said it would cut back on the frequency of its "What We Watched" reports, which provide a picture of engagement. Following the release of Thursday's report – which gives information on viewership for the first half of 2026 – Netflix will shift to publishing the report annually in the first quarter beginning in 2027. The company said its goal in separating out when "What We Watched" is published from its earnings results is to keep the focus on financial metrics like revenue and operating profit.

Netflix stock falls as earnings forecast disappoints, company says it will give fewer engagement updates
Asia
The Economic Times

SBI Mutual Fund among 6 AMCs with over Rs 7,000 crore AUM jump in June. Check details

Around six asset management companies (AMCs) saw an increase of Rs 7,000 crore in their respective AUMs. Here is a detailed breakdown. (Source: ACE MF) SBI Mutual Fund saw the highest increase in the AUM by Rs 14,192 crore on a monthly basis, taking the total AUM to Rs 12.94 lakh crore in June against Rs 12.80 lakh crore in the previous month. Aditya Birla Sun Life Mutual Fund's AUM rose by Rs 11,545 crore month-on-month to Rs 4.29 lakh crore in June, up from Rs 4.18 lakh crore in May. The firm saw an increase in the AUM by Rs 7,922 crore on a monthly basis, taking the total AUM to Rs 9.63 lakh crore in June against Rs 9.56 lakh crore in the previous month. Invesco Mutual Fund's AUM rose by Rs 7,579 crore month-on-month to Rs 1.52 lakh crore in June, up from Rs 1.45 lakh crore in May. Nippon India Mutual Fund saw an increase in the AUM by Rs 7,411 crore on a monthly basis, bringing the total AUM to Rs 7.72 lakh crore in June against Rs 7.65 lakh crore in the previous month. It saw an increase in the AUM by Rs 7,108 crore on a monthly basis, taking the total AUM to Rs 1.49 lakh crore in June against Rs 1.42 lakh crore in the previous month.

SBI Mutual Fund among 6 AMCs with over Rs 7,000 crore AUM jump in June. Check details
Asia
The Hindu BusinessLine

JK Cement Q1 profit declines 15.3%

JK Cement Ltd on Saturday reported a 15.3 per cent decline in consolidated net profit to ₹274.62 crore for the June quarter. It had posted a profit of ₹324.25 crore in the year-ago period, according to a regulatory filing from JK Cement Ltd (JKCL). Revenue from operations was up 20.25 per cent at ₹4,031.72 crore in the June quarter from ₹3,352.53 crore a year ago. JKCL's total expenses were at ₹3,664.82 crore, up 25.5 per cent in the June quarter. The total income of JKCL, which includes other income, was at ₹4,070.97 crore, up 19.41 per cent in Q1, FY27. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

JK Cement Q1 profit declines 15.3%
Asia
The Hindu BusinessLine

From farm to plate: The growing influence of ingredient-first dining

Backing local producers keeps supply chains short and supports a wider range of crops. Farm-to-table has become one of the most overused phrases in hospitality. The thinking behind it is sound, but the words themselves have hardened into a marketing line. A restaurant is not good because it sits near a farm. It is good because of the ingredients it picks, the producers it chooses to work with and what it does with that produce once it reaches the kitchen. Today’s diners, particularly at the premium end, know more and ask more than they used to. A good meal on its own is no longer enough. They want to know where an ingredient comes from, who grew it and why it has earned a place on the menu. Those questions now matter to them almost as much as the cooking. That curiosity is pushing restaurants to spend real time with farmers, small producers and artisans, and to build relationships rather than simply place orders. For a chef, these relationships are about far more than supply. Buying directly from a grower means getting produce at its freshest, and often at its best. It also turns up regional ingredients that rarely reach a menu and deserve to. Backing local producers keeps supply chains short and supports a wider range of crops. The food that comes out of it tastes better, and it carries a clearer sense of where it is from. The industry has to stop treating farm-to-table as a label. Sustainability is not about putting a fashionable ingredient on the plate or slipping a few local dishes onto the menu. It is the daily work of buying responsibly, cutting waste and cooking things when they are actually in season. The real luxury is no longer flying in something rare from the other side of the world. It is finding a remarkable local ingredient and doing something exceptional with it. Season matters here too. Nature was never set up to give us everything all year round, and a kitchen is better off working with that than fighting it. A menu that changes through the year is not inconsistent. It shows a confident kitchen that trusts the produce in front of it. Every season is a reason to look at a dish again, try something different and give regulars something they have not had before. When a menu keeps moving, it tells people the kitchen will not cut corners for the sake of convenience. None of this means the cooking has to become smaller or more local in its imagination. Good cooking borrows constantly. Techniques move across borders and cultures feed off one another. A French method, an Asian flavour and an Indian ingredient can share a plate without any of it feeling forced. The ingredient stays true to where it came from, while the chef brings a wider point of view to how it is cooked and presented. That is usually where the dishes people remember come from. We also have a part to play in telling guests where their food comes from. Naming the farm behind an ingredient, or the person who grew it, changes how a dish lands. People care about that now, and knowing the story behind a plate of food makes the meal mean a little more. There is a hard truth in all of this, though. Almost nobody books a table again because a restaurant called itself sustainable. They come back because the food was very good. Where an ingredient came from might start the conversation, but taste is what people actually remember. Sourcing and sustainability should sit underneath the cooking, not in front of it. That, to me, is where hospitality is heading. Not simply farm-to-table, but ingredient-first. When a chef lets good produce decide the menu instead of chasing whatever is fashionable, the food becomes honest and hard to copy. Trends will keep coming and going. A real respect for the ingredient will not. And that, in the end, is just better cooking. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

From farm to plate: The growing influence of ingredient-first dining