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Asia
The Hindu BusinessLine

Kerala on alert as heavy monsoon rains raise widespread flooding concerns

People living in low-lying areas have been directed to move to safer places without fail, as heavy rain overnight raised concerns of flooding in vulnerable areas. | Photo Credit: NAJEEB KK Several parts of Kerala recorded heavy rainfall, with three weather stations receiving more than 100 mm of rain, according to IMD data released on Monday, as authorities warned of a worsening situation in the southern district of Pathanamthitta. The office of Kerala Tourism Minister P C Vishnunadh said heavy rain in the Sabarimala region had created a worrying situation in the district, with water levels likely to rise in Ranni and nearby areas. Vishnunadh is camping in Pathanamthitta and leading disaster management and relief operations, the minister's office said. It added that he was reviewing the situation at Kozhencherry along with Aranmula MLA Abin Varkey, government officials and other elected representatives. People living in low-lying areas have been directed to move to safer places without fail, as heavy rain overnight raised concerns of flooding in vulnerable areas. In view of the continuing heavy rainfall in Kerala, collectors of many districts have declared a holiday on Monday for all educational institutions. Meanwhile, Chief Minister V D Satheesan has convened an online meeting of district collectors at 10 am to review the rain situation across Kerala. According to the India Meteorological Department, rainfall data recorded between 8.30 am on August 2 and 5.30 am on August 3 showed that Venkurinji in Pathanamthitta received the highest rainfall at 104.5 mm, followed by Udumbannoor in Idukki with 103.0 mm and Cheruthoni in Idukki with 101.5 mm. Laha in Pathanamthitta received 87.0 mm of rain, while Thycattussery in Alappuzha recorded 80.0 mm. Neriamangalam in Ernakulam received 75.0 mm, followed by Ulanadu in Pathanamthitta with 74.5 mm. Mattancherry in Ernakulam recorded 71.0 mm of rainfall. Ranni Chethackal in Pathanamthitta received 65.5 mm, Vadavathoor in Kottayam recorded 64.0 mm, Palluruthy in Ernakulam received 63.0 mm, and Munakkal in Thrissur recorded 62.0 mm. According to the IMD, all these places recorded 60 mm or more of rainfall during the period, which the weather office classifies as significant rainfall. The widespread rain was reported as the southwest monsoon remained active over the state.

Kerala on alert as heavy monsoon rains raise widespread flooding concerns
North America
CNBC Finance

As Honda CR-V leads U.S. sales, automaker teases new American-built pickup truck

Honda Motor on Thursday confirmed a next-generation model of its Ridgeline pickup truck will be produced in the U.S. following a temporary production stoppage later this year. The future of the midsize pickup truck has been in flux amid reports that there could be a production pause coming due to the vehicle not meeting California emissions regulations. The Japanese automaker on Thursday said there will be a temporary production stoppage for the pickup truck later this year at the Alabama plant that produces the vehicle, with assembly returning to the facility within two years, likely in 2028. "The goal is to continue to serve those customers who've been loyal to the Ridgeline," Lance Woelfer, vice president of auto sales at American Honda Motor, told CNBC. "But one of the things that we want to bring forward in the future is increased ruggedness of that vehicle, even more capability." Woelfer declined to comment on whether the more rugged capability will include the vehicle moving from a car-based production process to a more traditional truck assembly, known as "body-on-frame," which is how most trucks are built in the U.S. "That's been an important part of its history. Whether or not it's part of its future, I won't get into that," Woelfer said. "This is a step forward for the Ridgeline that I think everybody will appreciate." Expanding the capability of the Ridgeline, which is more known for smooth driving than ruggedness, could assist in expanding the vehicle's buyers. Sales of the Ridgeline were down about 3% during the first half of the year. The company has sold between roughly 41,000 and 52,000 Ridgelines annually since 2021. That compares with more than 270,000 units sold of the segment-leading Toyota Tacoma in 2025. Honda's confirmation of the new pickup comes as its CR-V compact crossover led U.S. auto sales through the first half of the year for the first time ever. CR-V sales increased roughly 6% compared with last year as the Ford F-Series pickups and Toyota Rav4 crossover, which have led sales in recent years, dealt with production bottlenecks. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

As Honda CR-V leads U.S. sales, automaker teases new American-built pickup truck
Asia
The Hindu BusinessLine

Gold, silver seen range-bound as focus shifts to US job numbers, Fed cues: Analysts

Gold and silver are likely to trade in a narrow range this week as traders await a raft of economic data, including the US non-farm payrolls report, for fresh clues on the Federal Reserve's interest rate outlook, analysts said. Investors will monitor purchasing managers' index (PMI) data from the US, the UK, the Eurozone and Japan. Focus will remain on July employment data from the US, comprising non-farm payrolls and the unemployment rate. Globally, developments surrounding the US-Iran conflict and the stability of crude oil supplies through key shipping routes will remain important drivers of market sentiment, they added. "MCX gold to trade in the ₹1.40-1.44 lakh per 10 grams range in the near-term, with the directional move hinging on US macroeconomic data and evolving expectations around the Fed's policy path," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities. On the domestic front, gold futures for August delivery fell by ₹1,595, or 1.1 per cent, during the last week to close at ₹1.41 lakh per 10 grams. Silver futures for the September contract declined ₹4,940, or 2.2 per cent, to settle at ₹2.17 lakh per kilogram on the Multi Commodity Exchange. "Gold remained volatile and ended the week on a weaker note, with MCX Gold declining a little over 1 per cent as prices continued to consolidate within a broad trading range," Trivedi said. Despite a weak US dollar and a sharp correction in crude oil prices, gold failed to attract significant buying interest, indicating cautious investor sentiment, he added. In the international markets, Comex gold futures for October delivery ended marginally lower at USD 4,076.6 per ounce, while silver for the September contract during the past week slipped nearly 2 per cent to finish at USD 57.78 per ounce in New York. According to Trivedi, uncertainty over the Federal Reserve's interest rate outlook remained the primary factor weighing on bullion, as policymakers refrained from providing a clear timeline for future policy moves. He noted that market participants will also track speeches by the Federal Reserve officials Lisa D Cook and Thomas Barkin, as well as China's trade data, including exports, imports, Consumer Price Index and Producer Price Index, for additional cues on the global economic outlook and bullion prices. 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.

Gold, silver seen range-bound as focus shifts to US job numbers, Fed cues: Analysts
Asia
The Hindu BusinessLine

India needs more quality universities to curb demand for overseas education: Noel Tata

India needs significantly more high-quality educational institutions to meet the growing demand and reduce students’ dependence on overseas universities, Noel Tata, Chairman of Tata Trusts, said on Sunday, as he outlined the Trusts’ renewed focus on institution-building in education and healthcare. Speaking at the IIM Bangalore Alumni Association’s flagship leadership conclave, IIMBue 2026, Tata said the country’s higher education ecosystem has not kept pace with demand, leaving many students with little choice but to study abroad. The fireside chat was moderated by Sonjoy Chatterjee, Chairman & CEO, Goldman Sachs India, who serves on IIMB’s board of governors. “The country needs a wake-up call on education. We spend an atrocious amount of money every year on sending kids to the US and Europe because there aren’t enough quality institutions here. There is no reason why India cannot provide enough institutions so that everybody who wants to get an education can find an institution which they believe adds value to their children’s lives and will give their children a good career going forward. The problem is enormous,” he emphasised. Describing the proposed undergraduate institution being established in partnership with IIM Bangalore as a significant beginning, Tata said India urgently needs many more world-class educational institutions. Beyond education, he said Tata Trusts is moving beyond its traditional role of funding NGOs and individual development projects towards creating institutions that can serve generations, reviving a legacy that produced institutions such as the Indian Institute of Science, Tata Institute of Fundamental Research and Tata Memorial Hospital. As part of this strategy, Tata announced plans to expand affordable healthcare by developing 40-50 not-for-profit general hospitals across India after partnering with the Assam government to establish 17 cancer care hospitals in the state. The proposed hospitals will operate on a cross-subsidy model, with premium-paying patients helping finance treatment for economically weaker sections without compromising the quality of doctors, medicines or medical facilities. “The idea is to have a few rooms that are a certain percentage of our for-profit rooms, which can subsidise the rest of the patients so that we can offer the same service, surgeon, operation theatre, and medicine. We’ve identified three locations to start that, and I want to do much more on that space,” Noel said. He also said the Trusts are changing the way they assess the impact of philanthropy by focusing on measurable outcomes rather than simply reporting the number of beneficiaries. Reflecting on the role of Tata Trusts, he said the organisation continues to be guided by the vision of its founders, whose objective was to use the group’s wealth to improve lives and contribute to nation building. Tata said the guiding philosophy inherited from the founders of the Tata Group remained unchanged. “The founders left their shares in the company, in their Trusts, and they said, ‘spend money and do what is good for India’,” he said.

India needs more quality universities to curb demand for overseas education: Noel Tata
North America
Yahoo Finance

S&P 500, Nasdaq close lower ahead of technology earnings

STORY: U.S. stocks ended lower on Wednesday, with Dow virtually flat, the S&P 500 dipping fractionally, while the Nasdaq lost more than half a percent. Investors eagerly awaited earnings results after the closing bell from Alphabet and Tesla, the first of the Magnificent Seven megacaps to report. Shares of Alphabet, down more than 1% at the close, dipped further in extended trading despite the Google parent topping Wall Street estimates for cloud revenue growth thanks to the AI boom. And shares of Tesla, which also closed lower, tumbled another 2.5% in extended trading after Elon Musk's EV maker reported negative free cash flow for the first time in more than two years due to accelerated spending on AI infrastructure, battery capacity, robotaxis and next-generation manufacturing. Bob Lang, founder and chief options analyst of Explosive Options, said that strong earnings are needed to keep the market moving higher. “The one thing that has been pretty constant here for the past 4 or 5 months for the stock market has been strong earnings and certainly a first quarter brought us about 26, 27% earnings growth. So far in the second quarter, we're seeing it at about 16 to 17%. And that's without some of the big names that have reported for the second quarter yet. We're going to have big names like, Nvidia. We're going to have big names like Micron reporting in September. That's a couple of months away, of course. But you know, we're going to have some of these companies out there that are probably going to report some stellar earnings. And, it's really been the linchpin for keeping the stock market afloat right now.” Shares of IBM rose in extended trading after the company cut its annual revenue growth forecast, days after shocking Wall Street with a warning that corporate spending was shifting toward AI-focused data-center gear at the expense of its software and mainframe computers. :: ServiceNow Handout And shares of ServiceNow, down about 6.5% at the close, rose more than 3% after hours as the company raised its forecast for annual subscription revenue for the second time after beating second-quarter revenue and profit estimates, driven by growing demand for its AI-powered software. Among other tech names, shares of Super Micro Computer rallied almost 20%, making it the S&P 500's biggest percentage gainer, a day after the server maker said it had secured more than $60 billion in new orders in its fiscal fourth quarter.

S&P 500, Nasdaq close lower ahead of technology earnings
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
Europe
The Guardian

Oil prices near $100 a barrel after US attacks Iran and Houthis hit tankers in Red Sea – as it happened

Higher oil prices because of the resumption of US attacks on Iran and the spread of the conflict to the Red Sea are forcing up the cost to drivers at petrol pumps, according to the latest UK figures. The average price of petrol in the UK has risen to 155.57p per litre, up from 150.59p on 6 July, according to the RAC, a motoring services company. Diesel is up to 172.14p, after having fallen as low as 164p when it appeared that the US and Iran might be reaching a truce. Renewed US strikes on Iran for 12 days in a row, and new attacks on Saudi oil tankers by Yemen’s Houthis, have put paid to any hopes of peace in the near term. Brent crude prices rose by $4.50 as high as $98.88 on Thursday – leaving them just shy of the $100 mark not seen for nearly two months. Fuel prices are shooting up like a rocket on the back of oil being above $90 for the last days. The average price of diesel has gone up almost 8p, or 5%, to 172.14p a litre in the last fortnight, while petrol has risen by 5p in two and a half weeks to 155.57p, a 3% increase. All the cuts of the last few months are sadly being reversed, with the price of unleaded now heading back up towards 160p and diesel to a shocking 180p. If petrol was to climb to 160p, it would surpass its Iran war high of 159.53p, seen on 28 May. Unless the renewed conflict is brought to an abrupt end soon, it’s looking like UK drivers are going to suffer some stinging summertime pump prices. Petrol prices are up by 17% compared with before the US-Israeli attacks on Iran, according to the RAC. Photograph: RACIn other business news from today: Thanks for following today, and please do join us tomorrow for more live coverage of business, economics and financial markets. JJ

Oil prices near $100 a barrel after US attacks Iran and Houthis hit tankers in Red Sea – as it happened
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
Asia
The Economic Times

These 9 equity mutual funds delivered over 10% returns in July. Did you invest in any of them?

Top nine equity mutual funds delivered over 10% returns in July. There were nearly 610 equity mutual funds during the period, and the top nine funds were from the technology sector. Here is the detailed breakup (Source: ACE MF). HDFC Technology Fund, the topper on the list and a technology sector fund, delivered a return of 16.91% in July. Aditya Birla SL Digital India Fund, a technology sector fund, delivered a return of 15.08% in July. Kotak Technology Fund, ICICI Prudential Technology Fund, SBI Technology Opportunities Fund and Tata Digital India Fund delivered returns of 13.84%, 13.83%, 13.73% and 13.30%, respectively, in July 2026. Motilal Oswal Digital India Fund, WOC Digital Bharat Fund and Franklin India Technology Fund delivered returns of 10.93%, 10.59% and 10.05%, respectively, in July. Jasmeet Singh, Executive Director at Anand Rathi Wealth Limited, told ETMutualFunds that whether this outperformance will continue over the next 12 to 18 months is difficult to predict, as technology remains a cyclical sector and consistently identifying market tops and bottoms is rarely possible.The long-term outlook for the IT sector remains positive. However, near-term performance will depend on earnings delivery and global demand. Rather than taking concentrated sectoral exposure after a sharp rally, investors can consider diversified equity funds that already have meaningful exposure to quality IT companies, offering participation in the sector with lower portfolio risk. Nearly 442 funds generated returns ranging from 0.03% to 9.91% in July. One fund generated no return, while around 158 funds posted negative returns, with eight delivering double-digit losses. These double-digit losses were recorded by international funds. Of the 158 funds with negative returns, the first 23 were international funds.

These 9 equity mutual funds delivered over 10% returns in July. Did you invest in any of them?