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Asia
The Hindu BusinessLine

Q1 Results Today Live: UltraTech, IOB, KVB, Shyam Metalics, Sobha, JP Power, Bluestone to announce Q1 results, RIL & ICICI Bank gain after Q1, HDFC Bank, Kotak Mahindra, Axis Bank shares fall

businessman investment consultant analyzing company financial report balance sheet statement working with digital graphs. Concept picture for stock market, office, tax,and project. 3D illustration. istock photo for BL | Photo Credit: iStockphoto Reliance Industries stock rose 1% to Rs 1342 on the NSE. Its profit fell 22.4 per cent y-o-y to ₹20,946 crore Sensex depreciated 511.02 pts or 0.65% to 77,640.43 at 9.16 am after flat opening at 78,151.45; Nifty 50 fell 111.30 pts or 0.46% to 24,223. HDFC Bank's Q1 profit rises 5%, with CEO signaling growth acceleration and strategic focus on liquidity and deposit mobilization. Reliance Industries reports Q1 revenue growth of 25% to ₹3.11 lakh crore, driven by O2C recovery and Jio expansion. 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.

Q1 Results Today Live: UltraTech, IOB, KVB, Shyam Metalics, Sobha, JP Power, Bluestone to announce Q1 results, RIL & ICICI Bank gain after Q1, HDFC Bank, Kotak Mahindra, Axis Bank shares fall
North America
CNBC Finance

Goldman Sachs wins $70 billion in asset management deals with Verizon, Lockheed Martin

Goldman Sachs said Thursday it won deals to manage a combined $70 billion in retirement assets for Verizon Communications and Lockheed Martin, one of the larger recent announcements in the fast-growing market for outsourced corporate investing. The mandates include about $30 billion in pension assets for Verizon and Lockheed Martin and $40 billion in Verizon defined-contribution retirement assets, which are typically 401(k)s, according to Goldman. The moves underscore how some of America's largest employers are increasingly handing responsibility for managing retirement assets to outside firms such as Goldman as portfolios become more complex and require expertise across public and private markets. Competition in the multitrillion-dollar market for retirement assets is fierce among managers including Goldman, BlackRock, Russell Investments and Mercer, because the long-term institutional mandates generate steady fee revenue. By growing that business, Goldman hopes to increase its share of revenues that are seen as stable and recurring, unlike the more volatile trading and investment banking operations. "Large plan sponsors are consolidating responsibilities with one partner with the investment expertise and depth of platform to manage their bespoke needs," Marc Nachmann, Goldman's global head of asset and wealth management, said in a statement. Goldman's outsourced chief investment officer business had about $480 billion in assets as of March 31, while the firm's broader asset and wealth management division oversees roughly $3.7 trillion worth of investments. 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.

Goldman Sachs wins $70 billion in asset management deals with Verizon, Lockheed Martin
North America
CNBC Finance

June home sales disappoint as prices reach an all-time high

High mortgage rates coupled with record-high prices are causing homebuyers to pull back. Sales of previously owned homes in June dropped 2.4% from May to 4.09 million units on a seasonally adjusted, annualized basis, according to the National Association of Realtors. Housing analysts were predicting a slight gain month over month. "The back-and-forth in monthly home sales activity, driven by mild fluctuations in mortgage rates, shows how sensitive home buyers are to affordability conditions," said Lawrence Yun, the Realtors' chief economist, in a release. "However, job gains—more than half a million since the beginning of the year—will continue to provide support for the housing market." This count represents closed sales, so contracts that were likely signed in May, when the average rate on the 30-year fixed mortgage was still moving higher. It began rising sharply at the start of March at the beginning of the Iran war. Inventory at the end of June was 1.56 million units, down 0.6% from May but 1.3% higher than June 2025. At the current sales pace, that represents a 4.6-month supply. The market is considered balanced between buyer and seller at a six-month supply. With the market still lean, prices continue to rise. The median price of an existing home sold in June was $440,600, an increase of 1.8% from the year before and the highest on record. June is usually the strongest month for both sales and prices. CNBC's Property Play with Diana Olick covers new and evolving opportunities for the real estate investor, delivered weekly to your inbox. "Progress on long-term housing affordability could be hampered if inventory growth continues to stall. Without consistent gains in inventory, home prices can accelerate. It is critical to introduce more supply to the market to widen the opportunity for homeownership," Yun said. Sales continue to be strongest on the higher end of the market. Sales of homes priced below $100,000 were down 1.7% from a year ago, and sales of those priced between $100,000 and $250,000 were up less than 1%. Meanwhile sales of homes priced between $750,000 and $1 million were up nearly 14% from the year before, and sales of homes priced above $1 million were up 18%. Regionally, home sales were down in June month over month everywhere except in the Northeast. One-quarter of all sales were all-cash, down from 29% last year. First-time buyers made up 33% of sales, up from 30% a year ago. Get this delivered to your inbox, and more info about our products and services.

June home sales disappoint as prices reach an all-time high
Asia-Pacific
Channel NewsAsia

India ask its seafarers not to take Hormuz voyages

A man looks at a container ship in the Arabian Sea off the coast of Mumbai, India, on May 6, 2026. (Photo: REUTERS/Francis Mascarenhas) NEW DELHI: India has ordered shipowners, ship managers and recruitment companies not to deploy the country's seafarers on vessels undertaking trips through the Strait of Hormuz amid renewed fighting in the region. India is the world's third-largest supplier of seafarers, with more than 300,000 sailors working across global shipping fleets, according to government data. "No deployment of Indian seafarers on vessels undertaking voyages involving passage through the Strait of Hormuz until further orders," the Directorate General of Shipping said in an order issued late Wednesday. Two Indian seafarers have been killed in attacks on vessels in the region over the last three days, as tensions escalate in the Middle East, and multiple people died previously, according to government data. CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less Recent attacks on vessels have increased the risks faced by seafarers and commercial ships operating in the conflict-affected area "significantly", the shipping regulator said. "In view of the heightened security situation in the Persian Gulf region ... the Directorate considers it necessary to adopt enhanced precautionary measures to safeguard the interests of Indian seafarers serving on board ships operating in the region," the order said. It also directed masters of the vessels to ensure that they are sufficiently vigilant about the security situation in the Persian Gulf, the Strait of Hormuz and adjoining waters, and called for continuous monitoring of navigational warnings. New Delhi also lodged a strong protest with Iran, summoning its deputy ambassador over one of the deaths on Tuesday. More than 15,000 Indian seafarers are still stranded on the west of the Strait of Hormuz, said Manoj Yadav, general secretary of the Forward Seamen's Union of India. "We can stop the new sets of crews from joining in those areas. But what about those thousands of seafarers who are still trapped in those deadly seas and under the threat to their lives? What is the government doing to take them out?", Yadav told Reuters.

India ask its seafarers not to take Hormuz voyages
Europe
BBC Business

New era for Gibraltar with removal of 118-year-old border controls with Spain

Every weekday morning, Shilpi Chotrani rides her bicycle from her home in the Spanish town of La Línea de la Concepción to Gibraltar. It's a short journey but it means crossing an international border. A British Overseas Territory of around 40,000 inhabitants, Gibraltar has a border control for those entering and leaving. That means that during the morning and afternoon rush hours, when around 15,000 Spaniards who work in the territory cross the frontier, there can be long, time-consuming queues. "The fact that there is a border between us is ridiculous," says Chotrani, who has a job in human resources in a Gibraltarian shipping and tourism company. "I don't think a fence should separate people from one place and another." Behind her, the 1,400-foot-tall Rock of Gibraltar is shrouded in early-morning cloud. Perched at the southern tip of mainland western Europe, it is just nine miles from Morocco, at a point where the Atlantic Ocean and the Mediterranean Sea meet. It is a place that has witnessed military battles, sovereignty disputes and a 13-year blockade imposed by Spain. But from 15 July it is scheduled to see a new development - the removal of the border, allowing freedom of movement between Spain and Gibraltar. This is part of a carefully negotiated agreement between the European Union and the UK following the latter's exit from the bloc. Sharing a land border with the EU meant that Gibraltar posed a unique challenge in the post-Brexit era. "This is going to be a great step forward, both for the Spanish side and the British side," says Chotrani. "All of those of us who live [in La Línea de la Concepción] think this is a great idea. This should have been done a long time ago." Gibraltar has one of the highest per capita incomes in the world. But La Línea de la Concepción and the nearby area is one of the most deprived parts of Spain. Unemployment, which is high across the southern Andalusia region, is close to 30% here. The removal of the border is therefore expected to have major economic benefits, facilitating the flow of people back and forth, and possibly going some way to redress the imbalance between the two territories. "This is something historic, we've had a border fence since 1908," says Juan Franco, the mayor of La Línea de la Concepción, who is keen to underline the local economic dependence on the British territory.

New era for Gibraltar with removal of 118-year-old border controls with Spain
Asia
The Hindu BusinessLine

UltraTech Cement net up 17% on strong realisation, India Cements turnaround

UltraTech Cement, an Aditya Birla Group company, reported that its net profit in the June quarter was up 17 per cent at ₹2,604 crore against ₹2,221 crore in the same period last year on better realisation. Revenue increased 16 per cent to ₹24,648 crore (₹21,275 crore). The profit was partly driven by the turnaround of India Cements, which recorded a net profit of ₹52 crore in the quarter under review against net loss of ₹183 crore logged in same quarter last year. The turnaround was driven by 18 per cent increase in sales volume, sharper cost control focus and enhanced market reach, said UltraTech Cement. UltraTech domestic sales volumes jumped 13 per cent to 39 million tonnes while consolidated sales were up 12 per cent at 41 million tonnes. Capacity utilisation stood at 81 per cent on an installed capacity of 200 mtpa in India, it said. EBITDA per tonne improved to ₹1,214 against ₹1,198 logged in the previous year same quarter, reflecting the company’s continuing focus on cost reduction. Sales realisation was up marginally at ₹5,218 per tonne (₹5,163). UltraTech’s manufacturing platform continued to strengthen during the quarter, building on the significant milestone achieved in April when the company crossed 200 MTPA domestic grey cement capacity and 205 MTPA global capacity, including its international footprint. The company’s expansion programme remains anchored in a balanced combination of greenfield projects, brownfield expansions and debottlenecking opportunities. The approach continues to enhance market reach, improve logistics efficiency and strengthen service reliability across regions, further consolidating UltraTech’s leadership position. During Q1 FY27, the company deployed electric heavy-duty trucks for mining operations and clinker transportation. UltraTech commissioned 20 MW of Waste Heat Recovery System capacity during the quarter. Consequently, the company’s total installed WHRS capacity increased to 434 MW. Along with its renewable energy of 1.4 GW, the company achieved a green power mix of 47 per cent at the end of this quarter. The company has invested ₹888 crore in the wires and cables venture and expects to commission the plant by end of this year. Earlier, UltraTech committed an investment of ₹1,800 crore in the new venture. 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.

UltraTech Cement net up 17% on strong realisation, India Cements turnaround
Asia
The Hindu BusinessLine

Agilus Diagnostics appoints Vijender Singh as MD & CEO

Fortis Healthcare Ltd on Monday said its arm Agilus Diagnostics, has appointed Vijender Singh as its Managing Director & Chief Executive Officer. This follows the resignation of Anand K, who has decided to pursue opportunities outside the organisation after being associated with the company for nearly six years, Fortis Healthcare said in a regulatory filing. Prior to joining Agilus Diagnostics, Singh served as Chairman and Managing Director of Diagnum Healthcare, where he focused on strategic growth, governance and business development. He brings with him over three decades of leadership experience across diagnostics, healthcare, consumer healthcare and FMCG sectors, it added. Commenting on Singh's appointment, Ashutosh Raghuvanshi, Managing Director & Chief Executive Officer, Fortis Healthcare Ltd and Chairman, Agilus Diagnostics, said, "As the diagnostics landscape continues to evolve, we believe his leadership will further strengthen our capabilities, accelerate innovation, enhance customer experience and reinforce Agilus' position as one of India's most trusted diagnostic brands." 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.

Agilus Diagnostics appoints Vijender Singh as MD & CEO
Asia
The Hindu BusinessLine

India continues Olympiad streak; sweeps all gold at Chemistry Olympiad

Indian STEM students continue their victory streak in Olympiads this year with standout performance by India in both Chemistry and Biology Olympiads that concluded on July 19. A team of four Indian students have all bagged gold medals in the 58th International Chemistry Olympiad (IChO) 2026 held in Tashkent, Uzbekistan from July 10-19, 2026. This was India’s best performance in IChO with the first-ever all-gold haul. India was placed at the first position, jointly with China, Vietnam and others. This year’s IChO had 363 students from 93 countries, making it the biggest IChO till date. Similarly, at the 37th International Biology Olympiad (IBO) 2026 held in Vilnius, Lithuania from 12-19 July, 2026, the Indian team of four students won 1 Gold and 3 Silver. What stands out is the truly diverse profile of the winners who come beyond India’s metros. India’s track record at the Chemistry Olympiad has been improving over years with the last ten appearances having a strike rate of 43 per cent gold and 53 per cent silver medals, HBCSE said. This was India’s 27th appearance of India at the IChO. In all these years, 32 per cent of our students have got gold medals, 51 per cent silver and 17 per cent bronze. In case of the Biology challenge, this was India’s 26th appearance at the IBO. Of the 104 students so far, 17 have received gold medals, 69 silver, 17 bronze and 1 honourable mention. In the last ten years, the gold and silver strike rates have been 25 per cent and 68 per cent, respectively. Prime Minister Narendra Modi also took to social media to congratulate both contingents for the stand-out performance. “Their brilliance, dedication and passion for science have made the entire nation proud. It will also motivate countless young minds to study and excel in Chemistry,” he said in a post on X about the IChO winners. The the theory paper covered advanced chemistry topics drawn from real-world and research contexts such as identifying the composition of a blue solution from plant extracts and a yellow mineral from a coal deposit and estimating the mass of uranium used to extinguish the Urtabulak natural gas fire in 1966, among others. Students also completed three hands-on laboratory exercises. In Biology, the testing pushed the boundaries of secondary school biology through exams designed by the Vilnius University Life Sciences Centre. These lasted six hours in total and required students to tackle complex, hands-on experimental tasks across highly specialised domains. 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.

India continues Olympiad streak; sweeps all gold at Chemistry Olympiad
Europe
The Guardian

Trump’s consumer protection head has earned grudging respect – but does he have the authority to do his job?

Chris Mufarrige said doubters should look at his agency’s record and expect more tough consumer-friendly moves this summer. Composite: The Guardian/FTCView image in fullscreenChris Mufarrige said doubters should look at his agency’s record and expect more tough consumer-friendly moves this summer. Composite: The Guardian/FTCConsumedConsumer rightsInterviewTrump’s consumer protection head has earned grudging respect – but does he have the authority to do his job?Heather TimmonsChris Mufarrige has taken aim at Facebook scams and junk fees, but consumer advocates say he has an uphill climb As the director of the Federal Trade Commission’s consumer protection bureau, Chris Mufarrige is the top enforcer protecting Americans against predatory companies. The Trump administration’s push to defund and dismantle the Consumer Finance Protection Bureau, carve-outs for Trump-friendly companies, pardons of white-collar criminals and the firing of FTC commissioners raise doubts about how effective his agency can be. And recent data about Donald Trump’s stock trading and crypto windfalls undermine the anti-corruption push. Mufarrige told the Guardian that doubters should look at his agency’s record, and expect more tough consumer-friendly moves this summer. Since taking the job in early 2025, he has pledged to expand oversight of finance companies and settled with Amazon, StubHub, Instacart, Shutterstock and others on deceptive subscriptions and pricing. An April FTC report spotlights the role Meta’s Facebook, WhatsApp and Instagram play in scams that cost consumers $2.5bn in 2025. This week, the FTC joined five states to force Deere & Co to allow farmers to repair tractors and other equipment, a push started by the Biden administration. “The Facebooks of the world, they have a responsibility here to deal with … clearcut fraud on their platforms,” he said. Woodrow Wilson signed the Federal Trade Commission Act into law in 1914, creating an agency with dual anti-trust and consumer-protection mandates to tackle “unfair methods of competition in or affecting commerce and unfair or deceptive acts or practices in or affecting commerce”. The FTC’s five-member commission is down to just two Republican members, after Trump fired two Democrats in 2025, a move the supreme court backed. The agency has cut 287 employees overall since the end of 2024, according to government data. The following transcript has been edited for clarity and brevity, from interviews conducted before Trump’s latest financial disclosures. This administration has been criticized for siding with business over consumers, and the president and his family for business deals that benefit from his position. Does that impact how effective you can be at your job? It has not impacted my job one bit. I would put our last 15 to 16 months, our record, up against anybody’s. We’ve been extremely active with cases against LA Fitness, Live Nation, Ticketmaster, Uber, Amazon. How does your approach contrast with your predecessors in the Biden administration?

Trump’s consumer protection head has earned grudging respect – but does he have the authority to do his job?