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☆ European shares pulled down by Mercedes, defence stocks up after Poland blast
▼ + stars: | 2022-11-16 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

SummarySummary Companies Mercedes slides on report of China EV price slashesEuropean autos sector eyes worst day in nearly 7 weeksBiden says missile that hit Poland may not have come from RussiaNov 16 (Reuters) - European shares fell on Wednesday, with Mercedes Benz Group leading losses in automobiles stocks, while a blast in Poland kept sentiment subdued and pushed up defence stocks. The pan-European STOXX 600 (.STOXX) index fell 0.4% by 0924 GMT. Auto stocks (.SXAP) tumbled 2.8% to lead sectoral declines, and were headed for their biggest one-day percentage fall in almost seven weeks. The European aerospace and defence (.SXPARO) sector climbed 0.9% following news of the blast. Multiple data points signalled a euro zone recession amid the European Central Bank's aggressive monetary tightening cycle to control record-high inflation.

☆ Tesla reports two new fatal crashes involving driver assistance systems
▼ + stars: | 2022-11-16 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

The National Highway Traffic Safety Administration (NHTSA) in June began releasing data provided by automakers on reports of crashes tied to driver assistance systems like Tesla's Autopilot. NHTSA issued an order in June 2021 requiring automakers and tech companies to immediately report all crashes involving advanced driver assistance systems (ADAS) and vehicles equipped with automated driving systems tested on public roads. Of the 18 fatal crashes reported since July 2021 that had to do with driver assistance systems, nearly all involved Tesla vehicles. Separately, since 2016, NHTSA has opened 38 special investigations of crashes involving Tesla vehicles where advanced driver assistance systems such as Autopilot were suspected of being used. In June, NHTSA upgraded its defect investigation into 830,000 Tesla vehicles with Autopilot, a required step before it could seek a recall.

☆ Amazon launches virtual healthcare clinic in U.S. for common ailments
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +1 min

Nov 15 (Reuters) - Amazon.com Inc (AMZN.O) on Tuesday launched Amazon clinic, a virtual platform where users can connect with healthcare providers to help treat common ailments like allergies and skin conditions. Amazon has for years sought to expand its presence in healthcare. It bought online pharmacy PillPack in 2018, underpinning a prescription delivery and price-comparison site it later launched as Amazon Pharmacy, which lets users buy over-the-counter drugs via Prime memberships. Amazon saidits new service would operate in 32 states, where customers who seek treatment, will be connected to healthcare providers. read moreThe company is also waiting to close its $3.49 billion deal to buy One Medical, as it seeks to expand its virtual healthcare presence and add brick-and-mortar doctors' offices for the first time.

☆ INDIA STOCKS Indian shares edge down as consumer, tech stocks drag
▼ + stars: | 2022-11-15 | by ( Praveen Paramasivam | ) www.reuters.com time to read: +2 min

[1/2] A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, December 11, 2018. REUTERS/Francis MascarenhasBENGALURU, Nov 15 (Reuters) - Indian shares gave up opening gains on Tuesday, dragged by consumer and IT stocks, as investors secured profits after a four-week rally, even as data showed annual retail inflation for October eased roughly in line with estimates. Slower rise in food prices helped India's annual retail inflation ease to 6.77% in October, from 7.41% in the previous month, data showed on Monday. More than 1,000 companies reported their quarterly results on Monday as the country's month-long earnings season drew to a close. Globally, investors will get another look at U.S. inflation when the producer price index data is released at 1330 GMT.

☆ Musk says his companies will remain well positioned in 2023
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +2 min

Nov 11 (Reuters) - Elon Musk, who heads five companies including Tesla Inc (TSLA.O) and Twitter Inc, said in a tweet on Friday that his companies will be well positioned in 2023 despite the possibility of a tough economy. Twitter currently has $13 billion in debt and faces interest payments totaling close to $1.2 billion in the next 12 months. Meanwhile, electric carmaker Tesla added to its inventory in Shanghai, China, at its fastest pace ever in October. Musk told analysts last month that demand was strong in the quarter and he expected Tesla to be "recession-resilient". Musk is also the CEO of satellite internet company SpaceX, brain-chip startup Neuralink and tunneling enterprise The Boring Company.

☆ INDIA STOCKS Indian shares rise as US inflation data cools rate hike fears
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Nov 11 (Reuters) - Indian shares rose over 1% on Friday, boosted by information technology companies and banks as cooling U.S. inflation fuelled hopes that aggressive Federal Reserve rate stance might begin to ease. The NSE Nifty 50 index (.NSEI) rose 1.3% to 18,269 as of 0351 GMT, while the S&P BSE Sensex (.BSESN) added 1.4% to 61,453.18. India will report its October inflation number next week. The Nifty IT index (.NIFTYIT) surged 3.2%, while the bank index (.NSEBANK) gained 1.3%. Shares of Zomato (ZOMT.NS) jumped 10% after the Indian food delivery firm on Thursday reported a narrower loss for the second quarter.

☆ Indian court sends Pernod Ricard exec, Aurobindo director to agency custody
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +2 min

The court's decision came hours after P. Sarath Chandra Reddy of Aurobindo Pharma and Pernod Ricard's Benoy Babu were arrested by the Enforcement Directorate (ED), the country's federal financial crime-fighting agency. The ED last month raided several liquor companies, suppliers and distributors in a money-laundering investigation, according to media reports. Babu is a general manager at Pernod Ricard and handles the French company's international brands business in India, according to his LinkedIn profile. Spokespersons for Pernod Ricard and Aurobindo did not immediately respond to Reuters' requests for comment. Shares in Aurobindo, which makes a range of medicines from antibacterials to antidepressants, fell by 11.75% by close of day.

☆ INDIA STOCKS Indian shares set to open lower ahead of US inflation data
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Nov 10 (Reuters) - Indian shares are expected to open a tad lower on Thursday, with investors bracing for crucial U.S. inflation data that will provide clues about the severity of Federal Reserve's future interest rate hikes. Foreign institutional investors bought net of 3.87 billion Indian rupees ($47.51 million) equities on Wednesday, while domestic investors sold 10.60 billion rupees of shares, as per provisional data available with the National Stock Exchange. ** Indian port operator Adani Ports (APSE.NS) acquired a 49.38% stake in petroleum logistics service provider Oiltanking for 10.5 billion rupees. ** Indian sugar mills are aggressively signing export deals, contracting for about 1 million tonnes just four days after New Delhi approved exports. read more($1 = 81.4650 Indian rupees)Reporting by Nallur Sethuraman in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

Apparel retailers, restaurants, banks, construction companies all saw a rise in sales and orders, as the country geared up for the first pandemic-free festive season in two years. Reuters Graphics"There is definitely a festive boost which cannot be denied and which is reflected in earnings performance," said Vivek Kumar, economist at Mumbai-based QuantEco Research. "There was also some comfort on input prices moderating in the quarter, and a boost from pent-up demand. read moreNair said he expects sales in the festive quarter to top pre-pandemic levels. State Bank of India (SBI) (SBI.NS), the country's largest lender, reported record quarterly profit and forecast credit growth to remain in double-digits.

☆ INDIA STOCKS Indian shares fall as autos drag, awaits U.S. inflation data
▼ + stars: | 2022-11-10 | by ( Sethuraman N R | ) www.reuters.com time to read: +2 min

BENGALURU, Nov 10 (Reuters) - Indian shares fell on Thursday, weighed by auto and metal companies, as investors braced for crucial U.S. inflation data that will provide clues about the severity of the Federal Reserve's future interest rate hikes. The NSE Nifty 50 index (.NSEI) dropped 0.7% to 18,037 as of 0522 GMT, while the S&P BSE Sensex (.BSESN) fell 0.70% to 60,609. Indian benchmark indexes hit an over-9-1/2 month peak on Wednesday, driven by the bank Nifty index (.NSEBANK) touching a record high on the back of improved asset quality and credit growth for lenders. The bank index has gained about 17% so far this year, beating the benchmark Nifty index's 4% gain. Shares of Axis Bank (AXBK.NS) fell 2.7% after the Indian government proposed to sell a 1.55% stake in the private lender.

☆ INDIA STOCKS Indian shares rise as consumer, IT boost
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Nov 9 (Reuters) - Indian shares were trading higher on Wednesday, led by consumer and tech stocks and in lockstep with other Asian equities, while investors awaited domestic earnings reports to gauge corporate health. Meanwhile, data showed foreign institutional investors were net buyers in equities for eight straight days. They bought net of 19.49 billion Indian rupees ($239.52 million) equities on Monday, while domestic investors sold 8.44 billion rupees of shares, as per provisional data available with the National Stock Exchange. In domestic trading, Nifty's FMCG (.NIFTYFMCG) and IT (.NIFTYIT) indexes were among the top performing sectors, adding 0.53% and 0.33%, respectively. ($1 = 81.3700 Indian rupees)Reporting by Rama Venkat in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

☆ Indian companies turn to exotic options to manage fx costs, risks
▼ + stars: | 2022-11-09 | by ( Nimesh Vora | ) www.reuters.com time to read: +3 min

MUMBAI, Nov 9 (Reuters) - A few large Indian companies are returning to exotic currency options to deal with the rupee's volatility as they look to manage hedging costs and foreign exchange risks. These options provide companies increased flexibility to manage their currency risks. Companies are specifically turning to barrier options, a class of knock-out or knock-in options that are exercisable or expire worthless depending on whether a particular level on the underlying asset is reached. When used with proper risk assessment, barrier options help to manage the premium cost, a trader with a large private sector bank said. Meanwhile, foreign exchange consultants warned against large-scale use of exotic options.

☆ Turquoise Hill further delays shareholder meet on $3.3 bln Rio Tinto buyout
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: 1 min

Nov 6 (Reuters) - Canadian miner Turquoise Hill Ltd (TRQ.TO) said it has once again postponed by a week its special shareholder meeting to vote on the proposed take over by Rio Tinto Plc (RIO.L), (RIO.AX) on a request by the mining giant. The meeting to approve Rio Tinto acquiring 49% of shares of Turquoise Hill that it does not own for $3.3 billion, which was originally scheduled for Nov. 1, was postponed to Nov. 8, and now has been pushed back to Nov. 15. Turquoise Hill said Rio, which raised its offer to C$43-per-share, had postponed the meeting at the request of the financial regulator of Quebec and was in talks with the Canadian company's special committee of independent directors and the regulator about the deal. Reporting by Gokul Pisharody in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

☆ INDIA RUPEE Rupee begins week on positive note, U.S. inflation data next trigger
▼ + stars: | 2022-11-07 | by ( Nimesh Vora | ) www.reuters.com time to read: +1 min

MUMBAI, Nov 7 (Reuters) - The Indian rupee rose against the U.S. currency on Monday, on the back of an upbeat risk tone in Asia and the dollar's struggles. The rupee was trading at 82.14 by 0454 GMT, compared with 82.44 in the previous session. The U.S. jobs report supported demand for Asian assets in that the unemployment rate ticked higher. The job number had little impact on U.S. yields and on the probabilities of a 50 or 75 basis points rate hike by the U.S. Federal Reserve next month. "Remember though that we do have another jobs report and two more CPI (consumer price index) reports before the Dec. 14 Fed decision."

☆ Apple adds Pegatron as new iPhone 14 supplier in India - Bloomberg News
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +2 min

[1/2] The iPhone 14, iPhone 14 Pro and iPhone 14 Pro Max are displayed at the Apple Fifth Avenue store, in Manhattan, New York City U.S. September 16, 2022. REUTERS/Andrew KellyNov 4 (Reuters) - Apple Inc's (AAPL.O) Taiwanese contract manufacturer Pegatron Corp (4938.TW) has begun assembling the new iPhone 14 in India, Bloomberg News reported on Friday, citing people familiar with the matter. read moreMeanwhile, Foxxconn (2317.TW), formally Hon Hai Precision Industry Co Ltd, began production of iPhone 14 in India in September, making Pegatron the second producer of the model in India, Bloomberg report added. All of Apple's biggest Taiwanese suppliers, Foxconn, Pegatron and Wistron Corp (3231.TW) , have ramped up iPhone assembly in India, boosted by Prime Minister Narendra Modi's financial incentives program, Bloomberg said. Pegatron declined to comment, whereas a spokesperson for Apple did not immediately respond to a Reuters query.

☆ INDIA STOCKS Indian shares trade higher as metals, Asia boost
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +1 min

In broader Asia, equities rose on Friday, helped by Hong Kong and China stocks. U.S. payrolls data is due later in the day, with any robust data likely to reinforce the Federal Reserve's hawkish outlook. Fed Chair Jerome Powell repeatedly mentioned the robust labour market in his speech after the Fed rate hike earlier this week. In domestic trading, Nifty's metal index (.NIFTYMET) was the best performer among other sectors, rising 1.3%. Reporting by Rama Venkat in Bengaluru; Editing by Dhanya Ann Thoppil and Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ Goldman-backed project44 valued at $2.7 bln in latest funding round
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +1 min

Nov 3 (Reuters) - U.S.-based supply chain management technology company project44 said on Thursday it was valued at $2.7 billion after its latest funding round that also saw participation from existing investor Goldman Sachs Asset Management. The $80 million funding round was led by investment firms Generation Investment Management and A.P. Moller Holding, while buyout firm TPG (TPG.O), venture capital firm Emergence Capital and others also participated. Project44 said the funds will be used to measure and reduce emissions across its global supply chain. The COVID-19 pandemic set off a crisis in global supply chains, which has also worsened inflation and put pressure on central banks to tame price hikes.

☆ INDIA STOCKS Indian shares set for lower opening as Fed keeps hawkish stance
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +3 min

India's NSE stock futures, listed on the Singapore exchange , were 0.94% lower as of 0211 GMT. The Federal Reserve raised interest rates by 75 basis points on Wednesday as widely expected and said its battle against inflation will require borrowing costs to rise further. Meanwhile, foreign institutional investors bought a net 14.36 billion Indian rupees ($173.61 million) worth of equities on Wednesday, while domestic investors sold 13.78 billion rupees of shares, as per provisional data available with the National Stock Exchange. ** Mahindra and Mahindra Financial Services Ltd (MMFS.NS) reported September-quarter profit of 4.48 billion rupees, a 56.2% year-on-year decline. ($1 = 82.7120 Indian rupees)Reporting by Rama Venkat in Bengaluru;Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

☆ Aston Martin flags hit to margins, deliveries from supply chain snags
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +1 min

[1/2] An Aston Martin logo is seen at a dealership in central London, Britain August 29, 2018. REUTERS/Henry NichollsNov 2 (Reuters) - British luxury carmaker Aston Martin (AML.L) on Wednesday warned that higher costs from global supply chain and logistical disruptions would hurt its margins, and lowered its wholesale delivery volume outlook for 2022. "Whilst (supply chain issue) has created short-term impacts on our performance, I am confident that with the actions we are taking, we will exit the year in a stronger position to deliver on our goals for 2023 and beyond," Chief Executive Officer Amedeo Felisa said. The London-listed company now expects to deliver 6,200-6,600 vehicles this year from more than 6,600 vehicles forecast earlier. Reporting by Pushkala Aripaka in Bengaluru; Editing by Dhanya Ann Thoppil and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ FTSE 100 steady, midcaps fall ahead of key Fed meeting
▼ + stars: | 2022-11-02 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

UK pharmaceuticals stocks (.FTNMX201030) rose 1.2% after GSK (GSK.L) said it expects sales to rise between 8% and 10%, sending its shares up 1.2%. The blue-chip FTSE 100 (.FTSE) was flat, while the mid-cap FTSE 250 (.FTMC) fell 0.4% by 0934 GMT, dragged down by budget airline Wizz Air (WIZZ.L) after it said uncertainty for consumers rose. Third-quarter earnings among companies on the FTSE 100 have so far painted a mixed picture, as some firms performed better than expected as COVID restrictions eased globally, while some battled supply chain snags and surging inflation. British American Tobacco Plc fell 3%, to the bottom of FTSE 100, after Goldman Sachs downgraded its performance rating for the stock to "neutral". Reporting by Johann M Cherian in Bengaluru; Editing by Dhanya Ann Thoppil and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Apple reseller Redington Q2 profit up as India sales of phones, laptops rise
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Nov 2 (Reuters) - India's biggest Apple and IT products distributor Redington Ltd (REDI.NS) on Thursday reported a 26% jump in September quarter profit on the back of buoyant domestic demand for phones, laptops and software. Consolidated profit for the three months ended Sept. 30 climbed to 3.87 billion rupees ($46.76 million) from 3.07 billion rupees a year ago, the company said in an exchange filing. The iPhone reseller's quarterly revenue rose to 190.51 billion rupees from 152.87 billion rupees a year ago, per the filing. Earnings before interest, taxes, depreciation and amortization (EBITDA), or core earnings, grew nearly 23% to 5.62 billion rupees, the company said in an investor presentation. Redington shares rose as much as 11.2% to 152.70 rupees after the earnings.

☆ INDIA STOCKS Indian shares seen opening higher, Fed in focus
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +3 min

BENGALURU, Nov 1 (Reuters) - Indian shares may kick off November trading on a higher note on Tuesday, after rising for three straight sessions, tracking gains in broader Asia as investors turn focus to the U.S. Federal Reserve policy meeting this week. India's NSE stock futures, listed on the Singapore exchange , were 0.61% higher as of 0203 GMT. Investors this week will be looking for the outcome of the Fed policy meeting and the outlook on future rate hikes path. The Fed is widely expected to raise interest rates by 75 basis points on Wednesday at the conclusion of its two-day policy meeting. ($1 = 82.7910 Indian rupees)Reporting by Rama Venkat in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

☆ European shares dip as commodity stocks weigh ahead of inflation data
▼ + stars: | 2022-10-31 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +2 min

The STOXX 600 index (.STOXX) had slipped 0.1% by 0925 GMT after closing higher on Friday, with miners (.SXPP) down 0.1% while energy stocks (.SXEP) fell 0.2%. Meanwhile, euro zone inflation is seen hitting a record 10.2% in October, in what will likely make for yet another uncomfortable reading for the European Central Bank (ECB), which is targeting a 2% price growth. Among individual stocks, Credit Suisse (CSGN.S) rose 2.5% as it unveiled details of its plan to raise 4 billion francs ($4.01 billion) from investors. Fresenius Medical Care (FMC) (FMEG.DE) jumped 4.4% after the German dialysis provider on Sunday reported third-quarter earnings above market expectations. Reporting by Shreyashi Sanyal in Bengaluru; Editing by Dhanya Ann Thoppil and Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.

☆ INDIA STOCKS Indian shares seen opening higher to track Asia gains
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +3 min

BENGALURU, Oct 31 (Reuters) - Indian shares may open higher on Monday, after rising for two consecutive weeks, tracking gains in broader Asia and a fall in oil prices. India's NSE stock futures, listed on the Singapore exchange , were 0.92% higher as of 0242 GMT. The MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was up 0.8%. Stocks to watch:** Sugar stocks after India, the world's biggest sugar producer, extended restrictions for export by one year through October 2023, the government said in a notification late on Friday. ($1 = 82.2610 Indian rupees)Reporting by Rama Venkat in Bengaluru;Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

Under the provision cited by the RBI for the meeting, the central bank is required to write a letter to the Indian government explaining its inability to meet the target. A source familiar with the matter confirmed that the meeting has been called to discuss the response to be sent to the government. The MPC, established in 2016, is mandated to keep inflation within 2 percentage points on either side of its 4% target. Reuters GraphicsThe central bank has cited a series of supply shocks, most recently due to the Russia-Ukraine conflict, as one of the reasons for missing the inflation target. Reuters reported the government was comfortable with the central bank meeting the target over the medium term.

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