The Economic Times

The euro was steady at $1.1216, while the British pound rose 0.1% to $1.3308. The Australian dollar was up 0.1% at $0.6986, while its New Zealand counterpart nudged 0.1% higher to $0.5668.

Gold slipped in early Asian trade on Tuesday as investors awaited the US Federal Reserve policy decision next week for signals on interest rates and the broader outlook for monetary policy.

Americans will vote in the November 3 midterm elections to decide control of Congress for the final two years of President Donald Trump's term. Democrats need to gain four seats each in the House and Senate to overturn Republican majorities. While Democrats are widely expected to win the House, the Senate race remains too close to call.

Protests in France erupt over high inflation, leading to political discussions in the US midterm elections. President Donald Trump cites these events to advocate for stricter immigration policies and bolster support for his party. Analysts suggest that while this strategy may resonate with his base, it overlooks pressing domestic issues prioritized by most voters. Experts note that the economy remains the primary concern among Americans in upcoming elections.

'Vote chori ki raasleela': Youth Congress installs Ravan effigy with CEC Gyanesh Kumar's face

Losses were led by a more than 2% drop in South Korea

Oil prices fell on Tuesday as markets weighed an executive order from US President Donald Trump that waived some sanctions and tariffs tied to Russian energy exports, while attacks on Saudi Arabia and Yemen kept fears of Middle East supply disruptions in view.

Net profit surged 448.14% year-on-year to 394.22 crore from 71.92 crore a year ago, while revenue increased 143.62% to 2,541.79 crore from 1,043.34 crore. Sequentially, profit increased 60.49% from the previous month, and revenue rose 32.73%.

Rajinikanth's latest venture, Jailer 2, is creating a stir at the global box office, since its release. In just five days, the action-packed sequel has grossed Rs 477.75 crore, buoyed by festive celebrations. It has claimed the title of the highest-grossing Tamil film of 2026, featuring favourite characters and new foes entwined in idol smuggling schemes. Read on!

Marco Rubio's visit to Mumbai includes discussions on the pending US-India trade deal and bilateral relations. He will meet External Affairs Minister S Jaishankar to address economic cooperation and regional stability. After paying tribute to terror victims, he will attend the Freedom 250 Reception celebrating diplomatic ties between the nations. Following Mumbai, Rubio will travel to Jamnagar to engage further in energy discussions.

Non-ferrous companies are expected to see a sequential decline in earnings, with revenue and Ebitda expected to fall 2% and 13%, respectively. The decline in average LME aluminium prices is likely to weigh on their profitability.

Poland's Ambassador to India affirmed support for India's permanent seat on the United Nations Security Council. This endorsement aligns with broader reforms in global governance that recognize emerging powers from the Global South. India has been praised for its diplomatic efforts concerning the Russia-Ukraine war, promoting peace and dialogue. A potential trilateral summit between Russia, the United States, and China could address this conflict further.

A near 14% year-on-year growth in grey cement volumes to 35.94 mt in the domestic market, though, helped UltraTech clock in a near 19% year-on-year growth in consolidated sales to 23,295 crore. This also helped the profit before interest, depreciation and tax rise more than 17% to 3,832 crore. Consolidated profit for the quarter rose 21% on-year to 1,501 crore.

Last week, the ED's Mumbai Zone conducted searches at 29 premises across six cities-Mumbai, Nashik, Ahmedabad, Gandhinagar, Surat and Bhavnagar-under the Prevention of Money Laundering Act (PMLA). The case relates to R M Drip and Sprinklers Systems and R&B Denims, the agency said. According to the ED, the two companies issued more than 35 million shares and convertible warrants through preferential allotments between April 2023 and March 2024. A substantial portion of the funds allegedly came fr

In a notification dated October 19, the Central Board of Direct Taxes (CBDT) said no tax would be deducted at source on interest paid to eligible bondholders during financial year 2026-27 and subsequent tax years. The exemption covers residents and foreign institutional investors.

Recent rioting in France has led to significant violence, with clashes between police and protesters occurring in major cities. Thousands of arrests were made amid widespread looting and damage to businesses. Protests against rising living costs and poor school conditions occurred alongside the violence. President Macron has condemned the unrest and pledged an uncompromising response to the riots.

According to circulars issued by the NSE, the special trading session will begin at 2:20 pm on Sunday. Continuous trading in stocks covered by the closing auction session (CAS) will end at 3:15 pm, followed by the closing auction, while trading in other stocks will continue until 3:30 pm. Equity futures and options trading will run from 2:20 pm to 3:40 pm.

New Zealand is working to strengthen trade relations with Brazil and Canada in response to economic uncertainties. The country expects to complete the first New Zealand-Brazil Trade and Investment Dialogue after upcoming elections. A new free trade agreement with India has been implemented, making more than half of exports tariff-free. The agreement will benefit various products, including sheep meat and wool, as well as local businesses.

Total advances in the September quarter increased 19% year-on-year to 11.6 lakh crore, led by a 17% growth in domestic advances, which was supported by a 24% increase in corporate advances to 5.2 lakh crore. The bank has a corporate loan pipeline of 1 lakh crore.

Donald Trump indicated a readiness to meet with Vladimir Putin and Xi Jinping to discuss the Ukraine war. He mentioned that negotiations can proceed even without Ukrainian President Volodymyr Zelenskyy. Trump criticized Zelenskyy's handling of the conflict and suggested new leadership for negotiations. This potential trilateral meeting aims for denuclearization and could be arranged during his visit to Asia.

Brokerages remain optimistic about ICICI Bank's strong earnings and asset quality after the recent quarter. However, HDFC Bank's profit growth was modest, and margins are under pressure, leading to a more cautious outlook. Despite this, both banks have attractive valuations and positive earnings recovery prospects. On Monday, both stocks experienced declines, along with broader market indices. Analysts highlight potential upsides for both banks based on target prices.

Billionaire Elon Musk announced plans to donate SpaceX shares to every child in America. The initiative is part of the Trump Accounts program, which aims to provide financial foundations for children. More than 4.5 billion USD has already been contributed to these accounts since their launch. Families and private-sector donors can contribute directly to these children's accounts. This program mainly benefits middle-class households with children under 18 years old.

Global investors included BlackRock Global Funds, Capital Group, Fidelity, New World Fund and American Funds Developing World Growth and Income Fund. Other overseas participants included Abu Dhabi Investment Authority (ADIA), Janus Henderson, Societe Generale, Morgan Stanley Investment Funds, Norway's Government Pension Fund Global, Citadel Securities Singapore, Eastspring Investments, T. Rowe Price, Prudential Hong Kong and Integrated Core Strategies (Asia).

Across Asia, markets were mixed, with South Korea rebounding 1.8% from last week's losses amid simmering concerns over excessive investments in artificial intelligence (AI). Taiwan fell 0.6%, while Indonesia tumbled 3.6% following a warning from index provider MSCI that it would downgrade the country from the emerging market basket.

Apple India's revenue reached

US stocks ended mixed on Monday, with the Nasdaq leading gains as chip and AI-linked stocks bounced back after last weeks sharp selloff. Investors also tracked corporate earnings and fresh stock-specific moves, while concerns over AI spending and financing remained in focus.

The threat actor describes this as the first disclosure of the dataset, Cyberpulse56 said, adding that the authenticity, origin and extent of the alleged exposure are inverified. If legitimate, the data could facilitate identity theft, financial fraud, targeted phishing and fraudulent loan applications, the group said.

Five of the worlds space agencies joined forces for the five-year mission that will attempt to land a robotic prospector plus a rover on Phobos, the larger and closer of Mars two pint-sized moons. The Japan Aerospace Exploration Agency, which is leading the bold sampling effort, launched the spacecraft before dawn from the country's main spaceport on Tanegashima Island.

On Monday, the RBI announced a Rs 1-lakh-crore variable rate repo (VRR) auction for the first time since late July after the weighted average call rate (WACR) at 5.67% on Monday, or 17 basis points higher than the repo rate of 5.50%. The central bank will conduct another VRR for Rs 50,000 crore on Wednesday.

The manner and the timing of reinstatement of the bonds as well as payment of the coupon is also under assessment, Niranjan Banodkar, CFO, Yes Bank told analysts over a call after the earnings.

India's government will consult stakeholders on measures to mitigate the impact of Chinese export constraints. China recently imposed new restrictions on heavy machinery, such as tunnel boring machines, set to take effect soon. Indian officials assert that there should be no significant slowdown in highway development despite these curbs. The domestic construction industry is becoming increasingly self-sufficient regarding general equipment needs.

The finance ministry is launching a campaign to saturate financial schemes across various local bodies. This initiative will reach 2.70 lakh gram panchayats and urban local bodies throughout India. Banks are expected to organize camps for enrolments and Aadhaar seeding for key schemes. The campaign will also involve updating nominations in savings accounts and providing other financial facilities.

Saudi Arabia has expressed interest in cooperating with India on extra-high-voltage electricity transmission systems. The focus includes managing renewable energy integration to meet rising power demands. A virtual meeting took place between officials from both countries to discuss these initiatives. Technical cooperation aims to address challenges in electricity needs for data centres and grid codes. Ongoing discussions will continue on electrical interconnection and additional cooperation area

SAD president Sukhbir Singh Badal will launch the first phase on November 10 from Talwandi Sabo, covering more than 65 assembly constituencies in the Malwa region. The yatra will cover two constituencies every day, with Badal travelling by road in a specially designed bus and addressing party workers and gatherings along the route.

The Reserve Bank of India is implementing stricter scrutiny on large overseas direct investments by Indian companies. Banks must now collect and present detailed information regarding these investments to the RBI. This initiative aims to prevent potential losses for both the companies and the Indian economy. The RBI's checklist requires banks to conduct thorough due diligence on the rationale behind each investment.

Consumers in Gurugram and Nuh will be able to select between two power distribution companies soon. Eleven Power Pvt Ltd has been granted a 25-year license to supply electricity in these districts. The existing utility will remain available for consumers alongside Eleven Power. A detailed plan for execution and consumer switching procedures must be submitted within 60 days.

Paul John, founder of John Distilleries, is considering retaining a minority stake of 10% to 20%. Sazerac, which now holds 65.7% of the company, values John Distilleries at about 4,500 crore. The company's revenue increased by 15.1% to 10,820 crore in FY26, and net profit surged significantly. However, escalating state duties in Karnataka are impacting retail prices and consumption.

Hedge funds cut technology exposure at the fastest pace in at least a decade as the global AI trade weakened and tech stocks bore the brunt of last weeks selloff. Goldman Sachs data showed funds reduced risk sharply, although technology remained a major part of their portfolios.

The separate complaints by Srinivasan and Singh amid a protracted battle within the Tata group had named SDTT's chairman Noel Tata and his son Neville, who is the vice chairman. SDTT owns nearly 24 per cent stake in Tata Sons, which makes it the largest owner among the shareholders in the holding company of the country's largest conglomerate.

Ferrari is expanding its presence in India by opening dealerships in Chennai and Ahmedabad. The company aims to take advantage of the proposed EU-India trade agreement, which could lower import duties on luxury vehicles. Ferraris CEO emphasized the importance of developing relationships with Indian customers and enthusiasts. The automaker has also unveiled an electric vehicle at its first exhibition in India.

Three coronary stent models from Meril Life Sciences were withdrawn from the Sri Lankan market due to performance issues. The National Medicines Regulatory Authority conducted an investigation that revealed critical failures. The Central Drugs Standard Control Organisation is auditing manufacturing facilities to address quality concerns. Stricter regulations and robust post-market surveillance measures are necessary to ensure patient safety.

The governments push for indigenous content is creating significant opportunities across the ecosystem, but customer delays in inspecting finished products are holding up deliveries. We have also had these issues in the past, where products were ready, but the inspection team did not arrive because their own requirement to deliver had probably been delayed, said chairman and managing director S Rangarajan.

Shah will travel to Mansa, Sangrur and Gurdaspur to meet the families of Parvinder Singh Jhota, Gulzar Singh and Bikramjit Singh. The visit comes days after the Ministry of Home Affairs sought detailed reports from the Punjab government on the three cases.