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Elon Musk's Boring Co raised about $117 million in its latest round of funding from 20 unnamed investors after offering to sell about $120 million in equity, the company disclosed in a regulatory filing on Friday.

The company had raised $112.5 million in equity in April last year, with Musk investing 90% of the amount, as the company seeks to build underground tunnels for a hyperloop transportation project.&nbsp;

Boring Co did not provide details on the funding.

Musk, who also leads electric-car maker Tesla Inc and rocket company SpaceX, has been seeking to revolutionize transportation by sending passengers packed into pods through an intercity system of giant, underground vacuum tubes known as the hyperloop.&nbsp;

In the past, Musk has sold Boring Co's hats and flamethrowers to raise funds.&nbsp;

The company has completed its project Test Tunnel, located in Hawthorne, California, and other ongoing projects include the Chicago Express Loop and the Las Vegas Convention Center Loop.&nbsp;

Elon Musk's Boring Co raised about $117 million in its latest round of funding from 20 unnamed investors after offering to sell about $120 million in equity, the company disclosed in a regulatory filing on Friday.

Elon Musk's Boring Co raised about $117 million in its latest round of funding from 20 unnamed investors after offering to sell about $120 million in equity, the company disclosed in a regulatory filing on Friday. The company had raised $112.5 million in equity in April last year, with Musk investing 90% of the amount, as the company seeks to build underground tunnels for a hyperloop transportation project. Boring Co did not provide details on the funding. Musk, who also leads electric-car maker Tesla Inc and rocket company SpaceX, has been seeking to revolutionize transportation by sending passengers packed into pods through an intercity system of giant, underground vacuum tubes known as the hyperloop. In the past, Musk has sold Boring Co's hats and flamethrowers to raise funds. The company has completed its project Test Tunnel, located in Hawthorne, California, and other ongoing projects include the Chicago Express Loop and the Las Vegas Convention Center Loop.

Elon Musk's Boring Co raises about $117 million in latest funding round

ICICI Bank Ltd, India`s second-largest private lender, reported a quarterly profit on Saturday compared with a loss a year earlier, helped by lower provisions and higher retail loan growth.

Net profit for the quarter ended June 30 was 19.08 billion rupees ($277.04 million), compared with a loss of 1.20 bln rupees in the same period a year ago, the bank said in a statement.

But the profit fell slightly short of the average forecast of 20.87 billion rupees from 19 analysts, according to Refinitiv data.

ICICI, which has been under pressure lately due to rising bad loans, said net non-performing assets at the end of the June quarter were down 51% to $1.17 billion.

Quarterly provisions fell to $507 million from $865 million a year ago.&nbsp;

Net interest margin, a key indicator of the bank`s profitability, was 3.61% in the quarter, compared with 3.19% in the year-ago quarter.

Earlier in the week, ICICI's peer Kotak Mahindra Bank Ltd also reported a profit that fell marginally shy of estimates and joined the country`s largest private lender HDFC Bank in warning of the slowing pace of domestic growth.&nbsp;

The warnings from the private lenders in Asia's third-largest economy, which have been dealing with a large pile of stressed loans, have spooked investors.

ICICI Bank Ltd, India`s second-largest private lender, reported a quarterly profit on Saturday compared with a loss a year earlier, helped by lower provisions and higher retail loan growth.

ICICI Bank Ltd, India`s second-largest private lender, reported a quarterly profit on Saturday compared with a loss a year earlier, helped by lower provisions and higher retail loan growth. Net profit for the quarter ended June 30 was 19.08 billion rupees ($277.04 million), compared with a loss of 1.20 bln rupees in the same period a year ago, the bank said in a statement. But the profit fell slightly short of the average forecast of 20.87 billion rupees from 19 analysts, according to Refinitiv data. ICICI, which has been under pressure lately due to rising bad loans, said net non-performing assets at the end of the June quarter were down 51% to $1.17 billion. Quarterly provisions fell to $507 million from $865 million a year ago. Net interest margin, a key indicator of the bank`s profitability, was 3.61% in the quarter, compared with 3.19% in the year-ago quarter. Earlier in the week, ICICI's peer Kotak Mahindra Bank Ltd also reported a profit that fell marginally shy of estimates and joined the country`s largest private lender HDFC Bank in warning of the slowing pace of domestic growth. The warnings from the private lenders in Asia's third-largest economy, which have been dealing with a large pile of stressed loans, have spooked investors.

Lower provisions help ICICI bank swing to first-quarter profit

Kaydence Media Ventures - the media arm of the UAE based Kaydence and Kianna are all set to launch its innovative news and virtual incubation hub platform focused on start-ups - Incubees - in India, Middle East, North Africa and Asia-Pacific.

The 'Incubees'&nbsp;initiative and a prototype of its platform were recently displayed at the Investor Demo Day held at Forum of Innovation Incubation Research and Entrepreneurship (FIIRE) hub in Goa this week.

"Our aim is to find an idea, nurture it and give it winds beneath its wing to fly. India, MENA and Asia-Pacific are regions bustling with new ideas, energetic young minds and purpose-driven innovations to make their regions and the world a better place. We need to encourage the process of ideation and give them a platform to shares their ideas, find mentors to help take an idea and build it into an enterprise; find partners and investors that can make the idea into a reality. Incubees - is that angel in the media space that helps the idea find a reality", stated Savio Rodrigues, Founder, Kaydence Media Ventures.

In highly competitive and vibrant start-up markets in India, MENA and Asia-Pacific, the Incubees team believes its unique focus on individuals, ideas and markets will carve a niche for its platform, "Most news portals in India, MENA and Asia-Pacific tell you stories of start-ups in the seed or growth or scaling stage and maturity, exist, IPO or M&amp;A stage but we are focused on the concept or idea stage, pre-see or validation stage and seed or early traction stage.

More importantly, the platform has an inbuilt service of a Virtual Incubation Hub to reach out to young minds at their homes and garages where their ideas are germinating," expressed Rodrigues. India is currently home to over 14,600 start-ups, approximately 270 incubation and business acceleration programs according to the Start-up India 2018-19 Report.

"We want to focus on those bright minds that don't have the voice and opportunity to take forward their ideas from their homes to the world, connect them to strategic mentors and create an eco-system of ideation and implementation of ideas.

In our first phase, we are focusing on India and the Middle East and in the second phase on the Asia-Pacific markets", expressed Myrtle Rodrigues, Co-founder, Kaydence Media Ventures.

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article.

Kaydence Media Ventures - the media arm of the UAE based Kaydence and Kianna are all set to launch its innovative news and virtual incubation hub platform focused on start-ups - Incubees - in India, Middle East, North Africa and Asia-Pacific.

Kaydence Media Ventures - the media arm of the UAE based Kaydence and Kianna are all set to launch its innovative news and virtual incubation hub platform focused on start-ups - Incubees - in India, Middle East, North Africa and Asia-Pacific. The 'Incubees' initiative and a prototype of its platform were recently displayed at the Investor Demo Day held at Forum of Innovation Incubation Research and Entrepreneurship (FIIRE) hub in Goa this week. "Our aim is to find an idea, nurture it and give it winds beneath its wing to fly. India, MENA and Asia-Pacific are regions bustling with new ideas, energetic young minds and purpose-driven innovations to make their regions and the world a better place. We need to encourage the process of ideation and give them a platform to shares their ideas, find mentors to help take an idea and build it into an enterprise; find partners and investors that can make the idea into a reality. Incubees - is that angel in the media space that helps the idea find a reality", stated Savio Rodrigues, Founder, Kaydence Media Ventures. In highly competitive and vibrant start-up markets in India, MENA and Asia-Pacific, the Incubees team believes its unique focus on individuals, ideas and markets will carve a niche for its platform, "Most news portals in India, MENA and Asia-Pacific tell you stories of start-ups in the seed or growth or scaling stage and maturity, exist, IPO or M&A stage but we are focused on the concept or idea stage, pre-see or validation stage and seed or early traction stage. More importantly, the platform has an inbuilt service of a Virtual Incubation Hub to reach out to young minds at their homes and garages where their ideas are germinating," expressed Rodrigues. India is currently home to over 14,600 start-ups, approximately 270 incubation and business acceleration programs according to the Start-up India 2018-19 Report. "We want to focus on those bright minds that don't have the voice and opportunity to take forward their ideas from their homes to the world, connect them to strategic mentors and create an eco-system of ideation and implementation of ideas. In our first phase, we are focusing on India and the Middle East and in the second phase on the Asia-Pacific markets", expressed Myrtle Rodrigues, Co-founder, Kaydence Media Ventures. This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article.

Kaydence Media Ventures to launch 'Incubees' in India, Middle East, North Africa, Asia Pacific

Twitter Inc posted a better-than-expected second-quarter revenue on Friday and an uptick in daily users who see advertisements on the site, driven by changes to show users more relevant content.

However, the company forecast third-quarter revenue below many Wall Street estimates and said revenue growth would lag the first two quarters, partly due to ending some older ad formats.

Twitter's revenue and the number of users have been in focus since the social media platform started deleting millions of spam or fake accounts promoting hate speech or spreading political misinformation, contributing to declines in monthly users through 2018.

The company reported a rise in monthly active users in the first quarter, fueling speculation that Twitter was returning to growth, but has since stopped disclosing its MAU count.

Instead, this quarter it reported monetizable daily active usage (mDAU), a metric it created to measure only users exposed daily to advertising on the site and exclude those who access Twitter via aggregating sites like TweetDeck.

Its monetizable daily active usage (mDAU) hit 139 million, beating analyst expectations of 135 million, according to IBES data from Refinitiv.

Chief Executive Officer Jack Dorsey said machine learning improvements to deliver more relevant content helped drive up to this count.

Twitter reported a second-quarter profit of $1.1 billion, or $1.43 per share, compared with $100 million, or 13 cents per share, a year earlier. Profit was boosted by an income tax benefit of over $1 billion related to corporate restructuring.

Twitter's revenue rose 18% from a year earlier to $841 million, beating Wall Street expectations of $829 million, based on Refinitiv data.

Total advertising revenue rose to $727 million, an increase of 21 per cent&nbsp;year-on-year, as the company continued to improve its ad platform and formats.

It forecast total revenue for the third quarter to be between $815 million and $875 million. Analysts on average were expecting about $869.3 million.

Twitter has continued to bulk up its live and on-demand video content partnerships. On Thursday, NBCUniversal said they would team up to live-stream parts of the 2022 Olympic Games, Twitter's latest move in a series of deals aimed at boosting sports conversation on the platform.

It also expanded its multimedia features, launching a Snapchat-style camera feature in the Twitter app and releasing its long-awaited tool for clipping and publishing video.

Last week, the company rolled out its redesigned site and in March launched "twttr," a prototype app where certain users can test out new features as part of its efforts to make conversations easier to find and follow.

Twitter also recently updated its policies on hateful conduct directed at religious groups and last month introduced a new policy to de-emphasize and label rule-breaking tweets from important sources like politicians, though this has not yet been used.

Total operating expenses, including the cost of revenue, rose by 21 per cent&nbsp;to $766 million, partly due to plans to hire more employees.

Twitter Inc posted a better-than-expected second-quarter revenue on Friday and an uptick in daily users who see advertisements on the site, driven by changes to show users more relevant content.

Twitter Inc posted a better-than-expected second-quarter revenue on Friday and an uptick in daily users who see advertisements on the site, driven by changes to show users more relevant content. However, the company forecast third-quarter revenue below many Wall Street estimates and said revenue growth would lag the first two quarters, partly due to ending some older ad formats. Twitter's revenue and the number of users have been in focus since the social media platform started deleting millions of spam or fake accounts promoting hate speech or spreading political misinformation, contributing to declines in monthly users through 2018. The company reported a rise in monthly active users in the first quarter, fueling speculation that Twitter was returning to growth, but has since stopped disclosing its MAU count. Instead, this quarter it reported monetizable daily active usage (mDAU), a metric it created to measure only users exposed daily to advertising on the site and exclude those who access Twitter via aggregating sites like TweetDeck. Its monetizable daily active usage (mDAU) hit 139 million, beating analyst expectations of 135 million, according to IBES data from Refinitiv. Chief Executive Officer Jack Dorsey said machine learning improvements to deliver more relevant content helped drive up to this count. Twitter reported a second-quarter profit of $1.1 billion, or $1.43 per share, compared with $100 million, or 13 cents per share, a year earlier. Profit was boosted by an income tax benefit of over $1 billion related to corporate restructuring. Twitter's revenue rose 18% from a year earlier to $841 million, beating Wall Street expectations of $829 million, based on Refinitiv data. Total advertising revenue rose to $727 million, an increase of 21 per cent year-on-year, as the company continued to improve its ad platform and formats. It forecast total revenue for the third quarter to be between $815 million and $875 million. Analysts on average were expecting about $869.3 million. Twitter has continued to bulk up its live and on-demand video content partnerships. On Thursday, NBCUniversal said they would team up to live-stream parts of the 2022 Olympic Games, Twitter's latest move in a series of deals aimed at boosting sports conversation on the platform. It also expanded its multimedia features, launching a Snapchat-style camera feature in the Twitter app and releasing its long-awaited tool for clipping and publishing video. Last week, the company rolled out its redesigned site and in March launched "twttr," a prototype app where certain users can test out new features as part of its efforts to make conversations easier to find and follow. Twitter also recently updated its policies on hateful conduct directed at religious groups and last month introduced a new policy to de-emphasize and label rule-breaking tweets from important sources like politicians, though this has not yet been used. Total operating expenses, including the cost of revenue, rose by 21 per cent to $766 million, partly due to plans to hire more employees.

Twitter beats revenue expectation, sees rise in daily users viewing ads

Alphabet Inc shares rose about 8 per cent&nbsp;after the company reported quarterly results that eased investors' concerns about growth challenges facing its <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/australia-to-lift-veil-on-facebook-google-algorithms-to-protect-privacy-238610&amp;sa=U&amp;ved=2ahUKEwi795iK0NLjAhVdnI8KHd4yA3EQFjADegQIEBAC&amp;usg=AOvVaw0DjuqZIq45MxG5qQMQLYOz">Google</a> advertising business.

Driven by ad sales, second-quarter revenue and earnings beat analysts' expectations. Also, the world's largest online search and ads firm, unlike No. 2 online ad player <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/facebook-to-create-privacy-panel-pay-5-billion-to-us-to-settle-data-breach-allegations-238141&amp;sa=U&amp;ved=2ahUKEwin3vee0NLjAhUJuY8KHX4XCmoQFjAJegQIABAC&amp;usg=AOvVaw3oWENcDFaT7j5nwu9RI2L3">Facebook Inc</a> a day earlier, offered no worrisome guidance about increasing regulatory scrutiny.

The results helped Alphabet dismiss as a rare blip a $1 billion revenue miss in the first quarter, which had prompted an outburst of investor questions and the biggest one-day sell-off in its shares in about seven years.

In after-hours trade on Thursday, the shares rose to $1,226.60, on track for their biggest single-day increase in four years though still down about 4% from their highs before the April slide.

Alphabet's shares have lagged peers on Wall Street this year, rising about 9 per cent through Thursday's close, compared to a roughly 20% gain for the S&amp;P 500 broadly.

Questions linger about whether privacy, content moderation and antitrust rules proposed or already passed in the United States and other high-revenue countries will slash ad prices. Google also faces an industrywide slowdown in ad sales in the United States and Europe, with revenue from emerging markets not yet picking up the slack.

Google Chief Executive Sundar Pichai told analysts on Thursday that advances in ad targeting and new services for consumers worldwide would spur growth. He said the company had survived calls for regulation before.

"We understand there will be scrutiny," and "we will engage constructively," he said.

WEAKENING CONCERNS

Alphabet, which generates about 85 per cent of its revenue from sales of ad space and ad technology, reported total second-quarter revenue of $38.9 billion. That was up 19% over last year and compared with 17% growth in the first quarter. Analysts on average estimated 16.8% growth and $38.2 billion in revenue, according to IBES data from Refinitiv.

The last time that Alphabet had two consecutive quarters of revenue growth below 20% was three years ago.

Executives said the latest results backed their contention that the performance recently has been affected by currency exchange rates and one-off fluctuations rather than advertiser flight or some deeper challenge to its business.

Alphabet's chief financial officer, Ruth Porat, appeared to dispel other analyst concerns, saying the company has seen "virtually no impact" to revenue from efforts to stop running ads on YouTube videos that some have characterized as extremist or hateful.

Alphabet authorized up to $25 billion in new stock buybacks, aiming to make use of its $121 billion in cash.

Pichai said quarterly revenue from licensing cloud computing services and workplace software jumped to about $2 billion, from its last disclosure of $1 billion at the end of 2017. He said the cloud unit would triple its sales staff over the next few years.

Atlantic Equities analyst James Cordwell told Reuters in an email that the buyback and cloud updates "suggests that management cares about stock performance, which will be a relief to shareholders!"

Net income for the second quarter rose to $9.95 billion, or $14.21 per share, compared with analysts' estimates of $8.02 billion, or $11.32 per share.

Alphabet’s quarterly costs at $29.76 billion were about flat with the same period a year ago. The operating margin was 24%, up from 18% in the first quarter.

Alphabet in its earnings release on Thursday did not mention any government investigations.

Facebook Inc, along with the release of its earnings on Wednesday, said the FTC had informed it last month that it was under antitrust investigation. The social media giant also acknowledged a broad US&nbsp;Department of Justice's antitrust review of large internet companies.

Reuters reported last month that the US&nbsp;Federal Trade Commission was gearing up to investigate Google over complaints of anti-competitive behaviour.

Accusations lodged against Google by rivals and other critics span its advertising, app store, search and other businesses.

On Thursday, the Texas attorney general's office announced that a bipartisan group of state attorneys general is weighing a range of antitrust actions against big tech companies.

Alphabet Inc shares rose about 8 per cent after the company reported quarterly results that eased investors' concerns about growth challenges facing its Google advertising business.

Alphabet Inc shares rose about 8 per cent after the company reported quarterly results that eased investors' concerns about growth challenges facing its Google advertising business. Driven by ad sales, second-quarter revenue and earnings beat analysts' expectations. Also, the world's largest online search and ads firm, unlike No. 2 online ad player Facebook Inc a day earlier, offered no worrisome guidance about increasing regulatory scrutiny. The results helped Alphabet dismiss as a rare blip a $1 billion revenue miss in the first quarter, which had prompted an outburst of investor questions and the biggest one-day sell-off in its shares in about seven years. In after-hours trade on Thursday, the shares rose to $1,226.60, on track for their biggest single-day increase in four years though still down about 4% from their highs before the April slide. Alphabet's shares have lagged peers on Wall Street this year, rising about 9 per cent through Thursday's close, compared to a roughly 20% gain for the S&P 500 broadly. Questions linger about whether privacy, content moderation and antitrust rules proposed or already passed in the United States and other high-revenue countries will slash ad prices. Google also faces an industrywide slowdown in ad sales in the United States and Europe, with revenue from emerging markets not yet picking up the slack. Google Chief Executive Sundar Pichai told analysts on Thursday that advances in ad targeting and new services for consumers worldwide would spur growth. He said the company had survived calls for regulation before. "We understand there will be scrutiny," and "we will engage constructively," he said. WEAKENING CONCERNS Alphabet, which generates about 85 per cent of its revenue from sales of ad space and ad technology, reported total second-quarter revenue of $38.9 billion. That was up 19% over last year and compared with 17% growth in the first quarter. Analysts on average estimated 16.8% growth and $38.2 billion in revenue, according to IBES data from Refinitiv. The last time that Alphabet had two consecutive quarters of revenue growth below 20% was three years ago. Executives said the latest results backed their contention that the performance recently has been affected by currency exchange rates and one-off fluctuations rather than advertiser flight or some deeper challenge to its business. Alphabet's chief financial officer, Ruth Porat, appeared to dispel other analyst concerns, saying the company has seen "virtually no impact" to revenue from efforts to stop running ads on YouTube videos that some have characterized as extremist or hateful. Alphabet authorized up to $25 billion in new stock buybacks, aiming to make use of its $121 billion in cash. Pichai said quarterly revenue from licensing cloud computing services and workplace software jumped to about $2 billion, from its last disclosure of $1 billion at the end of 2017. He said the cloud unit would triple its sales staff over the next few years. Atlantic Equities analyst James Cordwell told Reuters in an email that the buyback and cloud updates "suggests that management cares about stock performance, which will be a relief to shareholders!" Net income for the second quarter rose to $9.95 billion, or $14.21 per share, compared with analysts' estimates of $8.02 billion, or $11.32 per share. Alphabet’s quarterly costs at $29.76 billion were about flat with the same period a year ago. The operating margin was 24%, up from 18% in the first quarter. Alphabet in its earnings release on Thursday did not mention any government investigations. Facebook Inc, along with the release of its earnings on Wednesday, said the FTC had informed it last month that it was under antitrust investigation. The social media giant also acknowledged a broad US Department of Justice's antitrust review of large internet companies. Reuters reported last month that the US Federal Trade Commission was gearing up to investigate Google over complaints of anti-competitive behaviour. Accusations lodged against Google by rivals and other critics span its advertising, app store, search and other businesses. On Thursday, the Texas attorney general's office announced that a bipartisan group of state attorneys general is weighing a range of antitrust actions against big tech companies.

Alphabet's revenue rebounds easing doubts on growth

Equity indices continued to slip during early hours on Friday in line with their Asian peers as investors remained cautious amid corporate results season.

At 10:15 am, the BSE S&amp;P Sensex was down 101 points at 37,730 while the Nifty 50 slipped 19 points to 11,234.

At the National Stock Exchange, sectoral indices were mixed with Nifty IT, media and metal in the red while PSU banks gained 1.7 per cent.

Among stocks, Indian Oil Corporation dropped by 2.6 per cent and traded at Rs 142.75 per share. Vedanta dropped by over 2 per cent, UPL by 1.8 per cent, Bharti Airtel by 1.5 per cent and ONGC by over 1 per cent.

However, Mahindra &amp; Mahindra and Bharti Infratel edged higher by 2 per cent. The other prominent gainers were Bajaj Finserv, Indiabulls Housing Finance and Zee Entertainment.

Meanwhile, Asian stocks retreated after their US counterparts fell from record highs amid mixed corporate earning results.

Stocks fell in Japan and South Korea while China and Hong Kong opened lower as the European Central Bank unexpectedly held interest rates steady.

Uncertainties over whether Washington and Beijing will be able to settle differences over trade kept many investors on guard. Negotiators from the two sides will meet in Shanghai next week.

Equity indices continued to slip during early hours on Friday in line with their Asian peers as investors remained cautious amid corporate results season. At 10:15 am, the BSE S&P Sensex was down 101 points at 37,730 while the Nifty 50 slipped 19 points to 11,234.

Equity indices continued to slip during early hours on Friday in line with their Asian peers as investors remained cautious amid corporate results season. At 10:15 am, the BSE S&P Sensex was down 101 points at 37,730 while the Nifty 50 slipped 19 points to 11,234. At the National Stock Exchange, sectoral indices were mixed with Nifty IT, media and metal in the red while PSU banks gained 1.7 per cent. Among stocks, Indian Oil Corporation dropped by 2.6 per cent and traded at Rs 142.75 per share. Vedanta dropped by over 2 per cent, UPL by 1.8 per cent, Bharti Airtel by 1.5 per cent and ONGC by over 1 per cent. However, Mahindra & Mahindra and Bharti Infratel edged higher by 2 per cent. The other prominent gainers were Bajaj Finserv, Indiabulls Housing Finance and Zee Entertainment. Meanwhile, Asian stocks retreated after their US counterparts fell from record highs amid mixed corporate earning results. Stocks fell in Japan and South Korea while China and Hong Kong opened lower as the European Central Bank unexpectedly held interest rates steady. Uncertainties over whether Washington and Beijing will be able to settle differences over trade kept many investors on guard. Negotiators from the two sides will meet in Shanghai next week.

Sensex down over 100 points in early trade, PSU banks gain

Asian share prices opened a tad lower on Friday on mixed US earnings reports and the euro held above two-year lows struck overnight after the European Central Bank held interest rates steady, though officials said a cut was certain in September.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.15% while Japan's Nikkei dipped 0.3%.

Wall Street shares fell from record highs on Thursday, with the S&amp;P 500 losing 0.53%, following a flurry of downbeat quarterly results from Ford Motor and other companies.

But several companies that announced their results after the market had closed on Thursday generally beat market expectations, and their shares rose in after-hours trade.

Google parent Alphabet rose 8.4%, Intel Corp 5.6% and Starbucks 6.4%. Amazon, however, dipped 1.7% on its first profit miss in two years.

US stock futures were little changed in Asia.

"Some capital goods makers have reported soft earnings but otherwise US earnings have been generally good, partly because investors had already lowered their expectations," said Hitoshi Asaoka, senior strategist at Asset Management One.

"Still, with US share prices already at record levels, further gains are likely to be limited unless we see clearer signs of recovery in global demand," he said.

A rally in global bonds ran out of steam after European Central Bank President Mario Draghi cautioned about pulling the trigger too quickly even though he signalled another round of monetary easing.

ECB Officials told Reuters after the meeting that an interest rate cut in September appeared certain, while government bond purchases and a revamped policy message were also likely.

The euro's overnight index swaps are pricing in a cut of more than 10 basis points in September.

The 10-year German government bond yield initially hit a record low of minus 0.463 per cent but ended the day up slightly at minus 0.407 per cent.

The US 10-year Treasuries yield also rose 3 basis points to 2.079 per cent on Thursday and traded at 2.107 per cent in the following Asian session.

Also helping to stem falls in bond yields, new orders for key US-made capital goods surged in June, suggesting some improvement in business investment.

In the currency market, the euro bounced back to at $1.11465 in Asian trade, after sinking to $1.1101 on Thursday, its lowest since May 2017.

The yen was little changed against the dollar at 108.67 yen per dollar.

Oil prices held firm on rising tensions between the West and Iran and a big decline in US crude stockpiles, though gains were held in check by worries about slowing growth in major economies.

Asian share prices opened a tad lower on Friday on mixed US earnings reports and the euro held above two-year lows struck overnight after the European Central Bank held interest rates steady, though officials said a cut was certain in September.

Asian share prices opened a tad lower on Friday on mixed US earnings reports and the euro held above two-year lows struck overnight after the European Central Bank held interest rates steady, though officials said a cut was certain in September. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.15% while Japan's Nikkei dipped 0.3%. Wall Street shares fell from record highs on Thursday, with the S&P 500 losing 0.53%, following a flurry of downbeat quarterly results from Ford Motor and other companies. But several companies that announced their results after the market had closed on Thursday generally beat market expectations, and their shares rose in after-hours trade. Google parent Alphabet rose 8.4%, Intel Corp 5.6% and Starbucks 6.4%. Amazon, however, dipped 1.7% on its first profit miss in two years. US stock futures were little changed in Asia. "Some capital goods makers have reported soft earnings but otherwise US earnings have been generally good, partly because investors had already lowered their expectations," said Hitoshi Asaoka, senior strategist at Asset Management One. "Still, with US share prices already at record levels, further gains are likely to be limited unless we see clearer signs of recovery in global demand," he said. A rally in global bonds ran out of steam after European Central Bank President Mario Draghi cautioned about pulling the trigger too quickly even though he signalled another round of monetary easing. ECB Officials told Reuters after the meeting that an interest rate cut in September appeared certain, while government bond purchases and a revamped policy message were also likely. The euro's overnight index swaps are pricing in a cut of more than 10 basis points in September. The 10-year German government bond yield initially hit a record low of minus 0.463 per cent but ended the day up slightly at minus 0.407 per cent. The US 10-year Treasuries yield also rose 3 basis points to 2.079 per cent on Thursday and traded at 2.107 per cent in the following Asian session. Also helping to stem falls in bond yields, new orders for key US-made capital goods surged in June, suggesting some improvement in business investment. In the currency market, the euro bounced back to at $1.11465 in Asian trade, after sinking to $1.1101 on Thursday, its lowest since May 2017. The yen was little changed against the dollar at 108.67 yen per dollar. Oil prices held firm on rising tensions between the West and Iran and a big decline in US crude stockpiles, though gains were held in check by worries about slowing growth in major economies.

Asian shares dip on mixed US earnings, euro off 2-year low as ECB holds

Mattel Inc reported a surprise rise in quarterly revenue on Thursday, as the success of the latest 'Toy Story' movie boosted demand for its action figures and a makeover of Barbie lifted sales of the iconic dolls, sending its shares up 5%.&nbsp; 
 
The toymaker also achieved its full-year cost savings target six months ahead of schedule and posted a much smaller loss, as the company benefits from making toys modelled on big Hollywood titles and revitalizing the 60-year-old Barbie brand with variants based on popular celebrities and role models.&nbsp; 
 
Worldwide sales in the action figures, building sets and games segment jumped over 20% in the second quarter, while they rose about 9% in the Barbie unit. 
 
'Toy Story 4' circles around a group of toys, voiced by Hollywood A-listers Tom Hanks and Tim Allen, has made over $860 million worldwide. 
 
Mattel is working to become the "partner of choice" for more entertainment companies, Chief Executive Officer Ynon Kreiz told Reuters.&nbsp; 
 
"Historically, it wasn`t an area we were focused on but going forward we are looking to do more. The success of `Toy Story` is an example of our capabilities," he said.&nbsp; 
 
Mattel`s rival Hasbro Inc earlier this week also beat quarterly profit and sales estimates on demand for action toys based on 'Avengers: Endgame', reflecting the toy industry`s shift away from developing new original properties to chasing big entertainment titles to grab kids` attention.&nbsp; 
 
The company`s second-quarter revenue rose 2.3% to $860.1 million, while analysts` on average had estimated a 3.3% drop. 
Gross sales in North America increased 1% to $447.4 million, also beating analysts` estimates. 
 
The company exceeded its savings target for the year, achieving $754 million in the first six months, compared with its initial target of at least $650 million. 
 
Mattel said it expects to achieve another $100 million in savings by the end of 2019. 
 
The company`s loss narrowed to $108 million, or 31 cents per share, in the three months ended June 30, from $240.9 million or 70 cents per share, a year earlier. 
 
On an adjusted basis, Mattel reported a loss of 25 cents per share. Analysts had expected a loss of 40 cents per share, but it was not immediately clear if the figures were comparable.

Mattel Inc reported a surprise rise in quarterly revenue on Thursday, as the success of the latest 'Toy Story' movie boosted demand for its action figures and a makeover of Barbie lifted sales of the iconic dolls, sending its shares up 5%.

Mattel Inc reported a surprise rise in quarterly revenue on Thursday, as the success of the latest 'Toy Story' movie boosted demand for its action figures and a makeover of Barbie lifted sales of the iconic dolls, sending its shares up 5%. The toymaker also achieved its full-year cost savings target six months ahead of schedule and posted a much smaller loss, as the company benefits from making toys modelled on big Hollywood titles and revitalizing the 60-year-old Barbie brand with variants based on popular celebrities and role models. Worldwide sales in the action figures, building sets and games segment jumped over 20% in the second quarter, while they rose about 9% in the Barbie unit. 'Toy Story 4' circles around a group of toys, voiced by Hollywood A-listers Tom Hanks and Tim Allen, has made over $860 million worldwide. Mattel is working to become the "partner of choice" for more entertainment companies, Chief Executive Officer Ynon Kreiz told Reuters. "Historically, it wasn`t an area we were focused on but going forward we are looking to do more. The success of `Toy Story` is an example of our capabilities," he said. Mattel`s rival Hasbro Inc earlier this week also beat quarterly profit and sales estimates on demand for action toys based on 'Avengers: Endgame', reflecting the toy industry`s shift away from developing new original properties to chasing big entertainment titles to grab kids` attention. The company`s second-quarter revenue rose 2.3% to $860.1 million, while analysts` on average had estimated a 3.3% drop. Gross sales in North America increased 1% to $447.4 million, also beating analysts` estimates. The company exceeded its savings target for the year, achieving $754 million in the first six months, compared with its initial target of at least $650 million. Mattel said it expects to achieve another $100 million in savings by the end of 2019. The company`s loss narrowed to $108 million, or 31 cents per share, in the three months ended June 30, from $240.9 million or 70 cents per share, a year earlier. On an adjusted basis, Mattel reported a loss of 25 cents per share. Analysts had expected a loss of 40 cents per share, but it was not immediately clear if the figures were comparable.

'Toy Story 4' delivers surprise revenue rise for Mattel

Oil prices rose on Friday and were on track for a weekly increase as geopolitical tensions over Iran remained unresolved, although flagging prospects for global economic growth amid the <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/trade-war-like-the-one-going-on-between-us-and-china-foolish-thailand-ambassador-at-wion-world-order-238434&amp;sa=U&amp;ved=2ahUKEwij9_GHsNLjAhUbHo8KHfTpAw0QFjADegQIDxAC&amp;usg=AOvVaw3q6V_pmXlrHO0FOtaqNfXk">US-China trade war</a> capped gains.

Brent crude futures were up 23 cents at $63.62 per barrel at 0922 GMT, equivalent to a weekly rise of around 1.8%. They fell 6% last week.

US West Texas Intermediate crude was 25 cents higher at $56.27 a barrel, a weekly gain of 1.1%. It fell to 7.5% last week.

Tensions remained high around the Strait of Hormuz, the world's most important oil passageway, as Iran refused to release a British-flagged tanker it seized last week in the Gulf.

US Secretary of State Mike Pompeo said Washington had asked Japan, France, Germany, South Korea, Australia, and other nations to join a maritime security initiative in the Middle East so oil and other products can flow through the strait.

However, oil prices' reaction to the strains in the Gulf has been relatively muted. "It appears that the majority of market participants do not expect a military conflict that would hamper oil shipments," Commerzbank analyst Carsten Fritsch said.

Prices also drew support from a crude inventory draw in the United States, but gains were limited as the fall appeared to have been largely anticipated. The US production in the Gulf of Mexico was still feeling the effects of Hurricane Barry.

WATCH:&nbsp;Iran-UK tanker tensions: Iran releases 9 crew members

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"Several indicators pointing to a slowdown of global oil demand growth appear to have taken over market sentiment," Jefferies analyst Jason Gammel said.

Reuters polls taken July 1-24 showed the growth outlook for nearly 90% of the more than 45 economies surveyed was downgraded or left unchanged. That applied not just to this year but also in 2020.

"Growing challenges in the macroeconomic environment have kept bullish bets in check as risk appetites remain soft over potential weakness in global fuel demand," said Benjamin Lu, commodities analyst at Singapore-based Phillip Futures.

The slowdown in global manufacturing and trade, and the associated hit to oil consumption, largely stems from a US-China trade war that has rumbled on over the last year.

Trade talks between the two countries broke down in May after nearing an agreement. Next week, the top US and Chinese negotiators meet for the first time since then. Any positive outcome of the meeting is expected to boost oil prices.

Oil prices rose on Friday and were on track for a weekly increase as geopolitical tensions over Iran remained unresolved, although flagging prospects for global economic growth amid the US-China trade war capped gains.

Oil prices rose on Friday and were on track for a weekly increase as geopolitical tensions over Iran remained unresolved, although flagging prospects for global economic growth amid the US-China trade war capped gains. Brent crude futures were up 23 cents at $63.62 per barrel at 0922 GMT, equivalent to a weekly rise of around 1.8%. They fell 6% last week. US West Texas Intermediate crude was 25 cents higher at $56.27 a barrel, a weekly gain of 1.1%. It fell to 7.5% last week. Tensions remained high around the Strait of Hormuz, the world's most important oil passageway, as Iran refused to release a British-flagged tanker it seized last week in the Gulf. US Secretary of State Mike Pompeo said Washington had asked Japan, France, Germany, South Korea, Australia, and other nations to join a maritime security initiative in the Middle East so oil and other products can flow through the strait. However, oil prices' reaction to the strains in the Gulf has been relatively muted. "It appears that the majority of market participants do not expect a military conflict that would hamper oil shipments," Commerzbank analyst Carsten Fritsch said. Prices also drew support from a crude inventory draw in the United States, but gains were limited as the fall appeared to have been largely anticipated. The US production in the Gulf of Mexico was still feeling the effects of Hurricane Barry. WATCH: Iran-UK tanker tensions: Iran releases 9 crew members × "Several indicators pointing to a slowdown of global oil demand growth appear to have taken over market sentiment," Jefferies analyst Jason Gammel said. Reuters polls taken July 1-24 showed the growth outlook for nearly 90% of the more than 45 economies surveyed was downgraded or left unchanged. That applied not just to this year but also in 2020. "Growing challenges in the macroeconomic environment have kept bullish bets in check as risk appetites remain soft over potential weakness in global fuel demand," said Benjamin Lu, commodities analyst at Singapore-based Phillip Futures. The slowdown in global manufacturing and trade, and the associated hit to oil consumption, largely stems from a US-China trade war that has rumbled on over the last year. Trade talks between the two countries broke down in May after nearing an agreement. Next week, the top US and Chinese negotiators meet for the first time since then. Any positive outcome of the meeting is expected to boost oil prices.

Oil prices rise as Iran tensions remain unresolved

<a href="https://www.wionews.com/business-economy/huaweis-ties-with-partners-fedex-flex-fray-on-us-china-tensions-238632">Huawei Technologies</a> on Friday released its first 5G phone in China and said it would soon launch smart TVs equipped with its Hongmeng operating system.

Huawei, which is grappling with sanctions from Washington that threaten to cut its access to US technology and components, on Friday rolled out the Mate 20 X 5G phone for the China market with a price tag of 6199 yuan ($901).

Huawei also said at the launch event at its Shenzhen headquarters that it would unveil TV-like products called "Smart Screens" next month, which will be the first products based on its proprietary Hongmeng Operating System, according to Xinhua.

Huawei has given little information about Hongmeng, its own back-up operating system under development in case it was cut off from US-made software.

The company previously hinted that the operating system could replace Google's Android, though a senior executive earlier this month said Huawei intends to continue to use Android, and that Hongmeng is not an operating system for smartphones but connected devices.

Huawei's consumer business group CEO Richard Yu said Huawei's Smart Screens aims to be the central interface for entertainment and communication in the living room, according to a press release.

Huawei is set to report its half-year results on Tuesday. Analysts said robust smartphone sales in China are expected to offset impact in the overseas market since Huawei was put on Washington's trade blacklist in mid-May.

Huawei Technologies on Friday released its first 5G phone in China and said it would soon launch smart TVs equipped with its Hongmeng operating system. Huawei, which is grappling with sanctions from Washington that threaten to cut its access to US technology and components, on Friday rolled out the Mate 20 X 5G phone for the China market with a price tag of 6199 yuan ($901).

Huawei Technologies on Friday released its first 5G phone in China and said it would soon launch smart TVs equipped with its Hongmeng operating system. Huawei, which is grappling with sanctions from Washington that threaten to cut its access to US technology and components, on Friday rolled out the Mate 20 X 5G phone for the China market with a price tag of 6199 yuan ($901). Huawei also said at the launch event at its Shenzhen headquarters that it would unveil TV-like products called "Smart Screens" next month, which will be the first products based on its proprietary Hongmeng Operating System, according to Xinhua. Huawei has given little information about Hongmeng, its own back-up operating system under development in case it was cut off from US-made software. The company previously hinted that the operating system could replace Google's Android, though a senior executive earlier this month said Huawei intends to continue to use Android, and that Hongmeng is not an operating system for smartphones but connected devices. Huawei's consumer business group CEO Richard Yu said Huawei's Smart Screens aims to be the central interface for entertainment and communication in the living room, according to a press release. Huawei is set to report its half-year results on Tuesday. Analysts said robust smartphone sales in China are expected to offset impact in the overseas market since Huawei was put on Washington's trade blacklist in mid-May.

Huawei rolls out 5G phone and flags first Hongmeng device

American delivery firm FedEx Corp likely withheld more than 100 packages of Huawei, a report said, while the Chinese tech giant also blamed US-listed Flex for seizing its goods, as <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/trade-war-like-the-one-going-on-between-us-and-china-foolish-thailand-ambassador-at-wion-world-order-238434&amp;sa=U&amp;ved=2ahUKEwiSs4rItdLjAhXc7nMBHeV6DwEQFjADegQIDhAC&amp;usg=AOvVaw1bWJVe7haDQEfv7LLORLbL">Sino-US tensions</a> further strain business ties.

Chinese authorities investigating FedEx suspect it illegally held back the <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/huaweis-us-research-arm-slashes-jobs-as-trade-ban-bites-238136&amp;sa=U&amp;ved=2ahUKEwj___zltdLjAhWxheYKHVCHA3kQFjADegQIDxAC&amp;usg=AOvVaw3sBVXlXmuPglcgQ-qhcuOx">Huawei</a> packages and that it also violated other laws, state news agency Xinhua reported on Friday.

Beijing started a probe into FedEx last month after Huawei said the US&nbsp;delivery firm had diverted parcels intended for it. It came after Huawei was placed by Washington on a blacklist in mid-May that effectively blocks US firms from doing business with the Shenzhen-based telecoms equipment maker.

"The investigation showed that FedEx was suspected of holding up more than 100 Huawei packages entering China," Xinhua said. "Investigators also discovered clues to other violations of the company."

FedEx had no immediate comment on the report. Huawei declined to comment.

The report comes a day after Huawei said electronics contract manufacturer Flex "seized" its goods in China.

The developments mark the latest fallout from Washington's trade ban on Huawei, which has not only rattled the global technology supply chain tied to Huawei's $105 billion business but also is causing much confusion among companies and organisations well beyond the US borders regarding the limits of restrictions.

FedEx has apologised for multiple incidents of diversion of Huawei packages, which is attributed to "operational errors", but it later sued the US&nbsp;government for what it said was an "impossible task" to "police the contents" of export shipments.

Huawei told Reuters on Thursday that Flex had withheld some 700 million yuan ($101.81 million) worth of its goods in its China factory, confirming a report by the Chinese government-backed newspaper Global Times.

Flex kept the Huawei assets in its factory in the southern city of Zhuhai after the US blacklisting and caused losses for Huawei, according to the report.

Huawei told Reuters that it has retrieved some 400 million yuan of goods last month after negotiations and is still trying to take back the rest.

Flex said in an emailed statement to Reuters, "Flex and Huawei have had a long-standing and successful partnership which has recently been impacted by unforeseen challenges resulting from the US-China trade situation. Both parties are actively working to find a mutually agreeable way forward given these facts."

A Flex spokesman declined to say whether it still held any Huawei assets or counts Huawei as a customer, but said China remains "a very important center of production and end-market" where it employs tens of thousands of people.

Flex said on Friday in its quarterly earnings statement that it would accelerate a move to reduce its exposure to certain products in China and India after "recent geopolitical developments and uncertainties", which primarily impacted "one customer in China". It did not name the customer.

"We have seen a reduction in demand for products assembled for that customer," it said.

American delivery firm FedEx Corp likely withheld more than 100 packages of Huawei, a report said, while the Chinese tech giant also blamed US-listed Flex for seizing its goods, as Sino-US tensions further strain business ties.

American delivery firm FedEx Corp likely withheld more than 100 packages of Huawei, a report said, while the Chinese tech giant also blamed US-listed Flex for seizing its goods, as Sino-US tensions further strain business ties. Chinese authorities investigating FedEx suspect it illegally held back the Huawei packages and that it also violated other laws, state news agency Xinhua reported on Friday. Beijing started a probe into FedEx last month after Huawei said the US delivery firm had diverted parcels intended for it. It came after Huawei was placed by Washington on a blacklist in mid-May that effectively blocks US firms from doing business with the Shenzhen-based telecoms equipment maker. "The investigation showed that FedEx was suspected of holding up more than 100 Huawei packages entering China," Xinhua said. "Investigators also discovered clues to other violations of the company." FedEx had no immediate comment on the report. Huawei declined to comment. The report comes a day after Huawei said electronics contract manufacturer Flex "seized" its goods in China. The developments mark the latest fallout from Washington's trade ban on Huawei, which has not only rattled the global technology supply chain tied to Huawei's $105 billion business but also is causing much confusion among companies and organisations well beyond the US borders regarding the limits of restrictions. FedEx has apologised for multiple incidents of diversion of Huawei packages, which is attributed to "operational errors", but it later sued the US government for what it said was an "impossible task" to "police the contents" of export shipments. Huawei told Reuters on Thursday that Flex had withheld some 700 million yuan ($101.81 million) worth of its goods in its China factory, confirming a report by the Chinese government-backed newspaper Global Times. Flex kept the Huawei assets in its factory in the southern city of Zhuhai after the US blacklisting and caused losses for Huawei, according to the report. Huawei told Reuters that it has retrieved some 400 million yuan of goods last month after negotiations and is still trying to take back the rest. Flex said in an emailed statement to Reuters, "Flex and Huawei have had a long-standing and successful partnership which has recently been impacted by unforeseen challenges resulting from the US-China trade situation. Both parties are actively working to find a mutually agreeable way forward given these facts." A Flex spokesman declined to say whether it still held any Huawei assets or counts Huawei as a customer, but said China remains "a very important center of production and end-market" where it employs tens of thousands of people. Flex said on Friday in its quarterly earnings statement that it would accelerate a move to reduce its exposure to certain products in China and India after "recent geopolitical developments and uncertainties", which primarily impacted "one customer in China". It did not name the customer. "We have seen a reduction in demand for products assembled for that customer," it said.

Huawei's ties with partners FedEx, Flex fray on US-China tensions

Indian shares recovered from early losses on Friday and snapped six straight sessions of declines, driven by a rally in financial and auto stocks.

The broader NSE Nifty ended 0.29% higher at 11,284.3, while the benchmark BSE Sensex closed up 0.14% at 37,882.79. Both indexes, however, marked their third straight weekly loss.

Private-sector lender Yes Bank Ltd closed 9.6% higher and was the top percentage gainer on both indexes.&nbsp;

Bajaj Finance Ltd climbed 7.2%, while Bajaj Finserv Ltd advanced 6.7%. 
Bajaj Auto Ltd rose 2.8% after beating expectations for quarterly profit.

Eicher Motors Ltd rose 4.6% and Hero MotoCorp Ltd climbed 3.4%, pushing the Nifty Auto Index 2.2% higher.

Meanwhile, miner Vedanta Ltd fell 4.3% ahead of its quarterly results.

Indian shares recovered from early losses on Friday and snapped six straight sessions of declines, driven by a rally in financial and auto stocks. The broader NSE Nifty ended 0.

Indian shares recovered from early losses on Friday and snapped six straight sessions of declines, driven by a rally in financial and auto stocks. The broader NSE Nifty ended 0.29% higher at 11,284.3, while the benchmark BSE Sensex closed up 0.14% at 37,882.79. Both indexes, however, marked their third straight weekly loss. Private-sector lender Yes Bank Ltd closed 9.6% higher and was the top percentage gainer on both indexes. Bajaj Finance Ltd climbed 7.2%, while Bajaj Finserv Ltd advanced 6.7%. Bajaj Auto Ltd rose 2.8% after beating expectations for quarterly profit. Eicher Motors Ltd rose 4.6% and Hero MotoCorp Ltd climbed 3.4%, pushing the Nifty Auto Index 2.2% higher. Meanwhile, miner Vedanta Ltd fell 4.3% ahead of its quarterly results.

Nifty, Sensex snap losing streak; financials, auto boost

WhatsApp will roll out its payments service in India this year following a year-long pilot, its global chief Will Cathcart has said, as the Facebook-owned messaging giant taps an upsurge in digital payments in its dominant market.

WhatsApp is ubiquitous across India, where data consumption is surging thanks to cheap internet, but a full launch of its payments feature had been delayed amid some false messages circulating on the platform that have led to mob lynching and more government scrutiny, according to local media.

The Menlo Park, California-based firm has also been trying to comply with Indian regulations including data storage norms that require all payments-related data to be stored locally.

"It's a regulatory approval question in India at this point," Facebook Chief Executive Mark Zuckerberg said on Thursday on the company's earnings conference call in reference to WhatsApp Pay.

"We're also working beyond India in a number of other countries and hope to have this rolled out to a large per cent of the people who use WhatsApp within the next year," he added.

WhatsApp now has about 400 million users in India, a person familiar with the matter said on Friday, encompassing almost a third of India's population of 1.3 billion. The person did not wish to be named because they were not authorised to discuss the matter with the media.

WhatsApp's payments feature would compete with a crowded market in India that includes Alphabet Inc's Google Pay, Softbank- and Alibaba-backed Paytm and Walmart's PhonePe, all of which are used, especially in cities, to pay for everything from groceries to Uber rides.

Digital payments, lending and e-wallet services have been growing rapidly in India, led by a government push to bring more of the country's cash-loving merchants and consumers into the formal economy.

"Payments services are critical to ... bringing millions more people into India's fast-growing digital economy," Will Cathcart, WhatsApp's global head, said in New Delhi on Thursday.

Cathcart was speaking at an event held to announce a tie-up with India's top government think tank NITI Aayog to promote women's entrepreneurship.

"We can't wait to provide this service to our users across India this year," Cathcart said.

WhatsApp will use India's Unified Payments Interface (UPI) standard used by many other digital payments services, which is growing rapidly — UPI processed over 750 million transactions last month, rising from about 246 million a year earlier.

WhatsApp will roll out its payments service in India this year following a year-long pilot, its global chief Will Cathcart has said, as the Facebook-owned messaging giant taps an upsurge in digital payments in its dominant market.

WhatsApp will roll out its payments service in India this year following a year-long pilot, its global chief Will Cathcart has said, as the Facebook-owned messaging giant taps an upsurge in digital payments in its dominant market. WhatsApp is ubiquitous across India, where data consumption is surging thanks to cheap internet, but a full launch of its payments feature had been delayed amid some false messages circulating on the platform that have led to mob lynching and more government scrutiny, according to local media. The Menlo Park, California-based firm has also been trying to comply with Indian regulations including data storage norms that require all payments-related data to be stored locally. "It's a regulatory approval question in India at this point," Facebook Chief Executive Mark Zuckerberg said on Thursday on the company's earnings conference call in reference to WhatsApp Pay. "We're also working beyond India in a number of other countries and hope to have this rolled out to a large per cent of the people who use WhatsApp within the next year," he added. WhatsApp now has about 400 million users in India, a person familiar with the matter said on Friday, encompassing almost a third of India's population of 1.3 billion. The person did not wish to be named because they were not authorised to discuss the matter with the media. WhatsApp's payments feature would compete with a crowded market in India that includes Alphabet Inc's Google Pay, Softbank- and Alibaba-backed Paytm and Walmart's PhonePe, all of which are used, especially in cities, to pay for everything from groceries to Uber rides. Digital payments, lending and e-wallet services have been growing rapidly in India, led by a government push to bring more of the country's cash-loving merchants and consumers into the formal economy. "Payments services are critical to ... bringing millions more people into India's fast-growing digital economy," Will Cathcart, WhatsApp's global head, said in New Delhi on Thursday. Cathcart was speaking at an event held to announce a tie-up with India's top government think tank NITI Aayog to promote women's entrepreneurship. "We can't wait to provide this service to our users across India this year," Cathcart said. WhatsApp will use India's Unified Payments Interface (UPI) standard used by many other digital payments services, which is growing rapidly — UPI processed over 750 million transactions last month, rising from about 246 million a year earlier.

WhatsApp to roll out payments feature in India this year

Shares of Tesla Inc sank 11 per cent on Thursday, on course to knock more than $5 billion off the<a href="https://www.wionews.com/world/tesla-drops-cheapest-model-x-s-variants-cuts-prices-to-simplify-lineup-236346"> electric carmaker's market value</a>, a day after it disappointed Wall Street by softening its language on turning a profit this year.

Only two Wall Street brokerage reduced their existing share price target for the firm but a batch of downbeat research notes from analysts focused on concern over shrinking margins for the Elon Musk-led firm, as it strives to find a path to sustainable profitability.

The outlook given with second quarter numbers after markets closed on Wednesday said the firm would still aim to be profitable in the third and fourth quarter but put the emphasis on volume growth, increasing production capacity and generating cash.

That contrasted with Musk's promises this time last year that the company would be profitable and cash flow positive "henceforth".

"For Tesla to be more than niche, one of the core challenges will be for Tesla to improve its gross margin profile," a Credit Suisse analyst wrote in a research note.

Wedbush Securities cut its price target on the stock from $230 to $220, citing the softer margin profile.

The stock was down 11.34 per cent at $234.84 in trading before the opening bell, still 3 per cent&nbsp;above analysts' median price target of $227.5.

Prices of its $1.8 billion junk bond, which debuted just shy of two years ago, also fell more than 2 full points in price in European trading, pushing its yield, which moves in the opposite direction, back above 8 per cent&nbsp;for the first time since July 1.

The spread of its yield over Treasuries, a key measure of the added risk investors assume for holding Tesla's speculative-grade rated debt over safer US&nbsp;government securities, widened by nearly 50 basis points.

In all, it was the bond's biggest loss since early last September when its chief accounting officer quit after just a month on the job and Musk was filmed smoking marijuana and wielding a sword on a webcast.

A number of analysts were also concerned by the resignation as chief technology officer of the pioneer of the company's electric batteries, J.B. Straubel, the last of the company's old guard left in its top echelons outside Musk himself.

"Straubel has been at the forefront of the company's technology leadership, which we believe will increasingly be called into question as competitors catch up," Cowen analysts said.

Shares of Tesla Inc sank 11 per cent on Thursday, on course to knock more than $5 billion off the electric carmaker's market value, a day after it disappointed Wall Street by softening its language on turning a profit this year.

Shares of Tesla Inc sank 11 per cent on Thursday, on course to knock more than $5 billion off the electric carmaker's market value, a day after it disappointed Wall Street by softening its language on turning a profit this year. Only two Wall Street brokerage reduced their existing share price target for the firm but a batch of downbeat research notes from analysts focused on concern over shrinking margins for the Elon Musk-led firm, as it strives to find a path to sustainable profitability. The outlook given with second quarter numbers after markets closed on Wednesday said the firm would still aim to be profitable in the third and fourth quarter but put the emphasis on volume growth, increasing production capacity and generating cash. That contrasted with Musk's promises this time last year that the company would be profitable and cash flow positive "henceforth". "For Tesla to be more than niche, one of the core challenges will be for Tesla to improve its gross margin profile," a Credit Suisse analyst wrote in a research note. Wedbush Securities cut its price target on the stock from $230 to $220, citing the softer margin profile. The stock was down 11.34 per cent at $234.84 in trading before the opening bell, still 3 per cent above analysts' median price target of $227.5. Prices of its $1.8 billion junk bond, which debuted just shy of two years ago, also fell more than 2 full points in price in European trading, pushing its yield, which moves in the opposite direction, back above 8 per cent for the first time since July 1. The spread of its yield over Treasuries, a key measure of the added risk investors assume for holding Tesla's speculative-grade rated debt over safer US government securities, widened by nearly 50 basis points. In all, it was the bond's biggest loss since early last September when its chief accounting officer quit after just a month on the job and Musk was filmed smoking marijuana and wielding a sword on a webcast. A number of analysts were also concerned by the resignation as chief technology officer of the pioneer of the company's electric batteries, J.B. Straubel, the last of the company's old guard left in its top echelons outside Musk himself. "Straubel has been at the forefront of the company's technology leadership, which we believe will increasingly be called into question as competitors catch up," Cowen analysts said.

Tesla shares slide over weak profits call

Domestic stock markets were trading marginally higher on Thursday tracking the muted trend in Asian equities amid a mixed bag of corporate earnings.&nbsp;

At 9.20 am, the benchmark Sensex Index rose 0.26% to 37944.84 points, while Nifty index rose 0.17% to 11293.80 points.

On Wednesday, the BSE S&amp;P Sensex closed 135 points lower at 37,848 while Nifty 50 plunged 60 points at 11,271. At the National Stock Exchange, all sectoral indices were in the negative territory except for FMCG and media. Nifty metal tumbled by 2.37 per cent, auto by 1.95 per cent, pharma by 1.77 per cent and PSU bank by 1.73 per cent.

At 10:00 hrs IST, the Sensex is up 307.39 points or 0.81% at 38,148, and the Nifty up 85.75 points or 0.75% at 11,355.65.&nbsp;

About 505 shares have advanced, 353 shares declined, and 42 shares are unchanged.

(With inputs from agencies)

Domestic stock markets were trading marginally higher on Thursday tracking the muted trend in Asian equities amid a mixed bag of corporate earnings. At 9.20 am, the benchmark Sensex Index rose 0.

Domestic stock markets were trading marginally higher on Thursday tracking the muted trend in Asian equities amid a mixed bag of corporate earnings. At 9.20 am, the benchmark Sensex Index rose 0.26% to 37944.84 points, while Nifty index rose 0.17% to 11293.80 points. On Wednesday, the BSE S&P Sensex closed 135 points lower at 37,848 while Nifty 50 plunged 60 points at 11,271. At the National Stock Exchange, all sectoral indices were in the negative territory except for FMCG and media. Nifty metal tumbled by 2.37 per cent, auto by 1.95 per cent, pharma by 1.77 per cent and PSU bank by 1.73 per cent. At 10:00 hrs IST, the Sensex is up 307.39 points or 0.81% at 38,148, and the Nifty up 85.75 points or 0.75% at 11,355.65. About 505 shares have advanced, 353 shares declined, and 42 shares are unchanged. (With inputs from agencies)

Markets on a positive note: Sensex gains 300 points, Nifty around 11,350

Jaguar Land Rover owner Tata Motors Ltd on Thursday reported a bigger-than-expected quarterly loss that nearly doubled, as a slump in demand for cars continued at home, while plant shutdowns and delays due to Britain's planned exit from the European Union also hurt earnings.

India's biggest automaker by revenue said it lost 36.98 billion rupees ($535.93 million) in the quarter ended June 30, compared to a loss of 19.02 billion rupees a year ago. Revenue fell 7.7% to 608.30 billion rupees.

Analysts on an average expected Tata Motors to report a loss of 19.38 billion rupees in the quarter, according to Refinitiv data.

The results "primarily reflect lower revenue resulting from the weaker market conditions," the company said in a statement.

Revenue from Jaguar Land Rover Automotive PLC, the company's biggest unit, fell 2.8% to 5.07 billion pounds ($6.34 billion).

The Indian auto sector has been plagued by slowing demand due to higher insurance costs and a credit squeeze in recent months, prompting many automakers such as the company's rival, Maruti Suzuki Ltd, to cut production on surging inventories.

Car sales indicate the broader economic consumption pattern, and Tata Motors is the first major automaker to report quarterly numbers, making it a key indicator for the industry's performance.

Passenger vehicle sales in June fell over 17%, data released by the industry's trade body earlier this month showed, resulting in an 18.4% fall for the first quarter as a whole.

Tata completed the $2.3 billion acquisition of Jaguar and Land Rover in 2008, but the iconic British brand has been hit by a trend to move away from diesel cars, as well as political and trade uncertainty related to Brexit.

The company's shares closed down 4.6% in a broader <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/business-economy/nifty-sensex-close-lower-for-fifth-day-after-imf-cuts-growth-forecast-238177&amp;sa=U&amp;ved=2ahUKEwjs0u3xgdDjAhVSjuYKHQi9BtUQFjAAegQIAxAC&amp;usg=AOvVaw0D04CHTottvBnFs47brlNm">NSE market</a> that ended 0.17% lower.

Jaguar Land Rover owner Tata Motors Ltd on Thursday reported a bigger-than-expected quarterly loss that nearly doubled, as a slump in demand for cars continued at home, while plant shutdowns and delays due to Britain's planned exit from the European Union also hurt earnings.

Jaguar Land Rover owner Tata Motors Ltd on Thursday reported a bigger-than-expected quarterly loss that nearly doubled, as a slump in demand for cars continued at home, while plant shutdowns and delays due to Britain's planned exit from the European Union also hurt earnings. India's biggest automaker by revenue said it lost 36.98 billion rupees ($535.93 million) in the quarter ended June 30, compared to a loss of 19.02 billion rupees a year ago. Revenue fell 7.7% to 608.30 billion rupees. Analysts on an average expected Tata Motors to report a loss of 19.38 billion rupees in the quarter, according to Refinitiv data. The results "primarily reflect lower revenue resulting from the weaker market conditions," the company said in a statement. Revenue from Jaguar Land Rover Automotive PLC, the company's biggest unit, fell 2.8% to 5.07 billion pounds ($6.34 billion). The Indian auto sector has been plagued by slowing demand due to higher insurance costs and a credit squeeze in recent months, prompting many automakers such as the company's rival, Maruti Suzuki Ltd, to cut production on surging inventories. Car sales indicate the broader economic consumption pattern, and Tata Motors is the first major automaker to report quarterly numbers, making it a key indicator for the industry's performance. Passenger vehicle sales in June fell over 17%, data released by the industry's trade body earlier this month showed, resulting in an 18.4% fall for the first quarter as a whole. Tata completed the $2.3 billion acquisition of Jaguar and Land Rover in 2008, but the iconic British brand has been hit by a trend to move away from diesel cars, as well as political and trade uncertainty related to Brexit. The company's shares closed down 4.6% in a broader NSE market that ended 0.17% lower.

Tata Motors first-quarter loss nearly doubles, Jaguar Land Rover challenges continue

Equities traded with a negative bias on Thursday and closed lower for sixth consecutive trading session ahead of the July futures and options (F&amp;O) expiry.

The BSE S&amp;P Sensex closed 17 points lower at 37,831 while the Nifty 50 was down 19 points at 11,252.At the National Stock Exchange, sectoral indices were mixed.&nbsp;

While Nifty pharma gained over 2 per cent and media by over 1 per cent, auto, FMCG, metal and PSU bank were in the red with thin margins.Among stocks, Tata Motors skidded 4.79 per cent lower.&nbsp;

Bajaj Finance was down by 4.3 per cent and Bajaj Finserv by 4.2 per cent.&nbsp;

Coal India closed 3.3 per cent lower, JSW Steel by 2.5 per cent and Bharat Petroleum by 2.3 per cent.

Besides, heavyweight Reliance Industries plunged 1.91 per cent to Rs 1,235 per share. UPL, Yes Bank and NTPC too closed in the negative zone.

However, mining major Vedanta gained over 4.4 per cent and pharma firm Cipla by 3.5 per cent.&nbsp;

The other gainers were Zee Entertainment, Sun Pharma and IndusInd Bank which moved up between 2.4 and 3.2 per cent.

Meanwhile, Asian shares shrugged off a tech-fueled rally on Wall Street a day earlier and saw muted trading on Thursday amid a mixed picture for corporate earnings.

Benchmark indexes nudged higher in Japan, Hong Kong and China but declined in South Korea.

Investors have generally been encouraged in recent days by hopes of some headway in trade negotiations between the United States and China.

There are also expectations that the European Central Bank and the US Federal Reserve will ease monetary policy soon.

Equities traded with a negative bias on Thursday and closed lower for sixth consecutive trading session ahead of the July futures and options (F&O) expiry. The BSE S&P Sensex closed 17 points lower at 37,831 while the Nifty 50 was down 19 points at 11,252.

Equities traded with a negative bias on Thursday and closed lower for sixth consecutive trading session ahead of the July futures and options (F&O) expiry. The BSE S&P Sensex closed 17 points lower at 37,831 while the Nifty 50 was down 19 points at 11,252.At the National Stock Exchange, sectoral indices were mixed. While Nifty pharma gained over 2 per cent and media by over 1 per cent, auto, FMCG, metal and PSU bank were in the red with thin margins.Among stocks, Tata Motors skidded 4.79 per cent lower. Bajaj Finance was down by 4.3 per cent and Bajaj Finserv by 4.2 per cent. Coal India closed 3.3 per cent lower, JSW Steel by 2.5 per cent and Bharat Petroleum by 2.3 per cent. Besides, heavyweight Reliance Industries plunged 1.91 per cent to Rs 1,235 per share. UPL, Yes Bank and NTPC too closed in the negative zone. However, mining major Vedanta gained over 4.4 per cent and pharma firm Cipla by 3.5 per cent. The other gainers were Zee Entertainment, Sun Pharma and IndusInd Bank which moved up between 2.4 and 3.2 per cent. Meanwhile, Asian shares shrugged off a tech-fueled rally on Wall Street a day earlier and saw muted trading on Thursday amid a mixed picture for corporate earnings. Benchmark indexes nudged higher in Japan, Hong Kong and China but declined in South Korea. Investors have generally been encouraged in recent days by hopes of some headway in trade negotiations between the United States and China. There are also expectations that the European Central Bank and the US Federal Reserve will ease monetary policy soon.

Equity indices end flat after volatile trading, Tata Motors skids 4.8%

Fortune magazine revealed its annual ranking about the top 500 companies in the world with a list of interesting new entrants in it.&nbsp;

For the first time in world history, US companies are outnumbered by <a href="https://www.wionews.com/opinions/belt-and-road-projects-china-expands-its-anti-corruption-campaign-238093">business houses from China</a>. If there was ever a doubt China's economic might, then the Fortune 500 rankings dispel the doubt.&nbsp;

Also read: <a href="https://www.wionews.com/world/china-eyes-high-tech-army-says-us-undermines-global-stability-238077">China eyes high-tech army, says US undermines global stability</a>

As the world balance of power shifts, Chinese companies took 129 spots in the yearly list, including 10 Taiwanese companies, while the US came second with 121 American businesses included.

Watch: Fortune 500 rankings — It's China's world after all 
&nbsp;

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/1pApQ2acj0U" width="560"></iframe>

<a href="https://www.wionews.com/world/walmart-fights-back-against-amazon-offers-one-day-delivery-without-shipping-fee-218603">US giant Walmart</a> continues to top the Fortune 500 list followed by Chinese state-owned oil and gas company Sinopec Group, which moved one rank up. Dutch company Royal Dutch Shell was ranked third followed by China National Petroleum and State Grid.

Saudi oil giant Saudi Aramco appeared for the first time in top 10 at sixth position, while BP, Exxon Mobil, Volkswagen, and Toyota Motor are ranked 7th, 8th, 9th and 10th position respectively.

The Fortune Global 500, also known as Global 500, is an annual ranking of the top 500 corporations worldwide as measured by revenue and the list is compiled and published annually by Fortune magazine.

Fortune magazine revealed its annual ranking about the top 500 companies in the world with a list of interesting new entrants in it. For the first time in world history, US companies are outnumbered by business houses from China.

Fortune magazine revealed its annual ranking about the top 500 companies in the world with a list of interesting new entrants in it. For the first time in world history, US companies are outnumbered by business houses from China. If there was ever a doubt China's economic might, then the Fortune 500 rankings dispel the doubt. Also read: China eyes high-tech army, says US undermines global stability As the world balance of power shifts, Chinese companies took 129 spots in the yearly list, including 10 Taiwanese companies, while the US came second with 121 American businesses included. Watch: Fortune 500 rankings — It's China's world after all US giant Walmart continues to top the Fortune 500 list followed by Chinese state-owned oil and gas company Sinopec Group, which moved one rank up. Dutch company Royal Dutch Shell was ranked third followed by China National Petroleum and State Grid. Saudi oil giant Saudi Aramco appeared for the first time in top 10 at sixth position, while BP, Exxon Mobil, Volkswagen, and Toyota Motor are ranked 7th, 8th, 9th and 10th position respectively. The Fortune Global 500, also known as Global 500, is an annual ranking of the top 500 corporations worldwide as measured by revenue and the list is compiled and published annually by Fortune magazine.

Fortune global 500: China deflates the US dominance in annual rankings

Equities traded lower during early hours on Wednesday amid weak global cues with auto and realty indices showing the most losses.

The International Monetary Fund (IMF) cut its growth forecasts for the global economy for this year and the next.&nbsp;

Global growth is forecast at 3.2 per cent in 2019, picking up to 3.5 per cent in 2020 -- 0.1 per cent point lower than in April projections for both years.

At 10:15 am, the BSE S&amp;P Sensex was down 197 points at 37,786 while the Nifty 50 slipped 71 points to 11,260.

Except for financial services, all sectoral indices at the National Stock Exchange were in the red.&nbsp;

Nifty metal was down 1.21 per cent, auto 1.17 per cent and realty 1.16 per cent.

Among stocks, Bharat Petroleum Corporation edged 3.2 per cent lower while Vedanta was down 2 per cent. Eicher Motors, JSW Steel and Britannia were down by over 1.6 per cent each.

However, HDFC gained 1.6 per cent while Yes Bank moved up by 1.5 per cent. The other gainers were Larsen &amp; Toubro and Hindustan Lever.

Meanwhile, most stocks rose in Asia after reports that the United States and China will resume trade talks next week with US Trade Representative Robert Lighthizer travelling to Shanghai.

Japan`s Nikkei added 0.5 per cent, MSCI`s broadest index of Asia-Pacific shares outside Japan gained 0.4 per cent and Chinese blue chips climbed 1.2 per cent.&nbsp; 
&nbsp;

Equities traded lower during early hours on Wednesday amid weak global cues with auto and realty indices showing the most losses. The International Monetary Fund (IMF) cut its growth forecasts for the global economy for this year and the next.

Equities traded lower during early hours on Wednesday amid weak global cues with auto and realty indices showing the most losses. The International Monetary Fund (IMF) cut its growth forecasts for the global economy for this year and the next. Global growth is forecast at 3.2 per cent in 2019, picking up to 3.5 per cent in 2020 -- 0.1 per cent point lower than in April projections for both years. At 10:15 am, the BSE S&P Sensex was down 197 points at 37,786 while the Nifty 50 slipped 71 points to 11,260. Except for financial services, all sectoral indices at the National Stock Exchange were in the red. Nifty metal was down 1.21 per cent, auto 1.17 per cent and realty 1.16 per cent. Among stocks, Bharat Petroleum Corporation edged 3.2 per cent lower while Vedanta was down 2 per cent. Eicher Motors, JSW Steel and Britannia were down by over 1.6 per cent each. However, HDFC gained 1.6 per cent while Yes Bank moved up by 1.5 per cent. The other gainers were Larsen & Toubro and Hindustan Lever. Meanwhile, most stocks rose in Asia after reports that the United States and China will resume trade talks next week with US Trade Representative Robert Lighthizer travelling to Shanghai. Japan`s Nikkei added 0.5 per cent, MSCI`s broadest index of Asia-Pacific shares outside Japan gained 0.4 per cent and Chinese blue chips climbed 1.2 per cent.

Nifty slips below 11,300 mark, auto and realty stocks drag

Equities traded lower during early hours on Wednesday amid weak global cues with auto and realty indices showing the most losses.

The International Monetary Fund (IMF) cut its growth forecasts for the global economy for this year and the next. Global growth is forecast at 3.2 per cent in 2019, picking up to 3.5 per cent in 2020 — 0.1 per cent point lower than in April projections for both years.

At 10:15 am, the BSE S&amp;P Sensex was down 197 points at 37,786 while the Nifty 50 slipped 71 points to 11,260.

Except for financial services, all sectoral indices at the National Stock Exchange were in the red.&nbsp;

The Nifty metal was down 1.21 per cent, auto 1.17 per cent and realty 1.16 per cent.

Among stocks, Bharat Petroleum Corporation edged 3.2 per cent lower while Vedanta was down 2 per cent. Eicher Motors, JSW Steel and Britannia were down by over 1.6 per cent each.

However, HDFC gained 1.6 per cent while Yes Bank moved up by 1.5 per cent. The other gainers were Larsen &amp; Toubro, Hindustan Lever and Zee Entertainment.

Meanwhile, most stocks rose in Asia after reports that the United States and China will resume trade talks next week with US Trade Representative Robert Lighthizer travelling to Shanghai.

Japan's Nikkei added 0.5 per cent, MSCI`s broadest index of Asia-Pacific shares outside Japan gained 0.4 per cent and Chinese blue chips climbed 1.2 per cent.

Equities traded lower during early hours on Wednesday amid weak global cues with auto and realty indices showing the most losses. The International Monetary Fund (IMF) cut its growth forecasts for the global economy for this year and the next. Global growth is forecast at 3.2 per cent in 2019, picking up to 3.5 per cent in 2020 — 0.1 per cent point lower than in April projections for both years. At 10:15 am, the BSE S&P Sensex was down 197 points at 37,786 while the Nifty 50 slipped 71 points to 11,260. Except for financial services, all sectoral indices at the National Stock Exchange were in the red. The Nifty metal was down 1.21 per cent, auto 1.17 per cent and realty 1.16 per cent. Among stocks, Bharat Petroleum Corporation edged 3.2 per cent lower while Vedanta was down 2 per cent. Eicher Motors, JSW Steel and Britannia were down by over 1.6 per cent each. However, HDFC gained 1.6 per cent while Yes Bank moved up by 1.5 per cent. The other gainers were Larsen & Toubro, Hindustan Lever and Zee Entertainment. Meanwhile, most stocks rose in Asia after reports that the United States and China will resume trade talks next week with US Trade Representative Robert Lighthizer travelling to Shanghai. Japan's Nikkei added 0.5 per cent, MSCI`s broadest index of Asia-Pacific shares outside Japan gained 0.4 per cent and Chinese blue chips climbed 1.2 per cent.

Several home buyers heaved a sigh of relief after the Supreme Court on Tuesday directed the cancellation of registration of Amrapali Group and ordered the National Buildings Construction Corporation (NBCC) to complete the unfinished housing projects of embattled real estate group.

Azam, one of the buyers told ANI: "We are very satisfied with the Court`s order. The government should now control the builders strictly so that we get our apartment as soon as possible."

"I booked a flat in 2010, which I should have gotten in 2012. Till date I have not received any flat," he said.

Annu Khan, director of buyers association said: "This is a historic decision. This also serves as an example for the builders who think of carrying out frauds."

"The SC instructed banks to not pressurise the buyers for instalments. This came as a relief for us. They also directed the NBCC to build the houses on 8 per cent interest," he said while stating orders that bought reassurances to the buyers.

Another buyer said: "On one side the banks kept on calling us for instalments while on the other side no construction had even started for the flat I bought in Amrapali Dream Valley"

"After today`s verdict we now hope we will soon get our houses," he added.

The SC had ordered NBCC to complete the unfinished housing projects of embattled real estate group in Noida and Greater Noida and handover these to the home-buyers after the registration of Amrapali Group was cancelled.

A bench of the top court headed by Justice Arun Mishra further directed the Enforcement Directorate (ED) to conduct a detailed investigation against the group for diverting homebuyers` money. 
&nbsp;

Several home buyers heaved a sigh of relief after the Supreme Court on Tuesday directed the cancellation of registration of Amrapali Group and ordered the National Buildings Construction Corporation (NBCC) to complete the unfinished housing projects of embattled real estate group.

Azam, one of the buyers told ANI: "We are very satisfied with the Court`s order. The government should now control the builders strictly so that we get our apartment as soon as possible."

"I booked a flat in 2010, which I should have gotten in 2012. Till date I have not received any flat," he said.

Annu Khan, director of buyers association said: "This is a historic decision. This also serves as an example for the builders who think of carrying out frauds."

"The SC instructed banks to not pressurise the buyers for instalments. This came as a relief for us. They also directed the NBCC to build the houses on 8 per cent interest," he said while stating orders that bought reassurances to the buyers.

Another buyer said: "On one side the banks kept on calling us for instalments while on the other side no construction had even started for the flat I bought in Amrapali Dream Valley"

"After today`s verdict we now hope we will soon get our houses," he added.

The SC had ordered NBCC to complete the unfinished housing projects of embattled real estate group in Noida and Greater Noida and handover these to the home-buyers after the registration of Amrapali Group was cancelled.

A bench of the top court headed by Justice Arun Mishra further directed the Enforcement Directorate (ED) to conduct a detailed investigation against the group for diverting homebuyers` money. 
&nbsp;

Several home buyers heaved a sigh of relief after the Supreme Court on Tuesday directed the cancellation of registration of Amrapali Group and ordered the National Buildings Construction Corporation (NBCC) to complete the unfinished housing projects of embattled real estate group.

Several home buyers heaved a sigh of relief after the Supreme Court on Tuesday directed the cancellation of registration of Amrapali Group and ordered the National Buildings Construction Corporation (NBCC) to complete the unfinished housing projects of embattled real estate group. Azam, one of the buyers told ANI: "We are very satisfied with the Court`s order. The government should now control the builders strictly so that we get our apartment as soon as possible." "I booked a flat in 2010, which I should have gotten in 2012. Till date I have not received any flat," he said. Annu Khan, director of buyers association said: "This is a historic decision. This also serves as an example for the builders who think of carrying out frauds." "The SC instructed banks to not pressurise the buyers for instalments. This came as a relief for us. They also directed the NBCC to build the houses on 8 per cent interest," he said while stating orders that bought reassurances to the buyers. Another buyer said: "On one side the banks kept on calling us for instalments while on the other side no construction had even started for the flat I bought in Amrapali Dream Valley" "After today`s verdict we now hope we will soon get our houses," he added. The SC had ordered NBCC to complete the unfinished housing projects of embattled real estate group in Noida and Greater Noida and handover these to the home-buyers after the registration of Amrapali Group was cancelled. A bench of the top court headed by Justice Arun Mishra further directed the Enforcement Directorate (ED) to conduct a detailed investigation against the group for diverting homebuyers` money. Several home buyers heaved a sigh of relief after the Supreme Court on Tuesday directed the cancellation of registration of Amrapali Group and ordered the National Buildings Construction Corporation (NBCC) to complete the unfinished housing projects of embattled real estate group. Azam, one of the buyers told ANI: "We are very satisfied with the Court`s order. The government should now control the builders strictly so that we get our apartment as soon as possible." "I booked a flat in 2010, which I should have gotten in 2012. Till date I have not received any flat," he said. Annu Khan, director of buyers association said: "This is a historic decision. This also serves as an example for the builders who think of carrying out frauds." "The SC instructed banks to not pressurise the buyers for instalments. This came as a relief for us. They also directed the NBCC to build the houses on 8 per cent interest," he said while stating orders that bought reassurances to the buyers. Another buyer said: "On one side the banks kept on calling us for instalments while on the other side no construction had even started for the flat I bought in Amrapali Dream Valley" "After today`s verdict we now hope we will soon get our houses," he added. The SC had ordered NBCC to complete the unfinished housing projects of embattled real estate group in Noida and Greater Noida and handover these to the home-buyers after the registration of Amrapali Group was cancelled. A bench of the top court headed by Justice Arun Mishra further directed the Enforcement Directorate (ED) to conduct a detailed investigation against the group for diverting homebuyers` money.

Home buyers happy after cancellation of Amrapali Group's RERA registration

The British pound rose Wednesday before arch-Brexiteer <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/stepping-into-power-britains-johnson-seeks-more-diverse-cabinet-238044&amp;sa=U&amp;ved=2ahUKEwjy6pLQ0s3jAhUfTI8KHf_NDzkQFjACegQIEBAC&amp;usg=AOvVaw1aKsCfuUnZh-SA_i3kYGPM">Boris Johnson</a> took over as prime minister, while European stocks mostly fell on the weak mining sector.

Sterling gained versus the euro and dollar as traders readied for Johnson - a leading Leave campaigner in Britain's shock Brexit referendum three years ago -&nbsp;to take the reins from outgoing premier Theresa May.

He will be appointed later Wednesday by Queen Elizabeth II at Buckingham Palace.

Sterling had already rallied Tuesday in reaction to Johnson's election as Conservative Party leader, with investors keen to see whether he pushes ahead with a no-deal divorce from the European Union at the end of October.

Brexit scepticism 'priced in' 
"The pound is beginning to stabilise, proving that a lot of the scepticism about Boris Johnson's Brexit policy was already built into the price," said City Index analyst Fiona Cincotta.

"Sterling is trading a touch higher this morning," she noted.

May resigned after failing to get parliamentary support for a Brexit deal she had struck with EU leaders.

Meanwhile, Europe's major stock markets mostly fell, with miners weighed down by sliding iron ore prices, dealers said.

Heading towards midday, London's FTSE 100 was sharply down by 0.9 percent.

In the eurozone, Paris CAC 40 fell 0.5 percent but Frankfurt's DAX 30 won 0.3 percent in value.

"The FTSE 100 is firmly in the red as mining stocks are weighing on the index," said CMC Markets analyst David Madden.

"A sell-off in iron ore prices in China has prompted a decline in major mining stocks like Rio Tinto, BHP Billiton, and Glencore.

"Brazil's Vale won approval to restart iron ore production, and that triggered the drop in iron ore prices."

Bright US earnings&nbsp; 
Most Asian markets enjoyed another day of gains, with support coming from more healthy earnings results and renewed hopes for a resolution of the China-US trade war.

The latest big-name firms to post positive results were Coca-Cola, toymaker Hasbro, and Harley-Davidson, helping all three main indexes on Wall Street end with sharp gains overnight.

Adding to the upbeat mood were reports that US President <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/they-call-him-britains-trump-says-us-president-on-boris-johnson-238131&amp;sa=U&amp;ved=2ahUKEwiCp6Hp2s3jAhUHl48KHdVmDmIQFjAFegQIBRAC&amp;usg=AOvVaw2zLPu250tzoQ1f2Gfdrz-b">Donald Trump</a>'s Trade Representative Robert Lighthizer will lead a delegation to China next week to resume trade talks.

The meeting would be the first head-to-head talks since negotiations were cut short in May by Trump's surprise decision to hit China with more tariffs for what he called Beijing's backsliding.

The British pound rose Wednesday before arch-Brexiteer Boris Johnson took over as prime minister, while European stocks mostly fell on the weak mining sector. Sterling gained versus the euro and dollar as traders readied for Johnson - a leading Leave campaigner in Britain's shock Brexit referendum three years ago - to take the reins from outgoing premier Theresa May.

The British pound rose Wednesday before arch-Brexiteer Boris Johnson took over as prime minister, while European stocks mostly fell on the weak mining sector. Sterling gained versus the euro and dollar as traders readied for Johnson - a leading Leave campaigner in Britain's shock Brexit referendum three years ago - to take the reins from outgoing premier Theresa May. He will be appointed later Wednesday by Queen Elizabeth II at Buckingham Palace. Sterling had already rallied Tuesday in reaction to Johnson's election as Conservative Party leader, with investors keen to see whether he pushes ahead with a no-deal divorce from the European Union at the end of October. Brexit scepticism 'priced in' "The pound is beginning to stabilise, proving that a lot of the scepticism about Boris Johnson's Brexit policy was already built into the price," said City Index analyst Fiona Cincotta. "Sterling is trading a touch higher this morning," she noted. May resigned after failing to get parliamentary support for a Brexit deal she had struck with EU leaders. Meanwhile, Europe's major stock markets mostly fell, with miners weighed down by sliding iron ore prices, dealers said. Heading towards midday, London's FTSE 100 was sharply down by 0.9 percent. In the eurozone, Paris CAC 40 fell 0.5 percent but Frankfurt's DAX 30 won 0.3 percent in value. "The FTSE 100 is firmly in the red as mining stocks are weighing on the index," said CMC Markets analyst David Madden. "A sell-off in iron ore prices in China has prompted a decline in major mining stocks like Rio Tinto, BHP Billiton, and Glencore. "Brazil's Vale won approval to restart iron ore production, and that triggered the drop in iron ore prices." Bright US earnings Most Asian markets enjoyed another day of gains, with support coming from more healthy earnings results and renewed hopes for a resolution of the China-US trade war. The latest big-name firms to post positive results were Coca-Cola, toymaker Hasbro, and Harley-Davidson, helping all three main indexes on Wall Street end with sharp gains overnight. Adding to the upbeat mood were reports that US President Donald Trump's Trade Representative Robert Lighthizer will lead a delegation to China next week to resume trade talks. The meeting would be the first head-to-head talks since negotiations were cut short in May by Trump's surprise decision to hit China with more tariffs for what he called Beijing's backsliding.

Sterling rises before Johnson takes office; European markets sag

Rising by five positions since last year, India was placed at 52 rank&nbsp;in Global Innovation Index (GII) 2019 on Wednesday.

The country&nbsp;was positioned at 57th rank in&nbsp;GII 2018.

The rankings,&nbsp;published annually, were&nbsp;released by the Commerce and Industry Minister Piyush Goyal.

Switzerland was placed at the top of the GII list while&nbsp;Sweden, the US, the Netherlands, the UK, Finland, Denmark, Singapore, Germany and Israel were listed in the top ten slots of&nbsp;the Global Innovation Index.

The ranking in GII is determined by 80 indicators which include intellectual property filing rates to mobile-application creation, education spending and scientific and technical publications.

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Rising by five positions since last year, India was placed at 52 rank in Global Innovation Index (GII) 2019 on Wednesday. The country was positioned at 57th rank in GII 2018.

Rising by five positions since last year, India was placed at 52 rank in Global Innovation Index (GII) 2019 on Wednesday. The country was positioned at 57th rank in GII 2018. The rankings, published annually, were released by the Commerce and Industry Minister Piyush Goyal. Switzerland was placed at the top of the GII list while Sweden, the US, the Netherlands, the UK, Finland, Denmark, Singapore, Germany and Israel were listed in the top ten slots of the Global Innovation Index. The ranking in GII is determined by 80 indicators which include intellectual property filing rates to mobile-application creation, education spending and scientific and technical publications.

India improves its ranking in Global Innovation Index, placed at 52 position

Boeing reported a second-quarter loss of $2.9 billion Wednesday as the grounding of 737 MAX following two deadly crashes continues to weigh on the company.

The loss, the biggest ever in a single quarter for the aerospace giant, follows last week's announcement that Boeing would set aside $4.9 billion after taxes to compensate airlines for cancelled flights and the delay in plane deliveries.&nbsp;

Revenues tumbled 35.1 per cent to $15.8 billion, reflecting the hit from a halt to deliveries of the 737 MAX, a top-selling plane.

Boeing also pushed back the timeframe for first flights of the 777X, a new long-haul plane under development. It pointed to problems with the 777X engine, which is being built by General Electric.&nbsp;

The 737 MAX has been grounded since mid-March following the second of two crashes that together claimed 346 lives.

Boeing is developing a software fix to address a problem with a flight handling system that was linked to both crashes.

"Disciplined development and testing is underway and we will submit the final software package to the FAA once we have satisfied all of their certification requirements," Boeing said.

Boeing has said it is targeting early in the fourth quarter to win approval from regulators.

The company, which has pulled its full-year profit forecast due to uncertainty about the MAX, boosted dividend payments in the second quarter. Compared with last year, Boeing spent $1.2 billion in dividends, up 20 per cent from the year-ago period.

Shares fell 0.8 per cent to $369.84 in pre-market trading.

Boeing reported a second-quarter loss of $2.9 billion Wednesday as the grounding of 737 MAX following two deadly crashes continues to weigh on the company. The loss, the biggest ever in a single quarter for the aerospace giant, follows last week's announcement that Boeing would set aside $4.

Boeing reported a second-quarter loss of $2.9 billion Wednesday as the grounding of 737 MAX following two deadly crashes continues to weigh on the company. The loss, the biggest ever in a single quarter for the aerospace giant, follows last week's announcement that Boeing would set aside $4.9 billion after taxes to compensate airlines for cancelled flights and the delay in plane deliveries. Revenues tumbled 35.1 per cent to $15.8 billion, reflecting the hit from a halt to deliveries of the 737 MAX, a top-selling plane. Boeing also pushed back the timeframe for first flights of the 777X, a new long-haul plane under development. It pointed to problems with the 777X engine, which is being built by General Electric. The 737 MAX has been grounded since mid-March following the second of two crashes that together claimed 346 lives. Boeing is developing a software fix to address a problem with a flight handling system that was linked to both crashes. "Disciplined development and testing is underway and we will submit the final software package to the FAA once we have satisfied all of their certification requirements," Boeing said. Boeing has said it is targeting early in the fourth quarter to win approval from regulators. The company, which has pulled its full-year profit forecast due to uncertainty about the MAX, boosted dividend payments in the second quarter. Compared with last year, Boeing spent $1.2 billion in dividends, up 20 per cent from the year-ago period. Shares fell 0.8 per cent to $369.84 in pre-market trading.

Boeing reports $2.9 billion loss in 2Q, biggest quarterly loss ever

Indian shares marked their worst losing streak since mid-May on Wednesday after the International Monetary Fund (IMF) cut its annual growth forecast for the country, with losses seen across the board.

The broader NSE Nifty ended 0.53% lower at 11,271.3, while the benchmark BSE Sensex closed down 0.36% at 37,847.65. This was the indexes` fifth straight session of losses.

Port infrastructure company Adani Ports and Special Economic Zone Ltd declined 4.7% and was the top percentage loser on the NSE Nifty, while shadow bank Indiabulls Housing Finance Ltd fell 4.5% to its lowest close in nearly four weeks.

Meanwhile, shares of Interglobe Aviation Ltd, the owner of India`s top airline IndiGo, recovered from early losses to close 4.7% higher after TV channels reported that promoters of the airline had called a truce.

Zee Entertainment Enterprises Ltd led the 10 components of the Nifty 50 index that ended in the green, closing up 5.2% after reporting a jump in quarterly profit.

Indian shares marked their worst losing streak since mid-May on Wednesday after the International Monetary Fund (IMF) cut its annual growth forecast for the country, with losses seen across the board.

Indian shares marked their worst losing streak since mid-May on Wednesday after the International Monetary Fund (IMF) cut its annual growth forecast for the country, with losses seen across the board. The broader NSE Nifty ended 0.53% lower at 11,271.3, while the benchmark BSE Sensex closed down 0.36% at 37,847.65. This was the indexes` fifth straight session of losses. Port infrastructure company Adani Ports and Special Economic Zone Ltd declined 4.7% and was the top percentage loser on the NSE Nifty, while shadow bank Indiabulls Housing Finance Ltd fell 4.5% to its lowest close in nearly four weeks. Meanwhile, shares of Interglobe Aviation Ltd, the owner of India`s top airline IndiGo, recovered from early losses to close 4.7% higher after TV channels reported that promoters of the airline had called a truce. Zee Entertainment Enterprises Ltd led the 10 components of the Nifty 50 index that ended in the green, closing up 5.2% after reporting a jump in quarterly profit.

Nifty, Sensex close lower for fifth day after IMF cuts growth forecast

The United States has sanctioned Chinese state-run energy company Zhuhai Zhenrong Co Ltd for allegedly violating restrictions imposed on Iran's oil sector, <a href="https://www.wionews.com/india-news/us-pleased-to-see-un-designating-jem-chief-masood-azhar-a-global-terrorist-mike-pompeo-230658">US&nbsp;Secretary of State Mike Pompeo</a> said in a speech on Monday.

"We've said that we will sanction any sanctionable behaviour, and we mean it," Pompeo said in a speech in Florida in which he announced the move.

It comes amid increased tensions between Iran and the West as well as between the United States and China, which have been engaged in a major trade war.

US&nbsp;President Donald Trump's administration has stepped up its sanctions against Iran after breaking from a nuclear pact brokered between Tehran and other Western nations under the previous administration of President Barack Obama.

In a later statement, Pompeo said Zhuhai Zhenrong "knowingly engaged in a significant transaction for the purchase or acquisition of crude oil from Iran" after the expiration of a US sanctions waiver covering China on May 2.

He said the sanctions blocked all property and interests in property of Zhuhai Zhenrong in the United States and barred its chief executive, Youmin Li, from entry into the country.

"Any entity considering evading our sanctions should take notice of this action today," Pompeo said. "It underscores our commitment to enforcement and to holding the Iranian regime accountable."

China's embassy in Washington rejected the US stance.

"China firmly opposes the US imposition of unilateral sanctions and so-called 'long-arm jurisdiction' on China and other countries invoking its domestic law," a spokesperson said by email.

"We urge the US to immediately correct its wrongdoing and earnestly respect other parties' legal rights and interests."Zhuhai Zhenrong, which specializes mainly in buying Iranian oil and is based in Beijing, was previously sanctioned in 2012 by the Obama administration over its dealings with Iran.

The company became a subsidiary of Macau-based, state-controlled conglomerate Nam Kwong Group in a merger mandated by Beijing in late 2015.

In a brief statement on its website on Tuesday, Nam Kwong said Zhuhai Zhenrong had been "officially spun off" since Sept. 30, 2018. Nam Kwong had "no equity ties, or any business or legal relations" with the oil trader, it said.

A Nam Kwong spokesman declined to comment further.

Analysts at ClearView Energy Partners said Zhuhai Zhenrong is largely disconnected from the Chinese financial system, which would limit the "contagion" of the sanctions to other entities and banking systems. But they said Washington's move was another shot across the bow to demonstrate the Trump administration's stance on Iran.

"We see the shot as being aimed just at China, but also at other potential buyers," such as Turkey and possibly Russia, which could serve as a middleman for brokering oil from Iran to other countries, ClearView said.

The United States reimposed sanctions on Iran in November after pulling out of the 2015 nuclear accord between Tehran and six world powers.

Last month, the US special representative for Iran, Brian Hook, said Washington would sanction any country that continued to import Iranian oil and warned that it would look at reports of Iranian crude going to China.

According to data from government and trade sources, Asia's crude oil imports from Iran fell in May to the lowest in at least five years after China and India wound down purchases amid US sanctions, while Japan and South Korea halted imports.

The United States has sanctioned Chinese state-run energy company Zhuhai Zhenrong Co Ltd for allegedly violating restrictions imposed on Iran's oil sector, US Secretary of State Mike Pompeo said in a speech on Monday.

The United States has sanctioned Chinese state-run energy company Zhuhai Zhenrong Co Ltd for allegedly violating restrictions imposed on Iran's oil sector, US Secretary of State Mike Pompeo said in a speech on Monday. "We've said that we will sanction any sanctionable behaviour, and we mean it," Pompeo said in a speech in Florida in which he announced the move. It comes amid increased tensions between Iran and the West as well as between the United States and China, which have been engaged in a major trade war. US President Donald Trump's administration has stepped up its sanctions against Iran after breaking from a nuclear pact brokered between Tehran and other Western nations under the previous administration of President Barack Obama. In a later statement, Pompeo said Zhuhai Zhenrong "knowingly engaged in a significant transaction for the purchase or acquisition of crude oil from Iran" after the expiration of a US sanctions waiver covering China on May 2. He said the sanctions blocked all property and interests in property of Zhuhai Zhenrong in the United States and barred its chief executive, Youmin Li, from entry into the country. "Any entity considering evading our sanctions should take notice of this action today," Pompeo said. "It underscores our commitment to enforcement and to holding the Iranian regime accountable." China's embassy in Washington rejected the US stance. "China firmly opposes the US imposition of unilateral sanctions and so-called 'long-arm jurisdiction' on China and other countries invoking its domestic law," a spokesperson said by email. "We urge the US to immediately correct its wrongdoing and earnestly respect other parties' legal rights and interests."Zhuhai Zhenrong, which specializes mainly in buying Iranian oil and is based in Beijing, was previously sanctioned in 2012 by the Obama administration over its dealings with Iran. The company became a subsidiary of Macau-based, state-controlled conglomerate Nam Kwong Group in a merger mandated by Beijing in late 2015. In a brief statement on its website on Tuesday, Nam Kwong said Zhuhai Zhenrong had been "officially spun off" since Sept. 30, 2018. Nam Kwong had "no equity ties, or any business or legal relations" with the oil trader, it said. A Nam Kwong spokesman declined to comment further. Analysts at ClearView Energy Partners said Zhuhai Zhenrong is largely disconnected from the Chinese financial system, which would limit the "contagion" of the sanctions to other entities and banking systems. But they said Washington's move was another shot across the bow to demonstrate the Trump administration's stance on Iran. "We see the shot as being aimed just at China, but also at other potential buyers," such as Turkey and possibly Russia, which could serve as a middleman for brokering oil from Iran to other countries, ClearView said. The United States reimposed sanctions on Iran in November after pulling out of the 2015 nuclear accord between Tehran and six world powers. Last month, the US special representative for Iran, Brian Hook, said Washington would sanction any country that continued to import Iranian oil and warned that it would look at reports of Iranian crude going to China. According to data from government and trade sources, Asia's crude oil imports from Iran fell in May to the lowest in at least five years after China and India wound down purchases amid US sanctions, while Japan and South Korea halted imports.

US sanctions Chinese oil buyer over alleged Iran violations