Latest news with #British
Hans India
32 minutes ago
- Business
- Hans India
FMCG, auto shares drag markets lower for 2nd day
Mumbai: Stock markets declined for the second straight day on Wednesday with benchmark Sensex falling by 239 points dragged by losses in FMCG major ITC. The 30-share BSE barome-ter declined 239.31 points or 0.29 per cent to settle at 81,312.32. During the day, it lost 307.61 points or 0.37 per cent to 81,244.02. The 50-issue NSE Nifty dropped 73.75 points or 0.30 per cent to close at 24,752.45. Analysts said the key indices remained largely range-bound ahead of the monthly expiry on Thursday and the release of GDP and industrial production data. FMCG, auto, and pharma shares declined while banking, mainly PSUs, media and energy shares advanced. Among Sensex stocks, ITC fell over 3 per cent after British multinational BAT trimmed its ownership in the conglomerate by divesting a 2.5 per cent stake for Rs 12,927 crore ($1.51 billion) through a block deal. IndusInd Bank, Nestle, UltraTech Cement, Mahindra & Mahindra, Power Grid, Asian Paints, Sun Pharma and Tech Mahindra were also among the lag-gards. Bajaj Finance, Bharti Airtel, ICICI Bank, Adani Ports and HCL Tech were among the gainers. 'The domestic indices remained rangebound with a negative bias, primarily due to the lack of support from FIIs and prevailing premium valuations. A lingering concern over India-US trade relations following the end of the 90-day pause period continues to pose an external risk,' Vinod Nair, Head of Research, Geojit Investments Limited, said. The BSE smallcap gauge climbed 0.50 per cent while midcap index dipped 0.22 per cent. Among sectoral indices, FMCG dropped the most by 1.33 per cent, followed by metal (0.69 per cent), auto (0.67 per cent), consumer durables (0.58 per cent), commodities (0.52 per cent) and consumer discretionary (0.51 per cent). Financial Services, industrials, telecommunication, bankex, capital goods, services and teck were the gainers. 'Markets were extremely range-bound with a negative bias as weak European cues and domes-tic monthly F&O expiry on Thursday prompted investors to trim their holdings. The minutes of the US FOMC (Federal Open Market Committee) meeting held in early May will provide some hint to the markets on the direction of the interest rates going ahead,' Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.
Yahoo
an hour ago
- Business
- Yahoo
Elon Musk leaves Trump's team
Elon Musk has stepped down from his role in Donald Trump's government. A White House spokesman confirmed on Wednesday that the billionaire entrepreneur was leaving the administration and that 'off-boarding will begin tonight'. In an announcement posted on social media, Mr Musk said that his 'scheduled time as a special government employee' was coming 'to an end'. He thanked the US president 'for the opportunity to reduce wasteful spending' through his appointment to the Department of Government Efficiency (Doge). 'The Doge mission will only strengthen over time as it becomes a way of life throughout the government,' Mr Musk wrote on X. Mr Trump did not immediately comment on the departure, and a source told Reuters that Mr Musk had made the announcement prior to any formal exit conversation with the president. Mr Musk's 130-day mandate as a special government employee was set to expire around May 30. His departure comes days after he criticised the price tag of Republicans' tax and budget legislation making its way through Congress. The Tesla founder said earlier this week that he was 'disappointed to see the massive spending Bill, which increases the budget deficit, and undermines the work that the Doge team is doing'. The comments were part of his broader criticism of Mr Trump's 'big, beautiful bill', which has promised to deliver $4.5 trillion (£3.3 trillion) worth of tax cuts while significantly increasing America's deficit. Mr Musk has previously warned that the world's largest economy was going 'bankrupt' as a result of its $36.2 trillion debt pile, echoing similar concerns made by economists since Mr Trump came to power. He told the Joe Rogan podcast in January: 'If we don't act, the entire government budget will be used just to pay interest.' In April, Mr Trump reportedly told his closest allies, including members of his cabinet, that he was aware the Tesla billionaire would leave the administration. Both men had agreed that it was time for Mr Musk to develop an exit strategy and return to his businesses, Politico reported at the time. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Yahoo
an hour ago
- Entertainment
- Yahoo
Prince William's Alleged Plans For 'Disgraced' Uncle Prince Andrew Revealed Amid Strained Relationship
Royal experts say Prince William is determined to permanently sideline Prince Andrew from royal life due to his damaging scandals, particularly ties to Jeffrey Epstein. The future king reportedly holds a deep grudge with his uncle and sees him as a liability to the British monarchy's reputation. With public support on his side, reports claim Prince William plans to exclude Prince Andrew from any official role once he ascends to the throne. According to Fox News Digital, royal experts revealed that Prince William is expected to take decisive action regarding Prince Andrew's role in the monarchy once he becomes king. British royal expert Hilary Fordwich explained that "Prince William has long had a strained and distant relationship with Andrew," reportedly holding "a grudge against his disgraced uncle." She noted: "Andrew's future within the royal family is beyond bleak since Prince William is firmly opposed to any public rehabilitation with no foreseeable path back. He wants Andrew to vanish from public view." Fordwich emphasized that William's stance on the matter has remained "consistent and unwavering," driven by a deep desire to "protect the monarchy's reputation," and ensure its long-term survival. "[William is] very in touch with the public," she added, per the New York Post. "Every public opinion poll has Andrew at the bottom, reinforcing Prince William's stance. Once king, no doubt, Prince William will ensure Andrew is completely excluded from royal life, as well as all public appearances." Fordwich's remarks echo recent statements by longtime BBC royal correspondent Jennie Bond, who told Closer Weekly that William has little interest in managing his uncle's tarnished reputation. "William has been a strong voice in managing 'the Andrew problem," Bond said. "He is adamant that there is no way back for his uncle." Bond emphasized that William is focused on keeping the monarchy relevant in a rapidly changing world. "I think [the Prince and Princess of Wales] are completely united in doing all they can to keep the monarchy connected with the younger generation," she explained. "They look modern, they act modern." British broadcaster and royal commentator Helena Chard echoed similar sentiments regarding William's feelings about Andrew in a conversation with Fox News Digital. Chard said that "Prince William's role within the royal family is more prominent and influential than ever, as is his center stage position in diplomatic relations." "He recognizes the public animosity towards Andrew," Chard explained. "He views him as a complete liability with his series of scandals, both past and present, shoveling shame on the family. His stance towards his uncle is tough. He will not entertain anyone toxic to the brand. Andrew will not be part of the streamlined monarchy." Once positioned as second in line to the British throne, Andrew has become a lasting figure of controversy. His public image took a significant hit after a widely criticized BBC interview in 2019, which was an attempt to address his connection to disgraced financier and convicted sex offender Jeffrey Epstein. Instead of offering clarity or compassion for Epstein's victims, Andrew's responses raised more questions and sparked widespread backlash. The fallout was swift as his mother, Queen Elizabeth II, removed him from official royal duties and patronages, effectively sidelining him from public life. In recent years, his older brother, King Charles III, has reportedly sought to further distance the monarchy from scandal by encouraging Andrew to vacate Royal Lodge, a vast, 30-room residence on the Windsor estate, and relocate to a smaller cottage within the castle grounds. Despite these efforts, Andrew has held onto the property, resisting pressure to downsize. According to reports, William is also slowly "seizing" power from his father as the monarch continues to battle cancer. Since King Charles III was diagnosed with the illness last year, he has reportedly handed over more and more responsibilities to the Prince of Wales, seemingly "acknowledging that his time to rule will be sooner rather than later." Now, the heir apparent is said to be making bold, tough decisions, regardless of whose toes he steps on, amid his influence growing in recent months. He is also not hesitating to let go of those who oppose him, particularly when it comes to making decisions he believes will benefit the Crown in the long run. "It's no secret that anyone who pushes back against him will be swiftly shown the door," a palace insider told Intouch.
NBC News
an hour ago
- Entertainment
- NBC News
Climbers use controversial xenon gas to climb Everest May 29, 2025 03:46
Four British climbers ascended Mount Everest in under a week, aided by a controversial new treatment called xenon gas. NBC News' Camila Bernal explains the controversy as some critics say it is 29, 2025
The Star
2 hours ago
- Business
- The Star
Ringgit slips against US$ as Fed seen delaying rate cuts
KUALA LUMPUR: The ringgit opened lower against the US dollar on Thursday, as expectations dimmed for a near-term rate cut by the US Federal Reserve (Fed), an analyst said. At 8 am, the local note declined to 4.2300/2650 against the greenback from Wednesday's close of 4.2215/2275. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US Dollar Index (DXY) rose 0.36 per cent to 99.875, after minutes from the Federal Open Market Committee (FOMC) signalled that rising stagflation risks could delay monetary easing this year. "It appears the Fed is concerned about the risks posed by persistently high inflation, despite weak job growth prospects. "The impression is that the Fed may be reluctant to cut the federal funds rate to support growth, presenting a policy dilemma, as it must also ensure that inflation remains under control,' he told Bernama. Citing the recent FOMC minutes, Mohd Afzanizam said the risk of a US recession has increased, as uncertainties over trade policies and export restrictions could impede economic activity. Hence, at the upcoming FOMC meeting in June, the Fed staff is expected to release a revised set of macroeconomic forecasts, with a downward adjustment from the March projections appearing likely, he added. At the opening, however, the ringgit traded higher against a basket of major currencies. It rose against the Japanese yen to 2.8998/9240 from Wednesday's close of 2.9271/9315, gained vis-à-vis the euro to 4.7494/7887 from 4.7838/7906, and appreciated against the British pound to 5.6779/7249 from 5.7028/7109. The local note, meanwhile, traded mixed against its ASEAN peers. It strengthened against the Singapore dollar to 3.2674/2950 from 3.2776/2825 on Wednesday, and advanced against the Thai baht to 12.8771/9947 from 12.9355/9614. However, it edged lower versus the Indonesian rupiah to 259.5/261.8 from 259.0/259.5, and declined vis-à-vis the Philippine peso to 7.62/7.69 from 7.60/7.62. - Bernama
