Infosys McCamish Systems (IMS) settled with Vermont's Department of Financial Regulation for failing to provide timely information during a cybersecurity incident investigation and delaying notifications to affected parties. IMS will pay a $125,000 penalty without admitting violations. This follows a $17.5 million settlement in March to resolve class-action lawsuits related to the 2023 breach.
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India faces trade deficits with most countries having free trade agreements. These partners contribute significantly to India's overall trade deficit. Newer agreements show better utilization compared to older ones. Reviews of trade pacts with ASEAN and Korea are underway. India's reliance on FTA partners has increased, with imports rising. Efforts are ongoing to balance trade and improve agreement utilization.
China's exports experienced a faster growth in June, driven by a temporary easing of US tariffs, leading to a surge in orders before an impending deadline. Despite a decline in exports to the US, overall trade activity expanded, with exports to Southeast Asia and the EU increasing.
Eternal, parent of Zomato and Blinkit, sees net profit decline by 90% in Q1FY26. Revenue increases 70% to Rs 7,167 crore. The drop in profit is due to investments in quick commerce. Total expenses rise 15% YoY. Quick commerce NOV exceeds food delivery NOV. Hyperpure revenue rises 89% YoY. The company anticipates a temporary de-growth in B2B segment.
Wyndham Hotels & Resorts is significantly expanding its presence in India, aiming to become a top growth market with over 50 new properties planned. The company intends to introduce more of its global brands while strengthening existing ones like Ramada.
Sri Lankan exporters are concerned about a potential 30 percent tariff on goods entering the United States. The Exporters Association of Sri Lanka urges the government to negotiate with Washington before August 1. They highlight that competitor nations face lower tariffs. The association advises exploring new international markets to protect the economy from trade shocks.
Nvidia CEO Jensen Huang's visit to Beijing, marked by enthusiastic public reception and meetings with high-ranking officials, underscores Nvidia's commitment to the Chinese market amidst US-China trade tensions. Despite potential challenges from domestic competitors, Huang emphasized the importance of China's supply chain and acknowledged Huawei's capabilities, signaling a strategic approach to navigating the complex geopolitical landscape.
Blackstone has withdrawn from the consortium aiming to invest in TikTok's US operations, adding to the uncertainty surrounding the deal. The investment group, led by Susquehanna International Group and General Atlantic, was considered the front-runner to acquire majority control. The exit comes amid delays and US-China trade tensions.
Wall Street saw slight gains this Monday, staying close to record highs. Telecom giant Verizon led the way after strong earnings. Microsoft shares dipped due to a software patch. Block Inc joined the S&P 500. Steelmaker Cleveland-Cliffs rose, crediting Trump-era tariffs. Investors are watching upcoming earnings from companies like General Motors and Tesla.
Mercedes-Benz India is set to increase its prices by 1% to 1.5% starting in September. This decision comes as a direct response to the sustained weakness of the Indian rupee against the euro. According to MD and CEO Santosh Iyer, the exchange rate has remained consistently at the 100 INR mark, necessitating the price adjustment to mitigate the financial impact.
HDFC Bank and ICICI Bank both reported robust earnings growth for the June 2025 quarter, fueled by increased interest and non-interest income. HDFC Bank announced a bonus issue and dividend, with net profit rising 12.2%. ICICI Bank's net profit grew by 15.4%, driven by income growth, while both lenders expressed caution regarding margin pressures and certain retail lending segments.