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Mahesh Muralidhar Pai Set to Head South Indian Bank Following RBI Clearance
Mahesh Muralidhar Pai will become South Indian Bank’s next Managing Director and CEO. The Reserve Bank of India approved his appointment through a letter dated July 7, 2026. Pai’s three-year term begins on October 1, 2026, succeeding outgoing CEO P R Seshadri. He currently serves as Chief General Manager at Canara Bank, leading digital banking…
Zhipu AI (HKEX: 2513) Jumps 14.16% on Report of Custom AI Chip Development for GLM Models
Zhipu AI shares skyrocketed 14.16% during intraday trading on July 8, 2026. The stock, listed as Knowledge Atlas Technology, touched HK$1,838.00 by 10:45 AM GMT+5. That marked a gain of HK$228.00 over the previous close of HK$1,610.00. The rally follows a report that Zhipu AI is exploring a custom AI chip for its GLM model…
SENSEX Drops 530 Points, NIFTY50 Slips to 24,244 as West Asia Tensions Drive Oil Prices Higher
On July 8, 2026, Indian stock markets came under heavy selling pressure after fresh tensions in West Asia pushed global crude oil prices higher. The BSE Sensex lost more than 530 points, while the NIFTY50 slipped to 24,244 as investors turned cautious. Because India relies heavily on imported crude oil, any sharp increase in oil…
Capita (LON: CPI) Stock Plunges 15.1% After UK Government Statement on Civil Service Pension Contract
Capita shares fell 15.1% on Tuesday, July 7, 2026, after a ministerial statement on its pension contract. Some reports put the intraday drop as high as 16%. The Paymaster General criticized Capita’s handling of the Civil Service Pension Scheme. This marks another setback in Capita’s troubled outsourcing history. What Triggered Capita’s Stock Plunge Cabinet Office…
Samsung Profits Surge 1,800% as AI Memory Chip Demand Drives Record ₩89.4 Trillion Quarterly Operating Profit and ₩171 Trillion Sales
Samsung posted a record second-quarter operating profit of 89.4 trillion won, up 1,810.3% year-over-year. The company reported revenue of 171 trillion won, compared with 133.9 trillion won last quarter. AI-driven memory chip demand powered this surge. The results mark Samsung’s third consecutive record quarter this year. Samsung Posts Record Profit on AI Memory Demand Samsung…
Trent Stock Down 10.81% After Slower Growth Warning
Trent stock fell 10.81% on July 7, 2026, hitting a low of ₹2,986 on the NSE. The Tata Group retailer reported 19% year-on-year standalone revenue growth for Q1 FY27. That figure missed analyst estimates of 22-23% growth. Weak store productivity and a slower expansion pace triggered the sharp selloff. Trent Stock Falls on Revenue Growth…
Australian Economy Faces Worst Slowdown Since 1990s Recession
The Australian economy is heading toward its weakest stretch of growth since the early 1990s recession. Deloitte Access Economics now forecasts GDP growth of just 1.3% for 2026/27. That follows a downgrade from an earlier estimate of 1.9%. Inflation, rate hikes, and weak productivity are driving this slowdown across the country. Growth Forecasts Fall Sharply…
Samsung Electronics Co Ltd Falls 9.12% Despite Record 2Q Profit
Samsung Electronics shares dropped 9.12% on July 7, 2026, even after posting record quarterly profit. The company reported preliminary Q2 operating profit of 89.4 trillion won ($58.4 billion). That figure surged 1,810.3% year over year. Investors sold into the news anyway, triggering a sharp single-day decline across South Korea’s chip sector. Samsung Electronics Posts Record…
Oil Prices Mixed as OPEC+ Output Hike Offsets Hormuz Risks; WTI Holds at $68.72 While Brent Slips to $71.97
Oil prices are trading mixed today, with WTI holding at $68.72 and Brent slipping to $71.97 per barrel. An OPEC+ decision to raise output is offsetting lingering risks around the Strait of Hormuz. Both benchmarks remain near their lowest levels since late February this year. OPEC+ Adds to Supply Concerns OPEC+ approved another output increase…