U.S. Markets Move Down; Cool off from Highs

Equity markets in the U.S. moved down after 3-days of green. The markets are cooling down after touching all-time highs yesterday.

Energy and commodity based sectors moved down after a bullish first three days of the week.

Stoxx Europe is up 0.10%

Dow Jones is down by 0.29%

NASDAQ is up by 0.11%

DoorDash Looking To Buy Instacart For $40-50 Billion

US food delivery company DoorDash is planning to buy grocery delivery firm Instacart in a deal pricing between $40 billion and $50 billion(RS 2.9 lakh crores-3.7 lakh crore). Instacart is preparing to get listed through an IPO in the coming weeks and the company had also separately started talks with Uber Technologies about a sales partnership.

New Zealand To Reopen Borders From Early 2022

New Zealand government said on Thursday the country is planning to cautiously reopen its borders to international travelers from the start of 2022. The government will delay the second vaccine shots in order to boost the first shots to reach more people as global Delta cases rise.

Evergrande May Get More Time To Repay Maturing Loans

Latest reports say China Evergrande Group may get more time from three major creditors- China Minsheng Banking Corp, China Zheshang Bank, and Shanghai Pudong Development Bank to repay maturing loans. Zheshang Bank had given time till 2021 end for the repayment of two loans due in July and August. The other creditors didn’t comment on the reports.

Impossible To Control Covid Spread: Tokyo Advisory Panel

Covid advisory panel of the Tokyo Metropolitan Government said on Thursday it has become impossible to control Covid spread in the capital. The government is considering extending the state of emergency in Tokyo which is currently set to be lifted at the end of August.

Baidu Quarterly Results Beat Estimates

Chinese search giant Baidu reported total revenue of 31.35 billion yuan (Rs 35,927 crores)in the second quarter ended June 30 against analysts’ average estimate of 30.96 billion yuan(Rs 35,480 crores). The results were boosted by higher ad sales, AI demand, and the company spent about 15.9 billion yuan(Rs 18,221 crores) in the quarter to ramp up its products. 

China Forces Smart Car Makers to store data locally

The world’s second largest economy, China, is looking to force smart-car manufacturers to store locally generated data in the country’s local servers. 

Government bodies will need to approve all data exports and even software updates being pushed, in a bid to limit data collected by carmakers including Tesla.

India Set to Clear Boeing 737 Max to Fly Again Within Days

India is set to allow Boeing Co.’s 737 Max jets to resume flights in the country within days, according to a person familiar with the matter, clearing one of the last remaining hurdles for the U.S. planemaker as it seeks to get the model flying again worldwide.

Oil Supertankers in Doldrums With Bunker-Fuel Costs High

The summer doldrums are here for oil supertankers. Freight rates on the benchmark route from the Middle East to Asia have slipped to their lowest levels since March, meaning lower earnings for those vessels, Baltic Exchange data show. At the same time, ship-fuel costs have jumped.