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Bloomberg Quint
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Trump Says He’s Weighing Federal Takeover of Washington, DC
- President Donald Trump mentioned in a cabinet meeting the consideration of taking control of Washington, DC to improve governance.
- Trump's chief of staff is in contact with DC Mayor Muriel Bowser, but the specific plan for the potential federal takeover was not disclosed.
- The relationship between Trump and Bowser has been mixed, with efforts to collaborate on certain issues despite occasional criticisms from Trump regarding crime and homeless encampments.
- The discussion of federal influence extended to New York City, with Trump warning against a communist candidate winning the mayoral race and hinting at exerting federal power if necessary.
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Bloomberg Quint
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SpaceX Valuation To Hit Around $400 Billion In Share Sale
- SpaceX is planning to raise money and sell insider shares, valuing the company at around $400 billion.
- This valuation would make SpaceX the largest-ever privately held US company, surpassing its previous valuation of $350 billion.
- The valuation considers factors like the success of its Starlink satellite internet unit and advancements in the Starship rocket program.
- SpaceX's strategy includes a primary fundraising round to sell new shares to investors and a secondary offering for employee and early investor shares.
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Bloomberg Quint
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Apple COO Jeff Williams To Retire In Major Changing Of Guard
- Apple's COO Jeff Williams to retire, marking a major leadership change at the company.
- Sabih Khan will be the new COO, with Apple's design team reporting directly to CEO Cook.
- Williams, a long-time deputy overseeing supply chain and engineering, will retire later this year.
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Bloomberg Quint
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Stock Market Today: All You Need To Know Going Into Trade On July 9
- NSE Nifty 50 and BSE Sensex ended higher on Tuesday, influenced by US-India trade deal.
- Kotak Mahindra Bank and HDFC Bank were top contributors to NSE Nifty 50 index.
- Stocks like Pharma, Gujarat Pipavav, Tata Steel, and Union Bank of India in focus.
- Companies like JSW Steel, Zee Entertainment, and Tata Motors reported updates.
- Currency market update: Rupee closed stronger against US Dollar, 10-year bond yield higher.
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Bloomberg Quint
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Glen Industries To Utilise IPO Funds For Capacity Expansion
- Glen Industries is conducting an initial public offering to raise Rs 63 crore for expanding its production capacity, with a focus on manufacturing thin-wall food containers and paper-based packaging.
- The IPO funds will predominantly be used for setting up a new production facility that is estimated to cost around Rs 100 crore, with a portion coming from equity and the rest through a term loan.
- The current production capacity of Glen Industries includes 665 tonnes per month for thin-wall food containers, alongside quantities for paper and PLA straws, with plans to increase production significantly upon the new facility's completion.
- The company anticipates a substantial revenue increase post-expansion and aims to have the new facility operational by January 2026, aligning with expectations of exponential turnover growth within the quick-service-restaurant industry.
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Bloomberg Quint
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271
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Worst Over For Microfinance Sector, Revival In Rural Demand To Aid Growth: Satin Creditcare Chairman Singh
- The microfinance sector is showing signs of recovery with rural demand supporting growth, according to Satin Creditcare Network Ltd. chairman HP Singh.
- Positive indicators include improved asset quality metrics and increased disbursements, driven by a revival in the rural economy.
- The company maintains a focus on technology to enhance customer acquisition, disbursement cycles, and collection efficiency.
- In FY26, the company anticipates a decline in credit costs from the 4.6%-4.7% range seen in FY25, with a strong emphasis on maintaining good asset quality.
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Bloomberg Quint
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Keystone Realtors Set To Surpass Rs 4,000-Crore Guidance In FY26: Executive Director
- Keystone Realtors Ltd. is confident of surpassing its guidance of Rs 4,000 crore in pre-sales for FY26, having achieved one-fourth of it in the first quarter.
- In the first quarter of FY26, the Mumbai-based developer reported a pre-sales of Rs 1,068 crore, the best Q1 pre-sales it has ever seen, with collections totaling Rs 575 crore.
- The company has acquired 18 projects in the last two and a half years with a total GDV of around Rs 20,000 crore and added another Rs 7,000 crore of projects in the latest quarter.
- Keystone Realtors is expanding its presence within and beyond the Mumbai Metropolitan Region and exploring plotted development markets in various areas. The company has been successful in passing on increased project costs to homebuyers.
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Bloomberg Quint
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Stock Market Live: GIFT Nifty Implies Negative Open; Vedanta, Hindalco, Cipla, Lupin, Dr. Reddy's In Focus
- Indian markets are expected to open lower due to weak global cues with the Nifty 50 likely to have support at 25,400 and resistance at 25,600.
- Global markets, including Asia and the US, experienced declines following announcements by US President Donald Trump of tariffs on copper and pharmaceutical imports, leading to a negative sentiment in the markets.
- The GIFT Nifty was trading down, indicating a negative open. Investors might focus on companies like JSW Steel, Tata Steel, Seamec, Dixon Technology, and Rail Vikas Nigam for news impact.
- The Nifty 50 and BSE Sensex closed higher on the previous day, influenced by Kotak Mahindra Bank and HDFC Bank performance, amidst trade deal uncertainties between the US and India.
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Bloomberg Quint
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Petrol, Diesel Prices Flat On July 9 — Here's How Much You Pay For Fuel In Your City
- Fuel prices in India remained unchanged on July 9, 2025, with petrol and diesel prices holding steady across most metros.
- Petrol is priced at Rs 94.77 per litre in Delhi, Rs 103.50 in Mumbai, Rs 100.80 in Chennai, and Rs 105.41 in Kolkata. Diesel costs Rs 87.67 in Delhi, Rs 90.03 in Mumbai, Rs 92.39 in Chennai, and Rs 92.02 in Kolkata.
- The stability in fuel prices dates back to May 2022 after reductions in fuel taxes by the central and state governments.
- Oil marketing companies like Indian Oil Corp. review petrol and diesel prices daily based on global crude prices, exchange rates, demand, and market trade flow. Oil prices have been impacted by geopolitical risks, with Brent crude at $69.94 a barrel and West Texas Intermediate near $68.11 on July 9.
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Bloomberg Quint
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US Copper Prices Surge To Record As Trump Calls For 50% Tariff
- US copper prices surge to record high after Trump's announcement of 50% tariff.
- New York copper price hits $5.5085 per pound, while London Metal Exchange drops.
- The tariff implementation is expected to impact various industries heavily reliant on copper.
- Market anticipates rise in copper prices due to increased demand for electric vehicles.
- Global copper industry braces for impact of tariffs, particularly affecting Chilean imports.
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Bloomberg Quint
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Oil Prices Steady As Industry Report Points To Gain In US Stockpiles
- Oil prices held steady as traders assessed the increase in US crude stockpiles and the impact of President Trump's tariff policies.
- Brent was near $70 a barrel, while West Texas Intermediate traded around $68, with US inventories reportedly rising by 7.1 million barrels last week, the largest surge since January.
- Investors are closely monitoring US trade policy developments, including Trump's tariff agenda, which could affect demand. The recent Israel-Iran conflict added to oil price volatility, although a fragile truce is currently in place.
- Choppy oil prices in the US are hampering drilling activities, leading to a decrease in the rig count to near four-year lows. WTI and Brent prices showed minor fluctuations in recent trading sessions.
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Bloomberg Quint
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367
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Bharat Bandh Today: What's Open, What's Closed During General Strike?
- More than 25 crore workers from banking, insurance, postal services, coal mining, and highways sectors have called for a nationwide strike to protest against 'pro-corporate policies.'
- Various trade unions are participating in the strike, including central trade unions and other organizations, aiming to address issues like decreased worker rights and high unemployment rates.
- Services likely to be affected by the strike include banking, insurance, postal services, public transport, government offices, and public sector units.
- The National Stock Exchange and BSE are expected to operate as usual, while schools, colleges, private offices will remain open; protester demands include stopping the implementation of four new labor codes and improving job opportunities.
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TechCrunch
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Rivian spinoff Also raises another $200M to build e-bikes and more
- Also Inc., a micromobility startup spun out of Rivian, has raised $200 million from Greenoaks Capital, bringing its post-money valuation to $1 billion.
- The startup was previously known as Project Inder, a skunkworks team inside Rivian in 2022, focusing on e-bikes and working with renowned designer Jony Ive’s firm LoveFrom.
- Established as its own company, Also plans to create micro-EVs of various types, with the first designs expected to be unveiled later this year.
- Rivian and Also were unreachable for comment at the time of reporting. TechCrunch will update if they respond.
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Medium
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The Embodied AI Investment Thesis: Why the Next Breakthrough Might Take Longer Than You Think
- Embodied AI involves systems perceiving environment, reasoning, and taking physical actions.
- Current challenges involve real-time 3D scene understanding, computational feasibility limits.
- Language models are crucial but physical control systems require continuous time operation.
- Investment areas include vertical solutions, infrastructure plays, and hardware-software integration.
- Key technical challenges: sim-to-real transfer, sample efficiency, safety, latency/compute limitations.
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Pymnts
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Report: Mistral Aims to Raise Financing for AI Cloud Service
- Mistral AI is seeking to raise up to $1 billion in equity financing and hundreds of millions of euros in debt for their AI cloud service called Mistral Compute in France.
- The potential funding would deepen ties between France and the UAE in the AI field as Mistral AI is based in France and MGX in Abu Dhabi. Both companies have partnered with Nvidia for an AI project.
- The CEO of Mistral AI, Arthur Mensch, mentioned that the company is transitioning to becoming a vertically integrated AI cloud provider, expanding their business model.
- Mistral AI had reportedly tripled its revenue in about three months and is valued at $6 billion, although the actual revenue figures are not publicly disclosed.
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