Financial Summary: Tuesday, July 22, 2025

US Treasury Secretary Scott Bessent has called for an investigation into the Federal Reserve amid concerns from the Trump administration.

OpenAI has partnered with the UK government to enhance AI-driven digital services under Prime Minister Keir Starmer's leadership.

President Trump announced a trade and military deal with the Philippines, which includes a 19% tariff on goods.

Microsoft has accused Chinese hackers of exploiting vulnerabilities in SharePoint software to target US federal and state agencies.

The UK government has secured funding for a new nuclear power plant, with taxpayers bearing most of the financial risk.

OpenAI is set to open its first office in Washington, D.C. next year, with CEO Sam Altman scheduled to speak at a Federal Reserve conference.

Microsoft is responding to a SharePoint attack that has impacted global businesses and governments, with some versions already patched.

Nvidia's advancements in AI technology are significantly reshaping the competitive landscape, affecting rivals like AMD, Intel, and ARM.

AI startups have raised a record $104 billion in the first half of 2025, indicating a complex and evolving landscape despite the number of exits.

Microsoft is enhancing its AI capabilities by recruiting talent from Google DeepMind to bolster its Copilot initiative.

Private banks in India face challenges in the home loan market due to lower interest rates offered by public sector banks and housing finance companies.

The Reserve Bank of India plans to implement stricter regulations on digital banking, including limits on third-party product displays.

India's IPO market is expected to raise over $30 billion in the next year, with around 150 companies preparing to launch their offerings.

India's office REITs are attracting global investors, outperforming the real estate market due to high demand from Global Capability Centres.

Sales of ultra-luxury homes in Mumbai increased by 20% in the first half of 2024, reaching a record total of Rs 14,751 crore.

WNBA players are pushing for higher salaries by wearing 'pay us what you owe us' shirts during collective bargaining talks.

A DOJ official is scheduled to meet with Ghislaine Maxwell amid ongoing scrutiny of the Trump administration's handling of the Epstein case.

A New Jersey man has pleaded guilty to leading a $600 million theft ring targeting catalytic converters, which became a hot commodity during the pandemic.

The S&P 500 and Nasdaq reached record highs, buoyed by strong tech earnings and positive investor sentiment.

Bitcoin fell below $117,000 as ETF outflows and investor caution ahead of Fed Chair Powell's speech weighed on the market.

Berkshire Hathaway shares dropped over 12% following Warren Buffett's announcement of his succession plans.

Hong Kong's Hang Seng Index hit a multi-year high, driven by optimism over China's infrastructure investments.

Cement shares surged up to 8% after strong Q1FY26 results indicated improved profitability and demand.

Oil prices continued to decline as trade negotiations intensify ahead of the August 1 tariff deadline.

Indian markets closed lower, with Nifty slipping 29.80 points due to pressure from IT and Reliance stocks.

Profit-taking affected momentum stocks, while DuPont faced challenges, indicating a shift in market sentiment.

Titan Holdings is acquiring a 67% stake in Damas Jewellery for $283 million, enhancing its presence in the GCC market.

Oberoi Realty reported a 28% drop in Q1 profit, reflecting challenges in the current market environment.

GNG Electronics plans to raise ₹400 crore through an IPO to support its growing working capital needs.

Bharti Airtel's market cap has surpassed TCS, making it the third-largest company in India.

State Bank of India raised ₹25,000 crore through a Qualified Institutional Placement, setting a record in India.

Reliance Industries' shares fell over 3% after disappointing Q1 earnings, despite a positive outlook from analysts.

Dixon Technologies reported a remarkable 100% year-over-year increase in net profit to Rs 280 crore for Q1.

Paytm's parent company, One 97 Communications, turned profitable in Q1 with a net gain of Rs 122.5 crore.

UltraTech Cement's net profit jumped 49% in Q1, with potential plans for a merger with India Cements by 2027 or 2028.

General Motors faced a profit decline due to a $1.1 billion hit from tariffs, impacting its overall financial performance.

Amazon is set to acquire AI company Bee, known for its wearable listening device, as part of its expansion into AI technologies.