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BusinessPhoto: ET Markets

Wall Street Banks See Bond Revenue Drop, Equities Revenue Rise

Wall Street banks faced a decline in fixed-income trading revenue due to market volatility and a bond selloff, with Treasury yields reaching multi-decade highs. This led to reduced client activity in bonds. However, firms like Goldman Sachs and Morgan Stanley reported significant growth in equities trading revenue, highlighting contrasting performances amid changing market conditions.

ET Markets·

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SportsPhoto: Cricinfo

Samson Calls Tilak's Wicket Turning Point in India's T20I Loss

Sanju Samson identified Tilak Varma's wicket as the turning point in India's defeat in the 4th T20I against West Indies. Former players and experts criticized India's batting lineup, with Sunil Gavaskar urging more responsibility and better chasing strategies after the 23-run loss. The team’s combination and approach were questioned as key factors in the defeat.

Cricinfo·

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WorldPhoto: AajTak

Ship Sinks in Hormuz Strait After Hitting Naval Mine

A ship carrying 2,500 containers, including iPhones and foreign perfumes, sank in the Hormuz Strait after hitting a naval mine. This incident marks the first such event since the conflict escalation in the region. Tensions have risen following missile attacks, with Iran's deputy military chief issuing warnings to vessels passing through the strait. The situation reflects growing instability in this strategic waterway.

AajTak·

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PoliticsPhoto: Bar and Bench

Supreme Court Rules Converts to Islam Can't Claim OBC Status

The Supreme Court ruled that individuals who convert from Hinduism to Islam cannot claim Backward Class (OBC) Muslim status based solely on their pre-conversion caste. This decision upholds a High Court order denying OBC reservation benefits to Hindu converts to Islam, clarifying that conversion does not automatically grant backward class quota benefits.

Bar and Bench·

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Business

WTO Chief Warns of Lasting Trade Impact from Middle East War

The WTO chief has warned that the ongoing war in the Middle East and related geopolitical tensions will have a lasting impact on global trade. These conflicts are expected to disrupt supply chains and trade flows, affecting economies worldwide. The WTO highlights the need for international cooperation to mitigate these effects and stabilize trade relations.

Reuters·

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BusinessPhoto: International Labour Organization

ILO Supports Stronger Business Institutions in Libya

The International Labour Organization (ILO) supported three capacity-development programs with member chambers of the General Union of Libyan Chambers of Commerce, Industry and Agriculture. These programs aimed to identify institutional priorities and concrete actions to strengthen business representation, enhance member engagement, and improve services in Libya.

International Labour Organization·

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