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<keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword> on Saturday posted a marginal 5 per cent increase in its standalone profit at Rs 16,821 crore in the second quarter ended September 2024. The country's biggest private sector lender had earned a <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword> of Rs 15,976 crore in the same quarter a year ago. Total income increased to Rs 85,500 crore during the quarter under review against Rs 78,406 crore in the same period last year, HDFC Bank said in a regulatory filing. The bank reported <keyword id="20202322" type="General" weightage="20" keywordseo="interest-income" source="keywords">interest income</keyword> of Rs 74,017 crore during the quarter compared to Rs 67,698 crore in the same period a year ago. Net Interest Income (NII) improved to Rs 30,110 crore, from Rs 27,390 crore in the second quarter of previous year, registering a 10 per cent growth. As regards asset quality, the bank witnessed slight deterioration with gross <keyword id="19927319" type="General" weightage="20" keywordseo="Non-Performing-Assets" source="keywords">Non-Performing Assets</keyword> (NPAs) rising to 1.36 per cent of the gross loans by the end of September 2024 from 1.34 per cent a year ago. Similarly, net NPAs or bad loans rose to 0.41 per cent from 0.35 per cent at the end of the second quarter of the previous fiscal. On a consolidated basis, the bank logged a growth of 6 per cent in net profit to Rs 17,826 crore as against Rs Rs 16,811 crore in Q2FY24. SEE ALSO:<a href="https://www.businessinsider.in/personal-finance/news/best-credit-cards-for-online-shopping-in-india/articleshow/114354358.cms" target="_blank"></a> <a href="https://www.businessinsider.in/personal-finance/news/best-credit-cards-for-online-shopping-in-india/articleshow/114354358.cms" target="_blank">Best credit cards for online shopping this festive season</a><a href="https://www.businessinsider.in/tech/mobile/webstories/best-smartphones-under-25000-in-india-in-october-2024/slidelist/114339207.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/best-smartphones-under-25000-in-india-in-october-2024/slidelist/114339207.cms" target="_blank">Best smartphones under ₹25,000 in India in October 2024</a><a href="https://www.businessinsider.in/stock-market/webstories/waaree-energies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/114350114.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/waaree-energies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/114350114.cms" target="_blank">Waaree Energies IPO – Price band to risk factors, all you need to know</a>

HDFC Bank Q2 profit soars 5% to ₹16,821 crore

Leading multiplex operator <keyword id="19986619" type="General" weightage="100" keywordseo="PVR-INOX" source="keywords">PVR INOX</keyword> plans to close 70 <keyword id="22996404" type="General" weightage="20" keywordseo="non-performing-screens" source="Orion">non-performing screens</keyword> in FY25 and will go for potential <keyword id="20069509" type="General" weightage="20" keywordseo="monetisation" source="keywords">monetisation</keyword> of non-core <keyword id="20478737" type="General" weightage="20" keywordseo="real-estate-assets" source="keywords">real estate assets</keyword> in prime locations such as Mumbai, Pune, and Vadodara, according to its latest annual report. Though the company will add 120 new screens in FY25, it will also close almost 60-70 non-performing screens, as it chases for <keyword id="738150" type="General" weightage="20" keywordseo="profitable-growth" source="Orion">profitable growth</keyword>. About 40 per cent of new screens addition will come from South India, where it will have a "strategic focus" on this lesser penetrated region as per its medium to long-term strategy. Moreover, <keyword id="799" type="General" weightage="20" keywordseo="PVR" source="Orion">PVR</keyword> <keyword id="6407732" type="General" weightage="20" keywordseo="INOX" source="Orion">INOX</keyword> is redefining its growth strategy by transitioning towards a capital-light growth model to reduce its capex on new screens addition by 25 to 30 per cent in the current fiscal. Now, PVR INOX will partner with developers to jointly invest in new screen capex by shifting towards a franchise-owned and company-operated (FOCO) model. It is also evaluating monetisation of owned real estate assets, as the leading film exhibitor aims to become "net-debt free" company in the foreseeable future. "This involves a potential monetisation of our non-core real estate assets in prime locations such as Mumbai, Pune, and Vadodara," said Managing Director Ajay Kumar Bijli and Executive Director Sanjeev Kumar addressing the shareholders of the company. In terms of growth, they said the focus is to speed up expansion in underrepresented markets. "Our company's medium to long-term strategy will involve expanding the number of screens in South India due to the region's high demand for films and comparatively low number of multiplexes in comparison to other regions. We estimate that approximately 40 per cent of our total screen additions will come from South India," they said. During the year, PVR INOX opened 130 new screens across 25 cinemas and also shut down 85 under-performing screens across 24 cinemas in line with its strategy of profitable growth. "This rationalisation is part of our ongoing efforts to optimise our portfolio. The number of closures seems high because we are doing it for the first time as a combined entity," said Bijli. PVR INOX's net debt in FY24 was at Rs 1,294 crore. The company had reduced its net debt by Rs 136.4 crore last fiscal, said CFO Gaurav Sharma. "Even though we are cutting down on capital expenditure, we are not compromising on growth and will open almost 110-120 screens in FY25. At the same time, not wavering from our goal of profitable growth, we will exit almost 60-70 screens that are non-performing and a drag on our profitability," he said. In FY24, PVR's revenue was at Rs 6,203.7 crore and it reported a loss of Rs 114.3 crore. This was the first full year of operations of the merged entity PVR INOX. Over the progress on merger integration, Bijli said "80-90 per cent of the targeted synergies was achieved in 2023-24" In FY24, PVR INOX had a 10 per cent growth in ticket prices and 11 per cent in F&amp;B spend per head, which was "higher-than-normal". This was primarily on account of merger synergies on the integration of PVR and INOX, said Sharma. "Going forward, the increase in ticket prices and food and beverage spending per head will be more in line with the long-term historical growth rates," he said. PVR INOX aims to restore pre-pandemic operating margins, enhancing return on capital, and driving free cash flow generation. "We aim to boost revenue by increasing footfalls through innovative customer acquisition and retention," said Sharma adding "We are also driving cost efficiencies by renegotiating rental contracts, closing under-performing screens, adopting a leaner organisational structure, and controlling overhead costs."

PVR INOX to close 70 non-performing screens in FY25, plan monetisation of real estate assets

Imagine this. You have a younger sibling you’re mighty envious of. And why not? Unlike you, they seem to enjoy all the freedom and money in the world. They party like there’s no tomorrow, and here you are, stuck in a boring, ultra-disciplined but responsible routine that feels completely devoid of any independence, and mostly, funds. But of late, things are changing. This sibling is in massive trouble and just cannot escape the parent’s wrath anymore. Long story short, the party is over, and it is time to go back home. The rising defaults on this sibling’s part have now begun pulling the entire house down, thereby attracting the regulator’s ire. <h2>The Wild West of microfinance and unsecured loans</h2>It's hard to ignore the issues with microfinance and unsecured loans in India. Many saw them as a small gamble and ignored the rising defaults much like the younger siblings’ tantrums, and now they find themselves in hot waters. The skyrocketing instances of non-payments aren't a micro-issue anymore and are threatening the stability of the entire banking system. In the quarter ended September 30, 2024, 5 of India’s 8 largest private sector <keyword id="19934118" type="General" weightage="20" keywordseo="banks" source="keywords">banks</keyword> reported a steep rise in their bad loan book, mostly thanks to microfinance loans. Some banks, in a bid to strengthen their fortress against these <keyword id="142154" type="General" weightage="100" keywordseo="bad-loans" source="Orion">bad loans</keyword>, have significantly upped their provisions. For instance, <keyword id="46717" type="General" weightage="20" keywordseo="IndusInd-bank" source="Orion">IndusInd Bank</keyword> set aside Rs 525 crore during July and September 2024 to battle the menace of defaults on microfinance loans, which make up about 9% of its total loan book. See, banks rely heavily on their interest income, which they earn from advancing loans. Any loan where the borrower has not paid interest to the bank or defaulted for 90 days or more becomes bad, i.e., an <keyword id="79363" type="General" weightage="20" keywordseo="npa" source="Orion">NPA</keyword>, or non-performing asset for the bank. And who likes things going bad? Simply put, there has been a steep rise in three areas, much to the dislike of banks and MFIs (micro-finance institutions). But hey, it's mostly their doing! <ol><li>GNPA ratio (gross net performing assets): The quantum of non-performing assets a bank has in proportion to its total assets.</li><li>Provision: The amount banks set aside to take care of such NPAs.</li><li>Slippage ratio: The rate at which good girls go bad, or the speed at which good loans turn into NPAs</li></ol>But how are these plaguing the Indian banking sector? And what does the road ahead look like? We decode it for you. <h2> Microfinance: A not-so-micro-menace</h2>Microfinance loans were initially brought forth for low-income households and individuals, i.e. for those who might not generally have access to traditional ways of credit, like bank loans and more. They don’t require collateral or an asset to be pledged in lieu of the loan, making it a tad bit easier for borrowers. As of June 2024, the amount of outstanding loans in the microfinance industry stood at a staggering Rs 4,20,256 crore. Of this, NBFC-MFIs accounted for 40% and banks made for 33% of these. In 2022, <keyword id="30067" type="General" weightage="20" keywordseo="RBI" source="Orion">RBI</keyword>, in a bid to inspire some competition in this space, did something radical-they did away with the ceiling on how much interest MFIs could charge their customers. Previously, MFIs could add up to 12% to their cost of acquiring funds to determine the final interest rate chargeable to the consumer. So, assuming that Bank A incurs a 5% cost to acquire funds for further loaning, A could charge up to 17% interest from the end consumer. So, interest rates were in the hands of MFIs, and boy, did they have a gala time with it. Instead of spurring some healthy competition, as RBI expected, MFIs and banks went rogue and all guns blazing, competing for the title of “Who will charge the highest interest?” Recently, RBI banned 4 microfinance institutions (MFIs), namely Asirvad Micro Finance Limited, Arohan Financial Services Limited, DMI Finance Private Limited, and Navi Finserv, from disbursing loans effective October 21, 2024. Why? Because they were charging 14% extra interest over their original cost of funds. To maintain their loan books (and pockets), banks and NBFCs resorted to shady practices like netting off loans, which RBI has now advised MFIs against. Here, lenders allow borrowers to settle a previous outstanding loan by issuing them a new loan! As crazy as it sounds, it helped banks to report less of their total assets as NPAs, since the new credit would cover pending installments of the borrower’s previous loan. Then there was the issue of borrowers overleveraging, i.e. taking multiple loans using different IDs from various lenders and then failing to honor any of them. The consequence? Banks and NBFCs end up with massive NPAs. Data from credit bureaus suggests that over the last quarter, there was a 17.2% rise in the number of borrowers who had 5 or more active loans at the same time. <h2>Growth &gt; Caution</h2>It's an age-old tale unfolding yet again in India’s banking sector- Icarus flew too close to the sun and eventually, fell to its death. Between April and June 2024, NBFCs microfinance portfolio jumped by 2.7%. If you see this in terms of loan sources, microfinance loans issued by banks grew by 11.2% in Q1FY25. But the same portfolio in NBFCs swelled by almost double-23.9%. While most of these loans had an average ticket size between Rs 30,000-50,000, there was a sharp spike in the number of loans that had a ticket size of Rs 80,000 or more. Data suggests that as of March 2024, more than 12% of all microfinance borrowers had over 4 or more active loans. In dating parlance, this is a classic case of borrowers going polyamorous, minus the honesty and transparency. Not the best of situations, you'd agree! <h2>Will banks and NBFCs stand up to this stress?</h2>If their results for Q2FY25 are to be believed, NBFCs are not handling the pressure all that well. Or even slightly well. Only a few banks like Bank of Baroda (BoB), ICICI, and Indian Bank were up for the battle, even witnessing a decline in their loan delinquencies. Some others, like IndusInd Bank, saw their stock dip by a massive 16.2% over the last 5 days. Its slippages in the previous quarter burgeoned from Rs 15.3 billion in Q1FY25 to Rs 17.9 billion in Q2. As a result, the bank pushed a staggeringly high amount of money to create an NPA cushion for itself. While its management has highlighted its preference for secured lending, that was hardly reflected in its actions during the quarter, where growth in unsecured personal loans remained exceptionally high at over 7% on a QoQ basis. Turns out, only 44% of customers in IndusInd Banks’ microfinance loan portfolio were exclusive to it. The rest 47% were, you guessed it right-polyamorous! 27% had borrowed from another lender as well, apart from IndusInd Bank, while 20% were those who had outstanding loans with two other lenders, apart from IndusInd Bank. IndusInd Bank’s credit card segment did not miss the NPA bus and accounted for 7-8% of its GNPAs. Canara Bank’s total slippages during the previous quarter jumped to Rs 11.1 billion, up by 24.7% QoQ, and making up for 3.6% of its total loans. As for Bandhan Bank, its <keyword id="763994" type="General" weightage="20" keywordseo="Gross-NPA" source="Orion">gross NPA</keyword> for Q2FY25 inched up on a QoQ basis, up from 4.23% in Q1, to 4.68% in the second quarter. <keyword id="62152" type="General" weightage="20" keywordseo="IDFC-bank" source="Orion">IDFC Bank</keyword>’s heavy provisioning for its NPAs marred its profits significantly, causing its PAT (profit after tax) to dip by 73% on a YoY basis. Data from ICRA Analytics suggest that the AUM (asset under management) growth in microfinance loans and unsecured (personal and business) loans by the NBFCs will moderate to 10-12% and 19-21%, respectively, in FY2025 compared to 30% and 38%, in FY2024. Says A M Karthik, Senior Vice President &amp; Co-Group Head, Financial Sector Ratings, ICRA, “As bank funds constitute a larger share in the overall funding of NBFCs, a slower credit flow from banks to the NBFCs will compress their AUM growth. The NBFCs in unsecured and digital lending businesses shall face a higher squeeze in funding compared to others, and the unsecured lending space will continue to be a source of stress in the near term.” There has been uninhibited growth in unsecured loans, apart from just the microfinance segment. For instance, Axis Bank’s gross slippages jumped by Rs 4,443 crore, largely thanks to its unsecured business. The same is the case with Yes Bank, which saw 35–40% of its retail slippages emerging from the unsecured loan portfolio. Kotak Mahindra Bank was also quick to follow Yes Bank’s suit, with around 35%-40% of its slippages coming from credit cards. <h2>How is the road ahead?</h2>While RBI has just cracked its whip and served a warning at the moment, experts at Morgan Stanley believe that more changes (read regulatory lashes) are underway. Moreover, with both festive and wedding seasons underway in our country, unsecured lending might pick up momentum, much to the disdain of the calibrated approach banks have been taking towards it so far. But if the situation doesn't improve, RBI will not waste any time in becoming the typical tyrannical Bollywood headmaster who runs his dominion with an iron fist and takes things (and ceiling rates) into their own hands. However, that's a story for another day.

Is the lending party over? The dangerous tango of Indian banks with microfinance and unsecured loans

<ul class="summary-list"><li>An index of non-US stocks saw their steepest decline since August this week. </li><li>The broad sell-off came after Trump's election win stoked fears of coming trade wars. </li></ul>Donald Trump's win has <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/trump-election-win-stock-market-today-record-high-sp500-dow-2024-11">sent US stocks on a tear</a>, but for equities in the rest of the world, it's sparked a sell-off on fears of a widespread economic downturn due to tariff risks.An MSCI <a target="_blank" href="https://www.msci.com/indexes/index/899901">index</a> of large and mid-sized stocks outside the US tumbled 1.6% on Tuesday, its steepest daily drop since August.The Stoxx Europe 600 Index, meanwhile, lost 2.1% for its worst one-day drop in three months, while an <a target="_blank" href="https://www.msci.com/indexes/index/891800">index</a> of emerging market stocks dropped 2%. Another index shows emerging market currencies have nearly pared their year-to-date gains with a 1% drop since the election.The losses come a week after Trump's US election win and as the president-elect has appointed some key cabinet members.<a target="_blank" href="https://www.businessinsider.com/donald-trump-white-house-staff-cabinet-picks-list-2024-11">Trump's appointments</a> have shown a preference toward his most loyal supporters and those who he says share his "America First" protectionist agenda. Along the campaign trail, Trump proposed an across-the-board tariff of at least 10%, with a far steeper tariff of 60% on imports from China. If enacted, those duties would pose <a target="_blank" href="https://www.businessinsider.com/global-reaction-donald-trump-election-victory-tariffs-trade-disputes-2024-11?utm_medium=ingest&amp;utm_source=markets&amp;_gl=1*1mwwhu3*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMTUxMDc3NS4zOTkuMS4xNzMxNTEyMDU5LjcuMC4w">huge obstacles</a> for international economies reliant on trade with the US.In Europe, analysts at Dutch bank ING say there could be a "full blown recession" under Trump's tariffs, while Germany in particular could suffer a <a target="_blank" href="https://www.reuters.com/markets/europe/bundesbanks-nagel-trump-tariffs-could-cost-germany-1-economic-output-2024-11-13/">1% hit to GDP</a>, according to the country's central bank president Joachim Nagel.China's already fragile economy, meanwhile, will only be further damaged by a new trade war. Analysts at UBS say tariffs would hamstring most trade between the two nations and likely affect China's GDP."The mooted 60% tariff on imports from China and a 10% tariff on imports from the rest of the world could make much of US-China trade unviable, reduce US domestic demand and corporate profits, and lead to lower GDP growth around the world, particularly in China," the analysts wrote in a note last week.As stocks in the rest of the world have faced steep declines, US shares have rallied sharply since the election.The S&amp;P 500 and the Dow Jones Industrial Average have each jumped to record highs, driven by gains in Trump trades like bitcoin, <a target="_blank" href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-trillion-valuation-donald-trump-election-win-tsla-2024-11?_gl=1*jyqhh7*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMTQxOTczNy4zOTIuMS4xNzMxNDE5NzcxLjI2LjAuMA..&amp;utm_medium=ingest&amp;utm_source=markets">Tesla</a> and shares of banks expected to benefit from deregulation and tax cuts.

Non-US stocks have seen their sharpest sell-off since August on fears over Trump's tariffs

<keyword id="19995882" type="General" weightage="100" keywordseo="Berkshire-Hathaway" source="keywords" meta.keywordsubtype="org" meta.entityname="Berkshire Hathaway" meta.hostid="261" meta.entityid="Berkshire Hathaway">Berkshire Hathaway</keyword> Inc., the conglomerate led by American Businessman <keyword id="19921921" type="General" weightage="20" keywordseo="Warren-Buffett" source="keywords">Warren Buffett</keyword>, has made history by becoming the first U.S. non-tech company to surpass the USD <keyword id="6852179" type="General" weightage="20" keywordseo="1-trillion" source="Orion">1 trillion</keyword> mark in <keyword id="20000950" type="General" weightage="20" keywordseo="market-capitalisation" source="keywords">market capitalisation</keyword>. The <keyword id="19998639" type="General" weightage="20" keywordseo="stock-price" source="keywords">stock price</keyword> of Berkshire Hathaway surged by USD 3.96 on the New York Stock Exchange, closing at USD 464.59 per share on Wednesday. With this milestone, Berkshire Hathaway joins an exclusive group of six other companies, primarily from the <keyword id="19896148" type="General" weightage="20" keywordseo="technology-sector" source="keywords">technology sector</keyword>, that have crossed the USD 1 trillion threshold. This list includes Apple, Nvidia, Microsoft, Alphabet (the parent company of Google), Amazon, and Meta Platforms (the parent company of Facebook). The stocks of Berkshire Hathaway have seen significant growth this year, appreciating by more than 28 per cent on the New York Stock Exchange. Despite this achievement, the broader U.S. stock markets faced a downturn on Wednesday. Both the S&amp;P 500 and the Nasdaq indices declined, largely due to profit-taking by investors. This market pressure in the U.S. had a ripple effect across Asian markets, where major indices also faced selling pressure on Thursday morning. In Asia, Japan's Nikkei index fell by 0.45 per cent, while Hong Kong's Hang Seng index declined by 0.55 per cent. Taiwan's Taiwan Weighted Index emerged as the largest loser among the major Asian markets, dropping by 1.32 per cent. In the Indian markets on Wednesday, the Nifty 50 index at the National Stock Exchange (NSE) touched a record new lifetime high of 25,114.05 during the trading. The sectoral stocks of IT contributed the most to the fresh lifetime high ever of Nifty. Rate cut hopes in the US and subsequent buying from foreign portfolio investors supported the market. The sectoral index of IT was trading with a lead of 1.96 per cent with stocks of major <keyword id="20062339" type="General" weightage="20" keywordseo="IT-companies" source="keywords">IT companies</keyword> such as LTIMindtree, Wipro, and Infosys are trading as the biggest gainers in the trade. <keyword id="19925636" type="General" weightage="20" keywordseo="stock-market" source="keywords">Stock market</keyword> opened nearly flat on Wednesday with Nifty starting above 25,000 and BSE Sensex opening at 81,800. Over the past few trading sessions, the Nifty was in the tight range despite the positive global cues. "Finally it has broken through to fresh all-time highs. This opens up possibilities for a strong upmove now. Sector-wise, domestic cyclicals will lead the way while IT is coming back in favour of selective name," said Ajay Bagga, Market and Banking expert.

Warren Buffett-led Berkshire Hathaway becomes first non-tech US company to cross USD 1 trillion market cap

<ul class="summary-list"><li>"Red One" cost $250 million to make and grossed $34 million in North America on its opening weekend.</li><li>That doesn't mean "Red One" is a failure.</li></ul>"Red One," starring Chris Evans,<a target="_blank" href="https://www.businessinsider.com/dwayne-johnson-bigger-than-will-smith-and-george-clooney-2024-11"> Dwayne Johnson</a>, and Lucy Liu, <a target="_blank" class="" href="https://deadline.com/2024/11/box-office-red-one-dwayne-johnson-chris-evans-1236177871/">reportedly cost $350 million</a> to make and market — and grossed<a target="_blank" href="https://markets.businessinsider.com/news/stocks/box-office-battle-christmas-movie-red-one-wins-weekend-with-34m-1034027672"> $34 million</a> in North America in its opening weekend.Alongside the $50 million it has made since premiering internationally on November 6, the action comedy — in which the head of North Pole security teams up with a hacker to save Santa from kidnappers — has so far made $84 million.This may sound disappointing for a film featuring actors from billion-dollar franchises — particularly as "Red One" will have to compete with "Wicked and "<a target="_blank" href="https://www.businessinsider.com/gladiator-2-review-2024-11">Gladiator 2</a>" from Friday, and "Moana 2" from next week in the run up to Christmas. But media experts told Business Insider that Amazon MGM could still profit from "Red One" and likely won't view it as a failure.Of all the non-IP releases this year, "Red One" made the most in its opening weekend, beating "If," "Civil War," and "<a target="_blank" href="https://www.businessinsider.com/bob-marley-one-love-cast-vs-real-life-photos-2024-2">Bob Marley: One Love</a>."Rob Mitchell, the director of theatrical insights at film industry research firm Gower Street Analytics, told BI that analysts predicted "Red One" would make roughly $34 million in its opening weekend, similar to<a target="_blank" href="https://www.businessinsider.com/dwayne-the-rock-johnson-movies-ranked-from-worst-to-best-2020-4"> Johnson's other films</a> "Jungle Cruise," "Rampage," "Central Intelligence," and "Jumanji: Welcome To The Jungle." Not turning a profit in theaters seems to have been the plan all along. Amazon MGM hopes the theatrical release will generate buzz for the film before it lands on Amazon Prime Video, <a target="_blank" class="" href="https://variety.com/2024/film/box-office/red-one-box-office-opening-weekend-disappoints-dwayne-the-rock-johnson-1236212370/">Variety reported on Sunday</a>. "Red One" received an A- CinemaScore and has a Rotten Tomatoes audience score of 90%. Positive word of mouth could attract new subscribers and in turn more viewers who watch ads, which is how Amazon MGM would recoup its investment in "Red One," Matthias Frey, the head of the Department of Media, Culture, and Creative Industries at City, University of London, told BI.It's unclear when "Red One" will be released on Prime Video and Amazon does not release viewership numbers for all of its releases, so we may never know how well it performs."No doubt if this bet does not pay off, there could be reluctance in future to repeat, as reported, paying a star like Johnson $50 million for his involvement," Frey said. Variety reported that Johnson was paid $30 million for "Red One," but could earn $50 million from profits.<h2 id="ba30f6d7-a30c-4c35-9278-096963bf841c">Amazon doesn't need to make hundreds of millions of dollars at the box office for 'Red One' to be a success</h2><div type="image" title="A still of &quot;Red One&quot; showing a monster squaring up to Dwayne Johnson." height="2000" width="2667" msid="115427142" hostid="261" sizebytes="485212"></div>"Red One" was initially going to premiere on Amazon Prime Video, but Amazon MGM later pivoted to a theatrical release.In recent years, Amazon, Netflix, and AppleTV+ have given their most high-profile titles such as "Hit Man," "<a target="_blank" href="https://www.businessinsider.com/what-nike-veterans-say-air-gets-right-and-wrong-jordan-2023-4">Air</a>," and "Killers of the Flower Moon" short theatrical releases to build hype and make them eligible for awards.Kevin Wilson, the head of theatrical distribution at Amazon MGM, told Variety on Sunday that the theatrical release of "Red One" could cover its marketing (print and advertising) costs."We're getting a massive marketing campaign that's being paid for before the film gets to streaming," he said.<div type="image" title="dwayne johnson and chris evans in red one" height="1440" width="2214" msid="115427136" hostid="261" sizebytes="174960"></div>What could harm Amazon more than losing money at the box office are reports that "Red One" has flopped in theaters, because Prime Video is a tool for Amazon to attract consumers to its other services, Jezz Vernon, a London-based film producer and a senior lecturer in film and industry studies at the University of Exeter, UK, told BI. "If Prime Video is essentially an elaborate (and highly effective) branding exercise, then the logic requires pairing the service with positive stories, commercial success, good critical response," he said.<h2 id="a98ddae0-ef5e-4226-a02f-a927b3d48375">There's hope yet for 'Red One' </h2><div type="image" title="paul mescal as lucius in gladiator two. he's crouching on the dirt floor of the colosseum, his sword stuck in the ground, as he rubs dirt between his hands" height="3576" width="5400" msid="115427140" hostid="261" sizebytes="857896"></div>Mitchell said more people might embrace "Red One" once the <a target="_blank" class="" href="https://www.businessinsider.com/netflix-original-christmas-movies-ranked-2018-12">festive season</a> is in full swing.The total profit that "Red One" will make in theaters now depends on cinemas continuing to screen it despite what is, wrongly or rightly, being viewed as a disappointing performance at the box office. And if audiences think "Red One" will come to Amazon Prime Video during Christmas, they may choose "<a target="_blank" href="https://www.businessinsider.com/wicked-cast-red-carpet-looks-ranked-ariana-grande-cynthia-erivo-2024-11">Wicked</a>," "Moana 2," and "Gladiator 2" instead.

'Red One' made $34 million on a $250 million budget on its first weekend. That sounds bad — but Amazon MGM never planned to make its profit in theaters.

<ul class="summary-list"><li>Earnings likely grew for the fifth consecutive quarter in Q3.</li><li>Top strategists are eyeing 2025 results ahead of what's likely a mid-single-digit advance.</li></ul>Corporate earnings are on pace for their best non-pandemic year since 2018, and market strategists expect the party to continue in the upcoming earnings season and into 2025.Interest rates and inflation have been investors' primary concerns this year, and <a target="_blank" href="https://www.businessinsider.com/labor-market-indicators-recession-warning-signs-bca-research-berezin-2024-9">worries about the labor market</a>, <a target="_blank" href="https://www.businessinsider.com/economy-jobs-report-sentiment-consumers-elections-recession-inflation-mortgage-rates-2024-9">growth</a>, and <a target="_blank" href="https://www.businessinsider.com/rates-pandemic-lows-inflation-supply-chain-geopolitical-bofa-mensah-2024-10">rising geopolitical tensions</a> have also sucked up plenty of oxygen — even though economists generally agree that a recession isn't imminent.Through all that noise, S&amp;P 500 profits have steadily risen and are set to end the year up 9.5%, <a target="_blank" class="" href="https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/EarningsInsight_092724.pdf">according to Factset</a>. That's the biggest jump for earnings in six years, other than 2021's robust recovery. Analysts believe 2025 will be even better, with growth of nearly 15% in the cards.<div type="image" title="2024 earnings as of Q2" height="822" width="1424" msid="113984264" hostid="261" sizebytes="55446"></div>Business Insider spoke with six investment chiefs, strategists, and money managers about the earnings and economic trends to watch in the Q3 earnings season and 2025 — plus how investors can position their portfolios for success.<h2 id="cb45912e-0004-415b-94ba-d8fc7736b77e">Q3 earnings will give clues about consumers</h2>Barring a major surprise, investors will learn starting in mid-October that earnings rose for the fifth straight quarter. Profits grew 4.6% in Q3, <a target="_blank" class="" href="https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/EarningsInsight_092724.pdf">according to Factset's latest projections</a>, though that would be down substantially from the 7.8% mark that analysts called for at the end of June.However, analysts have a <a target="_blank" href="https://www.chicagobooth.edu/review/why-do-analysts-low-ball-earnings-forecasts">habit of underselling earnings</a>. Nearly 79% of S&amp;P 500 firms beat Q2 estimates — partially due to a low bar, though results were quite strong at 11.2% growth.<div type="image" title="Factset beat rate Q2 2024" height="822" width="1424" msid="113984261" hostid="261" sizebytes="37156"></div>"What we've seen over the past few quarters, I really wouldn't describe as 'blowout growth' that sets up for disappointment going forward," said Mike Reynolds, Glenmede's vice president of investment strategy. Mid-single-digit to low-double-digit growth is "pretty sustainable," he added.<div type="image" title="Factset Q2 2024" height="822" width="1424" msid="113984259" hostid="261" sizebytes="29018"></div>Profit margins will be in the crosshairs since <a target="_blank" href="https://www.businessinsider.com/inflation-august-consumer-price-index-federal-reserve-rate-cuts-2024-9">inflation is slowing</a>, said Anthony Saglimbene, the chief market strategist at Ameriprise Financial. He's also keeping a close eye on signs about the strength of consumer spending, or lack thereof, <a target="_blank" href="https://www.businessinsider.com/inflation-wage-growth-investing-strategy-stocks-to-buy-goldman-sachs-2024-9">as wage growth dissipates</a>."There's been a lot of pricing power — not only in technology, but across a lot of the services and goods sides of the equation," Saglimbene said. "Can you hold profit margins in an environment where maybe your costs are becoming more stable, but demand is starting to slow?"Demand is either softening or steadfast, depending on your perspective. Joe Quinlan — who's head of markets strategy at Merrill and Private Bank, Bank of America — recently remarked that there's a strikingly wide gap between high-income households and those who aren't well off.The strategy chief recently wrote that a mere 4.4% of US households make up 15% of personal consumption, which is the <a target="_blank" href="https://fred.stlouisfed.org/series/DPCERE1Q156NBEA">backbone of GDP</a>. The rich are disproportionately driving economic growth because of the wealth effect, which means they're confident since stocks are rising. Meanwhile, Quinlan noted that <a target="_blank" href="https://news.gallup.com/poll/266807/percentage-americans-owns-stock.aspx">roughly 40% of US households don't own stocks</a>."They're the ones — the lower-income households — definitely feeling the squeeze of higher prices. I know inflation has come down when we look at the metrics, but prices for food, rent, insurance — they're still elevated," Quinlan said, adding that this is limiting disposable income.Although weakness among lower-income households is troubling, strategists don't think it will show up in corporate earnings since consumers broadly are holding up."The consumer is pretty healthy," Reynolds said. "There's maybe some warning signs on the margin on credit-card balances and delinquencies, but it's really not enough to break the camel's back on earnings."<h2 id="e9ed5200-3a27-426c-b63a-a65a628a84e6">Why earnings will thrive in 2025</h2>Although investors have only seen about half of 2024 earnings, which are on track to rise 10%, it's already time to look to 2025."As the year continues, I do think it's not about earnings for this year — it's the trajectory of earnings for next year," said Andrew Slimmon, a lead portfolio manager at Morgan Stanley Investment Management.<div type="image" title="Factset 2024 earnings" height="822" width="1424" msid="113984262" hostid="261" sizebytes="29164"></div>Corporate profits should stay strong and can potentially improve, strategists say, provided that the US economy doesn't slow too much."If the macroeconomic picture holds together, there's an expectation that we should see a bit of a re-acceleration in earnings growth," said Jim Baird, chief investment officer at Plante Moran Financial Advisors.Quinlan agrees and predicted that "earnings will reflect the dynamic and resiliency of the US economy that we just closed the quarter on."Michael Smith, the head of the growth equity team at Allspring Global Investments, said his research also indicates that companies are healthy, at least compared to a few years ago."We talk to our companies quite frequently and do our own work talking to their customers and suppliers, and we really feel like there are still some pockets of strong demand through our economy," Smith said.And even if economic growth comes in light, corporate earnings won't necessarily suffer."There's not always a one-for-one relationship between economic growth and earnings growth," Reynolds said. "You can still see earnings growth at a pretty robust level, even if economic growth moderates to some extent. So again, there's correlation there, but definitely not direct causation."Bears have <a target="_blank" href="https://www.businessinsider.com/stock-market-crash-bubble-sp500-outlook-valuations-1929-2000-hussman-2024-9">long warned that this market is overvalued</a>, but unless earnings suddenly plummet, Slimmon suggested that those fears are overstated."As long as Q3 of this year is OK, I think that's where we're going to start next year with close to $280 earnings estimates for the S&amp;P," Slimmon said. "And that is supportive of a stock market that trades kind of closer to 6,000."Analysts' estimates may be ambitious, Saglimbene said. He suspects that Q4 expectations will recede alongside projections for Q1 and Q2 of 2025, though that often happens before quarters."That could be a little bit of a headwind for the market," Saglimbene said. "But again, if we're growing and profits are growing year-over-year, I think the market will look past some of that."Saglimbene later added: "We might not grow by 15% next year in an environment where the economy's growing 2%, but we might grow 7% or 8%. That's a normal earnings growth kind of environment, and I think that's enough to continue to push the market higher."<h2 id="06369d93-53a3-422f-8a02-436b2da92292">3 top places to invest heading into Q3 earnings</h2>When asked which parts of the market look most attractive, strategists consistently identified three sectors: communication services, healthcare, and technology.Large-cap growth stocks have carried the market higher for years thanks to their supercharged earnings. But that has changed in recent months, Saglimbene noted.The strategy chief expects to see broader profit growth, especially in economically sensitive sectors like consumer discretionary, financials, industrials, materials, and real estate. They may also have more upside since they're cheaper."The areas that have not seen the best profit growth, like cyclicals outside of technology, their profit growth trends could actually improve more than expected because the economy is not headed for recession, because growth is remaining positive, because consumers are still spending," Saglimbene said.Smith agrees that industrials and consumer-focused sectors are worth a look, as are tech and healthcare companies. His investing strategy is centered around finding growth stocks on the so-called "right side of change" that also happen to be discounted. He said he's found more opportunities in small- and <a target="_blank" href="https://www.businessinsider.com/stocks-to-buy-2025-mid-caps-investing-outlook-goldman-sachs-2024-9">mid-sized stocks</a> lately."Money has to find a home somewhere, and it tends to flow to where it gets treated the best," Smith said. "Right now, the relative opportunity is down-cap."

Here's how to invest in the Q3 earnings season as profits re-accelerate despite misplaced recession myths

Private sector <keyword id="19945702" type="General" weightage="100" keywordseo="rbl-bank" source="keywords">RBL Bank</keyword> on Friday reported an 11% increase in its profit to Rs 233 crore in the third quarter ended in December 2023. The bank had earned a net profit of Rs 209 crore in the same quarter a year ago. Total income increased to Rs 3,969 crore during the quarter under review against Rs 3,116 crore in the same period last year, RBL Bank said in a regulatory filing. Interest income of the bank also improved to Rs 3,191 crore during the quarter compared to Rs 2,498 crore in the same period a year ago. The bank's gross <keyword id="19927319" type="General" weightage="20" keywordseo="non-performing-assets" source="keywords">Non-Performing Assets</keyword> (NPAs) declined to 3.12% of the total loans at the end of December 2023 from 3.61% a year ago. Net NPAs or bad loans also came down to 0.80% from 1.18% at the end of the third quarter of the previous fiscal.

RBL Bank Q3 profit rises 11% to Rs 233 crore

<ul class="summary-list"><li>This is an excerpt from the Insider Today newsletter.</li></ul>OpenAI is open to some changes.The world's most high-profile startup is reportedly looking to restructure itself into a for-profit benefit corporation, ending control of the company by its non-profit board.The process would also include <a target="_blank" href="https://www.businessinsider.com/open-ai-sam-altman-equity-stake-valuation-private-nonprofit-9">giving equity to CEO Sam Altman</a>, who currently holds no stake in the startup poised to be <a target="_blank" href="https://www.businessinsider.com/openai-fundraising-150-billion-valuation-new-funding-round-altman-thrive-2024-9">valued at $150 billion</a>. Altman could reportedly receive a 7% equity stake, which would be worth about $10.5 billion at OpenAI's new valuation.But wait, there's more!News of the potential restructuring followed OpenAI CTO Mira Murati <a target="_blank" href="https://www.businessinsider.com/mira-murati-openai-cto-leaving-executive-memo-staff-2024-9">announcing her departure from the startup</a>. The Tesla alum spent over six years at OpenAI, including a brief stint as interim CEO during the failed Altman ouster last November. Employees reportedly reacted to the news by posting <a target="_blank" rel="noopener noreferrer" href="https://www.businessinsider.com/openai-talent-exodus-joke-tech-world-mira-murati-sam-altman-2024-9">a "WTF" emoji on Slack</a>.In March, The New York Times reported Murati <a target="_blank" href="https://www.businessinsider.com/openai-cto-mira-murati-concerns-sam-altman-ouster-nyt-2024-3">raised concerns about Altman's leadership style to the board</a> before the ouster. However, Murati's lawyer said at the time the Times' reporting on her involvement in forcing out Altman was "flat wrong."And Murati wasn't the only executive exit announced on Wednesday. Barret Zoph, the company's vice president of research, and Bob McGrew, OpenAI's chief research officer, are also departing the startup, <a target="_blank" href="https://www.businessinsider.com/sam-altman-openai-note-more-staff-exits-barret-bob-2024-9">Altman announced on X</a>.OpenAI's leadership ranks have faced significant changes in the almost year since the board attempted to push Altman out. Many of OpenAI's C-level executives have departed. Meanwhile, the firm <a target="_blank" href="https://www.businessinsider.com/meet-the-power-players-at-openai-2024-9">has gone on a hiring spree in other areas</a>, including non-tech roles in legal and lobbying.But such is life at OpenAI, which one VC investor described to Business Insider's Lakshmi Varanasi as "the most fascinating and the most terrifying company of our times."It's a point that even Altman somewhat acknowledged in a memo to staff detailing the departures."I obviously won't pretend it's natural for this one to be so abrupt, but we are not a normal company," Altman wrote.<div type="image" title="Sam Altman against a black background." height="960" width="1920" msid="113706244" hostid="261" sizebytes="229928"></div>OpenAI's shakeup is occurring <a target="_blank" rel="noopener" href="https://www.businessinsider.com/openai-challenges-mira-murati-departure-c-suite-ai-dominance-2024-9">as the AI race comes into focus</a>.Some of OpenAI's biggest competitors — Alphabet, Amazon, Meta — also happen to be among the most valuable companies in the world. And with the high cost of AI development — from the hardware to the talent — having deep pockets matters.So it's no surprise that OpenAI would want to make itself as attractive as possible to potential investors to ensure the cash keeps flowing in. According to Reuters, which broke the news, OpenAI's new structure would resemble how rival startups Anthropic and Elon Musk's xAI are set up. (Musk, by the way, <a target="_blank" rel="noopener" href="https://www.businessinsider.com/elon-musk-diss-sam-altman-over-openais-high-profile-exits-2024-9">was happy to take a jab at Altman</a> over the latest executive exits.)But considering OpenAI was built on the premise investors wouldn't influence it, the move will likely still raise eyebrows. Altman, for his part, responded to a question in Congress about his lack of equity back in 2023 by saying he was "doing this because I love it."Of course, wanting to profit from your work isn't a crime. But OpenAI's pivot is another example of how what it presents to the public doesn't always seem to jive with what it looks to do in private.

From passion to profit: OpenAI's latest shakeup shows the AI race is about who has the deepest pockets

India Infrastructure Finance Company Ltd (IIFCL) on Wednesday reported a 44 per cent jump in standalone <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword> to Rs 1,552 crore for the fiscal ended March 2024 aided by an increase in <keyword id="20107418" type="General" weightage="20" keywordseo="lending" source="keywords">lending</keyword> and moderation in <keyword id="19936329" type="General" weightage="20" keywordseo="bad-loans" source="keywords">bad loans</keyword>. The state-owned infrastructure finance company had earned a net profit of Rs 1,076 crore in the previous fiscal. The company recorded the <keyword id="20025887" type="General" weightage="20" keywordseo="highest-ever" source="keywords">highest-ever</keyword> profit, recovery, sanction and disbursement furthering turnaround performance that began three years ago, IIFCL managing director PR Jaishankar said while announcing annual financial numbers. He said, for the first time, the profit before tax has crossed Rs 2,000 crore. During the year, profit before tax has increased to Rs 2,029 crore as against Rs 1,076 crore in the previous year. The company continued to add value as its net worth increased 11 per cent to Rs 14,266 crore in 2023-24 from Rs 12,878 crore in the preceding fiscal. During the year, he said, the company posted record performance with the highest-ever sanctions and disbursements at Rs 42,309 crore and Rs 22,356 crore, respectively. The cumulative sanctions and disbursements stood at Rs 2.5 lakh crore and Rs 1.28 lakh crore, respectively, as of March 31, 2024. Going forward, he said, the company has significant scope to further improve loan growth and expects to grow at 16-18 per cent. To fund business growth, he said the company plans to raise over Rs 30,000 crore during the current financial year. With regard to asset quality, IIFCL has brought down gross Non-Performing Assets (NPAs) to 1.61 per cent from 4.76 per cent a year ago. The net NPA of the company too declined to 0.46 per cent from 1.41 per cent in the year-ago period. During the current year, he said, the net NPA would be either zero or nearly zero. The Provision Coverage Ratio (PCR) in the last fiscal increased to 71.51 per cent from 70.48 per cent, Jaishankar said. IIFCL has funded close to 760 infra projects worth Rs 14 lakh crore till March 2024. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/virat-kohli-backed-go-digit-ipo-subscription-opens-today-all-you-need-to-know/slidelist/110137661.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/virat-kohli-backed-go-digit-ipo-subscription-opens-today-all-you-need-to-know/slidelist/110137661.cms" target="_blank">Virat Kohli-backed Go Digit IPO subscription opens today — all you need to know</a><a href="https://www.businessinsider.in/business/auto/news/tvs-iqube-gets-a-new-variant-priced-under-1-lakh-st-variant-gets-a-bigger-battery/articleshow/110121391.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/tvs-iqube-gets-a-new-variant-priced-under-1-lakh-st-variant-gets-a-bigger-battery/articleshow/110121391.cms" target="_blank">TVS iQube gets a new variant priced under ₹1 lakh, ST variant gets a bigger battery</a><a href="https://www.businessinsider.in/tech/mobile/news/qualcomm-snapdragon-8s-gen-3-chipset-to-debut-in-india-with-the-poco-f6/articleshow/110115537.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/qualcomm-snapdragon-8s-gen-3-chipset-to-debut-in-india-with-the-poco-f6/articleshow/110115537.cms" target="_blank">Qualcomm Snapdragon 8s Gen 3 chipset to debut in India with the Poco F6</a>

IIFCL profit rises 44% to highest-ever of ₹1,552 crore in FY24

<ul class="summary-list"><li>Mark Cuban blasted Donald Trump for advertising limited-edition silver coins to his followers.</li><li>He said the ex-president clearly wasn't committed to bitcoin and was promoting bad investments.</li></ul>Mark Cuban has called out Donald Trump for promoting collectible silver coins, saying it shows he's not all in on bitcoin or above persuading people to make bad investments as long as he profits.In an X post On Saturday, the tech billionaire shared the Republican presidential candidate's promotional video for Official Trump Coins, in which Trump hailed them as a "true symbol of American greatness.""I guess he doesn't believe in btc [bitcoin'] quite as much as the <a target="_blank" class="" href="https://www.businessinsider.com/bitcoin-price-michael-saylor-microstrategy-ceo-traders-maximalists-digital-property-2022-4">Maxis</a> told him to," Cuban wrote, nodding to Trump's <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-going-for-crypto-bro-vote-world-liberty-financial-2024-9">public embrace</a> of the most popular cryptocurrency in recent weeks."He is selling the <a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/robert-kiyosaki-rich-poor-dad-silver-bonds-stock-market-crash-2022-8">silver coins</a> as a collectible that could increase in value …. An investment," the "Shark Tank" star and Dallas Mavericks minority owner said in a later post. "Would a Maxi tell any human on the planet to buy a silver minted coin as an investment over bitcoin ?"People have turned to silver for centuries as a store of value and a <a target="_blank" class="" href="https://www.businessinsider.com/non-gold-safe-haven-assets-2012-10#rare-coins-13">haven asset</a> that fares better than cash against inflation, currency depreciation, political upheaval, and other threats.However, some investors like Warren Buffett have <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/why-warren-buffett-unhappy-berkshire-hathaway-record-137-billion-cash-2020-4">warned</a> precious metals like silver are riskier and less lucrative bets than productive assets like businesses that can grow and yield income.<h2 id="1f3f60fd-ae6d-4533-9034-2b0ea15c1c47">Silver tongue</h2>The Trump coins are minted in the US and stamped with the image of the former president on one side and the White House on the other, according to the official website, realtrumpcoins.com.They contain one Troy ounce of 99.9% fine silver and cost $100 — more than triple the going price for the metal. They're shipped in a custom felt bag and come with a certificate of authenticity.The coins are manufactured and distributed by JBCZ Group under license from CIC Digital, the same entity that licenses out the rights to make Trump-branded <a target="_blank" class="" href="https://www.businessinsider.com/trump-nfts-digital-cards-mahattan-trial-2024-5">non-fungible tokens</a> that act as digital trading cards. Meanwhile, CIC Ventures offers a <a target="_blank" class="" href="https://www.businessinsider.com/trump-products-for-sale-list">Trump sneaker line</a>. Both CIC entities are fully owned by Trump's <a target="_blank" class="" href="https://www.businessinsider.com/penthouse-owned-by-trumps-trust-lists-for-35-million-2017-3">revocable trust</a>, which counts him as its sole beneficiary.The website description of the coins says they're "intended as collectible items for individual enjoyment, and not for investment purposes" and "the coins are not political and have nothing to do with any political campaign."Despite those disclaimers, Cuban accused Trump — who's navigating several costly legal cases — of selling an inferior investment to his fans to make a quick buck. He also suggested Trump's endorsement of the coins means he can't be trusted as a business partner or investor."Would you consider a person pushing this illiquid product , rather than btc, eth, real estate or other liquid assets, someone you can trust for investment advice ?" Cuban asked on X.He continued: "Would you tell ANYONE you know to get business or investment advice from a person selling these coins?"Cuban has <a target="_blank" class="" href="https://www.businessinsider.com/mark-cuban-kamala-harris-donald-trump-economic-plans-2024-8">repeatedly criticized</a> Trump in recent weeks while championing Vice President Kamala Harris, Trump's rival in this year's presidential race.He's <a target="_blank" class="" href="https://www.businessinsider.com/mark-cuban-says-trump-most-unethical-person-ever-business-2024-9">slammed</a> the real-estate mogul as "unethical" and "dishonest," <a target="_blank" class="" href="https://www.businessinsider.com/mark-cuban-donald-trump-tariffs-inflation-trade-war-small-business-2024-9">warned</a> his plan to enact sweeping tariffs would sting even the smallest American businesses, and <a target="_blank" class="" href="https://www.businessinsider.com/mark-cuban-donald-trump-i-dont-hate-him-at-all-2024-9">warned</a> he would be a "lousy president."JBCZ Group, the Trump campaign, and the Trump Organization didn't immediately respond to requests for comment from Business Insider.

You Searched For "NON PROFIT" and got 11 results

HDFC Bank Q2 profit soars 5% to ₹16,821 crore

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Non-US stocks have seen their sharpest sell-off since August on fears over Trump's tariffs

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'Red One' made $34 million on a $250 million budget on its first weekend. That sounds bad — but Amazon MGM never planned to make its profit in theaters.

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Here's how to invest in the Q3 earnings season as profits re-accelerate despite misplaced recession myths

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RBL Bank Q3 profit rises 11% to Rs 233 crore

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Mark Cuban slams Trump's new silver coins as a bitcoin betrayal and an attempt to profit from his supporters

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