Axis Bank Shares Tumble as Provisions Climb, Profit Disappoints
The stock declined as much as 7.4% in Mumbai trading — the most since June 2024 — as the disappointing results prompted rating downgrades from JPMorgan Chase & Co. and Nuvama Wealth Management Ltd., along with a raft of cuts to 12-month forward price targets by brokerages.
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38 minutes ago
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How much should a 40-year-old invest in an ISA to earn a monthly passive income of £1,000
One of my favourite ways to target future passive income is by investing in shares. More specifically, investors can make use of tax wrappers like a Stocks and Shares ISA, or SIPP, to achieve future income. Within these, it's possible to own a range of managed funds, exchanged-traded funds (ETFs), or individual shares. Please note that tax treatment depends on the individual circumstances of each client and may be subject to change in future. The content in this article is provided for information purposes only. It is not intended to be, neither does it constitute, any form of tax advice. Readers are responsible for carrying out their own due diligence and for obtaining professional advice before making any investment decisions. Targeting £1,000 of monthly passive income If an investor wanted to target a £1,000 monthly income, that equates to £12,000 a year. A commonly used withdrawal rate of 4% means that this investor would need a pot worth £300,000. That might sound like a chunky sum to save, but when broken down over many years, it's far more manageable. For instance, I calculate that a 40-year-old would just need to invest £500 a month over 20 years to build such a pot. Some eagle-eyed readers might note that this just adds up to a total investment of £120,000. That's because I'd expect the remaining £180,000 to appear from investment gains over time. The assumption here is that it grows by 8% a year. And given long-term investment returns have been around 8%-10%, I think that's a reasonable assumption to make. Of course, by targeting greater returns (and accepting greater risk), an investor could reach their goal far quicker. One way that I aim to do that is by selecting individual shares and holding them for many years. Rewards from long-term investing One such FTSE 100 share that I've owned for several years is Games Workshop (LSE:GAW). Its share price has soared by over 1,200% since I first bought it back in 2017. If an investor had spent £500 a month on just this share since then, they'd be sitting on a pot worth over £210,000 already. That's a phenomenal achievement in just eight years. It would also likely result in a much earlier passive income than planned. But there are a few things to bear in mind. First, I would never suggest that anyone invest everything in one stock! Second, Games Workshop wasn't large enough to be in the FTSE 100 back in 2017. It was a much smaller business. Smaller companies can often grow much faster than giant, mature businesses. As UK small-cap investor Jim Slater famously quipped, 'elephants can't gallop'. It also traded at a much lower price to earnings ratio. Today, it hovers around 30, but back in 2017 it traded as low as 10 times earnings. It's not as cheap as it used to be. Still a great business Looking ahead, I still consider Games Workshop to be a high-quality business with ample potential. It operates in a niche market that is difficult to replicate. That gives it a competitive advantage. In turn, it earns a chunky double-digit profit margin and an incredible 70% return on capital employed. In recent years it has partnered with Amazon to bring some of its vast character universe to movies and TV shows. And this licencing revenue has much more room to grow in my opinion. A long-term investor could consider this and similar prospects. And although much can go wrong with individual shares, by selecting a diversified group of 10-20 names, it would spread the risk. The post How much should a 40-year-old invest in an ISA to earn a monthly passive income of £1,000 appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool The Motley Fool UK has recommended Games Workshop Group Plc. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Harshil Patel owns shares in Games Workshop. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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42 minutes ago
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CEO of Russia-backed Indian refiner Nayara resigns after EU sanctions, sources say
(Refiles to fix formatting) By Nidhi Verma NEW DELHI (Reuters) -Russia-backed Indian refiner Nayara Energy has named a new chief executive after its previous CEO resigned following European Union sanctions that targeted the company, four sources with knowledge of the matter said on Friday. The reshuffle at the top is the latest disruption for the company since the EU announced a new round of sanctions last Friday directed at Russia over its war in Ukraine. This week, a tanker carrying Russian Urals crude was diverted away from Nayara's Vadinar port to unload its cargo at another port in western India, Reuters reported. That came after two other tankers skipped loading refined products from Vadinar, Reuters reported. Mumbai-based Nayara has appointed company veteran Sergey Denisov as chief executive to replace Alessandro des Dorides, the sources said. Denisov's appointment was decided at a board meeting on Wednesday, they said. Nayara Energy did not immediately respond to a request for comment. Des Dorides, who joined Nayara Energy in April 2024, for a three-year term, did not immediately respond to a message sent on LinkedIn. In its announcement of his appointment last year, Nayara described Des Dorides as a 24-year veteran of the energy industry. He left Italian major Eni in 2019 after about six months as head of oil trading and operations. Denisov has been with Nayara since 2017. His LinkedIn profile describes him as Nayara's chief development officer. In recent days, Nayara's website has no longer carried pages listing its leadership. The company is one of India's two major private-sector refiners, along with the larger Reliance Industries. The pair have been India's biggest buyers of discounted Russian crude. Nayara, which operates India's third-biggest refinery at Vadinar in western Gujarat state, typically exports at least four million barrels of refined products per month, including diesel, jet fuel, gasoline and naphtha. It also operates more than 6,000 fuel stations. The 400,000 barrels per day (bpd) Vadinar refinery is equivalent to nearly 8% of India's total refining capacity of about 5.2 million bpd. Nayara Energy has criticised the EU's "unjust and unilateral" decision to impose sanctions. Russia's Rosneft holds a 49.13% stake in Nayara and a similar stake is owned by a consortium, Kesani Enterprises Co Ltd, led by Italy's Mareterra Group and Russian investment group United Capital Partners, according to a 2024 note by India's CARE Ratings agency. India, which has become the top importer of seaborne Russian oil in the aftermath of Moscow's Ukraine invasion, has also criticised the EU's sanctions. Rosneft, which said the sanctions on Nayara were unjustified and illegal, did not immediately respond to a request for comment.
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China Premier Warns of AI ‘Monopoly' as US Effort Quickens
(Bloomberg) — China will spearhead the creation of an international organization to jointly develop AI, the country's premier said, seeking to ensure that world-changing technology doesn't become the province of just a few nations or companies. Trump Awards $1.26 Billion Contract to Build Biggest Immigrant Detention Center in US The High Costs of Trump's 'Big Beautiful' New Car Loan Deduction Can This Bridge Ease the Troubled US-Canadian Relationship? Trump Administration Sues NYC Over Sanctuary City Policy Artificial intelligence harbors risks from widespread job losses to economic upheaval that require nations to work together to address, Premier Li Qiang told the World Artificial Intelligence Conference in Shanghai on Saturday. That means more international exchanges, Beijing's No. 2 official said during China's most important annual technology summit. Li didn't name any countries in his short address to kick off the event. But Chinese executives and officials have taken aim at Washington's efforts to curtail the Asian country's tech sector, including by slapping restrictions on the export of Nvidia Corp. chips crucial to AI development. On Saturday, Li acknowledged a shortage of semiconductors was a major bottleneck, but reaffirmed President Xi Jinping's call to establish policies to propel Beijing's ambitions. The government will now help create a body — loosely translated as the World AI Cooperation Organization — through which countries can share insights and talent. 'Currently, key resources and capabilities are concentrated in a few countries and a few enterprises. If we engage in technological monopoly, controls and restrictions, AI will become an exclusive game for a small number of countries and enterprises,' Li told hundreds of delegates huddled at the conference venue on the banks of Shanghai's iconic Huangpu river. China and the US are locked in a race to develop a technology with the potential to turbocharge economies and — over the long run — tip the balance of geopolitical power. This week, US President Donald Trump signed executive orders to loosen regulations and expand energy supplies for data centers — a call to arms to ensure companies like OpenAI and Google help safeguard America's lead in the post-ChatGPT era. At the same time, the breakout success of DeepSeek has inspired Chinese tech leaders and startups to accelerate research and roll out products such as open-sourced models, robots and AI agents. That parade of technology represents Chinese developers' efforts to set world standards and benchmarks, and grab a bigger slice of the global market. They also dovetail with Beijing's broader efforts to ensure self-reliance on critical technologies in the face of tensions between the world's economic superpowers. The weekend conference in Shanghai — gathering star founders, Beijing officials and deep-pocketed financiers by the thousands — is designed to catalyze that movement. The event, which has featured Elon Musk and Jack Ma in years past, was launched in 2018 to showcase China's cutting-edge technology. This year's attendance may hit a record because it's taking place at a critical juncture in the global race to lead the development of generative AI. It's already drawn some notable figures: Nobel Prize laureate Geoffrey Hinton and former Google chief Eric Schmidt were among industry heavyweights who met Shanghai party boss Chen Jining on Thursday, before they were due to speak at the conference. Going forward, China will seek to propel AI development in the Global South, Li said, referring to a loose gathering that includes Brazil and Africa. Schmidt later echoed Li's call for nations to work together — particularly China and the US. 'The upsides are phenomenal,' he told delegates. 'As the largest and most significant economic entities in the world, the United States and China should collaborate on these issues,' he said. 'We have a vested interest to keep the world stable, keep the world not at war, to keep things peaceful, to make sure we have human control of these tools.' —With assistance from Jing Li and Charlie Zhu. (Updates with Schmidt's comments from the 11th paragraph.) Burning Man Is Burning Through Cash Confessions of a Laptop Farmer: How an American Helped North Korea's Wild Remote Worker Scheme It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Elon Musk's Empire Is Creaking Under the Strain of Elon Musk A Rebel Army Is Building a Rare-Earth Empire on China's Border ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
