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Business Recorder
09-07-2025
- Business
- Business Recorder
KSE-100 sheds over 800 points amid selling pressure
Selling pressure was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index settling with a loss of over 800 points on Wednesday. Negative sentiments prevailed throughout the trading session, dragging the KSE-100 Index to an intra-day low of 132,326.17. At close, the benchmark index settled at 132,576.98, a decrease of 826.21 points or 0.62%. Selling was seen in key sectors including commercial banks, fertilizer, oil and gas exploration companies and refinery. Index-heavy stocks including ARL, NRL, MARI, OGDC, PPL, POL, MCB, MEBL and UBL traded in the red. On Tuesday, the PSX witnessed a volatile trading session as the market swung sharply between gains and losses before settling almost flat at 133,403.19 points, a modest increase of 33 points or 0.02%. Globally, the US dollar traded close to a 2-1/2-week high versus major peers on Wednesday while copper hit an all-time peak overnight after US President Donald Trump broadened his global trade war by threatening a 50% tariff on the metal. Trump also said levies on semiconductors and pharmaceuticals were coming soon, weighing on Wall Street on Tuesday, with futures indicating further weakness there on Wednesday. However, stock markets around the Asia-Pacific were mixed, as investors digested Trump's latest, shifting trade salvos. Japan and South Korea are among major U.S. trading partners in the region facing an August 1 deadline to reach a trade deal or be subjected to new tariff rates, although Trump has sent mixed signals on how flexible that date is. On Monday, Trump said it was 'firm, but not 100% firm,' reinforcing the view among some in markets that the deadlines are a negotiating tactic that the US president will ultimately back away from. On Tuesday though, Trump appeared to harden his stance by saying, 'No extensions will be granted.' Japan's Nikkei edged down 0.2%, shedding early small gains. Australia's stock index declined 0.4%, and Hong Kong's Hang Seng lost 0.9%. At the same time, mainland Chinese blue chips rose 0.2%, and South Korea's KOSPI climbed 0.5%. US S&P 500 futures eased 0.1%, following a 0.1% loss for the cash index on Tuesday that extended the 0.8% drop that started the week.
Business Recorder
09-07-2025
- Business
- Business Recorder
KSE-100 sheds nearly 800 points amid selling pressure
Selling pressure was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index losing nearly 800 points intraday trading on Wednesday. At 2:55pm, the benchmark index was hovering at 132,619.72 level, a decrease of 783.47 points or 0.59%. Selling was seen in key sectors including commercial banks, fertilizer, oil and gas exploration companies and refinery. Index-heavy stocks including ARL, NRL, MARI, OGDC, PPL, POL, MCB, MEBL and UBL traded in the red. On Tuesday, the PSX witnessed a volatile trading session as the market swung sharply between gains and losses before settling almost flat at 133,403.19 points, a modest increase of 33 points or 0.02%. Globally, the US dollar traded close to a 2-1/2-week high versus major peers on Wednesday while copper hit an all-time peak overnight after US President Donald Trump broadened his global trade war by threatening a 50% tariff on the metal. Trump also said levies on semiconductors and pharmaceuticals were coming soon, weighing on Wall Street on Tuesday, with futures indicating further weakness there on Wednesday. However, stock markets around the Asia-Pacific were mixed, as investors digested Trump's latest, shifting trade salvos. Japan and South Korea are among major U.S. trading partners in the region facing an August 1 deadline to reach a trade deal or be subjected to new tariff rates, although Trump has sent mixed signals on how flexible that date is. On Monday, Trump said it was 'firm, but not 100% firm,' reinforcing the view among some in markets that the deadlines are a negotiating tactic that the US president will ultimately back away from. On Tuesday though, Trump appeared to harden his stance by saying, 'No extensions will be granted.' Japan's Nikkei edged down 0.2%, shedding early small gains. Australia's stock index declined 0.4%, and Hong Kong's Hang Seng lost 0.9%. At the same time, mainland Chinese blue chips rose 0.2%, and South Korea's KOSPI climbed 0.5%. US S&P 500 futures eased 0.1%, following a 0.1% loss for the cash index on Tuesday that extended the 0.8% drop that started the week. This is an intra-day update
Tom's Guide
09-07-2025
- Business
- Tom's Guide
ExpressVPN becomes the latest VPN provider to be embroiled in an auto-renewal lawsuit
ExpressVPN has become the latest VPN provider to have its auto-renewal subscription methods challenged in court, with its practices accused of being "illegal." Plaintiff Timothy Millar filed the lawsuit against the company in the US District Court for the Central District of California. He claims that ExpressVPN failed to clearly disclose its auto-renewal fee and did not receive consent before charging him. Millar is looking to represent a group of Californian consumers who were charged at least one automatically recurring payment. ExpressVPN isn't the only provider on our best VPN list to face legal action over auto-renew subscriptions. NordVPN is currently facing a similar case in New York over "deceptive" pricing practices. Millar believes ExpressVPN has violated California's Automatic Renewal Law (ARL). This law aims to stop companies automatically charging customers without their consent. In September 2022, Millar said he purchased a one month ExpressVPN subscription. He believed this was a one-time purchase as a result of ExpressVPN's "alleged misleading advertisements" and lack of disclosure. He said he did not consent to subscribing to an automatically renewing monthly plan. A jury trial is being requested, along with damages for Millar and others. Tom's Guide approached ExpressVPN for comment. The company said: "We are aware of the filing in relation to a subscription from several years ago and intend to defend it. Unfortunately, we cannot comment on the specific allegations made in this complaint." "ExpressVPN has always prioritized transparency and giving users clear information about pricing, billing, and auto-renewal – this information is clear and highly visible at each step of the checkout process." "As a cybersecurity company, providing uninterrupted protection is important to our customers. This subscription model ensures that customers get the protection they need, without fail, on their devices. Customers can switch auto-renew off anytime via their account dashboards or by contacting support." "We remain focused on delivering value to our users; ensuring they retain control over their digital privacy." ExpressVPN is not alone in its use of auto-renewal subscriptions – almost the entire VPN industry operates them in one way or another. Plans will also tend to auto-renew at a higher price than what was originally offered. Again, this is common practice but issues arise around how this is communicated to users. We recently researched VPN renewal prices, and the results weren't pretty. ExpressVPN's two-year plan was found to renew with a 133% price increase. NordVPN renewed at a 241% increase, while Surfshark renewed at a 230% increase. However, the price increases themselves are not why we are seeing class-action lawsuits. These legal cases revolve around the communication of these prices and the automatic renewal of plans. Users may not realise plans auto-renew and this is what has led to legal action. The cases involving ExpressVPN and NordVPN are still ongoing. We do not know what the outcome will be and how, or if, they will affect the VPN industry. We test and review VPN services in the context of legal recreational uses. For example: 1. Accessing a service from another country (subject to the terms and conditions of that service). 2. Protecting your online security and strengthening your online privacy when abroad. We do not support or condone the illegal or malicious use of VPN services. Consuming pirated content that is paid-for is neither endorsed nor approved by Future Publishing.
Business Recorder
09-07-2025
- Business
- Business Recorder
KSE-100 sheds nearly 1,000 points amid selling pressure
Selling pressure was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index losing nearly 1,000 points during the opening minutes of trading on Wednesday. At 10:35am, the benchmark index was hovering at 132,419.08 level, a decrease of 984.11 points or 0.74%. Selling was seen in key sectors including commercial banks, fertilizer, oil and gas exploration companies and refinery. Index-heavy stocks including ARL, NRL, MARI, OGDC, PPL, POL, MCB, MEBL and UBL traded in the red. On Tuesday, the PSX witnessed a volatile trading session as the market swung sharply between gains and losses before settling almost flat at 133,403.19 points, a modest increase of 33 points or 0.02%. Globally, the US dollar traded close to a 2-1/2-week high versus major peers on Wednesday while copper hit an all-time peak overnight after US President Donald Trump broadened his global trade war by threatening a 50% tariff on the metal. Trump also said levies on semiconductors and pharmaceuticals were coming soon, weighing on Wall Street on Tuesday, with futures indicating further weakness there on Wednesday. However, stock markets around the Asia-Pacific were mixed, as investors digested Trump's latest, shifting trade salvos. Japan and South Korea are among major U.S. trading partners in the region facing an August 1 deadline to reach a trade deal or be subjected to new tariff rates, although Trump has sent mixed signals on how flexible that date is. On Monday, Trump said it was 'firm, but not 100% firm,' reinforcing the view among some in markets that the deadlines are a negotiating tactic that the US president will ultimately back away from. On Tuesday though, Trump appeared to harden his stance by saying, 'No extensions will be granted.' Japan's Nikkei edged down 0.2%, shedding early small gains. Australia's stock index declined 0.4%, and Hong Kong's Hang Seng lost 0.9%. At the same time, mainland Chinese blue chips rose 0.2%, and South Korea's KOSPI climbed 0.5%. US S&P 500 futures eased 0.1%, following a 0.1% loss for the cash index on Tuesday that extended the 0.8% drop that started the week. This is an intra-day update
Business Recorder
09-07-2025
- Business
- Business Recorder
KSE-100 sheds over 600 points amid selling pressure
Selling pressure was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index losing nearly 300 points during the opening minutes of trading on Wednesday. At 10:10am, the benchmark index was hovering at 132,748.47 level, a decrease of 654.72 points or 0.49%. Selling was seen in key sectors including commercial banks, fertilizer, oil and gas exploration companies and refinery. Index-heavy stocks including ARL, NRL, MARI, OGDC, PPL, POL, MCB, MEBL and UBL traded in the red. On Tuesday, the PSX witnessed a volatile trading session as the market swung sharply between gains and losses before settling almost flat at 133,403.19 points, a modest increase of 33 points or 0.02%. Globally, the US dollar traded close to a 2-1/2-week high versus major peers on Wednesday while copper hit an all-time peak overnight after US President Donald Trump broadened his global trade war by threatening a 50% tariff on the metal. Trump also said levies on semiconductors and pharmaceuticals were coming soon, weighing on Wall Street on Tuesday, with futures indicating further weakness there on Wednesday. However, stock markets around the Asia-Pacific were mixed, as investors digested Trump's latest, shifting trade salvos. Japan and South Korea are among major U.S. trading partners in the region facing an August 1 deadline to reach a trade deal or be subjected to new tariff rates, although Trump has sent mixed signals on how flexible that date is. On Monday, Trump said it was 'firm, but not 100% firm,' reinforcing the view among some in markets that the deadlines are a negotiating tactic that the US president will ultimately back away from. On Tuesday though, Trump appeared to harden his stance by saying, 'No extensions will be granted.' Japan's Nikkei edged down 0.2%, shedding early small gains. Australia's stock index declined 0.4%, and Hong Kong's Hang Seng lost 0.9%. At the same time, mainland Chinese blue chips rose 0.2%, and South Korea's KOSPI climbed 0.5%. US S&P 500 futures eased 0.1%, following a 0.1% loss for the cash index on Tuesday that extended the 0.8% drop that started the week. This is an intra-day update
