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Latest news on May 18, 2024: Rohit Sharma made a special request to the cameraman days after KKR incident

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May 18, 2024 8:19 AM IST

Cricket Live Updates Today : Rohit Sharma wants recording stopped after deleted KKR video: ‘Ek audio ne mera waat laga diya’

• Days after the KKR incident, Rohit Sharma was quick to avoid a similar on Friday before the match against LSG

Read the full story here

May 18, 2024 8:17 AM IST

Cricket Live Updates Today : IPL Match Today, Royal Challengers Bengaluru vs Chennai Super Kings, IPL 2024: Head-to-Head, pitch report and likely XI

• RCB face CSK on Friday, in their last IPL 2024 fixture. Here are their head-to-head, likely XI, fantasy XI and pitch report details.

Read the full story here

May 18, 2024 7:49 AM IST

Cricket Live Updates Today : ‘My father-in-law..’: KL Rahul’s ‘Sharma ji ka beta’ comment on Rohit for T20 World Cup steals limelight after MI vs LSG

• KL Rahul said he and his father-in-law Suniel Shetty will cheer for ‘Sharma ji ka beta’ and his Team India at the T20 World Cup.

Read the full story here

May 18, 2024 6:40 AM IST

Cricket Live Updates Today : ‘Virat Kohli had a start-stop career…’: Sunil Gavaskar drops big ‘MS Dhoni’ remark days after strike-rate row

• Virat Kohli and Sunil Gavaskar were in a war of words a few days back after the former decided to hit back at his critics over his strike rate in T20 cricket.

Read the full story here

May 18, 2024 6:25 AM IST

Cricket Live Updates Today : Rohit Sharma walks off to standing ovation in MI’s last IPL 2024 match as departure speculations at peak

• Rohit Sharma scored 68 off 38 deliveries in MI’s final match of the season against LSG in IPL 2024. The Wankhede crowd gave him a standing ovation.

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May 18, 2024 12:33 AM IST

Cricket Live Updates Today : IPL 2024: Mumbai Indians’ campaign comes to a crushing end

May 18, 2024 12:28 AM IST

Cricket Live Updates Today : Purple Cap in IPL 2024 after MI vs LSG: No change in top-5 as Jasprit Bumrah rested, Harshal Patel remains at top

• Purple Cap in IPL 2024 after MI vs LSG: There was no change in top-5 as Bumrah, the only player from both sides among the five highest-wicket takers, was rested

Read the full story here

May 18, 2024 12:20 AM IST

Cricket Live Updates Today : IPL 2024 Orange Cap after MI vs LSG: Kl Rahul, Nicholas Pooran move into top 10; Virat Kohli continues to lead

• IPL 2024 Orange Cap after MI vs LSG: Check out updated run-scoring chart after Lucknow’s win against Mumbai.

Read the full story here

Despite the placid movements for indexes, some feverish action was roiling underneath. Reddit jumped 10% after announcing a partnership where OpenAI will bring the social-media company’s content to ChatGPT and become an advertising partner, among other things. Wall Street’s frenzy around artificial-intelligence technology has continued to build despite some warnings of a potential bubble.

On the losing end were GameStop and AMC Entertainment, which gave back more of their massive gains from the beginning of the week.

GameStop dropped 19.7% to trim its gain for the week to 27.2% after it said it expects to report a loss of up to $37 million for the three months through May 4. It also said it could sell up to 45 million shares of stock in order to raise cash.

Such moves can dilute the holdings of current shareholders, and it followed a similar move by AMC Entertainment. After the movie-theater chain’s stock price also got caught up in a rocket ride upward, AMC said earlier this week it would issue nearly 23.3 million shares of stock to wipe out some debt.

Much of the whipsaw action for it and GameStop was due to enthusiasm among investors, not because of fundamental changes to their profit prospects. Not all of those were necessarily smaller-pocketed investors buying on their phones. Renaissance Technologies, the hedge fund founded by pioneering investor Jim Simons, revealed that it bought shares of both GameStop and AMC Entertainment before the end of March, though it may no longer still own them.

Elsewhere in financial markets, Treasury yields ticked higher, and stock indexes around the world were mixed.

This week was a good one for markets broadly after a report rekindled hopes that inflation is finally heading back in the right direction after a discouraging start to the year. That in turn revived hopes for the Federal Reserve to cut its main interest rate at least once this year.

The federal funds rate is sitting at its highest level in more than two decades, and a cut would goose investment prices and remove some of the downward pressure on the economy.

The hope is that the Fed can pull off the balancing act of slowing the economy enough through high interest rates to stamp out high inflation but not so much that it causes a bad recession.

Of course, now that a growing percentage of traders are betting on the Fed cutting rates two times this year, if not more, some economists are cautioning the optimism may be going too far. It’s something that happens often on Wall Street.

While data reports recently have been better than forecast, “better than expected doesn’t mean good,” economists at Bank of America wrote in a BofA Global Research report.

Inflation is still higher than the Fed would like, and Bank of America’s Michael Gapen still expects the Fed to hold its main interest rate steady until cutting in December.

In the bond market, the yield on the 10-year Treasury rose to 4.41% from 4.38% late Thursday. The two-year yield, which more closely tracks expectations for the Fed, edged up to 4.82% from 4.80%.

In stock markets abroad, indexes jumped 1% in Shanghai and 0.9% in Hong Kong after China’s central bank announced moves to bolster its struggling property market. It reduced required down payments for housing loans and cut interest rates for first and second home purchases, among other moves.

Indexes fell in Seoul, Tokyo and across much of Europe.

___

AP Business Writers Matt Ott and Elaine Kurtenbach contributed.

A group of US medical
workers trapped at a hospital in Gaza have now left the territory, the White House says.

American doctors providing care in Gaza were unable to leave after Israel closed the Rafah border
crossing.

Among them were 10 from the US-based Palestinian American
Medical Association, who had intended to leave after a two-week
mission at the European Hospital in Khan Younis.

Today, 17 American doctors and healthcare workers, out
of a total of 20, left Gaza, White House national security
spokesperson John Kirby said.

“I can assure you that any of them that wanted to leave are
out,” Mr Kirby said. 

Three of the doctors chose not to depart Gaza, a source familiar with the situation said.

The Palestinian American Medical Association reported on Wednesday that its team of 19 healthcare
professionals, including 10 Americans, had been denied exit from
Gaza

Israel seized and closed the Rafah border crossing between
Gaza and Egypt on 7 May.