US stocks were largely steady in early trade on Wednesday as oil prices rebounded from multi-year lows, with energy stocks lending support after President Donald Trump ordered a blockade of all sanctioned oil tankers into Venezuela, according to an AP report.The S&P 500 was up 0.1% in early trading, coming off three straight sessions of losses but still hovering near record highs. The Dow Jones Industrial Average rose 171 points, while the Nasdaq composite was flat. Shares of oil producers led gains as US crude climbed 1.4%, clawing back some losses after sliding to its lowest level since 2021 in the previous session.The move in oil followed Trump’s order to block sanctioned Venezuelan tankers, a step that came after US forces last week seized an oil tanker off Venezuela’s coast. The action marked an escalation in pressure on the Nicolás Maduro government amid a broader US military buildup in the region, AP reported.Asian and European markets traded mostly higher earlier in the day, supported by gains in technology stocks and the jump in crude prices. In Europe, Germany’s DAX rose 0.3%, France’s CAC 40 added 0.1%, and Britain’s FTSE 100 surged 1.4%.In Asia, Japan’s Nikkei 225 gained 0.3% as investors awaited a Bank of Japan decision on interest rates later this week. Expectations of a rate hike were bolstered by data showing Japan’s exports rose 6% in November from a year earlier, with shipments to the US increasing for the first time since March. A trade deal with the Trump administration that lowered proposed tariffs on Japanese goods also supported sentiment.Hong Kong’s Hang Seng climbed 0.9%, Shanghai’s Composite index jumped 1.2%, and South Korea’s Kospi advanced 1.4%, led by strong gains in chipmakers SK Hynix and Samsung Electronics. Australia’s benchmark index slipped 0.2%.On Tuesday, Wall Street saw mixed trading as economic data failed to provide clarity on the future path of US interest rates. The S&P 500 fell 0.2%, the Dow dropped 0.6%, while the Nasdaq edged up 0.2%. Reports showed the US unemployment rate at its weakest level since 2021, even as job creation exceeded expectations. Separate data pointed to stronger-than-expected retail revenue growth.Markets continue to weigh hopes that the Federal Reserve could begin cutting interest rates in 2026 against concerns over persistent inflation. Investors are now awaiting inflation data due on Thursday, which is expected to show consumer prices rising faster than policymakers would prefer.Oil prices, after sliding sharply on expectations of ample global supply, rebounded early Wednesday. US crude rose to about $56 a barrel, while Brent crude climbed to nearly $60. In currency markets, the dollar strengthened against the Japanese yen, while the euro slipped slightly against the US dollar.

Carlos Alcaraz and Juan Carlos Ferrero (AP Photo/Thibault Camus, File)

Carlos Alcaraz has announced the end of his long and hugely successful partnership with coach Juan Carlos Ferrero, bringing to a close a seven-year journey that took the Spaniard to the very top of men’s tennis. The world No. 1 confirmed the decision on Wednesday through a message on social media, while Ferrero released a separate statement expressing his gratitude and disappointment that their time together had come to an end. Ferrero began working with Alcaraz when he was just 15, and under his guidance the young Spaniard enjoyed one of the most remarkable rises in the modern game. During their time together, Alcaraz won six Grand Slam titles, lifting the French Open, Wimbledon and US Open trophies twice each. He also collected 24 tour-level titles, including eight Masters 1000 crowns. “After more than seven years together, Juanki and I have decided to end our chapter as coach and player,” Alcaraz wrote. “Thank you for turning childhood dreams into reality. We started this journey when I was barely a kid, and you have been with me on an incredible path both on and off the court. I enjoyed every single step.” One of the defining moments of their partnership came in 2022, when Alcaraz won the US Open at the age of 19 to become the youngest player in history to reach No. 1 in the ATP rankings. Ferrero described the separation as an emotional moment, reflecting on the bond they had built over the years. “Today is a difficult day,” he said. “Saying goodbye is never easy, especially after so many shared experiences. We have worked hard, grown together, and lived unforgettable moments.” Alcaraz did not indicate whether he would immediately appoint a new head coach. Last year, Samuel Lopez was brought into the setup to work alongside Ferrero, and both Ferrero and Lopez were recently named ATP Coaches of the Year. The award followed another outstanding season for Alcaraz, who reclaimed the world No. 1 ranking after winning 71 matches, the most of his career in a single year. He finished the season with eight titles, including triumphs at Roland Garros and the US Open. Despite stepping away, Ferrero expressed confidence in Alcaraz’s future. “We have been an incredible team despite the difficulties,” he said. “I am sure he will continue to achieve great success. I wish I could have continued, and I believe good people and good memories always find a way to cross paths again.”

The mutual fund industry in India reached a milestone in November, with total assets under management rising to Rs 80.80 lakh crore, marking a 18.7 per cent year-over-year growth from Rs 68.08 lakh crore. It added over Rs 12.7 lakh crore to its asset base in the past year, according to Franklin Templeton’s “Mutual Fund Industry Dashboard” report released for November.Monthly SIP flows surged to Rs 29,445 crore in November, up 16 per cent year-on-year, representing a doubling of SIP flows in less than three years. Average SIP ticket size expanded to Rs 2,939 per month compared to Rs 2,476 annually, indicating participation is broadening to higher-income segments. Aggregate SIP flows over the past 12 months reached Rs 3.30 lakh crore, up 27 percent from Rs 2.59 lakh crore in the comparable prior period.Meanwhile the industry also marked 5.84 crore unique investor accounts in November, while adding 66 lakh new investors over the past year. This expansion signifies a reach beyond traditional metropolitan bases, with new account registrations climbing to 57.14 lakh in the same month compared to 49.47 lakh a year earlier.Equity-oriented funds continue to receive the largest share at 60.2 per cent of industry AUM, or approximately Rs 58.26 lakh crore. Within equity funds, SIPs have become increasingly prominent, representing 28.4 percent of total equity AUM, up from 27.5 percent a year ago. Equity net sales have maintained positive momentum for 57 consecutive months, nearly five uninterrupted years. Additionally, passive fund investments grew 24.3 per cent year-on-year to Rs 13.72 lakh crore, with their share rising from 16 per cent to 17 per cent of total AUM, marking a structural shift toward low-cost, index-based strategies.In addition to the top-15 (B30) cities, smaller metropolitan and tier-2 centers now account for 35 per cent of industry AUM, compared to just 26 per cent in September 2020. This shift indicates mutual funds are penetrating deeper into India’s semi-urban populations, significantly expanding the investor base. Notably, Haryana and Rajasthan led state-level growth, marking increase of 23.74 per cent and 22.31 per cent respectively.The mutual fund industry’s relative importance in finance has been increasing, with MF AUM now representing 33.3 per cent of bank deposits, up from 31.2 per cent a year ago. Individual investors, combining retail and high-net-worth categories, accounted for 60 per cent of total industry AUM, with assets growing at a 23 per cent compound annual growth rate over the past decade. Domestic institutional investors generated net inflows of Rs 7.4 lakh crore over the past 12 months, while foreign portfolio investors recorded net outflows of Rs 2.9 lakh crore, showing the industry’s dependence on robust domestic capital flows.Global mutual fund markets’ steady expansionThe global mutual fund market reached $85 trillion in regulated open-end funds during the third quarter of 2025, reflecting 13 percent year-on-year growth. North and South America together hold a 57 per cent share of global assets, while Europe accounts for 32 percent and the Asia-Pacific region comprises 11 per cent.In the US, the mutual fund and ETF sector has more than doubled, growing at a 10 percent compound annual growth rate over the past decade. Passive funds now represent 52 percent of total AUM, up from just 24 percent in 2015. This structural shift toward passive investing reflects a global trend toward low-cost, index-based investment strategies that continues to reshape the international financial landscape.

India‘s T20I captain Suryakumar Yadav faced questions about his prolonged batting struggles during the third T20I against South Africa in Dharamsala, where India secured a seven-wicket victory to lead the five-match series 2-1. Scoring just 12 off 11 balls before falling to Lungi Ngidi, Suryakumar extended his lean run across 21 T20I innings, with only two notable scores, a 75 against Bangladesh and an unbeaten 47 versus Pakistan, disrupting an otherwise consistent record. His 2025 T20I average dipped to 14.20, highlighting challenges against pace bowling at a strike rate below 126.​

India captain Suryakumar Yadav reacts to criticism over T20I slump

Suryakumar dismissed form concerns post-match, emphasizing sharp net practice and confidence in an imminent turnaround.

“I’ve been batting beautifully in the nets. When the runs have to come, they’ll come. Not out of form, definitely out of runs,” he stated during the post-match presentation.

He praised the team’s resilience after the second T20I loss in Mullanpur, crediting a return to basics from the Cuttack win, productive bowler meetings, and honest discussions that fuelled the comeback.​

Also READ: IND vs SA: Hardik Pandya scripts history with unique milestone during 3rd T20I

Suryakumar’s toughest T20I phase

The drop in Suryakumar’s T20I production throughout 2025 is stark when compared to his historic peak where he maintained a career-best rating of 912 points. In the current calendar year, his numbers have plummeted to a mediocre average of 14.2 across 18 innings, with a strike rate that has dipped from his usual 170+ range to a more restrained 125.29.

Suryakumar, once the undisputed world number one in the format, is currently navigating the most challenging statistical slump of his international career. Throughout 2025, the batter formerly known as “Mr. 360” has struggled to replicate the explosive, game-changing innings that became his trademark between 2021 and 2023. This downturn has been particularly evident during the ongoing T20I series against South Africa, where he has recorded scores of 12, 5, and 12, failing to provide the middle-order impetus India has come to expect.

While he remains a tactical asset as a leader, having recently guided India to an Asia Cup T20 title, the disconnect between his record-breaking IPL 2025 form and his international output has sparked concerns among experts and fans alike. With the next T20 World Cup fast approaching, the pressure is mounting on the skipper to rediscover his rhythm and silence the growing scrutiny regarding his batting consistency.

Also WATCH: Arshdeep Singh removes Reeza Hendricks with a beauty in 3rd T20I – IND vs SA

Luthra brothers (File photo)

NEW DELHI: A Goa court on Wednesday sent Saurav Luthra and Gaurav Luthra to 5-day police custody in connection with the devastating fire at an Arpora club venue. The Luthra brothers are the owners of the Birch by Romeo Lane nightclub, which was engulfed in fire that claimed 25 lives.The brothers were produced before the Mapusa Judicial Magistrate First Class (JMFC) court after being brought back to Goa from Thailand. The court remanded them to police custody to allow investigators to question them about the circumstances leading to the blaze and alleged safety lapses at the club.

Before being produced in court, the duo underwent multiple medical examinations. After landing at Manohar International Airport, Mopa, around 10.45 am under police escort, they were first taken to a primary health centre in Siolim and later to the District Hospital in Mapusa for health check-ups.On court directions, they were again sent for a fresh medical examination before being presented before JMFC Puja Sardesai, who ordered five days of police custody.The fire broke out on December 6 around 11.45 pm during a crowded event at the nightclub, when electric firecrackers allegedly struck the wooden ceiling, triggering a massive blaze. 25 people, including tourists and staff, lost their lives, while several others were injured.According to the police, the brothers fled India within hours of the incident. They left for Thailand on December 7, even as rescue operations were under way and a criminal case was registered against them at the Anjuna police station. Goa Police subsequently launched a nationwide and international manhunt, issuing a lookout circular and seeking an Interpol Blue Notice.After their passports were suspended by the ministry of external affairs, Thai authorities detained the brothers in Phuket for illegal stay. They were later deported to India on emergency travel documents issued by the Indian embassy. The duo landed at Delhi’s Indira Gandhi International Airport on Tuesday, where they were arrested by Goa Police and produced before a Delhi court, which granted a 48-hour transit remand.Police have booked them under various provisions of the Bharatiya Nyaya Sanhita, including culpable homicide not amounting to murder and negligence.Investigators have also arrested several others linked to the nightclub’s operations and are probing allegations that the venue was operating with expired licences and without mandatory safety clearances.

Quinton de Kock (Photo by Robert Cianflone/Getty Images)

Mumbai Indians (MI) approached the IPL 2026 mini auction with the smallest available purse, just Rs 2.75 crore, after retaining most of their core squad. Despite the limited funds, they secured South African wicketkeeper-batter Quinton de Kock for only Rs 1 crore, a move praised by former India cricketer Ravichandran Ashwin as a smart and opportunistic acquisition. De Kock, who had previously played for MI between 2019 and 2021, makes a return to the franchise and emerged as their standout buy of the auction. His signing adds firepower to MI’s top order while giving the team flexibility in their batting lineup.

The five-time champions had already bolstered their squad during the trade window, bringing in players such as Sherfane Rutherford, Shardul Thakur, and Mayank Markande. Ashwin highlighted that the franchise’s ability to secure De Kock while other teams hesitated shows strategic planning. “I think the Quinton de Kock buy was a good move. I think the other franchises were sleeping on their haunches, and MI snooped it up. I think MI are not sure about the Rickelton opening combination. I think MI are trying to replicate their IPL 2020 championship squad, only Ishan Kishan is not there,” Ashwin said on his YouTube channel. Despite their limited budget, Ashwin noted that MI’s auction strategy made their squad even stronger. “MI had 2.75 crore, but it was as if they had 27 crore, because they bought so many players. MI already had a winning squad before they went into the IPL auction, and now, after the auction, they look even stronger,” he added. In addition to De Kock, MI also added Danish Malewar, Mohammad Izhar, Atharva Ankolekar, and Mayank Rawat to their lineup, rounding out their squad ahead of the 2026 season.