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28.10 / 08:51
UPS Election wellness President blues Investigations Editorial Washington Post in turmoil after opting against 2024 presidential endorsement
Subscribe to enjoy similar stories. Thousands of Washington Post readers have canceled their subscriptions. Staffers have gone public with their outrage.
28.10 / 08:51
markets Target Booking Sustainability show stage Is DLF’s dull show in the September quarter a one-off?
Subscribe to enjoy similar stories. DLF Ltd’s pre-sales or booking momentum dwindled in the September quarter (Q2FY25) thanks to muted sales of existing projects in a seasonally lean quarter and no new project launches due to delayed approvals. The realty company’s pre-sales fell 69% year-on-year and 89% sequentially to a 17-quarter low of ₹692 crore.
28.10 / 08:51
UPS Manufacturing economy wellness show country shock A decade of ‘Make in India’: Why our factory sector is looking up
Subscribe to enjoy similar stories. Recently, the government marked the occasion of one decade of ‘Make in India.’ It was a trigger for many commentators to bring out their knives (sorry, keyboards) and point out that India’s manufacturing gross value added (GVA) as a share of total GVA has not risen, etc, contending that the programme has failed. Some find a way to see silver linings around clouds and some are adept at the opposite.
28.10 / 08:31
CEO Department International McInroy & Wood hires former Fidelity fund manager Leigh Himsworth
Having spent almost a decade as a UK equity fund manager at Fidelity, Himsworth said «it is refreshing to return to the area, which is clearly thriving and somewhere that I genuinely see as home, and a region that I personally want to succeed». The former manager of the £358m Fidelity UK Opportunities fund joins as an investment manager following 30 years of experience within financial services including stints at Royal London Asset Management and Gartmore.  Fidelity International fund manager Himsworth departs after almost a decade McInroy & Wood's CEO Tim Wood said: «We are fortu...
28.10 / 08:31
Sky News Interviews Prime Minister Keir Starmer: Share owners are not 'working people'
In an interview with Sky News today (25 October), Starmer said his definition of a working person relates to «someone who goes out and earns their living, usually paid in a monthly check». «What I mean or who I have in my mind's eye when I make decisions as prime minister are the sorts of working people who go out, work hard, maybe save a bit of money, but do not have the wherewithal to write a cheque to get out of difficulties if they or their families get into difficulties,» he added. Rachel Reeves confirms changes to UK fiscal rules to boost government investment Asked whether p...
28.10 / 08:31
Strategy Invesco performer Updates abrdn and Invesco Asia-focused trusts agree merger to form sector's largest mandate
Asia Dragon began the hunt for a new manager in May as it underwent a strategic review launched over the vehicle's weak performance. Asia Dragon trust hunts for potential new manager months after merger At the time, the board said it was «interested to consider proposals from established fund management groups» with experience of similar equity strategies, and in an update today (28 October), said it has received interest from a «large number» of prospective firms. On the Invesco Asia team, abrdn said it was «impressed by the distinctive and disciplined value-oriented investment ap...
28.10 / 08:31
country Keir Starmer: Budget will remove 'needless regulation that holds back growth and private investment'
In a speech set to be delivered today (28 October), the prime minister will say: «On competition, we are stripping out the needless regulation that holds back growth and private investment».  According to Starmer, «everyone in the country will benefit from this», given that the Budget will represent «an economic plan that will change the long-term trajectory on British growth for the better».  What to expect at the upcoming Autumn Budget While he will vow to focus the Budget on a three-word mantra of «stability, investment, reform», in order to fix the NHS and «protect working peop...
28.10 / 08:31
Strategy JP Morgan Japanese trust to acquire £144m in assets from JSGI after merger approval
With a total 99.6% of the votes in favour of the deal, JFJ will acquire £144.3m of assets from JSGI, in consideration for issuing 23.3 million in ordinary shares related to the merger. The deal was first announced in July, when JP Morgan said it would merge the two strategies into one all-cap portfolio with assets under management of the combined vehicle set to surpass £1bn. Largest Japanese equity investment trust prepares merger to create £1bn portfolio At a general meeting on Thursday (24 October), around 39% of JSGI's share capital representing slightly over 21.1 million shares...
28.10 / 08:31
UPS Research reports Investor appetite diverges by age as Budget worries sour older generations
In abrdn's biannual Savings Ladder index, conducted by Opinium Research, a raft of reasons ranging from the change in government to falling interest rates have led younger investors to adopt a «use it or lose it» approach ahead of any potential tax tweaks in the Autumn Budget.  Overall, the nation's propensity to save and invest has edged up by four percentage points between May and September.  However, according to the report, «this figure masks a worrying intergenerational divide», evidenced by a growing propensity to save and invest among 18–34-year-olds, who exhibited a double dig...
28.10 / 08:17
markets IPO Manufacturing Analysis Research Trade Experts Waaree Energies: Early birds Madhu Kela, Ravi Dharamshi make multibagger returns in solar play
Ravi Dharamshi, who backed Waaree Energies when hardly anyone else was talking about it, have made multifold returns on the solar energy stock, which got listed on the stock exchanges today. Madhu Kela's wife, Madhuri, owned 33,41,700 shares, or 1.27% equity in Waaree Energies. Disclosures made by the company in its red herring prospectus (RHP) show that Kela participated in a private placement in June 2023 and purchased 7.25 lakh shares at Rs 550 per share.
28.10 / 08:17
markets Digital Bill Experts PAM rights Editorial Waqf (Amendment) Bill emerges as key issue in by-polls in Kerala
Wayanad Lok Sabha seat and two Assembly segments in Kerala. The Catholic Church, whose followers have significant influence in the Wayanad Lok Sabha seat where Congress general secretary Priyanka Gandhi is trying her electoral luck, has backed the Bill brought by the BJP-led government at the Centre, opposing the provisions in the existing law. The Church alleged that numerous properties belonging to Christian families for generations in the villages of Cherai and Munambam in the Ernakulam district have been unlawfully claimed by the Waqf Board. On Monday, the Syro-Malabar Catholic Church-backed 'Deepika' daily published an editorial, criticising the Congress-led UDF and the CPI(M)-led LDF, accusing them of passing a unanimous resolution in the state Assembly «to protect the Waqf law without seeing the tears of the affected people.»
28.10 / 08:17
markets Digital Google Experts PAM performer social Hindustan Zinc to cut debt by Rs 4,000 cr by March-end, says CFO
Hindustan Zinc Ltd plans to pare its debt by a third by the end of this financial year bolstered by additional cash flows after a likely relatively robust performance in the October to March period. The country’s largest producer of zinc, lead and silver expects to reduce its debt to about Rs 2,000 crore by March-end from about Rs 6,000 crore at the end of the September quarter, chief financial officer Sandeep Modi told analysts after the company’s quarterly earnings. “…we have already generated free cash flow of Rs7,000 crore in H1, and normally H2 remains better. So, I think it's only a timing difference,” he said.
28.10 / 08:17
markets Digital Fighting Experts PAM reports DMK says actor Vijay led party's principles 'copy,' AIADMK says 'old wine in new bottle'
DMK has said that actor-politician Vijay helmed Tamizhaga Vetri Kazhagam copied its ideology while main opposition AIADMK said TVK's principles are a cocktail of current political standpoints of various parties and Naam Tamizhar Katchi has ruled out chances of joining forces with the new entrant. While Vijay openly targeted the DMK and its first family in his debut public appearance for his party's inaugural event on Sunday, DMK said it has seen many rivals in its long innings and will continue to be strong. Asked on TVK's ideological points, its hint at opposition to the office of Governor, DMK leader TKS Elangovan said, «these are all our policies, he is copying...whatever he says is what we had already said and which we are following.» On the maiden conference of Vijay's party, he told PTI Videos: «This is the first conference and let us see, we have seen many parties.» Outlining his party's strong ideological moorings and work over a long period of time in its 75-year old journey, Elangovan said DMK leaders went to jail fighting for people's cause and though the party had lost several elections, it continued to be strong.
28.10 / 08:17
markets Digital Platform Mobile Experts PAM social "When will govt agencies intervene?", Kunal Kamra hits at Ola again, urges Nitin Gadkari to step in
Kunal Kamra took to X (formerly Twitter) to express his frustration over the poor condition of Ola Electric scooters and urged Union Minister Nitin Gadkari to intervene. In his post, Kamra highlighted the plight of Indian customers, criticising the lack of accountability from Ola. He emphasised how customers are struggling to commute and are being forced to take bad loans due to issues that, according to him, are the company’s responsibility. His post was triggered by a complaint from Rangraj Nagar in Solapur, where several Ola scooters were reportedly found in poor condition. The user expressed outrage over the absence of qualified engineers or technicians at the site, stating that such negligence is unacceptable given that customers have invested their hard-earned money into these products. Tagging prominent figures including Ola Electric’s CEO Bhavish Aggarwal, Prime Minister Narendra Modi, and Minister Gadkari, Kamra's post urged government agencies to intervene and address the grievances.
28.10 / 08:17
markets Digital security Experts RAI Cycling PAM Upcoming key government appointments: CAG, RBI Governor, CEA, and SEBI Chairperson
CAG is set to conclude in November, and a high-ranking official with close ties to the Modi administration is likely to be chosen to oversee the Centre's financial oversight. While Murmu's position requires a new appointee, three other pivotal roles — the Reserve Bank of India (RBI) Governor, Chief Economic Adviser (CEA), and Securities and Exchange Board of India (SEBI) Chairperson — offer the possibility of reappointment. Following Murmu’s tenure, attention will shift to the RBI’s leadership. Shaktikanta Das, who became RBI Governor in December 2018 after the sudden resignation of Urjit Patel, is nearing the end of his second term. Das, a former bureaucrat known for maintaining strong government relations and navigating India’s financial landscape smoothly, may either continue in this role or pass the mantle, with a decision expected in December.
28.10 / 08:17
Citizens Experts innovations reports Why Noida and Ghaziabad are blaming Pakistan for polluted air?
Air Quality Index (AQI) for Noida plummeted to 304, down from 169 the previous day. Greater Noida reported an AQI of 312, while Ghaziabad recorded an even higher AQI of 324.
28.10 / 08:01
COST Align Sustainability Trade Experts performer reports Ambuja Cements Q2 Results: Standalone profit falls 22% YoY to Rs 501 crore
Ambuja Cements on Monday reported a standalone net profit of Rs 501 crore in the second quarter ended September 2024, which is a fall of 22% year-on-year (YoY) from Rs 644 crore reported in the previous year quarter. Revenue from operations, meanwhile, increased 6% YoY to Rs 4,213 crore in the July-September 2024 period, compared with Rs 3,970 crore in the last year period.
28.10 / 08:01
markets FIVE BLOCK Digital Booking Experts PAM IRCTC train ticket booking: How to book Tatkal tickets without money getting blocked, step-by-step guide to follow
Tatkal tickets on the day before the train's departure from the originating station. The booking window opens at 10 am for AC classes (2A/3A/CC/EC/3E) and 11 am for non-AC coaches (SL/FC/2S). For example, if you want to book a Tatkal ticket for a train departing on November 1, you can book it on October 30 at the specified times. Now imagine you need to book Tatkal train tickets for a family of five. This could cost thousands of rupees. Additionally, if you specify a particular berth, such as a lower berth, and it's not available, your money will be blocked for four to five days before being automatically refunded. The main concern is not the refund itself, but the time it takes to receive it. To save both time and money when booking Tatkal tickets, consider using the autopay option where you can use UPI (OTM)/debit card (OTM)/credit card (OTM) to pay for the tickets using a mandate. These autopay options are available on the IRCTC iPay payment gateway.
28.10 / 08:01
markets COST UPS trends Trade travelers International Q2 saw normalisation of growth in IndiGo; expect lower double-digit growth in Q3: Pieter Elbers
Pieter Elbers, CEO, IndiGo, says the growth is pretty much what was expected and follows the usual seasonal trends. After the big jump after COVID, things are settling back into a more typical seasonal rhythm, similar to what we experienced in the Indian market before COVID, but with a lot more travelers, which is great for revenue. On the cost side, IndiGo faced a peak in AOGs due to global supply chain problems and some engine issues we've encountered, which has resulted in extra costs. IndiGo has been consistently beating market estimates. But for the quarter gone by, the story seems to be different. There is a drop in margin. This is one of the slowest quarterly growth you have reported in 12 quarters. What has led to this decline? Was it traffic? Was it an issue with aircraft? Could you just share more light on that? Pieter Elbers: Let me take a step back and see how India has basically recovered in terms of traffic post COVID.
28.10 / 08:01
markets UPS Digital Porsche show Features Sporting Mercedes and Porsche’s fight with China is coming close to home
Manufacturers led by BYD Co. have opened a new front in the fight for dominance of the auto industry by redefining “Made in China” as a global symbol of luxury for the electric-vehicle age. After challenging the likes of Mercedes and BMW AG in their home market, they’re taking the fight to Europe and making inroads. The clearest sign of their impact came on Friday, when Mercedes reported its weakest profitability since the former cars-to-trucks conglomerate broke itself up in 2021 to become more nimble. Porsche AG, the maker of the 911 sports car, said it’s weighing cost cuts and reviewing its model lineup after a demand slump in China caused earnings to plunge.
28.10 / 08:01
markets Target wellness Trade show recommendations rights 2 top stock recommendations from Shivangi Sarda
«So, levels per se, if we are expecting Nifty to hold above 24,440, then we could see round about 25,000 levels. And for the support, 24,150 would be important to watch out for,» says Shivangi Sarda, Motilal Oswal Financial Services. What is your expectation, is the worst over and from here on, we are expecting a Diwali cheer or it is still a bit sceptical at the moment? Shivangi Sarda: Of course, we have seen that some sort of a pressure was there the previous week, but we have seen a good pullback move today and we have somewhere got stuck at 24,440 levels, which is a crucial hurdle over here. So, once this level gets crossed, it is going to be somewhat of an end of the pain that we have seen in the last four weeks. But overall, we are seeing good buying interest emerging right at the start of this festive week. So, it is a good sign.

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