2020 Financial News

Kesoram Industries, which announced merger of its cement business with UltraTech Cement, is set to prepay around ₹1,500 crore of high-cost debt borrowed at 20% from Goldman Sachs, Cerberus and Edelweiss. «The three funds — Goldman Sachs, Cerberus Capital Services and Edelweiss — are set to be paid ahead of maturity as UltraTech is rated AAA and the cost of borrowing is much cheaper,» a person with knowledge of the matter said on condition of anonymity. As part of the merger deal, UltraTech Cement will issue one share for every 52 shares of Kesoram Industries. The total value of the deal includes a debt of about ₹1,700 crore, according to a Motilal Oswal report.

Gwyneth Paltrow, ex-wife of Coldplay frontman Chris Martin, created a buzz on social media after she posted a sweet photo with Dakota Johnson on Instagram. The two actresses were seen holding hands and smiling while on a walk. Paltrow has earlier said she was good friends with Johnson, who is dating her ex-husband Coldpay frontman Chris Martin. Paltrow split in 2014 and finalized their divorce in 2016.

Walmart to shift its supply chains from China to India, Thailand, and Vietnam. China is Walmart's biggest importer, but the numbers from the country dramatically dropped to just 60% in 2023 from over 80% during the year 2018. "I need resiliency in our supply chains.

astronomers have discovered a group of six planets revolving around a sun-like star in sync. The star system is estimated to be billions of years old and is in the Coma Berenice constellation. According to research that was published in the journal Nature, the discovery of the new planets may help to comprehend how the heavenly bodies were formed and why many of them are of the size between Earth and Neptune. According to Rafael Luque, an astronomer at the University of Chicago, “This discovery is going to become a benchmark system to study how sub-Neptunes… form, evolve, what are they made of". The international team on the study, led by Rafael Luque, believed that since the formation of the system billions of years ago, these six planets orbiting HD110067 have been miraculously carrying out this same rhythmic dance.

Honda Motorcycle & Scooter India (HMSI) on Friday said it is recalling a certain number of H'ness CB350 and CB350RS units to inspect and replace faulty parts. It has been identified that due to an improper process being followed to manufacture the rubber parts of rear stop light switch there are chances of crack development on the rubber, the two-wheeler maker said in a statement.

Advisor-focused alternative investment platform CAIS has announced an expanded partnership with BNY Mellon’s Pershing, opening up access to more alts funds.

The US stock market just posted its best month in almost a year and a half, and one of its best Novembers in decades, defying skeptics and fueling hopes for more gains to come.

methane emissions, Dr Nisbet worries that the Earth’s natural systems may be churning out more and more of the gas. Methane levels are certainly rising. Over the 40 years during which the gas’s level in the atmosphere has been monitored, it has grown by about 17%, in two distinct stages.

₹1,022.55 per share on Friday, December 1 on NSE after its promoter company Bharti Airtel acquired an additional 1.35 percent stake in the telecom company from another promoter group entity Indian Continent Investment Ltd (ICIL) via ₹8,301.73-crore block deal. “BTL has acquired 1.35% shares of Bharti Airtel from Indian Continent Investment Limited (ICIL) through block deal mechanism on National Stock Exchange of India Limited for an aggregate amount of ₹8,301.73 crore," BTL said in a stock exchange filing. After the recent block deal, ICIL's ownership in Airtel has decreased to 4.56%.

stock positions occurred during Thursday's (November 30) trading session, where Alibaba's market value slipped below that of PDD. This is a significant turn for an industry Alibaba once dominated for over a decade. During Hong Kong intraday trading, Alibaba experienced a 1.4 percent decline, causing its market value to briefly fall to around $187 billion, momentarily placing it beneath US-listed PDD Holding's valuation of $188.3 billion, Bloomberg reported.

world cup final frenzy did not help the month register more passengers than November 2019. In the end, the traffic this year was 2% lower than the traffic in November 2019. This makes November the only month in 2023 when the traffic dropped below the corresponding month in 2019.

Purchasing Managers' Index (PMI) climbed to 56 last month, rebounding from October's eight-month low of 55.5. Also Read: Mumbai's property registration witnesses best November in 11 years: Knight Frank Report "A notable feature of the latest results was a significant reduction in price pressures. Although average purchasing costs saw an increase, the inflation rate eased to its lowest level in the past 40 months and remained negligible historically," the survey noted.

By Yoruk Bahceli, Dhara Ranasinghe and Naomi Rovnick

Ministry of External Affairs (MEA) informed that it has decided to set up a high-level probe committee to look into the security concerns shared by the US regarding the criminal nexus and the attempt to murder Pannun. While speaking to reporters who were travelling with him in Tel Aviv, Israel, Blinken said, "The government announced today that it was conducting an investigation, and that’s good and appropriate, and we look forward to seeing the results." The Secretary of State was responding to a question on the appearance of an unnamed Indian official in an indictment filed by federal US prosecutors in a Manhattan court on Wednesday along with an Indian national, which the Department of Justice alleges hired someone in the US to assassinate Pannun, a vocal critic of India and espousing the cause of separate Khalistan.

New India Assurance, having surged 50% in the past five trading sessions, has opted for an annual revision of health insurance premiums, moving away from the previous practice of increasing tariffs every three years. Shares of New India Assurance gained 10% in Thursday's session to Rs 255.85 on the Bombay Stock Exchange, when the index rose 0.13%.

An Indiana county judge has dismissed a state lawsuit filed against TikTok that had accused the app of deceiving its users about the level of inappropriate content for children on its platform and the security of consumers’ personal information

The parent company of Instagram and Facebook has sued the Federal Trade Commission in an attempt to stop the agency from reopening a 2020 privacy settlement with the company that would prohibit it from profiting from data it collects on users under 18

Is now the time for advisors to get big, or perhaps bigger, in Japan?

Quiver Quantitative — Cathie Wood's ARKK Innovation ETF (ARKK) has experienced a remarkable surge in November, posting a record 31% gain. This significant uptick is fueled by investor optimism over potential US interest rate cuts in 2024, driving growth in riskier assets. ARKK's impressive performance mirrors the success Wood achieved in 2020 with ARK Investment Management. However, the current financial inflows to ARKK, approximately $150 million in November, are modest compared to the billion-dollar monthly inflows witnessed during its peak.

Shattering previous records, global mean temperature till October this year was around 1.4 degree Celsius above the pre-industrial level (1850-1900 average), the WMO said. Data so far shows 2023 almost touched the warming limit threshold of 1.5 degree C. This, however, does not mean that the world will permanently exceed the 1.5 degree C level specified in the Paris Agreement, which actually refers to long-term warming over many years. July '23 all-time warmest month on record, says WMO report Based on the data till October, it is virtually certain that 2023 will be the warmest year in the 174-year observational record, surpassing the previous joint warmest years, 2016 at 1.29 degree C above the 1850-1900 average and 2020 at 1.27 degree C.

Ridley Scott's groundbreaking film in 1979. The TV series, initiated in 2020, boasts Scott as executive producer and Noah Hawley as writer/director.