Aware Financial News

After four major U.S. airlines found unapproved aircraft parts from a UK-based vendor in their planes, WestJet says one of their aircraft was also affected.

Dunzo is seeking a final nod from its board to raise up to $35 million through a rights issue even as some of its investors are of the view that the valuation of the beleaguered startup be slashed to about $200 million — or one fourth of its peak value of $800 million – for the critical financing round, several people aware of the matter said. While a few of the existing investors have committed around $10-15 million in capital at the reduced valuation, the company’s board is yet to clear the proposal, they added. Further, a meeting scheduled for last week is now expected to take place later this week. Company founder and CEO Kabeer Biswas is expected to seek clearance from the board, including top shareholders like Reliance Retail, Google and others, in the coming days to close the much needed funding, the sources said.

WASHINGTON (Reuters) — U.S. and California officials said on Tuesday they are in discussions with General Motors (NYSE:GM) self-driving unit Cruise about a crash in San Francisco involving a pedestrian struck by a robot taxi after being hit by another vehicle.

renewable energy capacities that are auctioned through designated agencies, which will help make the electricity tariff uniform for power distribution companies. The plan is to create separate pools for solar, wind, hybrid, and other projects based on the technologies for around five years, people aware of the development told ET. A weighted average of the tariffs from the capacities in the pool will be determined, which could be revised monthly, they said.

dialysis chain, NephroPlus, valuing the chain at '1,800-2,000 crore ($200-250 million). The US-based Bessemer Venture Partners (BVP) and the World Bank's lending arm International Finance Corporation (IFC) are exploring the sale of about 30% stake in NephroPlus, said multiple people aware of the development.

ICC Men's Cricket World Cup, which begins in India on October 5, people aware of the development told ET. The world cricket governing body has 20 sponsors and partners for ICC World Cup 2023. It has six global partners that are paying $8-10 million for these sponsorship slots.

Digital personal financial services company SoFi Technologies (SOFI) has reached an agreement with a company founded by Tiger Woods and Rory McIlroy to be the presenting sponsor of a new team golf league, in a deal that includes naming rights for an arena in Florida.

Editors Guild of India (EGI), condemned the Delhi Police raids on news portal NewsClick and its journalists on Tuesday, with some alleging that it was an attempt to «muzzle» the press. The EGI issued a statement, saying it was deeply concerned about the raids at the residences of senior journalists on Tuesday morning. These raids are yet another attempt to «muzzle the media», it said. «We remind the government of the importance of an independent media in a functioning democracy and urge it to ensure that the fourth pillar is respected, nurtured and protected,» the guild said. «While we recognise that the law must take its course if actual offences are involved, the due process has to be followed.

At the Temple of Apple, the sins sought to be redeemed are those committed by all industries and businesses: environmental degradation. But unlike other companies, especially those simultaneously consuming and producing on a planetary scale, Apple is keenly aware of its sins. And it is keen to show that it is aware.

Room Heaters Priced Under ₹500 for October 2023 are presented to you in our carefully crafted list, giving warmth without breaking the bank. You can stay warm and comfortable throughout the chilly months thanks to the affordability and outstanding value of these heaters. Finding high-quality goods at a reasonable price is essential in today's market.

Twitter is a really important platform. He’s made tremendous improvements to the platform and I think it’s a unique, very difficult to disrupt kind of asset and one that could grow into different lines of business," Ackman said, while speaking to CNBC channel on October 3. Ackman also noted in the televised interview that a foundation linked to his firm Pershing Square has already backed X through an investment of $10 million.

$107.70 billion by 2027. As a result, many investors and traders want to jump into this sector. Owning a vacation property is not that simple, it requires a lot of upfront capital, ranging in the millions of dollars range, most people do not have this amount of capital available.

Biographer Michael Lewis has exposed management failures and the alarming disappearance of billions of dollars within the financial empire of crypto tycoon Sam Bankman-Fried. 

₹1.76 lakh crore business conglomerate, is heading for a split in an amicable manner, a report said on October 3, citing persons privy to the development. The two factions between whom the 126-year-old business giant is set for a split are – Godrej Industries & Associates, which is headed by brothers Adi and Nadir Godrej, and Godrej & Boyce Manufacturing Company (G&B) led by their cousins Jamshyd Godrej and Smitha Godrej Crishna, the Economic Times report said.

Stocks finished yesterday lower as rates pushed higher again and spreads widened. The 10-year climbed to 4.69%, and the help to spread between the ten and the two widened to -42 bps, which is important.

Notably, out of the 5,78,061 pending cases, a staggering 1,61,134 are related to the insurance sector, indicating a state of chaos within the industry. These numbers also signal a steep rise in the resoluteness of the consumers to seek redressal in case of claim rejection or discrepancy with the cover amount.

midcap stocks have managed to outbeat Nifty for all the six months of FY23. Nifty Midcap 150 and Nifty Smallcap 250 indices have not only fared better than Nifty in each of the last 6 months but have also given positive returns all throughout. In March 2023, when Nifty started to recover, the mid and smallcap indices were still under selling pressure.

I-T department said extensive outreach programmes were carried out to facilitate the taxpayers. “Around 55.4 lakh outreaches were done through e-mails, SMSs, social media, along with information messages on Income Tax portal to create awareness among the taxpayers to file the Tax Audit Reports and other audit forms within the due date," it said.

JSW Cement, the building-materials business of steelmaker JSW Group, is in initial talks with Germany's Heidelberg Materials to acquire the latter's 13.4 million-tonne-a-year cement businesses in India, industry sources aware of the talks told ET. The people cited above said the discussions, currently bilateral, began after the JSW Group made an unsolicited offer to acquire Heidelberg's local entities that primarily have capacities in peninsular India. The world's second-biggest cement market, both by capacity and consumption, India has a highly regional and freight-intensive building-materials industry where manufacturing proximity to the end consumption market often determines profitability-linked enterprise valuation multiples in mergers and acquisitions. To be sure, Heidelberg is yet to take a final call on its India exit strategy and according to the people cited above, it is possible that it may eventually decide to opt for a bidding process for the assets to allow other potential buyers to participate and increase competitive intensity for the plants. A Heidelberg Materials spokesperson declined to comment, while the JSW Group did not respond to ET's email seeking comments. Holcim Exit If concluded, it will mark the exit of a second global cement manufacturer from India after Swiss building materials company Holcim Group exited India in 2022, selling Ambuja Cements and ACC to the Adani Group in a closely contested bidding in which JSW Group had also participated. Heidelberg has more than 13 million tonnes per annum (MTPA) cement making capacity in India, of which 6.3 MTPA is with the listed entity HeidelbergCement India, and 7.1 MTPA is with the closely held Zuari Cement.

Godrej Group, the ₹1.76-lakh-crore conglomerate that began its industrial journey five decades before Independence selling locks to the citizens of a then crime-prone Bombay, is reportedly in advanced stages of crucial negotiations to conclude the formal division of its diverse businesses, top industry executives familiar with the matter told ET. The two factions of the Godrej family — Godrej Industries & Associates led by Adi Godrej and his brother Nadir, and Godrej & Boyce Manufacturing Company (G&B) involving cousins Jamshyd Godrej and Smitha Godrej Crishna — are likely to finalise soon the formal split of business verticals as diverse as engineering, appliances, security solutions, agricultural products, real estate, and consumer products, said the officials cited above. The family council is ironing out some important specifics involving two critical points — usage of the Godrej brand name after the split, including possible royalty payments, and land valuations currently held by G&B.

₹9,310 crore, valuing the promoters’ stake at about ₹4,650 crore. Private equity (PE) firms are most likely to be interested in the asset, given that VIP Industries is much larger than its Indian rivals, except Safari Industries, the first person cited above said. Rising incomes, an expanding travel infrastructure, and online bookings have fuelled a surge in travel among Indians, resulting in heightened demand for luggage.