Aware Financial News

The corporate regulator will launch legal action against Westpac on Tuesday alleging it failed to respond to requests from hundreds of its customers struggling with loan repayments over a seven-year period, who wanted to enter hardship arrangements with the bank.

G20 Summit, scheduled to commence in India's capital, New Delhi, on September 9. This marks the first occasion that India plays host to this formidable assembly of global leaders.

Bain Capital has approached Dr Reddy's Laboratories (DRL) to explore a joint bid to buy out the promoters of Cipla, the Hamied family. Last week, senior leadership from both sides met along with their advisors to discuss and formalise a strategy, said people aware of the development.

Elon Musk has blamed the Anti-Defamation League for a fall in US advertising revenue on the social media platform. In a series of posts on Monday, Musk said that ad sales are still down 60% “primarily due to pressure on advertisers" mounted by the Anti-Defamation League. Musk said that the ADL was trying to kill the social media platform since he acquired it in October last year, by “falsely accusing" it and him of being anti-Semitic.

Los Angeles Dodgers pitcher Julio Urias was arrested on suspicion of felony domestic violence. He was booked and later released on a personal bond of $50,000. He pitched last time against the Braves on Friday. He will appear in court on September 27, in the last week of the MLB regular season.

finance ministry has started the process to prepare the interim budget for 2024-25 by asking various departments to submit their statements of budget and expenditure trends by October 5. In a circular dated September 1, the Department of Economic Affairs said: «Pre-budget meetings chaired by secretary (expenditure) shall commence in the second week of October 2023… shall continue till around mid-November 2023,» the circular said. It has also asked the departments to «ensure accurate projection of estimates»-for both the revised estimates for this fiscal year and the budget estimates for 2024-25. A person aware of the details recently said the ministry had already informally conveyed to various departments to present «realistic assessments» of their budgetary demands.

(Reuters) — Australia's Westpac Banking (NYSE:WBK) Corp on Tuesday said it was aware of legal proceedings launched by the country's corporate regulator alleging the lender's failure to assist its customers with financial hardship notices between 2015 and 2022.

Boundary Holding, and Shweta Khare, president at the same company, have purchased a 948-square-yard plot for ₹76 crore in Delhi's Anand Niketan, two persons aware of the development said. According to the registry documents accessed through CRE Matrix, they have paid ₹3.8 crore as stamp duty for the transaction. Anand Niketan is among the residential areas preferred by HNIs because of its proximity to Lutyens' Delhi and friendly redevelopment regulations, as it comes under South Delhi administration. In the area, property buyers can construct up to 4 floors.

Adani Logistics, Sajjan Jindal-owned JSW Jaigarh Port, TVS Group, and Welspun Group have shown interest in bidding for Renaissance Indus Infra, a warehouse and industrial park developer undergoing insolvency process, said people aware of the development. Two special-purpose vehicles floated by promoter Mayur Suchak's Renaissance Group are undergoing insolvency. These are Renaissance Indus Infra which is involved in warehousing and industrial development in or around Bhiwandi, Mumbai and Renaissance Urban Infra which is engaged in the business of infrastructure developments and creation of industrial smart cities. IIFL Facilities Services; Authum Investment and Infrastructure, which recently acquired assets of Reliance Home Finance and Reliance Commercial Finance; and JC Flowers Asset Reconstruction Company, which acquired Yes Bank's ₹48,000 crore distressed assets portfolio, also submitted expressions of interest (EoI), said one of the persons cited above. Clearwater Capital Partners Singapore Fund and Catalyst Trusteeship are the only two creditors for the Renaissance Group's SPVs admitted for corporate insolvency. Ares SSG Capital is the sole bondholder for which Catalyst is the debenture trustee. The lenders are working on group resolution although both cases were admitted separately by the National Company Law Tribunal.

NEW DELHI : NHPC Ltd, Tata Power Ltd, Adani Green Energy Ltd and JSW Energy Ltd are among companies that have proposed to build pumped storage projects (PSPs) totalling 39GW in the country, an official aware of the development said, potentially attracting investments of as much as ₹3.12 trillion. In PSPs, excess energy is used to pump water to an upper reservoir when power demand is low. When demand rises, water is released, turning a turbine which generates electricity.

NEW DELHI : India’s National Investment and Infrastructure Fund Ltd (NIIF) and private equity firm Actis Llp are among four contenders vying to acquire Macquarie Asset Management’s Green Investment Group platform Vibrant Energy, two people aware of the development said. Vibrant Energy has a 1.5-gigawatt (GW) portfolio in the commercial and industrial (C&I) sector. JP Morgan is managing the transaction with four bidders being shortlisted from among the non-binding offers submitted for the deal valued at around $250 million.

NEW DELHI : The government will examine the quantifiable implications of the monsoon shortfall, and the impact on rural consumption and demand, Chief Economic Advisor to the government, V. Anantha Nageswaran said in an interview. Nageswaran also said supply-side measures taken by the government to tame inflation will see success in the medium to long term.

Ukraine President Volodymyr Zelenskyy says that defense minister Oleksii Reznikov will be replaced this week with Rustem Umerov, a Crimean Tatar lawmaker

By Pavel Polityuk, Tom Balmforth and Luiza Ilie

TOMY International Inc. has initiated a recall for its 'Boon Flair & Flair Elite highchairs due to safety concerns. These highchairs feared to have a detachment issue, were distributed throughout the United States and Canada. The voluntary recall was announced on August 31, 2023, in collaboration with the United States Consumer Product Safety Commission (CPSC), Health Canada, and TOMY International Inc.

Oshi no Ko -Interlude- Chapter 4, fans of the manga were offered a glimpse into one of Ruby Hoshino's most profound insecurities. While it might seem like a typical vulnerability one would harbor, Ruby's insecurity finds its roots in her past life's fragile health condition as Sarina. This sheds light on the deep scars she carries from her previous existence.

Redefining the luxury car rental industry in California, Monza Exotics is the brainchild of Aamer Sakallah, a passionate entrepreneur and car aficionado. In just three short years, this thriving business has gone from one vehicle to now boasting over 30 high-end cars.

Maharashtra Real Estate Regulatory Authority (MahaRERA) has finalized the criteria for the proposed grading of housing projects in the state to be known as MahaRERA Grading Matrix. The grading of projects will be undertaken to make it easier for homebuyers to select the right project. MahaRERA is the first real estate authority in the country to undertake the exercise to rate the projects this way and is planning to grade the project initially and then the promoters. Housing projects registered after January 2023 will be eligible for the rating to be announced every six months starting April 2024 and for this, details from October 1 to March 2024 will be taken into consideration. This rating will be determined automatically by the technology department of MahaRERA based on the information shared by the developers with the regulator. Therefore, it is the sole responsibility of the developers to provide proper information to the regulator and update it as per regulatory provisions, MahaRERA said in a release. The regulator released a detailed consultation paper seeking suggestions and objections regarding the criteria and the rating exercise on June 16. Maharera has now taken the final decision based on the suggestions and objections received in this regard and giving priority to the interests of the consumers.

Roughly a quarter of the Australian economy will be hit hard and fast by generative artificial intelligence (GAI) disruption as highlighted in a report by economists.

Tyro Payments has launched a Supreme Court legal action against Kounta alleging the Canadian-owned company has been attempting to steal Tyro’s payment terminal clients in the hospitality sector.

The Indian banking sector is facing a crisis, with... moreThe Indian banking sector is facing a crisis, with 13 banks shutting down in recent years.