COST Financial News

Subscribe to enjoy similar stories. New Delhi: India’s bankruptcy regulator and the central government will consider making mediation mandatory between defaulting companies and their creditors before moving proceedings into bankruptcy courts, two persons informed about the development said.

Check out what's clicking on FoxBusiness.com.

The average rate on a 30-year mortgage in the U.S. eased this week, though it remains near 7% after mostly rising in recent weeks

Two of London’s most famous markets — one selling fish, the other meat — are set to close in the coming years, bringing an end to traditions stretching back to medieval times

Britain’s new Labour government will launch a consultation on sales targets set for auto manufacturers during the transition to electric vehicles

Hyundai is recalling more than 226,000 SUVs and small cars in the U.S. because the rearview camera image may not show up on the screens

Donald Trump loved to use tariffs during his first presidency

U.S. consumers face “significant consequences” from President-elect Donald Trump’s proposed tariffs on Canada, according to Goldman Sachs Group Inc., with the bank casting doubt over its implementation.

In this article

electric vehicles and not just those planning to adopt eco-friendly modes of personal transportation, a senior company executive said. The Mumbai-based automaker on Tuesday made its first full-fledged foray into India's nascent EV market with the introduction of two pure electric models. These are the first two «born electric» models based on the company's latest INGLO vehicle architecture. M&M plans to launch three to five more models based on the same vehicle architecture over the next few years. «We're not targeting EV buyers, but lifestyle buyers. If we target EV buyers, we won't get anywhere. Our target is to convert ICE (internal combustion engine) to lifestyle EVs,» Rajesh Jejurikar, executive director, auto and farm equipment sector, Mahindra & Mahindra, told ET. He said the first thing M&M would want a potential customer to have is the desire to drive its EVs.

Arunachal Frontier Highway connecting 12 districts of the state along the Line of Actual Control (LAC) on the India-China international border, a top official said. The ambitious project to be built at an estimated cost of Rs 40,000 crore is seen as a move to counter China's aggression in Arunachal Pradesh, besides contributing to the socio-economic development of the border state. The highway is being constructed along the 'India-Tibet-China-Myanmar' border and the road project will be as close as 20 km from the LAC and international borders. It will start from Bomdila and pass through Nafra, Huri and Monigong towns, which are closer to the LAC or the McMahon Line, and conclude in Vijaynagar near the India-Myanmar border.

₹20,000, but don’t want to compromise on essentials, the iQOO Z9 is a good option after its recent price cut on Amazon. As of today, the device can be bought for ₹18,498, which is significantly less than its original MRP of ₹24,999 and represents a 26% price drop.

Despite the cumulative 75-basis-point cut by the United States Federal Reserve since September and the 125-basis-point cut by the Bank of Canada since June, the most recent loan officer surveys for both countries showed lending standards actually tightening.

Last week the federal government announced a $4.7-billion tax expenditure, along with a two-month sales tax change that will create severe administrative and logistical nightmares for businesses, and whose effect on federal revenue the government seems to have badly miscalculated. According to economist Trevor Tombe, it will likely cost around $3.0 billion, versus the $1.6 billion the government estimates. Ottawa branded this $7.7-billion package an affordability measure and tax “holiday.” It is nothing of the kind. It is ridiculous nonsense, which this government delivers on a regular basis and is what Canadians really need a holiday from.

One annoying characteristic of Canadian unions is timing strikes to when they will cause the most harm and stress. Twelve days ago, as the busy holiday season approached, Canada Post workers went on strike, leaving small businesses scrambling to make alternative arrangements. Not an easy task, as the cost of FedEx and UPS is prohibitive for many. Purolator, which Canada Post owns, has lower rates, but Teamsters Canada has prohibited its members from handling packages identified as an alternative to Canada Post. As a result, according to the CFIB’s Corrine Pohlmann, “People unsure about delivery timelines are staying away from shopping altogether. It’s just the next big obstacle our members must deal with.”

Gaza, triggered by a Hamas attack on Israel in October last year, and later pulled in Hezbollah too. The ceasefire does not extend to Gaza, where Israel’s military continues to fight Hamas as there is no progress on the release of Israeli hostages held by Hamas. Yet, the ceasefire is a definite turning point in the conflict and raises hope for final resolution. The ceasefire comes as a good news for India not just because India has trade and business interests in the Middle East which will be harmed if a wider war breaks out, but also because a highly ambitious project, which was deferred due to the conflict, can be back on track. The most consequential announcement at last year's G20 Summit in Delhi was the commitment to build a rail-and-port network that will connect India to the Middle-East and the Middle-East to Europe and the US. It has been named the India-Middle East-Europe Economic Corridor (IMEEC). Though no leader from the participating countries mentioned China, it is an obvious alternative to China's Belt and Road Initiative (BRI) that aims to connect the whole world to China through shipping, rail and road networks.

Bank of Canada deputy governor Rhys Mendes says allowing for a period of price declines may sound tempting, but it would ultimately be more painful for Canadians.

Fundstrat Global Advisors managing director Mark Newton shares his market outlook on Mornings with Maria.

While sales of electric vehicles surge in China, the spread of more environmentally friendly vehicles is stumbling in the United States and Europe as carmakers and governments struggle to meet years-old promises about affordability and charging stations

To clarify the taxpayers doubt, the income tax department has released the FAQs on PAN 2.0 project. The FAQs are released by the PIB on November 26, 2024. One of the FAQs talk about taxpayers having more than one PAN, how they can identify and get it cancelled to avoid any penal consequences. Income tax dept issues FAQs on PAN 2.0 project: Check details about applying for new PAN, change PAN number

bribery scandal involving the Adani Group that has come to light in the U.S. According to sources, the state government is not in favor of canceling the deal due to the legal complexities it would entail. Instead, it is considering the possibility of setting up the solar power plant within Andhra Pradesh, which would significantly lower transmission costs. A senior minister in the state government highlighted that if the power were available locally with minimal transmission costs, the rate of Rs 2.49 per unit would be reasonable.