COST Financial News

When we think of mortgage competition, we often think of smaller lenders nipping at the big boys’ ankles like angry chihuahuas. That’s happening to a small degree, but there’s something else brewing below the surface that will have an even bigger impact on your future mortgage: open banking.

Premier Doug Ford’s government has signed a $100-million deal with Elon Musk’s SpaceX to deliver high-speed internet to remote residents in rural and northern Ontario.

The average rate on a 30-year mortgage in the U.S. edged lower this week, ending a six-week climb

Advance Auto Parts is closing more than 500 stores and shedding another 200 independent locations

Subscribe to enjoy similar stories. Donald Trump is not India’s No. 1 problem.

Donald Trump's transition team is planning to kill the $7,500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, two sources with direct knowledge of the matter told Reuters. Ending the tax credit could have grave implications for an already stalling U.S. EV transition. And yet representatives of Tesla — by far the nation's biggest EV maker — have told a Trump-transition committee they support ending the subsidy, said the two sources, speaking on condition of anonymity. Tesla CEO Elon Musk, one of Trump's biggest backers and the world's richest person, said in July that killing the subsidy might slightly hurt Tesla sales but would be «devastating» to its U.S. EV competitors, which include legacy automakers such as General Motors.

However, the Bengaluru-based company's net loss widened by 29.6% to Rs 58.6 crore, as per the financials of the company sourced from market intelligence platform Tofler. Founded in 2019 as an affordable omnichannel brand focused on silver jewellery, Ishendra Agarwal-led Giva has expanded into lab grown diamonds and gold jewellery to cater to the evolving consumer fashion demands.

Subscribe to enjoy similar stories. “The concept of risk is completely invented to ensure that investment doesn’t come to Africa," Gagan Gupta told an audience of investors and entrepreneurs earlier this year, to resounding applause. Mr Gupta, whose firm works on logistics and utilities across Africa, is optimistic about the continent and scathing about outsiders’ ability to assess it.

Donald Trump is not India’s No. 1 problem. At least not right now. His hawkish trade policy may well emerge as an outsize threat to supply chains and global growth. But a bigger, more immediate worry for the central bank in Mumbai is tomatoes. Or, to be more specific, a 161% jump last month in tomato prices — due to late and heavy rainfall — from a year ago. With potatoes and onions also becoming dearer, food expenses are out of control. The average cost of a homecooked meal in October — a standard fare of rice, roti, dal, veggies, salad and yoghurt — was the steepest in 14 months, according to CRISIL, an affiliate of S&P Global Inc. The chances of a December rate cut by the Reserve Bank of India were dimming even before the US election. But with inflation spiking above the upper end of the central bank’s tolerance range of 2%-6%, many analysts are ruling out monetary easing before the start of the next financial year in April. By which time, the next American president’s policies would have started to have an effect, particularly on the exchange rate.

Subscribe to enjoy similar stories. The Japanese economy managed to continue growing for a second straight quarter thanks to a recovery in consumption, although the pace slowed amid the impact of natural disasters during the summer. Japan’s gross domestic product expanded 0.2% in the three months to September from the previous quarter, preliminary government data showed Friday.

The former interim chair of Alberta Investment Management Corp. has written a letter to the Alberta cabinet minister who fired him last week to dispute what he calls an “incorrect narrative” and “misinformation” about the performance of the asset manager and Crown corporation.

Subscribe to enjoy similar stories. Having learnt from videos, a da Vinci robot has been replicating surgical procedures like using a needle and suturing. Robots may be a step closer to performing complex surgeries independently—but will humans trust autonomous AI surgeons? Robotic surgeries, especially in the post-covid era, are being routinely done in urology, oncology, nephrology, gynaecology and laproscopy.

[The stream is slated to start at 3 p.m. ET. Please refresh the page if you do not see a player above at that time.]

Vodafone Idea official on Thursday said telecom subscribers consuming more data should pay more to enable the industry to generate reasonable returns and ensure connectivity to all sections of society. During Vodafone Idea (VIL) earning call for the second quarter ended September 30, 2024, the company's CEO Akshaya Moondra said that the loss of subscribers to BSNL due to the recent tariff hike is quickly reversing because of the state-run telecom firm's «network experience». He said that the Indian wireless sector is at a crucial junction.

Subscribe to enjoy similar stories. The giant futuristic planned city of Neom is proving a headache for Saudi Arabia. Costs are up, schedules are delayed and in recent days the world’s largest construction project replaced its chief executive of six years.

Happiest Minds Technologies reported a 15.3% year-on-year (YoY) fall in net profit at Rs 49.5 crore for the September quarter (from Rs 58.5 crore a year ago) dented by higher investment costs during the quarter. Sequentially, the profit fell 3% from the first quarter’s Rs 51 crore profit. Revenue for the second quarter jumped 28.3% YoY and 12.5% quarter-on-quarter (QoQ) to Rs 521.64 crore. The drop in profit was primarily due to salary increments for most of its employees rolled out from July 1, impacting 2.30% of its profitability, the addition investments towards its new sales team and into its GenAI business.

However, the flagship health scheme from government has its own share of limitations which may significantly impact the dependability of this scheme often in critical scenarios. As the Ayushman Bharat PM-JAY scheme is set to cover all senior citizens aged 70 and above, a crucial question arises: should seniors continue paying for private health insurance or rely solely on government coverage? Let's analyse the benefits and drawbacks of both options to help seniors make informed decisions.

British Treasury chief Rachel Reeves is set to announce plans later Thursday to merge dozens of pension funds with the aim of unlocking tens of billions of pounds for investment and boosting the U.K.’s sub-par economic growth

Choosing billionaire Elon Musk to be what President-elect Donald Trump calls “our cost cutter” for the U.S. government, is not the first time an American president has empowered a business tycoon to look for ways to dramatically cut federal regulations

Subscribe to enjoy similar stories. Insurance companies charge hefty premiums for health policies and often revise them upwards to adjust for medical inflation. It comes as a surprise, therefore, if they reject or only partially settle claims linked to modern treatment methods and advanced procedures.

Portugal to its richer European neighbours in the quest for a better-paid job once he completes his master's degree in Lisbon. But tax breaks proposed by Portugal's government for young workers — up to a temporary 100% income tax exemption in some cases — plus help with housing are making him think twice. «Previous governments left young people behind,» said Monteiro, 23, who is studying engineering and industrial management at the Higher Technical Institute in the Portuguese capital. «The country needs us and we want to stay but we need to see signs from the government that they are implementing policies that will help.»