COST Financial News

By Paul Deegan and Kevin Lynch

Airlines must compensate travellers for international flight disruptions based on the Canadian Transportation Agency’s rules, the Supreme Court of Canada ruled in a landmark decision for air passengers.

ICMR has signed a memorandum of understanding with the NTPC Vidyut Vyapar Nigam (NVVN) to promote sustainable energy in healthcare research, in line with Prime Minister Narendra Modi's vision of 'Aatmanirbhar Bharat', an official statement said on Friday. The partnership aims to equip Indian Council of Medical Research (ICMR) institutes across the country with solar power, supporting India's push towards renewable energy and sustainability, the statement issued by the Union health ministry said. Under the agreement, the NVVN will supply, install, test, commission and maintain rooftop solar panels at 15 ICMR institutes with a combined capacity of 4,559 KW. The project also includes a power purchase agreement (PPA) for grid-connected solar projects, offering a fixed solar tariff for the next 25 years to ensure long-term cost efficiency and sustainability for the ICMR's operations, the statement said.

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'Kudlow' panelists Steve Moore and Michael Faulkender react to dockworkers striking over pay and automation.

Realty developer M3M group has repaid Rs 2,473 crore debt between April 1, 2023 till August 31st, 2024, by repaying to lenders such as Pragati Asia Group (PAG), ICICI Bank, IndusInd Bank, L&T Finance, Punjab National Bank, Indiabulls Housing Finance, STCI Finance, and Kotak Mahindra Bank. M3M group’s outstanding debt has been reduced to Rs 2,026 crore as of March 31st, 2024, marking a significant decrease of Rs 1,700 crore from Rs 3,726 crores in the previous year. As of August 31st, 2024, the group's outstanding debt further decreased to Rs 1,302 crore.

America’s employers added a surprisingly strong 254,000 jobs in September, the latest evidence that the U.S. labor market is still solid enough to support steady hiring and a growing economy

Subscribe to enjoy similar stories. Earlier this year, the PGA Tour’s digital chief witnessed ChatGPT make the digital equivalent of a double bogey when the chatbot flubbed a question on basic golf lore: How many times has Tiger Woods won the Tour? Generative AI’s foundation models can be trained on vast troves of data from the internet and other sources, but still lack deep, specific knowledge even on topics as mainstream as golf, Scott Gutterman, the Tour’s senior vice president of digital and broadcast technology, realized. “There’s missing data, there’s generalized data.

Subscribe to enjoy similar stories. Robotaxis might not need drivers. But they still need passengers—lots of them.

Subscribe to enjoy similar stories. Many diseases are the result of choice or circumstance: an unhealthy way of life, toxic living conditions or a chance encounter with a virus or bacterium. Others are predestined—because they are written in the genes.

Subscribe to enjoy similar stories. Shares of National Aluminium Company Ltd (Nalco) hit a new 52-week high of ₹227.39 on the National Stock Exchange on Tuesday, driven by rising alumina prices amid a supply shortage. The global aluminium market has been experiencing widespread disruption across the entire bauxite-alumina-aluminium supply chain.

House of Commons for a full week, and the Conservatives on Thursday said that’s the result of Liberal “corruption.”Conservative House leader Andrew Scheer said the governing party would rather see the House bogged down in debate than produce documents related to misspent government dollars in a program his party has dubbed the “green slush fund.”House Speaker Greg Fergus ruled last Thursday that the government “clearly did not fully comply” with an order from the House to provide documents related to a now-defunct foundation responsible for doling out hundreds of millions of federal dollars for green technology projects.The House has been seized with a debate on the issue ever since and Scheer said it will stay that way until the government agrees to hand over the documents to police.“They’re willing to have Parliament ground to a halt rather than hand over this information to the RCMP for a potential criminal investigation,” Scheer said in an interview Thursday.The RCMP told MPs this summer they likely would not be able to use the documents as part of an investigation, but Scheer said they should have access to all the information before they decide.The Liberals claimed that ordering the production of documents to be handed over to the RCMP blurs the lines between Parliament and the judiciary, and blame Conservatives for the dysfunction in the House.Liberal House leader Karina Gould called the request for the documents an abuse of Parliament’s power that tramples on the Charter rights of Canadians.“Let’s be very clear, this is the Conservatives trying to muck up Parliament,” Gould said Thursday.“Conservative members of Parliament are here for their own political, personal objectives and they don’t care what they do to

More Indians are holidaying abroad than ever before. The Reserve Bank of India’s data on outward foreign remittance in FY24 confirms this, as overseas travel was the primary source of outflows at 53%. This includes business travel as well, but empirical data and reports highlight the current craze among Indians for foreign holidays.

U.S. ports from Maine to Texas have been closed due to a strike by the union representing about 45,000 dockworkers

Subscribe to enjoy similar stories. Binny Bansal-backed PlanetSpark is expanding its focus beyond school students to include white-collar workers, as upskilling for officegoers remains a bright spot in the otherwise struggling edtech sector.

The Toronto Regional Real Estate Board (TRREB) reported a 4.58 per cent year-over-year decline in its benchmark home price for September, bringing it down to $1,068,700. Home sales for the month rose by 8.5 per cent, with 4,996 transactions compared to 4,606 in September of last year.

The average rate on a 30-year mortgage in the U.S. rose to 6.12% this week, the first increase in seven weeks

The International Olympic Committee’s three major Japanese sponsors — Toyota, Panasonic and Bridgestone — are terminating their contracts

Dutch airline KLM has announced a “painful” round of cost-cutting and other measures

India Ratings has said. The agency is seeing continuing pressure on cash flows in certain end-borrower segments, on-field attrition, lower-than-expected recoveries leading to higher write-offs and overleveraging of borrowers in the unsecured business loan portfolio. “While the denominator effect was playing out over most of FY24, the need to recognise the rising delinquencies, provide for them and write-off the same has increased the credit cost pain since 4QFY24,” the agency said.

Reserve Bank of India research paper has suggested reforms in agricultural marketing, including increase of private mandis to help farmers realize better value for their produce. The paper on vegetable inflation studying Tomato, Onion and Potato (TOP) prices noted that onion farmers get only 36 pc of consumers' spends, for tomato it stood at 33 per cent and for potato it was 37 per cent. «As vegetables are perishable commodities, private mandis may be increased to improve transparency in marketing of TOP vegetables,» the paper said, adding that the competition may also help improve the local-level agricultural produce market committee infrastructure. The research suggested that there is «a significant negative relationship» between monthly availability/availability to usage ratio and consumer price inflation of the three vegetables, while controlling for other factors like input costs, rainfall and wages.