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Commerce and Industry Minister, Piyush Goyal raised concern about the functioning of the E-commerce sector, saying that E-commerce is eating into the small retailers by giving heavy discounts on products. Goyal charged E-commerce players with predatory pricing and not giving a level playing field to small retailers. Speaking at an event for the Report Launch on 'Net Impact of E-Commerce on Employment and Consumer Welfare in India Goyal said, «What does e-commerce do we all think that?, they are making things so much cheaper. If I go to a store and buy a five-star chocolate or a box of chocolates, It's going to cost me 500 rupees. I can get it delivered on e-commerce for 350 rupees. It's because that's the item that had the largest margin. E-commerce is eating into the small retailers, high value, high margin products, which are the only products through which it survives.»

MUMBAI : NMDC Ltd clocked an Ebitda growth of 18% year-on-year (y-o-y) for the June quarter (Q1FY25), beating Street’s estimates. This growth was driven by higher realisation, up 9.3%, lower royalty expenses and other operating costs. However, the company faces near-term headwinds, with the recent cut in prices reflecting global supply overhang.

₹3,119 per gram then, according to the India Bullion and Jewellers Association Ltd. That gold was redeemed this year at ₹7,190 per gram. In effect, the government will pay 13.5-14% compounded on the SGBs redeemed this year, given around 11% CAGR of gold prices plus the interest.

TOKYO : Japan’s balance of trade fell back into the red in July, with the yen’s recent appreciation dimming the outlook for the nation’s exports. Japan posted a trade deficit of 621.8 billion yen for July, equivalent to $4.28 billion. That followed a 224 billion yen surplus in June, Ministry of Finance data showed Wednesday, and compared with the 359.1 billion yen deficit expected by economists polled by data provider Quick.

Defence Minister Rajnath Singh will embark on a four-day visit to the US beginning August 23 to strengthen the India-US Comprehensive Global Strategic Partnership. During the visit, Singh will engage in talks with US Defence Secretary Lloyd Austin and National Security Advisor Jake Sullivan, focusing on key defence cooperation initiatives, including the procurement of 31 MQ-9B Predator drones, joint manufacturing of Stryker infantry combat vehicles, and the co-production of GE F414 engines in India. The Defence Ministry announced that Singh's visit aims to deepen and broaden the India-US Comprehensive Global Strategic Partnership, in light of the growing momentum in bilateral relations and defence engagements. Officials highlighted the significance of Singh’s meetings, noting that the Indian Defence Acquisition Council (DAC) has recently cleared the MQ-9B Predator drone deal with certain amendments, and the Indian Navy’s partnership with HawkEye 360 as part of the QUAD Indo-Pacific Partnership of Maritime Domain Awareness (IPMDA). “The visit is expected to further deepen and broaden the India-US Comprehensive Global Strategic Partnership,” the Defence Ministry stated while announcing Singh’s trip to the US from August 23 to 26.

Rivian's head of manufacturing is leaving the electric vehicle startup to join Stellantis at a time when the maker of Jeep SUVs and Ram pickups is preparing to launch a number of battery powered cars. Tim Fallon will join Stellantis as its head of manufacturing in North America effective Sept 2, Stellantis said in a statement. Rivian, known for its R1S SUVs and R1T pickups, appointed its head of logistics Carlo Materazzo, a former Stellantis executive, to oversee production in the interim, CEO RJ Scaringe said in an internal email seen by Reuters.

₹21,381 crore, with investment income at ₹11,908 crore, and revenue surplus after tax at ₹24,559 crore. As an insurance company, it has an actuarial valuation for liability as of 31 March 2023 at ₹12,174 crore, but surplus collection to date beyond actuarial liability totalled ₹1,57,427 crore. The total funds available with the Deposit Insurance Fund are ₹1,69,602 crore, or 2.02% of the total insured amount.

Former JPMorgan Chase chief economist Anthony Chan reacts to Kamala Harris saying it will be her 'Day One priority' to bring down prices despite already being in office on 'Varney & Co.'

Prince Andrew's private security contract is going to expire this fall, and it is apparently not being renewed by King Charles III. Due to the lack of a replacement detail, this decision leaves the Duke of York without security. Following the prince's loss of police protection in 2022, The Sun on Sunday disclosed that King Charles has been paying Andrew's security expenses at Royal Lodge. The annual cost to the monarch of this security agreement is close to $4 million, as per the reports of Yahoo entertainment. There seems to be uncertainty about Prince Andrew's stay at Royal Lodge. Andrew paid almost $9 million for extensive modifications to the home, which was formerly owned by the Queen Mother, after he bought it in 2003. The annual maintenance expenditures are expected to be $503,000, while Andrew only pays roughly $337,000 in rent. At almost $37 million, the Royal Lodge is considered valuable. The property lease is arranged so that upon Andrew's passing, it will only be transferred to his daughters, Princess Beatrice and Princess Eugenie. Also Read: Astronauts Butch Wilmore and Sunita Williams are stuck in space

Small business owners overall are feeling positive about their business and achieving the goals they set for this year despite inflation and high labor costs, according to two new surveys

Kenya’s new finance minister says some of the proposed taxes that led to weeks of deadly protests earlier this year will be reintroduced through a tax amendment bill as the country struggles to find revenue to pay off debts

Ipca Laboratories is gearing up to make a strong return to the US generics business, with regulatory issues over its manufacturing facilities now behind, and integration of Unichem. The Mumbai-based drug maker is aiming for consolidated US revenue of $200 million (₹1,675 crore) in the next 12-18 months, managing director Ajit Kumar Jain told ET in an interview. The US business of Unichem clocked around $120 million revenue in FY24. While Ipca doesn't give a separate break up of its US revenue, it is quite small. «The US...we were there, but because of regulatory issues it took us some time to get those (regulatory) clearances; now all our plants have cleared,» Jain said.

economic agenda at a campaign rally in North Carolina, a Republican swing state, focusing on lowering costs, and hoping to usher in what she called an 'opportunity economy' — 'Everyone, regardless of who they are or where they start, has an opportunity to build wealth for themselves and their children.' Harris' proposed economic plan follows up Bidenomics. Except that this time around, Harris — and Trump, in his own way — has embraced the idea of a strong federal government that would use its authority to manipulate markets to create a more robust and wealthy economy. However, neither Harris not Trump has, till date, presented a thorough policy framework. Harris has called for a reduction in the price of food, housing, medicine and other living expenses. A large portion of Joe Biden's last presidential budget — and brief re-election campaign — are being expanded upon by Harris. The strategy calls for significant tax hikes on corporations and high earners to support middle-class and low-income workers. Simultaneously, it offers substantial tax advantages to businesses involved in activities that Democrats believe yield significant economic benefits, such as building affordable housing, or developing technologies required to combat global warming.

The latest child benefits are going out to Canadian parents on Tuesday after a routine increase in monthly payments last month.

Supreme Court on Tuesday gave a go ahead to the liquidator to conduct auction of the assets of Samrudhhi Realty to recover debt of around Rs 5,000 crore. However, a bench led by Justice Abhay S Oka said that if an auction of any of the assets of Essel Finance Advisors and Managers LLP is conducted, it will be subject to the final outcome of the appeal. Essel Finance had challenged the NCLAT's order that «erroneously» dismissed its appeal and upheld the NCLT's May 2024 order directing it to defray their portion of the liquidation process costs.

Electric vehicles may save consumers money over the long-term relative to traditional gasoline-powered cars.

Julijonas Urbonas in 2010, the Euthanasia Coaster has been dubbed the «world's most dangerous roller coaster.» This rollercoaster was created to give passengers a terminal experience, but it also has a deadly and exhilarating aspect that might cost their life. The idea involves a 500-meter-high, steep lift that gives passengers only a split second to think before boarding the deadly ride, as per the reports of The Mirror.

Mint spoke with say that the business class should be looked at in the context of the airline’s larger plan to focus on improving yields or average revenue per seat. It is also looking to expand globally through the Airbus 321XLR, which is likely to be inducted next year, and the Airbus 350, which is likely to join in 2027. Emails sent to IndiGo and Airbus seeking an official response on the recent development had not elicited any replies at the time of publishing.

The annual rate of inflation cooled to 2.5 per cent in July, Statistics Canada said Tuesday, the slowest pace for price growth since March 2021.

The longer the cost of living remains elevated, the more typical Americans are having to cut back on their spending.