COST Financial News

Penn Mutual Asset Management CIO Mark Heppenstall joins ‘Mornings with Maria’ with his perspective on several U.S. economy headlines.

mining retrospectively from April 1, 2005, experts have been arguing that operating costs of Indian mining companies are likely to rise significantly post the apex court ruling. Financial advisory firm Ambit Capital, however, citing a precedent, argues that there is a silver bullet that could somewhat minimize the net impact to companies from prospective dues. The financial advisory firm says that the Union Government can lower the royalty rate on mining to compensate companies.

₹305 crore from Larsen & Toubro. However, analysts are unsure about the optimism. The contract is to manufacture opto-electronic components for L&T’s close-in weapon system programme, a critical component of the Indian navy’s defence infrastructure.

₹576 crore, which was below estimates. Rapid store expansion caused standalone revenue per square foot to drop 10% to ₹4,500. Also read: Cement prices are at a multi-year low, and there’s more earnings pain ahead A silver lining is the shift towards premium products, with 54% of sales now from products priced above ₹3,000, against 50% in the March quarter.

Mint. "It is part of our strategy, and perhaps we may do it earlier than planned. A clear indication from the regulator is that if you can do a particular business in the bank, you should not be doing the business in a subsidiary.

₹1,500 each into the bank accounts of many beneficiaries of the Mukhya Mantri Majhi Ladki Bahin Yojana. The scheme pays out that amount each month to women in the age group of 21 to 60 with an annual household income of less than ₹2.5 lakh. News reports suggest that 1.6 crore women have applied for the benefit.

₹1—no physical doctor’s time can be this affordable," Pratyush Kumar, cofounder of Sarvam and adjunct faculty at Indian Institute of Technology (IIT), Madras, told Mint last month. “Instead of taking clientele away from doctors, in India, such domain-specific AI models can make healthcare more accessible to a wide population base." The approach Sarvam, Adya.ai and some of their peers are taking marks a sobering change after an initial AI euphoria to create general purpose generative AI models.

Mike Lynch, the British tech magnate, and five other people were missing after their luxury superyacht sank during a freak storm off Sicily early Monday, Italy’s civil protection and authorities said. Lynch’s wife and 14 other people survived. Lynch was among six people who remain unaccounted for after their chartered sailboat sank off Porticello, near Palermo, sometime after 4 a.m. A tornado over the water known as a waterspout had struck the area overnight, said Salvo Cocina of Sicily’s civil protection agency. One body was recovered, and police divers spent the day trying to reach the hull of the ship, which was resting at a depth of 50 meters (163 feet) off Porticello where it had been anchored, rescue authorities said. They returned to the site after 10 p.m. to see if it would be possible to search through the night, when weather conditions were expected to worsen, said Luca Cari, spokesman of the fire rescue service.

Many economists are expecting that July inflation data coming this week won’t dissuade the Bank of Canada from another interest rate cut at its next decision in September.

capacity utilisation, improved profitability of corporates, sustained credit demand, business optimism and government’s thrust on infrastructure development, is likely to increase the pipeline for project finance. An article in the Reserve Bank of India’s (RBI) monthly bulletin estimates that envisaged capex will increase significantly to Rs 2.45 lakh crore in 2024-25 from Rs 1.59 lakh crore in 2023-24. “The significant rise in envisaged capital investment of private corporates, based on the projects sanctioned by banks and financial institutions (FIs) during 2023-24, points to upbeat investment cycle. The total cost of projects sanctioned by banks/FIs increased to a record high of Rs3.90 lakh crore. Infrastructure sector continued to attract the major share of envisaged capital investment, led by ‘roads & bridges’ and ‘power’ sectors, reflecting the government push towards infrastructure development,” said an article from officials of RBI’s Department of Statistics and Information Management. The article said that healthy corporate and bank balance sheets, improved corporate profitability, sustained credit demand, rising capacity utilisation, and optimism in business provide conducive environment for private corporates to undertake investments going forward.

RBI) may need to continue with disinflationary monetary policy and it has to remain cautious as the pressure stemming from persistently high food prices is spilling over into other components of inflation and shaping household perceptions on prices, a central bank article said. «Food price shocks may lie outside the realm of monetary policy, but when they result in food inflation acquiring persistence and spilling over into other components of inflation and into consumer behaviour, the monetary policy must be disinflationary to quell these price pressures in order to achieve its mandate of price stability and thereby retain credibility,» deputy governor Michael Debabrata Patra said in the article, co-authored by Joice John and Asish Thomas George. They said that the country is facing the danger of losing the beneficial effects of low core inflation if food prices cannot be anchored. Core inflation has been restrained through monetary policy tightening.

markets regulator said on Monday. The regulator introduced the Sebi Settlement Scheme, 2022, allowing entities to settle their cases. After the scheme closed, the regulator continued legal proceedings against those who did not participate. Some of these entities challenged the decisions by appealing to the Securities Appellate Tribunal (SAT). During a hearing in September 2023, the Tribunal directed that if a new settlement scheme is introduced in the future, the appellants would be eligible to benefit from it, and the scheme would cover their cases.

Former Council of Economic Advisers chair Kevin Hassett reacts to Vice President Kamala Harris' economic plan and price controls proposal on 'The Evening Edit.' 

The Bank of Canada is expected to cut its policy rate at its next meeting in September, something that will become even more likely if economists’ predictions that inflation continued to cool last month come true.

Tether Operations, the issuer of the world’s largest stablecoin, has announced its plan to launch U.S. dollar-pegged Tether tokens (USDT) on the Aptos Network.

IRCTC’s journey can be pleasant if non-convenience fee surprises At an all-India level, the average cement price fell around 3% month-on-month in July to five-year low of ₹313 per bag, according to IIFL Securities Ltd. One cement bag weighs 50 kilograms. Cement prices have fallen further in August in southern markets – by ₹10-15 a bag – while prices are steady in other markets, said the IIFL report dated 9 August.

telcos' demand to bring OTTs under a licensing or authorisation regime, stating that apps are already regulated under the Information Technology Act (2000). Industry bodies representing the OTT players, in response to the Telecom Regulatory Authority of India’s (TRAI) consultation paper seeking inputs on service authorisations under the newly passed Telecommunications Act, have cautioned against bringing the apps under regulation. “From a technical perspective, TSPs (telecom service providers) operate on the network side, while OTT providers operate on the application layer. Therefore, there is a clear distinction in the operational and technical and nature of OTT service providers and TSPs,” said the Internet and Mobile Association of India (IAMAI) in its counter comments to the consultation paper, adding that OTT services do not fall within the scope of the telecom act.

Deposit growth is the Indian banking sector’s biggest challenge as customers choose from an increasingly diverse range of investment alternatives, according to Shalini Warrier, retail business head at Federal Bank Ltd. “There is no silver bullet for this,” Warrier said on Bloomberg TV Monday. When “fixed deposit rates don’t go up as much as customers would like them, they look for alternates.” Deposit growth has lagged strong demand for credit in India for several quarters now, prompting top officials to weigh in. Finance Minister Nirmala Sitharaman and Shaktikanta Das, governor at the Reserve Bank of India, has urged banks to innovate in order to increase their deposits as household savings shift to investment products.

My feed of Instagram reels and YouTube shorts is full of videos featuring financial influencers(finfluencer) telling the world at large that it is easy make quick money from the stock market. Recently, I came across a video in which a 13-year old claimed to be the world’s youngest successful options trader on an influencer’s YouTube channel, saying that she earned “36-40%" annually from options trading.

trade war between the world's two largest economies, Easy Signs would now be hiring dozens of workers at its factory in Allentown, Pennsylvania. It would be readying plans to build a second plant somewhere out West — Salt Lake City was a contender — generating another 100 jobs. Based in Australia, Easy Signs manufactures banners and marketing installations for corporate events, using huge printers to press logos and slogans onto rolls of cloth. Its American business has been growing 70% a year. Still, the company is putting off an expansion. Its cloth signs are displayed on aluminum stands made in China. Those products are now subject to a series of tariffs reaching as high as 365% under a policy set in motion by former President Donald Trump and continued by the Biden administration in the name of protecting American industry from Chinese government subsidies.

Zomato on Monday jumped 6% to hit a fresh 52-week high of Rs 280 on BSE after the global brokerage firm UBS raised the target price on the new-age stock from Rs 260 to Rs 320. «We increase our GMV estimates for food delivery (+2-3%) and quick commerce (+20-30%) for FY26-28e following the strong Q1 and solid guidance. Our adj EBITDA estimates for the next 1-2 years are up only slightly as investments in building supply for quick commerce will likely result in a more modest margin trajectory,» UBS said in a note while maintaining a buy call.