COST Financial News

Chevron Chairman & CEO Mike Wirth sits down with FOX Business Maria Bartiromo to discuss Americas energy agenda, the demand for data centers and the regulatory environment.

Nest Seekers International chief economist Erin Sykes weighs in as high interest rates continue to hurt the housing market on 'The Bottom Line.'

Independence Day, the Indian national flag is being sold in post offices all around the country as part of the Har Ghar Tiranga Abhiyan 3.0. The Government of India has launched the campaign two years back to encourage all citizens to hoist the National Flag in their houses. The flags are available in India Post from August 1 to August 13, according to the website. On July 28, 2024, the Prime Minister encouraged the public in his most recent Mann Ki Baat episode to hoist the Tiranga at home in observance of Independence Day and to carry on the «Har Ghar Tiranga» tradition, which has seen a significant increase in public participation over the previous two years.

Grasim slipped into the red in the first quarter ended June 2024 as the company reported a loss of Rs 52.12 crore on Friday. The company posted a net profit of Rs 355 crore in the last year period. On a sequential basis, however, the loss reduced from Rs 441 crore reported in the preceding December quarter.

inflation is not yet under control, the RBI's latest assessment warns against a hasty return to monetary accommodation. The conviction that India is insulated from global economic slowdowns and in a growth acceleration phase has also diminished. The RBI now anticipates downside risks to growth due to falling corporate profits and reduced government spending.

₹1,830 crore) to the project. The tenders are yet to be put out for the auctions. Officials at the Ministry of New and Renewable Energy and the Solar Energy Corporation of India (SECI) seemed open to explore further discussions on the matter, said Susana Moreira, executive director and co-chair of the board of H2Global Foundation.

Ashwini Agarwal, Founder, Demeter Advisors, says one way to manage risk for any investor is to run equity exposure in a band. If one is feeling very bullish, one should be at the upper end of the equity exposure band and if one is very bearish, one should be at the lower end of the equity exposure band. One should not be zero equities, even if very bearish because one could be wrong. Agarwal himself is operating in a band that is closer to the lower end of his equity exposure and is on the upper end of his cash exposure at this point. Usually, the RBI governor is very watchful, ever-careful, and very calculated about the messaging. But yesterday he was very clear that the priority is to contain inflation and prescribed markers so that the durability of growth can be ensured. He also went after grey areas of credit like top-up loans. How do the lenders look? They have been underperforming for a long time. Ashwini Agarwal: I think RBI has done a stellar job of communicating its policy stance and its objectives. If you think about what the Street was expecting ahead of the policy announcement and what was finally delivered, there is absolutely zero difference. Nobody expected any rate cuts, nobody expected any signalling. The RBI governor has been very clear that it is inflation that he wishes to target and till the inflation is firmly out of the way, there is no question of interest rates being rolled back or liquidity becoming a little more accommodative.

There are additional offers available for SBI credit card owners, wherein they can avail 10% instant discount of up to Rs.3,000 on credit card payments and EMI transactions. You also win a cashback of a minimum of Rs. 750 on Amazon UPI. Want to get prior access to all the deals? Join Prime now at just Rs.1/ per day.

Even as the US central bank seems set to pivot to monetary easing soon, the Reserve Bank of India (RBI) appears in no hurry to do likewise. Its Monetary Policy Committee’s (MPC) decision on Thursday showed no sign of softening its inflation focus. Not only did it leave the central bank’s repo rate—through which it modulates short-term lending to regular banks—unchanged for the ninth successive time at 6.5%, it hasn’t budged on its long-held “withdrawal of accommodation" stance.

logistics firm Delhivery’s chief executive Sahil Barua says the economics of deliveries in 10-15 minutes may not be sustainable for categories beyond groceries and fast-moving consumer goods. In an interview with ET’s Pranav Mukul and Samidha Sharma, he says the timelines will start increasing as the cost of quick deliveries becomes apparent. Delhivery, which swung back into a profit for the April-June quarter, is launching a network of shared dark stores for brands and ecommerce players to deliver in 2-4 hours, but will steer clear of instant deliveries, says Barua, who is also an independent director at IPO-bound food and grocery delivery firm Swiggy. Edited excerpts: Revenue growth has been slow for Delhivery over the past year. Is there pressure on your top line? Our express parcel business, which is the ecommerce-linked segment…is reflective of market conditions. Our volume growth could have been slightly higher but last year, Meesho launched Valmo (its logistics vertical) and overall volumes for third-party players have been constrained a little bit. We’re relatively less affected given that we don’t have too much dependence on Meesho, but overall volumes available on the third-party side have come down. Plus, this is the period where we have commercial renegotiations with a lot of our customers. So, until that’s done, the volume uplift takes a little bit of time.

₹250 crore on entities failing to prevent data breaches or misuse of the personal data of individuals. The Act was notified last year but rules under the law are yet to be finalised. Read this | Mint Explainer: Concerns around Digital Personal Data Protection law Another executive emphasized the importance of releasing the DPDP rules to avoid regulatory ambiguity.

The average rate on a 30-year mortgage fell this week to its lowest level in more than a year

A recent pullback in mortgage rates is spurring more homeowners to refinance their home loan and lower their monthly payments

In the year since the Lahaina fires on Maui, the Council for Native Hawaiian Advancement has helped more than 6,000 families through a robust recovery project

Delta Air Lines is facing a class action lawsuit, which claims the airline refused to give refunds following a global technology outage last month

While the members of Team USA get to enjoy their fair share of pride, praise and prestige at this year’s Paris Olympics, it’s a costly journey for many who have to take on substantial debt and finance their own training in pursuit of excellence.

Anand Mahindra has hinted at the upcoming launch of much anticipated BSA Goldstar 650. His post, accompanied by the date "AUGUST 15TH @bsamotorcyclein," has sparked excitement among motorcycle enthusiasts.Adding to the anticipation, BSA Motorcycles India recently shared a cryptic image on its X account, featuring the Goldstar 650 in silhouette and the caption "Riding on 15th August." This suggests that the much-anticipated bike is set for its Indian debut on the same day.According to a report by Bikewale, Classic Legends is poised to introduce BSA's revered nameplate to the Indian market. The Goldstar 650 will mark the first product under the BSA brand in India, following its international release.

Jindal Steel and Power Ltd (JSPL) on Thursday said the company has diversified its coking coal sourcing, thus reducing dependence on Australia for the key raw material by over 50 per cent. The initiative will aid in reducing the overall cost involved in manufacturing steel, the company said in a regulatory filing. The development assumes significance as the government was making efforts to reduce India's dependence on a select group of countries for meeting coking coal requirements. Indian steel players were making bulk purchases of coking coal from Australia due to unavailability of coking coal in the domestic market. Alternate sources will improve its timely availability and reduce logistic costs. This initiative has significantly reduced the company's consumption of Australian coking coal by more than 50 per cent, the company said.

Reserve Bank of India deputy governor Michael Patra, ten days after the central bank excluded new issuances of 14-year and 30-year sovereign bonds from the Fully Accessible Route. “All the existing securities issued are available for FAR investment. So, that makes Rs 41 lakh crore of available investment, of which investment today is only Rs 2 lakh crore. There’s an ample amount of space to go,” Patra said at a press conference after the RBI’s monetary policy statement on Thursday.

Haryana government on Thursday approved a proposal to give Rs 2,000 per acre as a bonus to farmers for their Kharif crops in the wake of less rainfall in the state. A decision to this effect was taken in the state Cabinet meeting chaired by Chief Minister Nayab Singh Saini here. Speaking to the media after the meeting, Saini said the state witnessed less rainfall in May, June and July this year as compared to the corresponding period last year. Because of less rainfall this year, farmers have to incur more cost for crops, he said.

The recent amendment to the Finance Bill, which offers the choice of a 20% LTCG tax with indexation or a 12.5% tax without indexation forproperty deals before 23 July, is a welcome change.