COST Financial News

The Bank of England is cutting interest rates for the first time since the onset of the COVID-19 pandemic in early 2020

The average rate on a 30-year mortgage fell this week to its lowest level since early February, easing borrowing costs for prospective homebuyers facing record-high home prices

DoorDash set quarterly records for total orders and revenue despite slowing U.S. restaurant traffic

Toyota says its April-June profit rose 1.7%, boosted by a favorable exchange rate, as vehicle sales grew around the world despite a certification scandal that halted production in Japan for several months

Amazon has reported a boost in its quarterly profits, but the company missed revenue estimates, sending stocks lower in after-hours trading

Chipmaker Intel Corp. is cutting 15% of its massive workforce as it tries to turn its business around to compete with more successful rivals like Nvidia and AMD

The Parliamentary Budget Officer (PBO) is projecting a $17.4 billion boost in income tax revenues from 2024-’25 to 2028-’29, thanks to the federal government’s latest effort to bolster the nation’s coffers. The policy change, which was introduced in Budget 2024 and came into effect on June 25, increases the capital gains inclusion rate for corporations and trusts from one-half to two-thirds and applies the same rate for individuals on yearly gains exceeding $250,000.

Apollo Global Management Inc. executives sought to allay investor concerns about the performance of alternative investments held at its Athene annuities business after that unit weighed on earnings in the second quarter.

It’s no secret that estate planning is one of the most crucial aspects of financial planning and wealth management. In fact, it is so crucial that there are entire RIA firms devoted to it. Many clients don’t realize why estate planning is important, as many of them believe that preparing for their end-of-life wishes is simply about writing a will – a dangerous misconception.  

₹2.10 lakh to ₹2.20 lakh (ex-showroom), depending on the colour options.In addition to the new colours, the motorcycle features smaller rails around the tank, contributing to weight reduction. A new sticker with ‘ESTD 69’ commemorates Yezdi’s founding year. Furthermore, a new sump guard has been added for enhanced engine protection.On the mechanical front, Yezdi has made several improvements to reduce noise, vibration, and harshness (NVH) levels, enhancing the engine’s refinement.

Mint showed. The price band of Brainbees Solutions Ltd, which runs an omnichannel children's clothing enterprises under the FirstCry brand, has been fixed in the range of ₹440 to ₹465 per equity share of the face value of ₹2. The company has sought a value of $2.9 billion and the IPO comprises a fresh issue of ₹1,666 crore, and an offer-for-sale (OFS) of up to 54 million shares.

unemployment benefits increased to an 11-month high last week, suggesting some softening in the labor market, though claims tend to be volatile around this time of the year. Initial claims for state unemployment benefits increased 14,000 to a seasonally adjusted 249,000 for the week ended July 27, the highest level since August last year, the Labor Department said on Thursday. Economists polled by Reuters had forecast 236,000 claims for the latest week. Claims have been on an upward trend since June, with part of the rise blamed on volatility related to temporary motor vehicle plant shutdowns for retooling and disruptions caused by Hurricane Beryl in Texas.

Some Canadians looking to break into the housing market are now able to get 30-year mortgages, a bid from the Liberal government to make owning a home feel more affordable.

Satwiksairaj Rankireddy and Chirag Shetty's dreams of securing a maiden Olympic medal came crashing down after a heartbreaking three-game loss to Aaron Chia and Soh Wooi Yik of Malaysia in the men's doubles quarterfinals at the Paris Games here on Thursday. One of the favourites for the gold medal, Satwik and Chirag, the reigning Asian Games champions and Commonwealth Games winners, squandered a first-game advantage to go down 21-13 14-21 16-21 in a hard-fought quarterfinal against the world number 3 Malaysians. Aaron and Chia, the 2022 world champions and Tokyo Games bronze winners, will face world number one and top seed Liang Wei Keng and Wang Chang in the semifinals. The Indians entered the contest after stitching three successive wins against the Malaysians in the last three meetings.

opens on Fridayat a scaled-down valuation. The initial public offering (IPO) pricing values India’s largest electric scooter maker at $4 billion, about 25% discount to the valuation based on the last private funding round in September. In fact, the valuation is also sharply lower from as much as $7 billion that news reports had said the company’s founder was initially aiming at, but had received investor pushback.

Read this | Modi vibes well with Trump. But India may not be ready for a second Trump term With the death of Haniyeh, a crucial negotiator for a ceasefire, any de-escalation seems unlikely. Geopolitical analysts warn that the situation could escalate into a global conflict if allies on both sides become involved.

Jay Timmons, president and CEO of the National Association of Manufacturers, talks about what the industry needs from the next administration to keep growing and to maintain global dominance.

Indian banks, grappling with a deepening deposit crunch even after offering higher interest rates in some categories to lure the savings of customers, appear to be resigned to a new normal. With credit growth outpacing deposit growth despite higher interest rates, and a structural shift in the savings habits of customers - who now prefer higher-yielding investments - the proportion of current and savings account (CASA) deposits at banks has shrunk, a situation that may persist for some time.

₹28,990 with no cost EMI, your hunt may be ending. This guide showcases the top 10 picks for everyday computing, ensuring you get the best value without spending a fortune on your next laptop.These laptops, available on Amazon, cater to various needs, from basic computing to more demanding tasks.

Debadatta Chand, CEO & MD, Bank of Baroda, says the bank’s guidance on the NIM has been 3.15% plus-minus 5 bps. And the good part of this quarter, the June quarter results is that we maintain the NIM vis-a-vis the last year. The last full year NIM was 3.18 and if you look at the June quarter, it is 3.18. So, while there is cost pressure at the industry level, we have managed NIM positively. You have mentioned this 12-14% credit growth guidance for FY25. Considering the growth that you have witnessed this quarter, what is giving you the confidence that we will see a pickup? Debadatta Chand: In the current quarter also we slightly calibrated the advance growth based on the deposit growth. And if you look at the segment of the advances, like the retail is growing more than 20%, the agri and MSME is slightly less than 10%, the corporate was at 2.9%. But within the corporate segment also, the co-corporate which is non-institutional, the growth is 12%. Currently the pipeline is very strong for July onwards and there is a strong pipeline because we wanted to calibrate the corporate advance in line with the deposit which is again possibly better this quarter. Now we have good control over deposit costs. So, I think the guidance of 12-14% that we are giving is quite achievable. The budget is also supportive in terms of MSME growth and in that scenario and earlier also, we have demonstrated that we are growing higher than 12-13%. So that is achievable.

Punjab National Bank on Thursday raised the marginal cost of funds-based lending rate (MCLR) by 0.05 per cent, or 5 basis points, across tenors, making most of the consumer loans costlier.