COST Financial News

₹0.55. “The advantage of borrowing in a currency that is expected to depreciate is that the borrower has to repay that much less," said Anindya Banerjee, vice-president of currency derivatives and interest rate derivatives at Kotak Securities. At the same time, Banerjee warns that what matters is not how much that particular currency has moved in the past, but how it is expected to behave in the future.

Tips Industries' net profit increased by 61% to Rs 44 crore for the quarter ended June due to robust revenue growth and efficient content investment. Operating profit was up 55% to Rs 54 crore. Revenue from operations jumped 40% to Rs 74 crore. The company's YouTube subscriber base reached 104 million, with views increasing 29% to 62.2 billion.

CBDT chairman Ravi Agarwal said the new capital gains provision will be beneficial to prospective home buyers and investors, as they will have to pay substantially less tax than earlier even without indexation benefits if they sell the property after two years at a higher price.

cost indexation in property transactions, although simpler to administer and resulting in lower capital gains tax, may adversely impact slower markets, typically smaller towns and less desirable districts of large cities. The new tax dispensation favours property investments that yield positive inflation-adjusted returns. Where this condition is not met — housing prices not having grown much faster than prices overall — the homeowner faces an extra tax hurdle in disposing of his property. This could cause greater illiquidity in select micro markets and affect urban growth. The same forces would be at play during a property downcycle, when homeowners may put off decisions to sell, contributing in the process to factors that led to the slump.

The nation’s economy accelerated last quarter at a strong 2.8% annual pace, with consumers and businesses helping drive growth despite the pressure of continually high interest rates

Southwest Airlines plans to drop the open-boarding system it has used for more than 50 years and will start assigning passengers to seats, just like all the other big airlines

Stellantis CEO Carlos Tavares pledged action to tackle problems in North America and elsewhere after reporting a plunge in first-half earnings

Due to warmer temperatures and increasing urbanization, the market for cooling systems is expanding in Africa

Cyprus' energy minister says the future of an electricity cable linking the power grids of Greece, Cyprus and Israel will be settled next month

After getting trounced by their larger rivals for years, some of the smallest stocks on Wall Street have shown much more life recently

Mortgage rates inched higher this week, keeping the average rate on a 30-year mortgage essentially flat and near the 7% range it’s been in most of this year

Shares of Ford Motor Co. are tumbling Thursday after the automaker’s second-quarter adjusted profit badly missed Wall Street’s expectations as it spent more money fixing customers’ cars and trucks

CrowdStrike's July 19 update is estimated to cost $5.4 billion to the US Fortune 500 companies, according to the insurer Parametrix reporter, The Guardian reported on July 24 (BST) as the cybersecurity firm announced to make changes in its system to prevent such a crash from happening again.The estimated financial losses exclude those of Microsoft, whose systems suffered a global operation failure after the update. Sectors like Banking, Healthcare and major airlines, are expected to experience the most impact, according to the insurer Parametrix quoted in the report.According to the report, the total insured losses for non-Microsoft Fortune 500 companies are likely to range from $540 million to $1.08 billion.Multiple industries are struggling to recover from the damage caused by the Crowdstrike outage, which failed payment systems, grounded airlines, and caused a crisis in hospitals.

Canadians with mortgages and those gearing up for a run at the housing market have plenty of decisions to make after back-to-back interest rate cuts from the Bank of Canada.

Mint explains: Employee stock options are taxed in multiple tranches. First, these are taxed when an employee exercises the options and later when the shares are sold. When a company allots options, these need to ‘vest’, or become eligible to be transferred to the employee as shares, over a period of time.

Mint, Ragavan Srinivasan, vice-president of product and the head of its Llama models at Meta, said that the company’s open-source approach to AI will define its approach to generative AI for enterprises, going forward. “Building AI models as open-source is good for developers, Meta and the world in general, as we’ve seen with our work on Pytorch and React. Rivals of the Llama foundational model are all proprietary, which means that enterprises have to develop their AI applications based on the terms defined by the companies making the models.

apparel and footwear may become a larger part of the global sourcing for brands like Zara, H&M, Marks and Spencer and Gap with finance minister Nirmala Sitharaman announcing a lot of exemptions on import duties of raw materials for apparel and footwear only when they are further exported. Local manufacturers said this will make the Indian produce price competitive in the global market compared to Bangladesh, Vietnam, Cambodia, China, and Southeast Asian nations.

CrowdStrike’s disastrous software update ought to put its financial reporting, not just its product issues, under an unwelcome spotlight. Take, for instance, a self-defined measure that the cybersecurity giant calls “annual recurring revenue," or ARR. This isn’t revenue using that term’s standard definition under accounting rules, but it is among CrowdStrike’s most prominent headline numbers and one on which management has trained investors and securities analysts to place great emphasis.

JK Cement have reinforced analysts’ optimism about the company’s ability to perform better than its peers. The company’s first quarter numbers were in line with analysts’ estimates. In a quarter where demand was affected due to slow down in construction activities, heat wave and labour shortage, the company’s net sales grew by 1% year-on-year to Rs2,719 crore. Net profit grew by 67% to Rs185 crore. A focus on expansion and tighter cost control are the two major factors that set JK Cement apart from mid-tier peers. Capacity expansion has helped the company gain market share in various geographies. At present, over 60% of its cement capacity caters to the northern region followed by 19% and 16% to the central and the southern regions respectively. The remaining 5% capacity is sold in the western region. In its post earnings’ conference call, the company announced a plan to increase capacity two-folds by FY30 from the present capacity of 24MT.

Additionally, the revenue for the same quarter for the commercial office segment reached Rs 797 crore, reflecting 4 % growth compared to the previous year.

Aviation Minister Ram Mohan Naidu Kinjarapu on Thursday promised to conduct an inquiry into allegations of abrupt fare hike when MPs try to book tickets on Air Vistara airline, following complaints by MPs and a nudge by Lok Sabha Speaker Om Birla. Raising the issue during Question Hour in Lok Sabha through a supplementary question, DMK member Dayanidhi Maran alleged that whenever he tries to book ticket on Air Vistara for the Chennai-Delhi route, initially it shows a price in the range of around Rs 25,000.