COST Financial News

Red Lobster says it is closing nearly 50 of its restaurants in the U.S. The locations span across more than 20 states — cutting back on Red Lobster’s presence in cities like Denver, San Antonio, Indianapolis and Sacramento

Dozens of Red Lobster locations across the U.S. are now on the chopping block

Federal Reserve Chair Jerome Powell said Tuesday that the central bank is unlikely to raise its key interest rate in response to signs of stubborn inflation and underscored his view that price increases would soon start to cool again

Home Depot’s sales continued to soften in the first quarter as the nation’s largest home improvement retailer not only was constrained by high mortgage rates and customers dealing with inflation concerns, but it also had to deal with a delayed start to...

Child care has long been expensive for families, hard to find and financially precarious for day care owners and workers

Federal Reserve Chair Jerome Powell reiterated Tuesday that inflation is falling more slowly than expected and will keep the central bank on hold for an extended period.

HDFC Bank spends 6-7 per cent of its overall expenses on technology-related aspects every year, a senior official said on Tuesday. Parag Rao, HDFC Bank head for payments and consumer finance, said the bank has been investing in digital capabilities amid "cloudification", where tasks are moved to the cloud. The comments come amid greater regulatory scrutiny on the technology front. «We spend about 6-7 per cent of our overall expenses on technology,» he told reporters here on the sidelines of a digital credit card launch of the bank.

Bolvin Wealth Management Group President Gina Bolvin discusses the move in commodities, expected inflation data, the housing industry and her outlook for consumers.

₹300-400 crore. "The key strategic priorities should help the company in charting a new, less capital-intensive and incrementally-profitable growth path. Our endeavour is to redefine our growth strategy, focus on fixed cost reduction, thus improving profitability, resulting in enhanced return on capital and free cash flow generation," Ajay Bijli, managing director, PVR Inox Ltd, said in a statement.

The hash rate of the Bitcoin network has experienced a significant decline as mining firms are shutting down unprofitable mining rigs following the fourth Bitcoin halving.

De Beers Group’s wholly-owned lab-grown diamond jewellery brand, Lightbox Jewelry, today announced a permanent price reduction to as low as $500 per carat, from a previous price of $800 per carat, for the brand’s Standard range of lab-grown diamonds. The price reduction follows months of testing lower prices and researching the lab-grown diamond jewellery sector. The brand will now have three linear price points – $500 per carat for IJ colour stones, $600 per carat for GH colour stones and $900 per carat for the highest quality stones of DEF colour, reduced from $1,500 per carat. All stones have a guaranteed minimum ‘very good’ cut and VS clarity, with the DEF stones to feature ‘excellent’ cut. Sandrine Conseiller, Chief Executive Officer of De Beers Brands, said: “The wholesale prices of lab-grown diamonds in the jewellery sector continue to decline, and we are pleased to pass on these savings to our customers. These lower prices will ensure that the brand remains competitive within this fast-evolving sector, while continuing to offer high quality lab-grown diamonds produced with 100 per cent renewable energy. Lightbox has always been committed to linear pricing, reflecting the linear cost of production, and to being transparent about what lab-grown diamonds are – and just as importantly – what they are not.

Telangana. According to the police, the infant's mother had stepped out of their one-room house to attend to household chores when the dog entered and attacked the sleeping baby, resulting in the child's immediate death. The child's parents work at a stone polishing unit. The dog is often fed by the residents of the locality. Angry over the incident, they killed the dog, police said.

Swedish financial technology company Klarna said Tuesday that nearly 9 out of 10 employees in its 5,000-strong workforce are now using generative artificial intelligence tools in their daily work.

 Jason Furman, former National Economic Council chair under Obama, says there is nothing structural about inflation on 'Barron's Roundtable.'

'Permanent Distortion' author Nomi Prins argues Fed policy is adversely affecting everyone on 'Making Money.'

Jindal Steel & Power Ltd. with a target price of Rs 987.0. The current market price of Jindal Steel & Power Ltd. is Rs 976.75 . Jindal Steel & Power Ltd., incorporated in the year 1979, is a Mid Cap company (having a market cap of Rs 95816.87 Crore) operating in Metals — Ferrous sector.

Comedian Shyam Rangeela, who announced to contest against PM Narendra Modi, has alleged that officials are not letting him file nomination papers. Rangeela said that he is facing hurdles in his attempt to file nomination papers for the upcoming 2024 Lok Sabha Elections. Rangeela, known for his mimicry and satirical acts, aimed to challenge Prime Minister Narendra Modi from the Varanasi seat by running as an Independent candidate. Despite repeated efforts since May 10, Rangeela claimed he was refused entry to the district magistrate's office on the day Prime Minister Modi filed his nomination. He also clarified that he wouldn't be assembling a team from Sriganganagar to contest the elections in Varanasi. Expressing his determination, Rangeela stated, «Winning or losing is a different matter, but I will contest the elections against the Prime Minister at any cost. I am not contesting elections to become famous, I am already very famous among the public.»

Zomato with a target price of Rs 230. The current market price of Zomato is Rs 186.5. Zomato, incorporated in the year 2010 (having a market cap of Rs 170978.71 crore) operates in Services sector.

Blinkit turned adjusted-Ebitda-positive for the first-time in March. Zomato arrives at adjusted Ebitda by adding employee stock option (Esop) expenses and subtracting lease rentals. Note that in the fourth quarter of FY24, Blinkit posted an Ebitda loss even as quick-commerce gross order value (GOV) continued to grow, rising 14% sequentially.

profit expectations. However, growth has primarily been led by the BFSI and Automobile sectors. The earnings growth was fuelled by the domestic cyclicals, such as BFSI and Auto.

Small-cap stock below ₹50: According to the latest market data, Gujarat Toolroom shares have been in an uptrend since the early morning session on Tuesday. Today, the share price opened upside at ₹24.12 apiece on BSE and touched an intraday high of ₹26.29 apiece on BSE.