COST Financial News

Thousands of Colombians have taken to the streets in the latest rebuke of leftist President Gustavo Petro’s reform agenda

Tata Consultancy Services (TCS), Infosys and Wipro saw their wage cost in FY24 increase by more than 5.5% on average from the previous year, even as their year-on-year revenue growth slowed, averaging 3.6%. Their cumulative wage cost went up by Rs 18,036 crore in FY24, which experts attributed to continuity in lateral hiring in high-demand areas such as artificial intelligence (AI), machine learning (ML), and cloud and engineering services, coupled with the salary increments, even though they are in the lower single digits.

Mahendra Patil, a senior civil judge in Maharashtra, had his vehicle registration rejected despite submitting his official ID card which he believed was the only requirement for compliance. Upon inquiry, he discovered that his application did not meet additional conditions set forth in a circular issued by the transport commissioner in February 2024, leading to the rejection of his registration under the BH series. According to the disputed circular, any government employee applying for a BH series vehicle registration is required to provide not only their official identity card but also a certificate verifying their presence in other states, including details of offices they have there, stays during their tenure, and payment slips from such periods. In his legal challenge, Mahendra Patil argued that the transport commissioner lacked the authority to impose these additional requirements, which he claimed contradicted the guidelines established by the Central government. Patil's lawsuit sought the annulment of the transport commissioner's circular and demanded that his vehicle be registered under the BH series. He asserted that he had met all the conditions specified in the Central Motor Vehicles (Twentieth Amendment) Rules of 2021 for such registrations.

Edited excerpts: The intention of regulation is to create checks and balances in the market where there is a significant rise, driven either by flows or by a huge participation coming from high networth individuals (HNIs) and retail. Some elements of checks and balances need to be created. Whatever the noise emanating from the regulation is more intended towards that (checks and balances) so that people don't assume that the market will continue to rise.

Amit Premchandani, Senior Vice President and Fund Manager – Equity of UTI AMC is positive about the BFSI (banking, financial services and insurance) sector due to impressive loan growth, robust asset quality and adequate liquidity. He is also neutral to positive on the IT sector and believes value is emerging in the large-cap IT space. In an interview with Mint, Premchandani also shared his views on how the General Election outcome could impact the domestic market and what should investors do with mid and small-cap segments.

resolution plan proposed by the Jalan-Kalrock consortium for the bankrupt airline. In its order last month, the NCLAT had directed the airline's lenders to transfer the company to its successful bidder, the Jalan-Kalrock consortium (JKC), within 90 days. A Supreme Court bench, headed by Chief Justice D.Y.

New York lawmakers have approved a $237 billion state budget that includes plans to spur housing construction, combat unlicensed marijuana stores and address the migrant crisis

Creditors to Lavasa Corp invoked the ₹25-crore performance bank guarantee (PGB) by Darwin Platform Infrastructure (DPIL) earlier this month, citing non-compliance of the corporate insolvency resolution process (CIRP) timeline. This came nine months after the National Company Law Tribunal had approved the transaction. The invocation of the guarantee means that the monitoring committee to implement the plan has now been dissolved and the CIRP process has been halted, putting the decision on the future of the private hill town project back before the NCLT. «Lenders took a decision to invoke the guarantee because there was no movement on completion of the deal from Darwin. The upfront payment of ₹100 crore had to come within 90 days from NCLT order, which came in July, which is long overdue. Lead lender Union Bank has expressed its no confidence in the resolution applicant, so this was a logical move,» said a person familiar with the process.

Companies are increasingly investing in office fit-out, prioritising higher specifications to enhance employee engagement and wellbeing, aiming to boost attendance, retention and attract new talent, according to experts. Data from Savills India shows a significant shift in office fit-outs, with about 35% now categorised as standard, 50% as mid-grade and 15% as high-grade, compared with pre-pandemic figures of 60%, 30%, and 10%, respectively, indicating a growing preference for premium spaces. «This trend supports the hypothesis that office occupiers are placing greater emphasis on higher-spec offices compared to a decade ago, with the aim of attracting and retaining talent by offering superior work environments,» Savills India chief executive Anurag Mathur said.

Federal Reserve officials are about to get further confirmation that inflation progress has stalled, supporting what appears to be a shift in tone to keep interest rates higher for longer than previously anticipated. Policymakers' preferred inflation gauge — the personal consumption expenditures price index — probably stayed elevated in March, according to data due in the coming week.

RedBalloon CEO Andrew Crapuchettes shares insights from a new report, ‘2024: The Toughest Labor Market,’ in a Fox News Digital exclusive.

₹10 per equity share for the financial year ended March 31, 2024. In a stock exchange filing, Reliance Industries Ltd said the board of directors “Recommended a dividend of Rs. 10.00 per equity share of Rs.

Tata Consultancy Services Ltd (TCS) in dampening the spirits of IT investors, as their results for the March quarter (Q4FY24) offer little reassurance about the sector’s near-term prospects. Like TCS, Infosys, too, reported strong deal wins, marking a record high large deal total contract value (TCV) of $17.7 billion for FY24. However, the glaring gap between these deal wins and actual revenue growth highlights a persistent issue with slow deal conversions.

«Government had queries on the plan regarding why do we believe that the market cap will go up and things like that. On the other side, they feel that if the timing is not right, the demerger as an effort may impact the government's effort of divestment in the OFS route,» says Arun Misra, CEO, Hindustan Zinc. Before we dive into your numbers, I want to talk about the big moves that we are seeing in commodity prices globally, be it zinc prices which have risen in the last one month, do you believe that this is the start of a commodity up cycle or maybe just temporary euphoria? No, we always had the news that zinc would hit $3,000 per tonne somewhere around December. So, it was expected that the growth will happen and maybe it is becoming faster than what it was predicted and I believe that it would cross that $3,000 per tonne mark somewhere around August or September. Already, it has touched 2850 and I do not see it coming back anytime soon.

₹100 crore and mother and baby healthcare company The Moms Co for ₹500 crore. The founders and IAN have despatched the notices since they were not paid the last tranche of payments due in January, the people cited above said on condition of anonymity. The Arc first reported that IAN has sent a ‘notice of default’ to the Good Glamm Group’s board.

the Dali, a massive cargo ship that veered off course and caused the deadly catastrophe last month. An estimated 3,000 to 4,000 tons of steel and concrete landed on the ship’s deck after it crashed into one of the bridge’s supporting columns and toppled the span, officials said at a news conference Friday. Crews will have to remove all that before refloating the stationary ship and guiding it back into the Port of Baltimore.

HDFC Bank managing director Sashidhar Jagdishan said the lender «will not be chasing growth for the sake of growth» and «will be delighted even if the margins remain at the current levels». Addressing analysts on Saturday, soon after the bank declared its fourth quarter results, he declined to give any guidance but said the bank will have a positive bias towards growth over the next two to three years. He urged investors to be patient as the bank is going through a transition period following the merger with parent institution Housing Development Finance Corporation last July. Comparing HDFC Bank's transition period to the construction of the coastal road (in Mumbai connecting Marine Drive to Worli), he said: «It's like the coastal road when it was getting built; we were all sort of having a lot of problems with it, we were trying to navigate our traffic around it, but now when it's up and running you know people are so delighted.»

Buffalo Bills owners Terry and Kim Pegula are exploring the possibility of selling a non-controlling, minority interest in the franchise, the team announced

Formula One is often the playground of the rich and the famous. At every glamorous race from Monaco to Montreal, photographs showing the world’s A-list jet set gallivanting around the paddocks give the impression that only those with a royal familysized bank account can attend. But it doesn’t have to be so. Especially in recent years, the sport has worked hard to shed its image and become more accessible. For instance, more circuits now use streets in urban centres rather than purpose-built tracks outside city limits. The intended message seems to be that you can attend a race without spending a king’s ransom. All it takes is a little foresight and creativity. Here are some pointers to get you started:

For the past few years, the global wind industry has been stuck in the doldrums. With rising interest rates and materials costs whittling away developers’ profit margins, and political and economic elites cooling on the energy transition, installations of new turbines went sideways. Even as the electric vehicle and solar industries gathered speed, wind ran into turbulence. The sector was left drenched in red ink, project cancellations, and failed auctions.

In India, gold prices vary by city thanks to several factors such as taxes, shipping costs, purity standards, and local demand and supply. Also read: