COST Financial News

By Francois Murphy

Apple (NASDAQ:AAPL) stock closed 4% lower at $171.3 after the Department of Justice (DOJ) unveiled its long-anticipated lawsuit against the iPhone maker for violating antitrust regulations. AAPL remains one of the Magnificent Seven laggards in 2024, losing 11% year-to-date, while the broader S&P 500 gained roughly 10% during that period.

NEW DELHI : Robust investment activity and strong private consumption demand will drive the Indian economy in FY25 amid sluggish global growth, the finance ministry on Friday said in its economic review for February. However, challenges such as the impact of the ongoing crisis in the Red Sea and rising crude oil prices loom over the outlook. "Sustained increases in shipping costs due to disruption can drive up inflation.

Russian crude carried on PJSC Sovcomflot tankers due to US sanctions, further complicating the trade that has flourished since the invasion of Ukraine two years ago. Private and state-run processors including the biggest — Indian Oil Corp. — have stopped taking cargoes if they’re on Sovcomflot tankers, said people familiar with the matter. Refiners are scrutinizing the ownership of each ship to make sure they’re not affiliated with the company, or other sanctioned groups, they added, asking not to be named because the information is private. The broader pushback follows a similar move by India’s biggest private refiner, Reliance Industries Ltd., reported earlier this week. The heightened scrutiny on the tanker giant appears to have also swept up other oil ships carrying Russian oil, with two vessels waiting several weeks off the South Asian coast without any indication of when they will unload.

THSC) said it has launched its 'highly anticipated' report on the Demand And Skill Gap. The study estimated that 5.7 million youth could be trained to meet an expected incremental labour demand of 3 million workers between 2025-2028. However, challenges such as low wages and long working hours deterred youth from continuing in the industry. The Skill Gap Report was officially unveiled by Atul Kumar, secretary, Ministry of Skill Development and Entrepreneurship, in the presence of dignitaries representing the National Skill Development Corporation and Industry.

Shashank Srivastava, Senior Executive Officer (Marketing and Sales), Maruti Suzuki India Ltd, says: “We could expect the month to end around the 375,000 mark for the industry, that should be about 11% growth over last year. March being the last month of the financial year, we are expecting industry sales to be about 42,35,000 or thereabouts which should be a growth of about 8.8% over last year's figure of Rs 38.9 lakh.” Just going by the kind of comments that we have got from the Minister Nitin Gadkari on lower tax on hybrid vehicles, how are you looking at that getting cheaper soon? What would that potentially mean? Shashank Srivastava: We will have to wait and see how it pans out. At the moment, hybrids are doing pretty well. The duty on hybrids is 43% compared to 5% on EVs. But despite that, hybrids have been doing pretty well. In the last six months, hybrids have been outselling EVs. A total of 52,500 approximately in the last six months against 48,300 for EVs. One of the big reasons why hybrids have been doing well is that there is no range anxiety associated with it.

By Sinead Cruise and Alexander Marrow

Malaysia has declined the opportunity to host the 2026 Commonwealth Games due to financial concerns, as confirmed by the Ministry of Youth and Sports. This decision comes after the withdrawal of Victoria, Australia, last year. The Ministry stated, 'The government has decided not to accept the offer from the Commonwealth Games Federation.' The 2026 event will not be held in Malaysia, citing cost reasons. Earlier yesterday, Malaysia's sports minister Hannah Yeoh had expressed hesitation regarding the country's potential hosting of the 2026 Commonwealth Games, highlighting financial considerations. The uncertainty arose after the original host, the Australian state of Victoria, withdrew last year, citing escalating costs. This withdrawal cast doubt on the fate of the quadrennial event, which primarily involves former British colonies, prompting discussions on its benefits and relevance.

Gold And Silver Prices Today : Gold prices saw a slight increase on Friday.The cost of 24 carat gold is Rs.6798.5 per gm up by Rs.194.0.The cost of 22 carat gold is Rs.6227.4 per gm up by Rs.178.0. The price change in 24 carat gold in the last one week has been 0.45% .whereas in the last month it has been -5.17%. The cost of "" + "silver" + "" is Rs.78600.0 per kg up by Rs.1700.0 per kg.

Also Read: EMI bounce rate improves to a five-year low indicating no material signs of risk build-up It noted that some of the banks have reduced the excess cash on the balance sheet to fund credit growth in the recent period, thereby delaying deposit growth and protecting margins. However, it believes most of these levers are now largely exhausted and, thus, banks will have to mobilize deposits to incrementally fund credit growth.

₹10,000 crore. In addition to sharing revenue with the landlord, the company reported that the acquisition cost came to ₹468 crore.

HANOI (Reuters) — U.S. food and drink maker PepsiCo (NASDAQ:PEP) Inc has committed to investing an additional $400 million in Vietnam to build two new plants powered by renewable energy in the country, its government said on Friday.

By Lewis Jackson

Avenue Supermarts, the DMart retail chain operator, with a ‘Buy’ rating and a target price of ₹5,107 per share, implying an upside of over 22% from Thursday’s closing price. According to CLSA, DMart is rapidly scaling its private-label offerings, which could drive the next leg of share gains.

Mahindra & Mahindra: The Indian automaker has signed a Memorandum Of Understanding with Adani Total Energies E-Mobility to establish an electric vehicle charging network throughout India. This collaboration will also enable the automaker to introduce e-mobility solutions, ensuring consumer access to the charging infrastructure. Veejay Nakra, President of the Automotive Division at M&M Ltd, said this collaboration is crucial in improving the EV charging infrastructure and providing customers with seamless access to the charging network and digital integration for an unmatched EV experience.

Golden Visa program, aimed at addressing the pressure on the country's property market. Investors seeking residency rights will now need to invest a minimum of €800,000 ($873,280) in popular areas like Athens, Thessaloniki, Mykonos, Santorini, and other islands with a population exceeding 3,100 inhabitants, according to a statement from the Finance Ministry. This adjustment follows a previous doubling of the required investment amount in popular areas, raising it to €500,000 in August. Additionally, in other parts of the country, the minimum investment threshold will rise to €400,000 from €250,000. Investors are limited to purchasing a single property with a minimum surface area of 120 square meters (1291.7 square feet), which cannot be utilized for short-term rental purposes. Effective from March 31, the revised investment thresholds aim to bolster the supply of long-term rental housing and mitigate the impact of the Golden Visa program on housing costs, as per the ministry's statement.

MUMBAI : A duty differential in silver imported under an India-UAE treaty is being exploited by unscrupulous jewellers to short-change unsuspecting buyers, according to an official from nodal trade body India Bullion and Jewellers Association. The differential can also queer the pitch for silver exchange traded funds in India, he said.

By Lisa Baertlein and Aishwarya Jain

Investing.com — Nike reported Thursday better-than-expected fiscal third-quarter results as improved margins and strength in its North America segment boosted performance.    

By Ananya Mariam Rajesh

The Bank of Canada’s governing council seems to be growing in confidence that the central bank will be able to lower its benchmark interest rate sometime this year, but newly released documents show there’s concern among monetary policymakers about risks to their outlook.