COST Financial News

Hindustan Unilever on Tuesday said it is evaluating various options for the future of the ice cream business, following its parent Unilever's announcement of a strategic intent to separate the vertical globally. London-based Unilever announced that it intends to transform itself into a simpler, more focused and higher-performing company by separating the ice cream business, a move expected to result in a loss of 7,500 jobs. When asked about the possible impact of the move on the Indian business, the Indian subsidiary (HUL) of Unilever said it is evaluating various options. «As far as the Indian ice cream business is concerned, we are evaluating the various options in light of this announcement. We will discuss this with the HUL Board and Unilever management in the coming months. Once the approach is finalised, we will communicate further,» said a HUL spokesperson in response to a query over the impact of Unilever's decision on the Indian business.

Indian government would encourage local production of premium electric cars in the country, a senior Audi AG executive said on Tuesday. Audi AG Vice-President, Sales Overseas, Andre Konsbruck said the Indian government is taking the right steps to accelerate the adoption of EVs in the country. «The government seems to be very committed to sustainability and to the electric future,» he said in an interaction here while referring to the new electric policy. Konsbruck said that India is perhaps the first market where a specific regulation is targeted towards premium cars.

Garden centers enjoyed a pandemic boom, particularly with millennials, as people looked for outdoor activities during lockdowns

Unilever, the company that makes Ben & Jerry’s ice cream, Dove soaps and Vaseline, says it's cutting 7,500 jobs and spinning off its ice cream business to reduce costs and boost profits

The cost of hiring a real estate agent to buy or sell a home may soon change, along with decades-old rules that have helped determine broker commissions

Nottingham Forest has been deducted four points for overspending

Japan's central bank has raised its benchmark interest rate for the first time in 17 years, ending a longstanding policy of negative rates meant to boost the economy

In many parts of the world, the use of cash for everyday payments has become something of an oddity, with the vast majority of consumers and merchants preferring the convenience of credit cards and electronic payment methods.

Redefining Ownership and Investment in the Digital Frontier

Analysts at Redburn Atlantic downgraded Snowflake (NYSE:SNOW) and MongoDB (NASDAQ:MDB) to Sell from Neutral on Tuesday, saying they “lack a clear Gen-AI advantage, posing a budget reallocation risk that their current valuations do not reflect.”

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Andhera, Varun Dhawan and Samantha Ruth Prabhu-starrer Citadel: Honey Bunny, the Indian adaptation of the American espionage thriller, Karan Johar-backed Daring Partners, Siddharth Roy Kapur’s Matka King starring Vijay Varma, and The Revolutionaries, an adaptation of the book by the same name. New seasons of older franchises such as Mirzapur, Paatal Lok, Panchayat and Suzhal- The Vortex will be the other attractions.

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Payne Capital Management President Ryan Payne weighs in on the U.S. economy, arguing that purchasing power will continue to ‘strengthen’ for the American people.

The annual rate of inflation ticked down in February amid relief at the grocery store, Statistics Canada said Tuesday.

On the first anniversary of UBS Group’s historic takeover of its former rival Credit Suisse, it’s becoming clear just how advantageous the deal has been for the bank. It has pushed its market capitalization past $100 billion to the highest level in almost 16 years and cemented its leading role in global wealth management. 

The US Securities and Exchange Commission was sanctioned for its controversial restraining order against crypto firm DEBT Box, a March 18 court filing showed. In a rare rebuke, Judge Robert Shelby slammed the agency on Monday, calling its actions toward DEBT Box a “gross abuse of power.”

Those who win the lottery often spend the money unwisely. This is the risk UBS needs to keep in mind on the anniversary of its Credit Suisse windfall. A year ago Tuesday, UBS said it would buy its embattled rival under the auspices of Swiss regulators, who wanted to end a banking panic.

₹7,500 crore for 1,390 electric buses. This substantial tender has been awarded by Convergence Energy Services Limited (CESL) as part of the PM-eBus Sewa Scheme. Under this scheme, JBM Ecolife Mobility will be responsible for the procurement, supply, operation, and maintenance of the buses, along with the development of associated electric and civil infrastructure on a gross cost contracting (GCC) basis.

The residential sector in Noida has continued to showcase strong momentum with record-breaking sales in the calendar year 2023. A total of 14,822 flats were sold, amounting to a significant value of Rs 24,944 crore, according to JLL.

Christy Mathai, Fund Manager -Equity, Quantum AMC, says what offers value to us currently is banks, especially the private sector banks where we have invested quite a bit heavily and even if there is more correction, we would love to add to some of these pockets. So, some of the consumption linked themes, be it FMCG, consumer discretionary, even with some correction we do not think they would come to our buy price in the sense if you were to look at stocks. So, even going forward, we would look to add more into some of these pockets where valuations have been reasonable, be it banks, be it consumer discretionary, especially autos. Two years back we added quite aggressively in the two-wheeler names.” Where do you stand on that argument that Indian midcap and smallcaps are way expensive right now and it is the largecap which have more value? What are your thoughts there? Christy Mathai: Clearly if you were to look at how the small and midcap index have done post COVID, it has done phenomenally well and especially last year. Last year, it was a combination of earnings growth plus the flows which came in a big way in the markets, especially in the small and midcap segment, especially the smallcaps.