COST Financial News

One of the most critical errors in retirement planning is failing to start early enough. This mistake can severely impact one's financial security and comfort in later years. Beginning your retirement savings at a younger age takes advantage of compound interest, where even small contributions can grow significantly over time. The power of compounding is such that the longer your money is invested, the more potential it has to grow, making early investments disproportionately beneficial. Delaying retirement savings often leads to a challenging catch-up scenario.

BBC, in 2018, carried a report listing 11 cities across the globe that were likely to run out of drinking water, including Cape Town and Beijing. Bengaluru was the only Indian city on the list. Not a single lake had suitable water for drinking, the report noted.

European Central Bank will lower borrowing costs in the spring, with June more likely than April for a first move, Bank of France Governor Francois Villeroy de Galhau said. “We will probably cut rates in spring, and spring in Europe is from April to June 21," Villeroy said on France Info radio.

Apollo Tyres Ltd, Ceat Ltd, JK Tyres & Industries Ltd and MRF Ltd have declined 5-15% in the last five trading sessions. Considering an average selling price of ₹40,000 per pair, a price reduction of around 1.5-2% has been taken by companies like Apollo Tyres and JK Tyres, showed a recent dealers’ channel check by Nomura Financial Advisory and Securities (India). This move was in response to a similar price-cut action taken by the truck segment leader, MRF on 5 March, Nomura said in its report dated 7 March.

₹48 lakh and long-term capital gains of ₹6 lakh had been booked in December 2022. At a 10 % long-term capital gain tax, with ₹1 lakh exemption, my client was happy that the extra tax liability was only ₹50,000. To his surprise, his chartered accountant asked him to deposit ₹1.65 lakh extra in taxes.

Junk bonds are beating less risky debt almost everywhere in 2024, but a Vontobel Holding AG strategist says he’s steering clear of the asset class. 

Shell Plc will eliminate at least 20% of jobs in its deals team as the company continues to restructure its business units in an effort to reduce costs, according to people with knowledge of the matter. Staff in the division, which has several hundred employees handling mergers and acquisitions for Shell, were told that there would be a significant reduction in headcount, with further details to be communicated in April, the people said, asking not to be named because the information isn’t public. The team is the latest to be affected by job cuts, following similar moves across business units such as low-carbon solutions, chemicals and IT.

Reliance Ethane Holding Pte Ltd. (REHPL) a wholly owned subsidiary of oil-to-telecom conglomerate Reliance Industries has invested Rs 284 crore each in three of its subsidiaries--Ethane Coral LLC, Ethane Diamond LLC, and Ethane Jade LLC-- aggregating to Rs 852.8 crore ($102.90 million). Ethane LLCs have entered into ship-building contracts (SBCs) to purchase Very Large Ethane Carriers (VLECs) and each Ethane LLC will own a VLEC. VLECs are being acquired for the transportation of Ethane. The investment is made to enable Ethane LLCs to make part payment towards the cost of construction of three VLECs. «Reliance Ethane Holding Pte Ltd. (REHPL), a wholly-owned subsidiary of the Company, has informed that it has today invested in 34,300,000 ordinary shares of face value of $1 each for cash at par, in each of its three wholly owned subsidiaries,» RIL said in a regulatory filing on Wednesday.

The Canadian mortgage space is already seeing some rates on offer decline heading into the spring market, despite no clear indication yet from the Bank of Canada that interest rate cuts are imminent.

PARIS (Reuters) -BNP Paribas, the euro zone's largest bank, on Wednesday said it will step up its cost-cutting plan by 400 million euros ($437 million) after reporting weak results for the fourth quarter.

By Paritosh Bansal

Cabinet approves 4% hike in Dearness Allowance for government employees "This change represents a significant financial commitment of Rs. 1792.71 crores every year, reaffirming our dedication to our employees," Chief Minister Siddaramaiah said on 'X'. Additionally, the Karnataka government has increased the DA to 50% from the existing 46% for staff under UGC, AICTE, ICAR, and JNPC pay scales.

Also Read: Bitcoin reaches all-time high of $72,000, should you invest? Here's what experts say The notes will be convertible into cash, shares of Coinbase’s Class A common stock, or a combination, at the company’s election. “The notes will be senior, unsecured obligations of Coinbase, will accrue interest payable semi-annually in arrears and will mature on April 1, 2030, unless earlier repurchased, redeemed or converted.

After weeks of testing, an electronic system for filing returns directly to the IRS is now available for taxpayers from 12 selected states

Charles Nader, CEO of Doc.com, knows how frustrating it can be to try and access healthcare, especially when high costs prevent people from going to the doctor or, in worst-case scenarios, avoiding going to the hospital. Telemedicine also has specific barriers to access, especially for those without insurance. But with Doc.com, Charles Nader aims to change how people seek medical care, all while utilizing technology that is aimed to be transparent, innovative, and accessible to those who use it.

By Katya Golubkova

Digital lenders focused on unsecured small business loans are hogging the limelight as recent regulatory actions and changes in the macroeconomic conditions have made unsecured consumer loans – the mainstay of lending fintechs so far – less attractive, industry officials said. Players like Indifi, Lendingkart, Aye Finance, Kinara Capital are expected to benefit from the growing influence of digital lenders in MSME (micro, small and medium enterprises) loans, typically dominated by banks and traditional NBFCs, they said.

New Delhi/Mumbai: Europe’s proposed carbon tax has split the Indian steel industry down the middle, with some companies in favour and others against, even as lobbying to waive or delay the levy continues. The tax, under the carbon border adjustment mechanism (CBAM), would increase costs for Indian steelmakers exporting to Europe, a key destination that is critical for their businesses. The tax has been supported by companies with major operations in Europe, such as Tata Steel.

BRUSSELS (Reuters) — The European Central Bank will have to gamble soon with an interest rate cut even though wage inflation and price rises for services are uncomfortably high, Governing Council member Pierre Wunsch said.

By Chuck Mikolajczak

Jane Fraser, chief executive officer of Citigroup. India's perfect policy prescriptions, cast-in-stone execution schedules and an unmatched ability to deliver development on a gigantic scale make it a unique investment destination, Fraser told ET in an interview. «The move from more of a cost arbitrage in India to now looking at it in terms of innovation from our Indian tech centres — they are drivers of our business strategy,'' she said. „Citi is doing a huge amount of work in transformation globally. That is all happening here in India.''