COST Financial News

Ethereum is scheduled to undergo a network update called the Deneb-Cancun, or Dencun, on Wednesday, aimed at improving user experience and lowering transaction fees for some users on the the network's Layer 2 blockchains. Ether (ETH), the native coin of the Ethereum blockchain, was trading just a shade under $4,000 on Tuesday.

By Nicole Jao

A 'Mornings with Maria' panel discusses the U.S. economy and markets after the January year-over-year CPI comes in at 3.1%.

'The Big Money Show' co-host Brian Brenberg shows how inflation under President Biden has made life much more unaffordable for Americans on 'Varney & Co.'

Electric car sales in India fell to their lowest level in five months in February even as companies took steep price cuts, indicating it would take more than just a lower acquisition cost to nudge buyers to shift to EVs in India where automakers are committing billions of dollars for the switch to electric mobility. Cumulative sales in February dropped to 7,277 vehicles, the lowest since October, showed data from the government's Vahan portal. So far, this month, EV registrations have fallen to 204 units per day on average, the lowest in 11 months, signalling that the softening of sales is set to continue. Sales are set to slow further with less than 20 days left before the end of incentives under the government's Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India) scheme. These incentives are applicable to cars used in the commercial fleet, which comprise a significant portion of EV sales, and with the impending general election, automakers are unsure if the scheme would be extended. Anticipating slowing sales, Tata Motors has cut production in April and May, following a similar move in March, said people aware of the company's plans. Sales of Tata's EV registrations fell 13% sequentially in March. This month Tata Motors plans to produce 2,200 to 2,500 EVs against a peak of 4,500 units about 4-5 months ago. The company is likely to maintain similar production levels for the next two months, said the person cited above.

Laptop and personal computer maker HP India will roll out its domestic expansion plans over the next 9-12 months to cater to the demand for the devices in the country which has «no end», HP India managing director Ipsita Dasgupta said, adding that the company was in talks with several Indian and multi-national companies but most of these plans are works in progress as of now. «If you look at our business in India, we are the second biggest employee base in the world after the US. We look exactly like the US in the sense that we have every functional capability that we have globally, sitting in India. Growing some of those is something that excites HP,» Dasgupta said in her first interview after taking over as HP India MD.

Germany’s vice chancellor has launched a program initially worth up to 4 billion euros to help heavy industry shift to more climate-friendly production over a 15-year period

(Reuters) — The U.S. federal budget deficit grew in February with outlays surging as annual tax-filing season kicked into gear and interest costs on the national debt kept rising, the U.S. Treasury Department said on Tuesday.

Quiver Quantitative — The failure of Silicon Valley Bank (SVB) last year came with a hefty price tag, not just for the bank itself, but also for the US banking system at large. A crucial yet overlooked aspect of SVB's collapse was the $285 million in fees charged for prematurely ending emergency financing from the Federal Home Loan Bank (FHLB) system. This fee, necessary to retire billions in financing obtained by SVB in a desperate bid to survive a run on deposits, is the largest of its kind for any bank failure since before the 2008 financial crisis. This situation highlights the significant role of FHLBs in providing emergency lending, even to banks that eventually fail, and brings into focus the ongoing debate in Washington about reforming this Depression-era system initially designed to finance mortgage lending.

FRANKFURT (Reuters) — Lufthansa's cabin crew union has called on its members to strike at Lufthansa and short-haul carrier CityLine on Tuesday and Wednesday to press their demands for higher pay.

ALSO READ: Mumbai Coastal Road opens to the public today: Features, toll, route to use, and more. Check details here The Mumbai Coastal Road has been named the 'Dharmaveer Sambhaji Maharaj Coastal Road' after Chhatrapati Sambhaji Maharaj and the inauguration date was selected to be on his death anniversary (March 11).

By Jonathan Stempel

Aditya Birla Capital (ABC) is set to merge with its wholly-owned subsidiary arm Aditya Birla Finance Ltd (ABFL) on which shares of the financial services company picked an uptrend rising almost four per cent to hit an intra day high of ₹190.65 earlier today. Domestic brokerage firm JM Financials has reiterated its ‘buy’ rating on the Aditya Birla Group stock and sees a potential upside of 33 per cent at a revised target price of ₹240 in the 12 months from current levels.

ALSO READ: US inflation rises again in Feb The core consumer price index (CPI), which excludes food and energy costs, rose 0.4 per cent from January to February, a pickup from the previous month’s figure of 0.3 per cent, according to government data released on Tuesday. On annual basis, the consumer prices rose 3.2 per cent last month, faster than January’s 3.1 per cent. The latest consumer prices data indicates that stubborn inflation remains a persistent challenge for the Federal Reserve.

UBS Group chief executive Sergio Ermotti said catching up with Wall Street giants in the US will take time, as the bank seeks to build its product offering in the world’s largest wealth market.

President Joe Biden has reignited the debate surrounding implementing a 30% tax on electricity used by crypto miners in a budget proposal for 2025.

Consumer prices in the United States picked up last month, a sign that inflation remains a persistent challenge for the Federal Reserve and for President Joe Biden’s re-election campaign, both of which are counting on a steady easing of price pressures this year.

As March break kicks off in parts of Canada, hundreds of thousands of Canadians are set to hit the roads and airports this week in one of the busiest travel times of the year.

QI Research CEO and chief strategist Danielle DiMartino Booth reacts to the ‘Apollo’ article that argues the Federal Reserve will not cut rates in 2024.

Retired nurse Joyce Fleming shares why she decided to return to work due to rising costs.

Maruti Suzuki is looking at transporting more vehicles it makes via railways to cut down costs and reduce emissions in line with the government’s push towards clean mobile solutions. The company, along with joint-venture partners, has invested over Rs 1081 crore to commission the country’s first in-plant railway siding at its manufacturing facility in Gujarat, which was inaugurated by Prime Minister Narendra Modi Tuesday. Maruti Suzuki plans to set up similar facilities in Manesar and Kharkhoda (Haryana). Overall, the company said it plans to substantially increase the proportion of cars it transports via railways as it doubles production to 4 million units per annum by 2030, from a little over 21% currently.