COST Financial News

₹1,568.00 apiece on the BSE. IndusInd Bank on Thursday reported a rise of 17.3% in standalone net profit at ₹2,297.8 crore for the quarter ended December 2023, compared to ₹1,959.2 crore in the year-ago period. The bank’s net Interest Income in Q3FY24 grew by 18% YoY and 4% QoQ to ₹5,296 crore.

The projected cost of replacing the aging nuclear missiles buried in silos across the Great Plains has soared by more than a third to $107 billion, the Pentagon said, a development that comes as China pushes ahead with an expansion of its arsenal. The problems at one of its priority programs put more pressure on the Pentagon’s funding for other programs as it wrestles with the prospect of cuts over the next several years unless Congress can agree on a broader budget deal.

ruin and riches. Less than a year ago rising rates caused Silicon Valley Bank (SVB) and then First Republic to fail, the largest bank collapses since 2008. Yet on January 12th JPMorgan Chase reported its seventh consecutive quarter of record net-interest income.

earnings heavy day with 46 listed companies to declare their December quarter earnings. Street will be keenly looking at the results of Reliance Industries (RIL), Hindustan Unilever (HUL), UltraTech Cement and Paytm operator One 97 Communications. The other important results will be from the likes of Atul, Central Bank, Hindustan Zinc, RBL Bank, Sunteck Realty and Supreme Industries. On Thursday, IndusInd Bank and Polycab India announced their October-December quarter results along with 40 other companies. While the private lender reported standalone net profit growth of 17% year-on-year at Rs 2,298 crore which was up from Rs 1,959 crore in Q3FY23, Polycab posted a double-digit growth in both profit and revenue for the said quarter. The consolidated net profit rose 15.4% year-on-year (YoY) to Rs 413 crore.

(Reuters) — Los Angeles Times plans to layoff a «significant» number of journalists, the newspaper's guild said on Thursday, adding that they would organize a one-day walk-out on Friday to protest against the planned move.

By Samuel Shen, Casey Hall and Ellen Zhang

Jindal Stainless export targets hit as Red Sea crisis escalates That’s spooking the industry. Italian exporters fear kiwi and citrus fruits will spoil on the way, Chinese ginger is getting pricier and some African coffee cargoes were briefly delayed. Grain is being diverted from the Suez Canal and a livestock carrier bound for the Middle East has changed course.

NEW DELHI : In the interim budget presented in February 2019, ahead of the last general elections, the Centre announced the flagship PM-Kisan scheme which promised a direct cash transfer of ₹6,000 every year for every farm household. The scheme, which now accounts for a lion’s share of the agriculture budget, came on the back of falling crop prices and losses for the ruling Bharatiya Janata Party in crucial state elections. Things have changed this time around.

By Leika Kihara and Takahiko Wada

This week’s inflation “setback” was not great news for anyone hoping for a Bank of Canada rate cut sooner rather than later.

By Mike Stone

By Abhirup Roy

After-Hours Stock Movers:

Investing.com — Macy's (NYSE:M) will reportedly cut about 3.5% of its workforce and shutter five of its stores as the department store ramps up efforts to cut costs amid a difficult demand backdrop. 

City governments in India must focus attention on the planning of inclusive, safe and efficient public transportation if they want residents to be healthy and lead economically productive as well as socially active lives. Whether citizens choose to walk, drive or use a train, proper planning is necessary for them to reach their destinations fast and safe. If their needs are met by public transportation, people opt for public modes; otherwise, for private vehicles.

The world’s largest stablecoin issuer, Tether, has reportedly expanded its Bitcoin holdings by acquiring an additional 8,888 BTC. This latest purchase cost a whopping $380 million.

Another tumultuous year has confirmed that the global economy is at a turning point. We face four big challenges: a climate transition, good-jobs problem, an economic-development crisis and the search for a newer, healthier form of globalization. To address each, we must leave behind established modes of thinking and seek creative workable solutions, while recognizing that these efforts will be necessarily uncoordinated and experimental.

By Amina Niasse

Amazon (NASDAQ:AMZN) confirmed on Thursday is reducing its workforce in the Buy with Prime unit as part of its ongoing efforts to cut costs.

By Manya Saini, Niket Nishant and Lananh Nguyen

SitusAMC managing director Tim Rood analyzes the housing market after the interest rate on a 30-year fixed mortgage increased on Cavuto: Coast to Coast.