COST Financial News

registered offices easily from one state to another according to the choice of the new promoters if there is no pending investigation, as the government has tweaked the relevant rules. In its latest notification, the Ministry of Corporate Affairs (MCA) has made suitable changes to the rule 30 of the Companies (Incorporation) Rules, 2014, which essentially deals with the shifting of registered corporate offices. It now adds a new proviso to the rule that says: “…where the management of the company has been taken over by new management under a resolution plan approved under section 31 of the Insolvency Bankruptcy Code, 2016, and no appeal against the resolution plan is pending in any court or Tribunal and no inquiry, inspection, investigation is pending or initiated after the approval of the said resolution plan, the shifting of the registered office may be allowed.” The new rule came into force on October 21. Experts say the move comes as a relief for new promoters who want the registered offices of the insolvent firms shifted to another state or Union territory to achieve better operational synergy with their other businesses. As many as 720 companies were rescued under the insolvency law since it came into being in late 2016, according to the data compiled by the Insolvency and Bankruptcy Board of India (IBBI).

“If you talk to our chief investment officer, she would say this is the time to start thinking about adding some duration,” State Street Corp. Chief Executive Officer Ron O’Hanley said in an interview with Bloomberg TV on Tuesday. “I don’t think anyone can call the top, but when you look at the 10-year just touching a bit over 5%, probably it is.”

A federal automatic retirement savings program would undermine retirement plans offered by businesses to their employees, said critics of new federal legislation.

In terms of comfort and luxury, train coaches are evolving into hotel suites. Recently, the Rail Coach Factory (RCF), Kapurthala, showcased its newest creation, which has features that compete with business class of airlines. It has designed a new AC first class coach, an “interiors on demand” concept, which will be proposed to the Railway Board soon, TOI has reported. This type of coaches will make trains look luxurious and opulent as well as more confortable with their new-age technology while also providing amenities on demand on select routes. Just what the airlines are known for. With such additions, the Indian Railways is raising the bar for train travel as well as throwing a challenge to low-cost airlines, especially on shorter routes. So far, India has rolled out 34 Vande Bharat trains and plans to roll out 75 more by March next year and 500 in the next three years to further improve the railways network, particularly for short-distance travel.

By Joseph White

Spotify on Tuesday reported quarterly monthly active users and subscribers ahead of expectations as it grew in all regions, and forecast that the number of monthly listeners would reach 601 million in the final three months of 2023. The company posted a third quarter operating income of 32 million euros ($34.08 million), its first quarterly profit since 2021, helped by a higher gross margin and lower marketing and personnel costs.

Retired American Express CEO and Chairman Harvey Golub discusses how Fed rate hikes and growing inflation are affecting GDP growth on «Cavuto: Coast to Coast.»

malpractice among IAS coaching institutes in India. As per a TOI report, these institutes have been found to inflate their "success rates" in the UPSC examination by featuring students who only participated in mock interviews at their centers, rather than completing the full course. The CCPA's investigation revealed that a staggering number of coaching institutes made exaggerated claims.

Blue Jet Healthcare IPO raised a capital of ₹252.08 crore through an anchor book process, where 22 investors took part in the anchor book offering, on Monday, October 23. Blue Jet Healthcare is an intermediary company that provides pharmaceutical and healthcare ingredients. In India, Blue Jet Healthcare was the pioneer in producing saccharin and its derivatives, or artificial sweeteners.

By Leika Kihara and Tetsushi Kajimoto

By Lawrence White and Iain Withers

The letter, issued a week before the international AI Safety Summit in London, lists measures that governments and companies should take to address AI risks.

Logitech International lifted its full-year guidance on Tuesday after the computer keyboard and webcam maker increased profit and slowed the rate of its sales downturn during its second quarter ended Sept. 30. The Swiss-American company, which experienced a strong pandemic as people stocked up on its equipment to work from home, added it was closer to finding a new CEO after Bracken Darrell left in June to take charge of Vans sneaker maker VF Corp.

LONDON — Barclays on Tuesday reported a net profit of £1.27 billion ($1.56 billion) for the third quarter, slightly ahead of expectations as strong results in its consumer and credit card businesses compensated for weakening investment bank revenues.

OTOROHANGA, New Zealand—As the sunrise cast a pink glow around 6:30 a.m., Michael and Susie Woodward worked together to attach suction cups to the udders of dozens of cows in the milking shed of their New Zealand dairy farm. When a tanker arrived to take the milk to a processor, Michael Woodward calculated the day’s earnings—and figured he and his wife would lose about $25 on the shipment. “I try not to think about it, to be honest," Michael Woodward, 43 years old, said as nearly 1,400 gallons of unprofitable milk was transferred from a storage vat to the truck.

The stages in life are distinct – accumulation and de-accumulation – as are the investment decisions related to each stage. However, needs and wants are constant. It is traditional for the novice/intermediate investor to turn towards SIP (Systematic Investment Plan) for accumulating wealth and set aside legacy fund at the end of wealth creation journey given SIPs' well known benefits.

Axis Bank will announce its financial results for the second quarter of FY24 on October 25, 2023, Wednesday. The private sector lender is expected to report decent profit growth with a rise in net interest income, but margins are likely to remain under pressure, in line with a broader trend in the overall banking sector. The banking sector’s overall credit growth remains healthy at 15% YoY in Q2FY24, mainly led by unsecured loans and some pick-up in corporate credit.

Hotel chains in India have focused on the asset-light model over the past decade to drive profitability. But has the strategy delivered results? An analysis of the financials over the past eight years, which typically forms the industry cycle for hotels, reveals that the listed large and medium-sized hotel companies reported better profitability during the period, underscoring the effectiveness of having a lighter balance sheet. In an asset-light model, instead of owning properties, hotel companies adopt the franchise route thereby reducing capital investment.

great resignation, quiet quitting, moonlighting, bare minimum Mondays, resenteeism, quiet hiring, rage applying and quiet firing. Now, something new has been added to the corporate dictionary: quiet cutting. So, what does quiet cutting signify? What relationship does it share with its predecessors, and how can it impact employees? Does quiet cutting mean firing or reassigning or something else? Answering these questions is important because even though many trends arrived, disrupted workplaces and vanished, layoffs continue to wreak havoc.

Israel's military said it was preparing for «unrelenting attacks» to dismantle Hamas while former U.S. President Barack Obama warned that «any Israeli military strategy that ignores the human costs could ultimately backfire.» The Palestinian health ministry said the Gaza death toll in two weeks of air strikes had topped 5,000. Israel pounded hundreds of targets in Gaza from the air on Monday as its soldiers fought Hamas militants during raids into the besieged Palestinian strip where civilians are trapped in harrowing conditions.

HCLTech, India’s third largest IT services company, is set to start its wage-hike process, excluding the middle- and senior-level employees of the current cycle to reflect the growth constraints faced by the $250-billion industry. “We will move forward with compensation reviews for employees in E0 to E3 bands. The effective date for increases will be retroactive to Oct 1, 2023 for E0 – E2 and effective Jan 1, 2024 for E3," the company’s chief people officer Ramachandran Surdararajan said in a communication to all employees. The formal communication email has been reviewed by ET.