COST Financial News

₹346.20 against the previous close of ₹351.05 and fell 4.14 per cent to the level of ₹336.50 in Friday's trade so far. The stock traded 4.14 per cent lower at ₹336.50 around 10:40 am on the BSE. Indoco Remedies share price hit its 52-week high of ₹423.10 on January 2 this year and its 52-week low of ₹307 on April 26 this year, on the BSE.

₹94.33 KOLKATAPETROL (Rs/L) - 106.03DIESEL (Rs/L) - ₹92.76 MUMBAI CITYPETROL (Rs/L) - 106.31DIESEL (Rs/L) - 94.27 NEW DELHIPETROL (Rs/L) - 96.72DIESEL (Rs/L) - 89.62 Download the App to get 14 days of unlimited access to Mint Premium absolutely free!

By David Randall and Davide Barbuscia

Australia’s advertising industry has asserted itself as a bigger force than the accommodation and fast food sectors in economic output, pre-empting a crackdown by the Albanese government on gambling and wagering advertising.

Siddhartha Khemka, Head-Retail Research, MOFSL, says “in the long term, we would continue to prefer a tier-1 IT players given that a), valuations are comfortable, b), long term growth visibility is there. But at the same time, the near term underperformance could continue and which is where one can prefer looking at the tier-2 players.” Khemka also says: “Our preference in the auto space would be Maruti, followed by Tata Motors and Ashok Leyland. Within the two-wheeler space, we have a neutral rating on Bajaj Auto, while we have a buy rating on Hero Moto because of the cheaper valuations and the improving growth in the rural sector. We prefer Hero Moto over Bajaj Auto.” What is the global screen telling you about the resilience that the Indian markets are showcasing? The Indian economy is relatively better placed compared to global peers and there are headwinds starting with the high US interest rates, bond yields, inflationary concerns, growth concerns and to top it all, the geopolitical concerns, which provides volatility, which the market does not want at this point and where earnings are kind of picking up.

Solar power is set to dominate global electricity markets within the next few decades, and may have already reached an “irreversible tipping point,” according to a study published this week in Nature Communications. The study finds that solar adoption will continue apace barring any major policy shifts geared at disrupting it.

Sales of previously occupied U.S. homes fell for the fourth month in a row in September, held back by surging mortgage rates and a thin supply of properties on the market

Federal Reserve Chair Jerome Powell said inflation remains too high and that bringing it down to the Fed’s target level will likely require a slower-growing economy and job market

Union Pacific's third-quarter profit fell 19% as the railroad hauled about 3% fewer shipments and costs remained high, but the average speed of its trains improved 5% as new CEO Jim Vena began to tweak the operations

The cost of financing a home surged again this week, keeping the average long-term U.S. mortgage rate at its highest level since December 2000

Rivian Automotive has confirmed that it will move ahead with construction on a factory in Georgia early next year

Q2 results today: Despite speculations about global slowdown, Indian companies reported strong quarterly results in January to March 2023 quarter. The performance improved further in April to June 2023 quarter after better-than-expected recovery in the Indian economy. In fact, Indian economy has managed to keep the inflation under control throughout the year, which is expected to fuel industrial and other demands in India.

Gold prices hit a three-month peak on Friday and were set for a second straight weekly gain, with demand bolstered by the Middle East conflict and expectations that the Federal Reserve may be done with rate hikes. FUNDAMENTALS * Spot gold was steady at $1,973.99 per ounce by 0132 GMT, after hitting its highest since July 20. U.S.

Asian shares plumbed a fresh 11-month trough on Friday as fears of a regional conflict in the Middle East intensified and as a relentless rise in long-term U.S. yields pressured valuations, while supply concerns lifted oil prices further. The surge in the 10-year U.S.

Supreme Court Thursday held that the lower 5% withholding tax on dividend income of companies was not available to all Organisation for Economic Co-operation and Development (OECD) countries just on the most favoured nation (MFN) basis. A bench led by Justice Ravindra Bhatt held that international treaty practices are not enforceable in India unless the government notifies them, a ruling that experts said will have wide ramifications for the industry. «The decision of the apex court will have wide repercussions for the industry and could result in millions of dollars of additional tax revenue for the government,» said Amit Maheshwari, tax partner, AKM Global, adding that it could also entail reopening of past cases in form of fresh action by tax authorities. The top court set aside a 2021 Delhi High Court ruling that allowed Nestle SA, Concentrix Services, Steria and others a concessional withholding tax rate of 5% on dividend income from their Indian arms, extending the MFN clause in the OECD. The court also made it clear that preferential treatment given to a country under a double taxation avoidance agreement did not automatically get extended to other member countries unless the earlier treaty with them was amended. Experts said other countries could also revisit the position on benefits under these treaties.

bond yields surged to a 16-year high on Thursday to within sniffing distance of the psychological 5% mark, causing jitters in the global stock markets already edgy over the escalating West Asia conflict. The rising US yields along with a stronger dollar can raise India Inc's overseas borrowing and debt-servicing costs, though economists say India's strong fundamentals offer protection.

Investing.com-- Japanese consumer inflation grew slightly more than expected in September as food prices remained elevated, while a core inflation reading that is closely watched by the Bank of Japan remained near 40-year peaks.  

Citizens Financial Group Inc. rolled out a private bank as it seeks to capture wealthy clients of regional lenders that were felled by the turmoil earlier this year.

LONDON (Reuters) — The U.S. 10-year Treasury yield briefly reached 5% for the first time since 2007, marking a fresh milestone in a relentless push higher for government borrowing costs.

Destiny 2, offering players a chance to celebrate and earn rewards. However, since Solstice 2022, some players have criticized these events due to the introduction of paid Event Cards, adding more microtransactions. The Festival of the Lost 2023 Event Card costs 1,000 Silver, which equals $10.00 USD, £8.49, or €10.00. Purchasing this card grants access to the Festival of the Lost Event Pack, including: Vampiric Pose emote Sugary Staple sparrow Roseate Gleam shader During the Festival of the Lost event, players can earn Event Tickets by completing challenges. These Event Tickets can be used to obtain premium rewards: Cobwebbed Projection ghost projection – 1 Event Ticket Sugar Rush transmit effect – 1 Event Ticket Imprecise Snack emote – 5 Event Tickets Confection Shell ghost shell – 8 Event Tickets The value of the Festival of the Lost Event Card is subjective, but many players believe it's not worth it. For $10.00 USD, you receive an emote, sparrow, shader, and additional cosmetics if you invest time in the event. Collecting all 16 Event Tickets can be a substantial effort, especially for casual players. Although individual event challenges aren't too demanding, they add up when combined.

Investing.com — President Joe Biden has revived his bid to refill the heavily-drawn US oil reserve, with the Department of Energy announcing two separate offers of crude purchases on Thursday totaling 6 million barrels, to be delivered between December this year and January 2024.