COST Financial News

By Darya Korsunskaya and Alexander Marrow

Gifting manners during festivals have changed. However, not all have succumbed to the new-age glitzy gifting styles picked and decided in tune with marketing gimmicks and easy gifting options. However, some people still prefer the old-school line of thought when it comes to giving and receiving gifts in gold and silver. As our old people say, “Trends may change but values never change". Each day of the festival, commencing from the onset of Navaratris and extending until Diwali, brims with profound significance and symbolism.

Santos has taken steps to start installing the pipeline for its $5.8 billion Barossa gas project in the Timor Sea, even as it awaits regulatory approvals for the drilling work it was forced to suspend more than a year ago because of a court ruling.

IndusInd Bank jumped 2.5% to the day's high of Rs 1,456.50 on the NSE on Thursday following strong September quarter earnings posted by the private lender on Wednesday post market hours. The stock was among top Nifty gainers in the early trade riding on the fresh impetus provided by favourable views from top brokerages. Among the ones who came out with their post-earnings review of the stocks were BofA, Kotak Institutional Equities and Nuvama and all of them have a buy view on the counter.

Netflix has increased the price of its premium ad-free plan by $3 per month to $22.99, while the cost for premium rose by 2 pounds to 17.99 pounds in Britain and by 2 euros to 19.99 euros in France, according to a report published by Reuters. The price hikes were announced in an earnings report that showed the company's global subscriber base reached 247 million at the end of September. Substantial subscriber gains came in Europe, the Middle East, and Africa, where Netflix added nearly 4 million subscribers.

UltraTech Cement Q2 resuts: The country’s largest cement producer is going to report its Q2 financial performance today. Amidst strong cement demand in the country UltraTech is likely to report good volume growth. Though July-September is a seasonally weak quarter impacted by monsoon activity.

New Transurban boss Michelle Jablko plans to offer more incentives such as car hire and car wash discounts to users of the toll road group’s Linkt accounts to encourage drivers to keep paying for its roads despite the high cost of living.

Australia has too many brewers and more beer makers will hit the wall financially, predicts the boss of Konvoy Kegs, which rents kegs to 600 brewers in Australia and Asia and just raised $13 million to fund expansion into the United Kingdom and Ireland.

(Reuters) — Smithfield Foods' Chinese owner WH Group (OTC:WHGLY) is working with banks to take the U.S.-based pork producer public again in the United States, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

The prevalent discussions and debates in the mutual fund space have been about mid- and small-cap valuations, loss of tax advantage for debt funds, SIP (systematic investment plan) mobilizations, new folios and the like. Apart from these, a development happening in recent times is that in the equity market, the spread between the cash or spot segment and the stock futures segment has widened. In a volatile non-trended market, this spread tends to move up. This essentially being the cost of carrying a trade till the expiry of the futures contract, in a non-trended market, the uncertainty pushes it up.

Health insurance is a financial arrangement that provides coverage for medical expenses and healthcare services. It is crucial to have health insurance as it offers financial protection against unexpected medical costs, ensuring that individuals can access necessary medical care without facing excessive financial burdens.

By Byron Kaye

Kelly Singh, 32, says she’s “as Mississauga as they come.”

UBS began wall crossing fund managers for lithium developer Liontown Resources’ emergency capital raising on Wednesday evening, seeking $400 million from equity capital markets to go alongside $760 million in debt.

The Victorian Bar has called on the federal government to hire “individual experts” such as barristers, rather than large law and accounting firms, to overcome “issues of cost, accountability and risks of breaches of confidence and trust”.

Rio Tinto is open to working with Korea’s POSCO on green iron production in Western Australia, where it is trying to boost output from its newest and most technologically advanced mine.

Shreyas Shipping's delisting attempt has failed, as the promoter, Transworld Holdings, fell short of securing the minimum 90% shareholding required to complete the process. Transworld Holdings, which held a 71.25% stake in the company, offered to repurchase shares at ₹400 each, but only 16.61% of shares were tendered, leaving a shortfall of 2.14 percentage points. Shares of Shreyas Shipping fell 8.7% on Wednesday to close at ₹308.30 on the BSE. The stock has declined about 18% in the past one week. Last month, about 4.30 million shares were tendered under an earlier repurchase proposal, surpassing the minimum requirement of 4.08 million shares required to reach the 90% threshold. However, the promoter rejected the price of ₹890 per share discovered through the reverse-book-building process and proposed a counteroffer of ₹400 per share in accordance with updated regulations. The counteroffer, which commenced on October 11, concluded on October 17. In a filing with stock exchanges, the company reported that the promoters could repurchase just over 3.60 million shares against its offer to buy back up to 6.49 million shares. Transworld Holdings had initially offered to acquire the shares from public shareholders in May at an indicative price of ₹338.

Venture capital firm Celesta Capital plans to add another 15-25 entities to its India portfolio over the next 3-5 years, even as startups in India have been caught in a funding winter. “There is no slowing down or pulling back,” managing partner Arun Kumar told ET.

(Reuters) — Wireless tower operator Crown Castle (NYSE:CCI) forecast 2024 site rental revenue slightly below Wall Street estimates on Wednesday, as telecom firms reduce spending after years of pouring money into building out their 5G networks.

By Matt Tracy

interest rate decision next week, according to the MNP Consumer Debt Index.The insolvency firm’s quarterly survey tracks how Canadians are feeling about their ability to pay down debt, and the latest instalment released Wednesday shows a mixed picture of worry about handling future rate hikes and some improvements in the ability to cope with higher interest costs.Some 28 per cent of respondents indicated their ability to deal with an additional percentage point of rate hikes had worsened from the previous quarter. Phrased another way, some 37 per cent of respondents said they couldn’t absorb another $130 in interest payments on their debt, compared with 32 per cent in the previous survey.MNP’s Consumer Debt Index is based on Ipsos polling of more than 2,000 Canadians between Sept.