COST Financial News

When US banks kick off the third-quarter earnings season Friday, it will mark the first in a long line of hurdles the group needs to clear in order to assuage investor fears.

HDFC Bank after it was merged with mortgage lender Housing Development Finance Corporation (HDFC) effective July 1. The overall banking sector is expected to see healthy credit growth in the quarter ended September, but margins are likely to compress due to cost catch-up and the impact of Incremental Cash Reserve Ratio (ICRR). Analysts expect the creation of excess liquidity could affect the net interest margin of HDFC Bank in Q2FY24.

OnePlus, the popular Chinese tech giant, is gearing up to make its debut in the foldable smartphone market with the launch of the much-awaited OnePlus Open. This new foldable smartphone is all set to debut globally on October 19, with a special launch event planned in Mumbai, India, OnePlus announced. The event will be live-streamed on social media platforms, allowing enthusiasts worldwide to witness the grand unveiling. Kinder Liu, President, and COO of OnePlus, expressed his enthusiasm about the OnePlus Open, labeling it the «dream smartphone.» According to Liu, this innovative device is designed to transform conventional compromises found in existing foldable devices, particularly in terms of display technology, imaging performance, and weight.

International Monetary Fund (IMF) for the end of September and is comfortably placed to meet others such as net international reserves and net domestic assets, the bank said as quoted by Reuters. The remarks came in a statement on comments by central bank chief Jameel Ahmad during events on the sidelines of the meetings of the International Monetary Fund (IMF) and the World Bank meetings in Morocco. The Washington-based financial body will also send its delegation to cash-strapped Pakistan to review the country's economic performance in the first three months of the current fiscal year, PTI had earlier reported.

Bloomberg reported. In the notifications, the company informed that the job reductions will begin around mid-December. The San Diego-based company is required to make the filings under California rules.

On September 30, 2023, the Sui Foundation disclosed the induction of 17 new projects into its grant program, with a total of $1.05 million earmarked for distribution. This financial injection is aimed at propelling the development and assimilation of Sui, a burgeoning decentralized platform. The foundation has meticulously evaluated the prospective grantees based on a comprehensive proposal which includes a detailed project blueprint, budget allocation, significant milestones, team competency, and the projected impact on the Sui community.

The acting Social Security commissioner says a 3_2% increase in benefits next year “will help millions of people keep up with expenses."

Madhya Pradesh Chief Minister Shivraj Singh Chouhan has questioned the Congress party on the election promises made by the Congress General Secretary Priyanka Gandhi saying they (Congress) are making Rahul Gandhi and Priyanka Gandhi lie continuously but the public knows everything. Chouhan made the remark while speaking to reporters in the state capital Bhopal on Friday. «I have seen the video where Priyanka Gandhi was asked to make announcements yesterday. She made multiple announcements but they (Congress) asked her to make one more.

Madonna, Bruce Springsteen, Aerosmith, Lil Baby: High-profile music stars seem to be canceling concerts left and right. The string of cancellations and reschedulings comes at a busy time for the live-music industry, with tons of concerts and major artists jockeying for slots at arenas and stadiums.

Tata Consultancy Services Ltd, Infosys Ltd, HCL Technologies Ltd indicate that the ride in second half of financial year may remain turbulent. There are limited expectations for FY24. While TCS reported tepid revenue growth missing expectations, Infosys and HCL Technologies' revenue growth guidance cuts have disappointed.

State Bank of India (SBI) to ‘Sell’ from ‘Buy’ amid concerns over higher credit costs, narrowing margins and anticipated declines in Return on Asset (RoA) and Return on Equity (RoE) by the financial year 2025. The foreign brokerage has also slashed the target price of SBI to ₹530 from ₹740 earlier. UBS expects retail loan delinquencies to rise, driving up credit costs in FY25.

ANI, initially, the ticket cost for the journey to Sri Lanka was established at ₹7,670 per person, inclusive of ₹6,500 and an 18% GST. However, officials from the Nagapattinam Shipping Harbour Department announced on Thursday that they are introducing a special fare of ₹2,800, which includes ₹2,375 and an 18% tax, as a promotional offer for passengers traveling on the ferry on October 14th (for a single day). This rate represents a 75% reduction from the regular price.

A top Victorian tourism bureaucrat says axing the 2026 Commonwealth Games did not damage the state’s reputation for hosting major events and in fact boosted travellers’ interest in the state.

It’s off to the races for end-to-end payments outfit Cuscal.

₹1,258.00 apiece on the BSE. HCL Technologies, the third largest IT services company in India, reported 8.55% QoQ growth in Q2FY24 net profit at ₹3,833 crore. Its consolidated revenue for the quarter rose 1.4% QoQ to ₹26,672 crore.

Fletcher Building has accused Western Australia’s largest homebuilder BGC of blame-shifting and making unfounded allegations over plumbing pipe leaks in 11 per cent of new houses built in WA between 2017 and 2022 which used a specific Fletcher product.

Proxy adviser Institutional Shareholder Services has told Whitehaven investors to reject the miner’s remuneration report over concerns that “excessive board discretion” is at the heart of a new executive pay regime adopted last year.

By Ankur Banerjee

By Omar Younis and Lisa Richwine

By Brigid Riley

Israel left Thursday evening from the Ben Gurion airport carrying 211 adults and an infant living in the war-battered region. The passengers were chosen on a «first come first serve» basis after a drive launched by the Indian embassy for all Indians to register at the mission's database. The government is bearing the cost of their return.