COST Financial News

By Giuseppe Fonte

Anil Agarwal, the feisty entrepreneur who founded Vedanta in the 1970s as a scrap trading business and built it into a mines-and-minerals conglomerate by buying sick companies and turning them around, told ET in April that he wants to leave behind a legacy rivalling that of the Tatas, with a sprawling conglomerate run by professionals. «As far as my credibility is concerned, 99% people think I am the best,» he said. «But the 1% people who matter, take a little time (to trust my credibility),» he said.

By Sara Rossi and Valentina Consiglio

Bank locker facilities offered by banks come with fee depending on the size of locker and location of the bank. The bank has been mandated to recover the rent and any other cost incurred by it and debit the customer account. According to the PNB website, “The Bank shall have a right to: (a) Recover the Rent and any other cost incurred by the Bank in relation to the Locker to the debit of the Customer’s account, in the event the same is not paid by the Customer, when due; and (b) Refuse access to the Locker- (i) In case the rent due on the Locker remains unpaid; and (ii) Customer fails to provide proof of identity when demanded by the Bank, at the time of seeking access to the Locker.” Also read:Rs 18 lakh cash in bank locker destroyed by termites; Know the rules regarding keeping cash in your bank locker

Santiago, Chile's sprawling capital, is the gateway to some of the world's greatest natural wonders — Patagonia, the Atacama Desert, Easter Island — many travelers understandably breeze through. It might not wow like Rio de Janeiro or Buenos Aires, but scratch the surface and the city is alive with music, art and nightlife, against the arresting backdrop of the Andes. Divisions still run deep, 50 years after Gen. Augusto Pinochet's U.S.-backed coup d'etat ushered in a 17-year dictatorship. Just four years ago, Chile exploded into cathartic and, at times, violent unrest, as hundreds of thousands of Santiaguinos protested social inequalities. The scars are there for all to see. But if you've made it all this way, you should give Santiago a chance to impress. ITINERARY Friday 7:30 p.m. | Step to the rhythm

An inflation gauge closely tracked by the Federal Reserve rose in August, boosted mainly by higher gas prices

U.S. government bond yields ended September with their biggest quarterly rises in a year, disappointing fund managers who were hoping for relief from the historic losses bonds suffered in 2022, when the U.S.

Gold on the key London spot market declined to a six-month low on firm US dollar and a jump in Treasury yields. Hopes of interest rates staying higher for an unexpected period increased the demand for US assets. Despite a weaker Indian Rupee, domestic gold mirrored the trend with the most active MCX futures and shed its price to Rs 57500 per ten grams, its lowest level since March 2023.

Motilal Oswal Financial Services believes the RBI will keep interest rates unchanged in 2023. In an interview with Mint, he said the RBI will cut rates only after the US Federal Reserve. Talking about the IT sector, he said valuations are attractive after sharp underperformance hence long-term investors can gradually accumulate in a staggered manner.

The largest dam removal project in U.S. history is underway along the border between California and Oregon

AP reported that Union President Shawn Fain told workers in a video appearance that the strikes were escalated because Ford and GM refused “to make meaningful progress" in contract talks. Jeep maker Stellantis was spared from the third round of strikes. Also Read: United Auto Workers present new counter-proposal to Chrysler parent Stellantis ahead of planned strike Ford and GM responded strongly as tensions in the verbal dispute with the union escalated further.

Elon Musk announced that X is planning to remove the headline and text while retaining just the lead image from links to news articles shared on the platform. Currently, news links come up on the timeline of users as "cards" along with an image, source address, and an abridged headline.

gold jewellery from Tanishq's store there, but she now has the option to buy it closer home, as the Titan co-owned chain has opened an outlet at Pollachi. Tanishq's store at Pollachi, about 40 km south of Coimbatore city and opened in April last year, shows how established jewellery chains are going closer to consumers in small towns who are increasingly opting for branded jewellery with latest designs and proper hallmark unique identification numbers, which ensure purity of gold. For organised retailers like Tanishq, Malabar Gold & Diamonds and PNG Jewellers, setting up shop in small towns help tap into this growing demand at a lower cost than expanding in big cities, as real estate comes much cheaper. As much as 70% of Tanishq's 436 stores are outside large cities — 38% in places with 200,000-plus population and 32% in smaller towns — with the remaining 30% in metros and mini-metros, chief executive Ajoy Chawla said.

Key Takeaways

MUMBAI : Billionaire Anil Agarwal’s Vedanta Group unveiled a complete overhaul of its Indian metals, mining, and energy conglomerate, Vedanta Ltd, involving the demerger of its businesses into six independent companies, with a plan to list five of them by FY25. With the restructuring, Agarwal aims to create independent “pure play" companies to unlock value by drawing substantial investments for the expansion and growth of these businesses.

By Lucia Mutikani

Billionaire investor Bill Ackman said Friday that U.S. regulators have approved his unique special purpose acquisition company structure, and he's ready to hunt for a deal.

When investors consider fees, they often choose to avoid funds of funds. However, a recent analysis from Opto Investments, a fintech company for RIAs, says that funds of funds might actually be worth considering.

Godrej Properties has acquired nearly 110 acres of land parcel in Nagpur where Godrej Group's property arm plans to develop plotted residential units, with a saleable area exceeding 2 million square feet. The land parcel is located near the recently operationalised Samruddhi Mahamarg, the expressway connecting Mumbai and Nagpur, and the MIHAN Special Economic Zone (SEZ). «The addition of this new project to our portfolio fits within our strategy of strengthening our presence across key micro-markets in India,» said Gaurav Pandey, MD & CEO of Godrej Properties.

By Nelson Bocanegra and Carlos Vargas

By David Shepardson