COST Financial News

A court hearing in Perth has cleared the way for Chris Ellison’s Mineral Resources to acquire the Bald Hill lithium mine from administrators as part of consolidation in the sector in Western Australia.

Acquisitive power generator Sev.en Global Investments has heaped pressure on Origin Energy’stalks with government over a life extension for the Eraring power station, saying it wanted to buy more Australian power assets and had more appetite to manage coal’s gradual exit than most incumbents.

Victoria’s new Premier Jacinta Allan should scrap $200 billion suburban rail loop, defer any other transport expenditure it can to ease pressure on costs, and charge cars to enter and leave Melbourne’s CBD to give trams on major routes a freer run in the inner city, experts say.

Construction has stopped on an interstate rail hub in southwest Sydney that is supposed to get freight off trucks on to trains after logistics group Qube scrapped a $140 million construction contract signed a year ago with Martinus Rail.

NATO summit in 2019 when Mr Trump asked jeeringly: “Where are you at? What is your number?" Mr Trudeau had more friends at that summit than Mr Trump. But since the Russian invasion of Ukraine, Canada’s position as a penny-pinching outlier has become more embarrassing for the country. The statement of Jens Stoltenberg, NATO’s secretary-general, before the NATO summit in Vilnius this month that spending 2% of national GDP on defence was no longer to be regarded as the “the ceiling" but “the floor" could have been designed to cause blushes in Ottawa.

Shadowfax on Wednesday announced an increase in its India coverage to 14,000 pincodes. This marks an increase of over 6000 pincodes from January this year which will help the company serve more than 85% of India's population.

hybrid cars because in the country, 75 per cent of the electricity is made from coal, according to R.C. Bhargava, the Chairman of Maruti Suzuki Ltd. He made the remarks while addressing the 50th National Management Convention organised by All India Management Association (AIMA). Bhargava said that the electric cars will not be clean until India gets at least 50 per cent of its electricity from renewable sources.

₹5,206 crores at Chhota Udepur in Gujarat including village Wi-Fi facilities in 22 districts on Wednesday. The Gujarat government, in a statement on Monday, said PM Modi will visit Gujarat on September 27 and inaugurate projects worth ₹4,505 crore under the Mission Schools of Excellence.

«The demand is looking great especially both in the passenger car as well as in the commercial vehicles. So once the demand is there, I think so the price levels definitely sustain,» says Anuj Kathuria, President (India), JK Tyre. We all know what is happening with crude oil prices. Internationally, rubber prices as well have been seeing a jump. Tell me firstly, what is happening to your raw material basket cost increase from first quarter up until now? As far as the input material prices are concerned, if you take the quarter one and even what we are seeing in quarter two, they have been largely range bound. There are some commodities where we saw a downward trend continuing from the quarter four of last year. In some commodities, they have been more flattish. Yes, there are indications of the crude oil, but as of now, that has not reflected in our input material costs. But we are watching it very carefully and we would be keeping those things in mind. But as of now, as I said, all the input material costs whether it is natural rubber or others, are all range bound.

quarterly profit rise. H&M, whose biggest rival is Zara owner Inditex, said September sales would be down 10% year-on-year measured in local currencies. Operating profit in the June-August period, the Swedish group's third quarter, was 4.74 billion crowns ($430.7 million) against a year-earlier 902 million. Analysts polled by LSEG had on average forecast a 4.72 billion crown profit. The year-ago figure includes a one-off cost of 2.1 billion crowns for the group's exit from Russia. «The cost and efficiency programme is proceeding at full speed and will continue to have an effect in the coming quarters,» H&M said.

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mutual funds based on past returns or themes, wealth managers suggest using mutual fund schemes effectively to meet your goals. What is goal-based investing? Every investor has some life goals that need to be reached. These goals could be immediate in the short term or 1-2 years down the line or long-term like retirement or children’s education, which are, typically, more than five years away. Investing and building a corpus in the period that is available to reach these goals is called goal-based investing. For example, if you want to plan a foreign holiday in 2025, which is 18 months away, it is a short-term goal. If you wish to plan for higher education for your child, who is three years old now, you have 15 years, and it is considered a long-term goal. If your age is 35 years and you plan to retire when you are 60, you have 25 years, which is again a long-term goal.

(Corrects to clarify method is not new and report was only referring to rear production)

By Leika Kihara

festive season sales are expected to bring the steepest online discounts since Covid, up to 60% in certain categories, with several ecommerce majors indicating a push to expand volumes. Walmart-owned Flipkart, Amazon India, Reliance Retail's Jiomart and Ajio, as well as Tata Neu are all expected to roll out attractive offers across categories such as smartphones, electronics, fashion and fast-moving consumer goods (FMCG). Executives of the brands selling online said a 10-20% higher budget from last year has been allocated for online promotions, including discounting, this year, leveraging lowering input costs. Average discounts are estimated at 20-30% in the electronics segment, 50-60% for fashion products and 30-40% for general merchandise. Mid-to-premium blitz In a rare move, ecommerce marketplaces and platforms have also lined up pre-festive sales from this week that will run till the main sales begin around October 8-10. Emails sent to Amazon, Flipkart, Reliance Retail and Tata Neu remained unanswered till press time. Discounts are likely to be the steepest for mid-to-premium models as companies want to improve their festive season sales growth over last year. Smartphone brand Realme, for instance, is going to spend ₹800 crore on consumer offers this season, compared with Rs 700 crore last year. Mobile phone industry researcher Counterpoint Market Research expects smartphone brands to offer discounts upwards of 10-15% this year, and as high as 20-25% on their 4G models, said Tarun Pathak, its director of research.

A fracture has emerged at the top of Endeavour Group after one director, Bruce Mathieson Jnr, backed Bill Wavish’s election to the board – a move opposed by the rest of the hotels and liquor retailing group’s board.

By Arathy Somasekhar

Shreyas Shipping's shares hit the 20% upper circuit on Tuesday, following the successful completion of the book-building process for delisting the company from the stock exchanges. About 4.3 million shares were tendered by the shareholders, surpassing the minimum requirement of 4.07 million shares. Transworld Holdings (THL), the promoter of Shreyas Shipping, offered to acquire shares of the company from the public shareholders in May at an indicative price of ₹338.

Star Entertainment says it has raised $565 million from investors after receiving “significant interest”, even though the take-up rate on the institutional entitlement offer was only 67 per cent.

The time-consuming and expensive process of drafting a commercial contract for construction projects has been a sore point for both law firms and their clients for decades.

When the doors to the Boola Katitjin building opened at Murdoch University’s campus this February, it was a triumph for sustainable construction given its status as the largest mass engineered timber (MET) building in Western Australia.