COST Financial News

Bharti Airtel's introduction of India's inaugural wireless home Wi-Fi service, Mukesh Ambani-led Reliance Industries made a similar announcement during its 46th AGM, stating plans to launch Jio AirFiber on September 19. Ambani explained during the AGM that their extensive optical fiber network connects them to over 200 million locations. The Jio AirFiber devices is aimed at providing last-mile connectivity to many parts of India. As for pricing, while Reliance hasn't disclosed specifics, there is precedent to suggest that consumers can expect rates lower than existing options.

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X could introduce a monthly fee for all users, its owner Elon Musk said Monday, citing the need to cut down on bots. The tech tycoon has made multiple changes since taking over the site for $44 billion in October last year, when it was known as Twitter.

Surya Roshni has fixed 6th October 2023 as the record date for the stock split. The stock split will be in the ratio of 2:1. «The Company has fixed Friday, 6th October, 2023 as the record date, for the purpose of ascertaining the eligibility of shareholders entitled for subdivision of one equity share of face value of Rs 10/- each fully paid up into two equity shares of face value of Rs 5/- each fully paid-up,» Surya Roshni said in a BSE filing. In Monday's trade, the stock ended 1.9% lower at Rs 977.2.

«So, you have seen the supply come to a level where the incremental new supply is just barely 2% to 6%. It is a fairly stable supply environment and the demand environment is very strong and also fairly long term. So, this is a structural story, not just a cyclical story,» says Ashish Jakhanwala, SAMHI Hotels.I want to understand from you which phase of the business cycle in your mind is the hotel sector right now. Some say that it is coming out of a 10-year bad cycle, so now that it has only been one or two years then, now there are still three-four years to go at least because it is a cyclical industry, but this time there are very strong structural tailwinds. To your mind, how is the visibility on the cycle front?So, I think you are absolutely right.

«I think the patient realisation has also gone up. It is nearing almost per patient to about 800 bucks or something and I think there is a lot of unorganised market here,» says Gurmeet Chadha, Complete Circle Consultants.Within pharma and healthcare which are your top recommendations?So, we again are tracking diagnostics. Initially, we had issues when the disruption happened by the new-age companies.

the future of artificial intelligence, OpenAI, a startup backed by Microsoft, established an early lead by launching ChatGPT last November. The app reached 100m users faster than any before it. Rivals scrambled.

Parliament special session LIVE: PM Modi, Rahul Gandhi and other MPs gather for joint photo session She made this statement while arriving at the Parliament for the joint session of the Lok Sabha and Rajya Sabha, marking the inaugural session in the newly constructed Parliament building. ANI reported citing official sources that during a significant meeting chaired by Prime Minister Narendra Modi on Monday, the Union Cabinet approved the Women's Reservation Bill (WRB). This crucial bill aims to allocate a 33 percent quota for women in the Lok Sabha and state legislative assemblies.

Ratings agency Moody’s says Fortescue’s high rate of executive turnover is negative for its credit rating, but expressed confidence the iron ore miner had significant headroom to fund its pivot into clean energy.

Elon Musk indicated that he might transition X (formerly Twitter) into a fully subscription-based social network during a conversation focused on artificial intelligence with Israeli Prime Minister Benjamin Netanyahu on September 18. “[We’re] moving to a small monthly payment for use of the X system," Bloomberg quoted Musk telling Israeli PM Netanyahu while stating that it was the only way to eliminate the problem of bots. Musk said making someone pay a few dollars to use the service made “the effective cost of bots" very high and would require bot operators to use a new payment method every time they wanted to create a new one.

US Federal Reserve will opt to maintain its current interest rates during the meeting on September 19-20 despite persistent inflation levels exceeding the central bank's target range while the US economy remains resilient. The two-day Federal Open Market Committee (FOMC) meeting begins today (September 19) and its outcome is due on Wednesday (September 20). The US Fed has been raising rates since March 2022 and this could be the second time since then that the Fed may maintain a pause on interest rate hikes.

crude prices tends to be bad news for India as it has always weighed down on the economy in the past. With Brent crude futures at about $95 a barrel due to supply cuts by oil producing countries like Saudi Arabia and Russia, market participants have begun evaluating its impact with the country importing more than 80% of its oil needs. In addition to the economy, companies in various sectors such as paints, tyres, oil, cement, and aviation also feel the direct pain of rising prices as crude is a key raw material for many of them.

Reliance Jio Infocomm and Vodafone-Idea said that they should be allowed to set a higher cost for services such as WhatsApp and Netflix. Their rationale is that these apps are among the most widely accessed and put lopsided pressure on their infrastructure, increasing their operating costs. A submission by Bharti Airtel dated 1 September read that “large traffic originators that account for a disproportionate amount of these investments must contribute a fair share" of the network cost incurred by telcos.

New Hope Coal chief executive Rob Bishop says the Albanese government’s“same job, same pay” agenda threatens to drive the wrong outcomes and stymie investment as he delivered the biggest profit in the company’s history.

Explosives giant Orica has ramped up its targets for direct emissions reduction and has introduced an “ambition” to cut scope 3 emissions, bucking the broader trend for some energy-intensive companies to dial back on near-term climate commitments.

Reuters. The price hike will be effective from October 1. The increased prices will be applicable across its range of commercial vehicles, the Indian automaker said.

By David Shepardson

High food inflation had dented demand in several categories as household budgets were disrupted. Leading biscuit manufacturer Parle Products notched up 20% sales volume growth in the last few months, after offering a 7-10% price reduction via cuts or promotions.Emami said categories such as healthcare and pain management saw 3-4% volume growth in the last two months after promotional offers. Adani Wilmar edible oil volumes surged 25% last quarter as prices plunged 40-45% over the past year.Effect on electronics Krishnarao Buddha, senior category head at Parle Products, said there is a strong and disproportionate correlation linking price cuts, demand and volume growth. The price cut-volume growth effect is also visible in some electronic products.

By Devjyot Ghoshal and Stefanno Sulaiman

Last week, Bitcoin initiated a test of the $25,700 support level. During this time, investor interest remained robust, although there was a perceptible shift in sentiment away from this critical support threshold as the week unfolded.

Myntra is starting a new experiment with its fee for product returns imposed on customers with high return rates, people in the know said. The experiment, under a project called «return-as-a-service», comes a few months after Myntra instituted a flat «convenience fee» of between Rs 199 and Rs 299 on every order made by customers with a high rate of product returns. These customers usually made twice as many or more product returns as the average customer, a person in the know told ET.