COST Financial News

BMW has announced plans to transform its Mini factory in Oxford, England, to produce nothing but electric vehicles

The deadly firestorm in Hawaii and Hurricane Idalia’s watery storm surge helped push the United States to an annual record for the number of weather disasters that cost at least $1 billion

Thailand’s new Prime Minister Srettha Thavisin has vowed to act quickly to relieve the country’s economic problems in his inaugural speech to Parliament

Disney and Charter Communications announced a deal to settle a dispute that had cut some 15 million cable TV customers off from ESPN and other Disney-owned stations

Europe's economic outlook just took a turn for the worse

Most fast food workers in California would get a raise next year under a new bill in the state Legislature

Clues about hundreds of Greek Cypriots and Turkish Cypriots who disappeared in the clashes during the 1960s and the 1974 Turkish invasion are becoming more scarce

(Reuters) — United Parcel Service (NYSE:UPS) said on Monday its new five-year contract covering some 340,000 Teamsters-represented workers in the United States would increase cost at a 3.3% compound annual growth rate in wage and benefits over the life of the agreement.

(Reuters) — The U.S. has no large-scale commercial wind farms in operation today, but President Joe Biden's administration aims to have 30 gigawatt (GW) installed by 2030 to help decarbonize the power sector and revitalize domestic manufacturing. The federal government has already approved several large-scale projects so far, with the first two — Vineyard Wind 1 and South Fork — expected to deliver first power by the end of this year, and about a few dozen projects are in different stages of development. Some 27 power offtake contracts totaling more than 17 GW had been signed by the end of May, according to a U.S. Department of Energy report published on Aug. 24. However, inflation, supply bottlenecks and higher financing costs have eroded profitability of many projects, forcing some to cancel the offtake agreements, while others are still seeking to renegotiate the terms, the report said.

Investing.com-- Gold prices rose on Monday, taking some relief from a drop in the dollar ahead of key inflation data due this week, while copper prices rose sharply as Chinese inflation data showed some signs of improvement.

During the pandemic, shoppers splurged on higher-end new cars. Now, given the current high car costs and interest rates, drivers are shifting their focus to less expensive models. Finding one, however, might not be easy.

Explosives and fertiliser group Incitec Pivot says it is still in talks about a potential sale of its fertilisers business in a complicated transaction, even though the asset is performing below expectations as farmers switch to lower-margin products.

Tightening capital markets and strong commodity prices are combining to create the “ideal” conditions for consolidation of the ASX-listed exploration sector, which shrank for the first time in almost three years in the June quarter.

NEW DELHI : India and Saudi Arabia agreed to link their power grids, underscoring a deepening energy alliance that could significantly boost the reliability of power grids in both countries and foster economic development. The agreement on linking power grids follows another more expansive infrastructure connectivity project plan to develop an India-Middle East-Europe economic corridor. The project, announced on 9 September during the G20 summit, envisages a rail and shipping corridor connecting India, the United Arab Emirates (UAE), Saudi Arabia, the European Union, France, Italy, Germany and the US.

MUMBAI : Byju’s has put up kids’ reading platform Epic and higher education platform Great Learning for sale, three people aware of the development said, as the edtech giant tries to raise money and pay off a $1.2 billion loan it raised in November 2021. The sale will also help Think & Learn Pvt. Ltd, which runs Byju’s, weed out businesses that it does not consider central to its long-term goals, the people said on condition of anonymity.

Amara Raja Batteries Ltd, India’s second-largest lead-acid battery manufacturer. The battery industry is in the throes of change with the emergence of lithium-ion batteries, which are enjoying a boom in demand thanks to the rapid adoption of electric vehicles. If Amara Raja does not invest in the new technology, it will be finished.

The cancer drug Gleevec went generic in 2016 and can be bought today for as little as $55 a month. But many patients’ insurance plans are paying more than 100 times that. CVS Health and Cigna can charge $6,600 a month or more for Gleevec prescriptions, a Wall Street Journal analysis of pricing data found.

(Reuters) — The United States should think about eliminating corporate subsidies, including to energy companies, U.S. Deputy Treasury Secretary Wally Adeyemo said in New York on Monday.

Reserve Bank of India to file an affidavit indicating whether its circulars mandate banks to furnish/supply documents that are signed at the time of granting of loans and if the lenders are under obligation to inform the borrowers in writing about any interest rate fluctuations and also give yearly statement of their loan accounts to them. A Bench led by Justice Sanjiv Khanna while seeking RBI’s response in four weeks observed that “there has to be a complete transparency.” The apex court was hearing a Punjab National Bank’s appeal against the Punjab and Haryana High Court’s judgment that quashed the PNB’s demand notice issued to Guru Nanak Engineering Works under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Sarfaesi Act) and asked the lender to classify its NPA account as standard and also refund interest. The SC Bench while staying the HC order allowed Sarfaesi and DRT proceedings to continue in accordance with law. “The impugned judgment is wholly unjustified. It will paralyze the entire debt recovery system because such kinds of judgments lead to uncertainty in the entire banking industry,” the lender argued. The PNB argued that overcharging of interest was a pure question of fact.

Narendra Modi chose as its theme a term from Sanskrit scripture, ‘Vasudhaiva kutumbakam,’ emphasizing global unity. He had spoken of climate change, alongside terrorism and pandemics, as one of the big challenges the world faces. With the G20 leaders’ summit held over the weekend, it’s notable how quiet that green rhetoric has gotten.

For Boeing’s senior executives, returning to the office has been a smooth flight. Chief Executive David Calhoun, who took over the company just before the pandemic, started working from home and then never made the move when Boeing shifted its headquarters from Chicago to Arlington, Va., last year. Instead, Calhoun travels via private jet from two homes, one a sprawling waterfront house at New Hampshire’s Lake Sunapee, the other in a gated South Carolina resort community.