COST Financial News

A London project to create the world’s largest low-emission zone took effect on Tuesday as authorities imposed a daily charge on the most-polluting vehicles, triggering a debate between those who see the move as a sensible step to clean up the air and those who say it amounts to a war on cars. While several big European cities like Berlin and Paris also impose charges on polluting cars and trucks, London has been a pioneer on the issue. It became the first major European city to force drivers to pay a congestion fee in 2003.

alliance with Xcom, will license that and other technology from the startup. Globalstarhas agreed to issue about 60 million shares of common stock, worth some $64 million, to Xcom as a licensingfee. Globalstar has a market value of about $1.9 billion, as of Monday’s market close.

₹2000 banknotes after the Reserve Bank of India (RBI) removed them from circulation on 19 May 2023. The Reserve Bank had given nearly four months to deposit or exchange notes worth ₹2000. Banknotes in the denomination of ₹2000 must be exchanged or deposited by September 30, 2023.

Medicare, taking aim at some of the most widely used and costliest medicines in America. At stake is arguably the government’s strongest effort to date to tackle high drug costs—if drugmakers can’t persuade courts to scuttle the negotiating powers that Medicare was granted last year. On the list of targeted medicines announced by the Biden administration Tuesday are treatments for cancer, diabetes and heart disease that can cost tens of thousands of dollars a year or more, including blood thinner Eliquis and diabetes treatment Jardiance.

Qantas claims the domestic aviation market is “highly competitive”, blaming air traffic control staffing issues and weather conditions for causing the airline to cancel Canberra services at more than five times the rate of competitors.

Gold Coast Mayor Tom Tate has picked a fight with Victorian Premier Daniel Andrews, saying cancelling theCommonwealth Games was “un-Australian” and would be the only thing he is remembered for.

Mexico City | Woodside Energy Group estimates peak production from the Trion deepwater field it is developing with Mexico’s state oil company Pemex will reach 110,000 barrels per day (bpd) by 2028, Mexico’s oil regulator said on Tuesday (Wednesday AEST).

Karnam Sekar, the chairman of the much-hyped 'bad bank', has resigned amid growing differences over the unique structure and functioning of the institution that was set up a year ago to acquire the sticky loans of high-street banks. Sekar put in his papers on August 19, close on the heels of a proposal to merge National Asset Reconstruction Company of India (NARCL) — the bad bank — with India Debt Resolution Company Ltd (IDRCL) which acted as an 'agent' to NARCL, two persons aware of the developments told ET. The merger proposal emanated from IDRCL which is headed by Diwakar Gupta, former managing director of State Bank of India (SBI).The public sector NARCL and the private sector IDRCL were set up as twin organisations — with the former positioned as the 'principal' entity functioning as an asset reconstruction company while the latter operating as a resolution 'agent'. Sekar, former deputy MD of SBI, stepped down after this arrangement under the dual framework came under question. Responding to queries from ET, NARCL managing director N Sunder said, «While it is true that Karnam Sekar has resigned from the board of NARCL, those were for strictly personal reasons only.

International leisure travellers are gradually returning to India, Australia’s Intrepid Travel, which offers services to small groups of travellers for overseas vacations, said. India is the company’s second largest market where tourists from Australia, the US, and the UK arrive in large numbers. In 2021, France-based family office Genairgy, owned by Julien Leclercq, a board member and shareholder of global sports retailer Decathlon, had picked up a significant minority stake of 30% in Intrepid.

₹45,000 crore to double its production capacity from the existing 2.25 million units to 4 million units in the next seven years, with a new one million-unit facility in Haryana’s Kharkhoda besides another one million unit plant at a new, undecided location. “The era ahead of us is going to be very uncertain and challenging. Putting up the 2 million cars will cost us close to ₹45,000 crore, depending on how inflation increases.

₹4-4.5 lakh in metros while for small towns it is around ₹3 lakh," Vijay Sivaram, chief executive, Quess IT Staffing, said. “Pay difference can oscillate from 5% to 40% depending on the location .

NEW DELHI : In a relief to consumers, the Union government on Tuesday cut the price of a 14.2-kilogramme (kg) cooking gas cylinder by ₹200, terming it a gift for women ahead of the Raksha Bandhan this week. The move comes as the central government faces growing criticism over rising inflation and its impact on households. “On the occasion of Raksha Bandhan and Onam, the government has decided to reduce the price of domestic cylinders by ₹200," said information and broadcasting minister Anurag Thakur.

Bank of Montreal reported record revenue in its Canadian banking businesses during its fiscal third quarter, but the gains were offset by rising expenses and greater provisions for credit losses that pushed adjusted earnings lower.

About once a year, I have to address the issue of chasing the “10 Best Days” of the year. Statista recently presented the analysis:

Several months after the shutdown of the FTX exchange, users are grappling with persisting issues that have locked them out of their capital stored on the platform.

By Siddharth Cavale

China's state banks are throwing nearly all they have at seeking to boost consumer spending, directed by policymakers who are digging deeper into their toolkit to shore up growth in the world's second-largest economy. As soon as Tuesday, China may announce that the big state-owned banks are cutting rates on the majority of the nation's 38.6 trillion yuan ($5.3 trillion) of existing mortgages, according to people familiar with the matter. The reductions will only affect loans on first homes, according to two of the people. At the same time, lenders such as Industrial & Commercial Bank of China Ltd.

UBS Group investors are bracing for plenty of superlatives and drama as the Swiss lender prepares to unveil the first quarterly results since taking over Credit Suisse in an unprecedented government-led rescue.

The head of big bank ANZ has said the federal government’s intervention in blocking Qatar Airways flights to keep the national carrier Qantas profitable was “disturbing”.

One of Australia’s best critical minerals discoveries will cost between $1.6 billion and $2.3 billion to turn into a mine, according to a long-awaited study into future development of Chalice Mining’s Gonneville project.

Telecom Regulatory Authority of India (Trai) proposes stricter quality of service norms for telecom operators to address call drops etc, the initial assessment by carriers is that the regulator is going too deep and asking for too much detailed data. Industry executives say the proposed need for submitting state-wise data is also challenging as the network architecture is planned telecom circle-wise. Another issue pointed out by the telecom firms is around quality of service (QoS) norms for 5G.