COST Financial News

“Gran Turismo: Based on a True Story” and “Barbie” are in a dead heat for the box-office crown, with the video game adaptation just edging Greta Gerwig’s pop sensation, according to studio estimates Sunday

The longest nationwide power outage in Kenyans’ memory remains a mystery as the government-owned power company blames a failure at Africa’s largest wind farm, which laid the responsibility on the power grid instead

Data Bill «right», applying «strong protection» for personal data while allowing cross-border data flow, said Brad Smith, Microsoft's vice chairman and president. In an interview to ET, Smith, the second-ranking executive (after chairman and CEO Satya Nadella), called artificial intelligence the greatest advancement for human thinking since the invention of the printing press. Edited excerpts.What are your preliminary thoughts about the data protection bill? I would affirm what I said a year ago.

Binance, the world's leading cryptocurrency exchange, has confirmed that it will delist three cryptocurrencies: SNM (SONM), SRM (Serum), and YFII (DFI.Money) on August 22, 2023.

SYDNEY (Reuters) — Australian retail sales rebounded in July after a sharp fall the previous month, but the annual rate slowed further, a result that should not upset the outlook for interest rates as high borrowing costs work to slow consumer spending.

On September 14th, 2023, the cryptocurrency exchange Txbit will officially cease its operations, as confirmed by an announcement on the platform's Medium page. This decision comes in light of significant market shifts and regulatory challenges that have impacted the crypto industry.

Hindustan Unilever, Swiggy, Coca-Cola, Zomato, Amul, Flipkart, BigBasket and Bisleri are among the larger companies switching to EVs to service consumers and retailers. «We have started EVs for last-mile deliveries for ice-cream vending,» said Jayen Mehta, managing director of India's largest dairy maker Amul, which sells ice-cream, milk, butter and cheese. «Our milk distributors too are using EVs in Delhi, Uttar Pradesh, Haryana and Punjab.» The ecommerce sector is leaning heavily toward electric three-wheelers. «The operating costs are about a fraction of diesel or CNG-driven ones, translating into substantial savings for operators,» said Amitabh Saran, cofounder of electric three-wheeler company Altigreen, which has supplied EVs to Amazon, Flipkart, BigBasket, HUL, Bisleri and Coca-Cola.

Summer holidays involved a houseful of hungry children to feed all day. She made it all seem effortless even if she was adamant about toiling alone in the kitchen. It was only after we cousins grew up to manage our kitchens that we appreciated what it took to feed a family.

India Inc. reported a healthy year-on-year (y-o-y) jump in net profit growth in the June 2023 quarter, aided by declining input costs.

Queensland coal export terminal Dalrymple Bay Infrastructure says chief executive Anthony Timbrell will step down as higher fees from handling coal exports helped lift interim net profit five-fold to $34 million.

Here is your Pro Recap of the top takeaways from Wall Street analysts for the past week: upgrades for Netflix, Fulcrum Therapeutics, and Grab Holdings, and downgrades for Medical Properties Trust and Dick's Sporting Goods.

The banks have urged the Albanese government to assess how every existing law might capture the use of artificial intelligence before drafting new ones, to protect the financial industry’s AI rollout from unintended regulatory delays.

(Reuters) — National Australia Bank (OTC:NABZY) is preparing to cut around 60 jobs of the 600-staff at its markets division and undertake a broad restructuring exercise across its seven business, the Australian Financial Review said on early on Monday citing sources.

The coming decade will see the largest global transfer of wealth in the planet’s history, as the Baby Boomers’ accumulated treasure of more than $US68 trillion goes to their heirs.

small enterprises need to be kept in mind so that they do not become inflationary and impact growth, Sanjiv Puri, chairman and managing director, ITC, told ET. «We have to think of the solutions so that we are not creating a structurally inflationary environment, which will not be good for growth,» Puri said on the sidelines of the CII B20 Summit in New Delhi, pointing to the need for the development of models that are economically viable. Puri, the head of the ESG in Business Action Council, noted technology accessibility, funding at attractive rates and sharing of cluster-based assets as solutions to control the cost of ESG compliance for MSMEs. «If everything becomes cost plus, the environment is going to become inflationary, which will ultimately impact consumption,» Puri noted, highlighting that the finance minister, in her B20 address, also made the point of containing inflation. Puri also highlighted that larger players also had a responsibility, and the CII-ITC Centre of Excellence for Sustainable Development was working on making a simplified ESG framework and ensuring that it percolates to the rest of the supply chain. «We have made a toolkit for MSMEs,» he said. The chairman of the Indian multinational company noted that the market needed both incentives and disincentives to implement ESG and evolve into a regulatory pathway. «It has to be mandated with market-based incentives and disincentives.

Bob Iger led a 45-minute town hall session in Burbank, California. During the exchange, Iger took on questions from anxious employees on thorny issues like the recruitment ban, the outlook for conventional television enterprises, the possible sale of the company, and the company’s stance on LGBTQ concerns that had plagued the term of his predecessor Bob Chapek. Regarding the latter, Iger emphasised that a fundamental principle of Disney's storytelling was embracing inclusion, acceptance and tolerance, and it was crucial for the company to uphold this. But his big message to the employees in the end was: “The status quo is gone.” As he has set about reshaping Disney, the path has been arduous for Iger. The CEO has been dealing with a spectrum of challenges, from tackling streaming losses and dipping linear subscriptions to navigating advertising headwinds. Concurrently, he has had to manage an internal reorganisation that empowers creative divisions for content authority and distribution, while addressing vital cultural aspects like LGBT inclusion. Then there’s the key task of identifying a successor. The CEO has acknowledged that the task of turning around the Disney business has proven more challenging than he anticipated. Over the past year, Disney's stock price has fallen by 30%. On August 25, the stock closed at $83.27, mirroring levels last seen in May 2014. In the June quarter, revenue climbed 4% to $22.33 billion, yet missed forecasts. A $2.7-billion restructuring expense led to a $460-million loss, compared with last year's $1.4 billion profit. Iger's urgent focus is to halt the decline of the TV market, curb streaming losses, and arrest the stock price slide.

Reliance Jio is focusing on expanding its consumer base by pushing sales of the Jio Bharat phone, veering away from paying high incentives to encourage mobile number portability (MNP), as the telecom market leader looks to moderate sales and marketing costs, industry executives and experts said. The telco saw sales and general administration costs sharply increase over the past few quarters — to ₹540 crore in the quarter ended June 30, 2023, from ₹310 crore in the fourth quarter of FY22, indicating a jump of 74% over six quarters. «Jio is evidently looking to expand the subscriber base, but it is now focusing on capturing the feature-phone market by migrating users to the Jio Bharat phone, rather than encourage MNP since that was resulting in a lot of negative landing,» an executive with knowledge of the situation said. Telcos give their distributors incentives for enabling port-ins from rival networks.

MUMBAI : A single market participant took a derivatives position worth an estimated ₹600 crore in Adani Enterprises Ltd (AEL), flagship of the Adani Group and a Nifty 50 stock, just days before India’s markets regulator submitted its status report on the Adani probe to the Supreme Court on 25 August. While it’s not known whether the position is a hedge or a punt, market experts said such positions are normally taken in anticipation of a sharp price move based on an event. Designated ‘Client 1’ by National Stock Exchange (NSE), the participant initiated a position of 2.24 million shares, or 3.04% of AEL’s marketwide position limit (MWPL) of 73.7 million shares on 22 August.

₹1.97 trillion production-linked incentive (PLI) scheme. On the face of it, the PLI scheme has nothing to do with tweaking tariffs. It is focused on incentivizing companies to increase domestic production across 14 sectors, rather than manufacture products outside India.

NEW DELHI : Indian companies’ ability to repay debt is gradually improving despite rising interest rates, aided by cheaper inputs lifting operating performance, significant debt reduction in the recent past, and a fall in working-capital requirements. A Mint analysis of 382 companies in the BSE 500 index showed that interest coverage ratio (ICR) stood at 7.02 times in the June quarter, better than 6.73 times in the March quarter. The figure, however, is still lower than 7.22 times a year earlier.

Mint. “The low-cost airline is streamlining its business verticals and bringing in pay parity between the workforce of the two erstwhile airlines," one of the people cited above said. Last week, the airline harmonized and rolled out new grades, compensation, and benefits across the organization, enabling greater transparency and career progression opportunities for all employees.