COST Financial News

Downer EDI has warned market conditions remain “challenging” particularly over the next six months as the company sealed an annual net loss of $386 million.

By Nate Raymond

By Sourasis Bose

By David Milliken

Blocking Qatar Airways from adding flights will cost the economy more than $500 million a year in tourism revenue, according to industry modelling, but Transport Minister Catherine King told parliament the decision was made to protect local jobs.

By Dawn Chmielewski

Book Lovers Day more significant and interesting. Digital media offers the unique opportunity of reading a book free of cost or by paying a small amount.

Commonwealth Bank chief executive Matt Comyn has defended the bank’s record $10.2 billion annual profit against claims of profiteering, saying it will fortify the balance sheet to support struggling borrowers.

electric vehicle market in India will prove to be a tipping point for faster penetration of luxury vehicles, as the EV mass market price points shift from ₹10 lakh- ₹20 lakh to ₹30 lakh- ₹35 lakh, making the transition from mass market to luxury vehicle “more gradual" and “easier", said Santosh Iyer, managing director and chief executive, Mercedes Benz India. The company, which sells only two electric models in India—its flagship EQS sedan and a seven-seater electric sport utility vehicle (SUV) EQB—said it will launch three to four EVs within 12-18 months. However, EVs are not the “top priority" for Mercedes, due to a lack of availability globally.

Americans are so worried about Social Security running out of money, they are giving up their full retirement benefits.

₹3,100 per quintal for rice under the so-called open market sale scheme domestic (OMSS-D), which did not find many takers given that it was priced above market rates. Buyers on Wednesday picked up only 1,500 tonnes, and a total of 495 tonnes in the previous five auctions, prompting government to cut the base price by ₹200 a quintal. The new reserve price will take effect from next week’s auction.

NEW DELHI : The government will consult the industry before implementing the Digital Personal Data Protection (DPDP) bill to ensure a smooth rollout roadmap, minister of state for electronics and IT Rajeev Chandrasekhar said. In an interview, Chandrasekhar said the government is open to the industry’s suggestion for an extended time frame but stressed that the new law will curb the exploitation of user data and make it costly for those who violate rules. Edited excerpts: This is an important fundamental law that has been put into place, and there will be a few more things that we will do down the road very quickly that will complete the global standards cyber law framework for this trillion-dollar digital economy, which is our goal.

Many Indigenous communities in Canada are in crisis because of a severe shortage of adequate housing. According to a forthcoming study by the Assembly of First Nations and Indigenous Services Canada, First Nations reserves require $135 billion to address this deficiency. And that doesn’t include housing shortfalls in Métis settlements and Inuit communities, which could push the total need much higher.

During the first quarter of 2023, no new unicorns emerged, unlike the same period in the previous year when 14 startups reached the $1 billion valuation milestone. In fact, a recent report highlighted a significant drop in new additions to India’s unicorn club during 2023, signalling a slowdown in the country’s startup ecosystem.

As climate change ratchets up temperatures across the U.S., millions of the poorest Americans grapple with enduring perilous heat or paying costly air conditioning bills

A decision by a bloc of West African nations to shut down their borders with Niger as a way of sanctioning its coup plotters is harming local businesses in northern Nigeria, where a cross-border economy has boomed for years

The Supreme Court is reinstating a regulation aimed at reining in the proliferation of firearms without serial numbers, called ghost guns

A federal judge is heaping sanctions on Southwest Airlines for, he says, failing to follow his orders in a case involving a fired flight attendant's free-speech rights

Waves of severe thunderstorms in the U.S. during the first half of this year led to $34 billion in insured losses, an unprecedented level of financial damage in such a short time as climate change contributes to the frequency and severity of violent me...

The U.S. Postal Service has reduced its volume of shipments by aircraft by 90% over two years, putting the service on course to save $1 billion in annual transportation costs

Procurement through the GeM portal have enabled the government to save over Rs 45,000 crore since its launch in 2016, the commerce ministry said on Wednesday. Government e-Marketplace (GeM) is India's online marketplace for public procurement.