COST Financial News
09.08 / 06:23
COST
Provident
Waves
Manufacturing
Strategy
Rare earths junior says sell to China or ‘twiddle your thumbs’
Former Fortescue Metals executive Russell Scrimshaw says his rare earths company will get into production several years sooner because of Wednesday’s decision to partner with China’s biggest rare earths importer.
09.08 / 05:31
09.08 / 05:29
COST
CEO
love
Bumble declines as higher expenses fan concerns about Tinder competition
Bumble shares fell 4% on Tuesday after the dating app owner forecast lackluster third-quarter revenue and posted a jump in expenses, sparking fears that stiff competition with Tinder-owner Match was affecting its business. The operator of Bumble, Badoo, and Fruitz apps said its total operating costs rose more than 7% in the June quarter as it spent more on product development and marketing.
09.08 / 05:01
COST
UPS
Provident
FIVE
Manufacturing
country
How America is failing to break up with China
Foxconn, the world’s largest contract manufacturer. This year the Taiwanese giant has built or expanded factories in India, Mexico, Thailand and Vietnam. The Chinese production sites once beloved by Western companies are firmly out of fashion.
09.08 / 04:09
COST
UPS
Target
SENSEX
country
share price
Coal India share price rises 2% after Q1 results; should you buy the stock?
₹233.05 against the previous close of ₹230.25 and traded with a gain of 1.26 per cent at ₹233.15 on BSE around 9:20 am. Shares of Coal India have underperformed the equity benchmark Sensex in the last one year. The stock is up about 7 per cent while the Sensex has gained about 12 per cent in the last one year period.
09.08 / 03:43
COST
Reuters
Disney
Parke
film
Actor
Costs
Disney forms task force to study AI applications and cut costs amid Hollywood's writers and actors strike
start-ups, as informed by three sources who spoke to Reuters. Disney presently has 11 open job positions that call for individuals well-versed in artificial intelligence or machine learning.
09.08 / 03:33
COST
UPS
CEO
track
exit
Beach CEO in sudden exit as Rich Lister Stokes tightens grip
Beach Energy chief executive Morne Engelbrecht has made an immediate exit and will be replaced by senior Santos executive Brett Woods in a move that is being directly linked to the tightening hold of billionaire Kerry Stokes’ Seven Group Holdings on the board of the under-pressure oil and gas producer.
09.08 / 03:21
COST
DVR share swap to cost Rs 100 crore: Tata Motors
Tata Motors’ move to cancel its DVR (differential voting rights) shares, which are trading at a discount to its ordinary shares, will cost the company Rs 100 crore, said chairman N Chandrasekaran, primarily due to stamp duty. The auto major is cancelling DVR shares, which carry lower voting rights but higher rate of dividend, 15 years after it issued them. With shareholders quizzing Chandrasekaran on Tata Motors’ equity capital reduction move at the annual general meeting (AGM) on Tuesday, the chairman said that it is being done with the objective of fairness for both kinds of shareholders (ordinary and DVR).
09.08 / 02:49
COST
UPS
Can a married woman set up a HUF with just her parents?
Can a Hindu family, comprising a married woman, her parents and her two very young children form a Hindu undivided family (HUF)?
09.08 / 02:25
COST
Provident
Income tax: Taxation of shares and fractional shares received on the merger
HDFC Bank, I am entitled to some fractional shares of HDFC Bank Limited. When and how the transaction will get taxed? How do I report fractional entitlement in Schedule 112A of ITR which does not accept fractional quantities of shares? As per the provisions of Section 47 of the Income Tax Act, allotment of shares on the merger of two companies is not treated as a transfer and therefore there are no tax implications in respect of shares of HDFC Bank Ltd. allotted to you in respect of shares held by you in HDFC Ltd.
09.08 / 01:51
COST
FIVE
awards
Patrick
show
Kylian Mbappe contract dispute overshadows start of Ligue 1 season
Mbappe hangs over French football ahead of the new Ligue 1 season, which starts this weekend. The Paris Saint-Germain superstar has won France's player of the year award four times in a row and been Ligue 1's top scorer in five straight seasons, but his contract dispute with the champions has dominated headlines all summer. Mbappe has refused to sign an extension to his PSG deal, meaning he can leave for free next year, with Real Madrid long seen as his preferred destination.
09.08 / 01:33
COST
UPS
Citizens
Drop
moody’s
US bank shares drop as Moody’s cuts ratings, warns on risks
US bank stocks declined after Moody’s Investors Service lowered its ratings for 10 small and midsize lenders and said it may downgrade major firms including US Bancorp, Bank of New York Mellon Corp, State Street Corp and Truist Financial Corp.
09.08 / 01:03
COST
UPS
Lowe's
show
Low
copper
Gold Prices
Gold prices hit 1-mth low, copper sinks as risk-off favors dollar
Investing.com-- Gold prices steadied near one-month lows on Wednesday as worsening market sentiment and the prospect of more Federal Reserve rate hikes pushed investors into the dollar.
09.08 / 00:47
COST
UPS
Provident
Digital
Citizens
country
Operations cost may go up for global firms under new data regime
The Digital Personal Data Protection (DPDP) Bill, which was passed in the Lok Sabha on Monday, provides for an easy cross-border movement and processing of personal data in all geographies, except those barred by the government from time to time. The bill, however, also stipulates that this provision shall not restrict any other laws which mandate and provide “for a higher degree of protection for or restriction” on the transfer of personal data outside India by a data fiduciary. The sectoral laws by various regulators will supersede the provisions of the DPDP Bill when it comes to mandates for data localisation, a senior government official told ET.
09.08 / 00:47
COST
Aware
Deloitte
Covenant
Byju's interest cost on term loan may jump by $50-60 million a year under new terms
The interest proposed by Byju’s works out to 11.0-11.5% at least, they said. This may even change as the terms have not yet been finalised and the two sides were still continuing their discussions this week, the people added.Also read | Byju’s, Davidson Kempner in talks to settle dispute “This would increase the total pay-out annually by about $50-60 million,” a person aware of the matter said, adding that creditors are yet to sign off on this.
09.08 / 00:47
COST
FIVE
Booking
Gap
Software
Cognizant retaining market share post the change of guard
Infosys was expected to pull ahead of Cognizant this year in the revenue sweepstakes, building on the 15% annual growth logged over past two years, but a pronounced tempering in sales guidance by India’s second-biggest software exporter will likely allow its Nasdaq-listed rival to widen the gap. While Infosys clocked $18.2 billion for the fiscal year-ended 2023,Cognizant reported a revenue of $19.4 billion for calendar year 2022. According to ET’s calculations, the New Jersey-based firm’s revenue for the comparable FY23 period too came in at $19.4 billion.
09.08 / 00:47
COST
Authum converts RInfra and RPower debt into equity
Authum Investment & Infrastructure has invoked guarantees issued by Anil Ambani-promoted Reliance Infrastructure (RInfra) and Reliance Power (RPower) to the erstwhile Reliance Commercial Finance (RCFL) and Reliance Home Finance (RHFL), and converted ₹1,043 crore of debt of the two companies into equity. Boards of RInfra and RPower approved the preferential allotment on Saturday following which a notice was issued for shareholder approval on Sunday. Authum had completed the takeover of Anil Ambani companies RCFL and RHFL through a lender-led process in October and March, respectively.
08.08 / 23:15
08.08 / 23:15
08.08 / 22:25
COST
UPS
CBA posts $10.2b profit, margins sliding
Commonwealth Bank has lifted full-year cash profits 6 per cent to a record $10.16 billion, propelled by higher official interest rates and in line with expectations, even as net interest margins suffered in the second half due to increasing loan competition and funding costs.
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