COST Financial News

By Jason Clemens and Niels Veldhuis

(Reuters) -Take-Two Interactive Software forecast second-quarter net bookings below Wall Street targets on Tuesday, in a sign that spending on games was under pressure amid persistent inflationary pressures.

By Niket Nishant and Chibuike Oguh

Rivian Automotive on Tuesday raised its full-year production forecast after it beat second-quarter revenue expectations on higher deliveries.

(Reuters) — Lyft (NASDAQ:LYFT) forecast third-quarter revenue and adjusted core profit above estimates on Tuesday, as it bets on cost cuts and a post-pandemic rebound in ride-sharing demand to cushion the impact of a price war with bigger rival Uber (NYSE:UBER).

Hindalco Industries saw its consolidated net profit slump 40% on year to Rs 2,454 crore in the June quarter as weak prices of aluminium and subdued volumes weighed on both its domestic and overseas operations. Revenue of the Aditya Birla group company fell 9% on year to Rs 52,991 crore, while earnings before interest, tax, depreciation and amortization fell by nearly a third on year to Rs 6,109 crore. On a sequential basis, sales fell by 5%, but operating profit rose by 5%, while the bottom-line was 2% higher. The sequential improvement in performance was driven by a recovery at US-based subsidiary Novelis and the downstream aluminium business in India, and was backed by a steady performance in the copper business, the company said in a statement. “FY24 has started on a promising note. Our focus on expanding our value-added portfolio and operational efficiencies has enabled us to deliver a sustained performance in the face of continued macroeconomic pressures,” Satish Pai, the managing director of the company said in a statement.The company’s consolidated net debt to operating profit ratio rose to 1.73 times at the end of the June quarter as compared to 1.39 times as on March-end.

Tata Group, jumped 45% in the financial year ended March to Rs 35,058 crore, boosted by dividends from group companies. Profit rose 29% to Rs 22,132 crore, Tata Sons said in its annual report. Tata Sons got a dividend of Rs 33,252 crore in FY23 compared with Rs 11,499 crore in FY22.

Beyond Meat said its revenue plunged 30.5% in the second quarter as consumer demand for its plant-based meat substitute fell despite price cuts

India is on course to displace Taiwan as the second most-weighted emerging market in the MSCI EM Index. The export-oriented Chinese and Taiwanese economies are facing the effects of a global trade slowdown, which in India's case is cushioned by domestic consumption. This widens the funnel for foreign investment in Indian equities through higher allocations by passive funds.

Hindalco Industries Ltd, the flagship of the Aditya Birla group, on Tuesday said consolidated net profit in the June quarter fell 40% from a year earlier to ₹2,454 crore as revenues declined. Revenue from operations stood at ₹52,991 crore, a 9% decline from a year earlier. Consolidated earnings before interest, tax, depreciation, and amortization (Ebitda) stood at ₹6,109 crore, and the Ebitda margin at 11%.

Medicare coverage. That will have significant implications for our society, where four in 10 adults are obese, as well as for investors in this space’s emerging duopoly: Eli Lilly and Novo. We always knew Wegovy, the weekly anti-obesity injections, helps patients lose weight.

Taiwan Semiconductor Manufacturing Co. will build its first European chip factory with support from the German government, the latest move to make the continent less dependent on high-tech imports out of Asia. TSMC said it had approved a $3.8 billion investment in the factory in Germany, with total investments in the plant expected to exceed 10 billion euros, equivalent to $11 billion, including government support.

₹ per kilometre terms—or variable, depending on where or when you are driving. It can also be tweaked on the basis of the type of vehicle one uses. It is one of the ways in which revenue loss from a decline in the sale of petrol and diesel can be recovered in a fuel-neutral manner.

open-source LLMs finds its perfect embodiment in the German term "Unternehmergeist," coined by the renowned economist Joseph Schumpeter, often translated as the «entrepreneurial spirit». Schumpeter's theories, dating back to the early 1900s, emphasise that sustained growth arises from innovative ideas, with fresh advancements consistently supplanting outdated technologies.

Even crypto industry outsiders are gaining clarity on the benefits of blockchain technology, which is a significant step forward for the ecosystem. However, a challenge remains: The industry still struggles with interoperability between blockchain networks. 

Job satisfaction matters. What matters more is the remuneration. All salaried employees will vouch for that. That’s the reason why they look forward eagerly to the first quarter of the financial year _ when salaries are revised. Thereupon, there is a mad scramble to understand the latest pay package and calculate the percentage of hike received. Not all employees can instantly decipher what the hike implies. The few who do immediately understand that taxes are a bitter part of their lives and jobs. The rest realize it when the salary is credited into their bank accounts.

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By Lananh Nguyen and Tatiana Bautzer

₹341.5 crore fell short of expectations. The company is yet to fully exhaust its high-cost inventory, but the management expects power and fuel cost to ease ahead. Moreover, the increased chase for volumes and market share has kept the industry’s near-term pricing outlook subdued.

By Dawn Chmielewski and Krystal Hu

MILAN (Reuters) -The Italian government aims to agree a broad plan to 2030 for the country's automotive industry with carmaker Stellantis and other groups involved by the end of this year, industry ministry sources said on Tuesday.