COST Financial News

04.08 / 01:19

COST Lowe's FIVE Manufacturing country No merger, Sanghi to stay listed for now: Karan Adani

The Adani Group, which announced the acquisition of Gujarat-based cement maker Sanghi Industries on Thursday, plans to increase its overall cement manufacturing capacity to 140 million tonnes in the next five years. Karan Adani, director, Ambuja Cement, told ET's Deborshi Chaki and Nehal Chaliawala in an interview that the group is open to more acquisition opportunities. Edited excerpts:How did this deal come about? There are three unique things about this company.

04.08 / 00:39

COST UPS Strategy Albemarle stage rock Lithium giant distances itself from billionaire’s attack on China

Albemarle has distanced itself from Mineral Resources boss Chris Ellison and his attack on China after he pulled out of a billion dollar-deal lithium processing deal with the global battery chemical giant on the Chinese mainland last month.

03.08 / 21:13

COST Man AXY Borrowing Costs Higher borrowing, deposit rates raise banks' funding costs

Bankers say the cost of funds will continue to be on the rise for a few quarters till the entire deposit repricing cost is factored in. India's largest private lender HDFC Bank has seen the cost of funds rise nearly 100 basis points as compared with last year. For the lender, the cost of funds stood at 4% at the end of the June quarter versus 3.1% in the same period last year.

03.08 / 19:43

COST UPS Action Fitch show Rating agencies, don’t be such a Fitch

Fitch Ratings has offered for downgrading US sovereign credit — anticipated fiscal deterioration, a rising government debt burden and erosion of governance — the first two are forward-looking, the third a normative observation. Naturally, questions will arise over the timing of the rating action. Expectations of monetary tightening bringing the US economy to a standstill are receding.

03.08 / 19:17

COST UPS Provident Waters country Pumped hydro is clean and green. It’s also hard and expensive

In 2017, when former Liberal prime minister Malcolm Turnbull announced the Snowy 2.0 pumped hydro project as an “electricity game-changer” for the power grid, many thought it would herald the start of a string of similar schemes across the country.

03.08 / 19:17

COST UPS Provident Target Southern Nielsen show Brolga and bat ruling a ‘death knell’ for Victorian wind farm

Strict conditions set around a proposed $1 billion wind farm in Victoria to protect nesting brolga and a tiny, critically endangered bat have sounded a “death knell” for wind power in the state’s south-west and make renewables targets unachievable, according to the project developer.

03.08 / 18:45

COST Lowe's Aware Manufacturing Landmark Strategy Enterprise Adani plans $4-5 bn cement bet after Sanghi acquisition

MUMBAI : Adani Group will invest $4 billion-$5 billion to expand its cement capacity to over 100 million tonnes in two years, two people aware of the matter said, on a day the conglomerate made yet another acquisition. On Thursday, Ambuja Cements Ltd, part of Adani Cement, announced the purchase of 57% promoter stake in cement maker Sanghi Industries Ltd at an enterprise value of ₹5,000 crore.

03.08 / 18:45

COST UPS Target show Wayfair shares hit over one-year high after smaller-than-expected loss

By Chibuike Oguh

03.08 / 18:27

COST UPS Cooper Boeing show Analysis-Bank of England offers 'something for everyone', except sterling

By Amanda Cooper and Yoruk Bahceli

03.08 / 18:21

COST Lowe's Comerica show US labor market resilient; productivity rebounds in second quarter

By Lucia Mutikani

03.08 / 18:17

COST UPS Citi country PUMP Saudi Arabia extends cut of 1 million barrels of oil a day, potentially boosting prices at the pump

Saudi Arabia says it will extend its unilateral production cut of 1 million barrels of oil a day through the end of September in its effort to boost flagging energy prices

03.08 / 18:09

COST UPS Provident Digital Mobile Align fall BCE says more cost restructuring possible in media division as Q2 net earnings fall almost 40%

Following a quarter in which it began cutting 1,300 positions, shuttered six radio stations and closed two foreign news bureaus, BCE Inc. says more cost restructuring could be in store in response to declining ad revenue and regulatory hurdles.

03.08 / 18:01

COST Power Solar Torrent Power to supply 132 MW solar power to Shapoorji Pallonji Company arms in Gujarat

Torrent Power Ltd (TPL) has entered into an agreement with subsidiaries of Shapoorji Pallonji & Company Private Limited (SPCPL) for the supply of 132 MW solar power in Gujarat. The estimated project cost of the 132 MW project is Rs 700 crore, TPL said in a statement.

03.08 / 18:01

COST country beautiful Latin ecommerce WTO Piyush Goyal cautions against 'game of dividing' by developed countries at WTO for favourable agreement on fisheries, ecommerce

World Trade Organization (WTO) early next year, commerce and industry minister Piyush Goyal cautioned emerging markets, developing countries and the least developed countries of the developed countries’ “game of dividing” them to get agreements on fisheries and e-commerce moratorium that address the needs of a few countries only. At the Confederation of Indian Industry’s (CII) India-Latin America & Caribbean (LAC) Region Conclave, he said that at the last WTO ministerial, many countries were trying to divide such countries through “small sops”.

03.08 / 17:39

COST Provident CEO Apple track Which apps should you use to track your expenses?

₹600." When Bathla started earning in 2020, he felt the need to discipline his spending habits like his father. So, he opened an account with Notion (a note taking app). At the end of each day, he would painstakingly key in his spends in separate categories that he created.

03.08 / 17:21

COST Action Fitch Moodys country social The US government's debt has been downgraded. Here's what to know

Late Tuesday, Fitch Ratings became the second of the three major credit-rating firms to remove its coveted triple-A assessment of the United States government’s credit worthiness

03.08 / 17:21

COST UPS Provident Flushing country Banks from 4 Arab countries are in talks to invest in struggling Lebanese banks, official says

Banks from four Arab countries are interested in investing in Lebanon’s struggling banking sector, which has been hard-hit by the small nation’s three-year economic meltdown

03.08 / 17:21

COST UPS Lowe's country CFPB CFPB sues auto dealer for illegally locking cars, re-possessing vehicles, other shady activities

The Consumer Financial Protection Bureau has sued USASF Servicing, the financial arm of a chain of auto dealerships found mostly in the South

03.08 / 17:21

COST Platform Action coinbase Bitcoin performer analysts regulatory Coinbase Analysts Remain Positive Ahead of Q2 Earnings Despite Regulatory Uncertainties

Crypto trading platform Coinbase is poised for better-than-expected, Q2 earnings despite ongoing legal pressure against the firm and other industry giants, analysts say.

03.08 / 17:21

COST Action Fighting Southern track 6 months after the East Palestine train derailment, Congress is deadlocked on new rules for safety

Congress responded to the fiery train derailment in eastern Ohio earlier this year with bipartisan alarm at railroad crashes causing potential disasters

03.08 / 17:21

COST UPS Enterprise DoorDash hits record for orders, revenue in second quarter

DoorDash set records for total orders and revenue in the second quarter as its grocery and convenience deliveries accelerated and it improved driver efficiency

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