COST Financial News

29.07 / 01:39

COST Aviat Aware Airlines IBC Aviation Ministry, MCA take different flight paths on IBC moratorium

insolvency resolution of an airline, persons aware of the details said. Under the Insolvency and Bankruptcy Code (IBC), once resolution proceedings are initiated, the transfer or disposal of assets of the stressed firm is effectively barred through a moratorium.

28.07 / 21:37

COST Provident BLOCK Manufacturing CEO US FDA approves second over-the-counter opioid overdose reversal drug

(Reuters) — The U.S. Food and Drug Administration has approved the prescription-free sale of the second opioid overdose reversal drug, its manufacturer Harm Reduction Therapeutics said on Friday.

28.07 / 21:21

COST UPS Provident Uncharted Xbox expansion Final Fantasy XIV announces fifth major expansion, Dawntrail. Here’s what it is

Square Enix announced that Dawntrail will mark Final Fantasy XIV or FF14’s fifth major expansion. This announcement was made during the Final Fantasy XIV Fan Fest keynote during the American Leg at Las Vegas alongside a brief introduction trailer. The trailer provided a re-introduction to the main characters of the series, who are seen exploring a tropical island referred to as Eorzea's «New World.» It appears that the Scions, after their tireless efforts to save existence, are now taking a well-deserved break and engaging in treasure hunts while relishing the breathtaking scenery and immersive experiences of this uncharted territory.

28.07 / 21:05

COST UPS Strategy awards J&J lawsuits Time J&J effort to resolve talc lawsuits in bankruptcy fails a second time

By Dietrich Knauth

28.07 / 20:20

COST UPS Manufacturing Nestle show Food inflation here to stay, but demand to drive India story: Suresh Narayanan, chairman Nestle India

Food inflation is here to stay, but consumption will be the centrepiece of the India growth story, Suresh Narayanan, chairman of Nestle India, said at a round table on Friday. «Consumption will be the centrepiece of India's GDP growth. We will keep having blips up and down, but companies have to have a different mindset on how to engage with consumers,» Narayanan said.

28.07 / 20:18

COST FIVE Manufacturing Toyota Highways cover US proposes to hike vehicle fuel economy standards to 58 mpg by 2032

By David Shepardson

28.07 / 20:16

COST UPS Aviat Airlines reports Akasa Air reports a loss of Rs 602 crore

Akasa Air posted an operating loss of ₹602 crore. While the airline earned ₹777.8 crore, its operational expenditure stood at ₹1,866 crore, according to a data furnished by minister of state for civil aviation VK Singh in Lok Sabha. The airline started operations last August and results are up till March 31, 2023.

28.07 / 20:16

Blockchain COST Twitter Bitcoin country Worldcoin crypto already under scrutiny in Europe

Worldcoin crypto project of OpenAI chief executive Sam Altman is already under scrutiny by European regulators over its reliance on an eye scan to verify a user's identity, France's data protection agency said Friday. Worldcoin's launch on Monday comes as the cryptocurrency industry is suffering hard times after the spectacular collapse of FTX and various legal cases against the sector's biggest players. Using eye scans, it tries to solve one of the main challenges facing the crypto industry: a level of anonymity so high that makes it vulnerable to scams and spam bots — which AI threatens to make exponentially worse.

28.07 / 20:15

COST Provident awards Shell Royalties PMT gas fields: Government moves high court against RIL, Shell firm over $5 billion royalties, taxes

Delhi High Court to recover $5 billion from Reliance Industries (RIL) and Shell-owned BG Exploration & Production India in a dispute over cost recovery provisions and reimbursement of royalties and taxes related to Panna-Mukta & Tapti (PMT) gas fields. A division bench led by Justice Suresh Kait sought a response from RIL and BG Exploration on the government's appeal alleging that the two companies have been «withholding unlawfully significant amounts of public money (exceeding approximately $5 billion) which have already become due and payable» in terms of 2016 final partial award, one in a series of such awards passed by an arbitral tribunal.

28.07 / 20:14

COST UPS Provident Target show Financial Endgame for Fed's tightening cycle challenged by easing financial conditions

By Michael S. Derby

28.07 / 18:23

COST Provident Target Fighting awards Loblaw social Howard Levitt: Employee's DEI experience a cautionary tale for companies on perils of wokeism

Two related stories hit my desk this week, both about the perils of wokeism and increasing backlash against diversity, equity and inclusion (DEI).

28.07 / 18:23

COST UPS CEO Pipelines TC Energy splitting into two companies by spinning off crude oil pipelines business

CALGARY — TC Energy Corp. has announced plans to split into two separate companies by spinning off its crude oil pipelines business.

28.07 / 18:23

COST UPS show country Inside Property poor in cottage country: Why legacy landowners can't keep their land

PORT CARLING, Ont. — Gord Carr set some old family photos on a wooden counter inside the Carr Greenhouse on Carr Road, a garden centre on the periphery of Port Carling, Ont. It was a sweltering Sunday afternoon in prime Ontario cottage country, doubly so inside the greenhouse, where Carr and his younger sister and business partner Leslie and their respective common-law spouses, Heidi Berninger and Kevin Broad, were doing what they typically do 10 or more hours a day, seven days a week, during the tourism high season: working.

28.07 / 18:21

COST UPS Manufacturing Align Nestle country Nestlé to raise chocolate, coffee capacities in India

₹4,200 crore by 2025 to expand the manufacturing capacity of its noodles, coffee and chocolates portfolio, the packaged foods company’s India chief said, as it spots opportunities in selling both mass and premium products in the country. “If you look at from 2020 till the first half of 2023, about ₹2,100 crore has already been spent on capital investments. These are in terms of augmentation of manufacturing capabilities.

28.07 / 17:31

COST Remark show performer reports Equitas Small Finance Bank Q1 result: Reports strong results with 97% YoY PAT growth and robust business performance

Equitas Small Finance Bank Limited released its unaudited financial results for the quarter ended June 30, 2023, showing strong growth and steady performance. The bank reported a Profit After Tax (PAT) of Rs. 191 Cr in Q1FY24, marking an impressive 97% YoY growth.

28.07 / 17:31

COST UPS COMPOSITE show The Pay Increases Keep Coming

The raises aren’t coming quite as hot anymore. Then again, neither is inflation. The Labor Department on Friday reported that its index of employment costs, which includes wages, salaries, bonuses and benefits, rose a seasonally adjusted 1% in the second quarter from the previous quarter, putting them 4.5% above the year-earlier level.

28.07 / 17:31

COST Target Boeing cover Bernanke Tapped to Find Out Why U.K. Central Bank Misjudged Inflation

LONDON—The Bank of England has named Ben Bernanke, a former chair of the Federal Reserve, to review its economic forecasting record, one of the first steps taken by a leading central bank to understand why they underestimated a surge in prices that began more than two years ago and dented living standards. Consumer prices started to rise rapidly in early 2021 as economies around the world began to reopen after the Covid-19 pandemic. As demand for goods and services rebounded, supply chains were hampered by lockdowns that continued in key parts of the global economy through last year.

28.07 / 17:31

COST UPS Manufacturing Mobile lawsuits 5 E2-wheeler cos face lawsuits over FAME-II

₹469 crore in remaining subsidies. The companies willing to return the subsidy amount are electric two-wheeler motorcycle manufacturer Revolt ( ₹24 crore) and Noida-based e-scooter manufacturer Amo Mobility ( ₹83 lakhs). The allegations against the seven original equipment manufacturers (OEMs) are that they flouted the phased manufacturing plan rules laid down in the FAME-II incentive scheme.

28.07 / 17:31

COST UPS Waves India bans exports of de-oiled rice bran after white rice

₹18,000-18,500 a tonne from ₹5,000 per tonne in the last few weeks due to supply tightness. In 2022-23, India produced record 5.5 million tonnes of De-oiled Rice Bran as against the previous year’s 5 million tonnes, according to the government’s estimates. Only 600,000 tonnes of total 5.5 million tonnes (about 12%) were exported by India.

28.07 / 16:33

COST cover Bank Of India Q1 Results: PAT skyrockets 176% YoY to Rs 1,551 crore

Bank of India on Friday reported a 176% jump in net profit for the June quarter at Rs 1,551 crore as compared with Rs 561 crore in the year ago period, backed by both core and non-core business growth, and a fall in bad loan provisions. The bank's net interest margin for the quarter improved by 49 bps to 3.03%. Net interest income rose 45% year-on-year at Rs 5,915 crore.

28.07 / 16:33

COST UPS Booking Enterprise reports stake Piramal Enterprises Q1 Results: Co reports Rs 509 cr profit on Shriram stake sale

Shriram Finance helped Piramal Enterprises report Rs 509 crore consolidated net profit for the April-June quarter, barring which it would have been in deep red, according to a company statement. In the June 2022 quarter, the company booked a net profit of Rs 8,155 crore. And in the reporting quarter the same printed at Rs 509 crore led by a gain of Rs 855 crore from the sale of its 8.34% in Shriram Finance for Rs 4,820 crore, the company said in a statement.

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