COST Financial News

The costs associated with Norfolk Southern's fiery February derailment in Ohio have more than doubled to $803 million as the railroad works to clean up the mess and moves forward with all the related lawsuits

Narendra Modi launched a scathing attack on the Opposition at Rajkot on Thursday, saying «at a time when so much of work is happening and the country is moving ahead, it is only natural that some people will have troubles». While inaugurating the Rajkot International Airport and projects worth over '860 cr, Modi took a dig at the Opposition and said «those who kept the people of the country ever longing, those who had nothing to do with the aspirations and desires of the people are a little extra angry today seeing the dreams of the people coming true.» Keeping up the attacks, Modi said: «The corrupt and dynasts have even changed the name of their gang. The faces are old, sins are old, ways are old, only the name of the gang has changed.

Asisat Oshoala volleyed into an open goal in the 72nd minute to seal a deserved win for the Africans after Uchenna Kanu cancelled out Emily van Egmond's opener on the cusp of halftime and Osinachi Ohale nudged Nigeria ahead after the break. Australia cut the deficit to one goal when Alanna Kennedy nodded home a header in the 10th minute of stoppage time but Nigeria rode out the final seconds to claim one of the finest wins in their history at the global showpiece. The victory in front of a huge crowd at Lang Park put Nigeria top of Group B level with Canada on four points but ahead on goals scored.

NEW DELHI : Reforming India’s administrative machinery and the legal system, along with making the rupee a hard currency, widely accepted for global transactions, are top on the government’s next reform agenda, said Sanjeev Sanyal, a member of Prime Minister Narendra Modi’s Economic Advisory Council. In an interview, Sanyal said that maintaining macroeconomic stability and taking care of the bottom of the pyramid are the two key pillars of the government’s economic management strategy. Edited excerpts: Our GDP (gross domestic product) rowth will be somewhere in the 6.5-7% range.

Grimace delivered for McDonald’s. A meal celebrating the “birthday" of the retro purple mascot last month helped drive McDonald’s U.S. same-store sales up 10.3% in its second quarter from a year earlier.

Hospital operators are taking a hard line on how their vendors and suppliers secure their systems, amid a string of third-party cyber incidents that have caused data breaches and lawsuits at healthcare providers. The Health 3rd Party Trust Initiative, an industry group comprising major healthcare providers, on Thursday published best practices for assessing the cybersecurity of suppliers, such as enforcing clarity about service expectations, specific questions to ask vendors and blueprints for resolving security issues.

New Delhi: India’s foreign portfolio investors (FPIs) have opposed a recent proposal by the market regulator that requires offshore funds to place at least 10% of their secondary market bond trades through the Request For Quote (RFQ) platform. In a consultation paper floated on 5 July, the Securities and Exchange Board of India (Sebi) said the move would ensure enhanced transparency in the bond market and improve liquidity. RFQ is a centralized trading platform launched by the stock exchanges.

Delhi High Court has imposed a cost of ₹1 lakh each on the National Restaurant Association of India and the Federation of Hotel and Restaurant Associations of India for failing to comply with its April directions in a case related to levy of service charge on food bills. While hearing the petitions by the hotel bodies challenging the Central Consumer Protection Authority's July 4 last year's guidelines that imposed a ban on adding service charge unilaterally, Justice Pratibha M Singh said that «the clear impression» that the court gets is that the hotel bodies were in complete non-compliance of its April 12 order as they had filed the affidavits without serving them on the government properly so as to ensure that the hearing did not proceed before it.

Mitchell Starc has battled through shoulder pain to help have England all out for 283 after tea on day one of the fifth Ashes Test at The Oval.

Even if high, India's public debt is not unsustainable as per the standard metrics. A first criterion for sustainability is whether there is a significant rollover risk, where government suddenly finds it impossible to replace maturing debt at any price. A captive market for public debt among banks, insurance companies, provident funds and high household savings has enabled the government to fund its deficits without undue pressure on borrowing costs.

Organisations now recognise the importance of investing in their most valuable asset: their people. A recent report revealed that India’s soft skills training market size reached $ 581.2 million in 2022. It is forecasted to reach $ 1.2 billion by 2028, compounded by a growth rate (CAGR) of 11.9 per cent during 2023-2028.

₹7 lakh in a year. The TCS rate was hiked from 5% to 20% in Budget 2023. Indian residents are also subject to a limit of $250,000 on remittances under the Liberalised Remittance Scheme (LRS) per year.

South Korea and North Korea are now two countries — different from one another. The two function differently due to cultural and political differences that have not always existed. For better understanding, let's revisit history — the conflict took place on July 25, 1950, which resulted in the killing of masses, mostly innocents, however, the fight ended on July 27, 1953. But technically the South and North continue to remain at war with the signing of the Korean War Armistice that turned into the world’s longest ceasefire – over seven decades now.

Pakistan has criticised Defence Minister Rajnath Singh's remarks that India is ready to cross the Line of Control (LoC) to maintain its honour and dignity, saying the is a threat to regional peace and stability. Speaking at the Kargil War Memorial in Ladakh's Drass town on the occasion of the 24th Kargil Vijay Diwas on Wednesday, Singh said no compromise will be made in protecting the sovereignty, unity and integrity of the country. “Our greatness is not in never falling, but in getting up every time we fall.

New Delhi: AirAsia India on Thursday received approval from India’s civil aviation regulator, the Directorate General of Civil Aviation, to operate flights under the Air India Express brand, according to a company statement. On 25 July, Mint reported that AirAsia India had sought the DGCA’s nod to expedite the integration of the two airlines, including a rebranding from AirAsia India to Air India Express. With the regulatory approval in place, Air India Express and AIX Connect flights can now be marketed, distributed and operated under a common brand name, ‘Air India Express’, which paves way for the proposed legal merger of the two.

Apple CEO Tim Cook found himself in an unusual predicament when he was denied a credit card adorned with his company's iconic logo. The incident was reportedly caused by a snafu within the troubled joint venture between Apple and Wall Street titan, Goldman Sachs, which oversees the Apple Card. According to The Information, Cook's high-profile status made him a prime target for fraudsters seeking to impersonate him, leading to his account being flagged by credit bureaus in 2019.

Olympics in future, Sports Minister Anurag Thakur said on Thursday, insisting that hosting quality tournaments across various disciplines will help the country become a sporting super power. Earlier this month, Australia's Victoria state withdrew as host of the 2026 Commonwealth Games due to increasing cost. Replying to PTI's query if India is thinking of hosting the 2026 CWG, Thakur said «India will organise the Olympics in future.» «We are working in that direction and when the right time comes we will give you the good news.

Private equity firms should be motivated to hunt for deals despite the challenging interest rate environment as the potential purchase price tends to be more in their favor, according to KKR's Global Co-Head of Private Equity Pete Stavros.

NEW DELHI : The government will consider a production-linked incentive (PLI) scheme for the chemicals and petrochemicals sector as it strives to emerge as a manufacturing hub, Union finance minister Nirmala Sitharaman said on Thursday. “We are in favour of making India a manufacturing hub," Sitharaman said at the third edition of the Global Chemicals and Petrochemicals Manufacturing Hubs in India Summit organized by the Federation of Indian Chambers of Commerce and Industry (Ficci) in association with the ministry of chemicals and fertilizers . “We will be considering PLI for chemicals and petrochemicals," said the finance minister.

Global equities surged Thursday and the dollar retreated, as investors wagered the Federal Reserve has reached the end of its 16-month long policy-tightening cycle.

Croydon tram crash is still fresh in the minds of Londoners as an accident that could have been avoided. In an update, the tram operators have been fined £14m at the Old Bailey. Seven people died in the crash. While Transport for London (TfL) was fined £10m, Tram Operations Limited (TOL) was fined £4m. The operators were also told to pay £500,000 in costs. The accident occurred on November 9, 2016, when the tram carrying 69 people at fast speed, toppled over on a sharp bend.