COST Financial News

27.07 / 02:51

COST UPS Target band debate Fine Low BOJ to keep ultra-low rates, may debate fine-tuning yield cap

By Leika Kihara

27.07 / 02:21

COST UPS Booking CEO show M&M looking to own nearly 10% in RBL Bank

RBL Bank. M&M said Wednesday it already owns 3.5% of the lender, a stake the conglomerate bought in secondary market transactions. The entire deal, when completed, will make M&M the biggest stakeholder in RBL Bank along with investment fund Maple.

27.07 / 02:13

COST UPS FIVE Patrick At $250k a day, battle of Perth billionaires is ultimate lawyers’ picnic

The showdown between the Wrights and Rineharts over billions of dollars of mining royalties has attracted a galaxy of legal talent to the West Australian Supreme Court at a cost of at least $250,000 a day.

27.07 / 02:13

COST Provident Lowe's Art Waters dance International Rajkot International Airport inauguration: Design, key details of Gujarat's Greenfield airport. Ten things to know

Narendra Modi will inaugurate the Rajkot International Airport on Thursday. “The total cost for the construction of the airport came out to be approximately ₹1,500 crore. The runway here is 3,000 m long, so big aircraft can land here.

27.07 / 02:01

COST Lowe's country US urges African leaders to confront Vladimir Putin on grain disruptions

State Antony Blinken on Thursday pressed African leaders attending a summit with Russia's Vladimir Putin to demand answers about a grain crisis that has propelled poorer nations towards crisis. Speaking ahead of a Russia-Africa sitdown in Putin's hometown of Saint Petersburg, Blinken insisted African leaders knew rising food costs, grain and fertiliser shortages were a direct result of Putin's war in Ukraine. Several African leaders including South African President Cyril Ramaphosa are expected to attend the Konstantinovsky Palace summit.

27.07 / 01:51

COST UPS Target Align track Lawyers Big pay increases are over for lawyers

After pay hikes of up to 20 per cent in 2022, remuneration increases in the legal sector have returned to pre-pandemic levels of under 5 per cent, according to the annual report on the market by recruiting firm Mahlab.

27.07 / 01:51

COST UPS Waves Merit Parke star Perpetual PAC GQG to counter Regal’s PAC bid, Perpetual suffers outflows

A bidding war between two of the market’s top funds management firms has broken out after GQG Partners said it intended to counter a $555 million bid lobbed by Regal Partners for Pacific Current Group.

27.07 / 00:37

COST Action band 2024 NOT India swap rates hint Street does not expect rate cuts till Aug 2024

RBI) easing monetary policy by three months to August 2024, as inflation remains a concern and global central banks demonstrate few signs of much-awaited easing. Overnight indexed swap (OIS) rates, the principal tool for hedging interest rate risk in India, have climbed sharply since the RBI's last policy in June and now suggest that the central bank would only lower the repo rate in August of next year as against the earlier pricing that pointed towards policy easing at the beginning of the next fiscal year. A rise in OIS rates typically reflects market expectations of tighter financial conditions.

26.07 / 23:01

COST Coca-Cola CEO ICE country Unseasonal rains unfavorably impact Coca-Cola’s India business

New Delhi: Unseasonal rains in the June quarter unfavorably impacted The Coca-Cola Company’s business in India but the beverage major kept its growth outlook for the market “intact". “India business was unfavorably impacted by unseasonable rain and cooler temperatures in the quarter. However, the growth outlook remains intact," James Quincey, Chairman and CEO of The Coca-Cola Company said during the company’s post earnings call on Wednesday.

26.07 / 23:01

COST Progressive Aware Enterprise Deloitte country UK pushes for bottling of whisky in third country

MUMBAI : British officials negotiating a free trade agreement (FTA) are advocating bottling their whisky ‘in transit’ in a third country for reasons related to cost, logistics, and ‘premium-ness’ of the products, a person aware of the development said. Negotiations on alcoholic beverages assume significance as India considers opening its vast market to countries such as the UK, Australia, Canada, and the European Union (EU) under the FTA route. India emerged as the world’s largest consumer of scotch whisky—a key UK export—last year.

26.07 / 19:11

COST SEC Action ROBO cover SEC proposal would require brokers, advisors to remediate conflicts related to use of AI

Brokers and investment advisors would have to remediate conflicts of interest related to interactions with investors conducted through artificial intelligence, predictive analytics and similar technology under a proposal released Wednesday by the SEC.

26.07 / 18:57

COST UPS Manufacturing Intel electronic Elusive quest for semiconductor self-sufficiency

Semiconductors are the life blood of modern electronics, and their demand is increasing exponentially. India, a large consumer of electronics, is importing almost all its semiconductor needs to the tune of $24 billion a year (demand is expected to touch $110 billion by 2030). Massive supply disruption during the pandemic and emergence of virulent geopolitical tensions across the world, is forcing nations to seek self-reliance for accessing this precious commodity.

26.07 / 18:51

COST UPS Target Remark track Fed approves hike that takes interest rates to highest level in more than 22 years

WASHINGTON – The Federal Reserve on Wednesday approved a much-anticipated interest rate hike that takes benchmark borrowing costs to its highest level in more than 22 years.

26.07 / 18:25

COST Aware Manufacturing Fighting show performer Hedge Funds Seek to Cut Off $1 Billion Meant for Opioid Victims

A group of hedge funds is devising a plan to cut off about $1 billion meant to help victims of opioid addiction, opening the way to keep some of the money for themselves. Mallinckrodt, one of America’s largest manufacturers of opioids, last year agreed to pay $1.7 billion to resolve thousands of lawsuits brought by state and local governments and opioid-addicted individuals, who accused the company of helping cause a public-health crisis.

26.07 / 18:25

COST UPS FIVE Platform country Whyte & Mackay single malt whisky finds key mkt in India

₹5,000 to ₹12,000 in Delhi and West Bengal, and is now looking to add two new variants in India with its local partner VBev, owned by Vinspri Distributors Pvt. Ltd, which posted revenue of ₹9.2 crore in FY22 from ₹6 crore in the previous fiscal year. VBev’s profit after tax was at ₹96 lakh in FY22, from a loss of ₹1.8 crore in FY21, according to filings with the ministry of corporate affairs, and accessed via business intelligence platform Tofler.

26.07 / 17:47

COST Citigroup PEP exclusive Nigel Farage and the Scandal That Engulfed British Banking

The collision of Brexit cheerleader Nigel Farage, a regal private bank, the BBC and the Conservative Party exploded into a quintessentially British scandal this week, costing the job of one of the country’s top bankers and igniting a debate over how lenders protect their reputations without discriminating against outspoken clients. The damage was apparent on Wednesday.

26.07 / 17:37

COST Booking AXY reports Axis Bank reports 41% growth in Q1

MUMBAI : Private sector lender Axis bank reported a 41% year-on-year (y-o-y) increase in net profit for the first quarter of the current fiscal, driven by higher net interest income and fee income. Net profit stood at ₹5,797 crore in the three months through June, compared to ₹4,125 crore during the corresponding period last year. The bank’s profit missed analyst estimates.

26.07 / 17:37

COST UPS Chase NIFTY Steer clear of these three behavioural pitfalls during bull markets

Panic selling at all-time highs Whenever markets hit an all-time high, it’s normal for investors to feel uneasy and consider selling equities in anticipation of a fall. But, here is why this maybe a bad idea. All-time highs are a normal and inevitable part of long-term equity investing.

26.07 / 17:37

COST UPS Provident show performer Mutual funds: Why direct plans are stealing the show

₹10 lakh over a five-year period in a regular plan and the current value of the investment is ₹18 lakh. This implies a profit of ₹8 lakh and you are liable to pay taxes on the profit during redemption. Now, since the investment horizon was more than one year, you have to pay a 10% long-term capital gains tax on the gains made.

26.07 / 17:01

COST SEC Platform Cyber US SEC adopts new cyber rule, unveils brokerage AI proposal

By Douglas Gillison

26.07 / 16:57

COST Citi Provident Maharashtra govt says no stamp duty on redeveloped housing society apartments

housing society that undergoes redevelopment need not pay stamp duty on the allotted permanent accommodation as part of the project. Following this, the member of the housing society undergoing redevelopment is expected to pay only Rs 100 as stamp duty, while the principal agreement between the development and the housing society will be charged as per the conveyance.

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