COST Financial News

(Reuters) -Boeing said on Wednesday it was ramping up production of its bestselling 737 MAX narrow-body jet to 38 per month from 31, a sign the planemaker was recovering from a supplier error that had scuttled its plans for an early ramp up.

Investing.com — U.S. futures edged lower Wednesday, with investors digesting a deluge of corporate earnings ahead of the eagerly-awaited Federal Reserve policy meeting.

By Aishwarya Nair

Investing.com — Milan-listed shares in Stellantis NV (BIT:STLAM) rose on Wednesday after the U.S.-European carmaking giant posted record first-half sales thanks in part to strong demand for its electric vehicles.

Siddhartha Khemka, Head-Retail Research, MOFSL, says Overall, the numbers are in line with our expectations. Today's reaction is a bit of a sell-on-news kind of thing but we have a very positive view on Bajaj Finance, given the strong growth trajectory that they have been able to maintain, plus the diversification that they are now doing in the financing business, which should help them scale greater heights.What is your view on the pharma sector and Cipla in particular?For the healthcare space, even FY23 was a weak period.

BMC) has announced that online application for setting up Ganpati Pandals on city roads can be done online starting August 1. The 11-day festival will commence on September 19 this year. As per a ToI report, to streamline the process and reduce hassle for the mandals, a one-window system will be implemented, allowing them to apply for pandal permission without separately approaching the police, traffic police, and fire brigade.

Americans are braced for interest rates at their highest in 22 years as the Federal Reserve announces its decision Wednesday.

Shibani Sircar Kurian, Senior EVP, Fund Manager & Head -Equity Research, Kotak Mahindra Asset Management, says “most of the earnings that have come are largely from financials and IT companies. The IT sector has seen a muted set of numbers but that was again more or less in line with estimates. For financials, the numbers and the overall earnings trend continues to be fairly robust.

(Reuters) -Coca-Cola Co raised its annual revenue and profit forecast on Wednesday, betting on higher pricing and resilient demand for its sodas, especially its namesake drink and Sprite.

Edelweiss Mutual Fund has made a significant move to benefit passive investors by reducing the expense ratio across its passive equity index schemes in direct plans. The expense ratio has been cut to a record-low of 0.05 percent, the lowest among Nifty 50 index funds in India. This reduction aims to boost investor returns and minimize tracking errors for passive funds. The expense ratio reduction is expected to bring down tracking error and tracking difference, which is the difference between the returns of the fund and the benchmark index it aims to replicate. This shall help these low cost passive funds stay closer to their benchmark performance, giving investors more accurate exposure to the index they are tracking.Edelweiss MFs schemes changed their expense ratio in below index funds with immediate effect — Edelweiss Nifty 50 Index Fund — Direct Plan 0.05%, Edelweiss Nifty Next 50 Index Fund — Direct Plan 0.09%, Edelweiss Nifty Midcap 150 Momentum 50 Index Fund -0.14%, Edelweiss Nifty Smallcap 250 Index Fund -0.14%, Edelweiss NIFTY Large Mid Cap 250 Index Fund -0.14%, and Edelweiss Nifty 100 Quality 30 Index Fund -0.14%. This strategic decision by Edelweiss Mutual Fund, known for its innovative and low-cost offerings, reinforces its commitment to provide good passive solutions to investors. The fund house achieved a notable milestone earlier this year by crossing 1 lakh crore AUM. With this latest move, Edelweiss Mutual Fund sets a new industry benchmark for expense ratios in India, attracting investors seeking optimal returns with minimized costs.

The United States is entering a new economic era as the Federal Reserve hikes its benchmark interest rate.

By Steve Scherer and David Ljunggren

SAO PAULO (Reuters) -Brazilian lender Santander Brasil on Wednesday reported higher second-quarter net profit on a sequential basis but saw its results weigh on group performance as they remained well below last year's levels.

₹3,437 crore in the first quarter of FY24, registering a growth of ₹32% from ₹2,596.3 crore in the corresponding quarter of last year. Net interest income (NII) of the non-banking finance company (NBFC), on a consolidated basis, in Q1FY24 increased by 26% to ₹8,398 crore from ₹6,640 crore, YoY. Bajaj Finance’s assets under management (AUM) grew by 32% to ₹270,097 crore as of June 30, 2023, from ₹204,018 crore as of June 30, 2022.

New Delhi: Defence minister Rajnath Singh on Wednesday reaffirmed his government’s stance of maintaining peace at borders, but warned that India will not shy away from retaliating if provoked. Singh was speaking at the occasion of the 24th Kargil Vijay Diwas. Earlier, he laid a wreath at the War Memorial in Drass, Ladakh, to pay tributes to the soldiers who sacrificed their lives during the 1999 Kargil war.

Visa says its adjusted third-quarter profits rose by close to double digits, as the global payments company continues to benefit from broad shift of consumer behavior from cash to using credit and debit cards

The XRP price has risen by 1.5% in the past 24 hours, climbing to $0.702540 as the cryptocurrency market as a whole barely moves today.

Even after inflation has steadily eased this year, the Federal Reserve’s policymakers still think prices are rising too fast and are almost certain to lift their key interest rate by a quarter-point on Wednesday

By Akash Sriram and Stephen Nellis

By Howard Schneider

Bajaj Auto share price is hovering around its all-time high level of ₹4,995 on Wednesday after the company reported an 42% year-on-year rise in its net profit for the fiscal's first quarter ended June (Q1FY24) to ₹1,664.77 crore, on Tuesday. Bajaj Auto share price opened at ₹4,874 apiece on BSE. Bajaj Auto stock touched intraday high of ₹4883.70 and low of ₹4842.70.