COST Financial News

Powerball jackpot: 7, 10, 11, 13, and 24, with a Powerball of 24. The odds of winning the jackpot are one in 292.2 million, according to Powerball. The winner has yet to claim the prize. When claimed, they can choose between receiving the full $1.08 billion in a 30-year annuity or a smaller lump sum of $558.1 million before taxes. The final ticket sales pushed the jackpot beyond the initial estimate of $1 billion to $1.08 billion at the time of the draw, as reported by Powerball. The current Powerball jackpot ranks as the seventh-largest U.S. lottery jackpot and the third-largest Powerball jackpot in history, as stated by lottery officials. The top two Powerball jackpots were $2.04 billion in 2022 and $1.586 billion in 2016.

Speaking to ET, Murali Ramakrishnan, MD & CEO of the Bank said that the bank managed to improve its net interest margin. “ Net interest margin for the quarter increased to 3.34 percent during the quarter from 2.74 percent in the same period a year ago” while the cost of funds rose from 4.5 percent in June’22 quarter to 4.85 percent in the June 23 quarter, the corresponding yield on advances rose at a faster pace from 8.05 percent to 9.17 percent, he said.

Media firm DB Corp Ltd on Thursday reported over two-and-half-fold jump in consolidated net profit at Rs 78.75 crore in the first quarter ended June 30, 2023 riding on robust advertising revenue growth.

Clean Energy Ministerial and the G20 Energy Transitions Working Group meetings kicked off this week hosted by India, we saw unprecedented focus on clean transportation transitions, bringing together national and sub-national governments as well as industry and research. A stand-out theme has been a clear intent to address hard to abate segments, specifically medium and heavy duty vehicles (MHDV) and freight operations.

JSW Steel Ltd is likely to report weak earnings for the quarter ended June, primarily due to sluggish sales volumes and sharply lower realisations. India’s largest steel producer is seen reporting a 14% year-on-year (YoY) drop in consolidated net profit for the quarter to Rs 722.4 crore, according to the average of estimates given by seven brokerage firms. The consolidated revenue is seen rising just 4% YoY to Rs 39,626 crore.

BPM) major WNS reported a 9% year-on-year (YoY) dip in net profit for the first quarter to $30.1 million led by higher costs. Sequentially, net profit was down 17%. Revenue in the first quarter was $326.5 million, up 10.5% YoY and an increase of 3.7% sequentially.

Congress regime's Shakti scheme which they say is harming their business by providing free bus rides to women. The Federation of Karnataka State Private Transport Association said it had demanded that the scheme be extended to private operators as well, but the government did not comply. “Around 30-35% private buses in Karnataka are not running right now.

Swiggy is building generative AI-led solutions for its ecosystem of restaurants and delivery partners that will help in cutting down total operational cost. The Bangalore-based company’s neural search will offer personalised recommendations by understanding users' conversational and open-ended queries. The search feature is built using a Large Language Model (LLM), trained to understand terminologies related to dishes, recipes and restaurants, resulting in a more efficient search experience for consumers.

Reliable Robotics, a Silicon Valley startup aiming to automate conventional fixed-wing planes, has received approval from the Federal Aviation Administration to proceed with its plan to test and certify fully automated aircraft systems, the company said on Thursday. «We're three to four years out from being able to remotely operate these aircraft at any kind of reasonable scale,» said Robert Rose, co-founder and chief executive of the Mountain View, California-based company which aims to license its autonomous flight system to other companies.

₹2.75 trillion by 2050 due to the impacts of climate change, with changes in precipitation and temperature patterns posing significant threats to the lives of the most vulnerable populations. "At an aggregate level, the total cost of climate change for Delhi by mid century is expected to be ₹2.75 trillion," the draft action plan states.

New Delhi: Air India has finalized the agreement with US-based engine manufacturer CFM International for engines for 400 aircraft, the engine maker said on Thursday. CFM's LEAP engines will power the Tata Group-backed airline's new fleet of 210 Airbus A320neo/A321neos and 190 Boeing 737 MAX family aircraft.  The deal was first announced in February. The two companies have also signed a multi-year services agreement that will cover the airline’s entire fleet of LEAP engines.

BJP and JDS boycotted assembly proceedings on Thursday, in protest of Speaker UT Khader suspending 10 BJP MLAs for the ruckus in the house the day before. The parties allege that the post of the Speaker is being misused for political gain. The BJP has called for a no-confidence motion against the Speaker UT Khader.

Further delays to the City regulator's ESG disclosure rules could end up costing asset managers that are waiting on clarity from the watchdog to greenlight product launches.

Reliance Industries Ltd (RIL), has unsettled shadow lenders space in the country by claiming the second spot.  Post demerging with RIL on Thursday, Jio Financial Services (JFSL) boasts off an implied market capitalisation of ₹1.6 lakh crore, that's way behind Bajaj Finance m-cap of ₹4.59 lakh crore, but significantly higher to its contemporaries in the space. Shares of Jio Financial will remain at ₹261.85 until it lists on the bourses. However, upon listing, Jio Financial Services will surpass Cholamandalam Investment and Finance which has an m-cap of over ₹95,000 crore, being the second largest NBFC presently.

Tamil Nadu will have to dig deeper into their pockets to enjoy imported foreign liquor and varieties from other states, as Tasmac, the state-run liquor corporation, has raised the maximum retail prices. As per ToI report, the revised MRP list indicates a nominal increase for beer varieties, with a hike of Rs 10 for 330 ml tins and Rs 20 for 500 ml tins. However, the prices of vodka, whisky, gin, and rum varieties have seen substantial hikes, with Rs 240 increase for 700 and 750 ml bottles, and a staggering Rs 320 increase for one-litre bottles.

₹5,945 crore. The company had reported a profit of ₹5,360 crore in the year-ago period. Sequentially, the consolidated net profit was down 2.9%.

ACC and Ambuja cement brands as separate entities and no plan to merge the both, the clarification was given by Ajay Kapur, chief executive officer of both cement companies, said at an annual shareholder meeting. Earlier according to some media reports the Adani Group was looking to merge both Ambuja and ACC cement entity after it acquired them from Switzerland's Holcim in 2022 and is second largest cement producer in the country after the Ultratech Cement.

₹34,000-crore polyvinyl chloride (PVC) project in Mundra, according to a report by The Hindu Businessline (BL). With credit support from SBI, the PVC project is set to achieve financial closure by the middle of August.  The funding for the first phase of the project will be taken by the public sector banks (PSBs) which will pick up the bulk of the tab of around ₹14,500 crore. The remaining amount will be financed by private lenders, said the report.

₹78.75 crore in the first quarter ended June 30, 2023 riding on robust advertising revenue growth. The company had posted a consolidated net profit of ₹31 crore in the same period last fiscal, DB Corp said in a regulatory filing. Consolidated total income during the period under review stood at ₹573.6 crore, as compared to ₹499.38 crore in the corresponding quarter last fiscal, it added.

AMPTP) last week. The members have reacted sharply to the 12-page- document released by the SAG AFTRA and called the counter-proposals humiliating. Responding to the proposals of the producers’ association, ‘Star Trek: Discovery star Wilson Cruz said that his eyes popped up when he saw it. Similarly, ‘The Righteous Gemstones’ actress Kristen Johnston said, “They actually hate us.” Talking to journalists while picketing in front of the office of Fox, Antonio Rael said that the counter-proposals were insulting. Actor and union member Laura Martinez said that the producer association knows well that they are not going to accept these proposals. But SAG-AFTRA strike leader Jeff Reeve said that he was not shocked by the AMPTP’s counter-proposal. Another SAG-AFTRA strike leader Darsan Solomon said that the counter-proposals were actually an outright rejection of the demands. On the other hand, the AMPTP has said in a statement that to say that the association is not responsive to the demands is ‘disingenuous at best’. But most of the members of the actors’ union have said on Twitter or other social media platforms that the AMPTP has made it clear that they are not interested in resolving the issue and they simply want to reject the demands of the striking artists. The AMPTP has said in a statement that it has not released its document. It has also said that it will cost about USD 1 billion in wage hikes, pensions, healthcare, and residual increases and it should be the last offer the association has made.

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