COST Financial News

He-man’s Masters of the Universe franchise had hopes of a new live-action film adaptation brewing for years. However, it appears now that the project has been abruptly canceled at Netflix, marking yet another setback, according to reports. Netflix, as per reports, had invested about $30 million in development costs and securing talent such as actor Kyle Allen for the role of He-Man, along with directors Adam and Aaron Nee. Some insiders claim that the investment had reached twice that amount. Ultimately, Netflix decided to halt production on Masters of the Universe due to peaking «budget concerns». This unfortunate turn of events follows the project's previous stints at Warner Bros. Pictures and Sony Pictures. Netflix had initially allocated a generous budget of $200 million, and production was scheduled to commence in February. While Netflix experienced a stock drop unrelated to the budget issues, the streaming giant eventually capped its investment at $150 million, refusing to allocate further funds. The Nee brothers reportedly made efforts to salvage the project, proposing a reduced budget of $180 million and even considering shooting the movie and its promised sequel back-to-back to lower costs. Unfortunately, no middle ground was reached, although Netflix remains impressed with the directors. However, a potential change in fate may be on the horizon following the release of Mattel-owned property Barbie. If it performs well at the box office, it could spark renewed interest from studios in resurrecting Masters of the Universe. Nevertheless, it remains uncertain whether Kyle Allen and the Nee brothers will remain attached to the project.

Tata Communications reported a 29.8% dip in net profit on-year to Rs 382 crore for the first quarter led by cost pressures and change in business mix, the company said Wednesday. The pressure on profits was led by a higher mix of digital portfolio of services instead of core connectivity solutions, AS Lakshminarayanan, managing director at Tata Communications, told ET. Speaking about the general investment sentiments, Laxminarayan said that barring the India market, there is a level of caution across the board.

Brent futures were up 63 cents at $80.26 a barrel by 1325 GMT while U.S. West Texas Intermediate (WTI) crude was up 51 cents at $76.26. China's top economic planner pledged on Tuesday to roll out policies to «restore and expand» consumption in the world's second-largest economy, which could boost oil demand.

Indian Railways will reduce the types of passenger coaches on its network from 28 to two. “In the next five to six years, there will only be Linke Hofmann Busch (LHB) and Vande Bharat type coaches on the Indian Railways,” a top government official told ET, stating this is being done with the intent to help manage maintenance cost of the national transporter. “A profitable transport business is possible if the maintenance costs are managed.

₹530.93 crore for the first quarter of FY24, from ₹262 crore a year ago, on the back of steady growth in net interest margins. The company’s revenue from operations increased 7.86% to ₹3,223.3 crore in the June quarter of FY24, from ₹2,988.4 crore in Q1 FY23. “We have achieved retailization of 82% in Q1 FY24 itself, much ahead of the Lakshya 2026 goal of greater than 80% retailization.

Pune, Maharashtra, India – Business Wire India: Armstrong Dematic have established themselves as a leader in intralogistics & warehouse automation industry through their relentless pursuit of innovation and customer-centric solutions. With extensive research and development, they leverage cutting-edge technologies like robotics, AI, and data analytics to optimize warehouse operations. The tailored systems address unique client challenges, offering modular and scalable solutions for future growth.

ProChain President David Tawil explains why he predicts rate hikes are on the horizon and likely to stay high 'for a number of years.'

Onex Corp. is seeking US$750 million for a new fund dedicated to transportation investments, people familiar with the matter said, a test of its ability to raise money in a tough climate for private equity.

Canada’s luxury housing market has bounced back in recent months, but it’s also undergone a major change: the country’s four biggest markets can no longer be painted with the same broad brush.

The looming end of a pandemic-era pause to student loan payments and interest puts a spotlight on a big difference between two types of debt: subsidized and unsubsidized loans.

The Biden administration is proposing new guidelines for corporate mergers, taking steps to disclose junk fees charged by landlords and launching a crackdown on price-gouging in the food industry

Nigeria is trying to make Africa’s largest economy reliant on its own wheat production

An upcoming movie about a man who changed the course of the world’s history by shepherding the development of the first atomic bomb is expected to be a blockbuster

Major League Baseball's takeover of San Diego Padres' broadcasts involved months of planning, a playbook MLB is following this week with Arizona Diamondbacks' telecasts

2026 Commonwealth Games in Ahmedabad, and said that acquiring the hosting rights for the 2036 Olympics is its focus. The officials denied reports published in a section of media which suggested that the state authorities may bid to host the 2026 Commonwealth Games at Ahmedabad after Australia suddenly pulled out from hosting the games due to cost concerns.

diamond industry. It is also a testament to India’s entrepreneurial spirit. It will serve as a hub for trade, innovation and collaboration, further boosting our economy and creating employment opportunities," PM Modi said in a tweet.

Goel Ganga Developments, Pune’s leading developer, has recently ventured into the rental segment. The new venture titled ‘Goel Ganga Rent Easy’ will offer last-mile support to people in Pune, looking out for a place to rent. The full-stack platform also has separate verticals for buying and selling properties. The platform will handhold the buyer throughout their journey giving a seamless renting/ buying/ selling experience.

In the dynamic world of the liquor industry, one name stands out for revolutionising the Indian market with his experience-led wisdom – Dr. Lalit Khaitan, the Chairman and Managing Director of Radico Khaitan Limited. Over the years, Dr. Khaitan has spearheaded Radico Khaitan’s remarkable transformation from a modest bottler to one of India’s leading Indian Made Foreign Liquor (IMFL) players.

Tata Coffee on Wednesday reported a 5 per cent fall in consolidated net profit at Rs 62.06 crore for the quarter ended June. Its net profit stood at Rs 65.49 crore in the year-ago period.

Investing.com — ASML (AS:ASML) posted higher-than-anticipated net profit in the second quarter and lifted its full-year sales guidance as the Dutch semiconductor equipment maker was boosted by solid demand in China.

By David French