COST Financial News

In a landmark transaction for the Australian economy, one that points to the arrival of accessible agricultural payments technology, a NSW cattle auction was settled by two farmers using a digital version of the Australian dollar backed by the Reserve Bank.

Big Saving Days Sale 2023. The sale has brought a massive price cut on the iPhone 11, making it more affordable than ever before. With an unprecedented discount of ₹36,850, the iPhone 11's price drops to just ₹3,149 (inclusive of all the discounts offered), presenting an irresistible deal for customers.

Commonwealth games may make a comeback in India after 16 years as Gujarat government is considering the prospects to make a bid to host the next Commonwealth Games. This comes as Australia withdrew its offer to host the 2026 Commonwealth Games, yesterday due to rising costs. As per a ToI report, the original plan was to prepare Ahmedabad for the 2030 Commonwealth Games with a goal of completing all infrastructure projects by 2028.

₹1,443.35 apiece in the early trade Wednesday after the private sector lender posted decent earnings for the first quarter of FY24, with strong loan book growth and improvement in asset quality, leading to bullish views from analysts. IndusInd Bank reported a standalone net profit of ₹2,123.6 crore in Q1FY24, witnessing a growth of 32.5% from ₹1,603.29 crore in the same quarter last year. Net interest income (NII) increased 18% to ₹5,862.5 crore from ₹4,125.3 crore, YoY.

Industrial equipment used to make semiconductors, solar cells and electric vehicles presents a great way for corporate executives, bank managers and government bureaucrats to keep the wheels turning even as consumers balk at spending money and foreign buyers cut purchases of Chinese exports. The US-China tech cold war and continuing trade tensions serve as the perfect excuse to rack up expenditures that can support local businesses, keep people employed, and add to the economy. Only one line item in China’s industrial output figures, out of almost two dozen, consistently posted double-digit growth figures in recent months.

“There is a kind of FOMO from foreign players as they can’t miss India as an investment but at the same time, they are also very specific about the sectors in which they want to invest”, says Vikram Kasat- Head Advisory, Prabhudas Lilladher Pvt Ltd. In an interview with ETMarkets, Kasat who has over 13 years of experience said: “In Bull Case, we value NIFTY at 10-year average (20.8x) and arrive at bull case target of 24353 (23878 at LPA PE)” Edited excerpts:Where do you see markets headed amid interest rate headwinds? The US Federal Reserve's decision to raise interest rates can have an impact on the Indian market, particularly in terms of capital flows and investor sentiment. In this case, it may lead to a strengthening of the US dollar, which could potentially put pressure on the Indian rupee and create volatility in the equity markets.

The National Retail Federation estimates retailers lost $100 billion last year to theft.

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

Serhant Associate Broker Nile Lundgren weighs in on the middle-class getting priced out of homeownership.

Gold prices pulled back on Wednesday from a 1-1/2-month high scaled in the previous session even as investors bet that recent U.S. economic readings make the case for a pause in the Federal Reserve's interest rate-hike stance. * Spot gold was down 0.1% at $1,978.09 per ounce by 0043 GMT, after hitting its highest since May 24 at $1,984.19 on Tuesday.

Richard Cooper’s phone is a something of an early alarm bell for the global economy. Lately, it’s been ringing a lot.

Microsoft on Tuesday said it would charge at least 53% more to access new artificial intelligence features in its widely used office software, in a glimpse at the windfall it hopes to reap from the technology. The company also said it would make a more secure version of its Bing search engine available immediately to businesses, aiming to address their data-protection concerns, grow their interest in AI and compete more with Google. At its virtual Inspire conference, the company said customers would pay $30 per user, per month for its AI copilot in Microsoft 365, which promises to draft emails in Outlook, pen documents in Word and make virtually all an employee's data accessible via the prompt of a chatbot.

Cooper’s phone is something of an early alarm bell for the global economy. Lately, it’s been ringing a lot. A partner at Cleary Gottlieb, a top law firm for corporate bankruptcies, he’s advised businesses worldwide for decades on what to do when they’re drowning in debt.

President Joe Biden’s administration is hosting state legislators from 41 states to the White House on Wednesday for discussions on how legislatures can make child care more affordable for families

The crypto hardware wallet producer Ledger is looking to expand into the Latin America region, and is targeting growth in “Central and South America.”

Woodside Energy posted a 29 per cent dive in quarterly sales after a drop in oil and LNG prices and a dip in production in its weakest quarter since merging with BHP Petroleum in June last year.

LTIMindtree in the June quarter, helping explain its underwhelming revenue and profit scorecard despite an encouraging order pipeline, but CEO Debasis Chatterjee believes stronger offshoring demand undergirded by cost efficiencies helped expand operating margins at the newest member of the elite Nifty 50 club. “We expected quite a few deals to close in Q1, but (those) got dragged into Q2,” Chatterjee told ET.

HCL Group, which began decades ago as a maker of computer hardware and peripherals before establishing its software credentials globally, plans an ambitious foray into India’s fast-evolving semiconductor ecosystem, several officials and industry executives aware of the development told ET. The HCL Group is close to submitting a proposal to the Centre to set up an assembly, testing, marking, and packaging (ATMP) unit for semiconductors, they added.

Wipro and putting it back on the growth path “is still work in progress”, said chief executive Thierry Delaporte. In an interview with ET’s Sai Ishwarbharath and Surabhi Agarwal, he said Wipro is betting big on artificial intelligence. Edited excerpts:Q: While most IT companies have spoken about a tough demand situation, what explains Wipro guiding for a revenue decline in the current quarter as well? A: The current economy has driven a slowdown across industries–more pronounced in some industries like BFSI (banking and financial services), which is a third of our business, and in technology, which is another 12% or 13% of our business.

The Australian state of Victoria backed out of hosting the Commonwealth Games over a projected budget blowout. Officials said that hosting the 2026 edition of the sporting event could cost up to A$7 billion ($4.77 billion) - a far cry from the region's budgeted A$2.6 billion ($1.77 billion).

AAA says it won’t renew a small percentage of homeowner and auto insurance policies in hurricane-wracked Florida, joining other insurers in limiting their exposure in the Sunshine State