COST Financial News

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

Driscoll's of the Americas President Soren Bjorn discusses how food inflation is impacting business and the American consumer on 'The Claman Countdown.' 

Mutual funds investment: Amid Indian stock market climbing to a new peak in recent sessions, most of the benchmark indices including small-cap index has surged to record high levels, delivering stellar return to the equity investors. However, for surprise to some fresh mutual fund investors, some asset management companies (AMCs) declined to receive fresh lump-sum investment in small-cap schemes when Indian stock market was scaling new highs on a regular basis. According to tax and investment experts, mutual fund AMCs declining to accept fresh lump-sum investment in small-cap mutual fund schemes is not a new phenomenon.

Wholesale tomato prices eased in the national capital after the government stepped in to ensure the arrival of fresh supplies from Karnataka, but other vegetables have become dearer following disruptions, signalling continued pressure on household food costs. In Delhi's key Azadpur mandi, the wholesale price of tomatoes was hovering at ₹80-100 per kg, traders said Friday, compared with ₹160 per kg at the peak last week. The Centre on Wednesday directed the National Agricultural Cooperative Marketing Federation (Nafed) and the National Cooperative Consumers Federation (NCCF) to get tomatoes from Andhra Pradesh, Karnataka and Maharashtra for distribution in major consumption centres where retail prices have spiked. The arrival of tomatoes from Bengaluru has increased in Delhi.

By Jonathan Stempel

Brooklyn Public Library's Central Library is currently hosting a temporary exhibition dedicated to the iconic rapper and entrepreneur Jay-Z. Named «The Book of Hov,» the exhibition showcases a vast collection of archival materials, including original recording masters, previously unseen photographs, stage outfits, prestigious awards, videos and various artifacts representing different aspects of Jay-Z's professional life. Opening on July 14, the exhibition is expected to remain open through the fall, although the closing date has not yet been announced.

Airfare to Europe hit an all-time high this summer. But those dissuaded by the sticker shock can still travel overseas in coming months and cut costs by perhaps hundreds of dollars a ticket.

₹180 per kg, even touching ₹280 a kg for some varieties, up from ₹20–30 a kg on 24 June. In many other cities and states, including Tamil Nadu and Kerala, tomatoes now cost over ₹180 a kg. Due to floods and damage to crops in the plains of Himachal Pradesh, Haryana and Punjab, the regular supply of tomatoes to Delhi may remain disrupted for some time.

₹355, lower than ₹358 in previous quarter and ₹365 a year ago, as per Motilal Oswal Financial Services data. According to analysts, companies are chasing volumes amid strong demand, and the quest for market share is putting pressure on prices. Analysts expect no significant improvement in per-tonne profitability of cement manufacturers, even though lower energy costs cushion operating profits.

When Kinneret Shick Ohana, a 36-year-old mother of five in South Florida, recently ran out of pasta and hot dogs, she didn’t go shopping at a grocery store or even order the food to be delivered. She placed an online order, then drove to her local Walmart a few hours later to collect it at the curb. It’s a routine Shick Ohana, who works from home as a social-media influencer, has gotten used to, even as the market for online order delivery has boomed since the pandemic.

El Niño, the warm current in the Pacific Ocean that is exacerbating bad weather in the Global South. Check out this Plain Facts piece and its 6 charts to understand why the world could be staring at a food shortage. On the other side of the coin, Sayantan Bera explained why India should consider limiting the advertising of junk food, based on the World Health Organisation's recommendations.

New Delhi: India’s wholesale price index plunged deeper into deflationary territory in June, even as retail prices, especially food and vegetables, surged, official data showed. The wholesale price index experienced a 4.12% decline in June, driven by lower prices of fuel, textiles, and some food products, according to data released by the commerce and industry ministry on Friday. This decline follows a 3.48% fall in May, marking the third consecutive month of wholesale deflation.

Dimensional Fund Advisors’ steady migration into the ETF space could be moving to a new level as the $614 billion asset manager seeks regulatory approval to launch ETF share classes for its U.S. mutual funds, which represent $400 billion.

In this article

By Dietrich Knauth

Falling crude oil prices and lingering worries about the global economy have been sapping power from energy stocks throughout 2023

Bandhan Bank on Friday reported a 19% year-on-year fall in net profit to Rs 721 crore for the quarter ended June on account of sharp rise in operational expenses even as credit cost came down over the period. Bandhan's profit numbers were poorer than what analysts expected earlier. This was despite lower provisions during the quarter at Rs 602 crore against Rs 642 crore in the year-ago period, which helped credit cost to fall 30 basis points to 2.4%.

The New York Stock Exchange plans to delist Azure Power Global Ltd., an Indian renewable-power firm controlled by Canadian pension funds that’s embroiled in a corruption investigation.

State Bank of India (SBI), country's largest lender, has raised its marginal cost of funds based lending rate (MCLR) by 5 basis points (bps) across all tenures, a move that will lead to an increase in EMIs for borrowers. With the increase, EMIs will go up for those borrowers who have availed loans on MCLR, not for those, whose loans are linked to other benchmarks.

JPMorgan Chase and Wells Fargo said on Friday they set aside more money for expected losses from commercial real estate loans, in the latest sign that stress is building up in the sector. Lenders' exposure to commercial real estate has come under growing scrutiny this year, as the sector globally — particularly office buildings — has been pressured by high interest rates and workers continuing to stay at home. Wells Fargo reported higher losses in CRE due to its office loan portfolio.

NASA's database on Moon missions.India on Friday launched its third mission to the Moon, Chandrayaan-3, with an aim to soft-land on the surface of Earth's only natural satellite. A successful landing would make India the fourth country to achieve the rare feat after the United States, China and the erstwhile USSR. According to the Indian Space Research Organisation (ISRO), the technically challenging soft landing on the lunar surface, which Chandrayaan-2 could not achieve, has been planned for 5.47 pm on August 23. Former ISRO chairman G Madhavan Nair said the success rate of lunar missions is nearly 50 per cent because of the uncertainties when the rockets leave Earth's gravitational field. «The influence of other planets, from the Sun, is quite a bit. A lot of radiation conditions exist in space and this leaves some equipment or components prone to failure. In India's both missions (Chandrayaan 1 and 2), we have precisely reached the moon's orbit,» Nair told PTI.