COST Financial News

Here is your Pro Recap of four head-turning deal dispatches you may have missed this week: Cronos attracts interest; Brookfield buys American Equity Investment Life, Thermo Fisher merges with CorEvitas, and Monster Beverage buys Bang Energy.

The next Bitcoin (BTC) halving, the most anticipated quadrennial event in the cryptocurrency space that has the potential to drive the maiden digital currency price to new heights, could pose more troubles to Bitcoin miners than the previous ones.

MedGenome on Monday announced that it will now offer advanced genomics services using Illumina’s NovaSeq X Plus in South Asia. With this, the company anticipates bringing down the reagent cost of Human Whole Genome sequencing to USD $200 in the near future, it stated.

In an effort to rejuvenate the affordable housing sector, the Haryana government has approved a significant increase in the allotment rate of affordable housing units. The rates in Gurugram, Faridabad, Panchkula, Pinjore-Kalka have been raised from Rs 4,200 per sq ft to Rs 5,000 per sq ft, marking an average increase of 20%. This move has been well received by developers who believe that it will contribute to the growth of the affordable housing sector by stimulating fresh supply and attracting more investment.

The 175-member International Maritime Organization (IMO) notified its strategy on July 7 to decarbonise the global shipping sector and achieve net-zero emissions by 2050, the Global Trade Research Institute (GTRI) said. It added that IMO has also set interim targets for reducing emissions by 20-30 per cent by 2030 and 70-80 per cent by 2040, compared to 2008. It added that IMO has also suggested the shipping industry should switch to cleaner fuel. «By 2030 cleaner fuel must account for a minimum 5 per cent of total fuel use. IMO will notify detailed measures next year. While IMO recommendations are not legally binding, countries are expected to achieve the targets set. This year, few countries pushed for a flat tax of USD 100 per tonne of carbon emission by ships, yet IMO ignored the recommendation and set broad targets due to opposition from China and many developing countries,» GTRI co-founder Ajay Srivastava said.

Navantia for submission of a techno-commercial bid for the Indian Navy’s prestigious P75 (India) submarine programme. P75 (India) Submarine Project is expected to be valued at €4.8 billion (over Rs 43,500 crore) and is India‘s largest defence acquisition project.Project 75 (I) requires the Indian bidder to tie up with a Foreign Collaborator (FC) and execute the program for delivery of six conventional submarines equipped with Air-Independent Propulsion (AIP), while achieving targeted Indigenous Content.

Tata Consultancy Services (TCS), the largest software services exporter in India, will announce its earnings for the first quarter of FY24 on July 12. The company will also declare an interim dividend along with the results.

₹14,600 crore  in Q1FY24, up 9% year-on-year (YoY), with the Bengaluru-focused companies anticipated to outperform others.  Overall, the realty firms under the brokerage’s coverage are expected to see net profit growth of 26.8% YoY. However, sequentially, this is expected to see a drop of nearly 40%. The total sales of these companies during the quarter under review is expected to increase by 10.3% on-year.

VADER has gained by 40% in the past 24 hours, with the new meme token posting a massive 25,000% gain since it listed as a pair with Wrapped Ethereum (WETH) on Uniswap.

Reliance Retail-backed quick commerce startup Dunzo may finalise its plans to terminate more jobs. It has had to already defer half of the June salary for employees at the manager level and above due to a ‘cash flow issue’, according to sources aware of the matter. Kabeer Biswas, founder and CEO of Dunzo, which closed a $75 million financing round through convertible notes in April, told his staff in a recent town hall that the June salary would be delayed due to a cash flow issue related to lenders, according to the people cited above.

Western Australian copper junior Cyprium Metals was asking investors for a $35 million cash injection on Monday morning, offering to part with shares at a whopping 63.6 per cent discount to the last close.

Manipur has created an environment of desperation and vulnerability among the residents of the northeastern state. While the Kukis, in response to the Centre's call, have lifted a blockade along National Highway 2, which serves as the «lifeline» for those living in the Imphal valley, the Meiteis have steadfastly maintained their blockade, preventing any supply from reaching Churachandpur, the largest district in the state with a significant Kuki population. Churachandpur is home to around four lakh people.

Casino giant Crown Resorts has warned the Federal Court it cannot afford a hefty $450 million fine for breaching anti-money laundering and counter-terrorism laws unless it can be paid in instalments over a two-year period without incurring interest.

tomato prices, a vegetable vendor in Varanasi, Uttar Pradesh, has taken an unconventional approach to safeguard his stall. Ajay Fauji, who is not only a vegetable vendor but also an active member of the Samajwadi Party, has enlisted the services of bouncers to prevent potential violence and tomato thefts at his shop. Concerned about the exorbitant tomato prices, Fauji revealed that people had resorted to acts of aggression and even outright theft of tomatoes.

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home loan can be a significant step towards owning your dream home. There are a number of financial institutions in India, both banks and non-banking financial institutions that offer significant loan amounts to help you accomplish the most significant milestone in your life. However, the home loan approval process involves various factors, including your eligibility.

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Flipkart. Here’s a look at the price, feature and other details of the new Reno 10 series Oppo Reno 10 Pro comes with a starting price of ₹39,999 for its base model that packs 6GB RAM and 128GB storage. Oppo Reno 10 Pro+, on the other hand, costs ₹54,999.