COST Financial News

09.07 / 20:05

COST UPS Provident Target CEO Action NSW government’s tax respite creates more challenges for Star

A respite from the NSW government’s planned casino tax increase should have been a welcome relief for Star, but investors can be forgiven for still feeling uneasy.

09.07 / 18:53

COST UPS Digital TCS IT firms to cut payouts as outlook weakens

MUMBAI : The information technology (IT) industry is likely to offer muted variable payouts of 60-70% of the promised amount for the June quarter, with top performers getting as much as 80%, as IT companies focus on saving costs amid a weakening revenue outlook and reduced employee turnover. “Considering the current sentiment, there is a possibility that employers take a prudent approach, and payouts will be made only to those teams whose businesses have performed well," said R. Ramesh, director of digital business solutions, professional staffing and international engagement at staffing firm Adecco Staffing.

09.07 / 18:53

COST UPS Enterprise ‘Business confidence improved in June qtr’

New Delhi: Business confidence has improved sequentially in April-June, reaffirming the positive trends in economic activity like goods and services tax (GST) collections, as well as air and rail passenger traffic, according to the Confederation of Indian Industry. CII’s business outlook survey indicates an increasing number of businesses are optimistic about prospects of fresh private investments.

09.07 / 18:53

COST Provident Compilation Strategy NIFTY Indian Indian firms’ Q1 earnings growth likely at 7-qtr high

NEW DELHI : Indian companies are expected to deliver their strongest earnings growth in seven quarters, as declining input costs bolster profitability. While banks and automobile sectors are seen to be leading drivers of overall profits in the June quarter, several more sectors are expected to contribute to the earnings momentum. “Softer commodity and fuel prices could lead to an expansion of margins for fast-moving consumer goods (FMCG), auto, and allied sectors," said Deepak Jasani, head of retail research at HDFC Securities Ltd.

09.07 / 18:53

COST UPS Provident Aviat Airlines Airlines seek tech to curb emissions: Sita

New Delhi: Indian airlines are in discussions with aviation technology service provider Sita to adopt solutions for reducing carbon emissions and increasing fuel efficiency, said Sumesh Patel, president of Asia Pacific, Sita, in an interview. “We are in discussions with Indian airlines to look at various solutions, which can help them in operational efficiency and reduce carbon footprint.

09.07 / 18:47

COST Target Progressive rate hikes end ECB rate hikes to end soon at 'high plateau': Villeroy

European Central Bank is nearly finished raising interest rates, but will then keep them at a «high plateau» to ensure they fully impact the economy, Governing Council member Francois Villeroy de Galhau said. The ECB's record cycle of tightening will bring inflation toward its target of 2% by 2025, the Bank of France governor said. Price growth in France has already passed its peak, slowing to 5.3% from above 7% earlier this year, he added.

09.07 / 18:35

COST UPS FIVE Mobile Hyundai Maruti expects hybrid and CNG sales to match diesel's glory days

Maruti Suzuki is betting big on strong hybrid and compressed natural gas vehicles and expects cumulative sales of these models in the ongoing financial year to inch closer to peak volumes the company had reported in the diesel vehicle segment five years ago. Maruti Suzuki, which stopped production and sale of diesel vehicles ahead of the transition to BSVI emission norms in April 2020, had reported best-ever sales of diesel vehicles of about 480,000 units in FY18.

09.07 / 18:35

COST Mobile Vodafone boost Higher data usage & 4G additions to boost Airtel, Jio revenues in Q1

Bharti Airtel and Reliance Jio are set to report sequential mobile revenue growth in the fiscal first quarter, helped by higher data usage levels and strong 4G user additions, while Vodafone Idea (Vi) will likely report contraction, stung by the continuing trend of heavy customer losses. Analysts, though, expect Airtel to report stronger average revenue per user (ARPU) growth than Jio in the April-June quarter, on the back of decent postpaid user additions and a pick-up in 2G to 4G conversions.

09.07 / 17:05

COST UPS Citi FIVE Platform Strategy ICE Can M&M retain its SUV edge in the EV era?

NEW DELHI : Aadya Ahuja, a 27-year-old counselling psychologist based in Delhi, loves the thunderous rumble of diesel engines. She inherits her fascination for tall, butch Mahindra SUVs from her father. In fact, she learnt to drive on her father’s diesel-powered Scorpio, a rather unusual choice for a young person in a city getting behind the wheel for the first time.

09.07 / 16:19

COST UPS Citi Lowe's FIVE June retail inflation likely inched up to 4.6%: Mint poll

NEW DELHI : India’s retail inflation is likely to have inched up to 4.6% in June from a 25-month low of 4.25% in the previous month on account of higher food inflation driven by vegetable, pulses and cereal prices, showed a Mint poll of 19 economists. The poll predicts consumer price inflation (CPI) in a range of 4.1-4.8%, with all but two economists expecting inflation to rise. Official data is scheduled to be released on 12 July.

09.07 / 16:19

COST Citi Provident FIVE Career How much does schooling cost in India and what is its inflation rate?

Mint spoke with some parents to find out the factors that decided the right school for their children. The boards For Sandhya Jandhyala, 40, of Hyderabad, the choice was CBSE, or Central Board of Secondary Education. Both her daughters are students of Bharatiya Vidya Bhavan’s Public School, just 5km from their house.

09.07 / 15:25

COST UPS Provident CEO Bengaluru developers say realty demand to remain unfazed by circle rate hike

The guidance value of all immovable properties across the state was revised during 2018-19 and came into effect in January 2019. The last update to circle rates was made in 2018-19, where it was raised by 25% before the erstwhile BJP government granted a 10% rebate on stamp duty was also provided to the sector. However, due to the outbreak of the COVID-19 pandemic, the guidance value of immovable properties has not been revised to date.

09.07 / 15:03

COST Target Booking Southern Borrowing Shriram Housing Finance raises $50 million in its maiden external commercial borrowing

Shriram Housing Finance has raised $50 million in its maiden external commercial borrowing (ECB) as the lender is looking to diversify its funding source. Funds from the ECB will be used for the financing of affordable housing. The mortgage lender, which is part of the Shriram Group, has raised the fund from Canara Bank's London branch at 200 basis points over Secured Overnight Financing Rate (SOFR), a company official said.

09.07 / 14:45

COST UPS Target RBC Pilbara Minerals weighs tilt at Patriot Battery Metals, RBC hired

Pilbara Minerals is understood to have hired RBC Capital Markets’ resources bankers to weigh a tilt at dual-listed explorer Patriot Battery Metals, whose Corvette lithium project in Quebec is due to put out an initial mineral resource in July.

09.07 / 14:45

COST UPS Provident Waters Southern Macquarie Macquarie pumps another $1b into its UK water company

London | Macquarie Group will pump an extra £550 million ($1 billion) into its British water utility Southern Water, as the country’s debt-heavy utilities sector struggles with rising costs and increasing political pressure to overhaul its infrastructure.

09.07 / 14:45

COST UPS FIVE NASDAQ Manufacturing Why the price of your favourite chocolate might jump soon

Chocoholics may be in for a shock at the checkout after the price of cocoa soared to a 12-year high and heavy rain across West Africa accelerated the spread of a rot-causing disease.

09.07 / 14:45

COST Lowe's Reuters Manufacturing Carbon tax loophole could flood Europe with emissions heavy metal

Brussels/London | European aluminium producers are warning that a loophole in the EU’s carbon border tax will lead heavily polluting exporters such as China to circumvent the rules and flood the bloc with low cost, emissions heavy metal.

09.07 / 13:45

COST UPS Target MET Align Corporate social responsibility projects demand expertise too

₹5 crore, the company will be too small to have the wherewithal for CSR programmes. In fact, the rule also says that there has to be a board-level committee to administer the chosen CSR activity and regular reporting of it. This can get onerous and it is not surprising that companies look for easy ways out.

09.07 / 12:19

COST FIVE Strategy Mobile Enterprise stake Adani raises $1.4 bn from stake sale in 3 cos; $9 bn raised in 4 yrs

Adani has raised USD 1.38 billion (Rs 11,330 crore) through stake sale in three group companies, taking the total capital raised over four years to USD 9 billion as the conglomerate draws interest from a cross-section of investors. In a statement, the ports-to-energy conglomerate said it «is committed to raising capital to fulfill its 10-year roadmap of the transformative capital management program, which was formulated in 2016 to execute the plans for various portfolio companies.» «In the most recent instance, Adani family has raised USD 1.38 billion (Rs 11,330 crore) through stake sale in the three portfolio companies — Adani Enterprises Ltd, Adani Green Energy Ltd and Adani Transmission Ltd,» it said.

09.07 / 12:13

COST Citi Provident Lowe's Target Southern French central bank head warns against raising ECB inflation target

AIX-EN-PROVENCE, France (Reuters) — France's central bank head Francois Villeroy de Galhau pushed back on Sunday against a suggestion from some French economists to raise the European Central Bank's (ECB) 2% inflation target.

09.07 / 11:51

COST Provident Enterprise Interface Here’s how India can turbocharge e-commerce exports

₹1 crore in exports. Toys, ayurveda, home and kitchen products, and furniture are among the best-selling categories. The company says it expects to see many niche micro, small and medium enterprises (MSMEs) grow into global brands. There’s a big market to be tapped for Make-In-India offerings: the handloom fabrics, handcrafted shoes, artisan jewellery and toys. India must actively facilitate this development.

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