Deal Financial News

The alliance of G33, African Group and the ACP (African, Caribbean and Pacific) group at the World Trade Organisation (WTO) has proposed a new method to calculate subsidies given to purchase, stockpile and distribute food to ensure food security for developing and poor nations. It has also proposed that exports of foodgrains from public stocks to needy countries be allowed for international food aid and humanitarian purposes. The alliance is keen to get more support for its proposals, officials said. «The cosponsors of the proposal are reaching out to 6-7 LDCs and the Arab Group who have given support from the floor,» an official said. The coalition has suggested that a permanent solution for public stockholding should account for inflation and be based on a recent reference price. At present, the external reference price (ERP) used for calculating subsidies is based on 1986-88 prices. «Production of staples has been hit in many countries and they are now concerned about their food security.

ITPCL), allowing them to distribute the ₹3,134 crore cash in the company as early as next week after the board of the debt-laden financial and infrastructure conglomerate gave its approval, people familiar with the process said. The master restructuring agreement (MRA) was approved by a majority of lenders last week. This envisages a loan repayment schedule up to March 2038 and redemption of non-convertible debentures (NCDs) by March 2040. «Seven out of 12 lenders have approved the plan which means that it meets the minimum votes required by Reserve Bank of India (RBI) norms according to the June 7 circular.

FOX News' senior congressional correspondent Chad Pergram discusses GOP lawmakers blocking an attempt at a House spending bill amid a looming government shutdown and the threat to Kevin McCarthy's speakership.

Unifor members have accepted a tentative deal reached with Ford Motor Co. this week that includes what the union has described as the “single largest negotiated general wage increase in Unifor and CAW history.”Ratification meetings are being held this weekend with voting closing at 10 a.m.

British competition regulators has signaled that Microsoft’s restructured $69 billion deal to buy video game maker Activision Blizzard is likely to receive antitrust approval

Microsoft came one step closer Friday to completing its $69 billion purchase of the video game-maker Activision Blizzard, in a deal that has become an example of how a company can successfully ride out stricter regulatory scrutiny of the power of tech giants. Britain's Competition and Markets Authority, the last remaining agency that must sign off before Microsoft can complete the acquisition, said the companies took action that «substantially addresses» remaining antitrust concerns. The regulator initially tried to block the deal, saying it would undercut competition, but reversed course after Microsoft agreed not to purchase a part of Activision's business associated with so-called cloud gaming, a small but promising new area for the industry.

Morgan Stanley has offloaded stake in Gurugram-based hotel operator SAMHI Hotels, which debuted on the exchanges on Friday. SAMHI Hotels listed at a mild premium of 8% on the NSE over its issue price. However, the stock rallied and closed at Rs 146 per share on the NSE, which is 16% higher than the IPO price of Rs 126. According to bulk deals data available with the exchanges, Morgan Stanley, through its various funds, sold a combined shares of 64.6 lakh. It is unclear how much stake in the company these shares amounted to as the shareholding pattern was not yet available with the exchanges. Post the listing, analysts recommended investors to book profits, mainly because of poor financials in the last three financial years. For the year ending March, the company's revenue from operations more than doubled to Rs 738 crore.

Adani Green Energy Ltd. The new JV company will house a 1,050-megawatt portfolio consisting of solar and wind projects, according to the report. "Exciting news! Mint is now on WhatsApp Channels

Cryptocurrency mining hardware maker Bitmain and bankrupt crypto mining firm Core Scientific have agreed on a combination of equity and cash to finalize the deal on expanding mining facilities.  

Investing.com — The Bank of Japan maintained its extremely accommodative monetary policy stance, hitting the yen, while U.S. stocks are set for hefty weekly drops in the wake of the Federal Reserve’s hawkish tilt. Microsoft (NASDAQ:MSFT) could soon receive U.K. approval for its Activision purchase, while an expansion of the UAW draws nearer.

-Britain's antitrust regulator on Friday said Microsoft (NASDAQ:MSFT)'s restructured acquisition of Activision Blizzard (NASDAQ:ATVI) «opens the door» to the deal being cleared.

UN Security Council resolutions that ban any weapons trade with North Korea. Russia, a permanent member of the UN Security Council, voted for those UN resolutions.

Deven Choksey, MD, DRChoksey FinServ Pvt. Ltd., says “one should not be getting euphoric in EMS space. The same thing applies to defence and railways stocks. We will have to keep a level head on this particular aspect. There is going to be growth. There is going to be opportunity. But at the same time, one should keep an eye on whether they will generate enough margin. Keep an eye on whether they generate growth beyond 20%.”In the case of PSU stocks, when you see price action, which is close to its free float, and then the government holding is tight, one would expect a lot of volatility.I probably do not want to disagree but I would like to say that the market has created a situation where in an election year, the government is not likely to divest public sector companies shares and as a result of which, the free float in the market is going to remain comparatively tight. As a result of which and because of the new funds which are coming into the market, people would like to buy something which they missed out till now. As a result, they would create a situation of buying into them.

Labour unions and Chevron have agreed to a compromise deal put forward by an industrial umpire, spelling the end to more than two weeks of work stoppages that threatened to disrupt LNG exports from Western Australia.

Mukesh Ambani's broadcasting unit Viacom18 is set to sign a lease deal with Blackstone-owned Nucleus Office Parks for its new headquarters in Mumbai, spread over 400,000 square feet, six sources familiar with the matter said. Viacom, which runs TV channels and digital streaming platform JioCinema, competes with the likes of Walt Disney in India. Its new headquarters will be spread across roughly eight floors spread across the «One International Center» complex in Mumbai's business district of Lower Parel. «It is a marquee deal in terms of area.

WWE’s popular television show, “Friday Night Smackdown,” will be moving from Fox to USA Network next year under a new five-year domestic media rights partnership with NBCUniversal

By Yuvraj Malik and Aditya Soni

By Milana Vinn and Anirban Sen

Cisco Systems Inc. has announced that it will buy cybersecurity firm Splunk in a $28 billion deal. The purchase is going to be Cisco's biggest acquisition yet.

BRUSSELS (Reuters) — EU antitrust regulators will decide by Oct. 23 whether to clear Turkish domestic appliances maker Arcelik's proposed purchase of Whirlpool (NYSE:WHR)'s European domestic appliances business, an European Commission filing showed on Thursday.

India and Nepal approved plans to enhance their cross-border transmission infrastructure to boost electricity trade during 14th meeting of Joint Technical Team (JTT), reported India Narrative. During the JTT meeting under Energy Secretary Level Joint Steering Committee (JSC) held in New Delhi on September 20, the two nations reached an understanding to expand capacity of the 400kV Dhalkebar-Muzaffarpur Cross Border Transmission Line and speed up the completion of smaller capacity cross-border power lines that are currently under construction. Joint secretary at Ministry of Energy, Water Resources and Irrigation Sandeep Kumra Dev said, "The understanding will go into implementation, once the next JSC meeting endorses the understanding," reported India Narrative.