FIVE Financial News

11.06 / 10:43

Target FIVE Manufacturing War stage exclusive reports stake Warburg Pincus front-runner for controlling stake in Ebco

₹3,500 crore.Geoffrey Nagpal and family, who own the company, may retain a minority stake and run the business for a short while after the sale, the people said on the condition of anonymity.“Warburg is the front runner. Multiples Alternate Asset Management has also reached the advanced stage and has bid alongside its limited partners (LPs) to acquire the controlling stake," one of the two people cited above said.Both Warburg Pincus and Multiples are planning to invest from their new funds closed recently.While Warburg is investing from its Warburg Pincus Global Growth 14 fund which has a $17.3 billion war chest, Multiples is investing from its $640 million fourth fund.

11.06 / 08:11

COST FIVE cover reports Updates DA hike for bank employees: Dearness allowance from May to July 2024 announced; latest update on 5-day bank work week

Dearness allowance for the bank employees will be 15.97% for May, June and July 2024. In a circular dated June 10, 2024, the Indian Bank's Association (IBA) said, «In terms of clause 13 of the 12th Bipartite Settlement dated 08.03.2024 and clause 2 (i) of the Joint Note dated 08.03.2024, the rate of Dearness Allowance payable to Workmen and Officer employees for the months of May, June & July 2024 shall be 15.97% ‘of ‘pay’ (0.01 % change in DA on ‘pay’ for change in every second decimal place of CPI 2016 over 123.03 points).»

11.06 / 07:59

markets COST FIVE security Sustainability Research Experts IRFC, RVNL, BoB to IRCTC: Is it wise to buy PSU stocks as Nirmala Sitharaman retained FM in Modi 3.0 cabinet?

Modi cabinet 2024: After the formation of the Modi 3.0 government in New Delhi and Nirmala Sitharaman being retained as Finance Minister, the market is expecting continuity of the business and economic policies for the next five years. From the Indian stock market, investors must have their fingers crossed that PSU stocks will deliver the same kind of returns in the next five years.

11.06 / 07:21

markets UPS Citi FIVE SUN International How Aditya Birla Sun Life MF, one of India's first global Gift City funds, works

Aditya Birla Sun Life Mutual Fund launched one of India’s first global funds from Gift City (registered with the International Financial Services Authority or IFSC) last year. It had its first close in September 2023, raising $33 million, mostly from resident Indians and institutions.

11.06 / 01:23

Provident FIVE Gap Research consequences reports Auto-IRAs get another push in Rhode Island

A new bill introduced by Rhode Island legislators aims to establish a state-sponsored auto-IRA program, addressing the retirement savings gap among private sector workers in the state.

10.06 / 20:29

Provident Target FIVE Platform Research reports Relationships More DIY investors want an advisor in their corner

Self-directed investors, who traditionally manage their investments independently, are increasingly recognizing the value of human advice, according to new research from Cerulli.

10.06 / 19:59

UPS FIVE pandemic Equality Home equity is near a record high. Tapping it may be tricky due to high interest rate

Home equity is near all-time highs. But tapping it may be tough due to high interest rates, according to financial advisors.

10.06 / 19:33

Target FIVE BLOCK economy Sustainability country inclusion Broader & lasting growth, jobs top FM Nirmala Sitharaman's to-do list

Nirmala Sitharaman, in her second term as finance minister, hit the ground running on Monday. Instead of one, she released two tax devolution instalments — totalling ₹1,39,751 crore — to 28 states, for bolstering their development and capital spending. The minister earlier reviewed the economic and fiscal situation of states with finance secretary TV Somanathan and economic affairs secretary Ajay Seth, soon after the first meeting of the newly formed Cabinet on Monday evening.

10.06 / 19:33

markets UPS FIVE Aware country reports BPCL plans to set up new refinery for Rs 50k cr

Bharat Petroleum Corporation (BPCL) plans to set up a new 12 million metric tonnes per annum (MMTPA) refinery in the country, two industry officials aware of the development told ET. The state-owned oil marketing company will invest around Rs 50,000 crore in the project for which it is currently evaluating locations in three states — Andhra Pradesh, Uttar Pradesh, and Gujarat, they said.

10.06 / 18:55

Target FIVE Progressive Election WhatsApp students track Poll results a stamp of approval on hard work of govt staff: PM Modi to PMO personnel

PMO personnel in his third term, Prime Minister Narendra Modi applauded the hard work of his team and said their contribution in the past 10 years has played a key role in turning the office into an institution of service and a «People's PMO». The election results have put a stamp of approval on the efforts of the government employees.

10.06 / 18:49

FIVE Parke Banner Universities medicines Laughter, the best medicine

benefits. It releases stress, fosters bonding and friendship, and makes all participants feel good about life, elevating them, albeit temporarily, into a world of good humour. Laughter is a universal language of well-being for all — if we are all laughing with each other and not at someone's expense.

10.06 / 17:51

markets FIVE Reuters Yellow 2020 reports testing Oil prices surge 2% to reach one-week high amid optimism for increased summer fuel demand; brent crude at $80.98/bbl

Gold prices dip on strong US dollar as China pauses buying yellow metalAccording to a report by Goldman Sachs, as quoted by Reuters, Brent is projected to increase to $86 per barrel in the third quarter. They attribute this rise to robust summer transport demand, which is anticipated to drive the oil market into a deficit of 1.3 million barrels per day (bpd) during that period."Oil price dynamics are also giving oil producers little encouragement.

10.06 / 17:29

markets UPS FIVE DOW Align Opinion Trade Opinion: The elements for a big stock market drop are aligning. Here’s why investors shouldn’t panic

When is the next stock market crash taking place?

10.06 / 15:42

COST UPS FIVE Waters testing boating Martha's Vineyard is about to run out of pot. That's led to a lawsuit and a scramble by regulators

Martha's Vineyard is about to run out of pot

10.06 / 15:39

FIVE Aware Racing Justice information Courts Investigations Police arrest 91-year-old Canadian auto parts billionaire Frank Stronach on sexual assault charges

Austrian-Canadian auto parts billionaire Frank Stronach has been arrested on sexual assault charges involving accusations from the 1980s to last year

10.06 / 15:39

Citi FIVE President stage rights International Slovakia public broadcaster employees hold 3-hour walkout over government overhaul plans

Employees of Slovakia’s public radio and television have staged a three-hour walkout to protest a contentious overhaul of their services

10.06 / 15:33

markets UPS FIVE Art economy country International Domino's aims to double store count to 4,000 in India in 5-6 years

Domino's plans to double its store count to 4,000 in India in the next 5-6 years, a top company official said. Domino's, which started operations here in 1996, has launched its 2,000th store.

10.06 / 15:33

UPS FIVE security Election wellness social Modi's 'lower political capital' to hit implementation of tough reforms, says UBS

Narendra Modi's «lower political capital» will make it difficult for the new government to implement hard reforms, a Swiss brokerage said on Monday. The potential rate of growth can go up to over 7.5 per cent, if the government is able to implement tougher reforms like those related to land, farming, divestments, Uniform Civil Code and one nation one election, UBS Securities said.

10.06 / 15:33

FIVE Aware WhatsApp Justice Courts Judges' appointment, vacancies, pendency key challenges before Law Minister Meghwal

vacancies in the higher judiciary and pending cases, and finalising the Memorandum of Procedure (MoP) are the key challenges before Arjun Ram Meghwal who was allocated the law portfolio on Monday. The MoP is a set of documents which guide the appointment, elevation and transfer of high court and Supreme Court judges.

10.06 / 14:45

FIVE Cooper Election community wellness country social Parameshwara rues lack of BC, Dalit faces from Karnataka in NDA Cabinet

Karnataka Home Minister G Parameshwara on Monday slammed the newly-minted central government, accusing the NDA 3.0 regime of “neglecting” backward classes and Dalit communities while picking MPs from the state for the union council of ministers.

10.06 / 14:45

UPS FIVE Election President voice Karnataka: Voices against guarantees get louder in Congress, putting pressure on CM Siddaramaiah

Voices within the ruling Congress calling for a reassessment of the five guarantees are getting louder after the party came a distant second in the Lok Sabha polls even after pledging Rs 52,000 crore annually on these programmes.

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