FIVE Financial News

06.09 / 01:45
FIVE country voice Parliament special session: 24 INDIA bloc parties to attend, Sonia Gandhi set to write to PM Modi
‘Prime Minister of Bharat’: Sambit Patra shares invitation of PM Modi's Indonesia visit amid India's name change rumour Notably, the issues that will be raised by the INDIA bloc in the Parliament session were also finalized in the meeting and CCP chairperson Sonia Gandhi will convey them to the government in a letter. The five-day session of Parliament was announced by Union Parliamentary Affairs Minister Pralhad Joshi last week.
05.09 / 20:35
Citi MET FIVE Waters Fighting country Time Egypt resumes commercial flights to war-torn Sudan for the first time in nearly five months
Egypt has resumed direct commercial flights to Sudan for the first time since a devastating war broke out between Sudan’s rival generals nearly five months ago
05.09 / 20:35
UPS FIVE country end China touts the benefits of its 'Belt and Road' initiative to Italy, which may end the agreement
China's foreign minister is seeking to sell his Italian counterpart on the benefits of leader Xi Jinping's signature “Belt and Road” initiative of Chinese-built and -funded infrastructure projects, as Rome considers whether to renew the agreement
05.09 / 20:35
UPS Citi Lowe's FIVE Exodus America's small towns are disbanding police forces, citing hiring woes
America is in the midst of a police officer shortage
05.09 / 20:20
Citi FIVE Booking COP Support Orora’s $1.35b raise gets insto support despite big discount
Can and bottle maker Orora’s $1.35 billion equity raising to buy France’s Saverglass had been expected since August 27, but it still managed to make fund managers uneasy when it finally kicked off on Tuesday morning.
05.09 / 20:11
COST UPS FIVE Digital Kirklands social Lawyers Lawyers land $700 million bounty from crypto collapse
cryptocurrency prices last year forced a procession of major firms into bankruptcy, trigging a government crackdown and erasing the savings of millions of inexperienced investors. But for a small group of corporate turnaround specialists, crypto's implosion has become a financial bonanza.Lawyers, accountants, consultants, cryptocurrency analysts and other professionals have racked up more than $700 million in fees since last year from the bankruptcies of five major crypto firms, including the digital currency exchange FTX, according to a New York Times analysis of court records. That sum is likely to grow significantly as the cases unfold over the coming months. Large fees are common in corporate bankruptcies, which require complex and time-intensive legal work to untangle.
05.09 / 20:11
FIVE AXY CEO cover electronic Clothing, lifestyle retailers and shopping malls expect bumper festive harvest
shopping malls have seen a sharp recovery in sales across pricepoints in the past few weeks during Raksha Bandhan and Onam, raising hopes of strong demand this festive season even though mass segments in electronics and auto stay under pressure. Retailers said the recent sales trend indicates a normal festive period ahead for apparel and discretionary segments that had been struggling for almost a year now. “The last few months have been challenging, but we are now seeing single-digit same-store sales,” said Devarajan Iyer, chief executive of department store chain Lifestyle International. “We have also managed our inventory for the festive season after gauging this demand boost.” The festive season starts with Onam and covers Ganesh Chaturthi, Durga Puja, Dussehra, Diwali and Bhai Dooj. “Onam sales have been strong and our recently opened mall, Forum Kochi, at Maradu has reported best-ever sales and footfall than any mall we have opened so far,” said Muhammad Ali, CEO of Forum Malls, promoted by Prestige Group Bengaluru-based developer Prestige Group. “In Benguluru also, sales momentum has started, and we expect to overcome the last few month’s slowdown during the long festive season,” he said.
05.09 / 20:11
UPS Citi FIVE Parke Lulu Group plans hypermarkets in smaller towns of Kerala & UP
Lulu Group plans to expand the reach of hypermarkets to smaller towns of Kerala and Uttar Pradesh besides proposed significant mall developments in Ahmedabad and Greater Noida, said a senior executive. The company is considering cities like Prayagraj, Gorakhpur, Kanpur, and Banaras for small-scale malls with a hypermarket focus. Additionally, the company is in the process of building five similar properties in Kerala. «We have successfully secured partnerships with the government for Banaras, Prayagraj, Gorakhpur, and Noida. The food park in Noida is in its final stages,» said Jayakumar Gangadharan, regional director of Lulu Lucknow.
05.09 / 19:23
FIVE Volkswagen Mobile ICE Porsche Audi country 'Volkswagen to Start Localisation of EVs in India in Phases'
Volkswagen (VW) Group will adopt a phased approach to localisation of its battery electric vehicles (BEVs) in India and will await a strong business case before committing to offering affordable, 'Made in India' EVs, chairman of board of management of Volkswagen Group, Oliver Blume, told ET. This is even as the world's second largest automaker by volume, which sells the Skoda, Volkswagen, Audi, Lamborghini and Porsche brands in India, is a lot more confident of the Indian market now owing to the fast-paced growth it has seen in the country in the recent past that has made it the third largest car market globally. Blume was speaking on the sidelines of the Volkswagen Group's annual press meet in Munich. «We have a ramp-up curve for electric mobility, which includes bringing the right products and right positioning, especially for the Indian market, where you also need to address the lower segments.
05.09 / 19:13
FIVE SEC advisers US securities regulator charges 5 investment advisers with custody rule violations
NEW YORK (Reuters) — The U.S. Securities and Exchange Commission on Tuesday said it has charged five investment adviser firms for failing to meet requirements related to the safekeeping of client assets.
05.09 / 18:53
Facebook UPS FIVE Fighting show Assembly bypolls: High voter turnout in Kerala, Tripura, W Bengal seats; moderate in UP, U'khand
Dhanpur and Boxanagar seats in Tripura, where the Congress had extended support to the CPI(M), the turnout was around 76 per cent. Six persons were injured in a stray incident of violence in the northeastern state. In Dhupguri in West Bengal and Puthuppally in Kerala, where the INDIA bloc constituents were up against each other, the turnout was around 76 per cent and nearly 73 per cent respectively. The by-election saw the INDIA alliance also putting up a united front in the Ghosi constituency in Uttar Pradesh, where the voting was moderate at around 50.30 per cent, and in Jharkhand's Dumri where a total of 64.84 per cent of 2.98 lakh voters exercised their franchise Uttarakhand's Bageshwar, where the main contest is between the BJP and the Congress, saw 55.44 per cent voting. Out of the seven seats, three (Dhanpur, Bageshwar and Dhupguri), were held by the BJP and one each by the SP (Ghosi), CPI(M) (Boxanagar), JMM (Dumri) and the Congress (Puthuppally). In Uttar Pradesh, the Ghosi seat fell vacant after the resignation of Samajwadi Party (SP) MLA and OBC leader Dara Singh Chauhan, who rejoined the BJP. While the ruling BJP-led NDA has fielded Chauhan, Samajwadi Party candidate Sudhakar Singh has got the support of the Congress and Left parties.
05.09 / 18:53
UPS FIVE Strategy letter Mallikarjun Kharge or Sonia Gandhi to seek special session agenda in letter to PM
Congress parliamentary strategy group and INDIA bloc floor leaders have decided to tread cautiously on government's reported moves on 'changing' the name of India to Bharat, holding synchronised elections and introducing politically significant bills/resolutions in the forthcoming special session of Parliament. The meetings decided to make an issue of the government's «refusal» to share the special session's agenda with the Opposition. It is learnt that either CPP chairperson Sonia Gandhi or LoP Mallikarjun Kharge would soon write to Prime Minister Narendra Modi to seek clarity on the session agenda and demand that the session accommodate social-economic issues that the Opposition wants to raise and debate.
05.09 / 18:21
UPS FIVE Digital Discover show E-fashion set for explosive growth
₹100 crore mark in sales, Bain & Co. expects it to grow further and at a fast clip. The number of such brands exceeding ₹250 crore in revenue will jump five times within five years, with categories like expressive wear, ethnic wear, and jewellery leading the sales; while athleisure or activewear will witness similar growth but with fewer brands.
05.09 / 18:11
Provident MET FIVE Strategy voice Congress reveals special session agenda: Refuses to engage in 'Modi chalisa' for 5 days
The Congress party has expressed its dissatisfaction with the government's apparent lack of transparency regarding the forthcoming special parliamentary session, scheduled to convene from September 18th to the 22nd. In a strongly worded statement, Congress leaders Jairam Ramesh and Gaurav Gogoi voiced their concerns and outlined the critical issues they intend to address during this special session. One of their primary grievances is the government's decision to keep the agenda for the session under wraps, a move that has left many in the opposition perplexed and frustrated.
05.09 / 18:11
UPS FIVE Fighting show Assembly bypolls: High voter turnout in Kerala, Tripura, West Bengal seats; moderate in UP, Uttarakhand
Tripura at the top with over 89 per cent voting. The counting of votes is on September 8 for the by-election — seen as a litmus test for the opposition alliance INDIA against the BJP-led NDA ahead of the assembly polls in five states later this year and the 2023 Lok Sabha election. The by-election saw the INDIA alliance putting up a united front in the Ghosi constituency in Uttar Pradesh, where the voting was moderate at around 50.30 per cent, and in Jharkhand's Dumri where a total of 64.84 per cent of 2.98 lakh voters exercised their franchise. Uttarakhand's Bageshwar, where the main contest is between the BJP and the Congress, saw 55.44 per cent voting. In Dhanpur and Boxanagar seats in Tripura, where the Congress had extended support to the CPI(M), there was 89.20 per cent and 83.92 per cent polling respectively. Six persons were injured in a stray incidents of violence in the northeastern state. In Dhupguri in West Bengal and Puthuppally in Kerala, where the INDIA bloc constituents were up against each other, the voting was around 76 per cent and nearly 73 per cent respectively. Out of the seven seats, three (Dhanpur, Bageshwar and Dhupguri), were held by the BJP and one each by the SP (Ghosi), CPI(M) (Boxanagar), JMM (Dumri) and the Congress (Puthuppally). In Uttar Pradesh, the Ghosi seat fell vacant after the resignation of Samajwadi Party (SP) MLA and OBC leader Dara Singh Chauhan, who rejoined the BJP. While the ruling BJP-led NDA has fielded Chauhan, Samajwadi Party candidate Sudhakar Singh has got the support of the Congress and Left parties.
05.09 / 18:11
Target FIVE copper Zambia agrees to hand disputed copper assets back to Vedanta
Zambia has agreed to return control of Konkola Copper Mines (KCM) to Vedanta Resources, mines minister Paul Kabuswe said on Tuesday, ending a row over the ownership of the assets that erupted in 2019 when authorities seized the mines. The government, which owns a 20% stake in KCM through ZCCM-IH, will allow Vedanta to resume control and operate KCM's mines and smelter after the company renewed a pledge to invest more than $1.2 billion to increase output and repay outstanding debts, Kabuswe said. A shareholders' agreement is being reworked to make the commitments from both shareholders legally binding, Kabuswe added. The legal details of the agreement and reinstatement of the KCM board, would be finalised within the next three months, the minister said. Ties between Zambia and Vedanta, owned by billionaire Anil Agarwal, soured after former President Edgar Lungu's government orchestrated the seizure of the KCM assets and forced liquidation in May 2019, accusing the Indian company of failing to meet plans to invest in increasing mining output. The forced takeover nearly paralysed operations at the KCM and triggered protracted battles, with Vedanta mounting legal battles including approaching an arbitration court in London to recover the copper assets. «It is not a secret that the asset has deteriorated a great deal and the production output has substantially reduced,» Kabuswe told journalists in Lusaka.
05.09 / 14:49
MET FIVE Career Action Remark voice open US Open 2023: Fan ejected after shouting ‘most famous Hitler phrase’ during Zverev vs Sinner thriller
Arthur Ashe Stadium, Alexander Zverev, the No. 12 seed from Germany, found himself at the center of a startling incident that led to the ejection of a fan from the US Open.
05.09 / 14:49
UPS FIVE Citizens Mobile country MP polls: Amit Shah urges people to bless BJP for winning over 150 seats
BJP so that it wins more than 150 seats in the upcoming assembly elections in Madhya Pradesh and form a «double-engine» government for ensuring the state's development. Elections to the 230-member MP assembly are due by November. After flagging off the BJP's 'Jan Ashirwad Yatra', a mass outreach programme, in Mandla district earlier, Shah was to reach Sheopur to launch another yatra.
05.09 / 12:49
FIVE show country Will BJP rename Bharat if INDIA bloc rechristens itself 'BHARAT': Arvind Kejriwal
Arvind Kejriwal on Tuesday asked a "flustered" BJP whether it would change the name of Bharat if the opposition alliance INDIA rechristens itself ‘Bharat’, amid controversy over G20 dinner invites purportedly sent on behalf of the ‘President of Bharat’. The Congress on Tuesday alleged that an invite sent by the Narendra Modi government for a G20 dinner refers to the President as "President of Bharat" and not India. I have no official information on this.
05.09 / 12:49
UPS FIVE NIFTY performer country Indian Returns At 10.9%, Indian stock market delivered higher returns than US, China, others in last 10 years: Report
Indian stock market has outperformed major markets in the world on a three-year, five-year and 10-year basis. The Nifty large cap index has delivered a 10.9 per cent annualized return over the past 10 years, compared to 6 per cent of the US index and 2.7 per cent of China's market, according to a report by ASK Investment Managers. In the last five years, Indian markets delivered 18.8 per cent annualized return, compared to 6.9 per cent of US, 12.1 per cent of Japan index, and 7.6 per cent of US index.

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