FIVE Financial News
28.07 / 19:37
UPS
FIVE
POT
Highways
Flushing
Manipur violence spiked in three phases
home ministry sources. An analysis of 85-day data reveals that the first spike was seen from May 3-6 in which 59 people were killed, the second was from May 25-31 in which 28 people died and the third was from June 12-29. The ethnic violence has killed nearly 150 people, injured over 500 and displaced more than 50,000. The sources claimed that prices of essential commodities didn’t overshoot because the Centre ensured goods supply and security of highways. The blockades in the past were much severe, the sources said, adding: “In 2011, when the blockade lasted for 123 days, petrol prices had skyrocketed to Rs 200 and LPG cylinders to up to Rs 2,000 in the black market”. After the July 19 viral video, Manipur Police arrested five suspects. The home ministry has ordered a CBI probe into the incident and requested the Supreme Court to transfer the trial of the case outside Manipur.
28.07 / 18:23
UPS
FIVE
CEO
performer
HCLTech CEO C Vijayakumar’s salary dips 80% in FY23
HCLTech chief executive C Vijayakumar earned Rs 28.4 crore ($3.46 million) in fiscal 2023, just over a fifth compared with Rs 130 crore the previous year. The sharp fall in his remuneration was due to the absence of the long-term incentive component, which will be paid next fiscal year, the company said in its annual report. “The long-term incentive (LTI) is paid at fixed intervals (at the end of two years) based on the achievement of milestones / parameters decided by the board.
28.07 / 18:23
FIVE
show
performer
concert
song
singer
Travis Scott's new album 'Utopia' released but why was Pyramids of Giza concert canceled?
Travis Scott’s new album Utopia has been released. He originally planned to hold a concert at the Pyramids of Giza and perform the new songs from the album. But the show was canceled for some technical glitz. It will be produced soon, but no new date is known yet.
28.07 / 18:23
Citi
FIVE
Man
Parke
Opera
Inside
folk
Universal Halloween Horror Nights 2023: Chucky, The Exorcist, and Universal Monsters haunt Orlando and Hollywood Parks
Universal Orlando Resort and Universal Studios Hollywood. From demonic possessions to sinister spirits, and iconic cinematic monsters, the new attractions are set to deliver heart-stopping frights that will linger long after the Halloween season.
28.07 / 18:21
Provident
FIVE
Manufacturing
Software
Pool
Micron
AMD
AMD commits $400 mn to expand India R&D
Advanced Micro Devices (AMD), which designs but doesn’t manufacture its own chips, will invest about $400 million in India over the next five years to expand research, development and engineering operations in the South Asian nation, Mark Papermaster, executive vice president and chief technology officer said on Friday. “I am pleased to announce that AMD will invest approximately $400 million in India over the next five years," he said. Making the announcement at the Semicon India 2023 conference, the top executive said that AMD will build a new campus in Bengaluru which will be AMD’s largest R&D facility in the world.
28.07 / 17:31
28.07 / 17:31
FIVE
Art
Booking
Kellogg
show
performer
Five Ways to Get the Most Out of a Performance Review
Leigh Thompson is the J. Jay Gerber Professor of Dispute Resolution and Organizations and a director of executive-education programs at Northwestern University’s Kellogg School of Management. She is the author of several books, including “Negotiating the Sweet Spot: The Art of Leaving Nothing on the Table." Do you look forward to performance reviews? If you’re like many employees, probably not.
28.07 / 17:23
FIVE
Enterprise
Fine
audit
Coffee Day Global case: NFRA slaps Rs 2.15 cr fine, imposes ban on 2 auditors, 1 audit firm
National Financial Reporting Authority (NFRA) on Friday slapped penalties of Rs 2.15 crore on three entities, including two auditors, besides barring them for varying periods for lapses in the audit of Coffee Day Global Ltd for 2019-20. The case pertains to the diversion of funds worth Rs 3,535 crore from seven subsidiary companies of CDEL to Mysore Amalgamated Coffee Estate Ltd (MACEL).Coffee Day Global Ltd (CDGL) and MACEL are subsidiaries of the listed entity Coffee Day Enterprises Ltd (CDEL).
28.07 / 17:23
UPS
MET
FIVE
Manufacturing
country
Changes in labour, physical capital and productivity norms can help India hit 8% growth
To assess India's growth potential, we undertook a growth-accounting exercise. Created by Nobel-winning economist Robert Solow in 1957, it breaks down GDP growth into contributions from its basic drivers — labour (workforce adjusted for their skills), physical capital (machines and infrastructure) and productivity. A business-as-usual approach, in which these drivers evolve in line with recent trends, may not make for an exciting future.
28.07 / 16:33
FIVE
performer
network
Satin Creditcare Network Q1 Results: Standalone net rises 43% to Rs 86 crore
Satin Creditcare Network on Friday reported a 43% rise in standalone net profit for the quarter ending June. Net profit was Rs 86 crore, as compared with Rs 60 crore in the year ago period. Satin said it's the company's highest ever first quarter profit in the past five years.
28.07 / 16:21
28.07 / 16:09
UPS
Provident
FIVE
Reuters
Action
country
analysts
Saudi Arabia expected to extend voluntary oil cut for September, analysts say
Saudi Arabia is expected to extend a voluntary oil output cut of 1 million barrels per day for another month to include September, five analysts said, to provide additional support for the oil market. In June, OPEC+ agreed on a broad deal to limit oil supply into 2024 and Saudi Arabia pledged an additional voluntary cut for July. On July 3, Saudi Arabia said it would extend the cut for another month to include August, adding that it could be extended further. Oil prices have found some support from evidence of tightening supplies and economic stimulus in China. Brent crude was trading at over $84 a barrel on Friday, after hitting the highest level since April on Thursday. «Given the tentative recovery, my guess is they continue the cut for one more month and then phase it out over three months — similar to what Saudi did in 2021,» said Gary Ross, founder of Black Gold Investors and a veteran OPEC watcher. The Saudi Energy Ministry did not respond to a request for comment.
28.07 / 14:27
FIVE
performer
network
Satin Creditcare Network Q1 Results: Co back in black with Rs 88 crore net profit
Satin Creditcare Network on Friday reported a 43% rise in standalone net profit for the quarter ending June 30 as compared with Rs 60 crore in the year ago period. Satin said it's the company's highest-ever first quarter profit in the past five years. Its net interest margin stood at 12.64% «The performance was better than our expectation,» Satin chairman HP Singh told ET.
28.07 / 14:27
Citi
Provident
FIVE
Action
Assurant
voice
Real estate industry experts voice concern over lack of registration of realty projects in Delhi
Real estate industry experts have voiced apprehensions regarding the lack of registration of realty projects in the national capital and agents' failure to display RERA (Real Estate Regulatory Authority) details while selling high-value properties. During a CII Delhi session with RERA-Delhi, developers and property consultants said that they were concerned that real estate agents are promoting properties in South and Lutyens Delhi without disclosing the essential RERA details.
28.07 / 13:49
UPS
FIVE
Manufacturing
HON
country
Taiwan India's most trusted partner in semiconductor plans: Foxconn chairman Young Liu
Foxconn chairman Young Liu on Friday said India and Taiwan could be partners in the development of a robust semiconductor ecosystem in India. Speaking at the Semicon 2023 in Gandhinagar, Gujarat, Liu said that he was optimistic about the direction and the roadmap of India's semiconductor plan.
28.07 / 13:45
FIVE
Aware
Department
Returns
ITR filing 2023: Over five crore income tax returns filed so far, says income tax department
income tax department said on Friday. "Out of the 5.03 crore ITRs filed till 27th July, 2023, about 4.46 crore ITRs have been e-verified i.e. more than 88% ITRs filed have been e-verified!," the I-T department tweeted.
28.07 / 13:45
Provident
FIVE
CEO
Strategy
Align
performer
country
Power
Kincentric 2023 Research Reveals the Power of Consistency in Employee Experience
Kuala Lumpur, Malaysia & Gurgaon, Haryana, India – Business Wire India The latest research by Kincentric, a Spencer Stuart company focused on improving leadership impact by unlocking the power of people and teams, identifies a number of compelling business outcomes that can be achieved when organizations deliver a consistent and cohesive employee experience (EX) across the organization. The Global Employee Experience Trends 2023 Report reveals that employee engagement has plateaued over the last five years, and CEOs and CHROs must now shift their approach to EX if they want to accelerate business outcomes through their people.The study, backed by extensive data from over nine million respondents across 2500 organizations, 162 countries and 62 industries, emphasizes the need for leaders to act on employee experience more holistically, with consistency of experience emerging as a key factor in driving business impact.
28.07 / 13:33
Provident
FIVE
Cooper
Action
track
social
Teen was sexually abused at therapeutic boarding school, lawsuit says as parents advocate oversight
The parents of a teenager with special needs say he was repeatedly sexually assaulted beginning when he was 14 by an employee at a small private boarding school in South Carolina
28.07 / 13:33
28.07 / 13:33
28.07 / 12:31
UPS
Provident
FIVE
Manufacturing
Assurant
Vedanta to invest $5bn in first phase for semicon fab, comfortable in debt position: Anil Agarwal
Vedanta will invest $5 billion in the first phase of setting up its semiconductor fab, packaging testing unit and display fab unit, for which capital allocation will be done through a mix of debt and equity, the group’s chairman Anil Agarwal said in an interaction with Mint. “The first phase will be $5 billion. We will take will the structuring because it will be now the main company, and Vedanta has a good cash flow.
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