ICE Financial News

Tata Motors, the country’s leading electric passenger vehicle company, is beginning to revamp its passenger vehicle line-up, including EVs, to stay competitive in a market where new launches from automakers are increasing choices for younger, aspirational Indian buyers. As the company scales up its EV production, it can localize further, and enhance cost structures. It has relaunched the Nexon, India’s largest selling electric car, and its IC-engine version at a starting price of ₹14.74 lakh and ₹8.09 lakh ex-showroom, respectively.

The operator of a luxury cruise ship that ran aground in Greenland with 206 people on board said Thursday that the MV Ocean Explorer was “successfully” pulled free by a fisheries research vessel at high tide

By Muyu Xu

cruise ship carrying 206 people that ran aground in the world's northernmost national park in Greenland has failed after trying to use the high tide, authorities said. It was the third attempt to free the MV Ocean Explorer.

In the ever-evolving landscape of cryptocurrency, Bitcoin continues to hold its ground, currently trading at $25,952, reflecting a noteworthy 3% increase on this Wednesday.

Some food-based commodities that may not have granted their investors a fair handshake before seem to be giving them a lot more now.

Mount Taranaki on the North Island in New Zealand and survived with minor injuries. Confirming the incident, the police said that the man survived because the spring weather softened the ice and the mountaineer landed in the snow. He was a member of the group that was climbing the Mountain Taranaki when he suddenly slipped and tumbled down.

The temperature says it's summer outside, but Delta Air Lines is training employees in how to de-ice an airplane — a critical part of flying during the cold winter months

The temperature says it's summer outside, but Delta Air Lines is training employees in how to deice an airplane — a critical part of flying during the cold winter months

G20 Summit, it's a meeting marathon for Prime MInister Narendra Modi as every guest leader wants to talk to the host. During the summit, PM Modi is holding 15 bilateral meetings with other heads of states. But summit conferences are not just about bilateral meetings.

We're talking about September 9, which is more famously now conceived as the 'World EV Day'. The global automotive space celebrates the growing momentum of the EV industry, highlighting the need for sustainable mobility, free of tailpipe emissions. The whispers of the segment have started to transition into choruses, yet, remain restrained by marked challenges. However, it's no secret that EVs in India, is a rapidly growing segment. Things actually started to pace up with the rollout of schemes such as the PLI (Production Linked Incentive) and the FAME (Faster Adoption and Manufacturing of Electric and Hybrid Vehicles in India) subsidies, which are aimed at making EVs affordable to the masses. The segment has started to shape up yet there are several factors posing as a roadblock in mass EV adoption such as a lack of charging infra, high upfront costs of EVs as compared to ICE vehicles, to state the obvious.

Carrefour is set to attach labels to products sold in its stores warning shoppers of what it deems to be “shrinkflation", the latest volley against the major food producers accused of trying to profit from inflation. From Monday next week, all products that Carrefour claims to be practicing shrinkflation—when a product has become smaller but the price charged by the supplier has risen without changes to the recipe or packaging—will be labeled as such, the French supermarket chain said Friday. The bright orange label, measuring about five square inches, also informs consumers that Carrefour is committed to re-negotiating the price of the product in question.

airport. According to media reports, the G20 leaders will be treated to an exquisite Indian vegetarian platter with delicacies from across the country.

China's Alibaba Group Holding Ltd is putting a potential Hong Kong initial public offering of its Freshippo grocery chain on hold amid weak sentiment for consumer stocks, Bloomberg News reported on Friday, citing sources. The Chinese technology conglomerate has concluded it could likely achieve a valuation of around $4 billion for Freshippo, which is lower than the $6 billion to $10 billion it was targeting when it considered raising a private funding round last year, according to the report.

The sweltering heat wave in Texas has the power grid manager again asking residents to cut electricity use

Ashok Leyland, a Hinduja Group flagship company, will channel its capital expenditure towards developing various alternative fuel technologies for commercial vehicles over the next 18 months, even as it works on lowering development costs with partners, executive chairman Dheeraj Hinduja said. The company, known for its trucks and buses, has earmarked a capex of ₹600-700 crore for this financial year, and a significant part of it will be directed towards creating products with alternative fuel systems, such as hydrogen fuel cell buses, hydrogen-powered internal combustion engine (ICE) trucks, electric intermediate-trucks, as well as vehicles running on compressed natural gas (CNG) and liquefied natural gas (LNG). Leyland’s net-zero emissions subsidiary Switch Mobility has rolled out a range of electric light commercial vehicles (the IeV range) for last-mile transportation.

EU climate monitor said on Wednesday. Heatwaves, droughts and wildfires struck Asia, Africa, Europe and North America over the last three months, with dramatic impact on economies, ecosystems and human health. The average global temperature in June, July and August was 16.77 degrees Celsius (62.19 degrees Fahrenheit), surpassing the previous 2019 record of 16.48C by a wide margin, the European Union's Copernicus Climate Change Service (C3S) said in a report. «The three months that we've just had are the warmest in approximately 120,000 years, so effectively human history,» C3S deputy director Samantha Burgess told AFP. Last month was the hottest August on record and warmer than all other months except July 2023. «Climate breakdown has begun,» said UN Secretary General Antonio Guterres, echoing famous testimony before the US Congress 35 years ago, in which government scientist James Hansen declared that global warming had begun. «Our climate is imploding faster than we can cope,» Guterres added. Also on Wednesday, the World Meteorological Organization warned that more frequent and intense heatwaves are generating a «witch's brew» of air pollution that shortens human lifespans and damages other life forms. «Heatwaves worsen air quality, with knock-on effects on human health, ecosystems, agriculture and indeed our daily lives,» WMO chief Petteri Taalas said in a statement. Record-high global sea surface temperatures played a major role in stoking heat throughout the summer, with marine heatwaves hitting the North Atlantic and the Mediterranean Sea. «Looking at the additional heat we have in the surface ocean, the probability is that 2023 will end up being the warmest year on record,» Burgess said. If the Northern Hemisphere

By Matt Tracy and Davide Barbuscia

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.

Urals oil loaded from the state's ports in August, despite a record rise in prices for the grade, traders, LSEG data and Reuters calculations showed.Indian refineries said in August that the Urals discount to the dated Brent benchmark crude had narrowed too much, making them cut purchases of the grade in September. Discounts for Urals oil loading in August narrowed to $5 per barrel and below on a DES (delivered ex ship) basis in Indian ports — a record low since a European Union embargo on Russia's oil. Along with the EU embargo, the G7, the European Union and Australia imposed a $60 per barrel price cap last December on sea-borne exports of Russian crude in retaliation for Russia's war on Ukraine, which Moscow calls a special military operation. The increase in prices for the Russian grade was due to Russia's pledge to cut oil exports in August by 500,000 barrels per day (bpd) in cooperation with OPEC+ to balance oil markets.