International Financial News

Ford's top executive says that last fall’s contentious United Auto Workers’ strike changed the company's relationship with the union to the point where it will “think carefully” about where it builds future vehicles

The Biden administration is giving airports $970 million for improvements in terminals including things like wider concourses, new baggage-handling systems, and more gates

Cleveland-Cliffs is shutting down a northern West Virginia tin production facility indefinitely and plans to lay off 900 workers

Air Canada AC.TO lifted forecast for its 2024 core profit on Friday, as Canada’s largest carrier benefits from resilient demand for international travel.

External Affairs Minister S Jaishankar on Friday discussed bilateral cooperation as well as global and regional issues with his British counterpart David Cameron on the sidelines of the Munich Security Conference here in Germany. Jaishankar is here to attend the 60th edition of the prestigious Munich Security Conference, which calls itself the world's leading forum for debate on international security. The Indian minister is to participate in a panel discussion on 'Growing the Pie: Seizing Shared Opportunities,' which is also to be addressed by German foreign minister Annalena Baerbock, and US Secretary of State Antony Blinken on Saturday. «Started my engagements at #MunichSecurityConference by meeting UK Foreign Secretary @David_Cameron. A good discussion on our bilateral cooperation as well as global and regional issues,» Jaishankar posted on his official X handle along with a photo of the meeting.

With a commanding lead in the polls ahead of a general election later in the year, the opposition party has set out its plans for financial services. Warning that the UK is in danger of slipping behind when it comes to innovation in financial services, the party says it will adopt a coordinated strategy and regulatory framework to embrace new technology. Labour "fully supports" the Bank of England's CBDC work and also wants to embrace securities tokenisation, which it says could increase liquidity, provide access to new asset classes and fractionalised assets, and strengthen risk management. "A future Labour government will therefore look to make the UK a global leader in tokenisation by advancing work to clarify the law around tokenisation, and working with regulators to establish a proportionate, outcomes-based regulatory regime to oversee the technology," says the plan. Labour also wants to take a lead in setting international standards for the use of AI in financial services. Meanwhile, the party is backing the Joint Regulatory Oversight Committee's work to define the next phase of Open Banking including laying out the long-term regulatory framework. It is also promising to develop a roadmap for Open Finance, arguing it has the potential to help improve financial inclusion and support household saving and investment. In addition, a Labour government will ask the FCA and PSR to evaluate the potential to stand up a new regulatory sandbox to encourage development of products to reach excluded and underserved Brits. Read the full plan

Akasa Air will operate four non-stop flights a week, connecting Mumbai with Doha, enhancing air connectivity between Qatar and India," the airline said in a release. Bookings for flights are now open on Akasa Air’s website www.akasaair.com, Android and iOS app and through multiple leading OTAs, with return fares starting at ₹29012. With this, Akasa Air becomes the first Indian airline to fly overseas in a record period of 19 months since its inception.

By Kanishka Singh

By Mohi Narayan and Yuka Obayashi

Assam based Numaligarh Refinery Limited (NRL) is executing its mega project of laying of a cross country pipeline of 1635 km from Paradip Port in Odisha to Numaligarh along with expansion of its refinery from 3.0 MMTPA to 9.0 MMTPA, as part of ‘Numaligarh Refinery Expansion Project (NREP)’. The prestigious NREP Project is the single largest Investment in Northeast India as part of Government of India’s ‘Hydrocarbon Vision 2030 for North East India’. The pipeline passes through five States traversing numerous enroute crossings including all major rivers of East India, namely Ganga, Jia Bharali, Subansiri, Brahmaputra through a technique called Horizontal Directional Drilling (HDD) with intersection. Subansiri River, which connects Lakhimpur in the North and Majuli in the South side, is one of the of the most challenging HDD sites due to its complex 3510-meter-long profile length for a 26-inch diameter pipe.

United States, Israel's main ally, was working with several Arab countries on a comprehensive plan for long-term peace between Israel and the Palestinians. The plan included a firm timeline for the establishment of a Palestinian state, the newspaper reported.

Infosys: Recovering from the loss of a billion-dollar deal in December, Infosys has kicked off 2024 with momentum, securing two significant contracts. The most recent is a $300 million contract with Singapore-based Pacific International Lines running until 2027, according to industry executives. The Singapore deal marks Infosys's second significant multi-year contract announcement within a month, following a seven-year agreement with Irish food retailer Musgrave on 31 January to automate its IT functions using AI and cloud solutions.

Dividend stocks: Shares of Oil and Natural Gas Corporation (ONGC), Emami, Torrent Power, Page Industries, JK Tyre & Industries, IRCON International, Sundaram Finance, Manappuram Finance, BEML, Siyaram Silk Mills, Dalmia Bharat Sugar and Industries, NLC India, JK Paper, Alkem Laboratories, Bajaj Consumer Care, Banco Products (India), Saven Technologies, Aarti Pharmalabs, Akzo Nobel India, Computer Age Management Services, Disa India, Firstsource Solutions, IOL Chemicals & Pharmaceuticals, J.B.Chemicals & Pharmaceuticals, Orient Cement, Shivalik Bimetal Controls, Triveni Turbine, Vidhi Specialty Food Ingredients, Mitsu Chem Plast, and Scanpoint Geomatics will be in focus when the stock market opens on February 16 (Friday). The Board of Directors of these companies have declared interim dividend and rights issue for their eligible shareholders.

In today's trade, shares of Entero Healthcare, YES Bank, Alpex Solar among others will be in focus due to various developments.

Online seafood firm Captain Fresh has raised $25 million in a funding round led by UK government-backed British International Investment (BII) and Andhra Pradesh-based Nekkanti Seafoods Group. The funding was part of a larger $48 million extended funding round at a $500 million valuation, out of which $20 million had already been raised by the firm in September last year. That round had been led by Japan-based SBI Investment and Evolvence Capital, and had also seen participation from existing investors like Tiger Global, Prosus, Accel and Matrix Partners India.

Electric vehicle (EV) owners in Canada may start to see their insurance rates jolt in the coming years, a new report indicates.

Raymond James is extending its presence in South Florida as it welcomes a new team to its employee advisor channel. The Behar-Nagel Group, led by financial advisors David Behar and David Nagel, has officially joined Raymond James Associates in its Hallandale Beach office.

debt to expedite the purchase of stressed loans, said people with knowledge of the matter. The ARC has initiated talks with private and government-owned banks to raise five-year debt, preferably in the form of non-convertible debentures (NCD). The ARC will use the funds to make cash payments to banks against the purchase of non-performing loans. NARCL offers 15% of consideration as cash payment, and balance 85% is paid in the form of security receipts paid on recovery of loans or at the end of five years or whichever is earlier. The fundraise would enable NARCL to acquire about ₹20,000 crore bad loans from banks. NARCL did not respond to ET's request for comments.

MUMBAI : Senior BJP leader Subramanian Swamy on Thursday moved the Delhi High Court alleging a scam of nearly ₹5,100 crore in the way Axis Bank sold and purchased shares of insurer Max Life Insurance Company. Max Life is a joint venture between Max Financial Services and private lender Axis Bank. On 6 February, the Insurance Regulatory and Development Authority of India (Irdai) approved Axis Bank’s proposal to purchase another 7% in Max Life for ₹1,612 crore.

New Delhi: Brazil’s presidency of G20 is expected to take forward the New Delhi G20 declaration on food security by promoting sustainable agriculture through low-carbon agricultural and fair trade, a Brazilian diplomat said, a development focus that started with last year’s summit in India. The Brazilian move comes against the backdrop of left-wing leader Luis Inacio Lula da Silva’s election as president for the second term last January.

Venezuela's government on Thursday ordered the local U.N. office on human rights to suspend operations and gave its staff 72 hours to leave, accusing the office of promoting opposition to the South American country. Foreign Affairs Minister Yvan Gil announced the decision at a news conference in Caracas, the capital. Gil's announcement came on the heels of the detention of human rights attorney Rocio San Miguel, which set off a wave of criticism inside and outside the South American country. Gil said the office has been used by the international community «to maintain a discourse» against Venezuela.