Manufacturing Financial News

President Joe Biden and Donald Trump agree on essentially nothing, from taxes and climate change to immigration and regulation

The maker of a popular weedkiller is planning to amplify its push for legal protection against lawsuits claiming it failed to warn the product could cause cancer

Hawaii's attorney general says a court has ordered the manufacturers and distributors of the blood thinner Plavix to pay the state a combined $916 million after finding the companies failed to disclose the efficacy and safety of the medication

Alphabet had announced in October last year that it will make Google Pixel smartphones in India. It's the only large global smartphone brand that was missing from the make-in-India drive in smartphones. Dixon's Pixel capacity will be 100,000 units per month with 25-30% to be exported as it makes a fresh attempt to gain market share in India, the world's second largest smartphone market. The Pixel 8 model accounts for almost 80% of all Pixels sold in India, executives said.

Nobel laureate in economics Paul Krugman said it’s entirely unclear where interest-rate levels are headed over the medium term, with arguments in favor of both a return to pre-pandemic levels and a higher-for-longer outcome.

government has issued mandatory quality norms for asbestos or fibre cement-based products to curb the import of sub-standard goods and boost domestic manufacturing. A notification 'Asbestos or Fibre Cement based Products (Quality Control) Order, 2024 ' was issued in this regard by the Department for Promotion of Industry and Internal Trade (DPIIT) on March 6 this year. Under these orders, items cannot be produced, sold, traded, imported and stocked unless they bear the Bureau of Indian Standards (BIS) mark. «It shall come into force on the expiry of six months from the date of publication of this notification in the Official Gazette,» the DPIIT notification said.

JK Tyre & Industries on Tuesday said its consolidated net profit increased 54 per cent to Rs 172 crore for the fourth quarter ended March 31, 2024, on account of higher sales. The tyre maker had reported a net profit of Rs 112 crore in the year-ago period. Total income rose to Rs 3,714 crore for the fourth quarter as compared with Rs 3,645 crore in the year-ago period, JK Tyre said in a statement.

commodity prices, the 15 constituent Nifty Metal index crossed the 10,000 mark for the first time ever in Tuesday’s session, before closing nearly 4% higher at 9,981. The Nifty Metal index has been on a rising spree, making new highs since the second half of 2023. The index also made new all-time highs in 5 consecutive trading sessions.

Federal Reserve Gov. Christopher Waller, citing a string of data showing that inflation appears to be easing, said Tuesday that he does not think further interest rate increases will be necessary.

The growing global concern about obesity and its impact on other health related matters is driving a surge in companies developing solutions.

A Senate inquiry has found BMW, Jaguar Land Rover and Volkswagen have bought parts made by a Chinese company sanctioned under a 2021 law for using forced labor

Indian economy's report card moving away from the red: Mint tracker "For the full-year FY24, ICRA expects the GDP and GVA growth to print at 7.8% and 7%, respectively, unless the growth for 9M FY2024 (April-December 2024) is revised," it added. Senior government officials said the divergence in GDP and GVA data during Q3 could be attributed to reduced fertiliser subsidy disbursements, suggesting the government hadn't fully disbursed these subsidies, leading to a disparity between GDP and GVA.

economy is cognisant of the fact that the Indian economy is on the cusp of a long-awaited takeoff, the Reserve Bank of India on Tuesday said that extreme deprivation is set to become extinct. The central bank in its monthly bulletin noted that external agencies like International Monetary Fund and the World Bank have shown considerable appreciation for the dramatic reduction in poverty seen in recent decades. The World Bank has estimated that only 12.9 per cent of the Indian population lived on $2.15 per day at the height of the Covid-19 pandemic in 2021. $2.15 is the the global benchmark for extreme poverty.

Man Industries (India) Ltd on Tuesday said it has bagged new orders worth Rs 505 crore from an international company. The order is for the supply of various types of pipes, the company said in a BSE filing. «The company has received new export orders of approximately Rs 505 crore,» it said. The total unexecuted order book of the company as of today stands at approximately Rs 2,100 crore which would be executed in the next six to eight months, according to the filing.

JSW Cement, a part of $24.25-billion JSW Group, on Tuesday said it plans to invest around Rs 3,000 crore to set up a cement manufacturing facility in Rajasthan’s Nagaur district. The new facility will be funded by a mix of debt and equity, the company said. The investment in the new facility will have a clinkerization unit of up to 3.30 MTPA (million tonnes per annum) and a grinding unit of up to 2.50 MTPA, a statement from JSW Cement said, It added that the new plant will have an 18 MW waste heat recovery-based power generation system.

car loans, you can make a savvy, informed decision and ensure your new car doesn’t become a financial speed bump. (Source: Paisabazaar; Rates and charges as of 20th May 2024)Bank of Maharashtra is offering a 0.25% interest rate concession for existing housing loan borrowers and corporate salary account holders. Similarly, Indian Overseas Bank provides a 0.50% interest rate concession to borrowers with credit scores of 800 and above, while those with credit scores between 750 and 799 receive a 0.25% concession.

Also Read: Stock market today: Sensex, Nifty 50 end in green in the second special trading session; all sectoral indices shine Two special live trading sessions were held on Saturday, May 18, for the domestic benchmark indices. First, from 9:15 IST to 10 IST, from a primary site; second, from 11:30 IST to 12:30 IST, from a site dubbed the disaster's recovery site. According to Arvinder Singh Nanda, Senior Vice President of Master Capital Services Ltd., the benchmark indices had a strong run and made up for the losses from the previous week.

JB Pharma forecasts its revenues to grow 12-14% and the earnings before interest, tax, depreciation, and amortisation (Ebitda) margins by 27-28% in FY25, the company's top executive said.

Prices of Indian lab-grown diamonds (LGDs) have crashed by 45% in FY24 due to overproduction in the global markets. In FY24 global production of lab-grown diamonds stood at 40 million carats, which is almost 33% higher than FY23 production.

Delhi High Court has refused to direct all the medical professionals in the country to specify to the patient all possible risks and side effects associated with a drug, or a pharmaceutical product being prescribed. A bench of Acting Chief Justice Manmohan and Justice Manmeet Pritam Singh Arora dismissed a PIL filed by Kerala-based social worker Jacob Vadakkanchery, also a naturopath, seeking a mandate from the government that medical professionals should specify the side effects in an additional slip in the regional language along with the prescription. «Since the legislature in its wisdom has elected to impose this duty on the manufacturer and the pharmacist (to state about side effects), we do not find any ground for issuing a direction as prayed for in this PIL as it would amount to judicial legislation,» the HC said in its May 15 order. The judges noted that while Vadakkanchery had admitted there are safeguards under the existing law with respect to apprising the patient about the possible side effects of the prescribed drugs, the Drugs and Cosmetics Act 1945 obliges the manufacturer or its agent importing the drug to provide a package insert which shall duly disclose the side effects of the drugs to the consumer.

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