Manufacturing Financial News

Donald Trump, the Republican frontrunner in the 2024 presidential race, said on Friday that if re-elected he would reverse all the gun restrictions enacted by President Joe Biden. Speaking to thousands of supporters at an event organized by the National Rifle Association (NRA), Trump vowed to rescind a rule restricting sales of gun accessories known as pistol braces and other restrictions put in place by the Biden administration.

Airbus is looking for partnerships in Indian defence and space sectors, Michael Schoellhorn, CEO of Airbus Defence and Space, said on Friday. The European aerospace major is also looking for tie-ups with both private and government companies to develop a sourcing and manufacturing base in India, he said. «In a world that is changing so rapidly, it is important to have partners that you can trust and are reliable. The relationship of Airbus and India is one such partnership,» Schoellhorn said, adding «we can say that we make in India, skill in India and innovate in India.»

Processed food and drinks have internationally been subject to voluntary caps on fat, salt and sugar. Front-of-package labelling has been used to effectively signal health choices, and sin taxes have been deployed to deter consumption. India has a demerit tax on sugary drinks, but is yet to get its manufacturers to cut back on sugar levels prevalent in Europe, the US or even in Singapore.

Reliance Consumer Products (RCPL) has acquired the trademarks, recipes, and all intellectual property rights of sugar-boiled confectionery maker Ravalgaon for Rs 27 crore, according to a stock market disclosure by Ravalgaon Sugar Farm Ltd. Ravalgaon owns nine confectionery brands such as Pan Pasand and Coffee Break. This fits RCPL's strategy of acquiring old Indian brands which are under distress and relaunching them, like it had acquired the Campa soft drink brand. The deed was signed between both the parties on Friday. It excludes the slump sale of all assets and liabilities of Ravalgaon. “It is clarified that while 100% of the revenue of the company (Ravalgaon) is ascribed to the intellectual property being sold, the company will continue to hold all other assets such as property, land, plant, building, equipment, machinery, etc. post completion of the proposed transaction,” as per the disclosure.

Global disruptions may pose many challenges to how the world operates but they also offer considerable opportunities, the Prime Minister of Guyana Brigadier Mark Anthony Phillips said, giving the example of India's Vaccine Maitri that helped vulnerable countries at a time of need and propelled domestic manufacturing as well. Guyana, which has produced legendary cricketers like Clive Llyod and fast bowling debutant Shamar Joseph who propelled the West Indies to a stunning Test victory over Australia last month, has close diplomatic relations and a unique tie to India. The Prime Minister shared that 40% of Guyana's population comprises people of Indian origin. In his address at the summit, Phillips made a case for innovative and collaborative approach to meet common challenges being faced by nations across the world. «In the simplest of terms, global disruptions essentially change how the world operates. In today's world, disruptive forces such as technology, globalisation, and economic and demographic change, are constantly occurring,» the PM said.

India will become the number one automobile manufacturing hub in the world by 2029 and the country will be the third largest economy, road transport and highways minister Nitin Gadkari said on Friday. The government's focus going forward will be to build a world-class road network, move to alternative fuels and bring down logistics costs in the country, Gadkari added. «One thing is very clear: if we need capital investment, development and industry, we should have good infrastructure, water, power, transport and communication,» he said. «Without that, we cannot develop our agriculture, service industry and tourism.»

Congress in August 2022 approved the landmark Chips and Science Act. The law provides $52.7 billion, including $39 billion in subsidies for semiconductor production and $11 billion research and development. It also creates a 25% investment tax credit for building chip plants, estimated to be worth $24 billion.

General Motors has hired a former Tesla executive, Kurt Kelty, to serve in the newly created role of vice president of batteries as the automaker continues to work on its electric vehicle strategy

Federal wildlife officials have agreed to conduct a year-long review to determine whether a tiny snail found only in high-desert springs near a huge lithium mine being built along the Nevada-Oregon line should be listed as a threatened or endangered sp...

Georgia's ruling Republicans are moving to make it harder for workers at companies that get economic incentives to join labor unions, in what could be a test of current federal law

₹27 crore, giving it rights to brands such as Pan Pasand and Mango Mood. "The Board, on the recommendation of the audit committee of the company, inter alia approved the sale, transfer and assignment of the trademarks, recipes, all intellectual property rights, including all rights, interests, and protections associated therewith, relating to the company’s sugar boiled confectionery business to Reliance Consumer Products Limited, for a consideration of Rs27 crore," The Ravalgaon Sugar Farm Ltd said in a filing to the exchanges on Friday. The proposed transaction includes the sale of the intellectual property, and does not envisage a slump sale of all assets and liabilities of the company.

A new poll by the Associated Press and NORC Center for Public Affairs Research finds most Americans believe air travel is generally safe in the U.S. The poll was released Friday

Mint. Jungle's investment in Walko Food is estimated to be more than $7 million, one of the people said. However, Mint was not able to procure the size of the investment in TAE.

By Toby Sterling

Boeing executives extended an olive branch to the company's strained supply chain this week to help them deal with the fallout of the latest 737 MAX crisis, but those firms are taking a wait-and-see attitude after years of dealing with the planemaker's hard-line approach. The aerospace giant's shift in tone was underlined by a speech on Wednesday by Ihssane Mounir, Boeing's vice president of supply chain and fabrication, at an aerospace conference outside Seattle. «We build the airplane together. There's no you and us. It's just us,» he said.

₹2,888 crore for FY23—three times that is ₹8,664 crore ($1.04 billion). The company has “a range of options" to achieve debt reduction, he said, though it was “unlikely" it would sell equity stake in any of its units. “We have the potential to generate cash from our business operations, and we’ve also explored licensing opportunities in the past, which could contribute additional income.

₹ 3,716.1 million as compared to ₹ 3,037.3 million in Q3’FY23. ▪ EBITDA for Q3’FY24 grew by an impressive 42.7% to ₹ 693.5 Mn as compared to ₹ 485.8 million in Q3’FY23. EBIDTA margin for Q3’FY24 expanded by 270 bps to an impressive 18.7% as compared to 16.0% in Q3’FY23.

NEW DELHI : Intel has no plans to set up a semiconductor fabrication unit in India in the near future and is unlikely to expand its manufacturing capacities for other products, said the company’s India managing director Santosh Viswanathan. The technology major is instead focusing on enabling ecosystem players in the production linked incentive (PLI) scheme to scale up electronics manufacturing chains in the country, which he said would lead to more job creation. “At this point in time, we don’t have any plans to do a fab or build any manufacturing capacity in India at this stage, but it doesn’t mean the engagement stops.

Grasim Industries share price rose as much as 5.92 percent on Friday's trading session. Grasim stock surged to ₹2,179 per share on February 9, against previous close at ₹2,057 crore on NSE.

Thursday marked a momentous day for Arm Holdings (NASDAQ:ARM), as its stock saw an unprecedented rise of 48% in the wake of its much stronger-than-anticipated Q3 results and full-year revenue outlook hike.

Hero MotoCorp share price with gains of more than 1.5% touched 52-week highs on Friday. The stock is in a uptrend having risen more than 88% in last 12 months. The investor sentiments on Hero MotoCorp remain upbeat after strong festival season sales seen by the two-wheeler manufacturers during the festive season.