Manufacturing Financial News

Investing.com-- Most Asian stocks kept to a tight range on Wednesday as caution before key economic readings from China offset growing optimism over an early pivot by the Federal Reserve. 

Investing.com-- Most Asian currencies rose on Wednesday as less hawkish signals from Federal Reserve officials ramped up hopes for an early interest rate cut in 2024, which put the dollar near four-month lows. 

Launch of a new beer is expected to help United Breweries share price rise 20%, said Nuvama Institutional Equities. Heineken Silver Draught Beer will be launched exclusively in premium bars and pubs across Mumbai, Thane, and Pune in Maharashtra, with plans to expand to Karnataka in the fiscal year 2024. “This launch is a meaningful expansion of United Breweries’ portfolio and shows its intent to focus on innovation," said Nuvama nstitutional Equities.

Shein has a lot of work to do to convince skeptics that the runway is clear for it to launch an initial public offering next year. The Singapore-headquartered company filed confidentially for a listing in New York, a person familiar with the matter has said, weeks after Bloomberg News reported that it could seek a valuation of as much as $90 billion in a first-time share sale.

TCS: The ₹17,000 crore-share buyback programme of India’s top software services exporter Tata Consultancy Services (TCS) will open on 1 December. The buyback, where investors can sell to the company their shares at an offer price of ₹4,150 apiece, will close on 7 December, TCS said in a regulatory filing on Tuesday. The IT bellwether aims to repurchase up to 40.9 million shares (1.12% of the total equity share capital) at ₹4,150 apiece in a buyback valued at ₹17,000 crore.

Michigan Gov. Gretchen Whitmer has signed a clean energy package that will require energy providers to transition to 100% carbon-free energy generation by 2040

Tata Advanced Systems Ltd (TASL) has set up a facility to manufacture high-resolution imagery satellites that will help the armed forces keep a closer eye on border areas, betting big on the military space sector. The Bengaluru-based facility will manufacture sub-metre resolution satellites and will have a ground station that can control their movement and process imagery required by the armed forces to monitor infrastructure or acquire military targets. The defence ministry has thrown open a challenge to Indian industry to make metre and sub-metre resolution satellites for military use. Built on TASL's considerable defence sector capabilities, the facility is geared to manufacture up to 24 low earth orbit (LEO) satellites a year.

Advanced Micro Devices (AMD) touch every aspect of chip design globally, its global chief technology officer Mark Papermaster told ET in an interaction. The Santa Clara-based semiconductor company on Tuesday inaugurated a new AMD Technostar campus, its largest data centre globally, in Bengaluru.

Check out the companies making headlines in extended trading.

Charles Munger, the alter ego, sidekick and foil to Warren Buffett for almost 60 years as they transformed Berkshire Hathaway Inc. from a failing textile maker into an empire, has died. He was 99.

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By Sarah Wu

(Reuters) -Defense manufacturer Textron (NYSE:TXT) said on Tuesday it would cut 725 jobs as part of its restructuring plan in an attempt to reduce operating expenses.

Canaan – a China-based Bitcoin (BTC) ASIC manufacturer and operator – lost nearly half its revenue from mining machine sales last quarter, according to its Q3 earnings.

Investing.com — Here is your Pro Recap of the biggest analyst cuts you may have missed since yesterday: downgrades at Shopify, ChargePoint, Welltower, and American Axle & Manufacturing.

shortage of skilled labour in the frontline or blue-collar workforce has prompted companies across sectors such as industrial/manufacturing, electrical/electronics, NBFCs, retail, ecommerce and FMCG to hire more hands with class X/XII qualifications, and then train the apprentices in specific skill sets to make them «jobs-ready». This is leading to an all-time high demand for apprentices, as per a study by TeamLease Degree Apprenticeship, shared exclusively with ET. The net apprenticeship outlook — or the willingness among employers to engage apprentices — for H2 (Oct-Mar) has soared to record high with 75% of the organisations planning to onboard apprentices versus 41% in the same period in 2021.

More than 65% of MSME firms have been found to be manufacturing drugs that are not of standard quality (NSQ), during risk-based inspections of pharma companies conducted since December last year, said a person with knowledge of the matter. Out of the total MSME units inspected, 30% were issued stop production orders (SPO), the person cited above told ET. «Samples of 68% MSME companies have failed. This is alarming,» the person said.

JSW Steel on Tuesday said it has paid about Rs 2.79 lakh that was levied as penalty by the Reserve Bank of India (RBI) on JSW Ispat Special Products Ltd (JISPL). JISPL was amalgamated with effect from July 31, 2023 after an order of the National Company Law Tribunal dated June 22, 2023, JSW Steel said in a filing on Tuesday.

Tata AutoComp Systems has sold a land parcel measuring over 13.26 acres in Pune’s Maan area to real estate developer Titania Industrial Development for Rs 134 crore. The company has sold the land along with around 1 lakh sq ft structure on the same. The said property falls under the industrial zone and Tata Autocomp Systems has already made an application to Pune Metropolitan Regional Development Authority (PMRDA) for change of the plot’s zone to residential. Of the total consideration, Titania Industrial Development has paid Rs 24 crore in two tranches of Rs 15 crore and Rs 9 crore on October 4 and October 6, respectively.

Defence Ministry is scheduled to take up two of India's biggest-ever fighter aircraft projects worth Rs 1.3 lakh crore for discussion in a crucial meeting this week including buying 97 new LCA Mark 1A fighter aircraft and indigenously upgrading 84 Su-30 MKI combat planes. «The projects are scheduled to come up for discussion at the Defence Ministry meeting scheduled on November 30,» defence sources told ANI. Sources said the 97 LCA Mark1A project would help the country to build a strong fighter aircraft manufacturing ecosystem across the country and also help the Indian Air Force to replace its MiG-21 fleet which is being phased out. The two projects are listed for discussion at the Defence Acquisition Council meeting planned on November 30. The Indian Air Force has already ordered 83 LCA Mark1A fighter planes and their deliveries are expected to start in February-March 2024. The value of the 97 aircraft is expected to be around Rs 65,000 crore which would be the largest ever fighter aircraft deal in the country. The Su-30 MKI fighter aircraft project upgrade programme is also one of the biggest ever programmes planned to be done completely indigenously where Indian weapons, sensors and radars would be fitted on Russian-origin planes. The project is expected to cost around Rs 64,000 crores. The Indian firm Hindustan Aeronautics Limited will be doing the complete design and development work on the aircraft which includes equipping the aircraft with the latest Virupaksha AESA radars. The Su-30 fighter jets are the mainstay of the Indian Air Force with 260 of them already in service.

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