Manufacturing Financial News

Donald Trump, the frontrunner for the Republican presidential nomination, said on Saturday that he would kill off a Pacific trade pact being advanced by U.S. President Joe Biden if he were to win the 2024 election and return to the White House. Speaking to supporters in Iowa, Trump said he was against the regional trade deal being negotiated by the Biden administration with 13 other countries, arguing that it would hollow out U.S.

global market cues including US bond yields, crude oil prices, and performance in US markets. Domestic markets extended their bullish tone for the third successive week and gained over a per cent. The beginning was downbeat but the bias changed in the following sessions with a surge in the US markets.

MAIT said that India is poised for a revolutionary leap in IT hardware manufacturing. The government on Saturday announced that 27 firms, including Dell, HP, Flextronics, and Foxconn, have been granted approval under the PLI scheme for IT hardware. The scheme, which covers laptops, tablets, PCs, servers and ultra-small form factor devices, is expected to fuel incremental investments of about Rs 3,000 crore.

Foxconn under its $2 billion incentive scheme to manufacture IT hardware domestically. Information technology minister Ashwini Vaishnaw said the companies are expected to invest 30 billion Indian rupees ($360 million) collectively, while creating 50,000 jobs in the sector. Approvals have also been granted to domestic manufacturers including Dixon Technologies and VVDN, the minister said.

automation major ABB India reported a robust second-quarter performance, with a 78.3% increase in net profit and 30.6% growth in revenue from a year earlier. While large orders have seen traction and demand from core sectors is expected to remain strong in the medium term, it is the tier-two and -three cities that are bringing in double-digit growth, country head and managing director Sanjeev Sharma tells Kalpana Pathak. Edited excerpts: The quarter has been a good one. What are the reasons for this growth? The quarter has been a solid one where we delivered on multiple fronts and the result of actions undertaken over several earlier quarters.

Haryana government will move the Supreme Court against the Punjab and Haryana High Court order quashing a law that provided 75 per cent reservation in private sector jobs to residents of the state, Deputy Chief Minister Dushyant Chautala said on Saturday. «We are examining the high court verdict and will soon move the Supreme Court,» the JJP leader said in a statement here, asserting that the law was in the interest of the state and the industry.

Dell, HP India, Flextronics India, VVDN Technologies, Netweb Technologies, Lenovo, and 21 others for manufacturing of IT hardware under the second phase of the production linked incentive scheme. These 27 companies have in total submitted proposals for investment of Rs 3000 crore over the next five years, with an incremental production value expected to be around Rs 3.5 lakh crore, Union electronics and information technology minister Ashwini Vaishnaw said.

₹5,000-crore Dharavi Redevelopment Project (DRP), has denied the allegations of favouritism over the Maharashtra government's latest notification on Transfer of Development Rights (TDR). A section of the state's opposition has accused the government of tweaking the TDR norms to allow the Adani group to maximise its profit. The company, in response to the accusation, called it a “mischievous ploy" at the “behest of certain vested interests".

Adani Group on Saturday responded to reports that alleged unfair bidding process of the Dharavi Redevelopment Project. The report highlighted that the Maharashtra government has issued a notification that allows the use of Transfer of Development Rights (TDR) without an indexation. The project spokesperson of Dharavi Redevelopment Project said the baseless and malicious allegations of 'tweaking' and amendments to suit selected bidders’ do not do justice to the regulatory transparency of the process.

Dell, Foxconn, HP and Lenovo under the new IT hardware scheme, Union Minister Ashwini Vaishnaw said on Saturday. Earlier in November, ET reported that government aims to have around 30 applicants to qualify for Rs 17,000-crore production linked incentive (PLI) scheme for IT hardware.

MedAlliance has announced acquisition by Cordis for $1.13 billion. Cordis will play a pivotal role in the marketing, distribution, and global accessibility of MedAlliance's revolutionary Drug-Eluting Balloon, the company said in a statement. MedAlliance has a manufacturing facility in the US and research and development centers in Switzerland and Singapore.

Investment in manufacturing: The Production-Linked Incentive (PLI) scheme is invigorating India's manufacturing sector by strategically targeting 14 key industries, including electronics, automobiles, pharmaceuticals, and more. As a result, early signs of success are evident, especially in the electronics sector.

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single-use plastic ban is “unconstitutional and unreasonable” is generating disappointment for some in the environmental movement.And it is also raising questions about whether the plastic bags, straws and takeout containers listed under the ban could make a comeback.“I mean, we were very disappointed. And this is a real setback to the federal government’s plans to address the plastic pollution crisis,” said Ashley Wallis, associate director with Environmental Defence in Toronto.Both Environmental Defence and Greenpeace Canada are calling on the federal government to appeal the ruling, something Environment Minister Steven Guilbeault said he’s “strongly considering.”But where do things go from here?The court challenge was brought forward by a group called the Responsible Plastic Use Coalition (RPUC), made up of plastic producers including Dow Chemical and Imperial Oil.They successfully argued that the May 2021 cabinet order classing “plastic manufactured items” as toxic substances under the Canadian Environmental Protection Act (CEPA) was too broad.In a statement, the RPUC said it is glad that the court upheld the provisions of the CEPA and believes industry and the government can work collaboratively to reduce plastic waste.This classification allowed Ottawa to ban a wide variety of single-use plastics because under the CEPA, the federal government can ban toxic substances.With this classification retroactively overturned, does it mean single-use plastics like bags and straws will come roaring back?Not likely, it seems.Two of Canada’s major grocers, Loblaws and Metro, both tell Global News they will not be bringing back plastic shopping bags.“No.

Tata Technologies IPO: The initial public offering (IPO) of Tata Technologies Ltd is going to hit Indian primary market on 22nd November 2023 i.e. on Wednesday next week. The Tata group company has fixed Tata Technologies IPO price band at ₹475 to ₹500 per equity share.

Olectra Greentech. The stock, which was trading at ₹497 per share at the start of the year (2023), has witnessed an astounding surge of 141% to trade at the current level of ₹1,196.

But first, let’s talk about career identity. Are you “in finance” or “in HR” or “in marketing?” We often get stuck in a mindset that what we trained for, or ended up in, defines us. Our work becomes our working identity. This would be all well and good if there was job security in it. However, this is far from the case these days.

commonly used drugs are spanning the country and aren’t expected to resolve until at least the new year, causing both pharmacists and patients to search for alternative solutions.The persistent shortage of Lenoltec No. 4, the generic version of Tylenol 4 (also known as T4s), along with Ozempic, a widely-used drug for Type 2 diabetes, has lasted for several months.

The U.S. Food and Drug Administration is screening imports of cinnamon from multiple countries for toxic lead

The Tennessee Titans will be moving to a new stadium for the 2027 season

Honda is recalling nearly 250,000 vehicles in the U.S. because bearings can fail, causing the engines to stall and increasing the risk of a crash