Manufacturing Financial News

The White House says the dozens of U.S. technology hubs President Joe Biden is announcing will help communities across the country become centers of innovation critical to its competitiveness

A strike by autoworkers against General Motors is expected to cut the automaker's pretax earnings by $800 million this year, and another $200 million per week after that

Qatar Airways Group chief executive Akbar Al Baker is stepping down after 27 years at the helm of the company

Science and Technology Jitendra Singh on Tuesday said that India is now in a position to lead other nations in the space sector and is no longer viewed as a country that is being led by other nations. Union Minister Jitendra Singh on Tuesday unveiled Skyroot Aerospace's new headquarters 'MAX-Q' at GMR Aerospace and Industrial Park in Hyderabad. He is also expected to unveil the Vikram-1 Orbital Launch Vehicle. Speaking to at Skyroot Aerospace's new headquarters, Jitendra Singh said, «Today we are in a position where India is no longer seen as a country that is being led by the other countries. We are now giving leads to other countries, at least in the space sector.» When questioned if Singh sees the opportunity for the private sector in India to have the transfer of technology globally.

(Reuters) — RTX reported a near billion dollar quarterly loss on Tuesday, as the aerospace supplier took a hit due to a major quality crisis at its subsidiary Pratt and Whitney, affecting the popular Geared Turbofan (GTF) engines.

anchor investors, ahead of its initial public offering (IPO). The company has allotted 72.85 lakh equity shares to 22 funds at Rs 346 apiece, which is also the upper end of the price band, according to a circular uploaded on BSE's website late night on Monday. Government Pension Fund Global, BNP Paribas Arbitrage, Societe Generale, Integrated Core Strategies (Asia) Pte Ltd, Aditya Birla Sun Life Insurance Company, ICICI Prudential Mutual Fund (MF), HDFC MF, Nippon India MF, Edelweiss MF and Bandhan MF are among the anchor investors.

Foxconn, saying Beijing should «cherish» Taiwanese companies and not put pressure on them during an election. Foxconn is facing a tax probe in China, two sources close to the company said on Monday, confirming a report in China's state-backed Global Times.

BERLIN (Reuters) — Business activity in Germany contracted for a fourth straight month in October as manufacturing's downturn was matched by a renewed decline in services, a preliminary survey showed on Tuesday, suggesting a recession is well underway.

LONDON (Reuters) — Euro zone business activity took a surprise turn for the worse this month as demand fell in a broad-based downturn across the region, a survey showed, suggesting the bloc may slip into recession.

Global demand for fossil fuels is likely to peak before the end of the decade, with mounting shocks to the global energy system caused by geopolitical uncertainty hastening the move to renewable energy, according to the International Energy Agency. The IEA, a Paris-based group of some of the world’s biggest energy users, said demand for coal, oil and natural gas should all peak this decade, with increasing use of electric vehicles and renewable energy offsetting demand for carbon-based fuel sources.

₹10,000 per kWH of battery for BEVs. Unlike its Japanese counterpart Suzuki Motor, with which it now has a joint manufacturing arrangement in India, Toyota was long content to milk the market for its top-selling Multi Utility Vehicles, premium sedans and high-end SUVs, after failing to make an impact in the affordable hatchback and sedan markets. In fact, close to 39% of its September sales volumes came from rebadged hatchbacks and compact SUVs, including mild hybrids, manufactured by Suzuki.

Investing.com-- Gold prices traded in a mixed range on Tuesday, retaining most recent gains as traders watched for any more developments in the Israel-Hamas war, while focus also turned to a string of key U.S. economic readings due this week.

Investing.com-- Most Asian stocks extended recent losses on Tuesday following weak business activity readings from Japan and Australia, while Chinese markets rebounded from pre-pandemic lows as a state-run fund began snapping up some equities. 

“We remain overweight on sectors that will benefit from economic expansion such as banks, industrials, utilities, defence, real estate, and cement,” says Dr. Poonam Tandon, Chief Investment Officer at IndiaFirst Life. In an interview with ETMarkets, Tandon said: “We are very positive on the infrastructure and real estate cycle as the sector will continue to benefit with the government allocating higher budgets and offering various incentives” Edited excerpts: October is turning out to be a roller coaster ride for investors in equity markets. Will geopolitical concerns have a long-term impact on equity markets if things escalate? Geopolitical pressure is on the rise amid the ongoing war between Russia and Ukraine and now the Israel-Palestine conflict.

BEIJING/SYDNEY (Reuters) — Bain Capital and Chinese industrial real estate developer and operator DNE Group said on Tuesday they formed a joint venture with a $250 million equity commitment, as the U.S. firm looks for investment opportunities in manufacturing park assets in China.

Investing.com-- Oil prices rose on Tuesday, recovering a measure of steep losses as traders continued to seek new developments in the Israel-Hamas war, while a swathe of upcoming readings on business activity also came into focus.

TOKYO (Reuters) — Japan's factory activity shrank for a fifth straight month in October while the service sector saw its weakest growth this year, a survey showed on Tuesday, amid growing uncertainty over the outlook for the world's third-largest economy.

(Reuters) — Cadence Design (NASDAQ:CDNS) Systems forecast fourth-quarter revenue and adjusted profit below Wall Street estimates on Monday, as slower R&D spending by semiconductor firms navigating a tough economy weighs on the chip design software provider.

steel ministry's nod mandatory for imports which have not been cleared by the Bureau of Indian Standards (BIS), a move aimed at a crackdown on substandard goods. The decision comes after the BIS issued a quality control order for a variety of steel products and importers were mandated by the Centre to seek prior quality approval of import consignments which were meant for sale locally. Domestic steel importers said this may reduce imports of steel products which had surged in recent months. India's iron and steel imports stood at 7.68 million tonnes (mt) between April and August, up 59.45% from 4.82 mt a year ago. Under the existing policy, BIS certification is issued to eligible overseas steel mills.

MUMBAI : India’s gold trade is staring at a potential loss of ₹6,000 crore this festival season as authorities clamp down on transport of the precious metal in poll-bound states, an industry official said. Law enforcement agencies have seized gold consignments in Madhya Pradesh, Telangana, Rajasthan and Chhattisgarh, major consuming centres of gold where the model code of conduct is in place.

NEW DELHI : JSW Steel Ltd, India’s second-largest maker of the alloy, plans to establish a green steel manufacturing facility by 2030 as part of its response to the European Union’s (EU’s) Carbon Border Adjustment Mechanism (CBAM), said Jayant Acharya, joint managing director and chief executive. “We are looking to set up a lower carbon-emitting facility for steel in the western part of India, subject to board approval. With this, we will be able to provide low-carbon steel for both the international and domestic markets," Acharya said in an interview.