Manufacturing Financial News

(Reuters) -Faraday Future Intelligent Electric on Thursday named company insider Matthias Aydt its new global CEO, effective Sept. 29, as the troubled EV maker focuses on boosting production and generating revenue.

Bajaj Auto and Hero MotoCorp have ventured into the 400cc-500cc range with Triumph and Harley-Davidson branding, respectively. TVS Motor Company is also a contract manufacturer for BMW’s highly popular G310R.

free trade agreement (FTA). “The current diplomatic standoff between Canada and India will not help holiday travellers.

Indian Navy, US aerospace manufacturer Boeing has said that the expanded fleet will result in an economic impact of $1.5 billion to the domestic industry in the next decade. The Indian Navy currently operates a fleet of 12 P8I aircraft that are tasked with carrying out long-range maritime patrols in areas of interest extending from the Gulf of Aden to the Sunda strait in Indonesia. The aircraft, equipped with anti-submarine warfare as well as the capability to attack surface ships, are often used in coordination with friendly navies like the US and Australia. Top Boeing executives said that talks are on with the Indian Navy to extend the fleet to 18 aircraft, with additional features. “Boeing has already generated a substantial economic impact amounting to $1.7 billion to support the current P8I aircraft fleet in service with the Indian Navy. We see an expanded fleet bringing in another $1.5 billion,” Dan Gillian, vice president, Boeing Defence said. The US-based company said that it is looking to create more partnerships in India to add value to its global programs, and several Indian companies are now an active part of its international supply chain. “As we respond to the Indian Navy's need for more P8I aircraft, we're actively looking to enhance engineering, manufacturing, and sustainment capabilities in India, for India, and the world, benefiting both Indian and global customers,” Salil Gupte, president of Boeing India said.

AustralianSuper might be trying to spoil Brookfield’s $18.7 billion takeover offer for Origin Energy, but it’s business as usual at the Canadian infrastructure giant.

A multiple myeloma diagnosis can be devastating. Encouragingly, though, the market is getting increasingly crowded with powerful new therapies that can extend patients’ lives. Cell therapy is one particular area of great hope, with clinical data from Johnson & Johnson’s Carvykti driving excitement in the medical field and on Wall Street.

The founder of the small search engine company DuckDuckGo is testifying against Google in the biggest antitrust trial in a quarter of a century

A coalition of 25 governors and the Biden administration are set to announce a pledge Thursday morning to quadruple the number of heat pumps in U.S. homes by 2030

When former President Donald Trump visits Detroit next week, he’ll be looking to blunt criticisms from a United Auto Workers union leadership that has said a second term for him would be a “disaster” for workers

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Treasury yields rose to 16-year highs on Thursday, a day after the Federal Reserve surprised investors by flagging the potential for an additional rate hike, and an expectation for fewer cuts next year. The U.S. central bank held interest rates steady, as was widely expected, and said that its benchmark overnight interest rate may still be lifted one more time this year to a peak 5.50%-5.75% range. It also now expects half a percentage point of rate cuts in 2024.

By Lucia Mutikani

Glenmark Pharmaceuticals will sell 75% stake in its subsidiary Glenmark Life Sciences to Nirma Limited, for Rs 5652 crore, at a price of INR 615 per share, stated a company press release. Glenmark Pharma will own 7.84% in GLS after the divestment.

Reserve Bank of India (RBI) in its September bulletin and expressed concerns over the share of net financial assets by households in GDP declining to 5.1% in FY23 and 7.2% in FY22 from 11.5% in FY21. In absolute terms, net household financial savings added, stood at ₹22.8 trillion in FY21 and it came down to ₹16.9 trillion in FY22 and to ₹13.75 trillion in FY23. The ministry said that in spite of the trend of adding less financial assets to their portfolio than in the year before, it is important to note that households' overall net financial assets are still growing.

Reuters reports Tuesday, citing unnamed sources, that Tesla (NASDAQ:TSLA) has formulated strategies to produce and market battery storage systems in India. According to sources familiar with the matter, the electric automaker has also submitted a proposal to government authorities in an effort to secure incentives for the construction of a factory, all part of Elon Musk's ongoing efforts to establish a presence in the country.

Glenmark Pharmaceuticals announced on Thursday, September 21, that it would sell a 75 per cent stake in its subsidiary unit Glenmark Life Sciences, to Nirma for ₹615 per share for an aggregate consideration of ₹5.651.75 crore. The Mumbai-based drugmaker will continue to own a 7.84 per cent stake in Glenmark Life Sciences with the stake reduction.

₹36 per equity share of face value of ₹10 each. Marco Cables IPO lot size is 3000 equity shares and in multiples of 3000 equity shares thereafter. Marco Cables & Conductors Ltd IPO details A fresh issue of 2,601,000 equity shares totaling ₹9.36 crore and an offer for sale (OFS) component of 2,601,000 shares totaling ₹9.36 crore make up the ₹18.73 crore-worth Marco Cables IPO.

United Auto Workers (UAW) union forces automobile manufacturers to temporarily lay off workers because of shortages of some materials. Initial claims for state unemployment benefits dropped 20,000 to a seasonally adjusted 201,000 for the week ended Sept. 16, the Labor Department said on Thursday.

JSW is in early stage talks with Korea's LG Energy Solution (LGES) about jointly manufacturing batteries in India, two sources told Reuters, as it presses ahead with plans to build electric vehicles locally. JSW held talks with senior LGES executives in Korea earlier this month, proposing a partnership to manufacture battery cells in India for EVs and energy storage, one of the people with direct knowledge of the discussions said. LGES and JSW both declined to comment on any discussions.

Alkem Laboratories Ltd. on Thursday said it will brand its active pharmaceutical ingredients (APIs) business as Alkem Activa.

India, September 21, 2023: VK Packwell, India and China's ONLY patent-holding ISI mark water carrying flexible-foldable pipes manufacturing company, and India's sole patent-holding ISI mark drip, sprinkler, and micro-irrigation with flexible-foldable pipe manufacturing company, is making waves in the agricultural sector. With a commitment to serving farmers, VK Packwell has already impacted the lives of more than 71,00,000 farmers and counting. One of the most remarkable aspects of VK Packwell's offerings is their affordability.