Manufacturing Financial News

Subscribe to enjoy similar stories. In terms of recent stock-market frenzies, the Ozempic trade nearly tops the list, second only to speculation that artificial intelligence will soon be writing this column. Powerful weight-loss drugs like Wegovy and Zepbound have driven nearly $1 trillion in market-capitalization gains, with most of those gains flowing to Eli Lilly and Novo Nordisk, the dominant players in the obesity-drug market.

Priyanka Gandhi Vadra on Monday said Prime Minister Narendra Modi had ignored the manufacturing sector and job creation, while seeking to promote his friends in the business. The Modi regime was taking away the lands of tribal people and handing them to the PM’s friends in the business, she said addressing campaign rallies in Wayanad where she is contesting the November 13 bypolls as UDF Candidate. All PSUs, road contracts, seaports and airports were being handed to Modi’s friends, she said. “Tribals are the soul of Wayanad.” The AICC leader accused the NDA regime of weakening the Mahatma Gandhi National Rural Employment Guarantee (MNREGA) programme while interacting with women labourers in the plantation regions of Wayanad. She also highlighted her concerns about the programme in her campaign speeches.

Subscribe to enjoy similar stories. Logistics operators with roots in China are taking on more warehouse space across the U.S. amid broad changes in sourcing, manufacturing and global trade flows.

Welspun Corp Ltd (WCL) on Monday said it has bagged two new orders in the US worth Rs 1,300 crore for supplying specialised pipes for natural gas pipeline projects. It aims to execute the order for Helical Submerged Arc Welded (HSAW) pipes in the financial year 2025-26, the company said in an exchange filing. «Our outlook for the USA market remains extremely positive. We have also participated in a few more projects and are favourably placed in additional 1-2 large projects,» the company said. Part of USD 5 billion Welspun World, Welspun Corp is primarily engaged in the business of manufacture and distribution of steel and steel products.

Subscribe to enjoy similar stories. With scant detail on how Beijing aims to stimulate its way out of its economic downturn, some investors have speculated that the U.S. presidential election might prompt the big “bazooka" markets have hoped for.

US Presidential election of 2024 is one the most watched political events of recent times especially as the outcome will have a huge impact on international trade. In the past few decades, many American politicians have talked about attracting manufacturing investment and jobs back to the country after the manufacturing of goods consumed by Americans has spread across the globe and manufacturing jobs have dwindled in the USA. Countries that export substantially to the USA or have been the destination of manufacturing investment in the past three decades are likely to be targets of trade action in the near future. In any case, the countries with whom the USA runs a large trade deficit are on the radar of at least one potential aspirant to the White House. India is one of those countries. The US happens to be the largest destination for Indian merchandise exports. In 2023-24, imports into India from the USA amounted to $42.2 billion, while exports from India were valued at $77.52 billion.

Subscribe to enjoy similar stories. Before Larsen & Toubro Ltd’s (L&T) September quarter (Q2FY25) earnings were out on Wednesday, its shares had fallen by 7% over the previous month. Weak government spending in the first half of FY25 due to the general elections and global geopolitical tensions were anticipated to mar L&T’s order inflows last quarter.

For some television viewers, size apparently does matter

House Speaker Mike Johnson is trying to clarify remarks he made at a New York campaign rally where he suggested that Republicans may try to repeal legislation that has spurred U.S. production of semiconductor chips

Subscribe to enjoy similar stories. There is a fundamental difference between financial investment products and other conventional products we consume. Investments have no ‘product’ with a look and feel.

AM/NS India, a joint venture between ArcelorMittal and Japan’s Nippon Steel, is set to establish an integrated steel project of 17.8 million tonnes capacity, with a proposed aggregate investment of Rs 1.4 lakh crore, in the Anakapalli district of Andhra Pradesh. This would be one of the largest greenfield projects in recent times. In the first phase of the project, ArcelorMittal Nippon Steel will establish a 7.3 million metric tonnes per annum (MMTPA) capacity blast furnace steel plant with an initial investment of Rs 80,000 crore. The company has sought 2,600 acres of land for the first phase. In the second phase, AM/NS will add a capacity of 10.5 MMTPA with an investment of Rs 60,000 crore and has sought an additional 2,000 acres of land. According to government sources, about 1,800 acres of land is readily available adjacent to Nakkapalli bulk drug park and can be provided.

data centre boom globally, in addition to rapid 5G rollouts, is silently propelling the growth of another ancillary industry: Optic fibre cables (OFCs). With top dollar expected to flow into the segment in the next decade, service providers and fibre manufacturers are looking to simultaneously strengthen deployment locally and double down on building capacities and boosting exports. Investment banking firm Avendus Capital expects around $2 billion capital expenditure towards data centre fibre alone over the next decade, with global private equity funds eyeing the India opportunity. Deloitte estimates that overall fibre deployment in India will be 4 million kilometres in 2024, expected to expand at 12- 15% over the next two years. Manufacturers are also looking to harness India’s already established credentials. According to data from the Ministry of Commerce, India’s OFC exports to more than 100 countries in FY24 totalled Rs 39,600 crore. Nearly half of the shipments were to major European nations, including Spain, the Netherlands, Poland, Italy, and the Czech Republic.

Nvidia is replacing Intel on the Dow Jones Industrial Average, ending a 25-year-run for a pioneering semiconductor company that has fallen behind as Nvidia cornered the market for chips that run artificial intelligence systems

Warren Buffett is now sitting on more than $325 billion cash after continuing to unload billions of dollars worth of Apple and Bank of America shares this year and continuing to collect a steady stream of profits from all of Berkshire Hathaway’s assort...

Apple may be contemplating a strategic acquisition of Intel. This comes from the YouTube channel 'Moore's Law is Dead', where Tom S has reported about «whispers» of a potential purchase of Intel by Apple. He claimed that Samsung is also interested in acquiring or merging with the chip manufacturer Intel. This comes as chipmaker Intel faces troubled waters, with profit margin shrinking due to high competition in the manufacturing technology space and little success in the booming market for artificial intelligence (AI) chips. Apple-Intel deal?

Subscribe to enjoy similar stories. Adam Smith would be baffled by microelectronics. When the great economist died in 1790 James Watt’s two-cylinder steam engine passed for the height of technological sophistication.

petrochemical industry is charting a path towards becoming a global powerhouse, integral to the nation’s economic vision of a USD32 trillion economy. This ambitious journey hinges on a dynamic chemical sector, with manufacturing output projected to increase by an extraordinary 50 times, reaching USD6 trillion. This growth will be driven by strategic partnerships, investments in sustainable practices, and innovation across the chemical value chain.

Kamala Harris and former President Donald Trump ramped up their presidential campaigns in Wisconsin, a crucial battleground state. At the campaign event, Harris targeted Trump's economic record, specifically his handling of manufacturing jobs. She further claimed that nearly 2,00,000 manufacturing jobs were lost during Trump's presidency before the Covid-19 pandemic, with thousands of those losses felt in Wisconsin alone. She also labelled «Trump one of the biggest losers of manufacturing jobs in American history.» Addressing the campaign, Harris said, «He (Donald Trump) said that he was the only one who could bring back America's manufacturing jobs. America lost nearly 2,00,000 manufacturing jobs when Trump was president, including thousands of jobs right here in Wisconsin, and let the facts be clear, those losses started before the pandemic. That makes Donald Trump one of the biggest losers of manufacturing jobs in American history.»

Subscribe to enjoy similar stories. New Delhi: Bangladesh, the world’s largest garment producer, has opted to bypass India and ship its textile exports through the Maldives for onward distribution to global markets, hurting the cargo revenue prospects of India’s airports and ports amid strained bilateral ties, according to three people aware of the development. “Previously, Bangladeshi goods were shipped through Indian airports, but now they are rerouting shipments from other locations.

US manufacturing activity slumped to a 15-month low in October and factories faced higher prices for inputs. The Institute for Supply Management (ISM) said on Friday its manufacturing PMI fell to 46.5 last month, the lowest level since July 2023, from 47.2 in September. A PMI reading below 50 indicates contraction in the manufacturing sector, which accounts for 10.3% of the economy. The decline in the PMI could be reflecting a strike by factory workers at planemaker Boeing, which has halted the production of its best-selling 737 MAX as well as 767 and 777 wide-body programs. The labor strife contributed to depressing industrial production in September.

Growth in the Canadian economy remained unchanged in August, putting gross domestic product on track to grow at an annualized rate of just one per cent in the third quarter, Statistics Canada said on Thursday, paving the way for another cut by the Bank of Canada in December.