Provident Financial News

3M and plaintiffs attorneys are nearing a settlement that would resolve hundreds of thousands of claims by veterans that earplugs made by the company and a subsidiary failed to protect them from hearing loss. Under the terms being discussed, 3M would pay about $5.5 billion, people close to the discussions said. Negotiations are continuing, they said, and the final amount hasn’t been established yet.

China have agreed to launch an export control enforcement information dialogue and a new formal working group on commercial issues, the U.S. Commerce Department said on Monday, giving Beijing a potential forum to express concerns. After meetings between U.S.

Netflix has pulled back the curtain on its upcoming biographical film «Rustin» with the release of an evocative teaser trailer and poster. The film, starring the Emmy Award-winning Colman Domingo, sheds light on the life and contributions of Bayard Rustin, a pivotal figure behind the historic 1963 March on Washington.

fraudsters that would make information accessible in real time to all the banks to prevent digital frauds and provide faster resolution of such issues, people familiar with the development said. They have initiated discussions with the Reserve Bank on the proposed portal, they said. A senior bank executive aware of the developments said the portal will help lenders connect seamlessly on such fraud cases and stop and trace funds being transferred from one account to multiple accounts. «In most cases of digital fraud, money is transferred into multiple accounts spread across various banks and financial entities. This becomes too difficult to trace at times, leading to delays.

BPCL) on Monday said it will spend around ₹1.5 lakh crore in the next five years, towards its transformative initiative, 'Project Aspire'. As part of Project Aspire, the oil marketing company will not only grow its oil business but also expand its renewable energy portfolio as it aims for a 2040 net-zero goal, chairman and managing director G Krishnakumar said at its 70th annual general meeting. «The company has set a planned capex outlay of around ₹1.5 lakh crore in the next five years, which will enable BPCL to create long-term value for our stakeholders while preserving our planet for future generations,» Krishnakumar said at the meeting. Krishnakumar also said BPCL would invest ₹1 lakh crore between now and 2040 for projects including green hydrogen, carbon capture, utilisation, and storage (CCUS) and on improving energy efficiency to cut emissions. BPCL will also invest ₹10 lakh crore to set up 50 megawatts of captive wind power plants for its 240,000 barrels per day (bpd) Mumbai refinery and Bina refinery in central India. The company hopes to own 1 gigawatt (GW) of renewable energy capacity by 2025 and 10 GW by 2040. Bharat Oman Refineries' merger with BPCL has provided a significant boost to refining capabilities of the company, Krishnakumar said, adding that BPCL is expanding the capacity of its Bina Refinery from 7.8 MMTPA to 11 MMTPA, thereby securing its markets in northern and central India. The capacity of the Bina refinery after the expansion will be around 220,000 barrels per day (bpd). BPCL is also building a Rs 490-billion ethylene cracker at 156,000 barrels per day (bpd) at its Bina refinery. The ethylene cracker will raise the Bina refinery's share of petrochemicals in its business to 8%.

4B Networks founder Rahul Yadav, who was booked by the Mumbai Police in a cheating case, has filed an anticipatory bail application (ABA) before a sessions court on Monday. The city police’s Economic Offences Wing (EOW) probing the matter opposed the ABA, contending that Yadav failed to join the investigation on at least two occasions. An intervention application was filed by the complainant.

NEW DELHI : Leading global and domestic manufacturers have shown interest in the new production linked incentive or PLI scheme for IT hardware, said ministry of electronics and information technology secretary Alkesh Kumar Sharma. “About 58 registrations have taken place. The response has been good.

NEW DELHI : The Netherlands is in talks with Indian health officials to try and understand the playbook of the country’s two flagship health schemes—Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) and Ayushman Bharat Digital Mission (ABDM). Dutch officials visited the offices of the National Health Authority (NHA) last week against the backdrop of plans by the Netherlands to roll out a digital genetic passport for Dutch citizens that aims to identify citizens by their susceptibility to hereditary diseases, an Indian official said.

By Luc Cohen

By Brendan Pierson

Last week, everyone had their eyes fixed on what Jerome Powell would say at the Jackson Hole event. The big question was whether he'd once again try and sound cautiously hawkish.

reliance on some kind of surveys, they do not eliminate their need in many other areas. Most large economies depend on detailed questionnaires sent to businesses to track changes in business activity and economic parameters. Adding these questions in regular administrative forms can raise compliance costs, especially for small firms.

Singh Mann on Monday said domestic flights from the Adampur airport in Jalandhar will resume soon.

Rajasthan Chief Minister Ashok Gehlot has approved an increase in minimum wages for labourers by Rs 26 per day. This increase, which would be effective from January 1, 2023, comes just a few months before the state elections.

G20 Sherpa Amitabh Kant on Monday stressed on the need to boost crop productivity through adoption of new cutting-edge technologies and said the farm sector should be made smart and adaptive to climate change. Kant was speaking at the G20 India Agri-tech Summit 2023 held here. For higher economic growth of India, he said, «India needs to grow in the agriculture sector.

Centre's submission on pleas challenging the abrogation of Article 370 that the Constitution of Jammu and Kashmir is «subordinate» to the Indian Constitution, which is on a higher pedestal.

Bharat Petroleum Corp (BPCL) on Monday said it will spend around Rs 1.5 trillion, in the next five years, towards its transformative initiative, 'Project Aspire'. As part of Project Aspire the oil marketing company will not only grow its oil business but also expand its renewable energy portfolio as it aims for a 2040 net-zero goal, Chairman and Managing Director G Krishnakumar said at its 70th annual general meeting. «The company has set a planned capex outlay of around Rs 1.5 trillion in the next five years, which will enable BPCL to create long-term value for our stakeholders while preserving our planet for future generations,» Krishnakumar said at the meeting. Krishnakumar also said BPCL would invest Rs 1 trillion between now and 2040 for projects including green hydrogen, carbon capture, utilisation, and storage (CCUS) and on improving energy efficiency to cut emissions. BPCL will also invest Rs 10 billion to set up 50 megawatts of captive wind power plants for its 240,000 barrels per day (bpd) Mumbai refinery and Bina refinery in central India. The company hopes to own 1 gigawatt (GW) of renewable energy capacity by 2025 and 10 GW by 2040. Bharat Oman Refineries' merger with BPCL has provided a significant boost to refining capabilities of the company, Krishnakumar said, adding that BPCL is expanding the capacity of its Bina Refinery from 7.8 MMTPA to 11 MMTPA, thereby securing its markets in northern and central India. The capacity of the Bina refinery after the expansion will be around 220,000 barrels per day (bpd). BPCL is also building a Rs 490-billion ethylene cracker at 156,000 barrels per day (bpd) at its Bina refinery.

Ikea expects its Hyderabad store, the first in the country to achieve operational breakeven soon, the company said on Monday without providing the revenue details. Hyderabad store which was opened in 2018 has witnessed a footfall of three million during the last 12 months period against 2.90 million a year before. However, the figures are not comparable as last year and period before that witnessed a lot of movement restrictions due to COVID-19 pandemic. Speaking to media, Ikea India CEO Susanne Pulverer said the firm is exploring different formats of stores in terms of size, to penetrate the market and get closer to people where they live.

Mukesh Ambani said his Reliance Industries Ltd. will expand into wind power equipment with the help of more established firms to boost the conglomerate’s suite of clean energy products. Reliance will partner with “global leaders” in the renewable technology to offer cost-efficient turbines, Ambani told shareholders Monday at the company’s annual general meeting.

Amit Shah on Monday said the three bills introduced in Parliament by the Centre to replace the IPC, CrPC and Evidence Act will ensure no case can continue for more than two years, which will result in elimination of «70 per cent negative energy». Shah was chairing the 26th Western Zonal Council meeting held here in which a total of 17 issues between the states and Centre were discussed, nine of which were resolved, while the rest were kept for monitoring after in depth discussion, a government release said. The Western Zonal Council comprises Gujarat, Maharashtra, Goa and the Union Territories of Daman and Diu and Dadra and Nagar Haveli.

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