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Briefing occurred Tuesday in Renton, Washington, detailing «defect» from supplier.

The lender's credit cost, which signals the share of provisions as a percentage of on-book loan portfolio, jumped to 3.38% for the quarter under review against 0.88% a year back. Its gross non-performing assets ratio rose to 5.46% at the end of June from 3.2% a year back.

telecom regulator has asked service providers and telemarketing companies to take immediate action against enterprises indulged in bulk calling through 10-digit numbers and deploy technical solutions which can trace and block such calls. ET has reported last week that the Telecom Regulatory Authority of India (TRAI), on July 24, directed all telecom firms to submit data around unregistered telemarketers, against whom maximum complaints have been registered by consumers in the April-June quarter. Telecom consumers receive lakhs of robocalls everyday by unregistered entities or telemarketers. Such calls bypass the system as these entities use a normal 10-digit numbering series and not the one assigned for telemarketing, say officials.

Power Finance Corporation on Tuesday posted over 20 per cent rise in its consolidated net profit to Rs 7,182.06 crore in June 2024 quarter compared to a year ago, mainly due to higher revenues. The company reported a consolidated net profit of Rs 5,982.14 crore in the quarter ended on June 30, 2023, a regulatory filing showed. Total income rose to Rs 24,736.68 crore in the quarter from Rs 21,017.81 crore in the same period a year ago.

recession in the US have contributed to the collapse in equity markets. Major US stock indexes fell sharply on Monday. The Dow Jones Industrial Average fell 986.88 points, or 2.48 per cent, to 38,750.38, the S&P 500 lost 152.23 points, or 2.85 per cent, to 5,194.33 and the Nasdaq Composite dropped 563.51 points, or 3.36 per cent, to 16,212.65.

Grihum Housing Finance, formerly Poonawala Housing Finance, reported a net profit after tax of Rs. 48 crore for the first quarter of this fiscal, up 77% on year. The housing finance company has assets under management of Rs. 8,700 crore, up 33% on year. “Our organisation now serves more than 80,000 customers. The Company is proactively aligned with regulators and financial institutions, and we have registered stable growth”, said Manish Jaiswal, Managing Director and Chief Executive Officer of Grihum Housing Finance Limited.

Eight funds were red flagged on this metric, but only two are having their OCF's capped in a bid to resolve the issue on a fund-by-fund basis. The CT North American Equity fund currently has an OCF of 0.9%, according to its latest factsheet, but this will now be capped at 0.86%. The CT Select European Equity has an 0.82% OCT presently and will be capped at 0.91%. Columbia Threadneedle overhauls UK retail multi-manager team as Burdett exits Both changes will become effective from 1 December 2024. Elsewhere in the report, the firm pledged to clarify the objectives of the CT Sus...

prison capacity to help tackle violent, week-long anti-immigrant riots that have prompted a growing number of countries to warn their citizens about the dangers of travelling in Britain. Riots across a number of towns and cities have erupted following the murder of three girls at a Taylor Swift-themed event in Southport, a seaside town in northern England, after false messaging on social media wrongly identified the suspected killer as an Islamist migrant. The Justice department, which is being forced to release some prisoners early as it battles a jail overcrowding crisis, said nearly 600 prison places had been secured to accommodate those engaged in violence.

Zika virus infection have been reported in Pune city in the last two months, civic officials said on Tuesday. Four of these patients died, but the cause in each case was not the Zika infection, a senior health official told PTI. Those infected also included 26 pregnant women but most of them are in good health, an official statement said. The first case of Zika virus infection in the city this year was reported on June 20 when a 46-year-old doctor in the Erandwane area tested positive. Subsequently, his 15-year-old daughter too tested positive for the infection. «The 66 cases include four deaths, but these deaths were not due to Zika but comorbidities the patients were suffering from....such as cardiac issues, liver ailments, old age. Their reports came positive for the virus from the NIV (National Institute of Virology) after death,» the health department official said. These four patients were aged between 68 and 78. The Pune Municipal Corporation's health department would, nonetheless, send their reports to the death audit committee of the Maharashtra government, the official added. «So far, no death due to Zika has been reported in the country,» he said.

Bangladesh Army on Tuesday announced a major rejig in its top-level ranks, according to local media reports. This comes after the country's President Mohammed Shahabuddin dissolved the parliament, a day after Prime Minister Sheikh Hasina resigned and fled the country. Hasina's exit came after hundreds of people were killed in a crackdown on demonstrations that began as protests against preferential job quotas and swelled into a movement demanding her downfall. General Waker-Uz-Zaman, Bangladesh's army chief, announced Hasina's resignation in a televised address and said an interim government would be formed.

Ramdas Athawale on Tuesday asked Maharashtra Navnirman Sena president Raj Thackeray to withdraw his «anti-reservation» remarks or else Dalits and backward classes will boycott MNS candidates in the upcoming Maharashtra assembly elections. Athawale said Thackeray's remarks on reservations were uncalled for. Speaking to reporters in Pandharpur town, Thackeray on Monday said local people should be given priority in job opportunities. «My stance is that locals should be given priority in job opportunities. Why should caste be a factor in this? If the private sector continues to create jobs, we should think about how many people will benefit from reservation in government jobs,» the MNS chief had said.

In its half-year results published today (6 August), the FTSE 250 asset manager reported adjusted pre-tax profits of £187m, ahead of analyst consensus of £162m. This compares to a £169m pre-tax loss reported in the same period last year. Total net outflows slowed from £4.4bn a year earlier to £1.6bn. Including liquidity products, the firm returned to positive territory with £800m net inflows, compared to £5.2bn net outflows in the first half of last year. abrdn: The journey from Europe's second-largest fund manager to the FTSE 250 abrdn's investments arm suffered £3.4bn net outf...

MUMBAI : A key striking feature of Britannia Industries Ltd’s June quarter results is its high single-digit volume growth, estimated at 8% year-on-year, a multi-quarter high. However, pricing was weak, so revenue growth has lagged volume growth yet again. Britannia’s consolidated operating revenue increased by 4% year-on-year in the three months ended 30 June (Q1FY25) to ₹4,130 crore as pricing declined.

Circle Squared Alternative Investments' Jeff Sica argues there's a problem in the credit market as he weighs in on the market selloff.

Global crypto exchange behemoth Binance is reportedly facing goods and service tax (GST) issues in India, according to sources.

MUMBAI : A profit of ₹1,878 turned into a penalty of ₹1 lakh. This harsh reality encapsulates the high-stakes world of insider trading. Sudhir Bapusaheb Devkar, an IT department employee at Mindtree, found himself on the wrong side of the law when a seemingly harmless trade in his employer’s stock spiralled into a financial nightmare.

Also Read: In charts: Big shifts in India’s jobs market in last 40 years Since the youth prefer the stability of salaried employment, and also show a desire to find such opportunities in or around their village, it’s important to bring the economy to the people and create opportunities for aspirational migration, the report said. India’s rural labour market is still dominated by agriculture, employing 49% of male workers and 76% of the female workers, according to the government’s 2022-23 Periodic Labour Force Survey.

Sheikh Hasina arriving in India, a video of popular YouTuber Dhruv Rathee, shared by BJP spokesperson Shehzad Poonawalla, went viral on social media. In the video, Rathee praised Bangladesh for its development and happiness index. Poonawalla shared the video on X with the caption “Joker of the century!”

In its latest Assessment of Value report, the firm flagged 19 share classes belonging to the respective funds, with the leading cause being underperformance. In most cases, performance was assessed on a five-year basis, with Quilter's own analysis highlighting that the market woes at the beginning of the Covid pandemic were still dragging on performance in some cases. The Quilter Investors Global Unconstrained Equity; Europe (ex UK) Equity Income; Global Equity Value; Precious Metals Equity; UK Equity 2 and UK Equity Growth were all red flagged by the firm. Quilter Investors hires ...

Indian consumers prefer human customer service support when shopping online, according to an EY report. While 61% consumers find AI driven product recommendations extremely beneficial, data breaches are the primary cause for concern among Indian online shoppers. 84% consumers have made purchases based solely on the recommendations or promotions of influencers as per the recent EY Future Consumer Index (FCI), which included responses from 1,000 Indian participants within a worldwide poll.

Havells India Ltd. traded 0.87 per cent higher in Tuesday's session at 01:19PM (IST). The stock opened at Rs 1761.25 and has touched an intraday high and low of Rs 1810.75 and Rs 1761.25, respectively, during the session so far. The stock quoted a 52-week high of Rs 1986.55 and a 52-week low of 1233.1. About 7,677 shares changed hands on the counter so far.