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ITC Ltd exceeded market expectations on Monday by reporting a robust 17.5% surge in its standalone net profit for the June quarter, benefiting from reduced expenses. Nonetheless, the company faced challenges as an ongoing prohibition on wheat exports and a more recent ban on rice exports led to a 7.2% decline in standalone revenue for the quarter, which amounted to ₹16,995.49 crore as compared to ₹18,320.16 crore in the corresponding period last year.Renowned for its Gold Flake cigarettes and Bingo chips, ITC Ltd achieved a net profit of ₹4,902.74 crore for the quarter ending on June 30, surpassing the ₹4,169.38 crore recorded a year prior.

People’s Bank of China on Tuesday lowered the rate on its one-year loans — or medium-term lending facility — by 15 basis points to 2.5%, the steepest cut in three years. The move came shortly before the release of July data that showed weak consumer spending growth, sliding investment and rising unemployment.

Indian Embassy beefed up. A large number of police personnel were deployed outside the premises of the Indian embassy, a video posted by news agency ANI showed. This came after Pro-Khalistan groups had planned to stage protests outside the Indian Embassy in Washington DC amid a scheduled Independence Day celebration.

Rep. Roger Williams, R-Texas, discusses the U.S. economy, COVID fraud and the border crisis on ‘Mornings with Maria.’

National Association of Home Builders CEO Jim Tobin explains how local governments have tied up housing construction projects.

Federal Reserve officials close in on the end of their tightening campaign, the debate is shifting from how high interest rates need to go to how long they should stay elevated. Inflation pressures are easing, which could give policymakers room to keep interest rates at or near current levels for the time being. Still, price gains remain well above the central bank's 2% target, making policymakers hesitant to declare victory. Introducing the discussion over how long officials may keep rates steady even if inflation continues to decelerate could help them push back on expectations for rate cuts and allow them to keep putting downward pressure on the economy. «This is the policy dimension that they will likely focus on the most going forward: Not how much higher to take the federal funds rate, but how long to keep it at these levels,» said Brian Sack, a former senior Fed official who earlier this year left D.E. Shaw & Co. after about a decade as head of the investment firm's global economics group. «There's still a lot of scope to tighten financial conditions in that way, if they wanted to.» Fed officials unanimously raised their benchmark rate last month to a target range of 5.25% to 5.5%, the highest level in 22 years. Minutes from that gathering — set for release on Wednesday afternoon — could provide more insight into whether most policymakers believe those increases have already worked their way through the economy or if they still expect to see more effects.

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By Carolina Mandl

A sharp drop for Wall Street capped a day of declines worldwide after discouraging data on China raised worries about the global economy

Stocks closed broadly lower on Wall Street, capping a day of declines worldwide, after discouraging data on China raised worries about the global economy

Videos showing downed power lines apparently sparking some of the early blazes in the Maui wildfires have become key evidence in the search for a cause

NEW DELHI : Vegetables’ contribution to retail inflation surged to a 42-month high in July while that of tomatoes rose to a 65-month high, unexpectedly taking the headline figure beyond the 7% mark for the first time in nearly a year, a Mint analysis showed. One-third (32%) of the total year-on-year (y-o-y) shift in the Consumer Price Index (CPI) in July came from the sharp rise in vegetable prices alone, with more than half of this coming from tomatoes, posing a dilemma for the Reserve Bank of India’s (RBI’s) Monetary Policy Committee (MPC) that has held rates steady since April. On a y-o-y basis, overall retail prices rose 7.4%, vegetable prices rose 37%, and tomato prices tripled last month, data released on Monday showed.

diverse workforce, India's top corporates have only three persons with disabilities ( PwD) for every 1,000 employees on rolls, an ET analysis showed. According to latest workforce data reported by Nifty 50 constituent companies as part of their annual disclosures, only five out of these 50 companies have more than 1% people with disabilities on their rolls, with four of them being public sector companies. To be sure, public sector companies are required to reserve 4% of all jobs for disabled people in compliance with the Rights of Persons with Disabilities Act, 2016 — a target which all the analyzed companies fall short of.

gas companies have grown their super-profitable CNG sales volume at a faster rate in the past two years than the less profitable segment of gas supplies meant for homes. City gas distributors sold 19.4 million metric standard cubic meters a day (mmscmd) of CNG in six months to March 2023, up 51% from October 2020 to March 2021 period, oil ministry data showed. In the same period, the sale of piped natural gas (PNG) meant for cooking at home rose 11% to 2.9 mmscmd.

By Andrea Shalal

Tesla added new lower-range iterations of the Model S sedan and Model X sport utility vehicle to its lineup that cost $US10,000 ($15,460) less than their previous base prices.

There are so many dots on the maps they blur into blobs – each one reflecting trillions of public and private dollars flowing in the U.S. in a nationwide investment

The presidents of 13 universities are elevating free speech on their campuses this academic year, as part of a new nonprofit initiative announced Tuesday

Stocks worldwide are falling as China’s faltering recovery raises worries for the rest of the global economy

Accounts of contestants being forced to strip to their underwear for «body checks” during the Miss Universe Indonesia pageant earlier this month have shocked the world's most populous Muslim-majority nation

By Sarah N. Lynch and Jacqueline Thomsen