Sustainability Financial News

The Sam Bankman-Fried founded FTX and its sister company Alameda Research have been ordered by a New York judge to pay $12.7 billion to creditors, effectively ending a nearly two years long lawsuit from the Commodities Futures Trading Commission (CFTC).

Cardano has dipped by 1% today, falling to $0.3335 as the crypto market as a whole loses 0.5% in the past 24 hours.

Pharma India on Thursday said its net loss stood at Rs 12 crore for the first quarter ended June 30, 2024. The drug maker had reported a net profit of Rs 54 crore in the April-June quarter of last fiscal. Total income stood at Rs 396 crore for the June quarter against Rs 303 crore in the year-ago period, AstraZeneca Pharma India said in a regulatory filing.

As part of a commitment to follow through with her predecessor Jeremy Hunt's plans to clampdown on the sustainable ratings industry, Reeves will introduce the bill next year. In his Spring Budget earlier this year, the previous chancellor committed to regulating the sector in order to provide greater due diligence and transparency on how to create the ESG criteria that are used to assess companies.  Since taking over in Number 11, Reeves has requested the Treasury to «respond quickly» to an industry consultation on a fresh ESG regulatory regime, according to a Treasury spokesperson. ...

₹1,222 crore in the June quarter (Q1FY25). However, this robust growth was mainly due to the consolidation of the Thailand business. The acquisition, completed in January, added 283 Thailand KFC stores to Devyani’s portfolio back then.

In its half-year results today (8 August), the trust explained SDR restricts the use of certain sustainable terms in products accessible to retail investors, effective from December 2024. IHR added: «The word ‘Impact' is specifically proscribed unless the primary aim of the business is social impact, as measured by a high threshold of reporting requirements. „To avoid confusion and to comply with these new requirements, the company will change its name in the coming months and will provide further details in due course.“ 'Not easy but doable': The implications of adopting an SDR la...

As part of a commitment to follow through with her predecessor Jeremy Hunt's plans to clampdown on the sustainable ratings industry, Reeves will introduce the bill next year, according to a report by the FT. Spring Budget 24: Treasury confirms regulation of ESG ratings In his Spring Budget earlier this year, the previous chancellor committed to regulating the sector in order to provide greater due diligence and transparency on how to create the environmental, social and governance criteria that are used to assess companies.  In rating ESG of organisations, there are a plethora of a...

₹560 at 11:15 IST, a dip of 1.03% from the market opening price, ahead of the unaudited financial Q1 results today for 2024-25. According to stock market experts, the railway sector company is expected to declare strong Q1 results in 2024 on Thursday, as infrastructure sector companies are expected to deliver solid quarterly numbers.

chic midlife appearance, the Danish way is more innovative than the classic French style. Danish fashion is sophisticated yet functional, so it's perfect for a variety of occasions, from cycling to attending formal events. With brands like By Malene Birger, Stine Goya, Birger Christensen, and Ganni, Danish fashion provides a combination of casual and sophisticated designs as Copenhagen Fashion Week gets underway, as per the reports of Yahoo life. Age-inclusive fashion Danish fashion caters to all ages, proving that style isn’t limited to younger generations. Denise Christensen, CEO of Birger Christensen Collective, highlights how Danish women, regardless of age, manage to look chic and refined. At 50, Christensen curates her wardrobe with pieces from REMAIN, ROTATE, Saks Potts, and Aiayu. She notes that Danish fashion reflects a sporty and casual simplicity, which is flattering and versatile. Capsule wardrobe essentials

It’s been rough sledding for the S&P 500 in the past month. The benchmark index is down over 4 percent as questions about the strength of the economy have begun to rein in those rampaging bulls.

Jio's share in the overall data traffic in India increased to about 60 per cent in 2023-24, according to the annual report of parent firm Reliance Industries Limited. Jio's ahead-of-the-curve investments in next-generation network and digital technologies would sustain a competitive edge and market share gains, it said and added this will ensure strong and consistent shareholder return over the coming years. In the annual report, Reliance Industries' Chairman and Managing Director Mukesh Ambani said Jio turned a «Data Dark India» into a «Data Rich» nation with affordable, high-speed 4G data, and followed it up with a 5G network rollout across India in world-record time. According to the annual report, the rollout of the next-generation fixed wireless networks would catalyse demand for high-speed fixed broadband. Rural areas are expected to see a higher uptake of these services due to limited last-mile infrastructure currently.

Food that goes uneaten at the Paris Olympics is helping those in need around the French capital

Fresh talent hiring increased 11% from a year earlier in July, with the index rising from 268 to 298, despite falling 1% sequentially, according to the foundit insights tracker (fit), a monthly analysis of online job posting activity. “We have also noticed that the salaries of employees have consistently risen, driven by higher demand for fresh talent and competitive salary offerings. This growth is likely fueled by high-growth sectors such as technology, digital marketing, and e-commerce,” said Sekhar Garisa, CEO, foundit, a Quess company.

Xpheno. The employment market in the first three months of the calendar year touched a 2-year high of 340,000 open positions at end March, shows the data curated from LinkedIn, Naukri.com, Indeed, Shine.com, among others. The number of active openings in July is a 4% degrowth over July 2023 and a 10% degrowth over July 2021, according to the data of white collar vacancies for professionals with one year of experience and above.

Narendra Modi urged the private sector to step up its efforts in job creation and investment. Earlier this year, Nirmala Sitharaman had admonished the private sector for not scaling up investment, despite a generous corporate tax cut in 2019. A similar warning was sounded in FM's latest budget speech to states when she informed them that exclusive dependence on the Centre for large infrastructure projects was untenable because of the impact on the cost of borrowing on borrowers down the line. The appeal, admonishment and warning stem from a similar concern. GoI can't be expected to run the economy single-handedly without participation by all stakeholders. It should be an 'enabler' by making contributions on the supply side through improved physical infra, investing in human capital and through better governance to improve the ease of doing business. Addition of permanent assets in a country is commonly measured as gross fixed capital formation (GFCF), typically stated as a percentage of GDP. GFCF normally rises during periods of sustained economic growth and is lower when the economy slows. In the Indian context, GFCF as a share of GDP rose between FY04 and FY08, peaking at 37.5% of GDP in FY08.

Stockdale Paradox'. This paradigm introduced by Jim Collins in his book 'Good to Great', is named after Admiral James Stockdale, a highly decorated US military officer who survived over seven years as a prisoner of war during the Vietnam War. Stockdale's unique approach to enduring brutal captivity, combined unwavering faith that he would eventually be freed with a stark acceptance of his harsh reality. This duality forms the essence of the paradox: one must retain faith in eventual success while confronting the brutal facts of one's current situation. Various spiritual traditions emphasise the importance of faith, whether in a higher power, the universe's inherent goodness or life's ultimate purpose. The paradox aligns with these traditions by encouraging unwavering faith that transcends immediate suffering. This faith provides spiritual resilience, much like how Stockdale's belief in his eventual release sustained him.

What's Sustainable Jewellery? Sustainable jewellery refers to pieces made from ethically lab-grown materials, crafted with minimal environmental impact. «Consumers today are increasingly conscious of the origins and production methods of the items they buy. This awareness extends to jewelry, where the demand for transparency and ethical practices is rising. Brands are responding by ensuring that their sourcing methods are eco-friendly and their production processes reduce waste and pollution,» said Nimesh Jain, founder of Evol Jewels, a sustainable and personalized jewelry brand.

India's per capita net national income (NNI) for 2022-23 stands at Rs 1.7 lakh. Despite this impressive growth, the perceived increase in wealth is not universally experienced due to persistent disparities in wealth distribution. Workforce Struggles “Despite growing towards lower levels of poverty, India is alarmingly moving towards a struggling working class at risk of falling into poverty. The latest joint report of ILO and IHD indicated that between 2012-2022, the average monthly real earnings of regular salaried workers declined by 1 percent each year, pointing towards poor-quality employment,” Chandra Shekhar, Partner, Posterity Consulting said. Consumption Patterns and Inflation As per a TOI report, the consumption pattern of India is similar to that of the US in the 1960s. The share of India’s domestic consumption to GDP was around 60% in 2022. As per the report, the Indian population spent nearly 30 percent of their income on food, followed by transportation, housing, and then on clothing, education, health, etc. In comparison, the US spends nearly 50 percent of their income on services, followed by healthcare, housing, and then food.

interest rates have stayed steady since the end of 2023, showed Knight Frank India’s Affordability Index. Among key cities, Ahmedabad has emerged as the most affordable housing market with an Equated Monthly Instalment (EMI) to income ratio of 21% for an average household. Following closely are Pune and Kolkata, each with an EMI to income ratio of 24%. Mumbai was the only city that remained marginally higher than the threshold at 51%. “Stable affordability is essential to sustaining homebuyer demand and sales momentum, which, in turn, acts as a key economic driver for the country. As income levels rise and economic growth strengthens, end-users’ financial confidence is significantly bolstered, encouraging them to make longer-term financial commitments toward asset creation,” said Shishir Baijal, CMD, Knight Frank India.

Nitin Gadkari highlighted in Rajya Sabha on Wednesday that within the next five years, India's aviation industry will use 20 per cent of Bio-aviation fuel. «Within five years our aviation industry will use 20 per cent of bio-aviation fuel, sustainable aviation fuel and that is to be starting it from parali (Stubble) and the farmer will get the rate of Rs 2500 per ton for it» said Gadkari during a reply in Rajya Sabha. The minister also highlighted that now the highway ministry is using bio-bitumen in the construction of roads which is helping India in reducing the imports of the Bitumen. Bio-bitumen is a bio-based binder derived from renewable sources like crop stubble and is used to bind the surfaces of paved roads.

residential sales across India’s top seven cities are expected to witness double digit growth in 2024-25. The area sold in Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Bengaluru, Hyderabad, Pune, Kolkata, Chennai is likely to increase 10-12% to 785-800 million sq ft in the current financial year, on a high base of 2023-24, said ratings agency ICRA. Despite the moderation in the sales growth rate, the overall sales velocity, collections, and inventory position are estimated to remain healthy in 2024-25. The launches are expected to rise 12% on-year to 767 million sq ft in the current financial year, on an aggregate basis across the top seven cities, supported by decadal low inventory, comfortable years-to-sell (YTS, calculated as unsold inventory/sales in last 12 months) and healthy demand.