Target Financial News

Power Book IV: Force" is returning for Season 2 on Starz. Fans can catch the new episodes of this crime series starting from September 1. «Power» was a successful show on Starz. It followed James Patrick (Omari Hardwick), a New York club owner known as «Ghost,» who was also a significant drug dealer. The story included James having an affair with his former flame Lela, who was secretly a federal prosecutor targeting Ghost. His loyal friend Tommy Egan (Joseph Sikora) also played a part. After the main series ended with James' death, Starz expanded it into a franchise. «Book II: Ghost» continued the story with James' family moving forward, and «Book III: Rise of Kanan» explored the rise of Kanan (Curtis «50 Cent» Jackson) in the drug trade during the 1990s.

Torrent Pharma is cranking up its efforts to put together financing to buy out the promoter family of Cipla, said several people with knowledge of the matter, emerging as a key contender to conclude the largest pharma sector acquisition in the country till date. This includes a likely Rs 8,300 crore ($1 billion) equity infusion from one or more private equity players, they said. Ahmedabad-based Torrent has reached out to several PE funds, including Advent International, Bain Capital, Warburg Pincus and CVC Capital, for a minority stake in a consortium. In addition, it is in talks with domestic shadow banks and mutual funds for Rs 9,000-10,000 crore ($1.1 billion) in share-backed promoter financing. Torrent’s founders, the Sudhir and Samir Mehta family, own 71.25% as promoters. That’s amongst the highest promoter ownership in Indian pharma and they are seeking to use that headroom to dilute equity to raise leverage. They are also in separate discussions with foreign banks — Standard Chartered, JP Morgan, MUFG, Citi and Barclays among others — to raise as much Rs 32,000-35,000 crore (up to $4.23 billion) against the cashflows of the target as acquisition financing. The lenders are expected to revert with funding commitment letters at the earliest, said the sources mentioned above. JP Morgan is also advising Torrent Pharma. Bain, Advent, Warburg and CVC declined to comment.

Navigating growth as demand for sustainable energy storage solutions reaches an all-time high falls squarely onto the shoulders of Brisbane’s Tim Harris.

West Australian Premier Roger Cook will fly to Indonesia with a delegation of mining executives and state ministers working to secure deals with the largest economy in South-East Asia to develop his state’s critical minerals industry.

Plain Facts publishes a compilation of data-based insights, complete with easy-to-read charts, to help you delve deeper into the stories reported by Mint in the week gone by. The Indian economy reported a strong performance in the quarter ended June on the back of services sector growth, while the government announced a price cut of ₹200 on LPG gas cylinders. Maruti Suzuki is planning to invest ₹45,000 crore to boost production.

NEW DELHI : The Indian economy expanded 7.8% in the first quarter of the current fiscal year on higher government and private capital expenditure and strong services growth, official estimates released on Thursday showed. A Mint poll of 22 economists had estimated the growth in gross domestic product (GDP) at around 7.8%. In the fourth quarter of 2022-23, GDP growth stood at 6.1% against a 4.4% growth rate witnessed in the preceding three months, according to data from the National Statistics Office (NSO).

NEW DELHI : India will have to do “more things" to match the UK’s far more open economy as they negotiate a free trade agreement (FTA), UK’s Secretary of State for Business and Trade, Kemi Badenoch said. Badenoch, who was in India for both a G20 trade and investment summit in Jaipur and FTA talks, said the deal will set a “precedence" due to its unique nature.“The UK has a relatively open economy compared to India. So of course, there will be more things that require movements on the Indian side..

Microsoft says it will change the way it sells its Teams videoconferencing service to business customers in Europe in a push to address concerns raised in a European Union antitrust investigation. The software giant said Thursday that it plans to offer business customers the chance to buy a lower-priced version of its productivity suites that doesn’t include the videoconferencing app. New customers would still have the option of purchasing Teams separately if they want the service.

NEW DELHI : The government’s fiscal deficit has crossed ₹6 trillion or a third of the ₹17.9 trillion estimated in the union budget for FY24, data from the Comptroller General of Accounts (CGA) showed on Thursday. Fiscal deficit—the gap between spending and receipts, met through borrowings—stood at 33.9% of the full- year target in July, aided by strong tax and non-tax revenue receipts. Fiscal deficit in the first four months of FY23 was at 20.5% of the full-year target.

NEW DELHI : Highway construction continues to sputter in the slow lane even as the government pushes for a record target showcase progress ahead of the 2024 general elections. According to the ministry of road transport and highways, work has been completed on just 2,670 km of highways in the first four months of the fiscal or just about 20% of a target of building 13,800 km of highways this financial year. The award of road projects has also fallen steeply to 1,125 km from 1,975 km in the same period a year ago, indicating a thinning of the pipeline for projects that would impact construction over a longer period.

Israeli sabotage plot aimed at Iran's ballistic missile production. Several agents involved in the alleged plot have been arrested, according to state media reports. The Iranian authorities claim that the plan involved selling faulty components to Iran that would have led to the destruction of the missiles. The alleged Israeli operation comes amidst a history of tension and hostilities between Iran and Israel, with both nations being engaged in a covert battle of sabotage and accusations.

V. Anantha Nageswaran termed the first quarter GDP growth of 7.8% as a «good number» and said that the government is comfortable maintaining GDP growth target of 6.5% for FY24.

UBS Group outlined major targets for its integration of former rival Credit Suisse, including 3,000 domestic job cuts and more than $10 billion in cost savings, as it posted the biggest ever quarterly profit for a bank on the back of the bargain acquisition that closed in June.

It was such an odd and bizarre miss, that some in the natural gas trade have just taken to calling it  “a fluke” — for those wanting higher prices. 

WASHINGTON (Reuters) — U.S. consumer spending accelerated in July, but slowing inflation strengthened expectations that the Federal Reserve would keep interest rates unchanged next month.

STOCKHOLM (Reuters) — Swedish electric vehicle maker Polestar's operating loss narrowed in its second quarter as the auto industry slowly recovers from pandemic-related supply chain bottlenecks.

(Reuters) — Traders kept bets the Federal Reserve will leave its benchmark interest rate in its current range of 5.25%-5.5% next month after data Thursday showed inflation rose in July as expected, but also continue to price in nearly even odds of one rate hike by year's end.

(Reuters) -A division of Goldman Sachs' transaction banking business (TxB) has stopped signing on riskier financial technology clients after a warning from the U.S. Federal Reserve over risk and compliance earlier this year, the Financial Times reported on Thursday.

Polestar Automotive (NASDAQ:PSNY) reported 2Q EPS of ($0.14), $0.01 worse than the analyst estimate of ($0.13). Revenue for the quarter came in at $685.2 million versus the consensus estimate of $686.4M.

(Reuters) -Dollar General cut its annual forecasts on Thursday after missing Wall Street expectations for quarterly profit and sales, hurt by weaker store traffic and a move to sell more low-margin essentials over discretionary goods, knocking its shares down 17% before the bell.

Following Federal Reserve Chairman Jerome Powell's speech last week that didn't provide any clues regarding monetary policy, investors shifted their focus to macroeconomic indicators.