Track Financial News

Strategy consulting firm McKinsey has admitted to 15 workplace misconduct complaints in the past five years at its Australian offices, including one of sexual harassment, and says it has settled a discrimination claim from a fired employee.

Indiabulls Housing Finance has repaid ₹2,232 crore of external commercial borrowings (ECBs) raised in 2018 from Barclays, Japan's MUFG and Sumitomo Mitsui Banking Corp, Taiwan's CTBC and Australia and New Zealand Banking Group (ANZ), bringing to an end a deleveraging process the company started after IL&FS had foundered in 2018. Chief executive Gagan Banga said with the repayment on Thursday, the company has repaid all of its $3 billion foreign currency borrowings availed of in the last few years and will now shift focus to growing its assets under management (AUM). «From here on our debt repayments are merely ₹400 crore to ₹700 crore a month. This will be more than comfortably covered by repayment from the loan portfolio.

Reliance Industries announced on Thursday that it has entered into an understanding with The Oberoi Hotels and Resorts (Oberoi Group) to jointly manage three properties across India and the UK. The company said these properties include the upcoming Anant Vilas Hotel in Mumbai’s Bandra Kurla Complex (BKC), the Stoke Park in the UK, and another planned, unnamed hotel project in Gujarat. The company said Anant Vilas Hotel in Mumbai has been conceived as the first metro-centric property as part of the luxury ‘Vilas’ portfolio run by The Oberoi Group. Anant Vilas is located in the business district of Bandra Kurla Complex in Mumbai which is becoming a mixed use destination with business, hospitality, shopping, F&B, arts and culture, educational and residential uses. Stoke Park Limited, a subsidiary of Reliance Industries, owns sports and leisure facilities in Stoke Poges, Buckinghamshire.

Wall Street is really suffering through the dog days of August.

Boat and Noise are chasing premium fitness enthusiasts with smart rings, a relatively new form factor of wearable that's smaller in size and can be worn at all times in a fresh bet on premiumisation on the back of its existing user base. This even as they continue driving down average selling prices of smart watches and frenetically refreshing their portfolio to capture a larger pool of users. «For the last three years, there were mostly first-time buyers, now people are educated about what wearable devices do, and we believe it's the right time to move to better devices,» said Noise co-founder Amit Khatri. Co-founder Sameer Mehta said Boat has imported a small batch of 5,000 units for the first sale and is readying distribution, forecasting shipments of 50,000-100,000 units in the first year, depending on how people perceive its value proposition of enhanced wellness tracking. «We have been experimenting with how big a market this can get, and the initial response has been great. There are a lot of users who are on their second watch, and this could be their third purchase,» Mehta said. While Noise did not disclose exact numbers, co-founder Amit Khatri said they have stopped taking pre-orders for the product after receiving large volumes since opening for pre-orders. The expansion into smart rings comes on the back of strong 53.3% on-year growth in wearables in the first half of 2023, according to IDC.

₹200 crore. While a child can use an internet platform once a parent provides consent, the platform is completely prohibited from tracking and monitoring the behaviour of child users, irrespective of the purpose for which such data processing is to be conducted.

New Delhi: India, which is registering fastest economic growth among top five global economies, is on track to become the third largest economy, finance secretary T.V. Somanathan said on Thursday. India is currently the fifth largest economy behind the US, China, Japan and Germany.

Transparency matters, especially where investor money is concerned. But, not all fund houses are transparent about all their decisions. In March, market regulator Securities and Exchange Board of India (Sebi) shot off a show-cause notice to L&T Mutual Fund, seeking justification for some of its fund management decisions.

By Abigail Summerville

Stocks are slipping on Wall Street, despite a blowout profit report from one of its most influential companies, after a couple mixed reports on the U.S. economy

The average long-term U.S. mortgage rate climbed further above 7% this week to its highest level since 2001, another blow to would-be homebuyers grappling with rising home prices and a stubbornly low supply of properties on the market

Even those who aren’t steeped in the finance industry can probably call up a visual image of an old-school stock ticker, generating lengths of white tape to help investors stay on top of stock market transactions and developments. Today, these have been supplanted by up-to-the-moment digital trackers. In similar fashion, the crypto industry has blockchain explorers, which offer users real-time tracking of not only their own transactions, but also everything happening on the blockchain.

Congress on Thursday shared several photographs of Jawaharlal Nehru and Indira Gandhi with doyens of India's space programme such as Vikram Sarabhai to highlight the continuity in the country's progress in the sector.

Perpetual chief executive Rob Adams has moved to consolidate control of the enlarged investment manager as he unveiled a “refreshed strategy” following its acquisition of rival Pendal.

Mother Nature is playing a double game with the natural gas market. The question is, which one will win?

Cynergy BPO, a company deeply rooted in understanding the trifecta of technology, customer experience (CX), and streamlined operations. India's strength in ecommerce BPO isn't merely a function of its vast talent pool. It's a harmonious blend of advanced technological ecosystems, an ingrained service mindset, and the capability to manage intricate back-end operations, all while ensuring a seamless front-end customer journey.

HDFC Bank continues to be stable even as many of its peers are facing challenges, a senior official said on Thursday. The bank is witnessing «good traction» on the Unified Payments Interface (UPI) for credit cards, its head for payments business and consumer finance Parag Rao told reporters here. «We have not seen any rise (in defaults) or any stress in our portfolio.

yields were off their lows to end little changed on Thursday as the impact from a fall in U.S. yields was offset by caution before the release of the Reserve Bank of India's policy minutes as well as debt supply. The benchmark 7.26% 2033 bond yield ended at 7.1963% after ending the previous session at 7.1927%.

GST billing software. This article comprehensively explores the pros and cons to understand its impact on businesses. The GST (Goods and Services Tax) billing software is a specialized tool crafted to aid businesses in creating and overseeing invoices while also managing different facets of taxation and compliance associated with GST.

reliance on imported chips and strengthen domestic manufacturing to better compete with China. Meeting those goals will hinge not only on drawing the world’s biggest chip manufacturers to the U.S., but also recruiting and developing the technical expertise to build and operate the new plants. In Arizona, however, construction has been delayed by a shortage of skilled workers, TSMC says, and it is seeking to bring in workers from Taiwan to get construction back on track.

reality, social VR and 3D art museums to expand the history, and heritage of tennis to fans globally. Most recently, Infosys launched the Carbon Tracker, allowing ATP players to track and offset emissions from their travel on tour.