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Tata Steel workers based at two plants in Wales voted in favour of industrial action on Thursday over the company's plan to close its blast furnaces and shed 2,800 jobs. The Mumbai-headquartered steel major said it was «disappointed» over the move while consultation continues and pointed to «significant irregularities» in the ballot process in favour of strikes. While the company says its restructuring plans were important to sustain the business as it transforms to new electric technology, Unite the Union said its workers from the Port Talbot and Newport Llanwern plants had voted against the «disastrous» plans because they did not agree with the approach. «We are naturally disappointed that while consultation continues, Unite Union members at Port Talbot and Llanwern have indicated that they would be prepared to take industrial action up to and including strike action if an agreement cannot be reached on a way forward for the business and its employees,» a Tata Steel spokesperson said.

The April 1st implementation of another hike in the federal government’s carbon tax and the growing prospect that a Poilievre government will abolish the tax, have prompted its advocates to mount a last-gasp defence. Three hundred supporters (not all of them economists) have signed a petition in favour of it. Its backers also fanned out to argue for it in op-eds and numerous appearances on CBC, which willingly provided a soap box for one side of this partisan issue. But, far from being persuasive, advocates mostly demonstrated how little they have learned from their long-standing failure to sell the tax to many politicians and most Canadians.

In a trading update today (11 April), the infrastructure and private equity investment manager reported a dip in AUM and FUM to £11.9bn and £8.4bn, respectively, in the year to 31 March 2024. This compares to £12.2bn AUM and £9bn FUM in the previous twelve months. On a constant currency basis, AUM fell to £12.1bn, with FUM at £8.5bn. The AUM decline during the period included a reduction of £569m within the firm's «lower revenue» margin Foresight Capital Management division, comprising net outflows of £446m, including gross inflows of £274m, and negative NAV performance of £123m.  ...

In a trading update today, the firm said AUM grew 14% in the year to 31 March 2024, up to £21.9bn from £19.2bn at the end of March 2023. Net outflows of £1.6bn, alongside fund closures worth £50m, were offset by strong market movements and performance of £4.3bn.  The bulk of outflows during the year came from open-ended funds at £1.2bn, as investment trusts and segregated mandates shed £154m and £235m, respectively.  Polar Capital suffers £581m outflows as profits slump In the first quarter of this year, however, investors poured a net £56m into the asset manager's funds, while ...

Also Read: US Fed rate cut unlikely in June as US inflation hots up. What this means for Indian investors and what should they do? Coming to current levels, NSE International Exchange (NSEIX) data suggests that Gift Nifty is trading around 22,582 (up 0.12 per cent) as against the Nifty 50 futures closing of 22,804 on April 10. Gift Nifty is more than 200 points lower which indicates a gap-down opening for Nifty 50 on Friday, April 12.

A law firm specializing in crypto taxation recently filed a trade secrets lawsuit in an Illinois US District Court. It names a competitor and a former employee as defendants, alleging misappropriation of confidential materials through YouTube videos. These include templates, client forms, and other proprietary information.

Bankrupt crypto firms FTX Trading and Voyager Digital Holdings have agreed to settle loan disputes, which would help reimburse creditors.

Bharti Hexacom will be listed on the exchanges on Friday. Ahead of the debut, the company's shares are trading with a premium of Rs 90 in the unlisted market. Considering the upper price band of Rs 570, the stock is expected to list at a 16% premium to the issue price.

In a trading update today, the firm said AUM grew 14% in the year to 31 March 2024, up to £21.89bn from £19.22bn at the end of March 2023. Net outflows of £1.61bn, alongside fund closures worth £50m, were offset by strong market movements and performance of £4.33bn.  The bulk of outflows during the year came from open-ended funds at £1.2bn, as investment trusts and segregated mandates shed £154m and £235m, respectively.  Polar Capital suffers £581m outflows as profits slump In the first quarter of this year, however, investors poured a net £56m into the asset manager's funds, wh...

global merchandise trade is likely to decline by 1.2 per cent, in value terms, due to the ongoing geopolitical uncertainties, economic think tank Global Trade Research Initiative (GTRI) said on Thursday. The US dollar value of world merchandise trade fell 5 per cent in 2023 to USD 24.01 trillion, but this decline was mostly offset by a strong increase in commercial services trade, which rose 9 per cent to USD 7.54 trillion, it said. This allowed world goods and commercial services exports on a balance of payments basis to slip 2 per cent in 2023 to USD 30.8 trillion. «Despite the World Trade Organization (WTO) expecting a 2.6 per cent rise in trade volume for 2024, the value of world merchandise trade is still seen to decline by 1.2 per cent in 2024 from 2023, continuing the trend of trade values falling behind the trade volumes,» the think tank said.

Hong Kong’s Securities and Futures Commission (SFC) granted an expanded license to HashKey Capital. This upgrade enables HashKey to offer its services to retail investors, removing the prior restriction that limited its clientele to professional investors only, the firm said Thursday.

IIFL Finance, a prominent non-banking financial company (NBFC) specialising in retail credit, have recently witnessed a notable resurgence. This rebound follows a significant sell-off observed in the first three weeks of March, triggered by RBI restrictions on its gold loan disbursements. Over the past four trading sessions, the stock has surged by 23%, showcasing a remarkable recovery.

NEW DELHI : For a long time, Hollywood ruled India's IMAX and 3D screens, offering immersive viewing of movies rich in action and special effects. Now, local fare is gracing these premium formats, bringing differentiation for the movie-makers and new experiences for the movie lover. Local titles like Animal, Maidaanand Bade Miyan Chote Miyan have released in IMAX screens over the past few weeks, also benefiting the owners of these formats who only have a limited number of Hollywood films to screen every year.

Also Read: As El Niño flips over, Skymet forecasts normal monsoon this year Moreover, metal stocks are enjoying a consistent upward trend, with industrial metal prices soaring to multi-year highs. Banking stocks have also performed strongly. This surge in major sectoral indices propelled the Nifty 50 to achieve a new record high of 22,775 points in the previous trading session.

Ashish Kacholia portfolio: After climbing to a new peak of ₹458.85 apiece on NSE in the last week of February 2024, Fineotex Chemical share price has remained an ideal sell-on-rise stock of the Indian stock market. However, some experts believe that the Ashish Kacholia-owned stock can give sharp upside movement once it comes out of the base building mode. Market experts said that Ashish Kacholia's portfolio stock has recently given a fresh breakout on the chart pattern and it is looking bullish for the short to medium term.

After Chabahar, India is reportedly on course to gain the rights to operate a second overseas port, Sittwe, located in the Rakhine state of Myanmar. There is though no official corroboration yet. Ports in the Indian Ocean have become hot property as China on one side and the India-US combine on the other race to invest in them.

₹17.58 lakhs as of today. On Wednesday, April 10, RBM Infracon shares did not trade on the NSE in the first half. According to analysts, it could be as a result of a buying freeze.

UK has appointed Lindy Cameron as its new high commissioner to India. Cameron will succeed incumbent Alex Ellis. «Lindy Cameron CB OBE has been appointed British High Commissioner to the Republic of India in succession to Alex Ellis CMG who will be transferring to another diplomatic service appointment,» a British readout said on Thursday. The readout released by the United Kingdom High Commission in New Delhi said Cameron will take up her appointment this month.

yen is at three-decade lows and under enough pressure to prompt strong official warnings of intervention to prop it up. The yen has fallen despite Japan's first interest rate hike since 2007 and optimism about the economy. It traded at 153.24 per dollar on April 10, its weakest since 1990 and in real terms it is at its weakest since at least the 1970s.

₹4 crore in business, news agency ANI has reported. As per the Mumbai Police, Vaibhav allegedly diverted around ₹4.3 crore from the partnership firm, causing a loss to Hardik Pandya and his brother Krunal Pandya. Officials in the EOW wing told Times of India that, Vaibhav was arrested on April 10 and has been charged with cheating and forgery.

India later this month to explore opportunities in the country's huge agribusiness sector and further promote American products among India's rising middle class. «India represents a growth economy for the US agribusinesses seeking to capture an increasing share of the household food purchases in the fifth-largest economy in the world,» said Under Secretary of Agriculture for Trade and Foreign Agricultural Affair Alexis Taylor. From April 22 to 25, Taylor will lead a US Department of Agriculture (USDA) agribusiness trade mission to Delhi. «India's rising middle-class consumers' familiarity with American food products and increased purchasing power is a real opportunity for US producers,» Taylor said.