UPS Financial News

'The Big Money Show' co-host Brian Brenberg weighs in on the change in costs since January 2021 and on the release of the April CPI.

Two-wheeler makers Royal Enfield, Bajaj Auto and Hero MotoCorp posted record revenue from sales of branded, genuine parts — like brake pads, headlights and speedometer — accessories and merchandise in FY24. At their post-earnings investor calls, company executives attributed this to the market for such items becoming more organised and buyers giving preference to branded spares over non-branded ones. Additionally, a superior product mix — higher contribution of premium models in the sales mix and an expansion in the product portfolio in the aftermarket segment — also helped companies boost revenue and profitability, they said. At Hero MotoCorp, revenue from spare parts and accessories increased nearly 80% in five years to a record Rs 5,087 crore in FY24 from Rs 2,836 crore in FY19. The share of this sub-segment in the company's revenue rose to 13.6% from 8.7% in this period, show its filings. Encouraged by the growth potential, the maker of the Xpulse and Splendor motorcycles will be expanding its Global Parts Centre.

Mumbai once had the dubious distinction of being Asia's largest slum. Then, an embarrassed Mumbai Municipal Corporation claimed Orangi in the Pakistani port city of Karachi has inherited that rather ignominious moniker. However, Dharavi still is home to a very large number of people — more than half a million — jostling for meagre resources on a relatively tiny patch of land — of about 550 acres. And, the area remains central to the outcome of the parliamentary polls in the Mumbai South Central seat. Dharavi is populated largely with 50 to 70 square foot homes, interspersed with leather and plastic recycling and pottery and other small-scale units. Successive state governments for several decades have been promising to redevelop Dharavi, which is part of the Mumbai south central constituency.

Shiv Sena candidate, Arvind Sawant, sprang a surprise by defeating Congress MP Milind Deora from Mumbai South constituency by about 128,000 votes. Sawant was said to be a lightweight, and Deora's defeat came in the backdrop of the «Modi wave». In 2019 Deora was expected to give a tougher fight, but Sawant won again, this time by about 100,000 votes. Deora is now in the Shiv Sena but the party has fielded its Byculla MLA Yamini Jadhav, setting up a contest between the two factions of the erstwhile party, as Sawant is the Shiv Sena (Uddhav Balasaheb Thackeray) candidate. The Mumbai South constituency presents a paradox — with tall skyscrapers housing billionaires and millionaires while sharing space with slum dwellers and mill workers who live in 90 square feet and 250 sq ft homes respectively.

Antagonism between Israel and the United Nations worsened as the Israeli army sought an explanation for footage showing armed men next to U.N. Palestinian relief agency vehicles. Separately, India was working to bring home the body of a U.N. staffer killed in Rafah by what the global body said was tank fire. Israeli forces have in recent days pressed into the east of Rafah in pursuit of what they say are four Hamas battalions despite warnings by Israel's main ally, the United States, to hold off to avoid mass civilian casualties.

Nirmala Sitharaman Wednesday said the government significantly increased the outlay for capital expenditure (capex) over the last 10 years to build quality infrastructure in the country, which had a significant multiplier effect on economy and investment, besides improving ease of living. She said the share of capex in overall expenditure went up to over 21% in 2023-24 as against just 12% in 2013-14 during the UPA regime, when infrastructure development remained grossly neglected. «Since 2014, our govt has allocated a total of ₹43.53 lakh crore in Gross Budgetary Support (GBS) capital expenditure, an increase of 3.72 times compared to 2004-14,» she said in a long post on social media platform X.

Power Finance Corporation (PFC), the country's largest lender to the power sector, said the Reserve Bank's recent draft guidelines on infrastructure project financing will not impact its profitability. The company said it has sufficient capital adequacy to counter the provision if it gets implemented. «We are examining those guidelines in detail, but what we understand is that these guidelines have been issued for the projects under implementation. I would like to say that in such a case, we are not going to have any impact on the profitability,» said Parminder Chopra, chairperson and MD of Power Finance Corp.

Nord 4 is poised to harness the power of the Qualcomm Snapdragon 7+ Gen 3 chipset, while its counterpart, the Nord CE 4 Lite, is slated to operate on the Qualcomm Snapdragon 6 Gen 1 SoC. Notably, whispers hint at an OLED display for the Nord CE 4 Lite, adding allure to its anticipated features. Although official confirmation remains elusive, a flurry of certification listings, including sightings on Singapore's IMDA website and India's BIS certification site, hint at an impending launch for the Nord CE 4 Lite.

ALSO READ: Wall Street today: US stocks surge after inflation data Videogame retailer GameStop shed nearly 30 per cent, nearly half of its gains in the past two sessions, while cinema chain AMC fell 25 per cent after surging 135 per cent in the same period. In an exchange filing, AMC said it will issue nearly 23.3 million shares of its stock to exchange for $163.9 million in debt that it owes. Trading in the retail investor darlings were halted multiple times after the market opened, with investors exchanging more than $2.3 billion worth of GameStop shares.

82.06-meter effort, winning the silver medal, while Uttam Balasaheb Patil of Maharashtra clinched the bronze medal with a throw of 78.39 meters. Asian Games silver medalist Kishore Jena, who emerged as India's second-best javelin thrower at the tournament, didn't perform up to expectations. He was ranked fifth with a disappointing 75.49-meter throw.

Rajasthan Royals slumped to their fourth successive defeat as Punjab Kings beat them by five wickets in an IPL match here on Wednesday. However, Royals with 16 points are safe in terms qualifying for the play-offs but with one match left, they might not finish in top two with an inferior net run-rate as Sunrisers can go up to 18 points. On the day, Punjab Kings restricted Rajasthan Royals to a meagre 144 for nine. For Royals, local hero Riyan Parag scored 48 off 34 balls on a difficult track while Punjab skipper Sam Curran (2/24 in 3 overs), Harshal Patel (2/28 in 4 overs), Nathan Ellis (1/24 in 4 overs) and Rahul Chahar (2/26 in 4 overs) were all on target. In reply, skipper Curran hit an unbeaten 63 off 41 balls to ensure an inconsequential victory with seven balls to spare.

OpenAI CTO Mira Murati expressed uncertainty regarding whether Sora's training data includes YouTube content, stating that the model primarily draws from publicly available and licensed sources. According to a New York Times report, OpenAI has transcribed over a million hours of YouTube videos for use in training Sora.

₹43.5 trillion for building infrastructure in the last 10 years, which boosted the economy through a multiplier effect, while lowering logistics cost for businesses, finance minister Nirmala Sitharaman said on Wednesday. The minister said in a social media post that better road connectivity attracts investments and boosts local businesses by improving market access and reducing logistics costs.

Jindal Stainless Ltd (JSL), the Abhudhay Jindal-led company on Wednesday, reported a 30% year-on-year (y-o-y) fall in consolidated net profit to ₹501 crore in the March quarter owing to compromised margins amid falling nickel prices and increasing shipping costs in light of the ongoing Red Sea Crisis. The company's consolidated net revenue stood at ₹9,454 crore, a 3% y-o-y fall from ₹9,765 crore during Q4FY23. The results missed Bloomberg analyst estimates of ₹9,605.2 crore and ₹577.50 crore for revenue and net profit, respectively.

₹15 lakhs and where that 2 crore employment opportunities are. What kind of guarantee was that? Chinese..." Earlier today, Shah, told news agency ANI, "I called it 'Chinese guarantee' on the basis of their durability...Those guarantees hold no meaning. They say that during elections and then forget about it." “I called it 'Chinese guarantee' on the basis of their durability...I was in Telangana recently.

1. LG 1.5 Ton 3 Star DUAL Inverter Split AC Part of Amazon's summer deals, the LG 1.5 Ton 3 Star DUAL Inverter Split AC is a good choice with its AI Convertible 6-in-1 Cooling, adapting to varying cooling needs while being energy efficient. The copper condenser with Ocean Black Protection ensures durability and consistent performance, even in challenging conditions.

rice and wheat, Chopra said the government has been closely monitoring prices of essential commodities and will take a call depending on the demand-supply situation. “As of now, there is no proposal for reviewing export curbs on any essential commodities," the food secretary said.

trade deficit stood at $19.1 billion during April 2024, up from $14.44 billion during April 2023. The goods trade deficit had stood at $15.6 billion in March 2024. The April figure fell short of economists' expectations of the merchandise deficit coming in at $17.23 billion, according to a Reuters poll.

Malcolm Bricklin hates lying in bed. He’s 85, and he can feel the life “draining right out of him” when he’s stretched out on a mattress. Instead, he gets up with the birds, gets dressed and gets out of the door ASAP, then climbs into a cherry-red, three-wheeled electric vehicle with his name on the back that is parked in his driveway.

The Bank of Canada‘s June 5 interest rate call is looming ever closer, presenting the tantalizing possibility of a first interest rate cut in just over four years. But there are still hurdles to clear before the central bank can pull the trigger, one Big Six bank economist is arguing.

India is considering formulating standard operating procedures (SOP) for negotiating free trade agreements (FTAs) as the country is engaging with several trade partners for such pacts, an official said. To discuss the various aspects of these agreements, the commerce ministry is organising a two-day 'Chintan Shivir' on FTA strategy and SOPs for trade negotiations. Former commerce secretaries, industry experts and government officials would participate in the deliberations on May 16-17 at Neemrana, Rajasthan. Various issues that would come up for deliberations include India's trade strategy and vision 2047; economic assessment and modelling of FTAs; inclusion of new disciplines into FTAs such as labour, environment, gender, indigenous people; services and digital trade; SOPs for FTA negotiations; and industry experience on utilisation of the FTAs.