UPS Financial News

MK Exim (India): The company has declared a bonus issue in the ratio of 1:2. The record date to ascertain the eligibility of shareholders for the bonus issue has been fixed on January 17. In a stock exchange filing, MK Exim (India) Ltd said: “This is to inform you that….the Company has fixed Wednesday, 17 January, 2024 as the "RECORD DATE", for the purpose of ascertaining the eligibility of shareholders entitled for issue of Bonus Equity Shares of the Company in the ratio of 1:2, i.e.

HDFC Bank: India’s largest private sector lender registered a 2.5% sequential growth in net profit at ₹16,372.54 crore for the December quarter, partly affected by higher bad loan provisions. Net interest income grew by 4% sequentially to ₹28,471 crore during the quarter. Piramal Pharma: Piramal Critical Care, a division of Piramal Pharma, announced the launch of a new concentration of zinc sulfate injection in the US market.

truck drivers in the state, and we will be going on a strike. All heavy vehicles will go off-road from January 17," Reddy said as quoted by several media reports. Under the Bharatiya Nyaya Sanhita, which is set to replace the Indian Penal Code, drivers who cause serious road accidents due to negligent driving and run away without informing authorities face up to 10 years in prison or a fine of ₹7 lakh.

Statec -- South Africa's largest player in the solar energy market -- said its solar battery storage system started feeding power into Eskom's grid in mid-December from its hybrid solar and battery facility in the Northern Cape province, which receives the greatest amount of sunlight in the country throughout the year. -Statec has built three plants in the region, covering 879 hectares and stretching 10 kilometres from north to south. Together, the plants can produce a combined solar capacity of 540 MW while its massive solar battery system can deliver up to 225 MW of power into the grid.

If you've been keeping abreast of recent events at Citigroup, you will know that the bank is cutting 20,000 jobs. You will also know that it's already informed London employees that cuts are coming, starting next week. But do not be deceived into thinking that you know everything. 

Pawan Passi is no longer in the room, and he will not be coming back for a while.

After announcing its fourth quarter results last week, Bank of America is due to announce its bonuses next week and when it does, there may be disappointment. Bank of America could benefit from disappointing a few people; they won't leave. 

As Citigroup prepares to make another round of job cuts, focused on staff in managerial roles, one former managing director there is having a fine timing living in Cornwall. 

If you are (or you work with) a commodities trader in Singapore, you might want to consider joining a commodities trading house instead of a bank.

As we noted yesterday, Citi still has quite a few of its 5,000 managerial job cuts still to go. It wants to complete these by the end of the first quarter. And it hasn't even started the 15,000 supplementary job cuts that will take it to its 20,000 target. 

Brexit was a crossroads moment for the financial services industry in London (and Britain generally), but some of the loudest lamentations about its impact might be heard from the London banking community.

It turns out that JPMorgan wasn't the only one trimming jobs in the fourth quarter. Goldman Sachs was doing it too.

If you thought this year's Deutsche Bank bonuses might be strong, then think again. Speaking today at Davos, Deutsche Bank CFO James Von Moltke intimated that bonuses might not be brilliant for 2023 after a «difficult year.» Deutsche Bank's bonuses will «reflect performance,» added Von Moltke. 

If you live in a family with a single financial services income, you may find that your life isless lavish than you'd envisaged and that you can't afford all the things you want. If you live in a family with two, though, you can buy hundreds of pairs of shoes and a custom-made closet to accommodate them.

bonds in the coming weeks, capitalising on lower government bond yields that have made borrowing cheaper while tight liquidity and robust credit growth are spurring lenders' demand for funds to meet loan needs. State Bank of India is set to kick off domestic bond issuances for 2024 with the sale of an additional tier-1 (AT-1) bond worth up to ₹5,000 crore. Bidding for the issue would happen on Thursday, people aware of the development said. SBI's AT-1 bond could be priced at around 8.25%, with long-term investors likely to show strong demand, the people said. Meanwhile, Bank of Baroda (BoB) is likely to raise up to ₹5,000 crore soon by issuing 10-year infrastructure bonds, said the people cited above. Canara Bank could also raise up to ₹3,000 crore through the issuance of AT-1 bonds later this month, while Bank of Maharashtra and Central Bank of India are considering the option of raising funds through infrastructure bonds. «We have seen a correction in bond yields which happened since December.

Loblaw confirmed that it’s no longer offering discounts of up to 50 per cent on items nearing expiry.It’s a move that the Canadian Association of Retired Persons (CARP) is surprised and disappointed by.“It is a major increase for some people. It really hurts them.

In his first earnings call with analysts, new Morgan Stanley CEO Ted Pick declared his financial advisor bona fides, saying that his family’s roots in the wealth management business balanced his background in investment banking and trading.

Financial advisors have been retiring faster than they can be replaced, and that trend shows no sign of abating, according to a recent report from Cerulli Associates.

Canada Mortgage and Housing Corp. says the annual pace of housing starts in December rose 18 per cent compared with November, helped higher by an increase in multi-unit urban starts in Vancouver and Montreal.

Diablo 4 Season 3, the upcoming major content update for the game, is set to bring changes and new features. With the Season of Blood drawing to a close, players are gearing up for the next phase in the game's evolution. Here's a rundown of what to expect in Diablo 4 Season 3. Diablo 4 Season 3: Reveal Date

OpenAI CEO Sam Altman says concerns that artificial intelligence will one day become so powerful that it will dramatically reshape and disrupt the world are overblown.