UPS Financial News

Stellantis will spend $406 million retooling three Michigan factories so they can build electric vehicles or battery parts

McDonald’s is extending its $5 value meal until December at most U.S. stores, and the company's rivals are likely to follow

A tech billionaire has performed the first private spacewalk hundreds of miles above Earth

Bio-E3 policy marks a crucial step in positioning India as a global bio-economy leader and is set to spark a «bio-revolution» in India similar to the IT revolution in the Western world, Union minister Jitendra Singh said on Thursday. The BioE3 policy was formally launched last month and aims to facilitate sustainable and efficient utilisation of biological resources for innovation, scaling-up and bio-manufacturing of specialty chemicals, enzymes, bio-polymers, functional foods, smart proteins, veterinary products, precision bio-therapeutics and services. Speaking at the Global Bio-India Summit 2024, Singh, the Minister of State (Independent Charge) for Science and Technology, said the policy marks a crucial step in positioning India as a global bio-economy leader. Singh highlighted the importance of the Global Biotech platform, which brings together a diverse range of stakeholders, including start ups, SMEs, large industries, research institutes, and international bodies.

bullion prices. The gains were triggered by a 25 bps rate cut by the European Central Bank (ECB). The October gold futures on the MCX were trading at Rs 72,571 around 7:20 pm while the December Silver contract was hovering at Rs 85,935 per kg around this time.

New India Insurance, HDFC Ergo General Insurance, and National Insurance reported growth deceleration. Total industry premiums stood at Rs 22,880 crore, compared to Rs 21,883 crore in August 2023. August saw a dip in auto sales, with passenger vehicle sales falling 4.5% year-on-year during the month, according to data released by the Federation of Automobile Dealers Association. Standalone health insurance companies, on the other hand, reported a robust 24.5% growth, driven by Niva Bupa Health Insurance, which is gearing up for its IPO. The health insurer saw premiums soar by 39% to Rs 596 crore from Rs 429 crore.

suo motu cognisance of the widespread protests impacting medical services and set up a 10-member national task force to make recommendations on ensuring safe working conditions for medical professionals and preventing violence against them. While suggestions are pouring in from stakeholders, young medics told Mint what they endure in their professions and what it would take to make them feel safe again. According to a study by the Indian Medical Association (IMA), over 75% of doctors have faced violence of some kind at the workplace.

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Insurance Corp (LIC) on Thursday said it has hiked its stake in Indian Railway Catering and Tourism Corporation (IRCTC) to about 9.3 per cent. In a regulatory filing, LIC said its holding in railway sector 'miniratna' PSU has increased 2.02 per cent in the period December 16, 2022, to September 11, 2024, via open market purchases. «Life Insurance Corporation of India has increased its shareholding in equity shares of Indian Railway Catering and Tourism Corporation Ltd from 5,82,22,948 to 7,43,79,924 i.e., 7.278% to 9.298% of the paid-up capital of the said company (IRCTC),» LIC said.

Affordable housing finance provider Vastu Housing Finance Corporation is looking to raise up to $50 million from United States International Development Finance Corporation (DFC) in a long term external commercial borrowing. Vastu, supported by International Finance Corporation, lends to the low-income and self-employed segments. The company had assets under management of around Rs 7,400 crore at the end of March.

Colgate-Palmolive (India) Ltd. slipped 0.52 per cent to Rs 3640.5 in Thursday's trade as of 01:49PM (IST). It hit a high of Rs 3679.65 and low of Rs 3633.45 during the session. The stock quoted a 52-week high price of Rs 3710.0 and a low of Rs 1930.0. The return on equity for the stock stood at 70.54 per cent. About 2,160 shares have changed hands on the counter so far.

Harshit Sharma, 37, head of operations at a trading company for heavy machinery, learned firsthand just how expensive living in Singapore can be when faced with the need for nasal surgery

Yes Bank may end up jeopardising the stake buy, an informed source said on Thursday. When asked on whether the deal will go through by the end of this fiscal, the source, who is not authorised to speak to the media, said the deal itself is in a quandary. As per the source, the talks on any deal «are not going anywhere» because of all the bidders' push on the 51 per cent stake. The source explained that the RBI is uncomfortable with a foreign entity owning a 51 per cent stake in a big entity like Yes Bank.

Mint. “The plant is costing us ₹4,000 crore ($475 million) to set up, and this itself will take 18 to 24 months to complete fully and make it operational. Right now, we don’t have any plans to venture into a fab project, at least in the near term. We’ll start with chip manufacturing through OSATs, and then slowly see how we can scale up," he said on the inaugural day of Semicon India 2024.

IT services firm Xoriant, backed by Indian private equity firm ChrysCapital, has announced the acquisition of Jaipur-based Fexle, its third, to strengthen Xoriant’s capability of delivering artificial intelligence (AI)-powered front-end digital engineering platforms. The financial details of the transaction remained undisclosed. “Established in 2013, Fexle has developed robust expertise in sales, marketing, and service cloud, with significant capabilities in data cloud, CPQ, Pardot, and Heroku, and is a key contributor to the Salesforce AppExchange. The company provides consulting, implementation, and managed services to prominent clients across the US and other global markets,” Xoriant said in a statement.

who have left venture capital firms in the past year to start off on their own are finding it hard to raise capital as they struggle to convince investors who currently favour the public markets that fetch them higher returns. “LPs (limited partners) are very satisfied at this moment with the delivery of returns that are taking place in the public markets," said Sanjay Nayar, former CEO of KKR India, who retired to start his own early-stage fund, Sorin Investments, which closed its maiden fund in May.

On the BSE, Granules India(down 16.67 per cent), Ganon Products(down 9.96 per cent), Dhunseri Invst(down 9.77 per cent), Konndor Industries(down 9.48 per cent) and Ceeta Ind(down 8.78 per cent) stood among the top losers in today's trade.

Union Bank of India has launched a special fixed deposit termed Union Sumvridhi 333, offering higher interest rates.

Hilton Public School in Amroha for allegedly bringing non-vegetarian biryani in his lunchbox, will be transferred to a new school along with his two siblings. The decision comes after their mother opted to move them to another institution, with the education department covering the cost of their enrolment. Hilton Public School has also agreed to waive the outstanding fees of Rs 37,000. Following an administrative inquiry on Tuesday, the principal was cleared of any wrongdoing, with officials stating that the viral video of the incident had been «edited.» Despite this, the school management has removed the principal from the position while an internal investigation is still ongoing. Amroha's District Inspector of Schools (DIOS), Vishnu Pratap Singh, confirmed that the government is facilitating the transfer process. «We’ve spoken with both the school management and the boy’s mother, and both have agreed to the transfer. The education department is working to ensure the children are enrolled in a new school, and once the transfer certificates are issued, the process will move forward,» he said.

Headphones for travellers: A complete buying guide for a comfortable listening experience on your travel adventuresEnjoy the freedom of movement with TWS earbuds at up to 74% offAlso Read: Headphones vs earbuds: Which audio device should you buy? A comparison with top buying optionsNeckband earphones are ideal to take along on jogs and runs. These devices have a good battery backup, ensuring that you are connected to your favourite tunes at all times.

Minda Corporation's board of directors has approved a Rs 1,000 crore fundraising plan via preferential issue of shares or qualified institutional placement (QIP) mode. The decision was taken during a meeting held today and the company was informed about the development during market hours.