UPS Financial News

Peak XV Partners, formerly Sequoia Capital India and SEA, on Friday, divested a little over 22 per cent stake in Indigo Paints to investors like Morgan Stanley, Mercer and HDFC MF for Rs 1,557 crore via open market transactions. Venture capital firm Peak XV Partners through its two affiliates, Peak XV Partners Investments IV and Peak XV Partners Investments V, offloaded a total of 1.05 crore shares, amounting to a 22.04 per cent stake in Pune-headquartered Indigo Paints, as per the bulk deal data on the NSE.

The IRS has collected $1.3 billion from high wealth tax dodgers since last fall, the agency says, crediting spending that has ramped up collection enforcement through President Joe Biden's signature climate, health care and tax package signed into law ...

SlateStone Wealth chief market strategist Kenny Polcari reacts to August’s unemployment rate during an appearance on ‘Varney & Co.’

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Strategas Chairman and CEO Jason Trennert discusses the common man CPI, real wages, the jobs data revisions and Harris tax hike plan.

The Securities and Exchange Commission says that it has reached a settlement with industrial conglomerate Esmark and its chairman for announcing a false tender offer to buy U.S. Steel

manufacturing facility being set up in Kakinada, Andhra Pradesh, a top official of the Belgium-headquartered engineering company said. It aims to be the lowest cost manufacturer of electrolysers and plans to use the India plant an export hub, Francois Michel, chief executive of John Cockerill Group, said. The company also plans to expand its operations into steel, energy and defence, and triple its workforce in two years, he said.

Although it has been nearly four years since hurricanes Laura and Delta decimated southwest Louisiana and caused an estimated $22 billion in damage nationwide, some residents say they are still far from recovery

More than two months after Hurricane Beryl, the strongest July Atlantic hurricane on record, some farmers in Jamaica are still unable to restore their crops and repair their homes

Google is being slammed by U.K. regulators who say it’s taking advantage of its dominance in digital advertising to thwart competition in Britain

AFPI chief economist Michael Faulkender provides insight on the U.S. economy on Kudlow.

labour ministry on Friday urged states to undertake labour reforms and expedite two-way integration of data for unorganised workers with the e-Shram portal for enabling easier access to central social protection and welfare schemes to them. Chairing the second regional meeting with states in Chandigarh, Shobha Karandlaje, minister of state for labour and employment, highlighted the critical need for labour reforms to make India the world’s largest economy by 2047, the ministry said in a statement issued after the meeting. “Our nation should transcend the colonial legacy in the existing labour laws which have originated in the pre-independence era. Therefore, the government has modernized, simplified and harmonized 29 labour laws into four Labour Codes,” she said.

One doesn’t need to know sign language to understand what Michael Connolly feels about his colleagues’ efforts to break down the barriers posed by his deafness

Foreign business chambers have been warning for weeks that a proposed, sweeping overhaul of Mexico’s judiciary that would make judges stand for election, would endanger foreign investment in Mexico

Rajasthan, and West Bengal. The government provided ₹6,500 crore for electrification work in the budget for FY25 which also includes unused funds from the previous year, one of the persons quoted above said. A query sent to the railway ministry remained unanswered till press time.

₹3,788 crore in 2022-23 from ₹1,502 crore a year earlier. Its losses narrowed to ₹64 crore from ₹102 crore in FY22. Hariharan's potential move to the beverage giant follows a series of recent senior appointments at Coca-Cola.

Kamala Harris has recently gained significant support in Georgia and North Carolina, prompting local Democratic leaders to believe she might achieve a double win in these Southern swing states for the first time since Jimmy Carter in 1976. Since her presidential campaign launch, over 52,000 volunteers have joined her efforts in these states. The influx has been so large that county party officials in places like Greensboro, North Carolina, describe their offices as chaotic, with up to 30 volunteers arriving daily and donors helping to fund neighborhood canvassers, as per the reports of Yahoo news.

Infra lender National Bank for Financing Infrastructure and Development (NaBFID) has said that lack of data on the sector is making it difficult for them to convince the regulator about the need for higher provisioning for project loans in the sector. «For retail, there is credit bureau but similar thing in infra is not available But for the credit bureaus, where would have been the fintechs» said NABFID MD and CEO Rajkiran Rai ." Nabfid is a new organistion and when we were looking at pricing, we were looking for numbers (on losses). Nowhere is it available. Whatever is available is lopsided data, is not correct data" «When we were looking at pricing, we were looking for numbers (on losses). Nowhere is it available. Whatever is available is lopsided data, is not correct data. But for the credit bureaus, where would have been the fintechs. Such data is not available for the infrastructure sector» said NABFID MD and CEO Rajkiran Rai indicating that the sector does not have end to end data like retail or MSMEs .

US recession is very slowly becoming a distant possibility, looking at the latest economic data, that is slowly pointing towards a downward trend in US stocks. US recession fears have begun mounting steadily over the course of time, since early August, and the July jobs data somehow became a triggering factor after the employment rate began growing steadily. Even though the US stock markets was able to recover from previous dips related to the employment data, but there are major issues still persisting in the markets, which are working against the economy, and have chances to bring in recession into the United States.

ministry of road transport and highways has constituted an expert panel to technically review all long tunnel projects before the proposal is submitted for approval, the move aimed at avoiding a repeat of Silkyara tunnel like mishap. The notification, dated September 6, will apply to all tunnels with length more than 1.5 km. The enhanced scrutiny related provisions are being put in place as the ministry plans to build 74 new tunnels stretching 273 km at a cost of Rs 1 lakh crore over the next few years under its mega plan to strengthen India's highway network. As per the notification, the ministry has set up an advisory panel comprising experts from Oil and Natural Gas Corporation (ONGC), Rail Vikas Nigam Limited (RVNL) and THIDCL for tendering expert advice during the appraisal of long tunnel projects.

local kirana stores to operate and sell online. The e-commerce platform specialises in the fresh produce category which includes fruits, vegetables, meats, and dairy. It has recently introduced video-based shopping on the lines of content-commerce trends in China.