UPS Financial News

Travel spending among American households continues to outpace its pre-pandemic levels, a trend underpinned by a zeal for international trips, according to new Bank of America research.

₹51 crore from the previous quarter, while write-offs themselves rose by ₹105 crore over the same period. Abhijit Chakravorty, chief executive of SBI Cards, told analysts in a conference call: “The primary reasons for the increase in credit cost…is that customers obtained multiple trade lines from other lenders after taking a card, and this over-leveraging has impacted their repayment capacity." The credit card business is a tough one and can be highly cyclical. Importantly, the business in general is the canary in a coal mine for economic conditions.

The Economic Survey for 2023-24 questioned the merits of India’s inflation targeting regime, which aims at a headline inflation rate of 4% with a band of 2% on either side. It mused aloud whether a regime that targets inflation, excluding food prices, would be more appropriate in the Indian context, especially given the unintended effect it has on farmers’ terms of trade. Some have opined that it is a settled issue and there is no point in opening it up.

Tolins Tyres will open for subscription on September 9. The issue will be available for investors to bid till September 11. The offer comprises a fresh equity sale of Rs 200 crore and an offer for sale (OFS) of Rs 30 crore. Under the OFS, promoters Kalamparambil Varkey Tolin and Jerin Tolin will offload part stakes in the company.

Nifty ended Monday’s session with a gain of 43 points to form a small negative candle with a minor lower shadow on the daily chart. The short-term trend of Nifty is intact. Though Nifty is placed at the hurdles of around 25,350 levels (1.382% Fibonacci extension), still there is no indication of any significant reversal pattern building at the highs. A decisive move only above 25,400 could open the next upside target of 25,800 levels. Immediate support is placed at 25,100, said Nagaraj Shetti of HDFC Securities.

What do travelers want from an Airbnb right now? Their hosts have an answer: too much. The number of short-term rentals on sites such as Airbnb and Vrbo hit a record high in July, according to AirDNA, a market-research firm. Hosts now have more competition for bookings, while guests have more options.

Tata Motors is looking to consolidate its position in the SUV segment as it marks its entry into the highly competitive mid-size space which is currently dominated by South Korean and Japanese carmakers. The Mumbai-based auto major on Monday launched midsize SUV coupe Curvv with petrol and diesel powertrains with a price starting at Rs 9.99 lakh. The company has already unveiled the electric version of the model in August. The model would be competing with the likes of Hyundai Creta, Kia Seltos, Maruti Suzuki Grand Vitara, Toyota Urban Cruiser Hyryder, and Honda Elevate, among others.

marijuana. Former US President Donald Trump supported the legalization of marijuana for recreational use under certain conditions in his home state of Florida. He asserted that he was and will be again the most respected Law & Order President in U.S. history. He shared that Americans will reclaim their streets by applying tough and astute law enforcement to violent and other forms of crime. Amendment 3 will allow adults to possess up to three small amounts of marijuana for personal use in Florida, as it has in so many other states that have already approved it. In his post, Trump expressed his desire for lawmakers in Florida to outlaw the use of marijuana in public areas. He does not, however, believe that possessing personal amounts of marijuana should be a crime. Nobody should be mourning a loved one who passed away from marijuana laced with fentanyl, and we don't need to waste taxpayer dollars and ruin lives by arresting adults who have small amounts of the drug on them.

Mughal ruler Akbar as a magnificent person would be burned. The minister said this to a gathering during an event held at Mohanlal Sukhadia University in Udaipur. All of the class books have been shown to us. The reference to Akbar as a great man has not yet been found in any of the literature. All the literature will be burned if it is present, Dilawar declared. Dilawar believes that comparing Akbar to Maharana Pratap, a legendary Rajput warrior ruler, is an insult to both the latter and Rajasthan.

Caroline Wozniacki used to come to the U.S. Open all but certain that she would face one of the great players of her generation. For the former world No.

IPO) of Shree Tirupati Balajee Agro Trading will open for subscription on September 5. The company has fixed a price band of Rs 78-83 for the public offer, which will close on September 9. The IPO includes a Fresh Issue of up to 1.47 crore shares and an offer for sale (OFS) of up to 56.9 lakh shares by Binod Kumar Agarwal.

Domestic benchmark index NSE Nifty ended 42.8 points up at 25278.7, while the BSE Sensex closed 194.07 points up at 82559.84.

coal production rose by 6.48 per cent to 384.08 million tonne (MT) in the first five months of the ongoing fiscal. The production was 360.71 MT in April-August FY24. The figures for the period under review are provisional. The production of CIL, which accounts for over 80 per cent of the domestic coal output, rose to 290.39 MT during April-August FY25, marking a growth of 3.17 per cent year-on-year, the coal ministry said in a statement.

Grant Jeide looked like another dude riding the rollicking waves left in the wake of a 23-foot (7-meters) boat hurtling through the water at speeds of up to 40 miles per hour on a Northern California river earlier this summer

Shares of Brigade Enterprises Ltd.(up 3.04 per cent), Sobha Ltd.(up 2.84 per cent), DLF Ltd.(up 0.38 per cent) and Macrotech Developers Ltd.(up 0.03 per cent) ended the day as top gainers in the pack.

Vedanta board on Monday approved the third interim dividend of Rs 20 per equity share for the financial year 2024-25. The total dividend payout will amount to Rs 7,821 crore. The company has set the record date on September 10, 2024.

If approved by shareholders, the £123.7m Artemis Alpha will be wound up and rolled into the £193.6m Aurora portfolio, creating the Aurora UK Alpha trust. Shareholders in the Artemis trust will be given a chance to elect for a cash exit for up to 25% of the issued share capital, giving shareholders the ability to part egress their investment. Investment Week unveils finalists for Investment Company Awards 2024 The cash out will be offered at a 2% discount to Artemis alpha's residual net asset value and a 20% discount to the value of the company's unquoted holdings that that will tra...

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Benchmark NSE Nifty closed 42.8 points up at 25278.7 amid buying in frontline bluechip counters.

Shares of Balkrishna Industries Ltd.(up 2.33 per cent), Hero MotoCorp Ltd.(up 2.26 per cent), Bajaj Auto Ltd.(up 2.16 per cent), Apollo Tyres Ltd.(up 1.31 per cent) and Maruti Suzuki India Ltd.(up 0.2 per cent) ended the day as top gainers in the pack.

Realty developer Omaxe Group has lined up Rs 2,500 crore to develop a sport centric project in Delhi’s Dwarka, company’s managing director Mohit Goel told ET. The project will include a cricket stadium in addition to retail and hospitality development. It has won the bid to develop 50.40-acres of land from the Delhi Development Authority (DDA). Omaxe will pay Rs 18 crore to the authorities every year for the next 30 years.