UPS Financial News

LTIMindtree’s net profit grew 3.1% sequentially to Rs 1,135 crore, but missed ET’s estimate at Rs 1,150 crore. Lower margins compared to corresponding quarter of last fiscal also impacted its net profit which was 1.5% down on a Y-o-Y basis. Spotting a rare growth opportunities in North American business, LTIMindtree posted a 5.1% year-on-year (Y-o-Y) increase in its revenue at Rs 9,143 crore for the first quarter of FY25. It exceeded ET’s estimate at Rs 9,080 crore. North America revenue contribution grew to 75.1% in the first quarter of this fiscal – highest since the official merger between the erstwhile IT firms, LTI and Mindtree. On a sequential basis, revenue grew 2.8%.

₹1 trillion government fund to support companies in promising segments struggling for capital. Setting up the fund for deeptech companies, first proposed in the interim budget in February, is part of the government's to-do list for the first 100 days in power.

Mint said there is a need for a dedicated ministry to address the sector's unique needs, which contributes a substantial ₹5.69 trillion to India's gross domestic product. The sector, which gave patrons or consumers of restaurants a GST rate reduced from 18% to 5% in 2017, now struggles with rising costs and shrinking profit margins. Suri said calling for the restoration of input tax credit and support for operational expenditures such as rentals and delivery commissions for restaurants, especially an input on rentals which contribute 20% of operational costs would be a game changer.

Nearly one in three Canadian grandparents providing financial support to younger generations are possibly risking their own retirement, new polling released Wednesday by Royal Bank of Canada suggests.

Stocks that traded heavily or had substantial price changes on Wednesday: ASML, Five Below fall; J&J, V

Wall Street’s record-breaking rally ran into a wall, as worries about potentially worsening trade tensions with China hit stocks of chip companies

The group Google asked to distribute $100 million to news outlets in Canada has publicly released its governance model, which it says focuses on sustainability, equity and innovation within the industry.

With many Canadian homeowners facing a sharp rise in mortgage payments, many of them have decided to bail, resulting in the highest number of Toronto housing units for sale in more than a decade and signaling a big drop in prices in the coming months.

The federal government has ordered an offshore wind developer off Nantucket Island to suspend operations after parts of a damaged turbine blade ended up littering beaches

Fintech provider Apex is looking to help financial services build quickly and scale broadly with a new cloud-based solution.

Inflation in the U.K. held steady at the Bank of England’s target rate of 2% in June

The Czech government says South Korea’s KHNP has won a lucrative public tender to build at least two nuclear reactors in the Czech Republic as the country tries to become more energy independent and wean itself off fossil fuels

In the early 1980s, soon after graduating from college, Roy Cockrum was trying to make it as an actor in New York

SpaceX will use a powerful, souped-up capsule to shove the International Space Station out of orbit once time is up for the sprawling lab

Farm equipment maker John Deere says it will no longer sponsor “social or cultural awareness” events, making the agricultural machinery manufacturer one of the latest U.S. companies to distance itself from diversity and inclusion measures after being t...

meteor was seen soaring over the Statue of Liberty before disintegrating about 30 miles above Midtown Manhattan on Tuesday morning. NASA has reported that the rock passed through the atmosphere over the Big Apple around 11:15 a.m. New Yorkers reported watching a flash of fire streak across the sky at the same time. They also said that they felt the ground lightly shaking beneath their feet, reports 'New York Post'. Confirming the incident, the Meteoroid Environments Office of NASA said in a Facebook post that the American Meteor Society has provided eyewitnesses of a sighting of a «fireball and booms and shakings» between 10 a.m. and noon Eastern time.

The Bank of Canada needs to wrap up its quantitative tightening program or fix distortions in short-term funding markets that are keeping effective interest rates higher, according to Canadian Imperial Bank of Commerce strategists.

The International Monetary Fund is upgrading its forecast for the Canadian economy, projecting it will now grow by 1.3 per cent this year and by 2.4 per cent in 2025, according to a report released Wednesday.

French drugmaker Sanofi plans to invest ₹400 million (about ₹3,600 crore) over the next six years to expand its global capability centre (GCC) in Hyderabad by increasing the headcount and further developing the facility. Of the total, ₹100 million will be invested by the end of 2025. Over the next two years, Sanofi plans to more than double the headcount at the Hyderabad GCC to 2,600 employees, making the centre the largest of its four hubs globally. The company employs about 1,000 people in Hyderabad. The Hyderabad GCC will support Sanofi's global operations spanning commercial, manufacturing, supply chain research and development (R&D) and digitalisation. The GCC in India will help the company bring some of outsourced functions in-house, giving it more control over critical operations like manufacturing, commercial and R&D.

Finra has beefed up its enforcement muscle by appointing two veteran experts in financial services law to fill newly created roles in its leadership.

Following the death of George Floyd, U.S. Bank decided to look for ways to economically uplift the African American community and narrow the wealth gap. It didn’t have to look very far, according to Scott Ford, president of wealth management at U.S. Bank.