Wellness Financial News

India is on a mission to become the world's leading and the most sustainable producer of critical minerals, Vedanta group firm Hindustan Zinc's Chairperson Priya Agarwal Hebbar has said. Critical minerals, such as cobalt, copper, lithium, nickel and rare earths, play a crucial role in the production of clean energy technologies, from wind turbines to electric cars. Critical minerals are particularly in demand for the production of batteries for electric cars. Speaking at Bank of America Securities Global Metals, Mining and Steel Conference 2024 in Miami recently, Hebbar said the mining and metals sector will play a crucial role in helping the world meet the net-zero goals.

workspace platform Smartworks has picked up an entire tower with 14 floors of office space spread over 6 lakh sq ft in Pune’s Balewadi through a long-term lease to set up a coworking center and expand its presence in the city. The company has leased the space for a total of 15 years in an upcoming commercial tower 43 EQ close to Balewadi High Street, taking its portfolio of managed workspaces in Pune to over 3 million sq ft. “Our growth in Pune has been outstanding and this expansion aligns with our aim to empower businesses by offering them tailored office solutions to boost productivity and foster growth in a professional, fully equipped and managed setting,” said Neetish Sarda, founder of Smartworks. The company is aiming to start operations at this new co-working hub in October and once live, the hub is expected to accommodate over 8,000 desks.

India Meteorological Department (IMD) has reported heavy to very heavy rainfall in isolated areas of Coastal Andhra Pradesh, Telangana, as well as heavy rainfall in isolated regions of Coastal & South Interior Karnataka, Tamil Nadu, and Kerala. This weather pattern is attributed to a cyclonic circulation over south Tamil Nadu and another over Rayalaseema & adjoining north Tamil Nadu, along with a trough running from south Chhattisgarh to the Comorin area. Over the next 7 days, widespread light to moderate rainfall with thunderstorms, lightning, and gusty winds (40-50 kmph) is expected over Tamil Nadu, Puducherry, Karaikal, Kerala, Mahe, Lakshadweep, south Karnataka, while Coastal Andhra Pradesh, Yanam, Telangana, and Rayalaseema may experience isolated to scattered rainfall with similar weather conditions. Also read: Kerala to receive heavy rains; IMD issues red alert in some districts for May 19, 20

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PGA Championship witnessed anarchic scenes on Friday. An early morning accident at the venue cost John Mills, a security worker, his life. Around dawn, Scottie Scheffler failed to follow an officer’s instructions to stop, bruising a cop in the process, leading to his arrest and detention.

Mahesh Patil, CIO, Aditya Birla Sun Life AMC, says the market has a tendency to continue with its inherent trajectory based on fundamentals. “Hence, we would not try to time election outcomes and rather focus on stock picking while reducing risk in the portfolio to navigate the volatility due to election outcomes,” he says. Edited excerpts from a chat:

India well positioned to leap ahead of developed worlds with AI: Sundar Pichai He added that despite being "smart", many students fail to focus on the fundamentals. Mayya then asked Pichai to share advise for budding software engineers on how to prepare for the future. Sundar Pichai vows action on OpenAI's Sora YouTube training amid legal storm Citing Aamir Khan's film 3 Idiots, Pichai said, "Real success comes from understanding things in a deeper way".

rebound that has taken the U.S. stock market to record highs this week may have further to run, if history is any guide. Fresh signs of a cooling economy calmed inflation worries in May, helping all three major U.S. stock indexes rise to records this week. The benchmark S&P 500, which fell over 4% in April, is now up 11% year-to-date.

It’s always a question worth asking yourself when you take on a project with a defined end date or completion condition – what’s my endgame here?  When I finish the project, what will happen to me? There are all too many sad stories of bankers who worked allhours to achieve a goal, then found out that once the thing was done, they weren’t needed any more.  Conversely, there are plenty of cases where getting a deal across the line created so much tension and bad blood that it was impossible for the executives involved to go on working together.

OpenAI has effectively dissolved a team focused on ensuring the safety of possible future ultra-capable artificial intelligence systems, following the departure of the group’s two leaders, including OpenAI co-founder and chief scientist, Ilya Sutskever. Rather than maintain the so-called superalignment team as a standalone entity, OpenAI is now integrating the group more deeply across its research efforts to help the company achieve its safety goals, the company told Bloomberg News. The team was formed less than a year ago under the leadership of Sutskever and Jan Leike, another OpenAI veteran.

«Looking at the broader market and the market breadth has improved significantly. Nifty has shown short-covering action and now we are comfortably holding above 22,400 marks. So, looking at this data setup, we are confident that, yes, this rally can extend further,» says Rajesh Palviya, Axis Securities. Going forward, we are getting closer and closer to the elections. Is the volatility likely to continue? What is being pencilled in on the charts for the benchmark indices for next week?

bars, pubs and cafes are capitalising on a surge in interest among fans. The ongoing heatwave means alarge number of cricket enthusiasts are gravitating toward air-conditioned comfort to avoid having to sweat it out in sweltering stadiums, executives said. Bars and pubs said they are rolling out live screenings, trying to replicate a stadium-like atmosphere with curated sports menus, cocktails, beer buckets and staff dressed in IPL jerseys. Some are even providing team apparel and merchandise. To be sure, elections in Mumbai (May 20) and Delhi-Gurgaon (May 25) will mean alcohol-free dry days around those dates in those regions but executives said they expect to make up for that in other states. Besides, folks may be drawn by the group-watching vibe even without the booze, they said.

Vodafone Idea (Vi) CEO Akshaya said the telco is looking at further conversions of government dues into equity as well as internal accruals to address payout obligations toward spectrum and adjusted gross revenue (AGR). The moratorium on these payments ends in September 2025. The statement came during Vi’s FY24 fourth-quarter earnings call Friday. Moondra was responding to a query on Vi’s payment strategy on clearing government liabilities of more than Rs 2 lakh crore relating to spectrum payments and AGR dues. Vi has to pay Rs 29,000 crore in March 2026 and Rs 43,000 crore in March 2027.

The Financial Industry Regulatory Authority Inc. on Thursday penalized a small Los Angeles broker-dealer with a censure and a $50,000 in restitution for a variety of shortcomings including violations of Regulation Best Interest, which in 2020 became the standard of conduct for the more than 300,000 brokers and sales people registered with Finra.

What’s in a number? Especially one like Dow 40,000, which was crossed this week for the first time ever.

Biocon's executive chairperson Kiran Mazumdar-Shaw on Friday said she expects consolidation and acceleration of biosimilar business along with further reduction of debt taken to fund the $3.3-billion acquisition of Viatris biosimilar business to be key priorities in FY25. «FY24 was a very transformational year for us, because we made a very successful transition of the (Viatris biosimilar business) acquisition in a seamless way,» Mazumdar-Shaw said in an interview to ET. «FY25 will be a year of consolidation. It will be a year of acceleration, and of course, we want fiscal stabilization as well, and therefore we're looking at paring down the debt further,» Mazumdar-Shaw added. Biocon has reduced $250 million out of its $1.2 billion debt in FY24.

Reserve Bank of India has urged asset reconstruction companies (ARCs) to follow the regulations in letter and spirit, and directed them to conduct the recovery process responsibly by following transparent and non-discriminatory practices. This was conveyed by senior RBI officials at a closed-door conference the banking regulator held with top management of 27 registered ARCs. RBI deputy governors M Rajeshwar Rao and Swaminathan J gave keynote addresses in the conference, 'Governance in ARCs — Towards Effective Resolutions'. It was attended by senior-most RBI officials and 80 participants from the ARC sector.

₹500 crore from fresh investors as it plans to enter new categories as well as allow early investors to exit. Private equity firm Rabo Equity Advisors, which was the investment advisors for India Agri Business Fund II acquired a minority stake in Cremica for $15 million in June 2016. In 2022, Rabo Equity Advisors—where the Dutch lender Rabo Bank held stake—sold its partnership in India Agri Business Fund to advisory firm Kroll Inc's asset management unit.

Big videogames are sometimes called “forever franchises." That certainly describes the wait for some of them. Gamers have been eagerly awaiting a “Grand Theft Auto" sequel since the last one came out more than 10 years ago. Investors have been even more eager since publisher Take-Two Interactive gave a long-term forecast two years ago that strongly suggested the game could launch in the fiscal year that just ended in March.

Thames Water Utilities Ltd.’s biggest shareholder has written off its investment in the utility in a sign of the escalating financial crisis at the United Kingdom‘s largest water company.

Zydus Lifesciences on Friday reported Rs 1,182 crore net profit in Q4FY24, a threefold year-on-year (YoY) jump led by growth in US, India, Europe and emerging market sales. The Ahmedabad-based drug maker reported net profit of Rs 297 crore in the corresponding period of previous year.