CATEGORIES

ECB raises rates by 25 basis points, signals 'not pausing'

THE EUROPEAN CENTRAL Bank raised interest rates by 25 basis points to 3.25% as expected on Thursday and signalled that more tightening would be needed to tame inflation.

Fed can't shield US economy from debt default: Powell

FEDERAL RESERVE CHAIR Jerome Powell said the failure to raise the US government debt limit would be unprecedented and have highly uncertain and negative effects on the economy.

SC refuses early hearing of RCap insolvency plea

LENDERS WANT EARLY DATE TO FAST-TRACK PROCESS

Dabur Q4 profit falls marginally

HOMEGROWN FMCG MAJOR Dabur India on Thursday reported a marginal decline in its consolidated net profit to ₹292.76 crore for the fourth quarter ended March 2023.

Hero profit jumps 37%, beats Street

REVENUES ABOVE ESTIMATES TOO

Tata Power Q4 profit jumps 49%

TATA POWER ON Thursday posted a 48.58% rise in consolidated net profit to ₹939 crore for the fourth quarter ended March, beating Street estimates, led by growth across all its business verticals. In comparison, the company had posted a net profit of ₹632 crore a year ago.

Retail auto sales in April fall for first time in 8 months

THE PASSENGER VEHICLE (PV) segment, comprising cars and SUVs, showed clear signs of demand slowdown in April with retail volumes falling for the first time in eight months, weighed down by rising prices, high-interest rates and advancement of purchases to March.

Adani Enterprises profit more than doubles in Q4

PAT jumps 140% on strong revenue growth in March quarter

Cognizant to lay off 3,500 employees

REVENUES DECLINING FOR PAST 3 QUARTERS

5-day working week for banks some time away

A FIVE-DAY WORKING week at banks may still be some time away. While an in-principle agreement has been reached between the Indian Banks' Association and public sector bank unions, a broader consensus will have to be reached with private sector banks and cooperative banks before this can be implemented, sources indicated.

Govt amends power policy draft to halt new coal-fired capacity

THE GOVERNMENT PLANS to stop building new coal-fired power plants, apart from those already in the pipeline, by removing a key clause from the final draft of its National Electricity Policy (NEP), in a major boost to fight climate change, sources said.

Premium on green bonds in FY24 key to future issuances

THE CENTRE MAY tweak sovereign green bond issuances if the 'greenium' to be offered on such bonds in FY24 is not attractive, a senior government source said.

Falling G-Sec yields: Govt sees borrowing costs moderating

Expects 10-year yield to trend below 7%

Strict PMLA norms now for chartered accountants as well

CHARTERED ACCOUNTANTS, COMPANY secretaries and cost & works accountants will now have substantial additional compliance burden under the reinforced Prevention of Money Laundering Act, 2002, and could be prosecuted under its stringent provisions for any lapses.

BofA sees 40% cut in earnings estimates

THE STREET'S OPTIMISTIC earnings growth estimates for FY24 and FY25, of 17% and 16% respectively, for the Nifty set of companies could be cut by 40%, Bank of America (BofA) Securities said on Thursday citing, among other factors, a recession in the US. The brokerage noted there were already signs of earnings weakening in the wake of the global slowdown.

Asset recycle: NHAI targets ₹45,000 crore this fiscal

More than three times funds raised in FY23

NCLT reserves order on Go First plea

Tells airline IBC has no provision for interim relief

Sebi shocker for law firms handling IPOs

Offer papers a key marketing tool for lawyers at present

Indian M&E sector crossed ₹2-trillion revenue mark in '22

To touch ₹2.8 trn by 2025, says report

JSW Steel arm to invest $145 million to upgrade US plant

JSW STEEL USA, SW Steel USA Ohio, a subsidiary of JSW Steel, will invest $145 million (about ₹1,200 crore) to upgrade its plant in Mingo Junction, Ohio.

Manappuram Finance shares plunge 12%

ED CONDUCTS SEARCHES

NIMS to moderate as high CD ratio not sustainable

Top private banks report PAT growth of between 20% & 46%

Google promised to defund climate lies, but ads keep coming

IN OCTOBER 2021, Google promised to stop placing ads alongside content that denied the existence and causes of climate change, so that purveyors of the false claims could no longer make money on its platforms, including YouTube.

Ajay Banga becomes 1st Indian-American to head World Bank

AJAY BANGA WAS on Wednesday appointed as the next President of the World Bank, becoming the first-ever Indian-American to head the global financial institution which said it looks forward to working with him at a time when it's tackling the toughest development challenges facing developing countries.

Hindenburg report: Icahn loses $10 bn

CORPORATE ACTIVIST CARL Icahn's fortune tumbled more than $10 billion Tuesday after shortseller Hindenburg Research accused him of using a \"ponzi-like\" economic structure at his investment company.

Ukraine tried to kill Putin with drone attack on Kremlin: Russia

Ukraine junks claim as Moscow says it has the right to retaliate

Pricing forbearance in broadcasting is need of the hour, says Trai chief

THE TELECOM REGULATORY Authority of India (Trai) on Wednesday batted for pricing forbearance in the broadcasting sector similar to the telecom segment where tariffs are decided by the companies operating in the market.

Banks may resort to higher provisioning for Go First

LENDERS OF LOW-COST airline Go First went into a huddle on Wednesday after it declared that it is seeking a resolution under the National Company Law Tribunal (NCLT). Sources said lenders held internal meetings to assess the situation. A meeting of all the lenders is likely to happen soon, three senior bankers said.

Credit Suisse wants RCap insolvency to be put on hold

CREDIT SUISSE GROUP AG, a financial creditor to Reliance Capital (RCap), wants the former Anil Ambani group firm's insolvency process to be put on hold till its claims are settled. The company had earlier moved the bankruptcy court seeking ₹660 crore of dues, after the resolution professional rejected it.

SpiceJet to revive 25 grounded jets

Low-cost carrier has mobilised ₹400 crore for the plan so far