Category: Business

Asian stocks traded mostly lower on Wednesday as investors reacted to the hawkish FOMC minutes and Nvidia’s earnings results released after the U.S. closing bell. The U.S. chip giant posted better-than-expected fiscal third-quarter results, but warned export restrictions on China would weigh on its fiscal fourth quarter. The dollar index held around 2-1/2-month lows and […]

As a four-day truce between Israel and Hamas entered its final day on Monday, both sides have given indications that they are ready for an extension in fighting, reports say. Israeli government has offered to add an extra day in truce if Hamas releases additional 10 hostages each day. Hamas responded by saying it is […]

With mortgage rates approaching 8 percent earlier this month, the National Association of Home Builders released a report on Thursday unexpectedly showing a continued deterioration in U.S. homebuilder confidence in the month of November. The report said the NAHB/Wells Fargo Housing Market Index slumped to 34 in November from 40 in October, while economists had […]

UPL, the country’s largest agrochemical company, had a weak July-September quarter (Q2), reporting a sharp fall in revenues across geographies. Overall, the revenues were down 19 per cent on the back of lower agrochemical prices and inventory destocking. While the overall volumes were down 7 per cent, prices fell by 15 per cent. Volume decline […]

Corporate earnings got a big boost from the fall in commodity and energy prices in July-September 2023 (Q2FY24) despite a slowdown in revenue growth during the quarter. The combined net profits of 3,123 firms that have declared their results so far were up 38 per cent year-on-year (Y-o-Y) to Rs 3.07 trillion in Q2FY24, up […]

The supply chain for fast-moving consumer goods (FMCG) companies is seeing congestion due to persistently low demand. This has led to an increase in inventory days, with stocks accumulating at distributors and compelling them to extend higher credit periods to retailers. Distributors, Business Standard spoke to, revealed that demand inventory days have more than doubled […]

She has always kept an eagle eye on her credit card repayments, but a single, older woman didn’t realise that the date when she made them was just as important – and that almost cost her dear. As cash reserves shrink amid the relentless struggle to cope with cost-of-living pressures, juggling repayment times has become […]

‘The fact still remains that we will have to deliver, so the pressure is now on us to make sure we get our resources, our supplies lined up at acceptable costs.’ Larsen & Toubro (L&T) has reported a new high in terms of order book and order inflows for the September quarter. R Shankar Raman, […]

Japanese conglomerate Toshiba Corp., which is going private, on Tuesday reported a loss in its second quarter, compared to prior year’s profit, while operating profit climbed from last year. Net sales also declined from the previous year with weak performance in many of its segments. Looking ahead for fiscal year 2023, the company now expects […]

German autoparts maker Continental AG Monday announced its plans to cut thousands of jobs in its automotive unit as part of its efforts to strengthen the sector’s competitiveness. Continental said its Automotive sector is simplifying and streamlining business and administrative structures. With the planned measures in the administrative structures, Continental is aiming to ease the […]