BUSINESS
More layoffs, losses as US union expands strike against 'Big Three' automakers
The union on Tuesday organised its 5,000 member workers at GM's full-size SUV plant in Arlington, Texas, to strike, reports Xinhua news agency. The plant builds the Detroit automaker's most expensive vehicles such as the Chevrolet Tahoe and Suburban, the GMC Yukon and Yukon XL, and the Cadillac Escalade and Escalade-V.
Bitcoin rocketing higher, topping $35,000 for the first time since May 2022
The famously volatile cryptocurrency has more than doubled in value this year as investors grow excited about the prospect of being able to buy bitcoin funds that trade on good old-fashioned stock exchanges rather than having to deal with less-regulated and sometimes sketchy crypto platforms
Banks adopt divergent strategies to boost deposits than just rate: Jefferies
Analysing the balance sheets of various banks for FY23, Jefferies said that banks are following divergent strategies to lift their deposit growth and not just depending on interest rate hikes.
India poised to surpass Japan to become world’s 3rd largest economy by 2030: S&P
“India's nominal GDP measured in USD terms is forecast to rise from $3.5 trillion in 2022 to $7.3 trillion by 2030.
Pakistan’s national airlines runs out of fuel, cancels several international and domestic flights
At present, PIA is operating with a meager fleet of just 16 aircraft. This partial state-owned airline, currently undergoing privatization discussions within the caretaker government, has found itself entangled in a complicated dispute with the Pakistan State Oil (PSO) refinery, its fuel supplier. This predicament arises from the non-payment of dues and the deterioration of its credit line.
Reliance Industries nearing deal to buy Walt Disney’s India ops
The US entertainment giant might sell a controlling stake in the Disney Star business, which it values at around $10 billion, as opposed to piecemeal transactions weighed earlier, Bloomberg reported.
Chevron to buy rival Hess for $53 billion in yet another oil industry consolidation deal
Cash-rich oil giants are taking advantage of high prices and surging profits to snap up assets and boost returns for shareholders even as pressure builds for them to invest more in renewable energy.
IREDA clocks 54% jump in net profit for July-September quarter
Government-owned mini-ratna company, the Indian Renewable Energy Development Agency (IREDA), on Monday announced a 54% jump in net profit to Rs 284.7 crore for the July-September quarter of the current financial year compared to the corresponding figure of Rs 184.3 crore in the same quarter of the previous year.
Gold expected to trend higher amid geopolitical uncertainty
Contrary to the usual trend of gold moving up significantly in the weaker dollar scenario, the safe haven status has assumed significance despite a strong dollar scenario, the report said.
Nifty nosedives to 3-month low; small & mid-caps fall sharply
Nifty nosedived 261 points (-1 per cent) to close at a three-month low of 19,281.75, said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services.
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