A group of homeless people in Portland, Oregon, has filed a class action lawsuit challenging new restrictions the city placed on daytime camping in an attempt to address safety issues stemming from a crisis of people living on the streets
from ABC News: US https://ift.tt/eIPROrQ
via
Saturday, 30 September 2023
UN to vote on resolution to authorize one-year deployment of armed force to help Haiti fight gangs
The U.N. Security Council is scheduling a vote for Monday on a resolution that would authorize a one-year deployment of an international force to help Haiti quell a surge in gang violence and restore security so the troubled Caribbean nation can hold l...
from ABC News: US https://ift.tt/IFYpXQh
via
from ABC News: US https://ift.tt/IFYpXQh
via
Friday, 29 September 2023
Louisiana citrus farmers are seeing a mass influx of salt water that could threaten seedlings
Senate confirms Mississippi US Attorney, in charge of welfare scandal prosecution
Georgia judge declines to freeze law to discipline prosecutors, suggesting she will reject challenge
Looming shutdown rattles families who rely on Head Start program for disadvantaged children
Thursday, 28 September 2023
Former lawmaker who led Michigan marijuana board is sent to prison for bribery
Drive a Hyundai or Kia? See if your car is one of the nearly 3.4 million under recall for fire risks
North Carolina's governor vetoes bill that would take away his control over election boards
Wednesday, 27 September 2023
Fiancée remembers slain California deputy's goodbye kiss days after they got engaged
Mississippi activists ask to join water lawsuit and criticize Black judge's comments on race
Biden isn't paying much attention to the 2024 GOP debate. He's already zeroing in on Trump
Meta CEO Mark Zuckerberg kicks off developer conference with focus on AI, virtual reality
University of the People founder and Arizona State professor win Yidan Prize for education work
Shai Reshef, president and founder of the online, tuition-free University of the People, and Arizona State professor and researcher Michelene Chi, who has developed a framework to improve how students learn, are the 2023 winners of The Yidan Prize, the...
from ABC News: US https://ift.tt/K6JnCt9
via
from ABC News: US https://ift.tt/K6JnCt9
via
Tuesday, 26 September 2023
Stock market today: Wall Street falls sharply as its September slump gets even worse
Commander Biden bites another Secret Service employee at the White House
Less-redacted report on Maryland church abuse still redacts names of church leaders
California education chief Tony Thurmond says he's running for governor in 2026
Prosecutor says theory that 2 slain Indiana teens died in ritual sacrifice is made for social media
Monday, 25 September 2023
New book alleges Trump's ex-chief of staff's suits smelled 'like a bonfire' from burning papers
Video shows California deputy slamming 16-year-old girl to the ground
Trump campaigns in South Carolina after a weekend spent issuing threats and leveling treason claims
Bahrain military says Yemeni rebel drones kill a Bahraini officer and soldier on Saudi border
Sunday, 24 September 2023
Residents prepare to return to sites of homes demolished in Lahaina wildfire
After climate summit, California Gov. Gavin Newsom faces key decisions to reduce emissions back home
Toddler, 2 adults fatally shot during argument over dog sale, authorities say
California Gov. Gavin Newsom signs bills to enhance the state's protections for LGBTQ+ people
Hazing lawsuit filed against University of Alabama fraternity
Missouri says clinic that challenged transgender treatment restrictions didn't provide proper care
Missouri officials struck back at one of the clinics that unsuccessfully challenged new state restrictions on gender affirming care by filing a new lawsuit accusing the clinic of failing to provide proper care for transgender minors even before the new...
from ABC News: US https://ift.tt/fX1Z8Rv
via
from ABC News: US https://ift.tt/fX1Z8Rv
via
President Emmanuel Macron says France will end military presence in Niger and pull ambassador from country after coup
Saturday, 23 September 2023
Many states are expanding their Medicaid programs to provide dental care to their poorest residents
A Black student was suspended for his hairstyle. Now his family is suing Texas officials
Biden has gotten the updated COVID-19 vaccine and the annual flu shot, the White House says
Russian foreign minister lambastes the West but barely mentions Ukraine in UN speech
Minnesota's would-be head of cannabis regulation quits amid reports she sold illegal products
With House Republicans in turmoil, colleagues implore GOP holdouts not to shut down government
California governor vetoes bill requiring custody courts to weigh affirmation of gender identity
Friday, 22 September 2023
Back at old job, Anthony Mackie lends star power to New Orleans' post-Ida roof repair effort
Fatal collision that killed 2 pilots brings a tragic end to the Reno air show and confounds experts
New York to require flood disclosures in home sales as sea levels rise and storms worsen
Who's Bob Menendez? New Jersey's senator charged with corruption has survived politically for years
Thursday, 21 September 2023
The US is allowing hundreds of thousands of Venezuelans in the country to work legally
Supreme Court to decide whether Alabama can postpone drawing new congressional districts
Alex Murdaugh pleads guilty in federal court to financial crimes. It’s the first time he’s admitted blame before a judge
1 killed, multiple people hurt as bus carrying children crashes on New York highway, police say
Wednesday, 20 September 2023
Ukraine's president, at Security Council, lashes out at Russia but avoids face-to-face encounter
Surveillance video prompts Connecticut elections officials to investigate Bridgeport primary
Surveillance videos of a woman making multiple early morning trips to stuff paper inside an absentee ballot drop box prompted Connecticut election officials Wednesday to open an investigation into possible fraud in the mayoral primary in Bridgeport, th...
from ABC News: US https://ift.tt/gdaWyw9
via
from ABC News: US https://ift.tt/gdaWyw9
via
US Federal Reserve Holds Interest Rates At 22-Year High
The US Federal Reserve voted Wednesday to keep interest rates at a 22-year high, while forecasting an additional rate hike before the end of the year to bring down inflation.
The Fed's decision to keep its key lending rate between 5.25 percent and 5.50 percent gives policymakers time to "assess additional information and its implications for monetary policy," the central bank said in a statement.
After 11 interest rate hikes since March last year, inflation has fallen sharply but remains stubbornly above the Fed's long-run target of two percent per year -- keeping pressure on officials to consider further policy action.
On Wednesday, the Fed said economic activity had been expanding "at a solid pace," while noting strong job gains and a low unemployment rate.
A recent string of positive economic data has raised hopes that policymakers can slow price increases without triggering a damaging recession.
Alongside its interest rate decision, the rate-setting Federal Open Market Committee (FOMC) also updated members' forecasts for a range of economic indicators, as well as expectations of future monetary policy.
FOMC members left the median projection for interest rates between 5.50 percent and 5.75 percent, keeping alive the possibility of another quarter percentage point hike before year-end.
They also lifted expectations for interest rates next year by half a percentage point, suggesting the Fed anticipates rates will have to stay significantly higher for longer in order to lower inflation to target.
FOMC members more than doubled the median projection for economic growth this year as well to 2.1 percent, from 1.0 in June, and sharply raised their forecast for next year.
The prediction for the unemployment rate in 2023 was lowered slightly from June, suggesting the jobs market is faring better than hoped, while the expectation for headline inflation was increased slightly.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
from NDTV Profit-Latest https://ift.tt/OTA6QyJ
via
Court Orders Probe Agency To Reply To Naresh Goyal's Plea Challenging Arrest
The Bombay High Court on Wednesday directed the Enforcement Directorate (ED) to file its affidavit in response to Jet Airways founder Naresh Goyal's plea challenging his "illegal" arrest in a money laundering case linked to bank loan default.
Goyal, in his plea, claimed his arrest was illegal as it was done without following provisions of the Prevention of Money Laundering Act (PMLA) and also challenged orders of a special court which had sent him to the ED custody first and thereafter to jail under judicial remand.
When the plea was taken up for hearing on Wednesday by the HC, advocate Hiten Venegaonkar, appearing for the central agency, sought time to file their reply affidavit.
Senior counsel Amit Desai, appearing for the 74-year-old businessman, urged the court to grant a short date for hearing and pointed to his client's advanced age.
A division bench of Justices Revati Mohite Dere and Gauri Godse then said it has to give the other side time to respond.
"He (Goyal) can file for bail. That liberty is there... ED may challenge this plea (filed by Goyal in HC) on maintainability itself," Justice Dere noted.
The bench posted the matter for hearing on October 6 by when the financial crime-fighting agency has to file it affidavit.
Goyal is currently in judicial custody and lodged at Arthur Road Jail in Mumbai after arrest in the money laundering case linked to an alleged fraud of Rs 538 crore at Canara Bank.
The septuagenarian businessman, who once operated India's top private airline, was arrested by the ED on September 1 and produced before a special court which remanded him to custody of the central agency till September 14.
On September 14, he was remanded to judicial custody for two weeks.
Goyal, in the plea, said his arrest was arbitrary, unwarranted and done without the ED following proper procedure. He sought to be released immediately.
The money laundering case stems from an FIR of the Central Bureau of Investigation (CBI) against Jet Airways, Goyal, his wife Anita and some former company executives of the now grounded airline in connection with the alleged Rs 538-crore fraud at Canara Bank, a government lender.
The FIR was registered on the bank's complaint which alleged that it sanctioned credit limits and loans to Jet Airways (India) Ltd to the tune of Rs 848.86 crore of which Rs 538.62 crore was outstanding.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
from NDTV Profit-Latest https://ift.tt/dbNBJgf
via
Tuesday, 19 September 2023
West Point sued over using race as an admissions factor in the wake of landmark Supreme Court ruling
After 12 years without an execution, South Carolina says it has secured drugs to resume lethal injections
Monday, 18 September 2023
Iran's president denies sending drones and other weapons to Russia and decries US meddling
Canada expels top Indian diplomat as it investigates whether India is linked to slaying of a Sikh activist
Former Missouri police officer who shot into car gets probation after guilty plea
States Shifting To Old Pension Scheme Major Step Backwards: RBI Article
States reverting to the old pension scheme is a "major step backwards" and may take the fiscal stress of states to "unsustainable levels" in the medium to long term, according to an article by RBI staffers.
The article by Rachit Solanki, Somnath Sharma, RK Sinha, SR Behera and Atri Mukherjee said the cumulative fiscal burden in the case of the Old Pension Scheme (OPS) could be as high as 4.5 times that of the New Pension Scheme, which was implemented over a decade ago as part of pension reforms.
The views expressed in the research paper are not that of the Reserve Bank of India (RBI).
Recently, Rajasthan, Chhattisgarh, Jharkhand, Punjab and Himachal Pradesh have announced reversal to the OPS from NPS, the article said.
The OPS has Defined Benefits (DB) while the NPS has defined contributions, the article said, adding that while the OPS has a short term allure, the same poses challenges in the medium to long term.
"...short run reduction in states' pension outgo which may be driving decisions to restore OPS, would be eclipsed by the huge rise in future unfunded pension liabilities in the long run," it said.
"States' reverting to the OPS would be a major step backwards and can increase their fiscal stress to unsustainable levels in the medium to long term," the article warned.
The immediate gain for states shifting back to the OPS is that they will not have to spend on the NPS contribution of the current employees, but in the future, the unfunded OPS is likely to exert "severe pressures" on their finances, it said.
States will save only 0.1 per cent of GDP in yearly pension outgo by reverting to the OPS till 2040 but would be required to incur an average additional increase in pension expenditure by 0.5 per cent of yearly GDP post 2040.
It said several developed economies with DB schemes in the past have faced rising public expenditure due to the rising life expectancy of its citizens, and the changing demographic profile and rising fiscal costs have compelled several economies around the world to re-examine their pension schemes.
"Any reversion to the OPS by the states would be fiscally unsustainable, though it may result in an immediate fall in their pension outgo," the article said.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
from NDTV Profit-Latest https://ift.tt/FMxde5r
via
Couple, 2 children and 3 dogs found shot to death in suburban Chicago home
Sunday, 17 September 2023
Los Angeles Dodgers clinch 11th NL West title in 12 years with 6-2 win over Seattle Mariners
Search on for a missing Marine Corps fighter jet in South Carolina after pilot safely ejects
World War I-era plane flips onto roof trying to land near Massachusetts museum
Former Colorado officer gets probation for putting woman in police vehicle that was hit by a train
Saturday, 16 September 2023
A preacher to death row inmates says he wants to end executions. Critics warn he's only seeking fame
Caught in a lie, CEO of embattled firm caring for NYC migrants resigns
Friday, 15 September 2023
Michigan man cleared of killing 2 hunters to get $1 million for wrongful convictions
At the request of Baghdad, UN will end in 1 year its probe of Islamic State extremists in Iraq
Tata Steel, UK Announce 1.25 Billion Pound Joint Investment Plan
The United Kingdom on Friday announced a joint investment package with Tata Steel worth 1.25 billion pounds, including a government grant of 500 million pounds, for the country's largest steelworks in Wales that will help protect thousands of jobs and boost the British economy.
The government's grant has been dubbed as one of the largest British government support packages in history and a "defining moment" for the country's steel industry.
As part of the agreement, the Indian steel giant is expected to invest GBP 1.25 billion, including the government grant, in a new electric arc furnace and related facilities for greener steel production at Port Talbot in South Wales, currently the UK's largest single carbon emitter.
"This investment will modernise and secure a more sustainable future for the UK steel industry.
"It will also protect thousands of skilled jobs in the long-term and help grow the economy," UK Prime Minister Rishi Sunak said in a post on social media platform X.
Tata Steel UK employs over 8,000 people, including at Port Talbot, which was under serious threat without substantial investment. The company also supports around 12,500 further jobs in the upstream supply chain.
The Department for Business and Trade (DBT) on Friday said the proposal, which is subject to information and consultation processes led by Tata Steel, has the potential to safeguard over 5,000 jobs across Britain.
"The UK government is backing our steel sector, and this proposal will secure a sustainable future for Welsh steel and is expected to save thousands of jobs in the long term," UK Business and Trade Secretary Kemi Badenoch said.
According to her, this is a historic package of support from the UK government and will not only protect skilled jobs in Wales but also "grow the UK economy, boost growth and help ensure a successful UK steel industry".
Tata Steel and the UK government have announced a joint agreement on a proposal to invest in state-of-the-art electric arc furnace steel making at the Port Talbot site with a capital cost of 1.25 billion pounds, inclusive of a grant from the government of up to 500 million pounds, the company said in a statement.
The new electric furnace is to replace the existing coal-powered blast furnaces, which are nearing the end of their effective life, and reduce the UK's entire carbon emissions by around 1.5 per cent as a result.
The proposal is subject to relevant regulatory approvals, information, and consultation processes, and finalisation of detailed terms and conditions.
"The agreement with the UK government is a defining moment for the future of the steel industry and indeed the industrial value chain in the UK," said Tata Group Chairman N Chandrasekaran, who had been working with the government in developing a "transition pathway" for sustainable steelmaking in the UK.
"The proposed investment will preserve significant employment and presents a great opportunity for the development of a green technology-based industrial ecosystem in South Wales. We look forward to working with our stakeholders on these proposals in a responsible manner," he said.
Tata Steel's Chief Executive Officer and Managing Director T V Narendran said the proposed project with one of the largest investments in the UK steel industry in recent decades, provides an opportunity for an optimal outcome for all stakeholders.
"We will undertake a meaningful consultation with the Unions on the proposed transition pathway in the context of future risk and opportunities for Tata Steel UK," Narendran said.
UK Chancellor Jeremy Hunt said the proposal is a landmark moment for maintaining ongoing UK steel production - supporting sustainable economic growth, cutting emissions, and creating green jobs.
Tata Steel UK will now inform and consult with staff and unions on the agreed proposals.
"Unions should have had a seat at the table throughout this process, as it is clear the interests of the workforce have not been considered in the rush to sign off a deal to do decarbonisation on the cheap," the Community steelworkers, which is among those concerned about the arrangements, said.
Stephen Kinnock, Opposition Labour MP for Aberavon which covers Port Talbot, said the investment to decarbonise was long overdue but that he was concerned that ministers did not "adequately consult steel unions".
The UK government said it would also ensure support for any staff affected by the transition, working with the devolved Welsh government and Tata Steel to establish a dedicated transition board to support both affected employees and the local economy with a funding up to 100 million pounds.
"Steelmaking remains a vital part of the Welsh economy and this huge support package from the UK Government ensures that the industry now has a bright future to match its long and proud history in South Wales," Welsh Secretary David T C Davies said.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
from NDTV Profit-Latest https://ift.tt/H4NrdGs
via
Jindal Steel Gets Green Panel Notice Over Worker's Death In Molten Slag Incident
The National Green Tribunal (NGT) has issued a notice to Jindal Steel and Power Limited in connection with the death of a worker after hot or molten slag allegedly fell on him at the company's steel plant in Patrapali village in Raigarh district of Chhattisgarh.
The NGT was hearing an application registered on the basis of a news report published by PTI on August 22 regarding the worker's death.
The application raised an apprehension of non-compliance with environmental laws in the process of disposal of slag, a byproduct of steel manufacturing.
In an order passed on Thursday, a bench headed by NGT Chairperson Justice Prakash Shrivastava said the Chhattisgarh Environment Conservation Board had filed a reply without touching the aspect of handling slag, which was the cause of the accident in the present case.
"In this context, the guidelines prepared by the Central Pollution Control Board (CPCB) to deal with the handling and management of slag generated from pyro-metallurgical operations in iron and steel industries need to be referred," the bench, also comprising judicial member Justice Sudhir Agarwal and expert member A Senthil Vel, said.
"Hence, at this stage, we deem it proper to issue notice. The registry of the tribunal is directed to serve the project proponent i.e, Jindal Steel and Power Limited, Patrapali village, Raigarh," it added.
The principal bench of the green panel said as the matter pertained to the Central Zone bench of the tribunal in Bhopal, it was being transferred for "appropriate further action".
According to police, payload operator Chini Lal Patel died on August 22 due to serious burns after molten slag from the furnace fell on him.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
from NDTV Profit-Latest https://ift.tt/IlY9aeq
via
Thursday, 14 September 2023
Florida man who hung swastika banner on highway overpass is arrested
Repurposing dead spiders, counting cadaver nose hairs win Ig Nobels for comical scientific feats
US casinos have their best July ever, winning nearly $5.4B from gamblers
Police: Suburban Chicago tent collapse injures at least 26, including 5 seriously
Wednesday, 13 September 2023
Biden White House strategy for impeachment inquiry: Dismiss. Compartmentalize. Scold. Fundraise.
UAW chief says offers from Detroit companies are inadequate, says union is ready to go on strike
Police officers arrested after van prisoner was paralyzed seek program to have charges erased
2 men sentenced to life without parole in downtown Pittsburgh drive-by shooting that killed toddler
Adani Enterprises Arm To Build 5.2 MW Wind Turbine Generators
Adani Enterprises Ltd said on Wednesday that its arm Adani New Industries Ltd has received a key international certification and will now be able to start production of 5.2 MW series wind turbine generators for global markets.
The company was so far manufacturing and supplying 5.2 MW Wind Turbine Generators (WTGs) for domestic wind industry players.
"Adani Wind's 5.2 MW WTGs, which are India's largest, have received type certification from WindGuard GmbH. The certification enables Adani Wind to start series production for global markets," Adani Enterprises Limited (AEL) said in a regulatory filing.
Adani Wind is the wind energy solutions division of Adani New Industries Limited (ANIL), a wholly-owned subsidiary of Adani Enterprises Ltd.
The certification to standards relating to equipment for use in renewable energy applications affirms that the company's 5.2 MW WTG meets highest quality and safety standards and provides international recognition to this turbine, the filing said.
"The type certificate reaffirms the quality and robustness of our 5.2 MW WTG platform built to bring down Levelised Cost of Energy," ANIL Director Vneet Jaain said in the filing.
"The certification is a boost to our endeavour of making India the global manufacturing hub for renewable equipment. We are focused on building a portfolio of high-yield next generation wind turbines made in India and are well-poised to cater to the global wind energy demand," he said.
Adani Wind's 5.2 MW wind turbine features a rotor diameter of 160 metres and a tip height of 200 metres, making it one of the most powerful onshore wind turbines in the world, the filing said.
The 5.2 MW WTG is developed by Adani Wind in collaboration with W2E Wind to Energy GmbH, Germany at its plant in Kutch, Gujarat, it added.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)
from NDTV Profit-Latest https://ift.tt/dBa0Jsy
via
Justice Department pushes ahead with antitrust case against Google, questions ex-employee on deals
Tuesday, 12 September 2023
Serial killer and former police officer Anthony Sully dies on death row at a California prison
House passes bipartisan measures targeting Iran over death of Mahsa Amini, missile program
FBI investigates cybersecurity issue at MGM Resorts while casinos and hotels stay open across US
Casino operator MGM Resorts International says resorts are open despite a cybersecurity issue that led to the shutdown of its computer systems across the U.S. The FBI on Tuesday characterized its investigation as ongoing but offered no additional infor...
from ABC News: US https://ift.tt/os3b1Bl
via
from ABC News: US https://ift.tt/os3b1Bl
via
Industrial Production Growth Rises To 5-Month High Of 5.7% In July
India's industrial production growth rose to a five-month high of 5.7 per cent in July, mainly due to good showing by the manufacturing, mining and power sectors, according to the official data released on Tuesday.
The factory output growth measured in terms of the Index of Industrial Production (IIP) stood at 2.2 per cent in July 2022.
The previous high was recorded at six per cent growth in February 2023. Thereafter, the growth rate declined to 1.9 per cent in March 2023 before rising to 4.6 per cent in April and further to 5.3 per cent in May. The IIP growth again decelerated to 3.8 per cent in June this year.
During April-July 2023-24, the IIP growth works out to be 4.8 per cent, down from 10 per cent in the corresponding period a year ago.
"The growth rates over the corresponding period of the previous year are to be interpreted considering the unusual circumstances on account of the COVID-19 pandemic since March 2020," an official statement said.
As per the IIP data released by the National Statistical Office (NSO), the manufacturing sector's output grew 4.6 per cent in July 2023 against 3.1 per cent a year ago.
Power generation rose eight per cent in July 2023 compared to 2.3 per cent in the year-ago period.
Mining output rose by 10.7 per cent during the month under review against a 3.3 per cent contraction a year ago.
As per use-based classification, the capital goods segment grew 4.6 per cent in July this year compared to 5.1 per cent.
Consumer durables output during the month declined by 2.7 per cent against a 2.3 per cent growth in the year-ago period.
Consumer non-durable goods output increased by 7.4 per cent compared to a contraction of 2.9 per cent a year earlier.
Infrastructure/construction goods posted a growth of 11.4 per cent over a 4.8 per cent expansion in the same period a year ago.
The data also showed that the output of primary goods logged 7.6 per cent growth in the month against 2.5 per cent in the year-ago period.
The intermediate goods output in July rose 1.9 per cent from 3.7 per cent growth during the corresponding month last year.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
from NDTV Profit-Latest https://ift.tt/vK8HykA
via
5 former officers charged in death of Tyre Nichols are now also facing federal charges
Monday, 11 September 2023
South Dakota panel denies application for CO2 pipeline; Summit to refile for permit
'Stop Cop City' petition campaign in limbo as Atlanta officials refuse to process signatures
US Firm KKR Invests $250 Million In Reliance Retail
US Investment firm KKR & Co Inc has increased its stake in billionaire Mukesh Ambani's Reliance Retail Ventures by investing an additional $250 million at a valuation of $100 billion, adding to its bet on the country's biggest retailer.
The private equity firm's follow-on investment translates into an additional equity stake of 0.25 percent in Reliance Retail on a fully-diluted basis, taking KKR's total equity stake in the Indian company to 1.42 percent, the retailer said on Monday.
The investment marks growing interest in Mukesh Ambani's retail operations which stretch from groceries to electronics, and include foreign partnerships with brands such as Jimmy Choo, Marks & Spencer and Pret A Manger. It has more than 18,000 stores and also competes with Amazon and Walmart's Flipkart.
In 2020, Reliance Retail raised $5.71 billion by selling a 10.09 percent stake to investors including KKR, the Saudi Public Investment Fund, General Atlantic and the United Arab Emirates' Mubadala.
That year, KKR had invested 55.5 billion rupees ($669.65 million) in Reliance Retail. Ambani recently said the 2020 fundraising valued the business at around $52 billion, and "in less than three years, the valuation of retail has almost doubled."
KKR's latest investment comes primarily from its Asian Fund IV and the transaction is subject to regulatory approvals, Reliance said. Morgan Stanley acted as financial adviser to Reliance Retail.
Reuters exclusively reported this month Reliance was in advanced talks with global investors to raise around $2.5 billion by the end of September, ahead of a potential stock market listing. Mr Ambani said in 2019 that the group planned to list the retail business in five years.
The plan is part of a combined $3.5 billion target the firm set for itself, of which it raised $1 billion from Qatar Investment Authority (QIA) at a $100 billion valuation last month.
Reliance Retail reported a consolidated net profit of 91.81 billion rupees ($1.11 billion) for the financial year that ended in March 2023, on revenue of 2.6 trillion rupees.
Since last year, Reliance has been acquiring dozens of small grocery and non-food brands as it tries to build a consumer business with annual sales of $6 billion within five years to challenge foreign giants like Unilever.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
from NDTV Profit-Latest https://ift.tt/npOuMtw
via
Sandeep Bakhshi Reappointment As ICICI Bank's CEO For 3 years
Private sector ICICI Bank on Monday said the RBI has approved the reappointment of Sandeep Bakhshi as Managing Director and CEO of the private lender for three years.
The reappointment of Sandeep Bakhshi will be effective from October 4, 2023, till October 3, 2026, ICICI Bank said in a regulatory filing.
The bank's shareholders have already approved the appointment of Mr Bakhshi for three more years, it added.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
from NDTV Profit-Latest https://ift.tt/nhQAz2a
via
Sunday, 10 September 2023
Novak Djokovic wins the US Open for his 24th Grand Slam title by beating Daniil Medvedev
Country singer-songwriter Charlie Robison dies in Texas at age 59
Michigan State suspends football coach Mel Tucker pending results of investigation into allegations of sexual harassment
Tribute paid to Kansas high school football photographer who died after accidental hit on sidelines
California school district to pay $2.25M to settle suit involving teacher who had student's baby
Overdose-reversing drug administered to puppy after possible fentanyl exposure in California
Federal railroad inspectors find alarming number of defects on Union Pacific this summer
Saturday, 9 September 2023
Kamala Harris says hip-hop is 'the ultimate American art form' as she hosts a 50th anniversary party
Legal fight expected after New Mexico governor suspends the right to carry guns in public
Friday, 8 September 2023
Missouri constitutional amendment would ban local gun laws, limit minors' access to firearms
A North Dakota man was sentenced to 5 years in prison for running over and killing a teen last year
New Jersey leaders agree with U.S. that veterans homes need to be fixed, but how isn't clear
Officers shoot and kill 'agitated' man in coastal Oregon city, police say
Kroger agrees to pay up to $1.4 billion to settle opioid lawsuits
Adani Group Forms Joint Venture With Japanese Trading House Kowa Group
Billionaire Gautam Adani's group on Friday said it has formed an equal joint venture with Japanese trading house Kowa Group for marketing of green ammonia and green hydrogen produced by the Indian conglomerate.
"Adani Global Pte Ltd, Singapore, a step-down wholly-owned subsidiary of (Adani Enterprises Ltd) has signed a joint venture agreement with Kowa Holdings Asia Pte Ltd, Singapore on September 8," the Adani group flagship firm said in a stock exchange filing.
Adani Group is investing multi-billion dollars in setting up facilities to produce green ammonia and green hydrogen from water.
"Joint venture agreement records the terms of incorporation of a joint venture company in Singapore in accordance with the terms of the agreement for the sales and marketing of green ammonia, green hydrogen and its derivatives produced and supplied by Adani Group, in the agreed territory," it said.
Adani and Kowa will hold a 50 per cent stake each in the joint venture.
No other details were provided by the group.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)
from NDTV Profit-Latest https://ift.tt/fVWIPyt
via
Indianapolis officer gets 1 year in prison for kicking a handcuffed man in the face during an arrest
Thursday, 7 September 2023
Hundreds of military promotions are on hold as a Republican senator demands end to abortion policy
Company pulls spicy One Chip Challenge from store shelves as Massachusetts investigates teen's death
Louisiana grand jury charges 91-year-old disgraced priest with sexual assault of teenage boy in 1975
Supreme Court Justice Kavanaugh predicts "concrete steps soon" to address ethics concerns
Wednesday, 6 September 2023
The UN weather agency says Earth has endured the hottest Northern Hemisphere summer on record
Felony convictions vacated for 4 Navy officers in sprawling scandal
Lee becomes a hurricane as it churns across Atlantic Ocean on a path that will take it near northeast Caribbean
Virginia lawmakers pass long-overdue budget bill with tax rebates, extra aid for schools
Tuesday, 5 September 2023
UN releases $125 million for 14 underfunded humanitarian crises around the world
Trump's comments risk tainting a jury in federal election subversion case, special counsel says
Justice Department special counsel Jack Smith is warning that former President Donald Trump’s “daily” statements risk tainting a jury pool in Washington in the criminal case charging him with scheming to overturn the results of the 2020 presidential el...
from ABC News: US https://ift.tt/eMBVNjU
via
from ABC News: US https://ift.tt/eMBVNjU
via
Tropical Storm Lee forms in Atlantic Ocean and is forecast to become a major hurricane as it approaches the Caribbean
Minnesota seeks unifying symbol to replace state flag considered offensive to Native Americans
Voting rights groups ask to dismiss lawsuit challenging gerrymandered Ohio congressional map
Complaints over campaign comments by Wisconsin Supreme Court justice are dismissed
Open Society Foundations pledge €100 million to start new Roma foundation
Monday, 4 September 2023
As sports betting spikes, help for problem gamblers expands in some states
Defending champion and No. 1-ranked Iga Swiatek loses to Jelena Ostapenko at the US Open
Zheng Qinwen advances to US Open quarterfinals by ousting last year's runner-up, Ons Jabeur
Reshaped Death Valley park could take months to reopen after damage from Hilary
A driver crashed into a Denny's near Houston, injuring 23 people
Police: 5 killed, 3 others hurt in Labor Day crash on interstate northeast of Atlanta
Sunday, 3 September 2023
Biden says he went to his house in Rehoboth Beach, Del., because he can't go 'home home'
5 people have pleaded not guilty to Alabama riverfront brawl charges
Coco Gauff tells coach Brad Gilbert to stop talking during her US Open win over Caroline Wozniacki
Bodies of two adults and two children found in Seattle house after fire and reported shooting
Phoenix man let 10-year-old son drive pickup truck on freeway, police say
Saturday, 2 September 2023
Novak Djokovic comes back after dropping the first 2 sets to beat Laslo Djere at the US Open
'Margaritaville' singer-songwriter Jimmy Buffett, who turned beach-bum life into an entertainment empire, dies at age 76
For at least a day, all the world is 'Margaritaville' in homage to Jimmy Buffett
GOP lawmakers take aim at LGBTQ+ 'safe places' program in small Florida town
Friday, 1 September 2023
DeSantis won't meet with Biden during president's trip to survey Idalia damage
Republican Florida Gov. Ron DeSantis’ office says he has no plans to meet with President Joe Biden when the Democrat flies to Florida this weekend to survey damage from Hurricane Idalia, suggesting that doing so could hinder disaster response because o...
from ABC News: US https://ift.tt/MpeznvH
via
from ABC News: US https://ift.tt/MpeznvH
via
Man convicted of 4-month-old son’s 1997 death dies on Alabama death row
UN chief is globetrotting to four major meetings before the gathering of world leaders in September
Mississippi governor’s brother suggested that auditor praise Brett Favre during welfare scandal
Retail Inflation Expected To Come Down From This Month: RBI Chief
Reserve Bank governor Shaktikanta Das on Friday said the central bank expects retail inflation to start declining from this month. He was referring to the central government's steps to check prices of vegetables like tomatoes, restrictions on export of non-basmati rice and reduction in prices of household LPG cylinders.
Mr Das was addressing a programme organised by Devi Ahilya Vishwavidyalaya in Indore to interact with local students. Earlier, he also attended the central board meeting of the Reserve Bank.
"We expect (retail) inflation to start coming down from September. Although August's (retail) inflation will be very high, we expect inflation to start coming down from September.
Tomato prices have already fallen and retail prices of other vegetables are also expected to come down from this month, he said.
Mr Das said the government has taken several steps to ensure affordable supply of tomatoes and other items of common need to the people.
"Restrictions have been imposed on the export of non-basmati rice. The prices of LPG cylinders used in homes have been cut recently.''
According to government data, retail inflation rose to a 15-month high of 7.44 per cent in July.
"In July, (retail) inflation was at a very high level. This surprised everyone. But mainly due to high prices of tomatoes and other vegetables, we were expecting it to remain high in July."
He asserted that despite all the global challenges, India is among the fastest-growing major economies in the world.
Mr Das said that the position of Indian banks is strong and stable due to strong regulatory measures, "but the domestic financial world always needs to be vigilant".
"You must have seen the failure of some banks in the US recently and big banks like Credit Suisse in Switzerland. But this global turmoil had no impact on India," he said.
Mr Das also said that due to the promotion of digital payments, the number of transactions through UPI in the country crossed 10 billion in August.
The RBI Governor said efforts are being made to promote payments through feature phones in the country so that even those people in remote areas who do not have smartphones and where there is a problem with mobile networks can take advantage of this facility.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
from NDTV Profit-Latest https://ift.tt/LqSnx5J
via
Subscribe to:
Comments (Atom)