US consumer confidence weakened in May as concerns grew over inflationary pressures linked to the Iran conflict. Households also remained largely pessimistic about labor market conditions, although many expected improvement later in the year. Investors are now awaiting comments from Federal Reserve officials, including Philip Jefferson and Lisa Cook, for further clues on how inflation…
MUMBAI: Sebi is pushing ahead with bond market reforms with plans for bond tokenisation pilots and a new regulatory framework for debt brokers, as it seeks to deepen corporate debt markets beyond their current narrow base of issues and investors. The regulator is looking at easing disclosure norms for debt-only issues.Noting that financing for business…
MUMBAI: The insurance regulator has directed insurers to realign how senior executives are evaluated and paid, linking performance more closely to customer outcomes, transparency, and governance, under a revised framework issued through a circular dated May 25.The Insurance Regulatory and Development Authority of India (Irdai) said insurers must align the performance parameters of key management…
MUMBAI: Cash logistics companies, which replenish ATMs, have approached banks seeking measures to offset a sharp rise in operating costs, warning that a combination of fuel inflation, wage hikes and compliance expenses could push industry costs up by 15-20% in the near term. An increase in fees is likely to require a revision in ATM…
NEW DELHI: India and Canada are looking at concluding the negotiations for a free trade agreement by end of this year, commerce and industry minister Piyush Goyal has said. Goyal is in Canada for a three-day official visit, starting May 25. “Our Prime Minister has tasked us not only with completing the free trade agreement…
NEW DELHI: Maruti Suzuki on Tuesday rolled out a series of austerity measures for employees and business partners, to formally respond to Prime Minister Narendra Modi’s call to conserve fuel and reduce foreign exchange spending amid the ongoing West Asia conflict.In a post on X, the country’s largest carmaker said management should conduct business in…
NEW DELHI: The new index of industrial production (IIP) series, having 2022-23 as base year, is set to track for first time the output of rare earths and minor minerals, piped natural gas (PNG), water supply, sewerage and waste management — the Technical Advisory Committee (TAC) constituted to undertake base year revision under IIM Kozhikode…
MUMBAI: Tata Sons chairman N Chandrasekaran presented a three-year roadmap to narrow losses in the company’s new businesses at a marathon board meeting on Tuesday, even as his reappointment remains unresolved.The meeting, held at Tata Group headquarters Bombay House, covered three of the businesses – Air India, Tata Digital and Tata Electronics – reflecting the…
CHENNAI: JK Tyre has announced one of the largest capacity expansion programmes among Indian tyre manufacturers, despite concerns over the impact of the West Asia crisis on raw material prices. The company has earmarked Rs 4,980 crore to expand the capacities of its truck and bus radial (TBR) and passenger car radial (PCR) tyre businesses…
LONDON: Temperature records toppled as a spring heat wave continued to scorch parts of Western Europe on Tuesday, triggering government warnings about risks to life. Several drownings were reported in Britain and France as people tried to cool down. London recorded a rare “tropical night”, defined as one in which the temperature does not fall…