Introduction: Anglo American rejects BHP’s takeover approach Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. Miner Anglo American has rebuffed a takeover proposal from its larger rival BHP Group, declaring that the £31.1bn offer is “opportunistic” and “significantly” too low. A day after the mining sector … Read more
Shares of IT major Tech Mahindra today hit the 10% upper circuit limit at Rs 1,242.4 on BSE despite reporting a 41% year-on-year (YoY) drop in its March quarter profit as investors appreciated new CEO Mohit Joshi’s FY27 strategy to take the company ahead of peers’ average growth and to a 15% EBIT margin. While … Read more
Some Barclaycard customers who only make the minimum repayment each month will take an extra decade to clear their debt and pay hundreds of pounds in extra interest after the credit card provider changed its terms. Barclaycard – thought to be the UK’s biggest credit card provider – has written to customers telling them it … Read more
Shares of Dalal Street’s old warhorse Bajaj Finance on Friday fell up to Rs 6,790 on BSE as investors were left unimpressed with its Q4 results and worried that it could be even weaker. Motilal Oswal downgraded the stock to neutral with a target price of Rs 7,800 saying that the management’s guidance for FY25 … Read more
Under capitalism, prices are supposed to be the centre of everything. They are the key agreement between buyer and seller. They are the one clear and reliable piece of information, on which the whole often opaque and unstable system depends. So it struck me as strange when some of my local London shops stopped displaying … Read more
The Reserve Bank of India has announced the auction for the sale of Government Securities worth Rs 32,000 crore. The auction is scheduled to take place on Friday and it aims to facilitate the sale (re-issue) of Government Securities through a multiple price-based method. The primary dealers can submit their bids electronically through the E-Kuber … Read more
A serious escalation of tensions in the Middle East would push the price of oil above $100 (£80) a barrel and reverse the recent downward trend in global inflation, the World Bank has said. The Washington-based institution said the recent fall in commodity prices had been levelling off even before the recent missile strikes by … Read more
Jonathan Hunt, MD & CEO, Syngene International, says the company deployed $55 million last year. Next year, they will be a little bit ahead of that – about $60 million. There are the usual themes within their business – automation, digitisation, improving productivity through an upgrading of technologies. About half of that should go towards … Read more
MPs have cast doubt over the UK government’s readiness for post-Brexit border control checks, which are due to come in next week, arguing that a scaling back of its plans appeared to represent a sixth delay to their long-awaited introduction. The environment, food and rural affairs select committee (EFRA) has written to the government demanding … Read more
Nifty ended April derivative series higher by 1.1% in which market-wide rollovers were marginally higher as compared to the previous month and stood at 93.2% vs 92.9% last expiry. Thursday’s session saw Kotak Mahindra Bank shares ending 11% lower at Rs 1,643 on NSE while Hitachi Energy India shares ended nearly 14% up at Rs … Read more
