Introduction: Barclays announces £2bn cost-cutting drive as profits drop Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. UK bank Barclays is planning a £2bn cost-cutting drive as it shakes up its operations, and reported a drop in profits for last year. Pre-tax profits at Barclays fell … Read more
As the NPA levels of Indian banks are at multi-year low levels, billionaire banker Uday Kotak believes that most financial institutions now have a clean white shirt after a difficult decade 2009-19. While speaking at the Chasing Growth 2024 Investor Conference organised by Kotak Institutional Equities in Mumbai on Monday, Kotak told investors that the … Read more
The cost of infant milk remains at âhistorically highâ levels despite some price falls in recent months, Britainâs competition watchdog has said, as it launched a full-scale investigation into baby and toddler formula. The Competition and Markets Authority (CMA) found in November that the average price of infant formula had risen by 25% in the … Read more
Shares of debt-ridden Zee Entertainment Enterprises Ltd (ZEEL) rallied over 7% to the day’s high of Rs 192 on Tuesday as the media house re-initiated talks for a merger with Sony Group after the $10 billion deal was cancelled last month. In a fresh dramatic twist, which is no less than an unending soap opera, … Read more
Be flexible Being flexible about destinations, and when you go, is a good way to save, says Rory Boland, travel editor at consumer group Which?. “Our research has pointed to Turkey as a cost-effective option for luxury all-inclusive stays,” he says. “For example, you can get a five-star hotel in Turkey for the cost of … Read more
Mobile phones will be prohibited in schools across England under new government guidance issued on Monday. The guidance by Rishi Sunak government supports headteachers in monitoring the use of mobile phones throughout the school day, including break times. The new policy aims to ensure a consistent approach across all schools in the country. Schools will … Read more
People living in Notting Hill, west London, received more in capital gains from 2015 to 2019 than the combined population of Liverpool, Manchester and Newcastle according to an analysis of capital gains tax. Analysis of anonymised personal tax returns found that 97% of the population never receive any capital gain, and those that do are … Read more
A Walmart in Atlanta, Georgia, on Sunday, Feb. 19, 2023. Dustin Chambers | Bloomberg | Getty Images Walmart will report its holiday quarter results on Tuesday morning, as investors try to get a clearer picture of what the year ahead holds for retailers and the U.S. economy. Here’s what Wall Street analysts expect, according to … Read more
Indian market is likely to consolidate on Tuesday tracking mixed global cues. The Nifty future closed positive with gains of 0.32% at 22167 levels on Monday. India VIX moved up by 5.22% from 15.22 to 16.02 levels. Volatility slightly rose but created momentum for the bulls. Positive setup was seen in stocks like GMR Infra, … Read more
Distressed debt aggregator Acre Asset Reconstruction Company (ARC) has put Nagarjuna Fertilizers and Chemicals on the block less than a year after taking over the ₹3,858 crore debt of the company. Acre is seeking ₹1,600 crore from bidders – double the ₹811 crore it paid to a seven-bank consortium in March last year, documents accessed … Read more
