UK's sugar tax cut daily intake by 5g in kids, 11g in adults: Study
Introduction of the "sugar tax" in the UK led to a significant reduction of daily sugar intake by around 5 g in children and by around 11 g in... Key Points
The Tribune IndiaLG Energy Solution Q1 profit more than doubles, in line with forecast
South Korea's LG Energy Solution on Wednesday posted a 145% jump in quarterly profit, as the battery maker factored in subsidies from the U.S. Inflation reduction Act and solid sales of electric vehicles (EVs) in U.S. and European markets. Key Points
ReutersCCI seeks comments on framework to offer incentives to cos for identifying other cartel activities
The Competition Commission of India (CCI) has proposed draft leniency plus regulations to encourage companies under investigation for cartelization to provide information about other cartels. The regulations offer incentives such as a reduction in monetary fines of up to 30% for the first cartel and up to 100% for newly disclosed cartels. The aim is to promote fair competition by incentivizing companies to cooperate with antitrust authorities. The CCI has invited stakeholders to submit comments on the draft regulations by November 6. The identity of the applicant and the information provided will be kept confidential. Key Points
Economic TimesReliance Retail to reduce equity share capital, cancelling non-promoter shares
Reliance Retail Limited plans to reduce its equity share capital, subject to approval from shareholders and the National Company Law Tribunal. Shareholders will receive Rs. 1,362 per share as compensation. The company aims to ensure a fair payment based on expert valuation. Key Points
mintCCI releases draft regulations to bust cartels under 'leniency-plus' regime
The Competition Commission of India (CCI) has released draft regulations for a leniency-plus regime, which will incentivise companies involved in cartels to proactively report other cartels they are part of. Under the new regulations, companies can receive a penalty reduction if they share vital information and cooperate fully with the CCI throughout the investigation. Key Points
Economic Times
Railways cuts ticket prices for passenger trains by 50%: Here are details
The Central Railway has announced a reduction in ticket prices to pre-covid levels, providing financial relief to daily commuters. Prices for passenger trains have dropped by approximately 40-50%, with several destinations seeing a reduction to half the previous rates. This move comes after consistent demands from representatives and passenger associations. Key Points
Economic TimesPaytm share tanks 10%, closes at Rs 380
New Delhi: Shares of One97 Communications, which owns the brand Paytm, tanked 10% on the exchanges on Tuesday after RBI ruled out any review of the... Key Points
The Tribune IndiaATF price cut by 4 pc; commercial LPG rate reduced marginally by Rs 1.5 per cylinder
This is the third straight monthly reduction in jet fuel prices. ATF price was cut by almost 6 per cent (Rs 6,854.25 per kl) in November and by Rs 5,189.25, or 4.6 per cent, in December. Key Points
Economic TimesPTC Therapeutics announces job cuts to lower annual operating expenses
PTC Therapeutics (PTCT.O) said on Thursday it plans to cut 25% of its workforce, as the drugmaker aims to reduce its yearly operating expenses. Key Points
ReutersSobha Q4 results: Share price surges over 9% on strong net profit growth
During Q4FY23, Sobha Ltd achieved its highest ever quarterly sales value of ₹1,463 crore, with best average price realization of ₹9,898/sq.ft. and recording highest SBA sales at 1.48 mn sq.ft. Key Points
mint
India's improving savings-investment dynamic amid lower deficits
The current account, reflecting the difference between domestic savings and investments, has seen a significant reduction in India since the taper tantrum, falling from 4.8% of GDP in FY13 to an average deficit of 1.1% per annum from FY14 to FY21. This reduction is attributed to a decrease in investment as a percentage of GDP, outweighing the decline in overall domestic savings. Key Points
Economic TimesATF price cut by 4.6 per cent; commercial LPG rate hiked by Rs 21
Price of domestic LPG remains unchanged at Rs 903 per 14.2-kg cylinder. Jet fuel or ATF price on Friday was cut by 4.6 per cent, the second reduction in a month, Key Points
The Tribune IndiaHome Loan: Save Rs 7.18 lakh on Rs 40 lakh loan with LIC Housing Finance by paying Rs 3,540 online
Interest rate on home loan have risen sharply in last one and half year which has impacted borrowers significantly and they are looking for ways for reduce this burden. LIC Housing Finance is now offering a facility to make online request to interest rate reduction on home loan. Read on to know how this facility works and how you can save big with this option. Key Points
Economic TimesAmazon’s Audible fired over 100 employees
Amazon's Audible division to reduce its workforce by approximately 5 per cent as part of the company's broader efficiency strategy. The move follows similar layoffs in other Amazon units. Key Points
India TodayExit Hikal, rather go for UPL as a long-term buy: Sudip Bandyopadhyay
UPL is a strong buy for long-term investors looking for a stock in the agrochemical industry. The company has experienced a 50% fall in stock value from the top, but this is expected to improve in the second half. UPL is amongst the top five agrochemical companies globally and had reduced and structured its debt. Additionally, it had taken measures such as focusing on cost reduction and inventory liquidation. In contrast, Hikal has experienced many regulatory challenges and struggles with corporate governance issues, and it is therefore not advisable to invest in. Key Points
Economic Times