SQUEEZE
Margin squeeze to dent banks' Q1 profits, loan growth may offer silver lining
Banks' Q1 profits face headwinds: Emkay Global predicts a sluggish 4% growth in pre-provisioning operating profits for the June quarter. This slowdown, affecting private lenders most, is attributed to shrinking margins and rising operational costs.
Rupee squeezed by weak Asia, to be likely boosted by positional flows
Rupee squeezed by weak Asia, to be likely boosted by positional flows
Indians get hooked on 10-minute grocery apps, squeezing small retailers
India's quick commerce boom is reshaping how Indians shop, with Swiggy leading the charge in the fast-paced delivery game. The SoftBank-backed company's grocery warehouse in a middle-class suburb of Mumbai operates precisely, aiming to deliver orders within 10 minutes. Swiggy's bikers, clad in bright orange T-shirts, race against time to collect and deliver packed grocery orders, with the warehouse manager emphasising the need for speed in the entire process.
Indians get hooked on 10-minute grocery apps, squeezing small retailers
India's quick commerce boom is reshaping how Indians shop, with Swiggy leading the charge in the fast-paced delivery game. The SoftBank-backed company's grocery warehouse in a middle-class suburb of Mumbai operates with precision, aiming to deliver orders within 10 minutes. Swiggy's bikers, clad in bright orange T-shirts, race against time to collect and deliver packed grocery orders, with the warehouse manager emphasizing the need for speed in the entire process.
Benny Gantz, man in the middle squeezed out by Israel's Netanyahu
Benny Gantz departure will remove one of the few in Israel's government who still appeared to enjoy the confidence of a U.S. administration whose frustration with Netanyahu has become ever more evident as the war has gone on. Even before the deadline, he had appeared increasingly unhappy with the government, quarrelling over issues ranging from the army leadership to opening a path towards a two-state solution with the Palestinians.
With Ukraine losing ground, allies debate how to squeeze cash for Kyiv out of frozen Russian assets
Ukraine's allies are debating how to use frozen Russian assets to support Kyiv's war effort amid Russia's territorial gains. The issue of $260 billion in Russian assets frozen abroad is a key concern at the G7 meeting in Italy.
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We are expecting copper prices to touch $11,500 in LME: Vandana Bharti, SMC Global
Vandana Bharti expects further upside in base metals with potential Fed rate cuts stimulating economic activity and demand. The de-dollarization trend and high CPI in the US are key factors driving copper and industrial metal prices higher.Bharti says: "We are expecting that in LME we can see a level of $11,500 and on COMEX, we are expecting $5.5 or $5.75 in copper."
IT sweats to eke out margins on pricing squeeze, staff costs
Indian outsourcing companies face a margin squeeze in FY24 due to a triple threat: aggressive deal pricing, rising employee costs, and the pressure to boost revenue despite tight global budgets. Notably, Tata Consultancy Services (TCS), the industry leader, seems to be the only exception.
With export of oranges squeezed, Nagpur region farmers pin their hope on pulp
Trade tensions near Nagpur impact onion and cotton, affecting orange growers and cotton farmers in Vidarbha. Export policies and market fluctuations pose challenges, prompting farmers to seek alternative solutions like pulp factories amid the crisis.
Germany's solar panel industry, once a leader, is getting squeezed
Germany was the world's largest producer of solar panels, with several startups clustered in the former East Germany, until about a decade ago when China ramped up production.
Nike shares slide 8% as switch to newer styles to squeeze revenue
The company anticipates lower sales, focusing on trendier sneakers. It aims to revive its running shoe category and launch Air Max Dn. Concerns over DTC strategy and weak North America demand persist. Nike shares have lost 16% of their value over the last 12 months.
Beyond Meat climbs 60% to 6-month high on short squeeze after price hikes, cost cut plans
About 37.6% of the company's free float, or shares worth $172.6 million, were shorted as of Monday, according to data and analytics firm Ortex. Bearish investors have lost $93 million on paper since Tuesday's close. Beyond Meat was also the most shorted U.S. stock after COVID-19 vaccine maker Novavax, as per a report from S&P Global Market Intelligence this week.
Put the squeeze on unhealthy F&B, GoI
With the incidence of diabetes climbing, India could leverage low penetration and market potential to drive a harder bargain over nutritional standards in packaged food and beverages.
Injury worries for Novak Djokovic, Stefanos Tsitsipas as Serbia squeeze into quarters
This victory sets up a quarter-final clash for Serbia against Australia. The defending champions, the United States, are now out of the competition, with one more day of quarter-final play in Perth before the event shifts to a weekend finish in Sydney.
Charting the global economy: Panama Canal is being squeezed shut by drought
The Panama Canal faces drought-induced closure, leaving shippers with a difficult decision. Each option adds cost, at a time when governments around the world are struggling to tame inflation.
Shaheen Afridi claims top spot in ICC ODI bowlers rankings, Babar's lead at top squeezes to two points
Pakistan's Shaheen Afridi has become the No. 1 ODI bowler after an impressive performance in the World Cup, with 16 wickets. Meanwhile, Australia's Josh Hazlewood, India's Mohammed Siraj, and South Africa's Keshav Maharaj dropped in the rankings. In ODI batting, Pakistan's Babar Azam's lead has decreased, and Shubman Gill is slowly making gains. David Warner and Rohit Sharma improved their positions.
View: Will RBI squeeze banks with an open market operation?
The dense drama has laid open RBI’s dilemma and the confusion of the bond brigade. The protagonists are an affable governor who wants to tame inflation without hiking interest rates, particularly amid festivities, his articulate, pony-tailed deputy, Michael Patra, who has to justify RBI’s actions, words, and silence, and bankers who lend and borrow to manage liquidity while taking cues from the market, rivals and RBI to price loans and deposits.
The US sanctions squeezing Iran leaders, oil and trade
Iran stands as one of the world's most heavily sanctioned nations, with the United States imposing a comprehensive array of measures on the Islamic republic since the Iran hostage crisis that unfolded from 1979 to 1981. The following outlines the primary categories of sanctions currently enforced.
Commodity Talk: Crude oil may remain above $95/BBL on steady demand, supply squeeze: Navneet Damani of MOFSL
Prices got a further boost after the IEA warned that continued supply cuts by the two OPEC+ leaders are likely to create a “significant supply shortfall” and threaten further price volatility
ET Startup Awards 2023: Jury will look for cash flow-generating businesses with a worldview
Building business models that generate cash flows and profitability, and create not for Bharat alone but also the world, are what the jury expects from the nominees.
Japan's factory activity shrinks, squeezed by costs - PMI
The final au Jibun Bank Japan manufacturing purchasing managers' index (PMI) was at 49.6, unchanged from the previous month and slightly down from the flash reading of 49.7. It was the third month the index has come in below the 50.0 threshold that separates growth from contraction.
Squeezing in one last summer trip over Labor Day weekend? Expect crowded airports and full flights
The Transportation Security Administration expects to screen over 14 million passengers, up nearly 11% from last year. AAA reports bookings for domestic and international travel are higher than last year, and gasoline prices are similar. The rate of canceled flights is down 19% from last summer, but flight delays are more common.
India likely to present incentives for ailing textile industry by December: Trade body
The incentives could come under the production linked incentive (PLI) scheme that promises billions of dollars to boost manufacturing ranging from electronic products to pharmaceuticals. Earlier this month, government officials reviewed the PLI scheme, launched in 2020, under which government proposed to offer around $24 billion in cash incentives to 14 sectors.
Salary hikes at startups eased in FY23 on funding squeeze, survey shows
During the year, average salary hikes handed out to employees were between 8% and 12%, a survey of over 200 startups by venture capital firm Elevation Capital revealed.
Debt, 5G payouts may further squeeze Vi's financials
Accordingly, IIFL has cautioned that Indus' receipts from Vi could fall short unless there is significant fundraising at the telecom operator. On Monday, shares of Indus closed 1.12% lower at ₹172.05 on BSE, while Vi ended 0.12% higher at ₹8.34. At its fiscal first-quarter earnings call last week, Indus' top management said the tower company was in constant dialogue with Vi, urging the key customer to clear its past dues estimated at ₹9,500 crore.
Minority squeeze-out rules in delisting process: What’s the way forward?
A company can be delisted by buying out just 90% of its holding. This may result in some minority shareholders left out despite the delisting. This creates ongoing compliance challenges and becomes expensive for the delisted companies.
Tomato to squeeze kitchen budgets more as prices may rise further
Vegetables such as cabbage, cauliflower cucumber, leafy greens etc. may also become expensive because of the disruption caused by record rain in the north Indian hills.
Stubborn cash squeeze risks derailing India’s economic recovery
The funding squeeze indicates a clogged-up financial system that is starting to hurt appetite for bonds and further raising financing costs just as the RBI has paused monetary tightening amid easing price pressures. But economists say the situation may linger for a while, with the central bank still determined to fight inflation and expected to offer short-term liquidity relief only.
India funding costs surge to one-month high on cash squeeze
The weighted average call rate, an overnight funding cost rate that the central bank monitors, have climbed almost 30 basis points since the start of the year. At 6.78% on Wednesday, it’s just hovering above the upper band of the Reserve Bank of India’s interest-rate corridor of 6.75%.
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