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Amber Enterprises poised for growth with strong Q2 performance and expansion plans

Amber Enterprises is projected to achieve significant growth, driven by its expanding consumer durables and electronics portfolio. With a greenfield PCB capacity expansion and a joint venture with Korea Circuits, the company anticipates a revenue surge, targeting FY27 revenue and EBITDA growth of 37% and 48%, respectively. Anand Rathi maintains a Buy rating with a target price of Rs 8,125.
Moneycontrol
Indian Rupee Amber Enterprises India Limited IND Show more
Technology & Innovation, Market Report
08:00 24.10.2024

hermes sales rise as demand for luxury handbags remains strong

Hermes International SCA reported a 11.3% increase in third-quarter sales at constant exchange rates, driven by strong demand for its luxury handbags, including the iconic Birkin bag. This performance stands in contrast to the broader slump in the luxury market, exceeding analyst expectations.
bloomberg.com
Hermès International Société en commandite par actions FRA
Finance & Economy, Market Report
08:00 24.10.2024

UK companies extend currency hedges amid pound surge and geopolitical concerns

British companies are extending the duration of their currency hedges, now averaging nearly six months, up from less than four months last year. This shift is driven by the recent surge in the pound and rising concerns over global geopolitical uncertainties that may increase market volatility. A survey of 250 chief financial officers and treasurers highlights the need for longer-term protection against significant foreign-exchange fluctuations.
bloomberg.com
British Pound Sterling MillTechFX GBR
Finance & Economy, Market Report
08:00 24.10.2024

Swiss banks struggle with digital failures as competitors advance in technology

Swiss banks are struggling with digital banking, as ZKB faced a significant outage, Raiffeisen's app failed amid bankruptcy, and UBS customers experienced frustrating delays in e-banking activation. Meanwhile, Intesa Sanpaolo plans to cut 9,000 jobs to focus on digital services, highlighting the growing gap in digital competency among Swiss financial institutions. The financial center's reputation is at risk as competitors like London threaten to overtake Zurich and Geneva in wealth management.
insideparadeplatz.ch
United States Dollar UBS AG Intesa Sanpaolo S.p.A. CHE
TradFi, News Article
07:59 24.10.2024

Italy's 2025 budget faces backlash over healthcare and pension cuts

The 2025 Budget Bill, signed by President Sergio Mattarella, has sparked tensions over proposed cuts to healthcare and pensions as it enters parliamentary debate. Key measures include a tax wedge reduction, increased contributions from banks, and a controversial 2.2% rise in minimum pensions, which unions deem insufficient. With healthcare unions planning a strike over funding concerns, the government faces criticism for its approach to public spending and welfare reforms.
QuiFinanza
Euro RAI Abi ITA Giuseppe Conte Elly Schlein Antonio Patuelli Sergio Mattarella Luca Ciriani Show more
Finance & Economy, News Article
07:59 24.10.2024

Bajaj Finance reports strong growth and maintains buy rating with new target price

Bajaj Finance reported a 22.8% YoY increase in Net Interest Income (NII) for Q2FY25, reaching INR 88,377 Mn, driven by strong AUM growth. Despite a 13.0% YoY rise in profit after tax to INR 40,137 Mn, higher provisions impacted net profit, which missed estimates by 1.0%. The firm maintains a positive long-term outlook, adjusting its target price to INR 8,066 per share while keeping a "BUY" rating.
Moneycontrol
Indian Rupee Bajaj Finance Limited IND KR Choksey
Finance & Economy, Market Report
07:53 24.10.2024

hyundai reports profit decline amid weaker sales and geopolitical tensions

Hyundai Motor Co. reported a third-quarter operating profit of 3.58 trillion won ($2.6 billion), a 6.5% decline from the previous year, falling short of analysts' expectations of 3.9 trillion won. Despite a 4.7% increase in sales to 42.9 trillion won, weaker global vehicle sales and heightened geopolitical risks impacted earnings.
bloomberg.com
South Korean Won Hyundai Motor Co. KOR
Finance & Economy, Market Report
07:49 24.10.2024

TCS establishes Nvidia unit to accelerate artificial intelligence adoption across industries

Tata Consultancy Services has launched a new Nvidia business unit aimed at accelerating the adoption of artificial intelligence across various industries. This initiative will focus on designing and delivering tailored AI adoption strategies for its clients.
Moneycontrol
Tata Consultancy Services Limited NVIDIA Corporation IND
Technology & Innovation, Press Release
07:44 24.10.2024

orange reports third quarter sales growth driven by french market revenue

Orange SA reported a 1.6% increase in third-quarter sales, reaching €10 billion ($11 billion), surpassing analysts' expectations of €9.99 billion. The growth was attributed to the success of premium bundles that helped retain customers amid competitive pressures in the French telecommunications market.
bloomberg.com
Euro Orange S.A. FRA
Finance & Economy, Market Report
07:38 24.10.2024

SEBI chief requests exemption from PAC appearance citing personal reasons

SEBI chief Madhabi Puri Buch has requested an exemption from appearing before the Public Accounts Committee (PAC) on October 24 due to personal reasons. The PAC, led by K C Venugopal, is set to review the performance of regulatory bodies, including SEBI, amidst ongoing political tensions following allegations from US firm Hindenburg.
Moneycontrol
Hindenburg CNBC-TV18 Securities AND Exchange Board OF India University/AOP/Society IND Madhabi Puri Buch K C Venugopal Show more
Regulatory & Legal, News Article
07:37 24.10.2024
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