MUMBAI: The profitability of Tata Motors‘ cash cow, Jaguar Land Rover, was hit by tariffs imposed by US President Donald Trump, resulting in a 30% fall in the overall profitability of the Indian company. Outgoing JLR chief Adrian Mardell anticipates new trade deals signed between the US and the UK, effective June 30, and between…
NEW DELHI: There is a need to redefine the role of independent directors, and company boards must treat them as “stewards of accountability” and not as honorary appointees, Sebi chairman Tuhin Kanta Pandey said on Friday. He called on boards to equip themselves to meet the challenges of the future.“They must be viewed and treated…
MUMBAI: State Bank of India reported a 9.7% year-on-year rise in consolidated Q1 FY26 profit to Rs 21,201 crore, driven by robust treasury and forex income. Standalone net profit increased to Rs 19,160 crore from Rs 17,035 crore that was recorded a year earlier.Advances grew 11.6% YoY, but core net interest income slipped 0.1% to…
MUMBAI: HDFC Bank MD & CEO Sashidhar Jagdishan told shareholders at the bank’s annual general meeting that reverse mortgage loans do not work in the Indian context because of “various legal and operational issues.” He added, “I’m not aware of any bank currently offering it. One bank did in the past, but they have stopped….
NEW DELHI: Govt will introduce a fresh version of the Income Tax bill on Monday, incorporating the recommendations of the Select Committee of Parliament. The new bill was approved by the cabinet on Friday as finance minister Nirmala Sitharaman withdrew earlier version of the I-T bill 2025, which was introduced in Lok Sabha in Feb…
MUMBAI: India has emerged as the single biggest market for Malaysia Airlines Berhad and the carrier has added capacity in this market by pulling out its flights from the Asean and domestic networks. Currently operating 77 weekly flights to 10 cities in India, the airline has flown 13 lakh people in & out of the…
MUMBAI: AU Small Finance Bank’s promoters will transfer their shares to a non-operative holding company (NOHC) as part of RBI’s conditions for the lender’s transition into a full-fledged or universal bank. The lender has also decided to shift its corporate headquarters from Jaipur to Mumbai, after receiving in-principle approval from RBI for the upgrade.AU Small…
MUMBAI: At the heart of India’s non-leather footwear manufacturing hub in Tamil Nadu where global brands such as Nike, Puma, Crocs and Adidas are pouring in several thousand crores of investments, there is worry over the looming US tariff threat of 50%. Brands are looking to reroute some of their orders to the US through…
Global merchandise trade is projected to grow 0.9% in 2025, helped by a surge in US imports ahead of sweeping tariff hikes, but the World Trade Organization (WTO) warned that the impact of higher duties will hit hard in 2026.In its latest forecast, the WTO revised next year’s trade growth estimate down to 1.8%, from…
The average US tariff rate has climbed to 20.1%, its highest sustained level since the 1910s, according to new estimates released by the World Trade Organization (WTO) and the International Monetary Fund (IMF) on Friday. The sharp rise follows fresh duties that took effect Thursday, as part of President Donald Trump’s continued push for “reciprocal”…
