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Weight loss drug maker sinks 23% after n...

Weight loss drug maker sinks 23% after new safety data spooks investors

Weight loss drug maker sinks 23% after new safety data spooks investors ## Pharmaceutical Firm Faces Investor Scrutiny as Experimental Weight-Loss Drug Shows Mixed Signals **[City, State] – [Date]** – Shares of [Pharmaceutical Company Name], a biopharmaceutical firm focused on metabolic health,... read more »

In a move that is likely to have a spiralling impact on the cost of travel for the common man, public transport and other related areas, Indraprastha Gas Limited (IGL) on Thursday announced a steep hike of Rs. 4.50 paise per Kg in the price of compressed natural gas (CNG), the second successive hike in three months. In a related move that could hurt the household budgets, IGL also hiked the price of cooking piped gas to kitchens by Rs. 5.15 per Kg with effect from Thursday midnight. Under the new pricing regime, CNG will cost Rs. 50.10 per Kg in Delhi and Rs. 56.70 per Kg in Noida, Greater Noida and Ghaziabad, IGL said in a statement in New Delhi. The price of piped natural gas (PNG) to the households in Delhi is being revised from Rs. 27.50 per standard cubic metre to Rs. 29.50 per scm up to consumption of 30 scm in two months. Beyond consumption of 30 scm in two months, the applicable rate in Delhi would be Rs. 52 per scm. Due to differential tax structure in Uttar Pradesh, the applicable price of domestic PNG to households in Noida, Greater Noida and Ghaziabad would be Rs. 31 per scm up to consumption of 30 scm in two months, which has been increased from existing Rs. 29 per scm. Beyond consumption of 30 scm in two months, the rate applicable in these cities would be Rs. 54 per scm. CNG price was last revised in September when it was hiked by a hefty Rs. 3.70 per kg. Price of CNG sold to automobiles in Delhi then increased from Rs. 41.90 to Rs. 45.60 per kg. Also at that time, the price of piped cooking gas, called PNG, for households has been hiked from Rs. 24.50 per scm to Rs. 27.50 per scm. The statement said the increase was primarily due to increase in input cost as a result of reallocation of domestically produced gas quantities by the government for all city gas distribution companies across the country. “There has been a reduction in allocation of APM gas to us, which is forcing us to source more quantity of market priced imported R-LNG, whose prices are currently on an upswing. This has affected our overall input cost by over 13 per cent. There has also been an increase in the operating expenses including increase in minimum wages announced by the government with effect from October 2013,” the statement added. Government reallocated domestic gas allocations to all city gas distribution companies across the country as a fall out of a recent court order. All the earlier gas allocations had been cancelled and the revised allocations now also include PMT gas, which is priced higher than APM gas. “In terms of volume, there has been nearly 5 per cent decrease in the overall quantity of domestic gas allocated to IGL for Delhi, Noida, Greater Noida and Ghaziabad. The reduction in allocation as well as increase in demand is forcing IGL to source much higher priced imported R-LNG. The prices of R-LNG have been on the rise recently and therefore, new R-LNG quantities are available in the market at much higher prices than the existing ones,” the company said. However, the company said the increase would not have a major impact on the per km running cost of vehicles. For autos, the increase would be 13 paise per km, for taxi it would be 22 paisa per Km and in case of buses, the increase would be Rs. 1.30 per km, which translates to just over two paisa per passenger-kilometre.
Household worries over finances hit high...

Household worries over finances hit highest level since July 2022, New York...

Household worries over finances hit highest level since July 2022, New York Fed survey shows **Consumer Financial Sentiment Dips to 19-Month Low Amid Persistent Economic Concerns** New York, NY – A significant uptick in household financial anxieties has pushed consumer sentiment regarding... read more »

Delta and JetBlue become first US airlines to allow gadget-use in-flight
'Bring 'em on': Delta wan...

'Bring 'em on': Delta wants United's crown over the Pac...

'Bring 'em on': Delta wants United's crown over the Pacific, too ## Delta Air Lines Sets Sights on Pacific Dominance, Challenging United’s Long-Standing Reign **Atlanta, GA** – Delta Air Lines is signaling a strategic escalation in its competitive stance, with ambitions... read more »

Bitcoin is cratering, but a new Wall Str...

Bitcoin is cratering, but a new Wall Street crypto hype is on the rise

Bitcoin is cratering, but a new Wall Street crypto hype is on the rise ## Navigating Crypto Volatility: Investors Pivot Towards HYPE ETFs Amidst Bitcoin Downturn **New York, NY –** The cryptocurrency market is experiencing a significant shift as Bitcoin, the flagship digital asset, has seen a... read more »

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Economy

Britain’s pound is beating every other major currency this ...

Britain’s pound is beating every other major currency this year ## Sterling Surges: Pound Outperforms Major Currencies Amid Economic Recovery Signs London – The British pound is demonstrating... read more »

Porsche CEO Oliver Blume to step down

Porsche CEO Oliver Blume to step down **Volkswagen Group Streamlines Leadership, Porsche CEO to Focus Exclusively on Parent Company** Wolfsburg,... read more »

Sensex Surges Nearly 700 Points as RBI Holds Rates Stea...

The Indian stock market roared to life today, with the BSE Sensex jumping nearly 700 points and the Nifty 50 climbing close to 1%, following the Reserve Bank... read more »

U.S. Indictments Against Gautam Adani: Bribery Allegati...

The U.S. Justice Department has initiated an investigation into potential bribery and corruption involving the Adani Group and its founder, Gautam Adani. The... read more »

Rupee Breaches 84 Against US Dollar Amid High Oil Price...

India’s financial markets are facing a turbulent period as the rupee plunged past the 84 mark against the US dollar for the first time on October 11, 2024.... read more »

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Investing

Latest Hindenburg Revelation Alleges SEBI Chief and Her Husband&#...

In a significant development that has sent shockwaves through India’s financial and political circles, Hindenburg Research has released new allegations implicating the current Securities and... read more »

BJP Criticizes Congress for Backing Hindenburg; Qu...

In a fierce political exchange, the Bharatiya Janata Party (BJP) has sharply criticized the Congress party for what it perceives as unwavering... read more »

Mysterious Warning from Hindenburg Research Sparks Spec...

In a cryptic message posted on X (formerly Twitter) on August 10, Hindenburg Research, a renowned short-selling firm, hinted at an impending revelation,... read more »

USA Stock Market Plummets: A Sign of Great Recession?

The US stock market has experienced a significant downturn in recent weeks, sparking concerns among investors and economists about the possibility of a great... read more »

Sensex score above 1300 and below 16600 for fear of Omi...

Indian stocks fell as the spread of the Omicron coronavirus ruined investor sentiment. The BSE Sensex benchmark dropped to 1,330 points and the Nifty 50 fell... read more »

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Gold & Metals

Gold Tumbles to More Than Five-Year Low, China Shares Eke Out Gai...

Gold prices tumbled to a more than five-year low Monday, and China shares rose modestly, after authorities’ weekend move to tighten the use of informal lending channels by stock investors. Gold... read more »

Rupee at at 63.39

The benchmark BSE Sensex trimmed initial gains and fell by 9 points in late morning trade, dragged down by FMCG sectors, while fresh selling was seen... read more »

Gold drops Rs 400, silver plunges by Rs 1,350

Gold, silver prices rise on brisk buying, global cues

Gold prices tumbled by Rs 400 to hit one-week low of Rs 26,750 per 10 grams at the bullion market today amid a weak global trend and low demand from jewellers... read more »

Gold futures gain 0.15% on firm global cues

NEW DELHI: Gold prices increased by 0.15 per cent to Rs 25,796 per 10 grams in futures trading today as speculators enlarged positions amid a better trend... read more »

Government cuts import tariff on gold and silver

NEW DELHI: The government has slashed import tariff value on gold to $375 per 10 grams and silver to $512 per kg following weak global price trends. During the... read more »

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