Britannia Industries reported a 10% drop in profit for the quarter ended September as surging housing costs and low income growth in urban areas led to a slowdown in demand for fast-moving consumer goods. While rural demand has been stable, urban demand has seen a significant downturn, mirroring global trends of consumer confidence returning but wages lagging behind inflation.

Food delivery giant Swiggy debuted on the stock market with a premium over its IPO price, despite ongoing financial losses. Analysts expressed caution, citing market volatility and the company's negative earnings, while acknowledging its revenue growth. Swiggy plans to use the IPO proceeds for investments in subsidiaries, technology, and marketing.

On its listing day, brokerage firms - Macquarie and JM Financial - became the first ones to initiate coverage on the debutant but came out with polar opposite views. Macquarie's initiating coverage report gave it an underperform rating with a target price of Rs 325, which indicates downside potential of 17% from IPO issue price of Rs 390.

​​The Umbergaon, Valsad-based company said the issue comprises Rs 850 crore of offer for sale and Rs 350 crore of fresh issue, and will close on December 15. Its chief financial officer Rahul Shah told reporters here that the floor price is 75 times and the cap price is 79 times the face value of the equity shares.

Driven by central bank purchases and geopolitical tensions, gold prices soared to 39 new all-time highs in 2024, marking the highest number in 45 years. The surge, influenced by strong Asian demand and US election anxieties, saw gold reach $2,734 per ounce, prompting predictions of further increases.

I don't want to get hosed buying a pretty label and sales pitch on the bottle. I don't mind buying more than one bottle to get a better price. I don't know what "should be" in good mayo but you do, that's why I came here for guidance. I know we all hate Amazon, plz go to the next question rather than telling me Bezos blows; I am aware.

The day Margo Price walked into the studio to start recording her new album, That's How Rumors Get Started , she had butterflies in her stomach, a mixture of excitement, trepidation — and morning sickness. "I definitely was not expecting to be pregnant," she says. "I had planned to go into the studio regardless of what was happening in my personal life." Her daughter Ramona was born last June — and her new album is now out in the world, too. Price says that the two processes, making an album and having a baby, were eerily similar. "I think when you're making art and you're creating something, you have this feeling of protection," she says. "You keep it to yourself at first, and it's evolving and growing and changing. And the same [can be said] when you're carrying a baby. It's such a process that it's really hard to describe either one. I think they're both kind of mysterious in their own way. It's something that's just so personal." NPR's Ailsa Chang spoke to Margo Price about staying

For years, Matt Harris dreamed about building a treehouse out behind his back fence in Knoxville, Tenn. He never got around to it, though, until the pandemic hit. "It was just a matter of finding time," Harris says. "And that didn't come until everything kind of shut down for a little bit." When the coronavirus canceled youth sports for the season, Harris suddenly found his weekends free. And his children — ages 8, 7 and 4 — made a willing construction crew. "They were good measurers and markers of the wood," Harris says. "You don't let small children use power tools, necessarily. But in terms of things they could help [with], they were enthusiastic about it." As he set about buying supplies, Harris noticed a lot of other housebound families seemed to be working on their own projects. "There were definitely some days when we went to Lowe's where it looked like a swarm of locusts had come through," says Harris, an economist at the University of Tennessee. "I think the lumber industry

Looking back at more than 25 years in public service, Susan Rice — former U.N. ambassador for the United States and national security adviser to President Barack Obama — describes much of her career as a balancing act. Sometimes, that meant toeing the line between her personal and professional life. "My now 22-year-old son, in fact, learned to walk in the halls of the State Department," recalls Rice in an interview with NPR. "And there were those who thought that was a little bit inappropriate for the staid halls of the State Department." But luckily, she says, she had the support of then Secretary of State Madeleine Albright. Other times, Rice had to balance her ambition with her identity as a person of color: At the age of 28, having just started her career in government, Rice turned down a position working on African policy for the Clinton administration out of fear of pigeonholing herself. She worried "this predominantly white national security establishment would see [her] as

The Federal Reserve chair, Jerome Powell, and his counterparts in Britain and the European Union spoke at a conference in Portugal.

Château Palmer is a wine estate in Margaux, in south-west France. Those that know about these things rate their wines as among the best anywhere in Bordeaux. If you are going to record a jazz album outside of the recording studio, then a light and airy wood-paneled salon at the château with French windows overlooking the serene estate seems to be an inspired choice... [ read more ]

En 6M Hoy por Hoy de Caracol Radio estuvo el concejal de Bogotá, Daniel Briceño, para hablar sobre una queja disciplinaria en contra del nuevo director del DPS, Gustavo Bolívar.

En 6AM Hoy por Hoy de Caracol Radio estuvo el concejal Daniel Briceño, quien tiene una serie de inconformidades respecto a las contrataciones que ha llevado a cabo la Alcaldía de Bogotá en sus primeros 100 días de gobierno.

Emmanuel Briceño lidera emotivo tributo a su padre Arnulfo Briceño en álbum ‘Canta Llano’, con la destacada colaboración del artista colombiano Juanes.

En 6AM Hoy por Hoy de Caracol Radio estuvo Daniel Briceño, concejal de Bogotá, hablando sobre las irregularidades que encontró en un millonario contrato de la empresa de Acueducto de Bogotá?

Celebrated jazz Hammond organist Vel Lewis is set to release his highly anticipated new single, "I Paid The Price," a soulful and introspective piece showcasing his signature mastery of jazz, soul, and blues. The single will be available on all major streaming platforms on November 15, 2024. Lewis, known for his unmistakable touch on the Hammond organ, has crafted "I Paid The Price" to reflect his deep connection to life’s lessons, love, and the resilience that comes from overcoming challenges...

We look at the impact of inflation on the outcome of the presidential elections this week.

NDP leader Jagmeet Singh tells CBC Radio's The House that he’s not looking to force an election this fall if the Liberal government follows through on commitments to help women and other marginalized groups affected by the COVID-19 lockdown.

Fear returns to Kyiv amidst renewed Russian attacks; Russia's new commander in Ukraine is known as 'General Armageddon' for his record in Syria; rainbow fentanyl is all the buzz on social media and so is the misinformation surrounding it; how Alex Jones piled on the trauma for the parents of mass shooting victims; watching a Louis CK show as #MeToo marks its five-year anniversary; why creators are divided over the rapid rise of AI-generated art; and more.

As Canada's inflation rate continues to slow, the same cannot be said for food prices. Groceries bought at stores are increasing at a pace of 11.4 per cent. And as some economists predict, there's reason to believe food prices could continue to climb because of currency and seasonal reasons. 

The rising cost of what sometimes seems to be everything has been one of the top stories this year. And the most expensive time of the year is now here. How have you gotten through the holidays in tough times previously, and what solutions have you come up with this year?

A pair of geese owned by champion breeder Michael Peel have set a new Australian record price at a live auction dubbed the ‘poultry Olympics’.

BENNELONG’S nation-leading house price increase showed people were suffering with high rents and the inability to on their own home, according to some election candidates.

Junk fees “are in line with deceptive and unfair trade practices because landlords are advertising a fake price to get consumers interested, but it’s not what they’re actually going to pay at the end of the day,” said state Rep. Javier Mabrey.

Retired race car driver Richard Berry hopes the third time’s the charm after listing his custom-designed Evergreen mansion on 75 acres for $19 million.

The popular train from Union Station will have more cars and run five days a week.

As a health reporter, I'm using my own situation of choosing where to have my baby as a demonstration of how to figure out what you might pay if you know you'll need care.

One gets the sense of the author and illustrator as a whole person, from an oft-bedridden childhood gazing out his Brooklyn window to his global success and forays into stage and screen.

The club is the most expensive ever.

The Ministry of Economy and Labour reported a 1.9% year-over-year increase in the Consumer Price Index [CPI] for July 2024. A Government spokesperson said, “Today, the Ministry of Economy and Labour released the Department of Statistics’ July 2024 Consumer Price Index. “In summary, consumers paid 1.9 per cent more in July 2024 than they did […]

“Today I am pleased to report that the price at the pump for gasoline has fallen 5.2 cents from the price cap put in place in February 2022,” announced Premier and Minister of Finance David Burt. Premier Burt continued, “As a result of Russia’s war in Ukraine, consumers worldwide faced record-high gas prices; however, the […]

“The price at the pump for Gasoline as of Tuesday, May 16, 2023, is expected to remain at 234.1 cents/litre,” announced Premier and Minister of Finance David Burt. “This price is equal to the February 2022 level of 234.10 cents/litre, at which prices were capped for the last fourteen months while global prices soared.” Without […]

“The price at the pump for Gasoline as of Friday, June 16, 2023, will remain at 234.10 cents/litre,” announced Premier and Minister of Finance David Burt. “This price is equal to the February 2022 level of 234.10 cents/litre, at which prices were capped for the last fifteen months. “Diesel, for the third consecutive month, is […]

25-year-old Maurice Jones has been jailed for 30 years in the UK after being convicted of murdering a father while he was pushing his young son. A statement from the Wiltshire Police said, “Maurice Jones, 25, of Gainsborough Close, Bemerton Heath, was convicted of murder and possession of a bladed article following a two-week trial […]

For many years, the fees charged by investment managers of mutual funds grew ever so slightly, gradually approaching 1.5%. Over the last few years, though, the growth in these management fees has stopped. In fact, it reversed. Last year the average management fee charged for actively managed mutual funds was 1.38%, or 138 basis points, where a basis point is one tenth of one percent. But that average is badly misleading. It’s misleading because it treats all funds, regardless of size, as the same. When you adjust the fees for the size of the funds, you find that the dollar-weighted average for actively managed funds is now below 100 basis points. Three things have caused this reversal in management fees: low returns in the stock market, the growth of exchange-traded funds (ETFs) and a price war among the biggest players in the market.

The first two of these factors need little explanation. Over the last ten years, an investment in many bond funds out-performed an investment in diversified equity funds. These low returns have many investors focusing on the costs they incur for the management of their money. These costs include transaction fees for trading securities and management fees for the companies managing mutual funds or exchanged-traded funds. The second factor, the growth of ETFs, is somewhat less obvious, but important. ETFs have garnered a significant share of new money invested in equity funds over the last few years. Companies managing ETFs charge low fees for managing these funds because they have very low costs for shareholder servicing and some other administrative functions associated with investment management. Shrewd mutual fund managers have reduced prices in order to manage the gap in pricing they allow for their managed mutual funds compared to comparable ETFs.

These two causes of the fall in prices for investment management now have a third important factor. This third factor may turn out to be the most important of all. (See the Symptom & Implication, “The industry is seeing its first price wars” on StrategyStreet.com.) As described in other blogs (see blogs HERE and HERE), Vanguard has started, and continued, a price war in the ETF market. For example, iShare’s MSCI Emerging Market’s ETF and Vanguard’s Emerging Market’s ETF compete directly. Vanguard’s fund charges 27 basis points. The iShare’s fund charges 69 basis points. The iShare’s fund entered the market well before the Vanguard fund, and was much larger than the Vanguard fund. However, during 2010, the Vanguard ETF added $18 billion to its fund while iShare’s added about $4 billion. Price matters among peers.

The iShare’s funds are not always market share losers, however. The iShare’s Gold Trust is an ETF that competes with a larger rival, SPDR Gold Trust. Until June of last year, both of these ETFs charged 40 basis points. In June, iShares cut its management fees to 25 basis points. SPDR Gold Trust stayed pat at 40 basis points. Over the next few months, the iShare’s fund gained $875 million in new money, while the SPDR Gold Trust saw a net loss of $1.2 billion of money under management. Price matters among peers.

These management fees can even go to zero. One ETF today has no management fee, zero. It gets its revenues by lending out the securities in its portfolio. (See the Symptom & Implication, “Technology improvements bring falling prices” on StrategyStreet.com.)

Of course, as companies engage in price wars, they advertise their lower prices extensively in order to capture as much market share as possible before their competitors respond. The result: customers are becoming ever more price sensitive about the management fees they pay, simply because the management companies tell them to be more sensitive.

How long will it be until this fee warfare spreads to other smaller types of ETFs? Not very long, as long as price moves share.

Years ago we were doing some work in the roofing business. In one study, we were working on the asphalt shingle roofing manufacturing business. At the time, this was a terrible business. Returns were low, growth rates were modest, at best, and there was a good deal of overcapacity in the industry. Then the industry caught a break. A shortage in asphalt developed. This shortage of asphalt rolled through the asphalt shingle plants and restricted their output. Immediately, prices jumped, returns became attractive and industry participants breathed a sigh of relief. Unfortunately, this asphalt shortage did not last very long. The industry shortly returned to its previous hostile condition. (See the Perspective, “What Ends Hostility?” on StrategyStreet.com.)

A shortage in any component, or labor, will restrict industry capacity and tend to raise prices. A labor shortage is, in part, responsible for some of the high prices in mining today. Miners work in areas that are often hard to reach. They also are skilled employees. The run-up in commodity prices, especially those related to ores such as silver, gold and copper, has increased the demand for these skilled miners. In addition, the mining industry faces competition for skilled workers from the oil and natural gas industries, which are also growing.

Mining companies are now going to great lengths to attract and retain these skilled workers. Some of these miners are now earning 25% more in compensation than they were a year ago. Some companies are flying workers to and from remote mines. For example, BHP Billiton plans to fly 500 workers from Brisbane, about 500 miles away, to a coal mine site that they are opening and then fly them back home after a couple of weeks.

If this commodity boom continues, the industry’s total capacity will be determined more by labor availability than by its more traditional measures of capacity. (See “Audio Tip #117: Capacity Constraints and Pricing” on StrategyStreet.com.)

The figures are in for U.S. auto sales in 2010. The biggest winners in percentage growth were Hyundai, at 24%, and Ford at 20%. Toyota lost .4% and Honda grew a mediocre 7%. The Japanese struggled in 2010.

Earlier we wrote a blog about Ford’s ascendency and Toyota’s problems (see Blog HERE). Toyota is paying the price for failing its customers. Honda appears to be getting painted with the “failure” brush, though I doubt its punishment is deserved.

I am actually using the word “fail” to mean something specific here. A company fails its customers when it is unable or unwilling to do something that at least half of its competitors can, or will, do for customers. Toyota’s troubles with accelerators, floor mats, and so forth, received extensive media coverage. This coverage clearly has had a negative impact on Toyota this year.

Toyota’s struggles illustrate the win and fail dynamic. In our terms, a “win” occurs when a company is able to do something that the majority of its competitors either can not or will not do. Wins account for a good deal of market share growth in a fast-growing market, but are less important in more mature markets. In a more mature Stable market and, especially, in all Hostile markets, failure moves a significant amount of market share.

Here is what this means. The decision to change a supplier is really two decisions. The first is the decision to leave a current supplier and the second is the decision on which new supplier to take on in your relationship. In the average Stable and Hostile marketplace, more market share moves on failure than on wins. This means that before an established customer will change suppliers, its current incumbent supplier must “fail” the relationship in some way. This failure, then, opens up the customer’s relationship to competition among other potential suppliers. Whichever supplier gains this customer’s volume really did so only after the incumbent failed. We call this gain a “weak win.” The “weak win” would not have happened on a straight-up comparison of performance and price of the new supplier versus the old. The gain only happened after the incumbent clearly failed the customer and then opened the relationship to someone new.

Toyota’s failure was largely a failure of Reliability. It clearly lost share. The companies that gained this share from Toyota, Ford and Hyundai among them, enjoyed some degree of a “weak win” in the domestic automobile market. They may have “won” market share as well, but my guess is that most of their share gains from Toyota fell to them from Toyota’s “failure.”

Seeing as no one is doing much traveling these days, I thought it'd be fun to pay a visit with a Strobist reader photographing somewhere far away.

Up for a little Lighting Cookbook field trip to Indonesia? Yeah? Then let's go... Read more »

REVIEW – My first smartwatch was the Pebble, which I found to be instantly invaluable by displaying my notifications right on my wrist and then letting me decide if they were important enough to pull my phone out. For me, this has been the primary function of my smartwatches to this day. Other functions and […]

1. Right now, the Sun is far more active than predicted – and small satellites are paying the price  The Conversation
2. Unpredictable Solar Activity Sends Satellites Plummeting to Earth  ScienceAlert